I know it would be awesome if platforms like Steam, Origin, Uplay, and the likes, would allow their users to purchase their games using Nano. Some already allowed purchases with Bitcoin, but that is no longer the case, guess why? Fees...
Well, it's not Steam, but now everyone can buy a wide range of Games and DLCs from PlayNANO, from all major gaming platforms. More than 2000 games and counting. And best of all, most of the games are way cheaper on PlayNANO than if bought directly from those platforms. Take for example F1 2020, which costs $60 on Steam, but you can get it for half the price with us.
And because of our Earn features, users can actually get many of those games "for free", as long as they take the time to earn enough Nano for their needs :)
Next up on my ToDo list:

Change the Affiliate Program to a 40% commission on everything system. Anyone that refers a user to the platform will get a 40% commission on our profits from that user. It's a lot, and will most likely go down in the future, but right now is my best kind of marketing.
Provably Fair Poker. Shouldn't take long now :)

As always, any and all feedback will be much appreciated! Let me know if you have something in mind that you think would be a good addition to PlayNANO.

Hi everybody, Charles Hoskinson here, live from warm sunny Colorado! Always warm, always sunny, sometimes Colorado. I got my Massey Ferguson hat on. Take that off, see, my hair's all messed up. One of these days and we'll lose all that hair.
It's a rough day today and that markets are terrible down 20 percent for most people and every now and then I talk about price. I rarely do but in general let's talk about the macro. You know crypto is a unique phenomenon. It's a unique thing and these are crazy times. I remember just a few months back when coronavirus first came out and we saw basically everything just bottom out everybody went crazy. They went to cash all asset classes. Just went to hell in a handbasket and I did a video and I said guys our best days are ahead of us as an ecosystem and as an industry and what happened everything got better over time. People started getting more optimistic. You know the reality is that we are seeing an old industry die right now, the legacy financial system.
I just read Biden's tax plan. He wants to treat capital gains as ordinary income and put another 12 and a half percent on top of that. All this stuff and at the end of the day all these new taxes amount to a trillion or so extra dollars I think per year in income... Takes six years to the make back what they printed out of thin air for coronavirus and are willing to print again which begs the question why do we even pay taxes anymore if we can just print money out of thin air? We have a whole movement of people: the AOC crowd wake up every day and they say modern monetary theory, the actual supply, doesn't matter. All that matters is how much can we print and get away with it. This is where we're at as an economy right now and globally speaking a lot of other nations agree with this. So, given that the whole world, the leadership of the world, talking about negative interest rates, they're talking about predatory financial systems hyperinflation. Just print money, modern monetary theory, just print as much cash as you want and we look to the cryptocurrency industry, and god, we got a lot of problems...
I think this (week's market) collapse is probably because one of the most prominent exchanges in South Korea got hit. They got shut down by the South Korean government and they at one time were responsible for a big part of the Kimchi premium and you know what? Korean government might shut down a few more Korean exchanges and usually the market based these things in. We got crazy yield farming weird stuff going on in the DeFi space. All these other local events and their blips they don't really matter that much just like corona in the long term won't matter too much in terms of the markets. What matters is the trend and where are we going. I had a meeting with some people this morning and we talked about revolutionizing the healthcare industry and getting things better in terms of supply chains. I had another meeting with a soon-to-be former Wyoming state representative about how we're going to get governments to adopt blockchain technology. I talk every day to governors, heads of state, congressmen, senators, mayors. Some cities, sometimes very large cities, with millions of people and they all say the same thing. We need help, we need solutions, we're damn tired of the way that the old system is running. You know what? if we don't solve it a lot of people are going to get hurt or continue to be hurt.
The common theme that we all have is no one's happy. Look at the black-lives-matter protests, taking their philosophy of the organization aside, the rank and file people are there not because they love Marxism. They're there because they're unhappy with the way society is and why shouldn't they be? When my grandfather, got his first job, on my mom's side, out of the Korean war, he was a lineman and he made enough money from that job to have seven kids and have his wife stay at home. No college degree, fresh out of high school, fresh out of marine demolitions and a lineman. Five boys and two girls and he could take care of that family and save money every month. Have a car and a house and that was his standard of living. How many people in the middle class today in the United States or Europe for that matter have the ability on a single person's salary to raise seven children and have the wife or the husband stay at home? How many people, not many, why? because our monetary system has failed us. The inflationary policy has created a situation where the Jeff Bezos can have 200 billion dollars and make windfall profits every year regardless of how bad the economy is. The everyday people they don't get a pay increase, so in a lot of cases they don't get to keep their job and their money deteriorates in value a lot more than three percent per year.
Our industry has principles in that we worship the math and the protocols and the stable monetary policy. These types of things, and as corrupt as some of the exchanges can be, and some of the bad actors are, all movements suffer from these warts, and they're finite and temporary. You run out of them. At some point self-regulation kicks in or standards kick in and these bad actors flush out and what's left behind is a crucible that contains the truth of the matter which is: we're going to win as an industry. There's just no doubt in my mind. You have bad days in the market, you have damn good days in the market, you get addicted to the good ones and you hate the bad ones but at the end of the day it's only going in one direction which is crypto is going to eat the world: every voting system, every property registration system, every monetary system, the next 25 to 50 years is going to be running on the tech we build and others build and running with the principles of power to the edges.
This is the great challenge of our time. To do it in a way that it's fair, transparent, open and doesn't allow a government to co-opt it. It's gonna be a lot of fights here. The least of our concerns and matters are a red day and every now and then I like making these videos to remind people why I'm here and why you should be here too. As toxic as the trolls could be and these other people can be, none of them really matter. Markets don't really matter, what matters are the principles and the purpose behind what we do and you have to ask yourself are you happy with the way that society is? Are you happy with the money in your pocket? Are you happy with the political leadership representing your nations? Are you happy with your future and do you honestly believe if we keep doing the things that we did and continue to do that the future is going to be better or do you think it's going to be worse or stagnant?
I think too many people have woken up and they realize that if we continue doing the things that we do the future is going to be a bad place and they don't want that to happen. We're voting with our wallets, we're voting with our feet and we as a collective industry are waking up and figuring out how to build something better and there's some good days and bad days along the way. Today's a bad one but there are going to be good days tomorrow just like I told you back when corona made everything go into free fall and I told you before and I warned you about with ICO mania.
We're in a DeFi bubble right now, there's no doubt in my mind about that. I saw it in 2017 with ICO mania. I see it here and there's probably going to be worse days ahead in that respect but the trend is always the same and never forget that and never forget that real people are actually adopting these systems and using them. Every day we see more and more and every day that movement grows and what's so humbling is that I know a lot of you are here with me. It used to be pretty lonely space to be in a few years back. You know, the conferences, they didn't have many people. My first bitcoin meetup group in 2011 in Colorado is at the gypsy house cafe I think, in Denver. I registered for the event I showed up. Two people registered myself and another guy and the other guy didn't show up so I had coffee with myself. Compare that with the Shelley summit that we had in July of 2020. 10 000 attendees, 10 000 from all across the world, compare that to where we are at today just nine years later pretty amazing if you think about how fast things have grown and how many fertile beautiful ideas exist in this industry and what this industry is doing for the world as a whole.
That is why we're going to win because at the end of day who can argue against freedom? Who can argue against liberty? Who can argue against putting people in control? The only way you can is when you believe people are stupid, people are evil, people are incapable and I suppose that's a philosophical difference between those who currently lead and the people who want to replace them. The people in charge right now of the world, the big banks, the fortune 500 companies, the media, Hollywood... These things, they're very cynical, people who believe in the worst in us they look at everyday people who sustain and disgust and say these people if left to their own devices will be chaos. These people, if left to govern themselves will burn everything to the ground and destroy everything and every single time I have ever seen a bad event happen what the news doesn't show you and what those people don't talk about is how we come together and help each other out. Someone gets injured in the streets more often than not people show up and help them, people need a helping hand. Someone always shows up more often than not and this is no different. I don't believe the political process is effective anymore in any modern democracy. They've all been co-opted, perhaps they always were but what I do believe is that we can come together and change things economically which is what we're doing.
It's messy building our own money, it is messy building our own industry, it is messy. We make a lot of mistakes along the way. We lose a lot along the way, we collect some scars too while we're at it but progress every year keeps being made. The technology every year keeps getting better. Today, right here right now, provably secure proof of stake protocols are in circulation. They were a fantasy five years ago now they're a fact of life today. Right here right now snarks have evolved by an order of magnitude in every category from validation time to efficiency to proof size in all favorable ways which opens up all kinds of new applications and scalability and privacy. Today, right here right now, layer 2 protocols are more advanced than they have ever been in our industry's history giving us the ability to build payment systems that scale to billions of people. Today, right here right now, we are seeing massive innovations in governance and a fertile environment for things like approval voting, threshold voting, preference voting, quadratic voting, that will enable us to build all kinds of new treasuries and governance systems that eventually will scale to nation states.
As the politicians of today argue whether the post office can properly count paper ballots that people mail we are building voting systems with state-of-the-art cryptography living on phones where you can vote. It's just a tap of a button and enjoy more security than we have ever imagined before. That is the future this movement, is enabling humanity money flowing at the speed of thought and the speed of thought making new money. How can you compete with that? You can't unless you bring people down with cynicism and disdain and ultimately what competing vision do they offer? That you all should be in chains? That we should just be wage slaves? We should just accept that every year our money deteriorates in value? That we should just accept that the rich will get richer the poor get poorer? Every now and then they throw us table scraps and when we get real angry they usurp the movements and then install their own leadership to basically take those movements from us as we've seen so many times before and we will see again. I'm sorry that's not a road I want to walk down and I'm willing to ride rocky waters, crazy markets, crazy people in unlimited FUD and trolling but I will never apologize for believing in the best in people and I will never apologize for believing that if only we give everyone around us the tools to save themselves and society that they can do it.
They don't need great leaders and charisma. No one needs someone to tell them what to do. We all know what to do. We all know how to make the world a better place. We just have to be trusted enough to do it ourselves. You know what for the first time ever we did with bitcoin and then we did it again with ethereum and now we're doing it again with Cardano and we as a movement will continue to do it.
I believe our best days are ahead of us and every day I wake up and there's more people marching with me in that respect and one day it'll be millions and one day it'll be billions and one day all those cynics will be gone, replaced with optimists, who once again believe that tomorrow is going to be better than today and that we're going to leave the world just a little bit better than the way we found it. So, every now and then on a tough day I like making a little message and letting you guys all know it's going to be better and you know what? it will be. Just have to have faith that it will be. So, hold the line, hold strong and have faith in each other and go do something, build something, start something.
Got a lot of podcasts on the way, a lot of things coming down the pipe. For the dc-fund, a lot of opportunities to actually innovate. Multi assets are coming, soon Plutus is coming, soon guys are going to be able to build a lot. Start thinking today what's the business plan? What would you like to change, small or large. You don't complain about voting. Change voting. Your own organization, maybe you belong to a club, do a blockchain-based voting system. Maybe you have some political influence? Have a primary, democrat or republican, or your local primary or country for selecting candidates done with blockchain-based voting. Maybe you want to build a new financial product? Think about it, figure it out. There's so much there, it's all there, it's ready to go, it's for you to take and build and innovate with.
Every day I wake up I try to make the platforms better. I try to push the technology a little further along. I try to hire great people and bring them into our industry. Cardano brought the Haskell industry into the cryptocurrency space. Cardano brought a lot of academics who had never thought about cryptocurrencies into the cryptocurrency space and we made our problems their problems and as a consequence they started solving them in ways we could have never done before. Most importantly Cardano brought a lot of you into the cryptocurrency space and you never thought you'd have this level of control and freedom over the fabric of society in the direction of the human race. Don't let that slip through your fingers. Figure out what you want to do with that super power. Might be small, might be big. I dreamed big, you can dream big too, even if you want to just dream small. Every person counts, every action counts up to the hill. Y'all matter to me and to each other and we're all in this together, never forget that! So, hard day, rough day, tomorrow will be a better one. The day after will even be better. See you guys soon, take care...
Source: https://www.youtube.com/watch?v=qM192wAV4LA
On Kimchi premium: https://www.investopedia.com/terms/k/kimchi-premium.asp
EDIT: title typo -> rembeber -> remember :)

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions

On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.

LBRY - To allow users to deploy content natively to LBRY
MakerDAO to allow users to lend small amounts backed by their Reddit community points.
STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).

On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it

Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...

Download Dragonchain’s dctl
Input three commands into a terminal
Build an image
Run it

More information can be found in our Get started documents.

Architecture

Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs

Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).

Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers

During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider

Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.

Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
Operational multi-cloud
Operational on-premises capabilities
Operational deployment to any datacenter
Over 700 independent Community Verification Nodes with proof of ownership
Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions

Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)

All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)

With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.

Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
In a combination of the above, customers could cover aggregated fees.
Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface

From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple

Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.

Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete

For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.

Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.

All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else

Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else

Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline

If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available

To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress

See above

Compatibility with HSMs & hardware wallets

For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly

This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable

This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred

Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:

Obtain VP support and approval for the release
Verify ownership of the software to be released
Verify that no proprietary content would be released
Convince the organization that there was a value to the open source community
Convince the organization that there was a value to Disney
Offer the plan for ongoing maintenance of the project outside of Disney
Itemize competing projects
Verify no conflict of interest
Preferred license
Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
Obtain legal approval
Approval from corporate, parks, and other business units
Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
Trademark searches conducted for the selected name Dragonchain
Obtain IT security approval
Manual review of OSS components conducted
OWASP Dependency and Vulnerability Check Conducted
Obtain technical (software) approval
Offer management, process, and financial plans for the maintenance of the project.
Meet list of items to be addressed before release
Remove all Disney project references and scripts
Create a public distribution list for email communications
Remove Roets’ direct and internal contact information
Create public Slack channel and move from Disney slack channels
Create proper labels for issue tracking
Rename internal private Github repository
Add informative description to Github page
Expand README.md with more specific information
Add information beyond current “Blockchains are Magic”
Add getting started sections and info on cloning/forking the project
Add installation details
Add uninstall process
Add unit, functional, and integration test information
Detail how to contribute and get involved
Describe the git workflow that the project will use
Move to public, non-Disney git repository (Github or Bitbucket)
Obtain Disney Open Source Committee approval for release

On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/

Weekly Wrap: This Week In Chainlink September 28 - October 4

Chainlink Hackathon - Congratulations to the Winners of the Chainlink Virtual Hackathon 2020

Thanks to all #Chainlink Hackathon participants and congrats to the winners! Devs showcased a wide range of new Chainlink functions:
- P2P car rental platform using a @Tesla API
- Yield farming RPG game
- AMM insurance market
- decentralized library & more

Announcements and Integrations 🎉

Chainlink Brings Onchain Proof of Reserve to WBTC

WBTC's $1 billion+ in Bitcoin will now gain additional security using Chainlink's Proof of Reserve capability. We're thrilled to be working with @BitGo to enable greater transparency & therefore more usability for WBTC as a form of collateral across DeFi.

Alchemy Pay to Integrate Chainlink Price Feeds to Power DeFi Products and Fair Crypto Payments

Crypto-fiat payment provider @AlchemyPay is integrating Chainlink price feeds into its payments & upcoming DeFi platform. This ensures that users receive the fair market when interacting with DeFi dApps or making retail crypto payments on Alchemy Pay.

Planetarium Plans Integration with Leading Oracle Solution Chainlink

Gaming platform Planetarium is integrating Chainlink into @NineChronicles to power cross-game Metaverse communication, in-game commodity pricing, and secure trading of in-game items, with additional plans to use Chainlink VRF to create unique NFT-backed in-game items.

StrongBlock Integrates Chainlink Oracles Live on Mainnet to Help Power its DeFi Mining Rewards Distribution

DeFi platform @strongblock_io has integrated Chainlink’s ETH/USD & LINK/ETH Price Reference Data feeds live on mainnet to calculate its staking rewards. This ensures that all rewards issued to StrongBlock users are accurately & transparently distributed.

Combining Stacks 2.0 And Chainlink Oracle Technology Brings Developers New Smart Contract Possibilities

Blockchain platform @blockstack is integrating Chainlink as its go-to oracle solution to empower universally connected smart contracts. Blockstack devs will have access to any API, Sybil resistant nodes, live decentralized price oracles for DeFi and more.

Offshift Taps Chainlink to Provide Oracle Feeds for Its zkAsset Private Pegs

Private synthetic asset DeFi platform @OffshiftXFT has integrated Chainlink's BTC/USD and XAU/USD Price Feeds live on Testnet to serve as decentralized reference prices for users minting, burning, and trading its privacy-preserving zkAssets.

Inotel Becomes a Chainlink Node Operator Live on Mainnet

DeFi platform @OfficialCentaur integrates Chainlink VRF to add enhanced transparency. Chainlink VRF's provably fair source of RNG enables unbiased random selection of sale participants, leveling the playing field for all.

Chainlink VRF used by Centaur to Deploy New Standard for Enhanced Transparency in Public Sale Lotteries

New Chainlink Node operator Inotel is now live on mainnet helping secure Chainlink's Price Reference Data for DeFi developers. Inotel brings DevOps experience as a PoS validatonode operator on 9 other Web3 networks, helping secure millions in USD value.

Featured Videos & Educational Pieces 🎥

DeFi Insurance available ahead of more Blockchain dApps and Regulation

Chainlink's oracle network unlocks new markets for insurance + expands DeFi’s footprint. @avivahl from @Gartner_Inc highlights how organizations like @ArbolMarket use Chainlink rainfall data to give farmers access to parametric weather insurance contracts.

Easily Sell Your APIs and Data to Any Blockchain via Chainlink

Data providers use Chainlink to sell data/APIs to multiple blockchains in under an hour, from existing APIs & without running any additional software. Many have then launched Chainlink Nodes in a few hours, to sell signed data directly to smart contracts.

TrustSwap and Chainlink Live Q&A: Using Decentralized Oracles for Trustless Defi Transactions

Rewatch our live Q&A with TrustSwap CEO, Jeff Kirdeikis. We will be speaking about TrustSwap's recent integration of Chainlink and its use of decentralized oracles to grow the DeFi ecosystem.

Aavegotchi and Chainlink Live Q&A: DeFi-staked Crypto Collectibles with Chainlink VRF

Rewatch our a live Q&A with the Aavegotchi team. We speak about Aavegotchi's recent integration of Chainlink VRF and its use of decentralized oracles to grow the NFT ecosystem. Come learn more about NFTs / crypto-collectibles, Aavegotchi and more.

SmartCon Videos are now ALL available. Watch them here

Upcoming Events 📅

<08 October> [VIRTUAL MEETUP] - Elastos and Chainlink Live Q&A
<15 October> [VIRTUAL MEETUP] - Spanish Community Virtual Meet Up Chainlink con AAVE
<15 October> [VIRTUAL MEETUP] - Virtual Meetup with IC3

Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate

Chainlink Labs is hiring to build Chainlink’s network: Check out these open roles 👩‍💼

View all open roles at https://careers.smartcontract.com
Are there other community content and celebrations that we missed? Post them in the comments below! ⤵️

This 6 month old Augur V2 video got me excited. I thought I’d share its value proposition, which I feel is currently being overlooked.
If you’ve been in the space for some time, you know what Augur is: a decentralized prediction market and the biggest (in ETH)/earliest ICO on Ethereum. Prediction markets allow for better forecasting by leveraging the power of incentivized wisdom of the crowd. V2 will soon launch with a revamped UI, cheap 0x orders and stablecoin integration. It’s set to become the most accessible, fair and open betting platform out there.
What you may not realize is its impact in the Defi space. Each market/prediction/question is represented by a token that can be traded in other Defi apps. This gives it incredible flexibility. Consider these possibilities:

DIY Derivative markets - You want to bet on Covid being a threat to the economy. Unfortunately JPOW’s printer is on and it’s pumping the equities markets. Why not create an Augur market that tracks the number of Covid deaths worldwide? What about betting on unemployment rates?
Sports betting - Betfair, Draftkings, Bet360? What about Augur, a provably fair betting alternative with unlimited liquidity that can’t prevent you from betting or run off with your money? More from Joey Krug here
Augur as an oracle - Understandably, everyone’s been raging about decentralized oracles lately; they’re how we merge blockchain and the real world. Need an oracle? Design your own with Augur, use it in your Dapp later.
Polling and futarchy - Incentivized polling has never been so easy. V2 is positioning itself to become a prime resource for the upcoming US elections this fall. Later versions could even be used to direct policy making by introducing conditional markets. I’ll let 2014 Vitalik explain
Bug bounties and smartcontract insurance - Easily insure yourself against smartcontract bugs or use your white hacker skills and pay yourself by designing your own bug bounties.

This synergetic composability gets incredibly interesting when combined with other Defi legos. How about token sets based on bets between the ratios of active addresses on Ethereum vs Bitcoin? Why not make a Uniswap pair between a Real-T token and a bet against Detroit real-estate to hedge your position and gain transaction fees on the side?
Tokenomics
With growing interest over new Defi tokens, REP will no doubt position itself among the top. It’s one of the few that actually benefits from using a blockchain and has a utility that isn’t just governance related. Staked REP consensus is used to validate markets and collect fees in the process.
We’ve seen most successful Defi tokens pick up steam, especially in the past month, as mirrored by their sharp price increases: BNT +200%, KNC +90%, LEND + 70%, MKR +60%, LRC +140%. Augur V1 markets aren’t being used right now since the long awaited V2 is just around the corner. The repeated additional delays in V2’s launch date have kept its price comparatively low.
With that in mind, if one believes in the team’s ability to deliver and for Defi to continue growing, REP seems to be an extremely strong long term play. Whether you're a token holder or not, you'll likely see its contribution in many spheres of the Defi world. The above examples only scratch the surface of what it enables.
Disclaimer - I own some REP
For more info: Augur V2 Whitepaper Final pre-launch tasks The Augur Edge by pacific_Oc3an

https://preview.redd.it/h49t3t6u9pl51.png?width=1221&format=png&auto=webp&s=fde73f432fd15d2b361f4e1621e67785bc27e30e
We as AzureADA SPO watch all the videos by Charles Hoskinson. These videos are not only great news on Cardano development and ecosystem, but very often a source of inspiration. The video with the name “Rough Days” streamed live on September 4, 2020 is really a historical speech, that’s why we decided to transcribe for everyone who prefers to read rather than to watch and listen.
The video you can watch here: https://www.youtube.com/watch?v=qM192wAV4LA
And here is the text version.
Hi everybody
Charles Hoskinson here live from warm sunny Colorado. Always warm, always sunny, sometimes Colorado. And I got my Massey Ferguson hat on. Take that off, see my hair's all messed up. One of these days and we'll lose all that hair.
It’s a rough day today and that markets are terrible. down 20 percent for most people. And every now and then I talk about price, I rarely do, but in general, let's talk about the macro.
Crypto is a unique phenomenon, it's a unique thing and these are crazy times. I remember just a few months back when coronavirus first came out and we saw basically everything just bottom out, everybody went crazy they went to cash all asset classes just went to hell in a handbasket. And I did a video and I said: «Guys, our best days are ahead of us as an ecosystem and as an industry. And what happened? Everything got better over time. People started getting more optimistic. You know, the reality is that we are seeing an old industry die right now, the legacy financial system.
I just read Biden's tax plan. He wants to treat capital gains as ordinary income and put another 12,5% on top of that. And at the end of the day, all these new taxes amount to a trillion or so extra dollars, I think, per year in income. Takes six years from the make back what they printed out of thin air for coronavirus and are willing to print again. Which begs the question why do we even pay taxes anymore if we can just print money out of thin air. And we have a whole movement of people, the AOC crowd, wake up every day and they say: «Modern monetary theory: the actual supply doesn't matter. All that matters is how much can we print and get away with it."
This is where we're at as an economy right now. And globally speaking, a lot of other nations agree with this. So given that the whole world, the leadership of the world is talking about negative interest rates, they’re talking about predatory financial systems hyperinflation, just print money modern monetary theory, just print as much cash as you want. And we look to the cryptocurrency industry and, God, we got a lot of problems.
I think this collapse is probably because one of the most prominent exchanges in South Korea got hit. They got shut down by the South Korean government. They, at one time, were responsible for a big part of the kimchi premium. And you know what? Korean government might shut down a few more Korean exchanges. And usually the market base these things in. We got crazy yield farming weird stuff going on in the DeFi space. All these other local events and their blips, they don't really matter that much. Just like corona in the long term won’t matter too much. In terms of the markets what matters is the trend and where are we going.
I had a meeting with some people this morning and we talked about revolutionizing the healthcare industry and getting things better in terms of supply chains. I had another meeting with a soon-to-be former Wyoming state representative about how we're going to get governments to adopt blockchain technology. I talk every day to governors, heads of states congressmen, senators, mayors, some cities, sometimes very large cities with millions of people. They all say the same thing: «We need help, we need solutions, we’re damn tired of the way that the old system is running». And you know what? If we don't solve it - a lot of people are going to get hurt or continue to be hurt. The common theme that we all have is - no one's happy.
Look at the black lives matters protests. Taking their philosophy of the organization aside
the ranking file people are there not because they love marxism they're there because they're unhappy with the way society is. And why shouldn't they be?
When my grandfather got his first job on my mom's side out of the Korean war, he was a lineman. And he made enough money from that job to have seven kids and have his wife stay at home. No college degree fresh out of high school, fresh out of marine demolitions and alignment five boys and two girls. And he could take care of that family and save money every month, have a car and a house and that was his standard of living. How many people in the middle-class today in the United States or Europe for that matter have the ability on a single person’s salary to raise seven children and have the wife or the husband stay at home?
How many people? Not many. Why? Because our monetary system has failed us. The inflationary policy has created a situation where the Jeff Bezos can have 200 billion dollars and make windfall profits every year regardless of how bad the economy is and the everyday people they don't get a pay increase, so a lot of cases they don't get keep their job and their money deteriorates in value a lot more than three 3% per year.
Our industry has principles in that we worship the math and the protocols and the stable monetary policy, these types of things. And as corrupt as some of the exchanges can be and some of the bad actors are: all movements suffer from these warts. And they're finite and temporary. You run out of them at some point. Self-regulation kicks in or standards kick in and these bad actors flush out. And what's left behind is a crucible that contains the truth of the matter, which is: we're going to win as an industry.
There's just no doubt in my mind. You have bad days in the market, you have damn good days in the market. You get addicted to the good ones and you hate the bad ones but at the end of the day, it's only going in one direction which is: crypto is going to eat the world.
Every voting system, every property registration system, every monetary system the next 25 to 50 years is going to be running on the tech we build and others build. And running with the principles of power to the edges. This is the great challenge of our time: to do it in a way that it's fair, transparent, open, and doesn't allow a government to co-opt it. It's gonna be a lot of fights here the least of our concerns and matters are a red day. And every now and then I like making these videos to remind people why I’m here and why you should be here too. As toxic as the trolls could be and these other people can be - none of them really matter. Markets don’t really matter. What matters are the principles and the purpose behind what we do. And you have to ask yourself: - Are you happy with the way that society is? Are you happy with the money in your pocket? Are you happy with the political leadership representing your nations? Are you happy with your future and do you honestly believe if we keep doing the things that we did and continue to do that the future is going to be better? Or do you think it's going to be worse or stagnant?
I think too many people have woken up and they realize that if we continue doing the things that we do, the future is going to be a bad place. And they don't want that to happen. And so we're voting with our wallets, we’re voting with our feet and we as a collective industry are waking up and figuring out how to build something better. And there's some good days and bad days along the way. Today's a bad one, but there are going to be good days tomorrow. Just like I told you back when corona made everything go into free fall. And I told you before. And I warned you about with ICO mania. We're in a DeFi bubble right now. There’s no doubt in my mind about that. I saw it in 2017 with ICO mania, I see it here. And there's probably going to be worse days ahead in that respect. But the trend is always the same and never forget that. And never forget that real people are actually adopting these systems and using them. And every day we see more and more and every day that movement grows.
What's so humbling is that I know a lot of you are here with me. It used to be pretty lonely space to be in a few years back. You know, the conferences, they didn't have many people. My first bitcoin meetup group in 2011 in Colorado is at the gypsy house cafe, I think I was 13th in Pearl over Capitol hill in Denver. And I registered for the event, I showed up. Two people registered: myself and another
guy. And the other guy didn't show up so I had coffee with myself. Compare that with the Shelley summit that we had in July of 2020: 10 000 attendees. Ten thousands from all across the world. Compare that to where we are at today just nine years later. Pretty amazing if you think about how fast things have grown and how many fertile beautiful ideas exist in this industry and what this industry is doing for the world as a whole. And that is why we're going to win. Because at the end of the day who can argue against freedom? Who can argue against liberty? Who can argue against putting people in control? The only way you can is when you believe people are stupid, people are evil, people are incapable. And I suppose that's a philosophical difference between those who currently lead and the people who want to replace them.
The people in charge right now of the world, the big banks, the Fortune 500 companies, the media, Hollywood, these things - they're very cynical people who believe in the worst in us. They look at everyday people with sustain and disgust and say: «These people if left to their own devices will be chaos. These people if left to govern themselves will burn everything to the ground and destroy everything.». And every single time I have ever seen a bad event happen, what the news doesn’t show you and what those people don't talk about is how we come together and help each other out. Someone gets injured in the streets more often than not people show up and help them. People need a helping hand someone always shows up more often than not. And this is no different.
I don't believe the political process is effective anymore in any modern democracy. They've all been co-opted, perhaps they always were. But what I do believe is that we can come together and change things economically, which is what we're doing. And it's messy. Building our own money is messy, building our own industry is messy. We make a lot of mistakes along the way, we lose a lot along the way. We collect some scars too while we're at it. But progress every year keeps being made. The technology every year keeps getting better.
Today, right here, right now provably secure proof of stake protocols are in circulation. They were a fantasy five years ago, now they're a fact of life.
Today, right here, right now snarks have evolved by an order of magnitude in every category from validation time to efficiency to proof size. In all favorable ways which opens up all kinds of new applications and scalability and privacy.
Today, right here, right now layer 2 protocols are more advanced than they have ever been in our industry's history. giving us the ability to build payment systems that scale to billions of people.
Today, right here, right now we are seeing massive innovations in governance and a fertile environment for things like approval voting, threshold voting, preference voting, quadratic voting that will enable us to build all kinds of new treasuries and governance systems that eventually will scale to nation-states.
As the politicians of today argue whether the post office can properly count paper ballots that people mail, we are building voting systems with state-of-the-art cryptography living on phones where you can vote with just a tap of a button and enjoy more security than we have ever imagined before.
That is the future. This movement is enabling humanity. Money flowing at the speed of thought and the speed of thought making new money.
How can you compete with that? You can’t, unless you bring people down with cynicism and disdain. And ultimately what competing vision do they offer? That you all should be in chains.
That we should just be wage slaves. We should just accept that every year our money deteriorates in value. That we should just accept that the rich will get richer the poor get poorer. And every now and then they throw us table scraps. And when we get real angry - they usurp the movements and then install their own leadership to basically take those movements from us. As we've seen so many times before and we will see it again.
I'm sorry that's not a road I want to walk down. And I'm willing to ride rocky waters, crazy markets crazy people in unlimited flood and trolling. But I will never apologize for believing in the best in people. And I will never apologize for believing that if only we give everyone around us the tools to save themselves and society that they can do it. They don't need great leaders and charisma. No one needs someone to tell them what to do. We all know what to do. We all know how to make the world a better place. We just have to be trusted enough to do it ourselves.
You know what? For the first time ever we did with Bitcoin. And then we did it again with Ethereum. And now we're doing it again with Cardano. And we, as a movement, will continue to do it.
So I believe our best days are ahead of us and every day I wake up and there's more people marching with me in that respect. And one day it'll be millions. And one day it'll be billions. And one day all those cynics will be gone. Replaced with optimists who once again believe that tomorrow is going to be better than today. and that we're going to leave the world just a little bit better than the way we found it.
So every now and then on a tough day I like making a little message and letting you guys all know it's going to be better and you know what it will be. Just have to have faith that it will be. So hold the line, hold strong, and have faith in each other and go do something. Build something. Start something. Got a lot of podcasts on the way. A lot of things coming down the pipe for the DC fund. A lot of opportunities to actually innovate. Multi-assets are coming soon. Plutus is coming soon. Guys are going to be able to build a lot.
Start thinking today what's the business plan. What would you like to change? Small or large. You don't complain about voting - change voting! Your own organization. Maybe you belong to a club - do a blockchain-based voting system. Maybe you have some political influence. Have a primary democrat or republican or your local primary in your country for selecting candidates done with blockchain-based voting. Maybe you want to build a new financial product. Think about it! Figure it out! There's so much there! It’s all there! It's ready to go, it's for you to take and build and innovate with.
Every day I wake up I try to make the platforms better. I try to push the technology a little further along. I try to hire great people and bring them into our industry. Cardano brought the Haskell industry into the cryptocurrency space. Cardano brought a lot of academics, who had never thought about cryptocurrencies, into the cryptocurrency space and we made our problems their problems and as a consequence, they started solving them in ways we could have never done before.
But most importantly Cardano brought a lot of YOU into the cryptocurrency space and you never thought you'd have this level of control and freedom over the fabric of society in the direction of the human race. Don't let that slip through your fingers. Figure out what you want to do with that superpower. Might be small, might be big. I dreamed big. You can dream big too. Even if you want to just dream small: every person counts every action counts. Up to the hill. Y'all matter. To me and to each other and we're all in this together. Never forget that. So, hard day, rough day. Tomorrow will be a better one. The day after will even be better.
See you guys soon
Take care!

This article was caught by our spamfilter because it's hosted on a reward-for-article platform (similar to steemit). Nonetheless I will respond to it, as it recycles the same old lies about Dash many of us have grown used to and it serves as in illustration that these lies and accusations are still after 6 years regurgitated 1:1 by ignorant bystanders without a single critical thought behind them.
The article is a real mess as you will notice. The author didn't even bother to edit the question section into Dash from ZCash. Anyway, that's not the real issue. This is about the section "Dash Launch And Issuance" which I am about to respond to.

The Dash cryptocurrency has a rather controversial launch and issuance as it involved a 2-day ‘instamine’ or ‘premine’

There is a huge difference between a premine and a fastmine. Conflating the two shows the author is either ignorant and thus unqualified to talk about the subject matter or tries to mislead the reader. A premine means the public is excluded from mining, which provably never happened in Dash, thus the term is 100% inapplicable.

According to Dash’s founder, Evan Duffield, this premine was the result of a bug. However, there are many people who beg to differ.

Those who "beg to differ" are idiots plain and simple. Because we have already proven that the same thing happened 2.5 years earlier in Litecoin from which Dash originally forked off (and not from Bitcoin as the author initially claims at the beginning of the article).

To ‘resolve’ the situation, the majority of these instamined coins were sold for very low prices on exchanges. However, it is widely believed that most of these coins were simply scooped up by Evan Duffield and the Dash core team for incredibly low prices.

This is my favorite part, because it's probably the only original thought in the article, as I have never heard anyone make up something so incoherently dumb with regards to Dash's launch.
First they say, Evan mined "all the coins by himself" now suddenly he's buying coins for "incredibly low prices"?! So, which is it? Can't have it both ways. Or did he buy coins from himself?
Let's cut the crap. Is it too hard to simply admit the coins were sold on the free and open market to ANYONE willing to buy them?? Nothing was sold to "resolve" anything.
Anyone, not just Evan and the team, had the chance to buy cheap coins for under a Dollar, which was fair and square, hands down. Those who missed out crying foul today are really just trying too hard. Also Dash Core did not exist in 2014. Again the author shows his ignorance further disqualifying himself.

Duffield released Dash before its intended release date (which means the instamine that occurred can be classified as a premine).

This is a lie. It did not happen as anyone can see on the blockchain. The author is a liar.

Dash’s instamine happened because Dash was launched with a block reward of 500 coins per block before it was abruptly cut 2 days later after 2million coins were instamined.

Of course the fix would happen "abruptly" as soon as the necessary blockheight was reached, otherwise it would've gone on forever. It was a mess up and nobody denies this. The fact remains that the coins were sold for pennies as my analysis has shown. Here Evan talks about the launch himself. He clearly states that coins were spilt out too fast and he was under immense pressure to fix it asap.

Initially, Dash was only minable on Linux, which could have been intended so that fewer people would mine Dash and Duffield and Dash’s core team could dominate mining (over 90% of all computers use the Windows operating system).

Conjecture without a shred of evidence assuming ill-intent over good faith. Back in 2014 mining was still a niche hobby by nerds where Linux was the dominating operating system. Evan is a nerd who was using Linux at the time. He didn't own a Windows machine. If he did, why would he offer a reward to someone compiling a Windows binary? If he was the evil fastminer everyone accuses him of, it would be in his best interest to delay Windows mining as much as possible. The accusation holds no water.

Evan Duffield was able to temporarily mine Dash by himself for a while when the public miner wasn't working.

Lie. Lie. Lie. This never happened and the author is still a liar. I know what this alludes to and I have thoroughly debunked it as the nonsense it is.

Dash was initially meant to have a max supply of 80 million DASH, but Evan Duffield held an obscure poll where the majority of the voters voted to reduce the Dash max coin supply from 80million to 20million (which instantly made the instamined DASH worth more).

First of all the value of all coins goes up with a lower supply, not just those that were first mined (duh!). This is intellectual dishonesty, but hardly surprising considering the previous lies of the author. Second, this poll is near worthless as a historic summary as it ignores what went down in the community before: Watch this analysis by Tao of Satoshi to learn that there was major community pressure on Evan's back with endless debates on how to change the reward structure and emission rate of Dash until it was finally settled after a full 7 adjustments in both directions. The narrative that there was one evil singular supply decrease to maliciously enrich Evan is completely stupid.

All in all, Dash’s launch is shrouded in controversy, and it's clear that Evan Duffield and Dash developers benefited tremendously from how everything went down.

The only thing shrouded in mystery is why anyone would believe these false conclusions, accusations and flat out lies when the facts are readily accessible. Of course the founder of any cryptocurrency benefits the most. It's how it's supposed to be. Satoshi "benefitted tremendously" as well from launching Bitcoin. The fact that Evan was able to quit his day job and work for Dash full time was the best thing that could have ever happened to this project. Of course our detractors don't like that, because they don't want to see Dash succeed. But we did and we're still here after 6 years of ceaseless innovation. Repeating ancient lies cannot undo that.

As part of a recent tweet calling on all novelists to message her with their questions on Bitcoin (BTC), CoinDesk journalist Leigh Cuen publicized a tweeted response from none other than beloved Harry Potter author J. K. Rowling. "I don’t understand Bitcoin," Rowling said, adding, "Please explain it to me."
Dear J. K. Rowling:
The first thing you need to understand is that Bitcoin is magic. It allows you to exchange money with anyone in the world instantly, cheaply and securely, without the need for any centralized, Goblin-based banking authority.
Chapter 1: The White Paper From No One
Bitcoin was invented by a mysterious computer programmer named Satoshi Nakamoto — almost assuredly a pseudonym. In Bitcoin’s 10 year history, the identity of Bitcoin’s creator has never been unearthed. We can refer to him here as He-Who-Has-Not-Been-Named.
Chapter 2: The Self-Writing Book
Ownership of each coin is confirmed and recorded instantly in a digital ledger called a Blockchain — similar to how the Quill of Acceptance records the name of each new potential Hogwarts student in the Book of Admittance. Except instead of recording magical births, we’re recording who does and doesn’t own a particular coin. This ledger is public and allows anyone to see who has owned a given coin throughout its history. A good visual representation for this process is a checkout card in a library book. Contrasting with Gringotts (as well as with muggle banks), Bitcoin has no set hours of operation. You can send your Bitcoin anywhere in the world — day or night, 365 days per year — and the recipient will receive it in a matter of seconds. It's also pretty darn secure, no dragons necessary.
Chapter 3: The Unconjurable Coin
Following Gamp’s Law of Elemental Transfiguration, new money cannot be conjured from nothing. Bitcoin respects this particular law far better than any government-issued currency. Only 21 million coins will ever exist on the Bitcoin network, and nothing can ever change that. By capping the number of Bitcoin to this finite amount, scarcity bestows each coin with a certain level of intrinsic value. It also protects Bitcoin from the woes of extreme hyperinflation seen in government-issued currencies.
Chapter 4: The Magical Mine
Bitcoin transactions must be validated in order for them to be added to the Blockchain ledger. Anyone in the world is able to contribute to this mining process using computer processing power. The first miner to confirm each new batch of transactions, called a block, receives a fresh issuance of brand new, never-before-spent Bitcoin as a reward. As a whole, this process would make a fine candidate for the Ludicrous Patents Office.
Chapter 5: The Secret Key
Users store their Bitcoin in a digital account called a wallet. Each wallet is protected by a unique private key, sometimes recorded as a series of human-readable words. Similar to a passcode or spell, knowing the right combination of words allows anyone to access the coins stored in a particular wallet. On the other hand, losing this key means that its corresponding wallet can never be opened again. That is why it is important to keep your wallet's private key a secret, while also maintaining adequate backups in as many locations as possible. Seven is a great number — and you don't even have to kill anyone to make them. Unlike sending bank wires, checks or other online payments, sending and receiving Bitcoin does not directly expose any party's private information. To receive Bitcoin, one simply shares their public wallet address — a string of letters and numbers — which, in and of itself, poses no hacking risk. Kind of like an email, but for money.
Chapter 6: The Faceless Exchange
Bitcoin can be bought and sold using any number of online marketplaces called exchanges. Coins can be traded for nearly any global currency — save, perhaps, Galleons — at constantly fluctuating prices. They can also be traded for other Blockchain-based currencies. You also do not need to buy a whole coin. You can buy any portion of a Bitcoin, divisible up to 100,000,000 individual pieces. For example, 0.01 BTC is currently valued at roughly $92 (or 72 Great BP).
Chapter 7: Unfogging the Future
Bitcoin's 10-year history has seen our community transfigured in many different ways. Though the technology began as a way to allow people to securely send money online without the oversight of banks or governments, it is now so much more. Blockchain is being used to create self-executing applications that, in some ways, think for themselves. Developers are utilizing the technology to craft unhackable voting platforms, impossibly huge file storage methods, provably fair betting systems (sure to stoke even Ludo Bagman's ire), and even authenticate and distribute art across every medium to individuals around the world. We can't predict all the magical ways Bitcoin's underlying technology will impact our lives in the future. Divination is, after all, a woolly discipline. What we can say for certain is that Blockchain's strength is in redistributing power. It removes the need for governing bodies and returns the power to share knowledge, riches and even the control of individual privacy back to the people.

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I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are

Currency 13 coins
Platform 25 coins
Ecosystem 9 coins
Privacy 10 coins
Currency Exchange Tool 8 coins
Gaming & Gambling 5 coins
Misc 15 coins
Social Network 4 coins
Fee Token 3 coins
Decentralized Data Storage 4 coins
Cloud Computing 3 coins
Stable Coin 2 coins

Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.

Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
Ontology: Similar to Neo. Interesting coin
Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
Nxt: Similar to Lisk
Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
Neblio: Similar to Neo, but 30x smaller market cap.
NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more

Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
Aion: Aion is the token that pays for services on the Aeternity platform.
USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.

Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.

Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
Achain: Building a boundless blockchain world like Req .
Req: Exchange between cryptocurrencies.
Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.

Storm: Mobile game currency on a platform with 9 million players.
Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.

OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
Ncash: End to end encrypted Identification system for retailers to better serve their customers .
Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.

Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.

BNB: Fee token for Binance
Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.

Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.

Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.

DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.

EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.

I know this post is a bit of a wall of text but hear me out. I do my best to explain my thoughts on the drawbacks of mining and why cryptos that cut out mining are so important.
"Mining" is a misnomer. To laypeople, using this term to describe the consensus mechanism for Proof of Work cryptocurrencies makes it sound like something productive and worthwhile. Who would criticize someone with the admirable and noble task of working to extract gold from the Earth? A valuable piece of metal is produced thanks to their hard work. But crypto mining is different; while it does have a purpose, it is far from productive.

So what is bitcoin mining? If you're to believe the most basic explanations offered such as from this video (https://www.youtube.com/watch?v=GmOzih6I1zs), miners solve "complex math problems". I can still remember when I heard this for the first time (years ago) and even though I'm pretty mathematically inclined, I had assumed this meant that these complex math problems were actually useful and necessary to 'unlock' those bitcoins somehow, and for a long time I didn't think anything more of it. To my mind, I imagined it like there's a million problems to solve and each time you solve one you get a reward. The math problem might have been, for example, to find the next largest prime. Instead the actual problem is, at its most basic level, nonce finding. See https://en.bitcoin.it/wiki/Nonce. Different coins or forks may use a different problem but the end result is the same - energy is spent solving a pointless problem ('pointless' in the sense that the actual math answer doesn't benefit anyone).

In reality bitcoin mining could be better described as "provably expending energy in exchange for lottery tickets". It's an arms race of everyone competing to waste energy. The more energy wasted, the more likely one is to win the lottery. See here for an example: https://www.youtube.com/watch?v=K8kua5B5K3I&t=2m44s. I find it abhorrent that there are entire businesses (at several scales at that) set up primarily to "mine" bitcoin or other coins. I see videos like this one (Digital Gold: https://www.youtube.com/watch?v=kxbCHlXZ-0U) and think it bizarre that it's considered acceptable for businesses set up to waste energy to protect the network and that people are so sad when the market takes a turn and they have to close up shop. Your business model is to compete with other people to waste energy to earn lottery tickets that have variable value. Those who can lower their operating costs the most will be the most profitable (or with the way difficulty adjustments happen, perhaps the *only* ones profitable). A portion of the money flowing in to buy BitCoin is being used to prop up these wasteful businesses. Because it's considered normal by now people don't get outraged at this fact.

Some people who have been around crypto for years take it for granted that this type of process is necessary for security of the network, and to some extent this misunderstanding is forgivable as it is the oldest method and has worked quite well especially at small scale (not mass adoption) when the total energy expenditure was not all that high. Proof of Stake cryptos have demonstrated this is not the case (that the waste is necessary), and in particular cryptos like Nano with its Delegated Proof of Stake show potential for being just as, if not more, secure than PoW coins due to there being less centralization pressure due to having no significant incentive to trying to control more of the vote versus economies of scale pushing the small miners out of business in PoW. A big part of the reason BitCoin transactions became so expensive in Dec 2017 was that to "buy" a transaction in the BitCoin network you had to pay for a part of the combined energy wastage of the network; the other component being that you're also in a bidding war against other people determined to get their transaction included in the next block. So your transaction fee (aka 'mining fee') is you trying to outbid other people to see who gets to pay for the person wasting electricity. Imagine if each end-user scoffing at the $20+ withdraw fee on coinbase at the time actually understood what was behind that fee rather than thinking of it as a nebulous "network fee".

A quote I saw on cc that exemplifies this mindset is as follows:
"And a chain with no fees has no mechanism to pay for security. There NEED to be fees, they just need to be lower than with fiat payment systems."

So many of the BitCoin clones/forks make some attempt to mitigate this problem by, for example, increasing blocksize or changing other parameters like block times. In the end though, most of them are still based on this method of energy wastage to secure the network, aka Proof of Work.
Now if there were no more efficient method than PoW mining then it might be fair to say that its energy expenditure (comparable to the entire energy use of a small country like Belgium) is a necessary price to pay for the value provided by the unique features of the network. In other words, that the energy cost is 'worth it'. The thing is though, there *are* ways to secure a network with far less (or virtually no) energy cost and Nano provides one such case.

Does anyone else find it insane that people in this space think it's normal the energy waste that goes into so called "mining"? Do we need to re-label mining to something that better reflect its nature? Because the end user is generally not involved with the mining, I think they don't really consider the energy cost that their transactions have. And to most of these people, telling them the entire Nano network can be powered by a single wind turbine probably doesn't mean anything. Does there need to be a grassroots movement to push back against wasteful 'mining'? Laypeople concerned about the environmental impact caused by the energy wastage of cryptos often seem to be under the impression that all crypto is necessarily wasteful. How can we get people to care if at the end of the day they just pay a fee and don't get to see the impact? Nano being feeless is one of its biggest strengths but not just because it saves people using it a little bit of money; it's more the fact it cuts out the massive-scale problem of mining. This is hard to get across in a short slogan like "fast, feeless, scalable" though.

[08:07:01] lukminer contains precompiled cn/r math sequences for some blocks: https://lukminer.org/2019/03/09/oh-kay-v4r-here-we-come/
[08:07:11] try that with RandomX :P
[08:09:00] tevador: are you ready for some RandomX feedback? it looks like the CNv4 is slowly stabilizing, hashrate comes down...
[08:09:07] how does it even make sense to precompile it?
[08:09:14] mine 1% faster for 2 minutes?
[08:09:35] naturally we think the entire asic-resistance strategy is doomed to fail :) but that's a high-level thing, who knows. people may think it's great.
[08:09:49] about RandomX: looks like the cache size was chosen to make it GPU-hard
[08:09:56] looking forward to more docs
[08:11:38] after initial skimming, I would think it's possible to make a 10x asic for RandomX. But at least for us, we will only make an ASIC if there is not a total ASIC hostility there in the first place. That's better for the secret miners then.
[08:13:12] What I propose is this: we are working on an Ethash ASIC right now, and once we have that working, we would invite tevador or whoever wants to come to HK/Shenzhen and we walk you guys through how we would make a RandomX ASIC. You can then process this input in any way you like. Something like that.
[08:13:49] unless asics (or other accelerators) re-emerge on XMR faster than expected, it looks like there is a little bit of time before RandomX rollout
[08:14:22] 10x in what measure? $/hash or watt/hash?
[08:14:46] watt/hash
[08:15:19] so you can make 10 times more efficient double precisio FPU?
[08:16:02] like I said let's try to be productive. You are having me here, let's work together!
[08:16:15] continue with RandomX, publish more docs. that's always helpful.
[08:16:37] I'm trying to understand how it's possible at all. Why AMD/Intel are so inefficient at running FP calculations?
[08:18:05] midipoet ([email protected]/web/irccloud.com/x-vszshqqxwybvtsjm) has joined #monero-pow
[08:18:17] hardware development works the other way round. We start with 1) math then 2) optimization priority 3) hw/sw boundary 4) IP selection 5) physical implementation
[08:22:32] This still doesn't explain at which point you get 10x
[08:23:07] Weren't you the ones claiming "We can accelerate ProgPoW by a factor of 3x to 8x." ? I find it hard to believe too.
[08:30:20] sure
[08:30:26] so my idea: first we finish our current chip
[08:30:35] from simulation to silicon :)
[08:30:40] we love this stuff... we do it anyway
[08:30:59] now we have a communication channel, and we don't call each other names immediately anymore: big progress!
[08:31:06] you know, we russians have a saying "it was smooth on paper, but they forgot about ravines"
[08:31:12] So I need a bit more details
[08:31:16] ha ha. good!
[08:31:31] that's why I want to avoid to just make claims
[08:31:34] let's work
[08:31:40] RandomX comes in Sep/Oct, right?
[08:31:45] Maybe
[08:32:20] We need to audit it first
[08:32:31] ok
[08:32:59] we don't make chips to prove sw devs that their assumptions about hardware are wrong. especially not if these guys then promptly hardfork and move to the next wrong assumption :)
[08:33:10] from the outside, this only means that hw & sw are devaluing each other
[08:33:24] neither of us should do this
[08:33:47] we are making chips that can hopefully accelerate more crypto ops in the future
[08:33:52] signing, verifying, proving, etc.
[08:34:02] PoW is just a feature like others
[08:34:18] sech1: is it easy for you to come to Hong Kong? (visa-wise)
[08:34:20] or difficult?
[08:34:33] or are you there sometimes?
[08:34:41] It's kind of far away
[08:35:13] we are looking forward to more RandomX docs. that's the first step.
[08:35:31] I want to avoid that we have some meme "Linzhi says they can accelerate XYZ by factor x" .... "ha ha ha"
[08:35:37] right? we don't want that :)
[08:35:39] doc is almost finished
[08:35:40] What docs do you need? It's described pretty good
[08:35:41] so I better say nothing now
[08:35:50] we focus on our Ethash chip
[08:36:05] then based on that, we are happy to walk interested people through the design and what else it can do
[08:36:22] that's a better approach from my view than making claims that are laughed away (rightfully so, because no silicon...)
[08:36:37] ethash ASIC is basically a glorified memory controller
[08:36:39] sech1: tevador said something more is coming (he just did it again)
[08:37:03] yes, some parts of RandomX are not described well
[08:37:10] like dataset access logic
[08:37:37] RandomX looks like progpow for CPU
[08:37:54] yes
[08:38:03] it is designed to reflect CPU
[08:38:34] so any ASIC for it = CPU in essence
[08:39:04] of course there are still some things in regular CPU that can be thrown away for RandomX
[08:40:20] uncore parts are not used, but those will use very little power
[08:40:37] except for memory controller
[08:41:09] I'm just surprised sometimes, ok? let me ask: have you designed or taped out an asic before? isn't it risky to make assumptions about things that are largely unknown?
[08:41:23] I would worry
[08:41:31] that I get something wrong...
[08:41:44] but I also worry like crazy that CNv4 will blow up, where you guys seem to be relaxed
[08:42:06] I didn't want to bring up anything RandomX because CNv4 is such a nailbiter... :)
[08:42:15] how do you guys know you don't have asics in a week or two?
[08:42:38] we don't have experience with ASIC design, but RandomX is simply designed to exactly fit CPU capabilities, which is the best you can do anyways
[08:43:09] similar as ProgPoW did with GPUs
[08:43:14] some people say they want to do asic-resistance only until the vast majority of coins has been issued
[08:43:21] that's at least reasonable
[08:43:43] yeah but progpow totally will not work as advertised :)
[08:44:08] yeah, I've seen that comment about progpow a few times already
[08:44:11] which is no surprise if you know it's just a random sales story to sell a few more GPUs
[08:44:13] RandomX is not permanent, we are expecting to switch to ASIC friendly in a few years if possible
[08:44:18] yes
[08:44:21] that makes sense
[08:44:40] linzhi-sonia: how so? will it break or will it be asic-able with decent performance gains?
[08:44:41] are you happy with CNv4 so far?
[08:45:10] ah, long story. progpow is a masterpiece of deception, let's not get into it here.
[08:45:21] if you know chip marketing it makes more sense
[08:45:24] linzhi-sonia: So far? lol! a bit early to tell, don't you think?
[08:45:35] the diff is coming down
[08:45:41] first few hours looked scary
[08:45:43] I remain skeptical: I only see ASICs being reasonable if they are already as ubiquitous as smartphones
[08:45:46] yes, so far so good
[08:46:01] we kbew the diff would not come down ubtil affter block 75
[08:46:10] yes
[08:46:22] but first few hours it looks like only 5% hashrate left
[08:46:27] looked
[08:46:29] now it's better
[08:46:51] the next worry is: when will "unexplainable" hashrate come back?
[08:47:00] you hope 2-3 months? more?
[08:47:05] so give it another couple of days. will probably overshoot to the downside, and then rise a bit as miners get updated and return
[08:47:22] 3 months minimum turnaround, yes
[08:47:28] nah
[08:47:36] don't underestimate asicmakers :)
[08:47:54] you guys don't get #1 priority on chip fabs
[08:47:56] 3 months = 90 days. do you know what is happening in those 90 days exactly? I'm pretty sure you don't. same thing as before.
[08:48:13] we don't do any secret chips btw
[08:48:21] 3 months assumes they had a complete design ready to go, and added the last minute change in 1 day
[08:48:24] do you know who is behind the hashrate that is now bricked?
[08:48:27] innosilicon?
[08:48:34] hyc: no no, and no. :)
[08:48:44] hyc: have you designed or taped out a chip before?
[08:48:51] yes, many years ago
[08:49:10] then you should know that 90 days is not a fixed number
[08:49:35] sure, but like I said, other makers have greater demand
[08:49:35] especially not if you can prepare, if you just have to modify something, or you have more programmability in the chip than some people assume
[08:50:07] we are chipmakers, we would never dare to do what you guys are doing with CNv4 :) but maybe that just means you are cooler!
[08:50:07] and yes, programmability makes some aspect of turnaround easier
[08:50:10] all fine
[08:50:10] I hope it works!
[08:50:28] do you know who is behind the hashrate that is now bricked?
[08:50:29] inno?
[08:50:41] we suspect so, but have no evidence
[08:50:44] maybe we can try to find them, but we cannot spend too much time on this
[08:50:53] it's probably not so much of a secret
[08:51:01] why should it be, right?
[08:51:10] devs want this cat-and-mouse game? devs get it...
[08:51:35] there was one leak saying it's innosilicon
[08:51:36] so you think 3 months, ok
[08:51:43] inno is cool
[08:51:46] good team
[08:51:49] IP design house
[08:51:54] in Wuhan
[08:52:06] they send their people to conferences with fake biz cards :)
[08:52:19] pretending to be other companies?
[08:52:26] sure
[08:52:28] ha ha
[08:52:39] so when we see them, we look at whatever card they carry and laugh :)
[08:52:52] they are perfectly suited for secret mining games
[08:52:59] they made at most $6 million in 2 months of mining, so I wonder if it was worth it
[08:53:10] yeah. no way to know
[08:53:15] but it's good that you calculate!
[08:53:24] this is all about cost/benefit
[08:53:25] then you also understand - imagine the value of XMR goes up 5x, 10x
[08:53:34] that whole "asic resistance" thing will come down like a house of cards
[08:53:41] I would imagine they sell immediately
[08:53:53] the investor may fully understand the risk
[08:53:57] the buyer
[08:54:13] it's not healthy, but that's another discussion
[08:54:23] so mid-June
[08:54:27] let's see
[08:54:49] I would be susprised if CNv4 ASICs show up at all
[08:54:56] surprised*
[08:54:56] why?
[08:55:05] is only an economic question
[08:55:12] yeah should be interesting. FPGAs will be near their limits as well
[08:55:16] unless XMR goes up a lot
[08:55:19] no, not *only*. it's also a technology question
[08:55:44] you believe CNv4 is "asic resistant"? which feature?
[08:55:53] it's not
[08:55:59] cnv4 = Rabdomx ?
[08:56:03] no
[08:56:07] cnv4=cryptinight/r
[08:56:11] ah
[08:56:18] CNv4 is the one we have now, I think
[08:56:21] since yesterday
[08:56:30] it's plenty enough resistant for current XMR price
[08:56:45] that may be, yes!
[08:56:55] I look at daily payouts. XMR = ca. 100k USD / day
[08:57:03] it can hold until October, but it's not asic resistant
[08:57:23] well, last 24h only 22,442 USD :)
[08:57:32] I think 80 h/s per watt ASICs are possible for CNv4
[08:57:38] linzhi-sonia where do you produce your chips? TSMC?
[08:57:44] I'm cruious how you would expect to build a randomX ASIC that outperforms ARM cores for efficiency, or Intel cores for raw speed
[08:57:48] curious
[08:58:01] yes, tsmc
[08:58:21] Our team did the world's first bitcoin asic, Avalon
[08:58:25] and upcoming 2nd gen Ryzens (64-core EPYC) will be a blast at RandomX
[08:58:28] designed and manufactured
[08:58:53] still being marketed?
[08:59:03] linzhi-sonia: do you understand what xmr wants to achieve, community-wise?
[08:59:14] Avalon? as part of Canaan Creative, yes I think so.
[08:59:25] there's not much interesting oing on in SHA256
[08:59:29] Inge-: I would think so, but please speak
[08:59:32] hyc: yes
[09:00:28] linzhi-sonia: i am curious to hear your thoughts. I am fairly new to this space myself...
[09:00:51] oh
[09:00:56] we are grandpas, and grandmas
[09:01:36] yet I have no problem understanding why ASICS are currently reviled.
[09:01:48] xmr's main differentiators to, let's say btc, are anonymity and fungibility
[09:01:58] I find the client terribly slow btw
[09:02:21] and I think the asic-forking since last may is wrong, doesn't create value and doesn't help with the project objectives
[09:02:25] which "the client" ?
[09:02:52] Monero GUI client maybe
[09:03:12] MacOS, yes
[09:03:28] What exactly is slow?
[09:03:30] linzhi-sonia: I run my own node, and use the CLI and Monerujo. Have not had issues.
[09:03:49] staying in sync
[09:03:49] linzhi-sonia: decentralization is also a key principle
[09:03:56] one that Bitcoin has failed to maintain
[09:04:39] hmm
[09:05:00] looks fairly decentralized to me. decentralization is the result of 3 goals imo: resilient, trustless, permissionless
[09:05:28] don't ask a hardware maker about physical decentralization. that's too ideological. we focus on logical decentralization.
[09:06:11] physical decentralization is important. with bulk of bitnoin mining centered on Chinese hydroelectric dams
[09:06:19] have you thought about including block data in the PoW?
[09:06:41] yes, of course.
[09:07:39] is that already in an algo?
[09:08:10] hyc: about "centered on chinese hydro" - what is your source? the best paper I know is this: https://coinshares.co.uk/wp-content/uploads/2018/11/Mining-Whitepaper-Final.pdf
[09:09:01] linzhi-sonia: do you mine on your ASICs before you sell them?
[09:09:13] besides testing of course
[09:09:45] that paper puts Chinese btc miners at 60% max
[09:10:05] tevador: I think everybody learned that that is not healthy long-term!
[09:10:16] because it gives the chipmaker a cost advantage over its own customers
[09:10:33] and cost advantage leads to centralization (physical and logical)
[09:10:51] you guys should know who finances progpow and why :)
[09:11:05] but let's not get into this, ha ha. want to keep the channel civilized. right OhGodAGirl ? :)
[09:11:34] tevador: so the answer is no! 100% and definitely no
[09:11:54] that "self-mining" disease was one of the problems we have now with asics, and their bad reputation (rightfully so)
[09:13:08] I plan to write a nice short 2-page paper or so on our chip design process. maybe it's interesting to some people here.
[09:13:15] basically the 5 steps I mentioned before, from math to physical
[09:13:32] linzhi-sonia: the paper you linked puts 48% of bitcoin mining in Sichuan. the total in China is much more than 60%
[09:13:38] need to run it by a few people to fix bugs, will post it here when published
[09:14:06] hyc: ok! I am just sharing the "best" document I know today. it definitely may be wrong and there may be a better one now.
[09:14:18] hyc: if you see some reports, please share
[09:14:51] hey I am really curious about this: where is a PoW algo that puts block data into the PoW?
[09:15:02] the previous paper I read is from here http://hackingdistributed.com/2018/01/15/decentralization-bitcoin-ethereum/
[09:15:38] hyc: you said that already exists? (block data in PoW)
[09:15:45] it would make verification harder
[09:15:49] linzhi-sonia: https://the-eye.eu/public/Books/campdivision.com/PDF/Computers%20General/Privacy/bitcoin/meh/hashimoto.pdf
[09:15:51] but for chips it would be interesting
[09:15:52] we discussed the possibility about a year ago https://www.reddit.com/Monero/comments/8bshrx/what_we_need_to_know_about_proof_of_work_pow/
[09:16:05] oh good links! thanks! need to read...
[09:16:06] I think that paper by dryja was original
[09:17:53] since we have a nice flow - second question I'm very curious about: has anyone thought about in-protocol rewards for other functions?
[09:18:55] we've discussed micropayments for wallets to use remote nodes
[09:18:55] you know there is a lot of work in other coins about STARK provers, zero-knowledge, etc. many of those things very compute intense, or need to be outsourced to a service (zether). For chipmakers, in-protocol rewards create an economic incentive to accelerate those things.
[09:19:50] whenever there is an in-protocol reward, you may get the power of ASICs doing something you actually want to happen
[09:19:52] it would be nice if there was some economic reward for running a fullnode, but no one has come up with much more than that afaik
[09:19:54] instead of fighting them off
[09:20:29] you need to use asics, not fight them. that's an obvious thing to say for an asicmaker...
[09:20:41] in-protocol rewards can be very powerful
[09:20:50] like I said before - unless the ASICs are so useful they're embedded in every smartphone, I dont see them being a positive for decentralization
[09:21:17] if they're a separate product, the average consumer is not going to buy them
[09:21:20] now I was talking about speedup of verifying, signing, proving, etc.
[09:21:23] they won't even know what they are
[09:22:07] if anybody wants to talk about or design in-protocol rewards, please come talk to us
[09:22:08] the average consumer also doesn't use general purpose hardware to secure blockchains either
[09:22:14] not just for PoW, in fact *NOT* for PoW
[09:22:32] it requires sw/hw co-design
[09:23:10] we are in long-term discussions/collaboration over this with Ethereum, Bitcoin Cash. just talk right now.
[09:23:16] this was recently published though suggesting more uptake though I guess https://btcmanager.com/college-students-are-the-second-biggest-miners-of-cryptocurrency/
[09:23:29] I find it pretty hard to believe their numbers
[09:24:03] well
[09:24:09] sorry, original article: https://www.pcmag.com/news/366952/college-kids-are-using-campus-electricity-to-mine-crypto
[09:24:11] just talk, no? rumors
[09:24:18] college students are already more educated than the average consumer
[09:24:29] we are not seeing many such customers anymore
[09:24:30] it's data from cisco monitoring network traffic
[09:24:33] and they're always looking for free money
[09:24:48] of course anyone with "free" electricity is inclined to do it
[09:24:57] but look at the rates, cannot make much money
[09:26:06] Ethereum is a bloated collection of bugs wrapped in a UI. I suppose they need all the help they can get
[09:26:29] Bitcoin Cash ... just another get rich quick scheme
[09:26:38] hmm :)
[09:26:51] I'll give it back to you, ok? ha ha. arrogance comes before the fall...
[09:27:17] maye we should have a little fun with CNv4 mining :)
[09:27:25] ;)
[09:27:38] come on. anyone who has watched their track record... $75M lost in ETH at DAO hack
[09:27:50] every smart contract that comes along is just waiting for another hack
[09:27:58] I just wanted to throw out the "in-protocol reward" thing, maybe someone sees the idea and wants to cowork. maybe not. maybe it's a stupid idea.
[09:29:18] linzhi-sonia: any thoughts on CN-GPU?
[09:29:55] CN-GPU has one positive aspect - it wastes chip area to implement all 18 hash algorithms
[09:30:19] you will always hear roughly the same feedback from me:
[09:30:52] "This algorithm very different, it heavy use floating point operations to hurt FPGAs and general purpose CPUs"
[09:30:56] the problem is, if it's profitable for people to buy ASIC miners and mine, it's always more profitable for the manufacturer to not sell and mine themselves
[09:31:02] "hurt"
[09:31:07] what is the point of this?
[09:31:15] it totally doesn't work
[09:31:24] you are hurting noone, just demonstrating lack of ability to think
[09:31:41] what is better: algo designed for chip, or chip designed for algo?
[09:31:43] fireice does it on daily basis, CN-GPU is a joke
[09:31:53] tevador: that's not really true, especially in a market with such large price fluctuations as cryptocurrency
[09:32:12] it's far less risky to sell miners than mine with them and pray that price doesn't crash for next six months
[09:32:14] I think it's great that crypto has a nice group of asicmakers now, hw & sw will cowork well
[09:32:36] jwinterm yes, that's why they premine them and sell after
[09:32:41] PoW is about being thermodynamically and cryptographically provable
[09:32:45] premining with them is taking on that risk
[09:32:49] not "fork when we think there are asics"
[09:32:51] business is about risk minimization
[09:32:54] that's just fear-driven
[09:33:05] Inge-: that's roughly the feedback
[09:33:24] I'm not saying it hasn't happened, but I think it's not so simple as saying "it always happens"
[09:34:00] jwinterm: it has certainly happened on BTC. and also on XMR.
[09:34:19] ironically, please think about it: these kinds of algos indeed prove the limits of the chips they were designed for. but they don't prove that you cannot implement the same algo differently! cannot!
[09:34:26] Risk minimization is not starting a business at all.
[09:34:34] proof-of-gpu-limit. proof-of-cpu-limit.
[09:34:37] imagine you have a money printing machine, would you sell it?
[09:34:39] proves nothing for an ASIC :)
[09:35:05] linzhi-sonia: thanks. I dont think anyone believes you can't make a more efficient cn-gpu asic than a gpu - but that it would not be orders of magnitude faster...
[09:35:24] ok
[09:35:44] like I say. these algos are, that's really ironic, designed to prove the limitatios of a particular chip in mind of the designer
[09:35:50] exactly the wrong way round :)
[09:36:16] like the cache size in RandomX :)
[09:36:18] beautiful
[09:36:29] someone looked at GPU designs
[09:37:31] linzhi-sonia can you elaborate? Cache size in RandomX was selected to fit CPU cache
[09:37:52] yes
[09:38:03] too large for GPU
[09:38:11] as I said, we are designing the algorithm to exactly fit CPU capabilities, I do not claim an ASIC cannot be more efficient
[09:38:16] ok!
[09:38:29] when will you do the audit?
[09:38:35] will the results be published in a document or so?
[09:38:37] I claim that single-chip ASIC is not viable, though
[09:39:06] you guys are brave, noone disputes that. 3 anti-asic hardforks now!
[09:39:18] 4th one coming
[09:39:31] 3 forks were done not only for this
[09:39:38] they had scheduled updates in the first place
[09:48:10] Monero is the #1 anti-asic fighter
[09:48:25] Monero is #1 for a lot of reasons ;)
[09:48:40] It's the coin with the most hycs.
[09:48:55] mooooo
[09:59:06] sneaky integer overflow, bug squished
[10:38:00] p0nziph0ne ([email protected]/vpn/privateinternetaccess/p0nziph0ne) has joined #monero-pow
[11:10:53] The convo here is wild
[11:12:29] it's like geo-politics at the intersection of software and hardware manufacturing for thermoeconomic value.
[11:13:05] ..and on a Sunday.
[11:15:43] midipoet: hw and sw should work together and stop silly games to devalue each other. to outsiders this is totally not attractive.
[11:16:07] I appreciate the positive energy here to try to listen, learn, understand.
[11:16:10] that's a start
[11:16:48] <-- p0nziph0ne ([email protected]/vpn/privateinternetaccess/p0nziph0ne) has quit (Quit: Leaving)
[11:16:54] we won't do silly mining against xmr "community" wishes, but not because we couldn'd do it, but because it's the wrong direction in the long run, for both sides
[11:18:57] linzhi-sonia: I agree to some extent. Though, in reality, there will always be divergence between social worlds. Not every body has the same vision of the future. Reaching societal consensus on reality tomorrow is not always easy
[11:20:25] absolutely. especially at a time when there is so much profit to be made from divisiveness.
[11:20:37] someone will want to make that profit, for sure
[11:24:32] Yes. Money distorts.
[11:24:47] Or wealth...one of the two
[11:26:35] Too much physical money will distort rays of light passing close to it indeed.

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Transcript of discussion between an ASIC designer and several proof-of-work designers from #monero-pow channel on Freenode this morning

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