What is Lowest Break-even Cost for Bitcoin Mining? Here's ...

Dogecoin

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Cost to mine 1 Bitcoin is now $14,000 USD. "Bitcoin Price Chart Fractal Seen in 2019 Hints at $14K Within Months". I bet BTC price ascends to $14,000 in next 30 days! NewYorkCoin (NYC) is a faster, no fee version of Litecoin since 2014! Official New York Coin nycoin.net | newyorkcoin.net

Cost to mine 1 Bitcoin is now $14,000 USD. submitted by hivewalletvictim to NewYorkCoin [link] [comments]

Is there a graph/chart of Bitcoin price related to average cost of mining (i know it can vary between countries)?

Would love to have a look at it, in case it exists. please share a link if you know about its existence, thanks
submitted by thepunisher18166 to Bitcoin [link] [comments]

Is there a graph/chart of Bitcoin price related to average cost of mining (i know it can vary between countries)? /r/Bitcoin

Is there a graph/chart of Bitcoin price related to average cost of mining (i know it can vary between countries)? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Great chart showing bitcoin mining revenue and electricity costs (source IEEE spectrum)

Great chart showing bitcoin mining revenue and electricity costs (source IEEE spectrum) submitted by Eik_NL to Bitcoin [link] [comments]

Great chart showing bitcoin mining revenue and electricity costs (source IEEE spectrum)

Great chart showing bitcoin mining revenue and electricity costs (source IEEE spectrum) submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Amazing how far we've come, getting closer to max supply

Amazing how far we've come, getting closer to max supply submitted by TR5_ to CryptoCurrency [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

New York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains Honest

New York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains Honest

Image: Tom Adams - Unsplash
A New York law firm is trying to test blockchain projects’ decentralization claims against their perhaps not-quite-so-distributed realities.
Called the “Ketsal Open Standards” rubric, the toolkit, developed by the Ketsal law firm and revealed exclusively to CoinDesk, proposes using hard, measurable data points to either bolster or burst a blockchain’s decentralized credentials.
It’s the latest contribution to a long-raging debate in crypto: when, and how, is something truly decentralized?
Finding that key, said toolkit co-creator and Ketsal partner Josh Garcia, can help investors, security researchers and even securities regulators root out blockchain projects’ sometimes bogus claims.
“It’s a tool to push along an informed discussion on what you’re talking about when you’re saying, ‘my network is decentralized.’”
“Now you can push back” with evidence the assertion is demonstrably false, he said.
Garcia and co-author Jenny Leung’s Open Standards is hardly the first decentralization measurement toolkit. But a review by CoinDesk shows it to be one of the most robust.
Thirty-three data points probe the hard facts behind blockchain decentralization. Many are obvious. For example, the focus network’s node count – a decentralized network should have plenty – and its underlying code’s licensure status – open source or bust – are clear benchmarks.
But others appear to be more novel. Ketsal’s framework proposes weighing the network’s GitHub statistics, measuring inter-node communication times, determining how large a stake of the cryptocurrency rests in wallets (and with the big-investing whales) – and even the theoretical cost of mounting a 51% attack, among others.
Compiling these statistics can help researchers better understand a blockchain’s in-the-moment distribution even if reaching an up-down verdict on its decentralization is impossible, said Garcia.
“It’s not an answer to the question, ‘What is decentralization,’ but it’s a way to find that answer,” he said. “If people can decide whether or not some of these metrics are valid,” they can use their chosen set to test for the type of decentralization they’re looking at.
Providing a broad selection of diverse metrics is critical, he said, because of the political, computational and economic analysts searching for a “decentralization” particular to them. A securities regulator concerned with the Howey Test would likely choose different data points than a security researcher probing the network for holes.
But different analysts also might hone in on similar points. For one, mining power concentration, or the concentration of miners whose computational efforts cryptographically secure proof-of-work blockchains, is a critical benchmark for any decentralization hawk.
If all the key miners are geographically concentrated or grouped into a single pool, a blockchain may face mounting centralization and security risks, according to Ketsal. Just four pools mined 58% of Bitcoin blocks in the past year, the rubric shows.
Garcia said his team spent months compiling all the relevant data points from the world’s best-known blockchain network. Bitcoin’s resilience as well as the consensus agreement that it is decentralized make it an ideal case study, and Garcia said it’s the obvious benchmark to hold other projects against.
“If you do the same exact chart for another blockchain network, and you compare it side by side to Bitcoin … you know how far off you are from [decentralization]” he said.
Originally published by Danny Nelson | October 21, 2020 Coindesk
submitted by kjonesatjaagnet to JAAGNet [link] [comments]

Towards the Future of Mining

What Atlas Rising is doing is to chart the way for Bitcoin and indeed other cryptocurrencies to thrive the more.
The team behind this project already knows that the value of cryptocurrencies will continue to shoot to the moon, and only the smart and well-informed investors will be in a better position to make more money.
In lieu of that, Atlas Rising is adding more steps to the future of Bitcoin and other cryptocurrencies by being the first company to implement full-scale use of solar mining as a way of preserving the global ecosystem and reducing the costs of crypto mining by half.
Opportunities for Crypto Enthusiasts
If you are interested in cryptocurrencies, there are some things you must have in mind before investing in your favourite crypto coin.
The first is that the crypto market might be volatile in some instances. So, you need to learn how to manage your risks.
The second is that you must have an eye for details so you don’t make good investments at the wrong time and vice-versa.
Also, you need to have some crypto experts you can always look up to for advice and help. Having those in mind, Atlas Rising is there to help you solve issues you might have with cryptocurrency investments.
The team behind the project is not unaware of the fact that potential cryptocurrency investors make the mistake of investing in or buying any crypto coin that crosses their path.
submitted by chidi_happy to solarenergy [link] [comments]

Miners bullish on Bitcoin as network difficulty (green line) reaches new ATH

Miners bullish on Bitcoin as network difficulty (green line) reaches new ATH submitted by bytetree to Bitcoin [link] [comments]

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

AMM + Limit Order, Will OneSwap Replace Traditional Exchange?

When a thing is denied, something new starts at a higher level.
The update and iteration of the currency circle takes only a few days.
On August 13, Yam, the token of a popular DeFi project, plummeted by 98%, while YFI, another DeFi cryptocurrency, outran the digital currency Bitcoin Gold by value under capital operation.
According to their familiarity with DeFi, blockchain investors in 2020 can be divided into two categories. The "New" investors are active in DEXs such as UniSwap and Balancer, striving for hundredfold returns on investment amid fake projects, while the "old" investors stick to mainstream cryptocurrencies and advocate value investment in the three major CEXs.
Despite its long history, DEX did not prosper until recently. It has processed transactions of over US$520 million in the past 24 hours, and the trading volume for the past week has exceeded the figure across 2019.
But still, many people are stranger to DEX.
I. Will DEX shuffle the existing trading market?
Upon discovering something new, you can describe it, but never evaluate it superficially.
UniSwap occupies 55% of the entire DEX market. Celebrities in the circle enjoy discussing the changes brought by UniSwap on social media and how it will change the existing trading landscape.
On August 5, Jay, CEO of OKEX Exchange, publicly stated that "UniSwap can hardly replace the current mainstream exchanges." on Weibo.
He also listed two reasons:
  1. With insufficient transaction depth, UniSwap cannot support large transactions;
  2. UniSwap cannot set prices independently, but has to follow the prices set by other exchanges.
He also recognized UniSwap’s AMM model in the post.
Soon this post was criticized by Dovy, the founding partner of Primitive Ventures, to the effect that Jay had quite limited knowledge about DeFi and the reasons he proposed did not hold good.
She also mentioned the advantages of a new generation of DEX represented by UniSwap:
Traditional exchanges determine the price and market value according to a small number of chips in the market. By comparison, AMM relies on the entire LP pool to contribute liquidity, and a small number of chips will not lead to severe fluctuations in the price. The price follows the curve of the static liquidity pool within a time range, rather than the manually controlled order book.
2. Is UniSwap good enough to replace centralized exchanges?
Neither OK or Binance had expected that one day their arch rival was not each other, but the newly emerging decentralized exchanges.
With totally different operating methods and business models, DEX and CEX have their own merits.
CEX comes with evident problems. Ordinary users do not trust its security due to the rampant data cheating. For project developers, CEX requires high fees for token listing and maintenance.
The advantage of CEX lies in its low threshold and mature business model.
Just as Jay said, DEXs represented by UniSwap are still faced with great challenges posed by user habits. For example, UniSwap does not support limit orders or the candlestick chart, and users need to rely on a third-party Ethereum wallet for operation.
The innovative AMM model allows ordinary users and small market makers to get involved and earn market-making fees, reducing costs and improving liquidity.
According to the trading volume at this time, UniSwap may not be able to replace mainstream exchanges, but it is good enough to replace second and third-tier exchanges.
3. Is OneSwap an upgraded version or a copy of UniSwap?
"The success of UniSwap proves the necessity of the DEX that does not require permission and supports AMM in the market. However, UniSwap comes with two shortcomings. One is the lack of support for limit orders, which greatly restricts trading methods and liquidity; The other is the excessive transaction cost and poor transaction efficiency due to the limited processing capacity of Ethereum." - Yang Haipo
Recently, OneSwap, known as the upgraded version of UniSwap, announced that it will hit the market in early September, and has received an investment of US$10 million from CoinEX.
To develop an open-source centralized trading platform like OneSwap, it is easy to replicate the technique. But among so many Swap applications in the market, what advantages does OneSwap have over UniSwap?
1. Limit orders
Neither buyers or sellers of UniSwap can set prices independently; instead, they need to follow the prices set by other exchanges. If they want to buy tokens at a specific price, they have no choice but to wait till tokens at such a price appear in UniSwap, a waste of time.
Continuing the good practices of centralized exchanges, OneSwap supports the traditional order book based on rapid exchange, offering more flexible trading methods and further enhancing the liquidity of digital assets.
2. The candlestick chart and depth map
Without an order book, UniSwap has been criticized for its simple transaction interface which does not even contain the basic candlestick chart. As a result, it cannot satisfy numerous traders’ demand for data analysis.
To benchmark against the centralized exchange in terms of user experience, OneSwap has introduced functions such as the candlestick chart, order ticket, and depth map. Just like centralized exchanges with professional charts, OneSwap provided the price trend, trading volume, depth, and other information of different cryptocurrencies for users to set out informed trading plans.
3. Liquidity mining + transaction mining
UniSwap’s AMM model is believed to be a vital catalyst for its explosive growth. With an additional incentive mechanism of transaction mining besides liquidity mining, OneSwap leaves more core benefits to its users.
OneSwap will charge the Taker a fixed percentage of transaction fees based on the transaction amount, while the Maker does not need to pay. The transaction fees are divided into two parts: 60% for liquidity and 40% for the repurchase and burning of ONES. In transaction mining, both liquidity providers and traders will receive ONES as an economic incentive.
The market is looking forward to a new product that is as user-friendly as CEX and as safe as DEX. Is OneSwap qualified to meet such demands?
submitted by jessicazhang922 to defi [link] [comments]

Mine Digital's Q3 Report, 2020

Orginal post: https://minedigital.exchange/the-byzantine-times/mine-digital-q3-report/?utm_source=reddit&utm_medium=social&utm_campaign=new_visitors&utm_term=quarterly

Data

There has been a lot of talk recently over deflation vs inflation and which phenomenon is going to emerge.
The traditional path of inflation is that it first shows up in soft commodities then energy.
Indeed, the data for Q3 shows inflation, with soft commodities up from mid single digits all the way to 40% higher of the quarter (with the exception of Orange Juice and Oats which were marginally lower).
Although energy is yet to show signs of that inflation, with significant overcapacity in oil suppressing prices (especially with the lack of air travel with the coronavirus), natural gas is higher by almost 46% over the quarter — obviously a significant amount.
While this is a result of the initial response to coronavirus stimulus from March onwards, there is now a threat of deflation emerging — however further policy response is expected imminently.

US Election

With the US election underway we saw the first presidential debate recently. The event was slow with Joe Biden performing better than expected — by not being a disaster — and President Trumps strategy of freestyle, interruption and flow being handled well with superior tactics.
Those tactics include the promise of a return of technocratic stability to the governance of the country — an approach complementary to unofficial policy supporting the corporate funded, professionally organised riots of 2020.
There was a swing towards Biden in gambling books, with about an 8% improvement in odds given to a Democrat win.
If Democrats do win, we expect that the policy mechanism of the US Government will include the expansion of fiscal and monetary policy to include an infrastructure spend and a continuation of the trend in monetary policy
However if Republicans win, we expect that the policy mechanism of the US Government will include the expansion of fiscal and monetary policy to include an infrastructure spend and a continuation of the trend in monetary policy.
This delusion of choice in the United States creates an image similar to China with both countries now having essentially a centrally planned economy at the highest level, both developed a mass surveillance program, have media synchronised to political objectives controlling the window of discourse, and with heavy politically influence from what amounts to an aristocracy.
One major difference is that while China has been taking on debt at a record pace in 2020, the American fiscal stimulus has been held up in the democratic process. Between the fake trade-deal (China never having any intention of completing it), Coronavirus and political fandangaling in the US, China has stolen 2020 from the USA, giving some much needed time to develop strategy and tactical positioning before the Thucydides showdown emerges later down the track — in whatever form it does.
The broader battle of de-centralisation vs centralisation will be important in the competition between the two powers and something that digital assets, the ethos and philosophy behind the space will become more important in creating competitive advantages in macro-strategy of all kinds.

Australian Policy

Now that we have seen Australian house prices down for 5 months in a row there are hints of a dead-cat bounce in the Australian property market. With restricted access to Chinese investors as well as poor sentiment in the conditions of the year the Australian government is expected to intervene in the property market in some way later this year or early next.
A federal budget is being delivered Tuesday the 6th October which has been described as a ‘jobs budget’. This budget is expected to have a $200 billion deficit with Australian national debt edging towards $1 trillion. $140 billion of stimulus is expected over the next four years with net migration negative for the first time since the 1940's.
There is specific infrastructure and manufacturing expenditure as well as a continuation of JobSeeker payments in which the government is in a bind between encouraging re-entry to the workforce and providing a gentle landing for the unemployed adjusting to the boosted payments. Housing is likely to be one area where surprises would emerge, given Australia’s dependency on residential construction and broader housing prices.
Some specific areas of interest are $1.5 billion to manufacturing and $7.5 billion of spending in infrastructure projects covering all states and territories.
Whether this will be enough to avoid recession in a global slowdown remains to be seen. Recessions gather momentum slowly with employment decreasing only gradually before accelerated layoffs take hold.
Despite this outlook Australia is likely to remain a benefactor of global government policies where monetary policy has been taken as far as it can go in many places and fiscal policy is expected to replace it. There is upto $2.2 trillion of fiscal expenditure in the US expected, along with other fiscal expenditure that would improve the price of commodities. We have already seen this effect in China this year with their record increases in debt on the iron ore price.

Digital Assets

In the third quarter of 2020 we saw Decentralised Finance projects stage a bubble of their own.
This gold-rush became so competitive at its peak that a project had been unnannounced, unreleased and in testing but was funded with $15mil of assets staked before it had a public name.
Now in the late stages of this phenomenon we are likely to see many lessons learnt, some impressive winning stories and some disastrous losses.
And the output of all of this chaos in defi includes projects that create a new aspect to the digital asset ecosystem as well as testing new products and game theory.
Leading projects include yearn.finance, Synthetix, Uniswap, Compound, Ren and Aave. Some notable game-theory has been developed to bolt onto the Ampleforth tokenomics in Yam and Based amongst others.

Ethereum

One of the key takeaways of the de-fi boom was the inability of Ethereum to handle transactions with costs per transaction skyrocketing. In addition to this there has been statements made by Vitalik to temper expectations in the full release of Ethereum 2.0. However the comments also include a clear direction for the asset, a focus on rollups, plasma and state channel with upto 4000 TPS (transactions per second)’ and upto 100,000 TPS in the full release of Ethereum 2.0.

Bitcoin

Although it has traded higher over the time-frame, bitcoin has not done a great deal in Q3. With a major announcement from Microstrategy investing their entire treasury into Bitcoin ($425 million USD) and Grayscale Bitcoin Trust ($4.4 billion USD) holding about 2.2% of Bitcoins total market cap and reports from other institutional players such as OSL there is significant interest in the asset that is not translating smoothly into higher prices.
Originally published at https://minedigital.exchange on October 5, 2020. Visit the original link for a more in-depth report including charts.
submitted by Uncle_Chester2020 to Mine_Digital_Exchange [link] [comments]

Engineering, Technology and Other Talents (Homebrew)

Hello, everyone. I am sharing some homebrew adjustments to some Talents. If you have any suggestions or comments, please share them.
Student Talent Additions (Research/Studying Karma Reward): If a PC possesses the Student Talent, he/she can earn +3 Karma for conducting academic research. The research time has to be at least 1 game-hour, and the reward is only given once per game-day. The maximum amount of game-time used per game-day for research is 8 hours, thus [8(3) = 24] 24 Karma is the daily maximum. The PC must declare what he/she is researching before any rewards are distributed. If a PC is studying a form of technology, for example an alien-made robot salvaged from a battle, the same rewards apply. This system could be used if a sorcerer is conducting magical exploration at a mystical library.
If the PC holds the Student Talent, going to class could be another way to earn Karma. It could be a physical lab/classroom or going online. Doing so, a PC can earn +3 Karma per class attended. Performing homework assignments are also +3 worth of Karma.
To make being a Student challenging, I would have the PC make Reason FEATs to pass tests, quizzes, exams and drafting essays/papers. Passing a science and/or a magical test would require a Yellow Reason FEAT. Passing a liberal studies or humanities test requires a Green Reason FEAT. A passed test would be a (+5) Karma reward, a failed exam would be (-5) Karma score.
A PC with the Student Talent could earn 2(1d10) Karma by giving a college/university TEDx Talk. This reward is issued per lecture. In addition, a superhero can earn college credit performing one.
*Astronautics: The science of the construction and design of vehicles for travel in space beyond a planet’s atmosphere. A PC with this Talent can study and/or conduct research on existing spacecraft, earning Karma like the Student Talent. In addition, he/she can attempt to build such vehicles, with a +1 CS Reason and -1CS Resource bonus and refer to Aliens & Space Travel spacecraft engineering charts (pp. 5-8). This skill takes up two (2) initial Talent slots.
*Salvage: Talent allows an individual to enter any waste area (junkyard, alleyway dumpster, landfill, illegal dumping spot, hazard/trial zone, corporation-owned pocket dimension, etc.) and find components for inventions/modifications. Intuition or Reason, whichever is higher, is (+1CS) when searching. Finding anything takes time (1-10 hours, must be rolled with a 1d10). A successful FEAT determines the found item. This method reduces the cost of a device (-1CS). In addition, a PC with this skill gains a Waste-Facility/Recycling Business Contact. This skill takes up two (2) Talent slots.
Cryptocurrency: This is a specialized form of Business/Finance. The PC is familiar with the world of cryptocurrency, blockchain technology, the history of Bitcoin, electronic-coin finance and how digital money can be mined. Initial Resources are a minimum of Good, and the PC gains a +1CS for FEAT rolls dealing with spending, investing and trading digital cash. A hero gains a Contact in the Professional category. A villain gains a Contact in the Criminal Business category and knows how the Black Market/Web works.
*Quantum Physics Technology: Having a background in research and development on quantum physics, the hero with this talent can create, repair and tinker with devices that allow teleportation, wormhole travel and integrate warp capabilities and hyperdrive into spacecrafts. Also, this Talent allows the practitioner to create a phase armobattle-suit and/or “phase compatible” devices. The PC can make artificial versions of the following powers: Dimension Travel, Gateway, Teleport Self or Teleport Others (Ultimate Talents Book, p. 23-24). This skill takes up two (2) Talent slots.
*Nanotechnology: This specialized skill focuses on modifying created inventions, by reducing their size. PCs with this Talent can ignore any modifiers relating to size reduction (ex. Portable, Cannot Normally Be Seen, Microscopic, Nano-level and/or Pocket-Sized). This skill takes up two (2) Talent slots.
References
Aliens & Space Travel. https://classicmarvelforever.com/cms/netbooks-and-enhancements.html
Ultimate Talents Book. https://classicmarvelforever.com/cms/netbooks-and-enhancements.html
submitted by SDM1971 to MarvelFASERIP [link] [comments]

China controls 50% of bitcoin mining, the US — 14%, and Russia-8%

China controls 50% of bitcoin mining, the US — 14%, and Russia-8%
Investment company Fidelity and research firm BitOoda published a report on July 16, according to which China accounts for not 65% of bitcoin mining, as previously thought, but only 50%.
Analysts based their research on various sources, including surveys of miners who agreed, on condition of anonymity, to share information about various aspects of mining, including the cost of electricity. The report says:
We were able to find 153 mining facilities that consume ~4.1 GW and 67 facilities that consume ~3 KW, and we have data on electricity prices provided on the condition of anonymity.
BitOoda also found that 14% of bitcoins are mined in the United States. As for the data on Chinese miners, it is difficult to verify them, so 50% of the world's bitcoin production is not the final figure. "Conversations [with miners] suggest that most of the capacity is located in the US, Canada and Iceland, and only a small part is located in China and other countries," the researchers said.

Geographical distribution of bitcoin mining
The survey also showed how flooding in China (the so-called "hydro season") affects the income of miners. Six months a year, miners from Sichuan and similar provinces spend less bitcoins to pay for their expenses.
We oppose the generally accepted view that low electricity prices encourage hashrate growth during the flood season," the researchers write. — We believe that flooding or the hydro season shifts the cost curve by 6 months a year, which leads to a decrease in bitcoin sales to Finance operating expenses, as a result, miners accumulate capital to Finance capacity growth.
According to the attached chart, the price of bitcoin fluctuates inside and outside the hydroseason, while the growth of the bitcoin hashrate remains stable. Manners had to put up with the elements in Sichuan and other provinces, and in recent years there have been numerous reports of massive outages of mining equipment due to flooding.

Compare prices and Hasrat bitcoin depending on floods and \"hydrostone»
Researcher Martin bent (Marty Bent) was pleasantly surprised by the results of the survey:
It is striking to see that the US already accounts for 14% of the hashrate — I expect this figure to grow significantly.... he wrote after the publication of the study.
P.S - You may also be interested in
submitted by btcxlab to CryptoMarkets [link] [comments]

Adult entertainment trough Devil´s Dragon Token

Adult entertainment trough Devil´s Dragon Token
Hello everyone, In this post I would like to talk about some of the DDGN Token features and company achievements.
https://preview.redd.it/of2xxl7gxtg51.png?width=640&format=png&auto=webp&s=b2ed2316a60511260102feb5f1a77750ff0c2c58
The company aims to revolutionize adult entertainment trough blockchain innovations presenting the opportunity to the user to be an active participant in this field using the Ecosystem. DEVIL´S DRAGON TOKEN is fully decentralized autonomous and encrypted. It offers the option to share, publish, and earn through selling, trading, exchanging, and utilizing the features of its ecosystem. A unique multi-use cryptocurrency with many active sites bringing new business models to life and disrupting the high set price of contemporary adult entertainment. DEVIL´S DRAGON TOKEN is a Ethereum based token that will be able to be used with any other Blockchain project or technology that is already operating.
DDGN is used on active sites to access related and wanted content. The full list can be found on the website by clicking on “Sites” or scrolling down. https://www.devilsdragon.com
TOKENOMICS. (ICO Information / Token Economy) Token name: DRAGON DEVIL Token Symbol: DDGN - Supply Token: 180 000 000 NOT MINTABLE Decimal: 18 - Token type: ERC20 CURRENT STATUS: Under Crowdsale with 5% PRE-SALE Token value 2000 DDGN = 1 ETH for PRIVATE - ONLY PRESALE In ITO sale the rate will be 1000 DDGN = 1 ETH START PRESALE: 2020-08-15 00:01 END: 2020-08-31 23:59
!Please note that only Ethereum is accepted. This will ensure transparency and prevent any fraudulent activities that may impact the value of the coins negatively!
Token Allocation: • Presale (PRIVATE SALE) 5% (All unsold tokens will be burned) • Crowdsale 55% (All unsold tokens will be burned) • Team & Partners 9% (Only used for new partnerships and strengthen the Team) • Reserved 6% (For Exchange and Legal Purposes) • Ecosystem 18% (Only used on our platforms like us write in our White Paper) • Development Team 2% (Used only for development and purposes none of these tokens will be sold) • Founder 4% (Used for administrative, regulatory and internal ecosystem needs only) • Ext Developer 1% (Non-Team Developers to be used for Testing and other Development Purposes on all Ecosystems and their features).
At this point DDGN is already listed on MyCryptoCheckout.
https://preview.redd.it/zgif2u4jxtg51.png?width=640&format=png&auto=webp&s=5ac7e157e30e1b15b5a7201370d3437deced898c
The ways to earn will be further possible by rewards and revenue sharing, live broadcasts, moderating content for the approval or disapproval of forum posts, mining for content, and arranging unused hard disk space. These are set just at the start point. The potential of the new features immense.
Presented Roadmap looks great: • Early 2018. KISSES TECH Established as a Czech Company (February) • Between the beginning of 2018 and the end of 2019. Fixed Adult Entertainment Coin + Many other projects related to Adult Entertainment and Blockchain to evolve and gather together: DDGN • Early 2020 Launch of the DDGN Project • Mid 2020 Launch of ETHpimp Q3 2020 ITO DDGN • Late 2020 Alpha version of the DDGN Dedicated Video Platform with a Decentralized Prize Service for Display and Manufacturing works with DDGN. On this platform the goal is to use a few supporting protocols such as ERC721 to make the videos like unique fine art creations. Luring a new business model which is fairer and more transparent. More Active Sites and More Partners for Ecosystems Alpha Version and Initial Registration First Delivery of Crowd Content Funding Network with Prizes & Decentralized Direct Revenue Sharing on the Stock exchange list
• Early 2021 DDGN Platform Beta Version Dedicated Videos that Live Immediately with Real Rewards and Share Earnings for Views & Creations CDCFN.COM Fully Active with the Distribution of Live Prizes and Adding New Sites to the Ecosystem makes DDGN more rare, enjoyable, and valuable to everyone involved.
Also surfing the blog (https://www.devilsdragon.com/blog) I found very interesting facts about CDCFN (Content Delivery Crowd Funding Network): www.cdcfn.com
A forum like website on which people share their original content and earn rewards in DDGN (Devil´s Dragon) Earned DDGN, as mentioned before will be available for exchanging to Bitcoin, Ethereum or other currency. The platform has a members shop, too, where members can earn and spend their earned tokens (DDGN) they gained from the site. Members Shop is integrated to work along side loads of other applications & plugins. Below is presented DDGN Tokens Earning System
  1. Forums - will allow member to earn tokens for starting topics, replying to other topics or to their own one.
  2. Downloads – Earning by uploading files on the platform, reviewing, commenting. Also receiving tokens for each download of their uploaded file.
  3. Calendar – Earning by submitting events, reviewing and commenting on the events.
  4. Gallery - Allowing members to earn for uploading images, reviewing and commenting on images.
  5. Commerce – Earning for a review on a product
  6. Reactions - Allowing members to earn DDGN Tokens for receiving reactions from their content.
  7. Clubs - Awarding users for joining a club and creating topics, replying and uploading files in clubs.
  8. Media Uploader - Awarding DDGN Tokens to users for uploading documents, images, audio and video files.
  9. Bonus DDGN Tokens – Awarding users on a daily, weekly and monthly basis. The user will have to log in at least on time in that period.
  10. Award DDGN Tokens - Awarding DDGN to your selected members or user groups via the ACP. On the user profile a section will be possible to add showing the amount of DDGN and a link to donate. The platform will have integrated Warning System which penalizes members if they receive a warning by removing DDGN tokens and setting different amounts of DDGN for different warn reasons. Members Shop Items – allowing members to spend their tokens Each item can be created unlimited times and admins can select different prices and permissions Creating categories to place the items in Setting moderator permissions to allow certain members to buy items for free All items use their own code Each item can have its own permission settings to select what usergroups can view it, buy it or send it Members can sell back their unwanted items at a cost of a certain % of the items price admins will set in the ACP After a user stores an item it will store the rewards for that purchase, so say they store multiple items, then at a later time admins change the rewards for that item in the ACP, they will still receive the rewards set when they purchased the item The list of default items: • Opening a random post count mystery box • Opening a random reputation DDGN Tokens mystery box • Changing username • Changing member title • Adding or editing signature • Uploading an avatar • Opening a mystery DDGN Tokens box • Opening a mystery items box • Resetting users´ warning DDGN Tokens • Allowing members to go browse anonymous until their session ends • Viewing a password from a password protected forum • Playing Rock, Paper, Scissors, Lizard, Spock • Allowing users to pin topics for a selected amount of days • Allowing members to feature files for a selected amount of days • Upgrading usergroup for x amount of days, months or years • Gambling to win a random trophy from Trophy’s & Medals • Buying a trophy from Trophy’s & Medals • Buying a medal from Trophy’s & Medals • Guessing the number • Embedding a video to profile • Uploading an image to use as a background on profile • Sending a personal sticky note • Adding / Editing social info • Custom Codes / Vouchers / Coupons • Creating custom codes for members to purchase including game codes / voucher codes and so on • Once a user redeems this item they will instantly receive a PM with the code attached
List of custom items: • Each Custom Item has to be manually awarded to the members, it could be for a coupon code, it could be anything • Choosing to receive a notification or email saying x member brought x custom item and admins need to award it • Showing a table in the ACP with all custom purchases users have brought showing if the item has been awarded or not • Adding a block to the ACP dashboard with the total amount of items admins need to award manually
Statistics Pages : • Shows a statistics page with a graph of the global DDGN Tokens gained on platform per day / week / month • Shows another statistics page with a graph of the amount of shop items purchased globally and the global DDGN Tokens spent per day / week / month • Shows a 3rd statistics page with a graph of the global DDGN Tokens won using items what you gamble your DDGN Tokens with
Members Bank: • Allowing members to store their DDGN Tokens in a bank • Charging members to deposit their DDGN Tokens • Awarding interest to members each month on their banked DDGN Tokens • Members can view all their transactions in a nice and tidy pop up table • Showing a table in the ACP with all the members who have created a bank account • Showing a 3D pie chart in the ACP with the DDGN Tokens per member group • Showing a 3D pie chart in the ACP with the current interest to pay per usergroup • Showing a graph of the banks transactions from your selected time periods
ACP: • Showing a table listing all Normal items purchased with all the information of the item purchase • Showing a table listing all custom items purchased with all the information of the item purchase • Showing a table listing all custom code items purchased with all the information of the purchase • Showing a table listing all the membergroup upgrade items purchased with all the information of the upgrade, expire date
• Choosing what user groups can gain DDGN Tokens with-in the forums / downloads / reaction settings • Generating unique purchases • Showing the shop items in a nice and clean node table giving you the ability to drag and drop them to different categories and sort them in your preferred positions • Selecting the amount of items to show per page in the shop and items page • Choosing the select to view the shop page / items page / rewards & logs page from either a table view or a nice new grid view • If admins allow users to send items to others admins can select a % of the value of the item to charge the users to send that item • Picking to show either a category in the sidebar of show the categories in a filter button on the table itself • Adding a block to the ACP dashboard showing the amount of custom items admins need to award to the users
With that said, I would like to hear your opinion about the project and the features that the team provides for us!
All this information and much more can be found on the below links.
Website: https://www.devilsdragon.com/
White paper: https://www.devilsdragon.com/whitepaper.pdf
Blog: https://www.devilsdragon.com/blog/
ANN: https://bitcointalk.org/index.php?topic=5260322
Facebook: https://www.facebook.com/devilsdragonofficial
Twitter: https://twitter.com/dragon_devils
Discord: https://discord.com/invite/xCwyntG
Reddit: https://www.reddit.com/useDevilsDragon
Telegram: https://t.me/devilsdragon_official
E-mail: [email protected]
Company behind of DDGN Token and development of the platform is KISSES TECHNOLOGY (Group) s.r.o
About the author: Proof of authentication link - https://bitcointalk.org/index.php?topic=5260492.msg54989967#msg54989967 Bitcointalk Username - ijeb Bitcointalk URL - https://bitcointalk.org/index.php?action=profile;u=1668500
submitted by ijeblowrider to u/ijeblowrider [link] [comments]

08-13 21:45 - 'Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol' (self.Bitcoin) by /u/Nest_Fan removed from /r/Bitcoin within 24-34min

'''
As the world’s leading regulatory compliant digital asset exchange, Coinbase sets one of the most stringent requirements for digital asset listing which includes technical evaluation of projects, legal and risk analysis, market supply and demand analysis, and crypto-economics. Coinbase holds a strong reputation in the digital asset industry, and thus the “Coinbase Standard” is considered as the industry benchmark for other digital asset projects, and the market has even seen the “Coinbase effect”.
On July 25 2020, Coinbase quietly launched the pricing chart of a decentralized oracle project, NEST Protocol (NEST), into its portal. Although Coinbase has yet to announce the inclusion of the project in its evaluation list, it represents a keen interest in the DeFi sector, and particularly in the DeFi price oracle projects.
NEST Protocol is the rising star in the decentralized price oracle sector
Decentralized financial services offered by the current mainstream DeFi platforms such as MakerDAO, Compound, dYdX, etc. rely heavily on the market data provided by the oracle projects. Oracle projects act as reliable information sources to feed these price data to other DeFi Projects, connecting the price data from the centralized world to the DeFi space. As such, the price oracle is an integral part of the decentralized financial services infrastructure.
Traditionally, the price oracle collects data from different platforms and feeds these data points to the DeFi space to create data reference points to enable them to function properly. However, many problems currently exist in the DeFi space, for example, blockchain network congestion, malicious attacks, wild market fluctuations, and other factors that may cause the data given by the price oracle to deviate from the true market data. These ultimately cause users to trade on wrong information in the DeFi space and increases such transaction costs.
Decentralized finance requires a fast, secure, and reliable price oracle. The birth of the decentralized price oracle is the embodiment of the blockchain industry’s thinking, and the current market projects offering decentralized price oracle services which includes NEST Protocol, Chainlink, Band Protocol, Tellor, Witness, Oraclize, and many others.
The innovation of NEST-Price is that every data point has been agreed upon by market validators, in line with the blockchain consensus mechanism. NEST-Price synchronizes the off-chain price in a highly decentralized manner, creating real and valid price data on-chain. This is the unique differentiator between NEST-Price and other price oracles.
Compared with other price oracle projects, NEST also has other features and advantages, such as the proposed peer-to-peer quotation matching as well as its unique verifier verification structure, making NEST more resilient to malicious attacks, resulting in a more decentralized network, and it’s on-chain prices closer to the fair market price. All of this has resulted in the NEST Protocol becoming a rising star in the DeFi price oracle sector. HBTC.com selects high-quality projects to list and partnering with NEST to promote the development of DeFi ecosystem
During the selection of quality assets, exchanges like [HBTC.com]1 and Coinbase adhere to the principle of a rigorous selection of assets from different projects to enable a proper range of digital assets. At the same time, in order to solve existing pain points in the digital asset industry, which currently lacks a market-making management solution, HBTC.com also has launched its own “coin listing crowdsourcing [liquidity initiative]2 “, redefining the exchange market making model.
HBTC.com, through its coin listing strategy, effectively reduces the problem of low liquidity in the early stages of high-quality projects, ensuring the smoothness of the user experience, and achieves a win-win situation for traders, the community, and the respective trading platform. These initiatives, coupled with reliable user protection and a responsible attitude, have earned a positive reputation among users.
Since its inception, the HBTC.com exchange has been committed to the discovery of both quality and promising digital asset projects. At a time when DeFi is growing rapidly, HBTC.com has a unique perspective for the decentralized price oracle sector and has prioritized NEST as a premium partner to debut the project alongside with its global branding upgrade. In addition, HBTC.com has [100% proof of reserves]3 for traders to validate the existence of assets via the Merkle tree, which brings transparency to the extreme.
In May 2020, NEST token delivered a 883.29% of return, at its peak, after its global debut on HBTC.com. At present, HBTC Exchange addresses holding NEST token accounts in a total of 141 million, ranked first in the overall network. At the same time, the HBTC Exchange network exclusively releases NEST staking mining and data show that NEST 24-hour turnover has reached $20.4 million.
Post-listing of the NEST token, HBTC.com has also listed DeFi projects such as DF, OKS, NEST, SWTH, JST, NVT, and other DeFi projects with market potential; some projects have achieved astonishing performance in the secondary market.
HBTC.com’s path to DeFi: developing public chains to prepare for the future ecosystem breakout.
In terms of the DeFi product and ecosystem infrastructure, HBTC has deployed HBTC Chain since launched in 2018, an infrastructure designed for decentralized finance and DeFi business with patented Bluehelix decentralized cross-chain clearing and custody technology.
The HBTC Chain is the DeFi ecosystem infrastructure that the team has spent a significant amount of effort to build. It is based on decentralization and community consensus and integrates cryptography and blockchain technologies to support decentralized association-based governance capabilities at the technical level. Based on decentralized key management, combining various cryptography tools including ECDSA, commitment, zero-knowledge proof, and multi-party computation, It implements the distributed private key generation and signature for cross-chain assets among all validators. On top of that, this technology can realize light-weight and non-intrusive cross-chain asset custody. On the clearing layer, HBTC Chain employs BHPOS consensus and horizontal sharding mechanisms to achieve high-performing transaction clearing, and implementation of OpenDex protocol to help the development of the DeFi ecosystem.
In addition, with the success experience of Bluehelix Cloud SaaS and white label solutions and the HBTC Brokerage system, HBTC’s public chain also innovatively supports CEX+DEX mixed matchmaking model and OpenDex protocol and proposes the three-tier node system which consists of standard node + consensus node + core node. This structure provides HBTC public chain certain advantages in terms of performance and cross-chain transactions. Users can easily establish a DEX with OpenDex protocol at nearly zero cost, and all DEX will share the liquidity and support customized user interface and trading parameters. The trading experience can be completely comparable to centralized spot exchanges.
With the launch of its test network, it is now possible to develop various DeFi applications on the HBTC public chain, such as decentralized swap, so that private keys are not controlled by any party; no KYC, which can prevent personal information leakage; and asset security through the setting of invalidation, cancellation of transactions and other functions, cross-chain asset mappings, such as the ability to issue cross-chain cBTC or other chain tokens, fully decentralized asset mapping contracts, and 100% reserves.
Conclusion
In the past few months, the DeFi market has been extremely active, the price of DeFi tokens has been rising, and a new round of competition with the centralized exchanges has started. HBTC Chain relies on the powerful technology of Bluehelix and [HBTC.com]1 , giving all public chains the ability to interconnect, and put into both DeFi and SaaS levels. Undoubtedly, as one of the first exchanges to build the DeFi ecosystem, HBTC is leading the breakout in the current DeFi craze and has now become the first choice of users to engage with quality DeFi projects.

From BITCOIN news([[link]6 )
'''
Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol
Go1dfish undelete link
unreddit undelete link
Author: Nest_Fan
1: *btc*com/ 2: m*diu**com/hbt***ficia*/hbt*-launches-ba**liquidi*y***owd*unding-li*ti*g-plan-redefine-t*e*exch*nge-*i*tin**m*d*l***6*58f*f1d* 3: hbtc.ze**e*k*co*/hc/*n-us/a**icles/3***46287754-HBT*-10*-*ro***of*Reserve 4: hb*c.co*/ 5: n*ws.bitcoin.c*m*bu*ld*ng-t**-infr***ructur*-f*r-the*fut*re*decen**ali**d-*inanc*a*-market-coi**as*-*ncluded-h*t*-*o*-*ebut-de**-p*oject-n*st-**otocol* 6: n**s.bit*oin*com/building-th*-infrast*u*ture*for-t*e-fut****decen**a**zed**inancia*-m*rket-coinbase-**c*uded-*b*c-c***deb***defi-**oject-*est**r**ocol/]^^5
Unknown links are censored to prevent spreading illicit content.
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Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8

Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
https://preview.redd.it/mxmlg1zqm7f51.png?width=800&format=png&auto=webp&s=2d900dd5ff7f3b00df5fe5a48305d57ebeffaa9a

Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
------
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Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ

Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ
Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ
Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ
Coinbase support number 1844-699-6794 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located. #@$#@YUYIUO
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Coinbase pro support number 1844-699-6794 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Coinbase support number 1844-699-6794's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Coinbase pro support number 1844-699-6794 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Coinbase support number 1844-699-6794's headquarters?
This seemingly simple question is actually more complex. Until February, Coinbase support number 1844-699-6794 was considered to be based in Malta. That changed when the island European nation announced that, no, Coinbase support number 1844-699-6794 is not under its jurisdiction. Since then Coinbase support number 1844-699-6794 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Coinbase support Service number 1844-699-6794 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Coinbase support number 1844-699-6794 office. Wherever I need somebody, is going to be the Coinbase support number 1844-699-6794 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
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Coinbase Customer Service Number
Coinbase Compailnt Number
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Coinbase Pro Helpline Number Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
Zhao said Coinbase support number 1844-699-6794 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
Coinbase Phone support number 1844-699-6794 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Coinbase support number 1844-699-6794 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Coinbase support number 1844-699-6794, announced that the exchange had frozen the funds. He also added that Coinbase Helpline support number 1844-699-6794 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ
Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ
Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ
Coinbase support number 1844-699-6794 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located. #@$#@YUYIUO
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Coinbase pro support number 1844-699-6794 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Coinbase support number 1844-699-6794's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Coinbase pro support number 1844-699-6794 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
Coinbase Support Number
Coinbase Pro Support Number
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Coinbase Compailnt Number
Coinbase Pro Helpline Number
There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Coinbase support number 1844-699-6794's headquarters?
This seemingly simple question is actually more complex. Until February, Coinbase support number 1844-699-6794 was considered to be based in Malta. That changed when the island European nation announced that, no, Coinbase support number 1844-699-6794 is not under its jurisdiction. Since then Coinbase support number 1844-699-6794 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Coinbase support Service number 1844-699-6794 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Coinbase support number 1844-699-6794 office. Wherever I need somebody, is going to be the Coinbase support number 1844-699-6794 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
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Coinbase Pro Helpline Number Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
Zhao said Coinbase support number 1844-699-6794 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
Coinbase Support Number
Coinbase Pro Support Number
Coinbase Helpline Number
Coinbase Customer Service Number
Coinbase Compailnt Number
Coinbase Pro Helpline Number
Coinbase Phone support number 1844-699-6794 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Coinbase support number 1844-699-6794 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Coinbase support number 1844-699-6794, announced that the exchange had frozen the funds. He also added that Coinbase Helpline support number 1844-699-6794 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
submitted by Beautiful_Implement7 to u/Beautiful_Implement7 [link] [comments]

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IT’S THE DAY! The Bitcoin Block Reward Halving Day! In this video we discuss what is the Bitcoin block halving and how it will affect the price moving forwar... Bitcoin halving 2020 price prediction analysis + bitcoin halving explained on btc charts technicals. Follow Me On Twitter: https://twitter.com/TheRightTrade... Mining Rig Rentals ... bitcoin crash, bitcoin drop, bitcoin price, bitcoin price prediction, bitcoin price analysis, bitcoin the moon, bitcoin ta, bitcoin bull run, bitcoin bearish, bitcoin bear ... Artificial Intelligence Bitcoin price prediction. Using machine learning to predict the future price of bitcoin. What if I told you there was a free tool, yo... Back in 2013, an anonymous figure posted on the r/Bitcoin subreddit claiming to be a time traveller from the year 2025. He made a series of predictions for the price of Bitcoin in future years ...

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