Anonymous BitCoin Wallet Download Your Anonymous Bitcoin ...

Sweeping Paper Wallets (pseudo)Anonymously (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Coinjoin before transferring to cold storage

Hi guys I am learning about bitcoin and its pseudo anonymous nature. Do you think transferring funds from the exchange to one wallet, then transferring the amount to wasabi and then Coinjoin before transferring to one cold storage is worth it in terms of privacy? Is it safe enough to be completely anonymous?
submitted by philbeds to BitcoinBeginners [link] [comments]

South Korea bans all new cryptocurrency sales.

submitted by AdamCannon to worldnews [link] [comments]

Do you remain anonymous when buying bitcoin with credit cards?

I know very little about crypto currencies
My understanding is that since it is decentralized, anyone can trace a transaction from Wallet A to Wallet B. What keeps it anonymous is that no one knows to whom wallets A and B belong (or at least they shouldn't). Right?
But if I buy Bitcoin with credit card from some exchange, they would need to deposit that bitcoin into Wallet C. At the same time, there will be credit card transaction receipt for the same amount. So, at the very least, the exchange would know that Wallet C was funded from my credit card, and therefore belongs to me. And from that point, anyone could trace bitcoin purchases back to this wallet, right?
I could be 100% wrong here, please tell me
submitted by hydraSlav to Bitcoin [link] [comments]

(Vote.Via.Eth) Open Voting/Polling Data Using Honest/Costly Signals. Vote via Shitcoins [Feedback, Questions, and Comments]

Global 2020 United States Presidential Election Poll.
Vote with btc, eth, dai, or any other shit coin you might have!
Dump your shitty airdrops and help develop open voting data and methods!
Uses address values to signal global support for a candidate and the global importance of the overall United States Presidential Elections. Address values before, during, and after Tuesday November 3, 2020 should correlate with various stages of support, a winneloser, and the global reach of the election and this poll. Might provide more insight if paired with data from other sources, because this is the first election cycle and test of vote.via.eth there will be no past polls to compare it to. Please Provide feedback if nothing else. Global participation welcomed.
vote.via.eth | vote2020.via.eth
International voters should use ether of the addresses above to signal that the election is important without making a candidate selection.
NoConfidence2020.via.eth
Voters should use this address to signal distrust in the United States Government and its voting process.
Trump2020.via.eth
Biden2020.via.eth
Sanders2020.via.eth
Warren2020.via.eth
BloomBerg2020
Voters should use one of these to signal support for a specific candidate. If a candidate drops out from the race that address is treated like "vote.via.eth" signalling the election is important.
=== Cost of Participation ===
You forfeit whatever value you choose to send (btc, eth, dai, or any other shit coin), make sure its an amount you are comfortable forfeiting/donating/losing. Obviously this poll/vote will not be used to pick the next President of the United States.
=== Benefits of Participation ===
  1. A public and verifiable vote, proof that it effected the outcome of this poll.
  2. Reasonable belief that the participates in this poll made an honest choice in their selection with full knowledge of its costs. One rich guy can skew the polls but forfeiture of the underlying value is what keeps the poll as honest as possible. Are you really willing to forfeit X amount to show support for Y candidate? Both lying and telling the truth have the same outcome, you forfeit the value and your vote is recorded. Its in everyone best interest to tell the truth.
  3. A free (beer&speech) pseudo-anonymous data set, hosted on the blockchain, with the following associated keywords {internet, voting, ethereum, bitcoin, value}
  4. A test case in blockchain voting/polling.
=== Questions ===
Q. Why Honest/Costly Signalling
A. Because a vote has value.
Q. How can I vote using BTC?
A. Each address has an associated Multi:Coin BTC address viewable using https://ens.domains or https://myetherwallet.com
Q. What will happen to the value I voted with?
A. If you have to ask, vote with a smaller value or a shittier coin.
Q. Voting with money is a terrible idea
A. Voting with money is a terrible idea agreed, some of us have it some don't. voting with some random token (shitcoin) or any value amount you're indifferent about isn't.
Q. It should be 1 vote per person which is in no one way controlled or verifiable here.
A. Sending 1shitcoin is the same as sending .5shitcoin twice but less expensive.
Q. There's no enforcement of any modern voting mechanisms like rank choice voting.
A. It measure support by using Honest/Costly Signalling. Both lying and telling the truth have the same outcome, you lose your value and your vote is recorded. Its in everyone best interest to tell the truth.
Q. Definitely seems like you are just trying to get people to send you crypto.
A. I'm trying to get people to vote in a open, reliable, and verifiable way (It uses ens to make it easy to vote, anyone with a mobile wallet can). It states upfront vote with [Eth, Btc, or any other Shitcoin] and upon voting you forfeit the value. I won't get into the mechanisms used but i can guarantee that after voting you will not have that value so vote honestly and only send an amount you wont notice or the most shit shitcoin you can. You can even make a random token (MyShitCoin) and send it. The value ~$0 is used to record your vote.
Q. No one can trust the owner of those wallets.
A. This is a big fact that is true for any project and wallet. Good thing the trust isn't in the wallets its in the blockchain, even with the via.eth keys I can't change your vote. Forfeit ~$0 of value > Get your vote recorded with the benefits listed above.
submitted by black0ps to GAMETHEORY [link] [comments]

(Vote.Via.Eth) Open Voting/Polling Data Using Honest/Costly Signals. Vote via Shitcoins

Looking for [Comments, Feedback, and Questions] please, Game Theory in comments.
Global 2020 United States Presidential Election Poll.
Vote with btc, eth, dai, or any other shit coin you might have!
Dump your shitty airdrops and help develop open voting data and methods!
Uses address values to signal global support for a candidate and the global importance of the overall United States Presidential Elections. Address values before, during, and after Tuesday November 3, 2020 should correlate with various stages of support, a winneloser, and the global reach of the election and this poll. Might provide more insight if paired with data from other sources, because this is the first election cycle and test of vote.via.eth there will be no past polls to compare it to. Please Provide feedback if nothing else. Global participation welcomed.
vote.via.eth | vote2020.via.eth
International voters should use ether of the addresses above to signal that the election is important without making a candidate selection.
NoConfidence2020.via.eth
Voters should use this address to signal distrust in the United States Government and its voting process.
Trump2020.via.eth
Biden2020.via.eth
Sanders2020.via.eth
Warren2020.via.eth
BloomBerg2020
Voters should use one of these to signal support for a specific candidate. If a candidate drops out from the race that address is treated like "vote.via.eth" signalling the election is important.
=== Cost of Participation ===
You forfeit whatever value you choose to send (btc, eth, dai, or any other shit coin), make sure its an amount you are comfortable forfeiting/donating/losing. Obviously this poll/vote will not be used to pick the next President of the United States.
=== Benefits of Participation ===
  1. A public and verifiable vote, proof that it effected the outcome of this poll.
  2. Reasonable belief that the participates in this poll made an honest choice in their selection with full knowledge of its costs. One rich guy can skew the polls but forfeiture of the underlying value is what keeps the poll as honest as possible. Are you really willing to forfeit X amount to show support for Y candidate? Both lying and telling the truth have the same outcome, you lose your value. Its in everyone best interest to tell the truth.
  3. A free (beer&speech) pseudo-anonymous data set, hosted on the blockchain, with the following associated keywords {internet, voting, ethereum, bitcoin, value}
  4. A test case in blockchain voting/polling.
=== Questions ===
Q. Why Honest/Costly Signalling
A. Because a vote has value.
Q. How can I vote using BTC?
A. Each address has an associated Multi:Coin BTC address viewable using https://ens.domains or https://myetherwallet.com
Q. What will happen to the value I voted with?
A. If you have to ask, vote with a smaller value or a shittier coin.
Q. Voting with money is a terrible idea
A. Voting with money is a terrible idea agreed, some of us have it some don't. voting with some random token (shitcoin) or any value amount you're indifferent about isn't.
Q. It should be 1 vote per person which is in no one way controlled or verifiable here.
A. Sending 1shitcoin is the same as sending .5shitcoin twice, but less expensive.
Q. There's no enforcement of any modern voting mechanisms like rank choice voting.
A. It measure support by using Honest/Costly Signalling. Both lying and telling the truth have the same outcome, you lose your value. Its in everyone best interest to tell the truth.
Q. Definitely seems like you are just trying to get people to send you crypto.
A. I'm trying to get people to vote in a open, reliable, and verifiable way (It uses ens to make it easy to vote, anyone with a mobile wallet can). It states upfront vote with [Eth, Btc, or any other Shitcoin] and upon voting you forfeit the value. I won't get into the mechanisms used but i can guarantee that after voting you will not have that value so vote honestly and only send an amount you wont notice.
submitted by black0ps to CryptoCurrency [link] [comments]

Traceability of Bitcoin-Transactions / How to stay fully anonymous?

Hey guys.
I don't really know that much about Bitcoin and got a question, I thought this might be the best place to ask about this.
So I'm planning on finally getting a VPN and have been eyeing Mullvad, which seems to be a very trustable and anonymous Provider. Upon Account-creation you just get a number, that's your whole account: no username, no email, no nothing, just that number. That means not even they can connect your identity with your account.
The only thing that might connect the account and your identity is the payment. To be FULLY anonymous it wouldn't be smart to pay by bank transfer or with your every day PayPal-Account, but luckily they offer to pay with Bitcoin and Bitcoin Cash.
As far as I know Bitcoin is just pseudo anonymous, as you can trace back every transaction to the wallets it came from, and at one point in time you had to create an account somewhere with your personal information to even buy Bitcoin in the first place.
Which brings me to my question: Is there any way to stay fully anonymous the whole way, buying and sending Bitcoin?
There are services like anycoindirect.eu where you can buy Bitcoin etc. and send them directly to an address you'd like to. (In this case I'd send it to the payment address for the VPN) But to do that you have to create an account there with your personal information yada yada yada. I guess they have one address where they keep their Bitcoin and send it from this address to wherever. Would this be directly traceable to ones account? Or would this step make the payment of the VPN untraceable to my accountdata on their site?
Before there arises suspicion: I don't wanna do some highly illegal things, don't worry haha. Most illegal thing would maybe be some torrenting from time to time lol. I just want to be sure that there is no way I can be traced by paying and using this VPN.
Well before I write a whole book I'll keep it at that..
Thanks for helping out a cryptodummy :-)
submitted by Polyoxi to Bitcoin [link] [comments]

(Vote.Via.Eth) Open Voting/Polling Data Using Honest/Costly Signals. Vote via Shitcoins [Feedback, Questions, and Comments]

Global 2020 United States Presidential Election Poll.
Vote with btc, eth, dai, or any other shit coin you might have!
Dump your shitty airdrops and help develop open voting data and methods!
Uses address values to signal global support for a candidate and the global importance of the overall United States Presidential Elections. Address values before, during, and after Tuesday November 3, 2020 should correlate with various stages of support, a winneloser, and the global reach of the election and this poll. Might provide more insight if paired with data from other sources, because this is the first election cycle and test of vote.via.eth there will be no past polls to compare it to. Please Provide feedback if nothing else. Global participation welcomed.
vote.via.eth | vote2020.via.eth
International voters should use ether of the addresses above to signal that the election is important without making a candidate selection.
NoConfidence2020.via.eth
Voters should use this address to signal distrust in the United States Government and its voting process.
Trump2020.via.eth
Biden2020.via.eth
Sanders2020.via.eth
Warren2020.via.eth
BloomBerg2020
Voters should use one of these to signal support for a specific candidate. If a candidate drops out from the race that address is treated like "vote.via.eth" signalling the election is important.
=== Cost of Participation ===
You forfeit whatever value you choose to send (btc, eth, dai, or any other shit coin), make sure its an amount you are comfortable forfeiting/donating/losing. Obviously this poll/vote will not be used to pick the next President of the United States.
=== Benefits of Participation ===
  1. A public and verifiable vote, proof that it effected the outcome of this poll.
  2. Reasonable belief that the participates in this poll made an honest choice in their selection with full knowledge of its costs. One rich guy can skew the polls but forfeiture of the underlying value is what keeps the poll as honest as possible. Are you really willing to forfeit X amount to show support for Y candidate? Both lying and telling the truth have the same outcome, you forfeit the value and your vote is recorded. Its in everyone best interest to tell the truth.
  3. A free (beer&speech) pseudo-anonymous data set, hosted on the blockchain, with the following associated keywords {internet, voting, ethereum, bitcoin, value}
  4. A test case in blockchain voting/polling.
=== Questions ===
Q. Why Honest/Costly Signalling
A. Because a vote has value.
Q. How can I vote using BTC?
A. Each address has an associated Multi:Coin BTC address viewable using https://ens.domains or https://myetherwallet.com
Q. What will happen to the value I voted with?
A. If you have to ask, vote with a smaller value or a shittier coin.
Q. Voting with money is a terrible idea
A. Voting with money is a terrible idea agreed, some of us have it some don't. voting with some random token (shitcoin) or any value amount you're indifferent about isn't.
Q. It should be 1 vote per person which is in no one way controlled or verifiable here.
A. Sending 1shitcoin is the same as sending .5shitcoin twice but less expensive.
Q. There's no enforcement of any modern voting mechanisms like rank choice voting.
A. It measure support by using Honest/Costly Signalling. Both lying and telling the truth have the same outcome, you lose your value and your vote is recorded. Its in everyone best interest to tell the truth.
Q. Definitely seems like you are just trying to get people to send you crypto.
A. I'm trying to get people to vote in a open, reliable, and verifiable way (It uses ens to make it easy to vote, anyone with a mobile wallet can). It states upfront vote with [Eth, Btc, or any other Shitcoin] and upon voting you forfeit the value. I won't get into the mechanisms used but i can guarantee that after voting you will not have that value so vote honestly and only send an amount you wont notice or the most shit shitcoin you can. You can even make a random token (MyShitCoin) and send it. The value ~$0 is used to record your vote.
Q. No one can trust the owner of those wallets.
A. This is a big fact that is true for any project and wallet. Good thing the trust isn't in the wallets its in the blockchain, even with the via.eth keys I can't change your vote. Forfeit ~$0 of value > Get your vote recorded with the benefits listed above.
submitted by black0ps to datascience [link] [comments]

02-23 14:44 - 'Discover how to multiply your Bitcoin six times over in less than six months without doing a single thing for free' (self.Bitcoin) by /u/WerbungHD removed from /r/Bitcoin within 0-8min

'''
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Amfeix BTC Wallet: [[link]9
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Local credentials -> Nobody can hack your keys on Amfeix servers. You own your keys and passwords on your device.
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What makes Amfeix stand out?
Unlike every other fund Amfeix doesn’t charge any flat fees, apart from a 20% profit fee. Amfeix only makes money if you make money. They are financially dependent to deliver returns on your capital.
And if you don’t get the returns you want on your investments, you can exit the fund at any given time. Simple. Easy. And free. What is there for you to lose?
Don’t miss this opportunity and create an account anonymously and for free RIGHT NOW!
Are you ready to get started? Don’t miss this opportunity. Click the link down below to invest in the first blockchain fund RIGHT NOW.
[[link]10
'''
Discover how to multiply your Bitcoin six times over in less than six months without doing a single thing for free
Go1dfish undelete link
unreddit undelete link
Author: WerbungHD
1: *w*.tr**tpilot**om/r*view/am*e*x.com 2: *ww.youtu**.*om/watch?v=r***M*1tx*I 3: e*hersc*n**o*address/0xb09*3da*ba**0*71*583*52f5000df4*d4*5*9*5 4: w*w*b*ockchain.*om/btc/*ddr**s/*3ns4GGpz7vVAfoXD***twd*X*wt**tT*w 5: *m*eix*o*tal.com*pl*tform/referr*****gPi5JGY62*7hCD*U*V*J*syt**DkWj*4xUr*LDZrNV 6: *w*.t*ustpil*t.com/*evie*/amf**x*c*m]^^1 7: www.yout*be.c**/wa*ch?*=r-Py*51*x8*]**2 8: etherscan.io/a***e*s/0xb09*3da*ba*f*87*15*3***f*0*0df44d4f5**25]^^3 9: **w.**ock*hain.**m/btc/ad*re*s/33ns**G*z*vVAfoXDp*ttw*7Xkwtn*tTj*]^^4 10: *mfeixpor*al.c*m/pla*for*/re***r***gPi5J*Y6*b*hCDnU*VqJ*sy*hH*kWjG4xUrVL*ZrN*]^*5
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Your Guide to Monero, and Why It Has Great Potential

/////Your Guide to Monero, and Why It Has Great Potential/////

Marketing.
It's a dirty word for most members of the Monero community.
It is also one of the most divisive words in the Monero community. Yet, the lack of marketing is one of the most frustrating things for many newcomers.
This is what makes this an unusual post from a member of the Monero community.
This post is an unabashed and unsolicited analyzation of why I believe Monero to have great potential.
Below I have attempted to outline different reasons why Monero has great potential, beginning with upcoming developments and use cases, to broader economic motives, speculation, and key issues for it to overcome.
I encourage you to discuss and criticise my musings, commenting below if you feel necessary to do so.

///Upcoming Developments///

Bulletproofs - A Reduction in Transaction Sizes and Fees
Since the introduction of Ring Confidential Transactions (Ring CT), transaction amounts have been hidden in Monero, albeit at the cost of increased transaction fees and sizes. In order to mitigate this issue, Bulletproofs will soon be added to reduce both fees and transaction size by 80% to 90%. This is great news for those transacting smaller USD amounts as people commonly complained Monero's fees were too high! Not any longer though! More information can be found here. Bulletproofs are already working on the Monero testnet, and developers were aiming to introduce them in March 2018, however it could be delayed in order to ensure everything is tried and tested.
Multisig
Multisig has recently been merged! Mulitsig, also called multisignature, is the requirement for a transaction to have two or more signatures before it can be executed. Multisig transactions and addresses are indistinguishable from normal transactions and addresses in Monero, and provide more security than single-signature transactions. It is believed this will lead to additional marketplaces and exchanges to supporting Monero.
Kovri
Kovri is an implementation of the Invisible Internet Project (I2P) network. Kovri uses both garlic encryption and garlic routing to create a private, protected overlay-network across the internet. This overlay-network provides users with the ability to effectively hide their geographical location and internet IP address. The good news is Kovri is under heavy development and will be available soon. Unlike other coins' false privacy claims, Kovri is a game changer as it will further elevate Monero as the king of privacy.
Mobile Wallets
There is already a working Android Wallet called Monerujo available in the Google Play Store. X Wallet is an IOS mobile wallet. One of the X Wallet developers recently announced they are very, very close to being listed in the Apple App Store, however are having some issues with getting it approved. The official Monero IOS and Android wallets, along with the MyMonero IOS and Android wallets, are also almost ready to be released, and can be expected very soon.
Hardware Wallets
Hardware wallets are currently being developed and nearing completion. Because Monero is based on the CryptoNote protocol, it means it requires unique development in order to allow hardware wallet integration. The Ledger Nano S will be adding Monero support by the end of Q1 2018. There is a recent update here too. Even better, for the first time ever in cryptocurrency history, the Monero community banded together to fund the development of an exclusive Monero Hardware Wallet, and will be available in Q2 2018, costing only about $20! In addition, the CEO of Trezor has offered a 10BTC bounty to whoever can provide the software to allow Monero integration. Someone can be seen to already be working on that here.
TAILS Operating System Integration
Monero is in the progress of being packaged in order for it to be integrated into TAILS and ready to use upon install. TAILS is the operating system popularised by Edward Snowden and is commonly used by those requiring privacy such as journalists wanting to protect themselves and sources, human-right defenders organizing in repressive contexts, citizens facing national emergencies, domestic violence survivors escaping from their abusers, and consequently, darknet market users.
In the meantime, for those users who wish to use TAILS with Monero, u/Electric_sheep01 has provided Sheep's Noob guide to Monero GUI in Tails 3.2, which is a step-by-step guide with screenshots explaining how to setup Monero in TAILS, and is very easy to follow.
Mandatory Hardforks
Unlike other coins, Monero receives a protocol upgrade every 6 months in March and September. Think of it as a Consensus Protocol Update. Monero's hard forks ensure quality development takes place, while preventing political or ideological issues from hindering progress. When a hardfork occurs, you simply download and use the new daemon version, and your existing wallet files and copy of the blockchain remain compatible. This reddit post provides more information.
Dynamic fees
Many cryptocurrencies have an arbitrary block size limit. Although Monero has a limit, it is adaptive based on the past 100 blocks. Similarly, fees change based on transaction volume. As more transactions are processed on the Monero network, the block size limit slowly increases and the fees slowly decrease. The opposite effect also holds true. This means that the more transactions that take place, the cheaper the fees!
Tail Emission and Inflation
There will be around 18.4 million Monero mined at the end of May 2022. However, tail emission will kick in after that which is 0.6 XMR, so it has no fixed limit. Gundamlancer explains that Monero's "main emission curve will issue about 18.4 million coins to be mined in approximately 8 years. (more precisely 18.132 Million coins by ca. end of May 2022) After that, a constant "tail emission" of 0.6 XMR per 2-minutes block (modified from initially equivalent 0.3 XMR per 1-minute block) will create a sub-1% perpetual inflatio starting with 0.87% yearly inflation around May 2022) to prevent the lack of incentives for miners once a currency is not mineable anymore.
Monero Research Lab
Monero has a group of anonymous/pseudo-anonymous university academics actively researching, developing, and publishing academic papers in order to improve Monero. See here and here. The Monero Research Lab are acquainted with other members of cryptocurrency academic community to ensure when new research or technology is uncovered, it can be reviewed and decided upon whether it would be beneficial to Monero. This ensures Monero will always remain a leading cryptocurrency. A recent end of 2017 update from a MRL researcher can be found here.

///Monero's Technology - Rising Above The Rest///

Monero Has Already Proven Itself To Be Private, Secure, Untraceable, and Trustless
Monero is the only private, untraceable, trustless, secure and fungible cryptocurrency. Bitcoin and other cryptocurrencies are TRACEABLE through the use of blockchain analytics, and has lead to the prosecution of numerous individuals, such as the alleged Alphabay administrator Alexandre Cazes. In the Forfeiture Complaint which detailed the asset seizure of Alexandre Cazes, the anonymity capabilities of Monero were self-demonstrated by the following statement of the officials after the AlphaBay shutdown: "In total, from CAZES' wallets and computer agents took control of approximately $8,800,000 in Bitcoin, Ethereum, Monero and Zcash, broken down as follows: 1,605.0503851 Bitcoin, 8,309.271639 Ethereum, 3,691.98 Zcash, and an unknown amount of Monero".
Privacy CANNOT BE OPTIONAL and must be at a PROTOCOL LEVEL. With Monero, privacy is mandatory, so that everyone gets the benefits of privacy without any transactions standing out as suspicious. This is the reason Darknet Market places are moving to Monero, and will never use Verge, Zcash, Dash, Pivx, Sumo, Spectre, Hush or any other coins that lack good privacy. Peter Todd (who was involved in the Zcash trusted setup ceremony) recently reiterated his concerns of optional privacy after Jeffrey Quesnelle published his recent paper stating 31.5% of Zcash transactions may be traceable, and that only ~1% of the transactions are pure privacy transactions (i.e., z -> z transactions). When the attempted private transactions stand out like a sore thumb there is no privacy, hence why privacy cannot be optional. In addition, in order for a cryptocurrency to truly be private, it must not be controlled by a centralised body, such as a company or organisation, because it opens it up to government control and restrictions. This is no joke, but Zcash is supported by DARPA and the Israeli government!.
Monero provides a stark contrast compared to other supposed privacy coins, in that Monero does not have a rich list! With all other coins, you can view wallet balances on the blockexplorers. You can view Monero's non-existent rich list here to see for yourself.
I will reiterate here that Monero is TRUSTLESS. You don't need to rely on anyone else to protect your privacy, or worry about others colluding to learn more about you. No one can censor your transaction or decide to intervene. Monero is immutable, unlike Zcash, in which the lead developer Zooko publicly tweeted the possibility of providing a backdoor for authorities to trace transactions. To Zcash's demise, Zooko famously tweeted:
" And by the way, I think we can successfully make Zcash too traceable for criminals like WannaCry, but still completely private & fungible. …"
Ethereum's track record of immutability is also poor. Ethereum was supposed to be an immutable blockchain ledger, however after the DAO hack this proved to not be the case. A 2016 article on Saintly Law summarised the problematic nature of Ethereum's leadership and blockchain intervention:
" Many ethereum and blockchain advocates believe that the intervention was the wrong move to make in this situation. Smart contracts are meant to be self-executing, immutable and free from disturbance by organisations and intermediaries. Yet the building block of all smart contracts, the code, is inherently imperfect. This means that the technology is vulnerable to the same malicious hackers that are targeting businesses and governments. It is also clear that the large scale intervention after the DAO hack could not and would not likely be taken in smaller transactions, as they greatly undermine the viability of the cryptocurrency and the technology."
Monero provides Fungibility and Privacy in a Cashless World
As outlined on GetMonero.org, fungibility is the property of a currency whereby two units can be substituted in place of one another. Fungibility means that two units of a currency can be mutually substituted and the substituted currency is equal to another unit of the same size. For example, two $10 bills can be exchanged and they are functionally identical to any other $10 bill in circulation (although $10 bills have unique ID numbers and are therefore not completely fungible). Gold is probably a closer example of true fungibility, where any 1 oz. of gold of the same grade is worth the same as another 1 oz. of gold. Monero is fungible due to the nature of the currency which provides no way to link transactions together nor trace the history of any particular XMR. 1 XMR is functionally identical to any other 1 XMR. Fungibility is an advantage Monero has over Bitcoin and almost every other cryptocurrency, due to the privacy inherent in the Monero blockchain and the permanently traceable nature of the Bitcoin blockchain. With Bitcoin, any BTC can be tracked by anyone back to its creation coinbase transaction. Therefore, if a coin has been used for an illegal purpose in the past, this history will be contained in the blockchain in perpetuity.
A great example of Bitcoin's lack of fungibility was reposted by u/ViolentlyPeaceful:
"Imagine you sell cupcakes and receive Bitcoin as payment. It turns out that someone who owned that Bitcoin before you was involved in criminal activity. Now you are worried that you have become a suspect in a criminal case, because the movement of funds to you is a matter of public record. You are also worried that certain Bitcoins that you thought you owned will be considered ‘tainted’ and that others will refuse to accept them as payment."
This lack of fungibility means that certain businesses will be obligated to avoid accepting BTC that have been previously used for purposes which are illegal, or simply run afoul of their Terms of Service. Currently some large Bitcoin companies are blocking, suspending, or closing accounts that have received Bitcoin used in online gambling or other purposes deemed unsavory by said companies. Monero has been built specifically to address the problem of traceability and non-fungibility inherent in other cryptocurrencies. By having completely private transactions Monero is truly fungible and there can be no blacklisting of certain XMR, while at the same time providing all the benefits of a secure, decentralized, permanent blockchain.
The world is moving cashless. Fact. The ramifications of this are enormous as we move into a cashless world in which transactions will be tracked and there is a potential for data to be used by third parties for adverse purposes. While most new cryptocurrency investors speculate upon vaporware ICO tokens in the hope of generating wealth, Monero provides salvation for those in which financial privacy is paramount. Too often people equate Monero's features with criminal endeavors. Privacy is not a crime, and is necessary for good money. Transparency in Monero is possible OFF-CHAIN, which offers greater transparency and flexibility. For example, a Monero user may share their Private View Key with their accountant for tax purposes.
Monero aims to be adopted by more than just those with nefarious use cases. For example, if you lived in an oppressive religious regime and wanted to buy a certain item, using Monero would allow you to exchange value privately and across borders if needed. Another example is that if everybody can see how much cryptocurrency you have in your wallet, then a certain service might decide to charge you more, and bad actors could even use knowledge of your wallet balance to target you for extortion purposes. For example, a Russian cryptocurrency blogger was recently beaten and robbed of $425k. This is why FUNGIBILITY IS ESSENTIAL. To summarise this in a nutshell:
"A lack of fungibility means that when sending or receiving funds, if the other person personally knows you during a transaction, or can get any sort of information on you, or if you provide a residential address for shipping etc. – you could quite potentially have them use this against you for personal gain"
For those that wish to seek more information about why Monero is a superior form of money, read The Merits of Monero: Why Monero Vs Bitcoin over on the Monero.how website.
Monero's Humble Origins
Something that still rings true today despite the great influx of money into cryptocurrencies was outlined in Nick Tomaino's early 2016 opinion piece. The author claimed that "one of the most interesting aspects of Monero is that the project has gained traction without a crowd sale pre-launch, without VC funding and any company or well-known investors and without a pre-mine. Like Bitcoin in the early days, Monero has been a purely grassroots movement that was bootstrapped by the creator and adopted organically without any institutional buy-in. The creator and most of the core developers serve the community pseudonymously and the project was launched on a message board (similar to the way Bitcoin was launched on an email newsletter)."
The Organic Growth of the Monero Community
The Monero community over at monero is exponentially growing. You can view the Monero reddit metrics here and see that the Monero subreddit currently gains more than 10,000 (yes, ten thousand!) new subscribers every 10 days! Compare this to most of the other coins out there, and it proves to be one of the only projects with real organic growth. In addition to this, the community subreddits are specifically divided to ensure the main subreddit remains unbiased, tech focused, with no shilling or hype. All trading talk is designated to xmrtrader, and all memes at moonero.
Forum Funding System
While most contributors have gratefully volunteered their time to the project, Monero also has a Forum Funding System in which money is donated by community members to ensure it attracts and retains the brightest minds and most skilled developers. Unlike ICOs and other cryptocurrencies, Monero never had a premine, and does not have a developer tax. If ANYONE requires funding for a Monero related project, then they can simply request funding from the community, and if the community sees it as beneficial, they will donate. Types of projects range from Monero funding for local meet ups, to paying developers for their work.
Monero For Goods, Services, and Market Places
There is a growing number of online goods and services that you can now pay for with Monero. Globee is a service that allows online merchants to accept payments through credit cards and a host of cryptocurrencies, while being settled in Bitcoin, Monero or fiat currency. Merchants can reach a wider variety of customers, while not needing to invest in additional hardware to run cryptocurrency wallets or accept the current instability of the cryptocurrency market. Globee uses all of the open source API's that BitPay does making integrations much easier!
Project Coral Reef is a service which allows you to shop and pay for popular music band products and services using Monero.
Linux, Veracrypt, and a whole array of VPNs now accept Monero.
There is a new Monero only marketplace called Annularis currently being developed which has been created for those who value financial privacy and economic freedom, and there are rumours Open Bazaar is likely to support Monero once Multisig is implemented.
In addition, Monero is also supported by The Living Room of Satoshi so you can pay bills or credit cards directly using Monero.
Monero can be found on a growing number of cryptocurrency exchange services such as Bittrex, Poloniex, Cryptopia, Shapeshift, Changelly, Bitfinex, Kraken, Bisq, Tux, and many others.
For those wishing to purchase Monero anonymously, there are services such as LocalMonero.co and Moneroforcash.com.
With XMR.TO you can pay Bitcoin addresses directly with Monero. There are no other fees than the miner ones. All user records are purged after 48 hours. XMR.TO has also been added as an embedded feature into the Monerujo android wallet.
Coinhive Browser-Based Mining
Unlike Bitcoin, Monero can be mined using CPUs and GPUs. Not only does this encourage decentralisation, it also opens the door to browser based mining. Enter side of stage, Coinhive browser-based mining. As described by Hon Lau on the Symnatec Blog Browser-based mining, as its name suggests, is a method of cryptocurrency mining that happens inside a browser and is implemented using Javascript. Coinhive is marketed as an alternative to browser ad revenue. The motivation behind this is simple: users pay for the content indirectly by coin mining when they visit the site and website owners don't have to bother users with sites laden with ads, trackers, and all the associated paraphern. This is great, provided that the websites are transparent with site visitors and notify users of the mining that will be taking place, or better still, offer users a way to opt in, although this hasn't always been the case thus far.
Skepticism Sunday
The main Monero subreddit has weekly Skepticism Sundays which was created with the purpose of installing "a culture of being scientific, skeptical, and rational". This is used to have open, critical discussions about monero as a technology, it's economics, and so on.

///Speculation///

Major Investors And Crypto Figureheads Are Interested
Ari Paul is the co-founder and CIO of BlockTower Capital. He was previously a portfolio manager for the University of Chicago's $8 billion endowment, and a derivatives market maker and proprietary trader for Susquehanna International Group. Paul was interviewed on CNBC on the 26th of December and when asked what was his favourite coin was, he stated "One that has real fundamental value besides from Bitcoin is Monero" and said it has "very strong engineering". In addition, when he was asked if that was the one used by criminals, he replied "Everything is used by criminals including the US dollar and the Euro". Paul later supported these claims on Twitter, recommending only Bitcoin and Monero as long-term investments.
There are reports that "Roger Ver, earlier known as 'Bitcoin Jesus' for his evangelical support of the Bitcoin during its early years, said his investment in Monero is 'substantial' and his biggest in any virtual currency since Bitcoin.
Charlie Lee, the creator of Litecoin, has publicly stated his appreciation of Monero. In a September 2017 tweet directed to Edward Snowden explaining why Monero is superior to Zcash, Charlie Lee tweeted:
All private transactions, More tested privacy tech, No tax on miners to pay investors, No high inflation... better investment.
John McAfee, arguably cryptocurrency's most controversial character at the moment, has publicly supported Monero numerous times over the last twelve months(before he started shilling ICOs), and has even claimed it will overtake Bitcoin.
Playboy instagram celebrity Dan Bilzerian is a Monero investor, with 15% of his portfolio made up of Monero.
Finally, while he may not be considered a major investor or figurehead, Erik Finman, a young early Bitcoin investor and multimillionaire, recently appeared in a CNBC Crypto video interview, explaining why he isn't entirely sold on Bitcoin anymore, and expresses his interest in Monero, stating:
"Monero is a really good one. Monero is an incredible currency, it's completely private."
There is a common belief that most of the money in cryptocurrency is still chasing the quick pump and dumps, however as the market matures, more money will flow into legitimate projects such as Monero. Monero's organic growth in price is evidence smart money is aware of Monero and gradually filtering in.
The Bitcoin Flaw
A relatively unknown blogger named CryptoIzzy posted three poignant pieces regarding Monero and its place in the world. The Bitcoin Flaw: Monero Rising provides an intellectual comparison of Monero to other cryptocurrencies, and Valuing Cryptocurrencies: An Approach outlines methods of valuing different coins.
CryptoIzzy's most recent blog published only yesterday titled Monero Valuation - Update and Refocus is a highly recommended read. It touches on why Monero is much more than just a coin for the Darknet Markets, and provides a calculated future price of Monero.
CryptoIzzy also published The Power of Money: A Case for Bitcoin, which is an exploration of our monetary system, and the impact decentralised cryptocurrencies such as Bitcoin and Monero will have on the world. In the epilogue the author also provides a positive and detailed future valuation based on empirical evidence. CryptoIzzy predicts Monero to easily progress well into the four figure range.
Monero Has a Relatively Small Marketcap
Recently we have witnessed many newcomers to cryptocurrency neglecting to take into account coins' marketcap and circulating supply, blindly throwing money at coins under $5 with inflated marketcaps and large circulating supplies, and then believing it's possible for them to reach $100 because someone posted about it on Facebook or Reddit.
Compared to other cryptocurrencies, Monero still has a low marketcap, which means there is great potential for the price to multiply. At the time of writing, according to CoinMarketCap, Monero's marketcap is only a little over $5 billion, with a circulating supply of 15.6 million Monero, at a price of $322 per coin.
For this reason, I would argue that this is evidence Monero is grossly undervalued. Just a few billion dollars of new money invested in Monero can cause significant price increases. Monero's marketcap only needs to increase to ~$16 billion and the price will triple to over $1000. If Monero's marketcap simply reached ~$35 billion (just over half of Ripple's $55 billion marketcap), Monero's price will increase 600% to over $2000 per coin.
Another way of looking at this is Monero's marketcap only requires ~$30 billion of new investor money to see the price per Monero reach $2000, while for Ethereum to reach $2000, Ethereum's marketcap requires a whopping ~$100 billion of new investor money.
Technical Analysis
There are numerous Monero technical analysts, however none more eerily on point than the crowd-pleasing Ero23. Ero23's charts and analysis can be found on Trading View. Ero23 gained notoriety for his long-term Bitcoin bull chart published in February, which is still in play today. Head over to his Trading View page to see his chart: Monero's dwindling supply. $10k in 2019 scenario, in which Ero23 predicts Monero to reach $10,000 in 2019. There is also this chart which appears to be freakishly accurate and is tracking along perfectly today.
Coinbase Rumours
Over the past 12 months there have been ongoing rumours that Monero will be one of the next cryptocurrencies to be added to Coinbase. In January 2017, Monero Core team member Riccardo 'Fluffypony' Spagni presented a talk at Coinbase HQ. In addition, in November 2017 GDAX announced the GDAX Digit Asset Framework outlining specific parameters cryptocurrencies must meet in order to be added to the exchange. There is speculation that when Monero has numerous mobile and hardware wallets available, and multisig is working, then it will be added. This would enable public accessibility to Monero to increase dramatically as Coinbase had in excess of 13 million users as of December, and is only going to grow as demand for cryptocurrencies increases. Many users argue that due to KYC/AML regulations, Coinbase will never be able to add Monero, however the Kraken exchange already operates in the US and has XMfiat pairs, so this is unlikely to be the reason Coinbase is yet to implement XMfiat trading.
Monero Is Not an ICO Scam
It is likely most of the ICOs which newcomers invest in, hoping to get rich quick, won't even be in the Top 100 cryptocurrencies next year. A large portion are most likely to be pumps and dumps, and we have already seen numerous instances of ICO exit scams. Once an ICO raises millions of dollars, the developers or CEO of the company have little incentive to bother rolling out their product or service when they can just cash out and leave. The majority of people who create a company to provide a service or product, do so in order to generate wealth. Unless these developers and CEOs are committed and believed in their product or service, it's likely that the funds raised during the ICO will far exceed any revenue generated from real world use cases.
Monero is a Working Currency, Today
Monero is a working currency, here today.
The majority of so called cryptocurrencies that exist today are not true currencies, and do not aim to be. They are a token of exchange. They are like a share in a start-up company hoping to use blockchain technology to succeed in business. A crypto-assest is a more accurate name for coins such as Ethereum, Neo, Cardano, Vechain, etc.
Monero isn't just a vaporware ICO token that promises to provide a blockchain service in the future. It is not a platform for apps. It is not a pump and dump coin.
Monero is the only coin with all the necessary properties to be called true money.
Monero is private internet money.
Some even describe Monero as an online Swiss Bank Account or Bitcoin 2.0, and it is here to continue on from Bitcoin's legacy.
Monero is alleviating the public from the grips of banks, and protests the monetary system forced upon us.
Monero only achieved this because it is the heart and soul, and blood, sweat, and tears of the contributors to this project. Monero supporters are passionate, and Monero has gotten to where it is today thanks to its contributors and users.

///Key Issues for Monero to Overcome///

Scalability
While Bulletproofs are soon to be implemented in order to improve Monero's transaction sizes and fees, scalability is an issue for Monero that is continuously being assessed by Monero's researchers and developers to find the most appropriate solution. Ricardo 'Fluffypony' Spagni recently appeared on CNBC's Crypto Trader, and when asked whether Monero is scalable as it stands today, Spagni stated that presently, Monero's on-chain scaling is horrible and transactions are larger than Bitcoin's (because of Monero's privacy features), so side-chain scaling may be more efficient. Spagni elaborated that the Monero team is, and will always be, looking for solutions to an array of different on-chain and off-chain scaling options, such as developing a Mimblewimble side-chain, exploring the possibility of Lightning Network so atomic swaps can be performed, and Tumblebit.
In a post on the Monero subreddit from roughly a month ago, monero moderator u/dEBRUYNE_1 supports Spagni's statements. dEBRUYNE_1 clarifies the issue of scalability:
"In Bitcoin, the main chain is constrained and fees are ludicrous. This results in users being pushed to second layer stuff (e.g. sidechains, lightning network). Users do not have optionality in Bitcoin. In Monero, the goal is to make the main-chain accessible to everyone by keeping fees reasonable. We want users to have optionality, i.e., let them choose whether they'd like to use the main chain or second layer stuff. We don't want to take that optionality away from them."
When the Spagni CNBC video was recently linked to the Monero subreddit, it was met with lengthy debate and discussion from both users and developers. u/ferretinjapan summarised the issue explaining:
"Monero has all the mechanisms it needs to find the balance between transaction load, and offsetting the costs of miner infrastructure/profits, while making sure the network is useful for users. But like the interviewer said, the question is directed at "right now", and Fluffys right to a certain extent, Monero's transactions are huge, and compromises in blockchain security will help facilitate less burdensome transactional activity in the future. But to compare Monero to Bitcoin's transaction sizes is somewhat silly as Bitcoin is nowhere near as useful as monero, and utility will facilitate infrastructure building that may eventually utterly dwarf Bitcoin. And to equate scaling based on a node being run on a desktop being the only option for what classifies as "scalable" is also an incredibly narrow interpretation of the network being able to scale, or not. Given the extremely narrow definition of scaling people love to (incorrectly) use, I consider that a pretty crap question to put to Fluffy in the first place, but... ¯_(ツ)_/¯"
u/xmrusher also contributed to the discussion, comparing Bitcoin to Monero using this analogous description:
"While John is much heavier than Henry, he's still able to run faster, because, unlike Henry, he didn't chop off his own legs just so the local wheelchair manufacturer can make money. While Morono has much larger transactions then Bitcoin, it still scales better, because, unlike Bitcoin, it hasn't limited itself to a cripplingly tiny blocksize just to allow Blockstream to make money."
Setting up a wallet can still be time consuming
It's time consuming and can be somewhat difficult for new cryptocurrency users to set up their own wallet using the GUI wallet or the Command Line Wallet. In order to strengthen and further decentralize the Monero network, users are encouraged to run a full node for their wallet, however this can be an issue because it can take up to 24-48 hours for some users depending on their hard-drive and internet speeds. To mitigate this issue, users can run a remote node, meaning they can remotely connect their wallet to another node in order to perform transactions, and in the meantime continue to sync the daemon so in the future they can then use their own node.
For users that do run into wallet setup issues, or any other problems for that matter, there is an extremely helpful troubleshooting thread on the Monero subreddit which can be found here. And not only that, unlike some other cryptocurrency subreddits, if you ask a question, there is always a friendly community member who will happily assist you. Monero.how is a fantastic resource too!
Despite still being difficult to use, the user-base and price may increase dramatically once it is easier to use. In addition, others believe that when hardware wallets are available more users will shift to Monero.

///Conclusion///

I actually still feel a little shameful for promoting Monero here, but feel a sense of duty to do so.
Monero is transitioning into an unstoppable altruistic beast. This year offers the implementation of many great developments, accompanied by the likelihood of a dramatic increase in price.
I request you discuss this post, point out any errors I have made, or any information I may have neglected to include. Also, if you believe in the Monero project, I encourage you to join your local Facebook or Reddit cryptocurrency group and spread the word of Monero. You could even link this post there to bring awareness to new cryptocurrency users and investors.
I will leave you with an old on-going joke within the Monero community - Don't buy Monero - unless you have a use case for it of course :-) Just think to yourself though - Do I have a use case for Monero in our unpredictable Huxleyan society? Hint: The answer is ?
Edit: Added in the Tail Emission section, and noted Dan Bilzerian as a Monero investor. Also added information regarding the XMR.TO payment service. Added info about hardfork
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Understanding Blockchain and Privacy Part I: Pseudo-anonymous Assets and What They Reveal

Understanding Blockchain and Privacy Part I: Pseudo-anonymous Assets and What They Reveal
Much like it is with fiat funds, there are those who are honest with their income and expenses and there are those who attempt to conceal some of their incoming and outgoing transactions for one reason or another. Although we’ve reached a point in the industry where the majority of crypto users understand that digital assets don’t provide the full privacy that those in the latter category above wish for.
We could stop here, but the “why” behind how governments are able to track our transactions and tie them to us is intriguing and serves as a very important lesson as to why it’s never a smart idea to try to hide your money in cryptocurrency.
With that in mind, let’s dive into the first part of this two-part series, starting with pseudo-anonymous cryptocurrencies like Bitcoin.
https://preview.redd.it/e4ivv49ajpe41.jpg?width=4000&format=pjpg&auto=webp&s=e427e316296320dfa3223d166c6060c89a8d03c2

A Brief Overview of Blockchain

If you’re mostly involved in the investing and trading sides of the industry, you may not necessarily know as much about why assets like Bitcoin function the way they do, which necessitates a quick overview to help you better understand the information below.
Put simply, blockchain technology is a way of managing information in a decentralized manner in order to ensure trust and transparency. For example, when a Bitcoin transaction takes place, the blockchain takes note of all of the information involved in the transaction (wallet addresses from the sender and the recipient, amount sent, time and date sent), verifies this information, stores the information in a “block”, and uploads it to the public online ledger where it is recorded and available for all users of the network.
The reason why this is so important for enthusiasts is that it gives them full control over their money while allowing them to conceal personal information that would normally be revealed in traditional financial transactions. However, it is this sense of safety that has led many to believe that they can hide away Bitcoin without ever being discovered.

Why Crypto Isn’t Anonymous (and How It Is Tracked)

While crypto transactions aren’t tied to your name, physical address, or personal contact information, the fact that they are tied to your wallet address is enough information for organizations to track down most people.
For example, let’s imagine that you have been receiving crypto as a form of side-income and have attempted to hide this extra income from the IRS. While you do have your assets stowed away in a separate wallet (theoretically), you are inevitably going to have to sell off your assets on some platform. Once you do sell, someone can then see where these assets have been transferred from, which will inevitably allow them to take note of exactly how much income has been coming in as each transaction has a traceable source.
Additionally, because of KYC/AML laws, you are going to be hard-pressed to find an exchange where you can transfer your crypto without having to register using some form of personal information that can be tied to you or tied to the original sender and traced down to you. Even Bitcoin mixers are not reliable ways to hide your crypto as they have been advertised to be in the past.
True, while there are always ways to work around these systems, those who are attempting to do so will experience severe difficulty trying to make sure that payments are untraceable, something that is considerably hard in this day and age.
Overall, no matter how simple it may seem to stow away crypto and avoid being detected, it is not the private currency that it is sometimes made out to be. In section two of this series, we will be analyzing some of the privacy coins on the market and showing how these too can be subject to tracking by larger entities.
***
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Searching for the Unicorn Cryptocurrency

Searching for the Unicorn Cryptocurrency
For someone first starting out as a cryptocurrency investor, finding a trustworthy manual for screening a cryptocurrency’s merits is nonexistent as we are still in the early, Wild West days of the cryptocurrency market. One would need to become deeply familiar with the inner workings of blockchain to be able to perform the bare minimum due diligence.
One might believe, over time, that finding the perfect cryptocurrency may be nothing short of futile. If a cryptocurrency purports infinite scalability, then it is probably either lightweight with limited features or it is highly centralized among a limited number of nodes that perform consensus services especially Proof of Stake or Delegated Proof of Stake. Similarly, a cryptocurrency that purports comprehensive privacy may have technical obstacles to overcome if it aims to expand its applications such as in smart contracts. The bottom line is that it is extremely difficult for a cryptocurrency to have all important features jam-packed into itself.
The cryptocurrency space is stuck in the era of the “dial-up internet” in a manner of speaking. Currently blockchain can’t scale – not without certain tradeoffs – and it hasn’t fully resolved certain intractable issues such as user-unfriendly long addresses and how the blockchain size is forever increasing to name two.
In other words, we haven’t found the ultimate cryptocurrency. That is, we haven’t found the mystical unicorn cryptocurrency that ushers the era of decentralization while eschewing all the limitations of traditional blockchain systems.
“But wait – what about Ethereum once it implements sharding?”
“Wouldn’t IOTA be able to scale infinitely with smart contracts through its Qubic offering?”
“Isn’t Dash capable of having privacy, smart contracts, and instantaneous transactions?”
Those thoughts and comments may come from cryptocurrency investors who have done their research. It is natural for the informed investors to invest in projects that are believed to bring cutting edge technological transformation to blockchain. Sooner or later, the sinking realization will hit that any variation of the current blockchain technology will always likely have certain limitations.
Let us pretend that there indeed exists a unicorn cryptocurrency somewhere that may or may not be here yet. What would it look like, exactly? Let us set the 5 criteria of the unicorn cryptocurrency:
Unicorn Criteria
(1) Perfectly solves the blockchain trilemma:
o Infinite scalability
o Full security
o Full decentralization
(2) Zero or minimal transaction fee
(3) Full privacy
(4) Full smart contract capabilities
(5) Fair distribution and fair governance
For each of the above 5 criteria, there would not be any middle ground. For example, a cryptocurrency with just an in-protocol mixer would not be considered as having full privacy. As another example, an Initial Coin Offering (ICO) may possibly violate criterion (5) since with an ICO the distribution and governance are often heavily favored towards an oligarchy – this in turn would defy the spirit of decentralization that Bitcoin was found on.
There is no cryptocurrency currently that fits the above profile of the unicorn cryptocurrency. Let us examine an arbitrary list of highly hyped cryptocurrencies that meet the above list at least partially. The following list is by no means comprehensive but may be a sufficient sampling of various blockchain implementations:
Bitcoin (BTC)
Bitcoin is the very first and the best known cryptocurrency that started it all. While Bitcoin is generally considered extremely secure, it suffers from mining centralization to a degree. Bitcoin is not anonymous, lacks smart contracts, and most worrisomely, can only do about 7 transactions per seconds (TPS). Bitcoin is not the unicorn notwithstanding all the Bitcoin maximalists.
Ethereum (ETH)
Ethereum is widely considered the gold standard of smart contracts aside from its scalability problem. Sharding as part of Casper’s release is generally considered to be the solution to Ethereum’s scalability problem.
The goal of sharding is to split up validating responsibilities among various groups or shards. Ethereum’s sharding comes down to duplicating the existing blockchain architecture and sharing a token. This does not solve the core issue and simply kicks the can further down the road. After all, full nodes still need to exist one way or another.
Ethereum’s blockchain size problem is also an issue as will be explained more later in this article.
As a result, Ethereum is not the unicorn due to its incomplete approach to scalability and, to a degree, security.
Dash
Dash’s masternodes are widely considered to be centralized due to their high funding requirements, and there are accounts of a pre-mine in the beginning. Dash is not the unicorn due to its questionable decentralization.
Nano
Nano boasts rightfully for its instant, free transactions. But it lacks smart contracts and privacy, and it may be exposed to well orchestrated DDOS attacks. Therefore, it goes without saying that Nano is not the unicorn.
EOS
While EOS claims to execute millions of transactions per seconds, a quick glance reveals centralized parameters with 21 nodes and a questionable governance system. Therefore, EOS fails to achieve the unicorn status.
Monero (XMR)
One of the best known and respected privacy coins, Monero lacks smart contracts and may fall short of infinite scalability due to CryptoNote’s design. The unicorn rank is out of Monero’s reach.
IOTA
IOTA’s scalability is based on the number of transactions the network processes, and so its supposedly infinite scalability would fluctuate and is subject to the whims of the underlying transactions. While IOTA’s scalability approach is innovative and may work in the long term, it should be reminded that the unicorn cryptocurrency has no middle ground. The unicorn cryptocurrency would be expected to scale infinitely on a consistent basis from the beginning.
In addition, IOTA’s Masked Authenticated Messaging (MAM) feature does not bring privacy to the masses in a highly convenient manner. Consequently, the unicorn is not found with IOTA.

PascalCoin as a Candidate for the Unicorn Cryptocurrency
Please allow me to present a candidate for the cryptocurrency unicorn: PascalCoin.
According to the website, PascalCoin claims the following:
“PascalCoin is an instant, zero-fee, infinitely scalable, and decentralized cryptocurrency with advanced privacy and smart contract capabilities. Enabled by the SafeBox technology to become the world’s first blockchain independent of historical operations, PascalCoin possesses unlimited potential.”
The above summary is a mouthful to be sure, but let’s take a deep dive on how PascalCoin innovates with the SafeBox and more. Before we do this, I encourage you to first become acquainted with PascalCoin by watching the following video introduction:
https://www.youtube.com/watch?time_continue=4&v=F25UU-0W9Dk
The rest of this section will be split into 10 parts in order to illustrate most of the notable features of PascalCoin. Naturally, let’s start off with the SafeBox.
Part #1: The SafeBox
Unlike traditional UTXO-based cryptocurrencies in which the blockchain records the specifics of each transaction (address, sender address, amount of funds transferred, etc.), the blockchain in PascalCoin is only used to mutate the SafeBox. The SafeBox is a separate but equivalent cryptographic data structure that snapshots account balances. PascalCoin’s blockchain is comparable to a machine that feeds the most important data – namely, the state of an account – into the SafeBox. Any node can still independently compute and verify the cumulative Proof-of-Work required to construct the SafeBox.
The PascalCoin whitepaper elegantly highlights the unique historical independence that the SafeBox possesses:
“While there are approaches that cryptocurrencies could use such as pruning, warp-sync, "finality checkpoints", UTXO-snapshotting, etc, there is a fundamental difference with PascalCoin. Their new nodes can only prove they are on most-work-chain using the infinite history whereas in PascalCoin, new nodes can prove they are on the most-work chain without the infinite history.”
Some cryptocurrency old-timers might instinctively balk at the idea of full nodes eschewing the entire history for security, but such a reaction would showcase a lack of understanding on what the SafeBox really does.
A concrete example would go a long way to best illustrate what the SafeBox does. Let’s say I input the following operations in my calculator:
5 * 5 – 10 / 2 + 5
It does not take a genius to calculate the answer, 25. Now, the expression “5 \ 5 – 10 / 2 + 5”* would be forever imbued on a traditional blockchain’s history. But the SafeBox begs to differ. It says that the expression “5 \ 5 – 10 / 2 + 5”* should instead be simply “25” so as preserve simplicity, time, and space. In other words, the SafeBox simply preserves the account balance.
But some might still be unsatisfied and claim that if one cannot trace the series of operations (transactions) that lead to the final number (balance) of 25, the blockchain is inherently insecure.
Here are four important security aspects of the SafeBox that some people fail to realize:
(1) SafeBox Follows the Longest Chain of Proof-of-Work
The SafeBox mutates itself per 100 blocks. Each new SafeBox mutation must reference both to the previous SafeBox mutation and the preceding 100 blocks in order to be valid, and the resultant hash of the new mutated SafeBox must then be referenced by each of the new subsequent blocks, and the process repeats itself forever.
The fact that each new SafeBox mutation must reference to the previous SafeBox mutation is comparable to relying on the entire history. This is because the previous SafeBox mutation encapsulates the result of cumulative entire history except for the 100 blocks which is why each new SafeBox mutation requires both the previous SafeBox mutation and the preceding 100 blocks.
So in a sense, there is a single interconnected chain of inflows and outflows, supported by Byzantine Proof-of-Work consensus, instead of the entire history of transactions.
More concretely, the SafeBox follows the path of the longest chain of Proof-of-Work simply by design, and is thus cryptographically equivalent to the entire history even without tracing specific operations in the past. If the chain is rolled back with a 51% attack, only the attacker’s own account(s) in the SafeBox can be manipulated as is explained in the next part.
(2) A 51% Attack on PascalCoin Functions the Same as Others
A 51% attack on PascalCoin would work in a similar way as with other Proof-of-Work cryptocurrencies. An attacker cannot modify a transaction in the past without affecting the current SafeBox hash which is accepted by all honest nodes.
Someone might claim that if you roll back all the current blocks plus the 100 blocks prior to the SafeBox’s mutation, one could create a forged SafeBox with different balances for all accounts. This would be incorrect as one would be able to manipulate only his or her own account(s) in the SafeBox with a 51% attack – just as is the case with other UTXO cryptocurrencies. The SafeBox stores the balances of all accounts which are in turn irreversibly linked only to their respective owners’ private keys.
(3) One Could Preserve the Entire History of the PascalCoin Blockchain
No blockchain data in PascalCoin is ever deleted even in the presence of the SafeBox. Since the SafeBox is cryptographically equivalent to a full node with the entire history as explained above, PascalCoin full nodes are not expected to contain infinite history. But for whatever reason(s) one may have, one could still keep all the PascalCoin blockchain history as well along with the SafeBox as an option even though it would be redundant.
Without storing the entire history of the PascalCoin blockchain, you can still trace the specific operations of the 100 blocks prior to when the SafeBox absorbs and reflects the net result (a single balance for each account) from those 100 blocks. But if you’re interested in tracing operations over a longer period in the past – as redundant as that may be – you’d have the option to do so by storing the entire history of the PascalCoin blockchain.
(4) The SafeBox is Equivalent to the Entire Blockchain History
Some skeptics may ask this question: “What if the SafeBox is forever lost? How would you be able to verify your accounts?” Asking this question is tantamount to asking to what would happen to Bitcoin if all of its entire history was erased. The result would be chaos, of course, but the SafeBox is still in line with the general security model of a traditional blockchain with respect to black swans.
Now that we know the security of the SafeBox is not compromised, what are the implications of this new blockchain paradigm? A colorful illustration as follows still wouldn’t do justice to the subtle revolution that the SafeBox ushers. The automobiles we see on the street are the cookie-and-butter representation of traditional blockchain systems. The SafeBox, on the other hand, supercharges those traditional cars to become the Transformers from Michael Bay’s films.
The SafeBox is an entirely different blockchain architecture that is impressive in its simplicity and ingenuity. The SafeBox’s design is only the opening act for PascalCoin’s vast nuclear arsenal. If the above was all that PascalCoin offers, it still wouldn’t come close to achieving the unicorn status but luckily, we have just scratched the surface. Please keep on reading on if you want to learn how PascalCoin is going to shatter the cryptocurrency industry into pieces. Buckle down as this is going to be a long read as we explore further about the SafeBox’s implications.
Part #2: 0-Confirmation Transactions
To begin, 0-confirmation transactions are secure in PascalCoin thanks to the SafeBox.
The following paraphrases an explanation of PascalCoin’s 0-confirmations from the whitepaper:
“Since PascalCoin is not a UTXO-based currency but rather a State-based currency thanks to the SafeBox, the security guarantee of 0-confirmation transactions are much stronger than in UTXO-based currencies. For example, in Bitcoin if a merchant accepts a 0-confirmation transaction for a coffee, the buyer can simply roll that transaction back after receiving the coffee but before the transaction is confirmed in a block. The way the buyer does this is by re-spending those UTXOs to himself in a new transaction (with a higher fee) thus invalidating them for the merchant. In PascalCoin, this is virtually impossible since the buyer's transaction to the merchant is simply a delta-operation to debit/credit a quantity from/to accounts respectively. The buyer is unable to erase or pre-empt this two-sided, debit/credit-based transaction from the network’s pending pool until it either enters a block for confirmation or is discarded with respect to both sender and receiver ends. If the buyer tries to double-spend the coffee funds after receiving the coffee but before they clear, the double-spend transaction will not propagate the network since nodes cannot propagate a double-spending transaction thanks to the debit/credit nature of the transaction. A UTXO-based transaction is initially one-sided before confirmation and therefore is more exposed to one-sided malicious schemes of double spending.”
Phew, that explanation was technical but it had to be done. In summary, PascalCoin possesses the only secure 0-confirmation transactions in the cryptocurrency industry, and it goes without saying that this means PascalCoin is extremely fast. In fact, PascalCoin is capable of 72,000 TPS even prior to any additional extensive optimizations down the road. In other words, PascalCoin is as instant as it gets and gives Nano a run for its money.
Part #3: Zero Fee
Let’s circle back to our discussion of PascalCoin’s 0-confirmation capability. Here’s a little fun magical twist to PascalCoin’s 0-confirmation magic: 0-confirmation transactions are zero-fee. As in you don’t pay a single cent in fee for each 0-confirmation! There is just a tiny downside: if you create a second transaction in a 5-minute block window then you’d need to pay a minimal fee. Imagine using Nano but with a significantly stronger anti-DDOS protection for spam! But there shouldn’t be any complaint as this fee would amount to 0.0001 Pascal or $0.00002 based on the current price of a Pascal at the time of this writing.
So, how come the fee for blazingly fast transactions is nonexistent? This is where the magic of the SafeBox arises in three ways:
(1) PascalCoin possesses the secure 0-confirmation feature as discussed above that enables this speed.
(2) There is no fee bidding competition of transaction priority typical in UTXO cryptocurrencies since, once again, PascalCoin operates on secure 0-confirmations.
(3) There is no fee incentive needed to run full nodes on behalf of the network’s security beyond the consensus rewards.
Part #4: Blockchain Size
Let’s expand more on the third point above, using Ethereum as an example. Since Ethereum’s launch in 2015, its full blockchain size is currently around 2 TB, give or take, but let’s just say its blockchain size is 100 GB for now to avoid offending the Ethereum elitists who insist there are different types of full nodes that are lighter. Whoever runs Ethereum’s full nodes would expect storage fees on top of the typical consensus fees as it takes significant resources to shoulder Ethereum’s full blockchain size and in turn secure the network. What if I told you that PascalCoin’s full blockchain size will never exceed few GBs after thousands of years? That is just what the SafeBox enables PascalCoin to do so. It is estimated that by 2072, PascalCoin’s full nodes will only be 6 GB which is low enough not to warrant any fee incentives for hosting full nodes. Remember, the SafeBox is an ultra-light cryptographic data structure that is cryptographically equivalent to a blockchain with the entire transaction history. In other words, the SafeBox is a compact spreadsheet of all account balances that functions as PascalCoin’s full node!
Not only does the SafeBox’s infinitesimal memory size helps to reduce transaction fees by phasing out any storage fees, but it also paves the way for true decentralization. It would be trivial for every PascalCoin user to opt a full node in the form of a wallet. This is extreme decentralization at its finest since the majority of users of other cryptocurrencies ditch full nodes due to their burdensome sizes. It is naïve to believe that storage costs would reduce enough to the point where hosting full nodes are trivial. Take a look at the following chart outlining the trend of storage cost.

* https://www.backblaze.com/blog/hard-drive-cost-per-gigabyte/
As we can see, storage costs continue to decrease but the descent is slowing down as is the norm with technological improvements. In the meantime, blockchain sizes of other cryptocurrencies are increasing linearly or, in the case of smart contract engines like Ethereum, parabolically. Imagine a cryptocurrency smart contract engine like Ethereum garnering worldwide adoption; how do you think Ethereum’s size would look like in the far future based on the following chart?


https://i.redd.it/k57nimdjmo621.png

Ethereum’s future blockchain size is not looking pretty in terms of sustainable security. Sharding is not a fix for this issue since there still needs to be full nodes but that is a different topic for another time.
It is astonishing that the cryptocurrency community as a whole has passively accepted this forever-expanding-blockchain-size problem as an inescapable fate.
PascalCoin is the only cryptocurrency that has fully escaped the death vortex of forever expanding blockchain size. Its blockchain size wouldn’t exceed 10 GB even after many hundreds of years of worldwide adoption. Ethereum’s blockchain size after hundreds of years of worldwide adoption would make fine comedy.
Part #5: Simple, Short, and Ordinal Addresses
Remember how the SafeBox works by snapshotting all account balances? As it turns out, the account address system is almost as cool as the SafeBox itself.
Imagine yourself in this situation: on a very hot and sunny day, you’re wandering down the street across from your house and ran into a lemonade stand – the old-fashioned kind without any QR code or credit card terminal. The kid across you is selling a lemonade cup for 1 Pascal with a poster outlining the payment address as 5471-55. You flip out your phone and click “Send” with 1 Pascal to the address 5471-55; viola, exactly one second later you’re drinking your lemonade without paying a cent for the transaction fee!
The last thing one wants to do is to figure out how to copy/paste to, say, the following address 1BoatSLRHtKNngkdXEeobR76b53LETtpyT on the spot wouldn’t it? Gone are the obnoxiously long addresses that plague all cryptocurrencies. The days of those unreadable addresses will be long gone – it has to be if blockchain is to innovate itself for the general public. EOS has a similar feature for readable addresses but in a very limited manner in comparison, and nicknames attached to addresses in GUIs don’t count since blockchain-wide compatibility wouldn’t hold.
Not only does PascalCoin has the neat feature of having addresses (called PASAs) that amount to up to 6 or 7 digits, but PascalCoin can also incorporate in-protocol address naming as opposed to GUI address nicknames. Suppose I want to order something from Amazon using Pascal; I simply search the word “Amazon” then the corresponding account number shows up. Pretty neat, right?
The astute reader may gather that PascalCoin’s address system makes it necessary to commoditize addresses, and he/she would be correct. Some view this as a weakness; part #10 later in this segment addresses this incorrect perception.
Part #6: Privacy
As if the above wasn’t enough, here’s another secret that PascalCoin has: it is a full-blown privacy coin. It uses two separate foundations to achieve comprehensive anonymity: in-protocol mixer for transfer amounts and zn-SNARKs for private balances. The former has been implemented and the latter is on the roadmap. Both the 0-confirmation transaction and the negligible transaction fee would make PascalCoin the most scalable privacy coin of any other cryptocurrencies pending the zk-SNARKs implementation.
Part #7: Smart Contracts
Next, PascalCoin will take smart contracts to the next level with a layer-2 overlay consensus system that pioneers sidechains and other smart contract implementations.
In formal terms, this layer-2 architecture will facilitate the transfer of data between PASAs which in turn allows clean enveloping of layer-2 protocols inside layer-1 much in the same way that HTTP lives inside TCP.
To summarize:
· The layer-2 consensus method is separate from the layer-1 Proof-of-Work. This layer-2 consensus method is independent and flexible. A sidechain – based on a single encompassing PASA – could apply Proof-of-Stake (POS), Delegated Proof-of-Stake (DPOS), or Directed Acyclic Graph (DAG) as the consensus system of its choice.
· Such a layer-2 smart contract platform can be written in any languages.
· Layer-2 sidechains will also provide very strong anonymity since funds are all pooled and keys are not used to unlock them.
· This layer-2 architecture is ingenious in which the computation is separate from layer-2 consensus, in effect removing any bottleneck.
· Horizontal scaling exists in this paradigm as there is no interdependence between smart contracts and states are not managed by slow sidechains.
· Speed and scalability are fully independent of PascalCoin.
One would be able to run the entire global financial system on PascalCoin’s infinitely scalable smart contract platform and it would still scale infinitely. In fact, this layer-2 architecture would be exponentially faster than Ethereum even after its sharding is implemented.
All this is the main focus of PascalCoin’s upcoming version 5 in 2019. A whitepaper add-on for this major upgrade will be released in early 2019.
Part #8: RandomHash Algorithm
Surely there must be some tradeoffs to PascalCoin’s impressive capabilities, you might be asking yourself. One might bring up the fact that PascalCoin’s layer-1 is based on Proof-of-Work and is thus susceptible to mining centralization. This would be a fallacy as PascalCoin has pioneered the very first true ASIC, GPU, and dual-mining resistant algorithm known as RandomHash that obliterates anything that is not CPU based and gives all the power back to solo miners.
Here is the official description of RandomHash:
“RandomHash is a high-level cryptographic hash algorithm that combines other well-known hash primitives in a highly serial manner. The distinguishing feature is that calculations for a nonce are dependent on partial calculations of other nonces, selected at random. This allows a serial hasher (CPU) to re-use these partial calculations in subsequent mining saving 50% or more of the work-load. Parallel hashers (GPU) cannot benefit from this optimization since the optimal nonce-set cannot be pre-calculated as it is determined on-the-fly. As a result, parallel hashers (GPU) are required to perform the full workload for every nonce. Also, the algorithm results in 10x memory bloat for a parallel implementation. In addition to its serial nature, it is branch-heavy and recursive making in optimal for CPU-only mining.”
One might be understandably skeptical of any Proof-of-Work algorithm that solves ASIC and GPU centralization once for all because there have been countless proposals being thrown around for various algorithms since the dawn of Bitcoin. Is RandomHash truly the ASIC & GPU killer that it claims to be?
Herman Schoenfeld, the inventor behind RandomHash, described his algorithm in the following:
“RandomHash offers endless ASIC-design breaking surface due to its use of recursion, hash algo selection, memory hardness and random number generation.
For example, changing how round hash selection is made and/or random number generator algo and/or checksum algo and/or their sequencing will totally break an ASIC design. Conceptually if you can significantly change the structure of the output assembly whilst keeping the high-level algorithm as invariant as possible, the ASIC design will necessarily require proportional restructuring. This results from the fact that ASIC designs mirror the ASM of the algorithm rather than the algorithm itself.”
Polyminer1 (pseudonym), one of the members of the PascalCoin core team who developed RHMiner (official software for mining RandomHash), claimed as follows:
“The design of RandomHash is, to my experience, a genuine innovation. I’ve been 30 years in the field. I’ve rarely been surprised by anything. RandomHash was one of my rare surprises. It’s elegant, simple, and achieves resistance in all fronts.”
PascalCoin may have been the first party to achieve the race of what could possibly be described as the “God algorithm” for Proof-of-Work cryptocurrencies. Look no further than one of Monero’s core developers since 2015, Howard Chu. In September 2018, Howard declared that he has found a solution, called RandomJS, to permanently keep ASICs off the network without repetitive algorithm changes. This solution actually closely mirrors RandomHash’s algorithm. Discussing about his algorithm, Howard asserted that “RandomJS is coming at the problem from a direction that nobody else is.”
Link to Howard Chu’s article on RandomJS:
https://www.coindesk.com/one-musicians-creative-solution-to-drive-asics-off-monero
Yet when Herman was asked about Howard’s approach, he responded:
“Yes, looks like it may work although using Javascript was a bit much. They should’ve just used an assembly subset and generated random ASM programs. In a way, RandomHash does this with its repeated use of random mem-transforms during expansion phase.”
In the end, PascalCoin may have successfully implemented the most revolutionary Proof-of-Work algorithm, one that eclipses Howard’s burgeoning vision, to date that almost nobody knows about. To learn more about RandomHash, refer to the following resources:
RandomHash whitepaper:
https://www.pascalcoin.org/storage/whitepapers/RandomHash_Whitepaper.pdf
Technical proposal for RandomHash:
https://github.com/PascalCoin/PascalCoin/blob/mastePIP/PIP-0009.md
Someone might claim that PascalCoin still suffers from mining centralization after RandomHash, and this is somewhat misleading as will be explained in part #10.
Part #9: Fair Distribution and Governance
Not only does PascalCoin rest on superior technology, but it also has its roots in the correct philosophy of decentralized distribution and governance. There was no ICO or pre-mine, and the developer fund exists as a percentage of mining rewards as voted by the community. This developer fund is 100% governed by a decentralized autonomous organization – currently facilitated by the PascalCoin Foundation – that will eventually be transformed into an autonomous smart contract platform. Not only is the developer fund voted upon by the community, but PascalCoin’s development roadmap is also voted upon the community via the Protocol Improvement Proposals (PIPs).
This decentralized governance also serves an important benefit as a powerful deterrent to unseemly fork wars that befall many cryptocurrencies.
Part #10: Common Misconceptions of PascalCoin
“The branding is terrible”
PascalCoin is currently working very hard on its image and is preparing for several branding and marketing initiatives in the short term. For example, two of the core developers of the PascalCoin recently interviewed with the Fox Business Network. A YouTube replay of this interview will be heavily promoted.
Some people object to the name PascalCoin. First, it’s worth noting that PascalCoin is the name of the project while Pascal is the name of the underlying currency. Secondly, Google and YouTube received excessive criticisms back then in the beginning with their name choices. Look at where those companies are nowadays – surely a somewhat similar situation faces PascalCoin until the name’s familiarity percolates into the public.
“The wallet GUI is terrible”
As the team is run by a small yet extremely dedicated developers, multiple priorities can be challenging to juggle. The lack of funding through an ICO or a pre-mine also makes it challenging to accelerate development. The top priority of the core developers is to continue developing full-time on the groundbreaking technology that PascalCoin offers. In the meantime, an updated and user-friendly wallet GUI has been worked upon for some time and will be released in due time. Rome wasn’t built in one day.
“One would need to purchase a PASA in the first place”
This is a complicated topic since PASAs need to be commoditized by the SafeBox’s design, meaning that PASAs cannot be obtained at no charge to prevent systematic abuse. This raises two seemingly valid concerns:
· As a chicken and egg problem, how would one purchase a PASA using Pascal in the first place if one cannot obtain Pascal without a PASA?
· How would the price of PASAs stay low and affordable in the face of significant demand?
With regards to the chicken and egg problem, there are many ways – some finished and some unfinished – to obtain your first PASA as explained on the “Get Started” page on the PascalCoin website:
https://www.pascalcoin.org/get_started
More importantly, however, is the fact that there are few methods that can get your first PASA for free. The team will also release another method soon in which you could obtain your first PASA for free via a single SMS message. This would probably become by far the simplest and the easiest way to obtain your first PASA for free. There will be more new ways to easily obtain your first PASA for free down the road.
What about ensuring the PASA market at large remains inexpensive and affordable following your first (and probably free) PASA acquisition? This would be achieved in two ways:
· Decentralized governance of the PASA economics per the explanation in the FAQ section on the bottom of the PascalCoin website (https://www.pascalcoin.org/)
· Unlimited and free pseudo-PASAs based on layer-2 in the next version release.
“PascalCoin is still centralized after the release of RandomHash”
Did the implementation of RandomHash from version 4 live up to its promise?
The official goals of RandomHash were as follow:
(1) Implement a GPU & ASIC resistant hash algorithm
(2) Eliminate dual mining
The two goals above were achieved by every possible measure.
Yet a mining pool, Nanopool, was able to regain its hash majority after a significant but a temporary dip.
The official conclusion is that, from a probabilistic viewpoint, solo miners are more profitable than pool miners. However, pool mining is enticing for solo miners who 1) have limited hardware as it ensures a steady income instead of highly profitable but probabilistic income via solo mining, and 2) who prefer convenient software and/or GUI.
What is the next step, then? While the barrier of entry for solo miners has successfully been put down, additional work needs to be done. The PascalCoin team and the community are earnestly investigating additional steps to improve mining decentralization with respect to pool mining specifically to add on top of RandomHash’s successful elimination of GPU, ASIC, and dual-mining dominance.
It is likely that the PascalCoin community will promote the following two initiatives in the near future:
(1) Establish a community-driven, nonprofit mining pool with attractive incentives.
(2) Optimize RHMiner, PascalCoin’s official solo mining software, for performance upgrades.
A single pool dominance is likely short lived once more options emerge for individual CPU miners who want to avoid solo mining for whatever reason(s).
Let us use Bitcoin as an example. Bitcoin mining is dominated by ASICs and mining pools but no single pool is – at the time of this writing – even close on obtaining the hash majority. With CPU solo mining being a feasible option in conjunction with ASIC and GPU mining eradication with RandomHash, the future hash rate distribution of PascalCoin would be far more promising than Bitcoin’s hash rate distribution.
PascalCoin is the Unicorn Cryptocurrency
If you’ve read this far, let’s cut straight to the point: PascalCoin IS the unicorn cryptocurrency.
It is worth noting that PascalCoin is still a young cryptocurrency as it was launched at the end of 2016. This means that many features are still work in progress such as zn-SNARKs, smart contracts, and pool decentralization to name few. However, it appears that all of the unicorn criteria are within PascalCoin’s reach once PascalCoin’s technical roadmap is mostly completed.
Based on this expository on PascalCoin’s technology, there is every reason to believe that PascalCoin is the unicorn cryptocurrency. PascalCoin also solves two fundamental blockchain problems beyond the unicorn criteria that were previously considered unsolvable: blockchain size and simple address system. The SafeBox pushes PascalCoin to the forefront of cryptocurrency zeitgeist since it is a superior solution compared to UTXO, Directed Acyclic Graph (DAG), Block Lattice, Tangle, and any other blockchain innovations.


THE UNICORN

Author: Tyler Swob
submitted by Kosass to CryptoCurrency [link] [comments]

Institutional Investors Will Destroy Bitcoin, We Do Not Need Them To Succeed

http://genesisblocknews.com/institutional-investors-will-destroy-the-bitcoin-market-we-do-not-need-them-to-succeed/
When Satoshi Nakamoto created Bitcoin he envisioned decentralized money. Bitcoin is designed to be secure and pseudo-anonymous cash that can be sent anywhere in the world to buy anything instantly. Bitcoin’s success from 2009-2015 mostly stemmed from people using Bitcoin as decentralized money, and the crypto space was much healthier. If institutional investors arrive and buy tremendous amounts of Bitcoin, the impacts on Bitcoin could be catastrophic. We may be left with nothing more than another form of centralized money.
Currently crypto companies are bending over backwards to attract institutional investors with hedge funds, custodian services, and regulatory compliance. Crypto exchanges and companies have removed Bitcoin’s anonymity in the process, and have turned it into a centralized form of money for their customers. The situations on Coinbase where Bitcoins are getting frozen is just a microcosm of what is to come if the wealthy establishment takes over the crypto space.
Most of the crypto space is excited about the launch of physical Bitcoin futures on Bakkt in December 2018, it is thought that Bitcoin will rally since this will provide a mechanism for institutional investors to directly buy Bitcoin on major stock trading platforms. This is because these futures are physical and will be settled daily, so institutional investors who buy the Bakkt futures will receive Bitcoins in their account the same day.
Bitcoin’s price going up from institutional investment obviously has the positive benefit that HODLERS will get rich quickly. However, what about the people who have yet to buy Bitcoin, and people who cannot afford to buy much Bitcoin at this time? Bitcoin’s price will go up so high that people will not be able to afford more than a minuscule fraction of a Bitcoin, and this is basically already happening. Beyond this, people treating Bitcoin as an investment causes them to hoard the supply of Bitcoins, hurting Bitcoin’s usability as a currency.
Further, if most of the Bitcoin is purchased by institutional investors, it will centralize the crypto space into the hands of the same wealthy people that have turned the global financial system into the biggest scam of all time. If banks, financial institutions, and major corporations buy most of the Bitcoins, then they will have near total control of the Bitcoin market. They can then manipulate Bitcoin’s price to make money, at the expense of everyone trying to use Bitcoin as a currency.
It gets worse, imagine if banks and the government control almost all of the supply of Bitcoins, then they could disable withdrawals to external wallets. This would completely convert Bitcoin into centralized money, with only a few rogue decentralized Bitcoins left in the world. Robinhood is a company that already does this, external withdrawals are not allowed, and somehow people think this is fine and still use that platform.
In a similar vein, the centralization of the Bitcoin mining industry could be catastrophic. Personal mining at home is becoming obsolete at this time, and now Bitcoin mining is almost entirely done by big companies like Bitmain. As this progresses, they could eventually be coerced by the governments of the world to freeze addresses and reverse transactions, totally destroying Bitcoin’s decentralization.
The solution is clear, Bitcoiners need to stop feeding into the hype that institutional investment is a good thing. Many Bitcoiners are short sighted and think the short term profits from institutional investors would be amazing, without realizing that Bitcoin itself may be destroyed long term if institutional investors take over the space.
Currently the Bitcoin market cap is less than USD 100 billion, while tens of trillions of USD circulate in the global financial markets. Bitcoin is vulnerable to a hostile takeover, and we must protect it by scaring the institutional investors away.
submitted by turtlecane to Bitcoin [link] [comments]

A reminder why CryptoNote protocol was created...

CryptoNote v 2.0 Nicolas van Saberhagen October 17, 2013
1 Introduction
“Bitcoin” [1] has been a successful implementation of the concept of p2p electronic cash. Both professionals and the general public have come to appreciate the convenient combination of public transactions and proof-of-work as a trust model. Today, the user base of electronic cash is growing at a steady pace; customers are attracted to low fees and the anonymity provided by electronic cash and merchants value its predicted and decentralized emission. Bitcoin has effectively proved that electronic cash can be as simple as paper money and as convenient as credit cards.
Unfortunately, Bitcoin suffers from several deficiencies. For example, the system’s distributed nature is inflexible, preventing the implementation of new features until almost all of the net- work users update their clients. Some critical flaws that cannot be fixed rapidly deter Bitcoin’s widespread propagation. In such inflexible models, it is more efficient to roll-out a new project rather than perpetually fix the original project.
In this paper, we study and propose solutions to the main deficiencies of Bitcoin. We believe that a system taking into account the solutions we propose will lead to a healthy competition among different electronic cash systems. We also propose our own electronic cash, “CryptoNote”, a name emphasizing the next breakthrough in electronic cash.
2 Bitcoin drawbacks and some possible solutions
2.1 Traceability of transactions
Privacy and anonymity are the most important aspects of electronic cash. Peer-to-peer payments seek to be concealed from third party’s view, a distinct difference when compared with traditional banking. In particular, T. Okamoto and K. Ohta described six criteria of ideal electronic cash, which included “privacy: relationship between the user and his purchases must be untraceable by anyone” [30]. From their description, we derived two properties which a fully anonymous electronic cash model must satisfy in order to comply with the requirements outlined by Okamoto and Ohta:
Untraceability: for each incoming transaction all possible senders are equiprobable.
Unlinkability: for any two outgoing transactions it is impossible to prove they were sent to the same person.
Unfortunately, Bitcoin does not satisfy the untraceability requirement. Since all the trans- actions that take place between the network’s participants are public, any transaction can be unambiguously traced to a unique origin and final recipient. Even if two participants exchange funds in an indirect way, a properly engineered path-finding method will reveal the origin and final recipient.
It is also suspected that Bitcoin does not satisfy the second property. Some researchers stated ([33, 35, 29, 31]) that a careful blockchain analysis may reveal a connection between the users of the Bitcoin network and their transactions. Although a number of methods are disputed [25], it is suspected that a lot of hidden personal information can be extracted from the public database.
Bitcoin’s failure to satisfy the two properties outlined above leads us to conclude that it is not an anonymous but a pseudo-anonymous electronic cash system. Users were quick to develop solutions to circumvent this shortcoming. Two direct solutions were “laundering services” [2] and the development of distributed methods [3, 4]. Both solutions are based on the idea of mixing several public transactions and sending them through some intermediary address; which in turn suffers the drawback of requiring a trusted third party. Recently, a more creative scheme was proposed by I. Miers et al. [28]: “Zerocoin”. Zerocoin utilizes a cryptographic one-way accumulators and zero-knoweldge proofs which permit users to “convert” bitcoins to zerocoins and spend them using anonymous proof of ownership instead of explicit public-key based digital signatures. However, such knowledge proofs have a constant but inconvenient size - about 30kb (based on today’s Bitcoin limits), which makes the proposal impractical. Authors admit that the protocol is unlikely to ever be accepted by the majority of Bitcoin users [5].
2.2 The proof-of-work function
Bitcoin creator Satoshi Nakamoto described the majority decision making algorithm as “one- CPU-one-vote” and used a CPU-bound pricing function (double SHA-256) for his proof-of-work scheme. Since users vote for the single history of transactions order [1], the reasonableness and consistency of this process are critical conditions for the whole system.
The security of this model suffers from two drawbacks. First, it requires 51% of the network’s mining power to be under the control of honest users. Secondly, the system’s progress (bug fixes, security fixes, etc...) require the overwhelming majority of users to support and agree to the changes (this occurs when the users update their wallet software) [6].Finally this same voting mechanism is also used for collective polls about implementation of some features [7].
This permits us to conjecture the properties that must be satisfied by the proof-of-work pricing function. Such function must not enable a network participant to have a significant advantage over another participant; it requires a parity between common hardware and high cost of custom devices. From recent examples [8], we can see that the SHA-256 function used in the Bitcoin architecture does not posses this property as mining becomes more efficient on GPUs and ASIC devices when compared to high-end CPUs.
Therefore, Bitcoin creates favourable conditions for a large gap between the voting power of participants as it violates the “one-CPU-one-vote” principle since GPU and ASIC owners posses a much larger voting power when compared with CPU owners. It is a classical example of the Pareto principle where 20% of a system’s participants control more than 80% of the votes.
One could argue that such inequality is not relevant to the network’s security since it is not the small number of participants controlling the majority of the votes but the honesty of these participants that matters. However, such argument is somewhat flawed since it is rather the possibility of cheap specialized hardware appearing rather than the participants’ honesty which poses a threat. To demonstrate this, let us take the following example. Suppose a malevolent individual gains significant mining power by creating his own mining farm through the cheap hardware described previously. Suppose that the global hashrate decreases significantly, even for a moment, he can now use his mining power to fork the chain and double-spend. As we shall see later in this article, it is not unlikely for the previously described event to take place.
2.3 Irregular emission
Bitcoin has a predetermined emission rate: each solved block produces a fixed amount of coins. Approximately every four years this reward is halved. The original intention was to create a limited smooth emission with exponential decay, but in fact we have a piecewise linear emission function whose breakpoints may cause problems to the Bitcoin infrastructure.
When the breakpoint occurs, miners start to receive only half of the value of their previous reward. The absolute difference between 12.5 and 6.25 BTC (projected for the year 2020) may seem tolerable. However, when examining the 50 to 25 BTC drop that took place on November 28 2012, felt inappropriate for a significant number of members of the mining community. Figure 1 shows a dramatic decrease in the network’s hashrate in the end of November, exactly when the halving took place. This event could have been the perfect moment for the malevolent individual described in the proof-of-work function section to carry-out a double spending attack [36]. Fig. 1. Bitcoin hashrate chart (source: http://bitcoin.sipa.be)
2.4 Hardcoded constants
Bitcoin has many hard-coded limits, where some are natural elements of the original design (e.g. block frequency, maximum amount of money supply, number of confirmations) whereas other seem to be artificial constraints. It is not so much the limits, as the inability of quickly changing them if necessary that causes the main drawbacks. Unfortunately, it is hard to predict when the constants may need to be changed and replacing them may lead to terrible consequences.
A good example of a hardcoded limit change leading to disastrous consequences is the block size limit set to 250kb1. This limit was sufficient to hold about 10000 standard transactions. In early 2013, this limit had almost been reached and an agreement was reached to increase the limit. The change was implemented in wallet version 0.8 and ended with a 24-blocks chain split and a successful double-spend attack [9]. While the bug was not in the Bitcoin protocol, but rather in the database engine it could have been easily caught by a simple stress test if there was no artificially introduced block size limit.
Constants also act as a form of centralization point. Despite the peer-to-peer nature of Bitcoin, an overwhelming majority of nodes use the official reference client [10] developed by a small group of people. This group makes the decision to implement changes to the protocol and most people accept these changes irrespective of their “correctness”. Some decisions caused heated discussions and even calls for boycott [11], which indicates that the community and the developers may disagree on some important points. It therefore seems logical to have a protocol with user-configurable and self-adjusting variables as a possible way to avoid these problems.
2.5 Bulky scripts
The scripting system in Bitcoin is a heavy and complex feature. It potentially allows one to create sophisticated transactions [12], but some of its features are disabled due to security concerns and some have never even been used [13]. The script (including both senders’ and receivers’ parts) for the most popular transaction in Bitcoin looks like this: OP DUP OP HASH160 OP EQUALVERIFY OP CHECKSIG. The script is 164 bytes long whereas its only purpose is to check if the receiver possess the secret key required to verify his signature.
Read the rest of the white paper here: https://cryptonote.org/whitepaper.pdf
submitted by xmrhaelan to CryptoCurrency [link] [comments]

New Features for EDC Blockchain Transactions: Anonymous Transactions, Code-Package, and Red Envelope

New Features for EDC Blockchain Transactions: Anonymous Transactions, Code-Package, and Red Envelope
https://preview.redd.it/kklie7lskom31.png?width=1180&format=png&auto=webp&s=eee418398df12f4d214651cf7ce7caf9dc7bb619
Nowadays, you can hardly surprise people by telling them that you use cryptocurrencies in your daily life. To give users more choice when sending and receiving funds, the EDC Blockchain team implemented a number of functions that allow you to take full advantage of the latest blockchain technologies on the EDC platform. The new functionality provides reliable tools for making secure transactions and a wide range of options for transferring funds.
The main feature for users who value privacy when transferring funds is the ability to make completely anonymous transactions. As you know, ordinary crypto payments are only partially anonymous: the blockchain makes all transactions and their history public but it does not determine who exactly is the person behind a certain wallet address.
This type of anonymity is often called pseudo-anonymous privacy or pseudo-anonymity. You can compare it to a writer writing under a pseudonym. The author can stay incognito as long as nobody knows his or her real name. But as soon as it is revealed that he is the author of the books, the pseudonym thing stops working, and all of his or her work is no longer a mystery.
This is what happens when anonymous transactions are made: as soon as your address in the blockchain is connected to your personal data, your transactions history will be immediately disclosed, while there is a large number of tools to connect a wallet address to its owner. However, the anonymous transactions feature will help you stay completely anonymous when you need to be.
Another innovation from the EDC Blockchain team is the code-package function, which represents sending a specially generated code to the recipient of the funds. Inside the code, there is information about the amount of the transaction. In order for the recipient to get the money, they have to enter the code. It provides our system with an additional layer of security!
The channel through which the code is transferred to the recipient is unknown. We are basically dealing with double authentication; it’s like receiving a text message when using a bank card. It’s not enough to have a card or a phone number linked to this card, as you need to have both at the same time, and according to the logic of banks, only the true owner of the account can have them.
The code package is a blockchain interpretation of such protection. A significant advantage that this type of transaction provides is the ability to specify a refund date. If the check hasn’t been used after the refund date expires, the funds are returned to the check creator. Transactions in the Bitcoin network are irreversible, which creates all kinds of risks of errors or unwanted actions, and, accordingly, often leads to loss of user funds.
Thus, the platform security solutions offered by EDC Blockchain give users a complete guarantee of the safety of their funds and open up additional opportunities for making transactions!
In addition, the code package has one more advantage, which is the ability to send the code to third parties. The code package can be easily used in loyalty promotions or as gift certificates, and clients can always use their blockchain bonuses at any time that is convenient for them! This is one of the manifestations of EDC Blockchain's mission: global tokenization of small and medium-sized businesses using the latest digital technologies!
Creating a code package is very simple - just open your personal EDC Blockchain account and click “Cheques”:

https://preview.redd.it/yqno9ew0lom31.png?width=662&format=png&auto=webp&s=955bb5e089e6f5d353a583d6227fc43447aaae26
Now you can choose the amount of EDC coins for creating your check, specify the validity period of the code, and in case your recipient hasn’t used your code before the validity period is over, the coins will be returned to your wallet.
After that, you can generate a code for this package - only the owner of this code can receive the amount of funds specified in the check. It keeps your funds secured.
https://preview.redd.it/l106kzv3lom31.png?width=596&format=png&auto=webp&s=052109df40446a70eb1d3af5aa401ab931bd450d
Red Envelope is another special feature for transactions on the EDC Blockchain platform, which most of our competitors don’t have. Red Envelope is an extension of the code package. The Red Envelope expands the possibilities of using the code package for many financial tasks, so it’s an important tool for platform users.
The most important difference between such a transaction and the code package is that several people can use the Red Envelope at the same time, which significantly increases the potential use of this tool!
To create a Red Envelope, just activate the reusable function of the check and then specify the number of people between whom the funds will be distributed. After that, it is necessary to generate a code which recipients can use to gain access to the check.
Send the code to your recipients, and they will be the only ones having access to the envelope, which completely eliminates the need to control the distribution of your funds. And if for some reason the coins remain unused, they will automatically be returned to your account after the date specified when creating the Envelope. This way, we can make so many things so much simpler!

https://preview.redd.it/2xhwvfi6lom31.png?width=516&format=png&auto=webp&s=1172a5fadc2b0bc3ae8226dd8c5c84c9e1f17d0c
You can find more information about the use of products and functional features of the platform in the Instructions section on the official EDC Blockchain website.
Follow us on Twitter, Facebook and Telegram.
submitted by EDC-Blockchain to u/EDC-Blockchain [link] [comments]

Is it legal to use a bitcoin mixer?

Bitcoin is one of the technologies in the world. Based on the most secure, blockchain tech, Bitcoin has emerged strongly as the best alternative for monetary transactions. Only a decade into its existence and it is already a huge success.
One of the basic reasons for its rapid growth is its global nature. It does not belong to any country or any individual party. This is because it does not require a third party to complete a transaction.
This feature makes many people to believe bitcoin is anonymous. However, the true nature of the currency is pseudo-anonymous, this means, it is not truly anonymous because someone else can track your transactions.
Why is Bitcoin not Anonymous? Bitcoin is not anonymous first of all because of the nature of transactions applied. There are two important parts of the transactions; the input, which is simply the private keys, and the output which is the public keys.
You need both the private and public keys to successfully achieve a transaction. Once a transaction has been confirmed, it is saved on a public ledger. This public ledger is available freely for anyone to access.
If someone manages to get a full blockchain, they can easily track it to real life. This is one of the things that make Bitcoin not a good idea. Bad actors can use you information to steal your Bitcoins of share it with other people who may harm you.
But you can avoid all that Just because bitcoin is not anonymous, it does not mean that now you cannot use it anonymously. There are many ways you can make your transaction unnoticeable. Sometimes it only takes steps as simple as using the right type of wallet. Or you can only transact using VPN.
But the most secure way that most people are considering today is the use of Bitcoin Mixing or Tumbling. In essence, a Bitcoin Mixer https://mixertumbler.com allows you to shuffle your coins from your wallet with those from another account so that you don’t leave any trace. No one knows where the transaction starts and where it ends.
It is quite easy to use Bitcoin Mixers. Simply choose the tumbling services, input the new address, choose the delay time and you are good to go. These services have been very helpful in ensuring people transact online.
But is it legal? With the rising crime in the online realm, there is need to have such services that protect users from hackers. Bitcoin services are used by the government to track down their citizens as well.
Using Bitcoin mixers is not entirely illegal. There are no clear laws that command anyone against using such services. Because of the nature of transactions involved however, some people use the services for illegal money transfers.
Conclusion Using Bitcoin mixers is a great way to transact online. This is the reason the services have kept growing in fame. If you are thinking of starting with them, just be careful to pick a service you can trust.
submitted by bitcoin_mixer_reddit to u/bitcoin_mixer_reddit [link] [comments]

A proposal for a decentralized social network layer capable of storing rich media

Hello folks!
I have been thinking about the idea of decentralised social network for quite some time, and recently the ideas formed what I think is a rather compete picture. In light of recent Yours announcements I think it's a proper time to share these ideas with a community.
It turned into a long post, and there is no guarantee these idea have a contact with reality, so forgive me if I stole a few minutes of your time.
Protools and standards that will help to understand the proposal (besides blockchain): Memo - blockchain-based base social network protocol, WebRTC transport protocol, WebTorrent JavaScript BitTorrent protocol implementation, BidDB - blockchain crawler by u/unwriter, Progressive Web Apps –– cross platform mobile and desktop apps installable without gatekeepers.
Overall, I prefer WebTorrent in my proposal instead of IPFS as BitTorrent protocol is proved to be robust for almost two decades, while IPFS at this moment is very young and overhyped.
What I propose is a layer that can exist on top of any Memo-like protocol, where Memo forms a base social network state, and the media layer extends its capabilities so that it's possible to store rich media files without any centralised hostings.
Here are the hypothesis/axioms I use as a basement for such a media layer
The proposed idea is based on a play of three actors, or a triangle of 'Original Posters' 'Moderators' and 'Viewers'. Below is detailed explanation of each role, and there are some sub-roles that will be discussed alongside.
Original Poster is anyone connected to the internet who is willing to share any kind of content with the world with only modern browser and a content itself in possession.
Moderator is anyone in the connected world who is willing to be engaged into a socially important role with only a desktop computer with decent amount of free disk space in possession. There is no need to ask a permission to become a moderator.
Viewer is anyone willing to enjoy the media without the need to be engaged with existing social media platforms.
Base technologies:
  1. A webtorrent enabled website with a support of basic bch wallet functionaloty.
  2. A webtorrent enabled website with a feed of op_return messages. Note: 1 and 2 can be implemented as a single platform. (e.g. instant.io x datacash x chainfeed)
  3. A webrtc enabled cross platform desktop torrent client hybridised with a bitdb instance
  4. A webtorrent enabled torrent tracker(s)
The flow:
The Original Poster uses a web browser to create a torrent of the attached media. OP registers the torrent on a tracker, puts infohash alongside a tracker url and desired hashtags into op_return and publishes the memo formatted transaction to bitcoin network. The progress bar shows the status of the 'pseudo' upload that's familiar to most non-tech savvy people. During that phase the content is in network’s ‘working-memory’.
The Moderator uses software to parse the op_return feed. The software continuously downloads all the media from initial seeders and presents it to moderator one by one. It does not open itself as a seeder until moderator decided whether this is a kind of content worth bothering. It's completely subjective decision and every moderator can follow personal strategy. It can be imagined as clicking the green and red buttons where the red one is clicked if the content is subjectively a complete garbage. Once the green button is clicked, moderator becomes a seeder of the content. Moderator can also 'reply' to OPs message with hashtags: every hashtag that corresponds to one of initial hashtags gives it additional weight. Every omitted hashtag loses weight. Some new hashtags can as well be introduced by a moderator. The deeper the history of moderator’s categorization activity, the more weight categorization transaction gives to hashtags (but this is a higher level concept and can vary from implementation to implementation). Moderator creates an internal queue of stored media and deletes the oldest content as soon as the storage threshold is hit (but some other policy can be implemented if moderator decides so). Described above is a level00 moderator who decided to judge the very unclassified content that's received directly from initial seeders.
If the collective speed of content approval is lower than speed of new content introduction, OPs is notified that it maybe necessary to wait for a prolonged time for content to be uploaded, or the fee can be included towards a 'super-moderator' address, so moderators who operate under a single swarm will priorities that content. That address can be a mulitisig where each moderator is a part of a joint account. Once in a while they unlock funds and distribute them in accordance to each moderator's contribution based on the number of 'categorisation transactions' – replies with hashtags, and there can be additional rules that prevent cheating such as only one categorisation transaction to each OP post is taken into account, or rules with some degree of centralisation that encourage seeding, such as the more the moderator seeds the more he earns from these fees if the swarm operates under a single tracker). Alternatively, payouts can be implemented as simple and centralised as existing mining pools.
There are Moderator sub-roles, such as a moderator can choose to only parse the content that was categorised to some degree (e.g. only nsfw content, or only non-nsfw content). The deeper the categorisation, the more precise is the kind of content that's fetched by a moderator, to a degree where moderator can actually enjoy the process a lot as he approves the kind of content he is the most interested in, akin to browsing chronologically filtered subreddit feed. Moderator can also choose to parse several 'categories' simply by 'subscribing' to several hashtags or hashtag tuples. The subroles can be named like moderator level01, level10, level11 etc. By replying to lower level moderator's categorisation transactions, higher-level moderators gives or removes hashtags weight.
The Viewer is presented with a feed of op_return media posts (similar to chainfeed.org), and the content is fetched on the fly from the webtorrent network. The moment the content is fetched the viewer becomes a seeder and continues seeding for as long as content is cached inside browser's storage. That way, the more moderators have approved the content, and the more followers the OP has, the longer the content will persist in a network's 'short-term’ memory.
The Viewer role has sub-roles as well. As soon as the user is engaged into that kind of social network, he can become a Loyal User by installing a special software on a desktop computer that is very similar to Moderators's software, but differs in a following way: viewer inputs Memo account identifier (which is a bitcoin address) into the software that only fetches and seeds the content that was liked by a user, completely in background. As the whole network state is a public information, each user can increase the level of loyalty by specifying the maximum 'dimension' of the content being fetched and seeded, where 1D is the content liked by initial viewer, 2D is the content liked by initial viewer and accounts followed by initial viewer and so on, up until around 6D, where mostly anything that was liked is stored within individual's storage threshold. Loyal Viewers can adopt different policies to restrict the content being fetched and seeded by blacklisting or prioritising certain hashtags, adopting some third-party priority/black lists, as well as specifying storage threshold. Contented that is stored by Loyal Users can be imagined as persisted in networks ‘long-term’ memory. The more Loyal Users are engaged in a network, and the more likes certain content has, the longer it will be stored.
It's worth noting that centralised torrent trackers are not points of failure per se as they are mostly used to pass the content from initial [browser] seeders to moderators. As soon as the content is approved by at least one moderator it can be listed on different trackers operated by different entities, and there can be a rotation of trackers if necessary. That said, each moderator can always re-register all of the content in possession on a new tracker, and the tracker can be adopted by web op_return feed providers. Moreover, the ongoing evolution of browser standards related to web-workers will make in-browser dht lookup a reality in a 2-3 years, which is likely a reasonable window to bootstrap such a network. OP can use some trackers only known among neighbours in particular area.
The layer is vulnerable to a situation where trackers blacklist certain content, and such content can be accessed by using a different op_return feed provider with different trackers, or a native app that will be able to fetch content seeders from the dht. Networks such as i2p can be used to create deep media layers operated anonymously. Also, as Tor is adopted by mainstream browsers (e.g. Brave) Viewers can access trackers through Tor, and such trackers are more resilient. These viewers will be unable to seed, however.
The layer is capable of storing any kind of content, but during bootstrap phase it will be most suitable for images, short video/audio messages, markdown formatted blogposts with embedded media. Each Moderator / Loyal Viewer can adopt different policies related to the size of the content being fetched and stored according to investments into storage facilities. If the proposed idea works, there will be parties willing to store some heavyweight content such as movies. If the layer is accessed from within a native app, it's even capable of livestreams, where the more users are watching a stream the more bandwidth there is for others to join, completely without any centralised content distribution networks.
As outlined above, the layer consist of short-term memory layer capable of storing content for minutes-days, and long-term memory layer capable of storing content for months and probably years. I use biological metaphors here instead of computer science ones as in my opinion the behaviour of this media layer resembles human memory more than computer memory, as ultimately it's a collective human brain decides what to remember and for how long. There is no guarantee that something will be stored at all, and at the same time some kind of content that's collectively perceived as valuable can be stored for a prolonged period of time.
Few words in regard to monetisation. Some heavily engaged players can choose to archive old content and provide access in trade for some micropayments. I see like the Joystream protocol can be used here with little changes such as adoption of webrtc transport protocol. Some different monetisation strategies can be discussed later as microtransaction technologies are more mature and well understood.
I am willing to form a workgroup of developers and creative enthusiasts who find the described idea interesting. I have been thinking about a possible starting point, so I have acquired the BlockPress source code with intention to distribute it in open source. We postponed the announcement a bit as the process of open-source release always takes time. BlockPress is an alternative Memo protocol implementation with a rather slick UI that's familiar to non tech savvy users - the quality I find extremely important. I think this can be a good starting point. If you think so as well, feel free to drop me a telegram message @taowanzou or [proton mail](mailto:[email protected]). Follow me on memo as well!
Sorry for any possible mistakes as English is not my primary language. And thanks for you time reading this!
submitted by taowanzou to btc [link] [comments]

A clarification from Anonymous Bitcoin (ANON) and ZCL

A special thank you to the mods @ /cryptocurrency for allowing us to post this

Hello everyone, Anonymous Bitcoin (ANON) here. We would like to clarify a few things about ZClassic and the upcoming fork that is going to occur on September 10th 2018. By the time this is posted ANON’s white paper will have been published, and both ZClassic Community Edition and ZClassic Blue teams will have officially submitted proposals to BTCP to take over active development of ZClassic. To augment that, we have outlined key project details and resources below.

ANONYMOUS BITCOIN (ANON)



“Anonymous Bitcoin provides protection to its users with one main goal in mind; anonymity. Transact, and enjoy your privacy”

You can watch ANON’s official announcement @ https://youtu.be/hYDJ-lDYFKw?t=91
And todays announcement @ https://youtu.be/VoKptIKvt9A?t=2940
Todays article: http://bitcoinist.com/anonymous-bitcoins-anon-advisor-whitepaper-summer-roadmap-unveiled/


———————————————————————————————————————————————————————————


VISION

Anonymous Bitcoin is an advancement of the technology of both the Bitcoin and ZClassic blockchain through a co-fork of both cryptocurrencies.

We are introducing differentiating factors deemed important by the community that set us apart from previous forks. Some of these factors include staking through use of masternodes, increased block size and a transparent development process.

The Development team will be sharing updates constantly.

The fork will provide a 1:1 ratio of Anonymous Bitcoin to all holders of ZClassic (“ZCL”) or Bitcoin (“BTC”).

We are currently working to be listed on multiple exchanges while introducing a complete package of privacy and long-term utility. Anonymous Bitcoin intends to improve upon the way the crypto community utilizes privacy as well as reinvent the way “no coiners” view crypto. As effective communication is key to mass adoption, our marketing strategy aims to reach those not already involved in the cryptosphere.

———————————————————————————————————————————————————————————

WHY ANOTHER FORK?

The Bitcoin and ZClassic protocols were incredible advancements in security and privacy. This undisputed fact is why we felt the need to create a dual fork combining the best of both coins.

Bitcoin is only pseudo anonymous and lacks transparent governance. Introducing ZK- snarks and master nodes to this legacy blockchain will greatly increase the privacy and speed of transactions.

The ability to effectively communicate is not a skill displayed by previous forks. We strongly believe that the community deserves a transparent forking process as well as exchange support, a cohesive team and a marketing strategy to gain attention from those who have yet to buy bitcoin.

———————————————————————————————————————————————————————————

COMMUNITY

The Development team will bring the community on a transparent journey in the creation of a privacy coin. Check them out below, and follow our socials and videos as we go behind the scenes of this forking process.

OUR TEAM

The Anonymous Bitcoin Team has strong connections across the blockchain, media, and legal space.

Each team member from the founders to the development team specialize in their delineated tasks.



KEY DETAILS

















( * development pacing ahead of schedule, considering moving up the timeline and fork date )



RESOURCES:

Website: http://www.anonymousbitcoin.io/

Executive Summary: https://www.anonymousbitcoin.io/executive_summary

White Paper: http://www.anonymousbitcoin.io/whitepaper

Twitter: https://twitter.com/ANON_BTC

Linkedin: https://www.linkedin.com/company/anonymous-bitcoin/

Youtube: https://www.youtube.com/channel/UCU-BMMTH8z0ow0xHjWZHRUg

*ZClassic Community Edition: *

Proposal: https://drive.google.com/file/d/1IpKtJ1nOMoXh_penbG_LFk9mT4mGEUfD/view

*Zclassic Blue: *

A short message from Zclassic Blue

ZclassicBlue - WHO ARE WE?

We are group of Zclassic hodlers and fans who believe in ZCL and want to continue actively on its development, in order to make it become one of the top coins.

Active Development

We launched new nodes, gave support to Electrum wallet, and we are launching a new mining pool. We are committed to work actively on Zclassic development.

Official links:

✓ Webpage : https://zclassicblue.org/

✓ Twitter : https://twitter.com/ZclassicBlue/

✓ Medium : https://medium.com/@zclassicblue/
submitted by DocIzar to CryptoCurrency [link] [comments]

How to get Anonymous Bitcoin Wallet + Debit Card Bitcoin Anonymous Transaction System. Dark Wallet - YouTube Fully Anonymous Bitcoin Transactions With A Bitcoin Mixer ... BITCOIN WALLET VERSPRICHT ANONYME TRANSAKTIONEN 4 Ways To Get Bitcoin Anonymously - YouTube

However, Bitcoin is not anonymous and cannot offer the same level of privacy as cash. Bitcoin.org. Bitcoin is Pseudonymous. Sending and receiving bitcoins is like writing under a pseudonym. If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them. In Bitcoin, your pseudonym is the address to which you receive ... In actual, the transaction involving the Bitcoin is Pseudo anonymous. When it comes to the designing of Bitcoin transaction then it is worthy of mentioning that it is not associated with the identity or person. There can be alphanumeric strings that are being used as the address of the Bitcoin transaction. These usually get recorded on the most secure and popular Blockchain. Bitcoin Wallet ... In truth, bitcoin is only pseudo anonymous, or “pseudonymous” as some call it. All bitcoin transactions can be traced back to the digital wallets that send and receive them. While a wallet’s owner doesn’t necessarily need to associate their name or other identifying information with a wallet, many do. And for those who don’t, you can be sure law enforcement, government agencies, and ... An Anonymous BitCoin Wallet is just that, but bitcoin can be traced if you arent careful. BitCoin is still far more private than credit cards, it’s still much less anonymous than cash. The way Bitcoin works, all Bitcoin transactions are stored in a public ledger called the blockchain. The data stored in each of these transactions includes a bitcoin payment amount, the Bitcoin addresses of ... Identity and Blockchain: Pseudo-Anonymous Bitcoin Versus Trusted Participant. October 6, 2016 By Charles Carrington. co-authored by Luke Sully 4 min read. iStock. Since its creation ...

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How to get Anonymous Bitcoin Wallet + Debit Card

Tutorial: https://tinyurl.com/ybkkegse Earn Bitcoin Free Here: https://tinyurl.com/ybkkegse How to create a unhackable bitcoin wallet at home no programming ... Wie man anonym Bitcoin kauft - Duration: 11:57. Blue Alpine Krypto Analysen 1,468 views. 11:57. ... Sicheres Bitcoin Wallet erstellen - Schritt-für-Schritt Anleitung - Electrum Deutsch Geldbeutel ... #Bitcoin is pseudo-anonymous. This means that while your Bitcoin address doesn’t reveal identifiable details, all transactions and the wallet addresses involved are recorded publicly. We shared big updates and plans for what’s next in the November PRV Holders Call. We also answered your questions and comments live, so if you missed it, wat... This week on #BlockchainCentral: We talk about the concept of a #Bitcoin tumbler or Bitcoin mixer. Bitcoin is not known for its anonymity, but rather its pse...

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