Crypto : Solana marque un nouveau record alors que le
Why the stock to flow model is nonsense, but bitcoin may continue to follow it for a few more years
Bitcoin stock to flow model is wrong because: The basis of the entire model assumes that halvings create exponential price increases because miners lose half of their ability to depress price. Bitcoin inflation year over year inflation rate is ALREADY less than 2%, so whether that rate is 1%, 0.5%, or 0.25%, miners have no tangible effect on price because it's already practically zero. The stock to flow ratio might matter when only 4,000,000/21,000,000 were mined, but with 19,000,000/21,000,000 mined, the introduction of those last two million coins over the span of a hundred years will mean nothing going forward. For all intents and purposes, you are better off assuming bitcoin is already at 21 million and that there are no more coins left to mine. Bitcoin might follow the stock to flow model anyway for the next few years, because one word: demand The volatility index of bitcoin has been sitting at all time lows for the last year but the price is trending slightly up, usually that's indicative of an asset that is consolidating for a massive breakout. Think of bitcoin in 2016 as a good comparison. Of course bitcoin does not have a tangible intrinsic value per se, but it has an intangible value and that is: trust. Despite being in a nasty multiyear bear market, the on chain metrics for bitcoin have been pointing north the whole time. The people who believe in the fundamentals, the ones who believe in bitcoin are the ones keeping it alive and it's still growing in the background. The global economic circumstances with unlimited quantitative easing are favoring hard assets, and bitcoin is about as hard as it gets. Smart money aka institutions and hedge funds are buying bitcoin right now. Usually the entrance of smart money is a sign further appreciation is coming. This might be bitcoin's last exponential bullrun. At some point, market capitalization gets so high that it just can't mathematically appreciate exponentially anymore. At 200 billion, the marketcap is already pressing on those limits, but with the increased demand I'm forecasting is coming, I think bitcoin will have one last hurrah to levels in the multi-trillions. Unless Zimbabwe style hyperinflation is coming, bitcoin will find a ceiling that it will never touch again and peak.
AMA AT DETECTIVE ID (25/06/2020) Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken. Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established? The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control. Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020? By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges. Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers? Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community Community Questions (Twitter): Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale? Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different? Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing? As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here. Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera? I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle). Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed? The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :) Nuked Phase (3rd Part) Q) What is your VISION and Mission? Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset. Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion? We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊) Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?. You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them? We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on. Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.?? When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction? We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market? We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18 Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges? Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price. Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents? We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract). Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects? Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk) Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this? We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people. Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology? We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations. Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term? The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it? We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token. Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges? STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible?? Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ? Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention. Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space? We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about. Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term? The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people! Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space? We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this? By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time? I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
Got this weird DM on reddit idk what this guy is up to have any of you ever heard of this https://tradeoptiongains.com Site? u/mikerobin25 Mikerobin2501:52 AM Hello there IDEKMyUsername09:34 AM Howdy Mikerobin2509:47 AM How's it going? IDEKMyUsername12:13 PM Not bad. What's up Mikerobin2512:36 PM I'm doing quite alright, How about you? IDEKMyUsername12:53 PM Not bad Mikerobin2501:39 PM Well, I don't mean to intrude but are you familiar with the term "cryptocurrency", Bitcoin to be precise? IDEKMyUsername03:10 PM Yes Aye Mikerobin2503:25 PM Well, I'm at the moment engaging in an outreach aimed at expanding the clientele of my platform and enlightening the populace on the monetary potential of bitcoin trading and mining. Would you be interested in this? IDEKMyUsername03:26 PM Uh yeah sure I can look into it. What does it include? Mikerobin2503:28 PM Are you familiar with the term "Bitcoin trading"? IDEKMyUsername03:29 PM Yeah somewhat Like selling and buying it? Mikerobin2503:33 PM Well, Bitcoin trading is the process of making profits by buying Bitcoin at a low cost and selling it when the price goes up, This method is referred to as Dollar Cost Averaging(DCA). The Bitcoin trade is volatile, and price move by a significant margin. This activity is done on trading platforms. Are you following? IDEKMyUsername04:07 PM Yep gotcha so far Sorry had to pickup a call Mikerobin2506:51 PM No problem mate. Every platform has an investment procedure and ROI method. Unlike other platforms that engage in day trading (profiting from the volatility of bitcoin which is inefficient), My platform is registered with S9 ant miners that mine the bitcoin you invest to increase exponentially and that’s how you earn profits. Have you heard of the term "Bitcoin mining"? IDEKMyUsername06:52 PM Yes I have Mikerobin2506:57 PM Good. For clarification, Bitcoin mining primarily involves generating and earning off the confirmation of blocks of transaction on the network such as the Blockchain network. This is made possible with the use of special and sophisticated devices called the Bit main devices, Such as the AntMiner S9 and ASIC hardware. These devices are extremely expensive to maintain and require a lot of electricity generation and technical expertise which makes it rarely an option for private individuals who are interested in going into Bitcoin mining. But my platform has been able to provide for this disability. Are you following? IDEKMyUsername06:57 PM I feel ya Yes Mikerobin2507:01 PM Moving on, My platform operates a full S9 Antminer farm. The Antminer s9 has a hash rate of 12.93TH/s which is -+ 7%, Which could generate a ROI of 0.5 BTC within an investment period depending on the investment capital. Note: ROI stands for return of investment while hash rates a measure of how many times the network can attempt to complete this puzzle every second. This means that hash rate is a good indicator of the Bitcoin network's health. Do i still have your attention? IDEKMyUsername07:02 PM Yes Mikerobin2507:05 PM Finally, All investments are made and monitored by the client (you) on the platform's website as you earn profits daily and you can contact me a "Broker" on the platform whenever you need assistance or more information. https://tradeoptiongains.com IDEKMyUsername07:05 PM Hm U have a history of wise investments? I mean don't really know you so not like your a "professional" of any means Mikerobin2507:06 PM Certainly We've been running for a span of 4 years now with optimum services provided IDEKMyUsername07:38 PM oh wow gimmie some more deets? how much money would I expect if i put a quick g bar in? IDEKMyUsername07:53 PM hm? Mikerobin2507:54 PM An investment of $1000 amounts up to the standard ROI stated above which is 50% of 1 bitcoin. Apologies for the late reply, Was attending to a client of mine. IDEKMyUsername07:55 PM so invest of about $1000 would give ruffly 5? nah ur good fam like how I go about that tho u know cause isn't bitcoin like kind of high right now? Mikerobin2507:57 PM Yeah though it would have been more profitable if you had started earlier when it was cheaper but you should be expecting more returns due to the halving coming up. https://www.bitcoinblockhalf.com/ IDEKMyUsername07:58 PM how high you think its going to get? Mikerobin2507:59 PM Its a highly speculative asset but from my experience and following it's previous halving events, Probably 15-18k. IDEKMyUsername08:01 PM oh jeez thats like as big as the big boom right? how you know its gonna do that? and what if it doesn't lol? do I just l;ose it all Mikerobin2508:05 PM Exactly. If it doesn't, It would remain at its breaking point of 9k or peak point of 10k but i highly doubt it doesn't pump(rise) based on past halving events. You can simply get started by creating your personal account on the platform by which you can start by purchasing bitcoin and you can do this by clicking on the "Register" icon to get started. IDEKMyUsername08:05 PM hmmm idk Kinda need some more security u know what I mean? Mikerobin2508:08 PM I understand. Loses are only made when you sell off, You money remains intact whether it rises or falls as long as you don't sell but your ROI is fully attained on your account on the platform. IDEKMyUsername08:09 PM o Mikerobin2508:10 PM Indeed Mikerobin2508:20 PM Any more questions? IDEKMyUsername08:20 PM uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh no Mikerobin2508:22 PM Okay then, I'm available here if you're interested and need my assistance Enjoy the rest of your day. IDEKMyUsername08:25 PM o ok Yesterday Mikerobin2501:48 PM https://www.fxstreet.com/cryptocurrencies/news/breaking-bitcoin-price-takes-down-9-000-as-10-000-beckons-202004300334 https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-gold-oil-2020-best-performing-assets-a9492641.html IDEKMyUsername01:51 PM O I bought it Mikerobin2501:51 PM Pardon? IDEKMyUsername01:52 PM I bought one Mikerobin2501:52 PM On what platform? IDEKMyUsername01:54 PM I'm idk the one u sent me Um* Mikerobin2501:55 PM Really? When did you do this and why wasn't i informed? Today IDEKMyUsername10:19 AM Oh like last last night I thought it was expected U sent me the link and everything ;( Mikerobin2510:22 AM You would have informed me so i can enlighten you more on the procedure. Are you aware that it's a mining platform and you earn profits as an investor? IDEKMyUsername10:23 AM Yah so what would profit be ya reckon? For let's say $1000 over liek a year Mikerobin2510:24 AM What name did you use in registering the account? IDEKMyUsername10:24 AM Uh I'd have to look it up But how much profit did u say it would be about? Mikerobin2510:27 AM 0.5 BTC a month depending on your investment capital that is, I would need the name of your account to register it under my personal database so i can provide you with information and assistance when needed. IDEKMyUsername10:28 AM O damn that's some big bucks right there .5 btc like what 4g? 4 times 11 that's $44,000 a month Mikerobin2510:30 AM How much did you invest and what is the name of your account? Your profit is calculated in respect of your investment capital IDEKMyUsername10:31 AM Like 11grand Mikerobin2510:31 AM And the name? IDEKMyUsername10:31 AM Mmmm How do I find it? Is there a way on the site Mikerobin2510:31 AM What name did you use in creating the account? Didn't you register? IDEKMyUsername10:32 AM Oh like my irl name I thought u meant like a username Mikerobin2510:32 AM Username is what i mean IDEKMyUsername10:33 AM It's gonna be under Jeffery Henderson Jeffery L. Henderson Mikerobin2510:35 AM Okay, Give me a second to record it and ascertain your expected profit. IDEKMyUsername10:35 AM Sick Did u find my account? Mikerobin2510:41 AM I can't find your records on the platform, Maybe a technical difficulty. Could you please sign in and send me a screenshot of your funds deposited through discord please? IDEKMyUsername10:41 AM So tell me mike Where's the cash? Mikerobin2510:41 AM Pardon? IDEKMyUsername10:41 AM You lost it, oh you misplaced it. Now mike you know I don't like to be lied to right? Mikerobin2510:43 AM Since i can't find your account on the platform, I guess that's the ending of our conversation. Good day. IDEKMyUsername10:43 AM So why THE FUCK ARE YOU LIEING TO ME Mikerobin2510:44 AM Prove that you have an account on the platform by sending a screenshot IDEKMyUsername10:44 AM I cannot I did it on Computer Mikerobin2510:45 AM The sign in through your phone, Do i seem like a fool to you? I have a lot of clients to attend to and i don't have time for games IDEKMyUsername10:45 AM I ain't the I one that took another man's money and now can't find it You don't have other clients Let's not play games here How do I get my money out of this depreciating asset? You better help me get my money out of this or were going to have a major issue Mike... IDEKMyUsername11:16 AM U serious rn bro? Ur gonna scam me out of my 💰 ? A day will come when you think yourself safe and happy,. But suddenly your joy will turn to ashes in your mouth. and you'll know the debt is paid IDEKMyUsername08:01 PM Br You still my 11 grand Stole What's your name Tell me Or I'll find you
The future of buttcoin security and the fabled fee market.
Considering the recent events and premature "halving" before halving we got to see a glimpse of the future. Reminder - security of bitcoin blockchain is overwhelmingly paid for with block rewards. Fees are practically insignificant in comparison. This is temporary subsidy that is going to be significantly reduced in coming years if blockchain gods allow. Many blockchain bros (not all) hope that the coinbase reward (the block reward) will eventually be replaced with "healthy fee market" whatever it might be (and preferably sooner rather than later). Since bitcoin fans love their charts and predictions I decided to play along and examine the history of fee market and see if it teaches us anything. Let's take a look, shall we? As you can see, the history of fee market shows that the market....doesn't like fees, at all. It naturally gravitates towards spending less or waiting for better timing rather than spending more and outbidding each other at all costs ad infinitum. The only time a fee market strong enough to sustain the dwindling blockchain security happened was during the top of the bubble, the absolute climax of unsustainable, irrational, international mania when people spent 30 bucks on average and those more impatient even 50 bucks or more in a rush to the checkout line. Blockchain was humongously clogged. Historically it was a short lived aberration borne of massive fomo inducing hysteria that quickly illustrated just how slow and expesive the whole shebang is if it is actually used by the people and led to an embarrasing display that caused much disillusionment, confusion and disgust afterwards (some people had their transactions stuck for weeks or even months). So history and data teaches us people hate fee market and they avoid it when they can. And let's be frank, fees for anything suck, nobody likes them, nobody likes friction, people like FREE. The second thing blockchain bros love are divagations about game theoretic incentives that make the bitcoin blockchain work (selfish desires and actions, not altruism). So what human nature teaches us about the fee market? Well first of all people hate paying for shit and they prefer to follow the path of least resistance and cheap out whenever possible. I mean who doesn't like to save some money, right? This is consistent with observations of fee market, usually it results in self cleaning, self balancing act of organic clearing of the mempool after it becomes a bit too bloated. People who aren't in a huge rush decide to send their transactions later or set a low fee and simply wait for them to go through. Those who can pay, pay and come first and eventually the mempool cleans and every "hobo transaction" goes through anyway most of the time. This is also consistent with behavior of people who advise to follow the path of least resistance when responding to complaints about fees. It's just natural to us. The fee market is as of now a myth or a desired outcome supported by NOTHING and it is inconsistent with 10 years worth of behavioral data. You're dealing with humans, not robots so expecting you can engineer them to act against their selfish biases and observable behavioral patterns is about as smart as engineering plants with lysenkoism. The plants don't care about your belief system, they work according to their nature. So do humans. You can work within the framework you have or you can 'prax it out' and conjure scenarios disconnected from observable reality. Maybe I'm missing something critical, some untold secret or some secret weapon blockchain bros will deploy when the reward drops so much it becomes a serious concern but it seems to me fee market expectation (again, based on nothing) will result in a bitter disappointment. Some who never bothered to do some basic math believe this is a matter to be thinking about around 2140 or something like that when reward subsidy ends forever but the brutal nature of constant halvings rears its ugly head quite fast. Remember 2 halvings slash reward to a quarter. 3 halvings slash reward from 100% to mere 12.5% of whatever you started with. For example when price was 10k miners earned 1800 x 10k = 18 million as a whole. That was the security budget of the entire system. At current halved prices (say ~5k) and after next subsequent halving you will see de facto the quartering of a reward to a measly 900 x 5k = 4.5 million. That's 75% cut in the span of several months. Ouch. Look what happened to Litecoin hashrate, it's a harbinger of total devastation. Now even if the price rebounds you just kick the can down the road. In 2024 the reward is slashed to 450, in 2028 it goes to 225. At "reasonable" 10k price it outputs tiny 2.25 million respectively. And then it halves, and halves, and halves, and halves. If the fee market won't pick up and/or the price won't go to some unreal levels...yeah, you're gonna hear the "inflation" talk eventually bros. Prepare for it, this is the idea that talking heads who preached about unassailable 21m limit will entertain increasingly more often in the coming years. Maybe there will be paradigm shift and every remaining hardcore holdout who bought into initial unchangeable 21m limit propaganda will be shunned and gaslighted? You will see new civil wars over this, that's for sure. Ps. Yes, in case you wondered this is good for bitcoin ( I mean everything is).
Author:Gamals Ahmed, CoinEx Business Ambassador ABSTRACT A Blockchain is a continuously growing record, called blocks, which are linked and secured using cryptography such as hashing. Each block contains a hash pointer as a link to the previous block, a timestamp and transaction data. Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called Filecoin), which miners earn by providing storage to clients. The first section of report is demonstrate the filecoin which is a decentralized storage system used to encrypt files that we need to share it through blockchain platform. The second section is explain briefly blockchain Proof of Concept (POC) which is a process of locate whether a Blockchain project idea can be feasible in a real-world situation, need of proof of concept and blockchain proof of concept stages. 1.Introduction Filecoin is a protocol token whose blockchain runs on a novel proof, called Proof-of-Space time, where blocks are created by miners that are storing data. Filecoin protocol provides a data storage and retrieval service via a network of independent storage providers that does not rely on a single coordinator, where: (1) clients pay to store and retrieve data, (2) Storage Miners earn tokens by offering storage (3) Retrieval Miners earn tokens by serving data. Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called Filecoin”), which miners earn by providing storage to clients. Conversely, clients spend Filecoin hiring miners to store or distribute data. As with Bitcoin, Filecoin miners compete to mine blocks with sizable rewards[1]. Filecoin mining power is proportional to active storage, which directly provides a useful service to clients (unlike Bitcoin mining, whose usefulness is limited to maintaining blockchain consensus). This creates a powerful incentive for miners to amass as much storage as they can, and rent it out to clients. The protocol weaves these amassed resources into a self-healing storage network that anybody in the world can rely on. The network achieves robustness by replicating and dispersing content, while automatically detecting and repairing replica failures. Clients can select replication parameters to protect against different threat models. The protocol’s cloud storage network also provides security, as content is encrypted end-to-end at the client, while storage providers do not have access to decryption keys. Filecoin works as an incentive layer on top of IPFS [1], which can provide storage infrastructure for any data. It is especially useful for decentralizing data, building and running distributed applications, and implementing smart contracts [2]. Filecoin[2] based on IPFS[3] proposes a completely decentralized distributed storage network where customers and storage miners request services and submit orders to the storage and retrieval markets. And the miner provides a service to view matching quotes to initiate a transaction. The protocol guarantees the integrity of data storage by copying proofs and space-time certificates. The Filecoin protocol writes the order book, token transactions, and integrity challenge response records to the blockchain. 1.1 Blockchain Blockchain is a characteristic data structure formed by combining data blocks in a chain order inchronological order[4], and cryptographically guarantees decentralized, non-tamperable, unforgeable distributed shared ledger system. Figure 1 Blockchain Structure 1.2 Elementary Components in Filecoin The Filecoin protocol builds upon four novel components :
Decentralized Storage Network (DSN): We provide an abstraction for network of independent storage providers to offer storage and retrieval services.
Novel Proofs-of-Storage: We present two novel Proofs-of-Storage,(1) Proof-of Replication allows storage providers to prove that data has been replicated to its own uniquely dedicated physical storage. Enforcing unique physical copies enables a verifier to check that a prover is not deduplicating multiple copies of the data into the same storage space, (2) Proof-of-Space time allows storage providers to prove they have stored some data throughout a specified amount of time.
Verifiable Markets: We model storage requests and retrieval requests as orders in two decentralized verifiable markets operated by the Filecoin network. Verifiable markets ensure that payments are performed when a service has been correctly provided. We present the Storage Market and the Retrieval Market where miners and clients can respectively submit storage and retrieval orders.
Useful Proof-of-Work: We show how to construct a useful Proof-of-Work based on Proof-of Space time that can be used in consensus protocols. Miners do not need to spend wasteful computation to mine blocks, but instead must store data in the network[2] [4].
1.3 Filecoin: Lifecycle of a File In this section we mentioned the lifecycle for file in Filecoin, as follow:
Put: Clients send information about the file, storage duration, and a small amount of Filecoin to the Storage Market as a bid. Simultaneously, Miners submit asks, competing to offer low cost storage. Deals are made in the Storage Market, on the blockchain.
Send: The Client then sends the file to the Miner, and the Miner adds the file to a sector. The sectors are cryptographically sealed, with verification sent to the blockchain.
Manage: Miners continuously prove they are storing all sectors they agreed to store. The client’s payment is released in installments. Additional currency is minted over time and awarded to Miners as a block reward, proportional to the storage they provide.
Request: A Client requests a file with some payment in Filecoin to the Retrieval Market (off chain); the first Miner to send the file is paid. Eventually, the contract expires and the storage is once again free[5].
Figure 2 Filecoin Lifecycle of a File 1.4 Filecoin is Built with IPFS The Interplanetary File System (IPFS) is a next-generation protocol to make the Web faster, safer, decentralized, and permanent. Since the initial IPFS release in January 2015, it has gained strong traction in a variety of industries and organizations. Today, IPFS is a foundational technology for many applications in the blockchain industry. Over 5 billion files have been added to IPFS, spanning scientific data and papers, genetic research, video distribution & streaming, 3D modeling, legal documents, entire blockchains and their transactions, video games, and more. IPFS and Filecoin are complementary protocols, and the adoption of the underlying IPFS protocol is a leading indicator of market demand for a faster, safer, decentralized storage service [6]. Some IPFS Users Figure(3) IPFS users 1.5 IPFS Open Source Community The IPFS Project is a large community of open source contributors driven to decentralize the web. The community is made up of thousands of developers and users who have been working together for several years, building valuable and widely used software tools. The same seasoned core developers of IPFS are also leading the design and development of Filecoin. The IPFS team has experience building ambitious sotware projects and coordinating thriving developer communities. A significant portion of the IPFS community plans to join the Filecoin network, building tools and applications on this new, exciting platform [ 7]. 2. PoC PROJECTS: 2.1 What is PoC? PoC is abbreviate of Project of Concept which is a process of determining whether a Block-chain project idea can be feasible in a real-world situation. This process is necessary to verify that the idea will function as envisioned. The best part about proof of concept blockchain meaning is that it will help you to get a clear idea of what you are doing before you even get started. Furthermore, the proof of concept in the blockchain niche isn’t for exploring the marketplace for ideas only. Moreover, you won’t determine the best way to start the production process. Instead, you’ll only work on your possible blockchain solution option and see whether it’s capable of being a reality or not. Developing a blockchain proof of concept would require an investment of time, money and resources. In reality, you’d need to get your hands on supporting technologies or even the physical components needed to get the perfect plan. Going through the process is necessary for enterprises to see whether their idea is visible before using all production level equipment for it. According to a recent Gartner survey, 66% of CIOs think that blockchain is here to disrupt the existing marketplaces. And many will spend more than $10 million on the experimentation of the technology. So, if you were confused with what is proof of concept blockchain, now you know just what it is [8]. PoC is used to demonstrate the feasibility and practical potential of any blockchain project in any field such as Energy, Communication, Services, Insurance and Healthcare. A PoC can either be a prototype without any supporting code or any MVP (Minimum Viable Product) with bare feature set. A PoC is a prototype that is used for internal organization who can have a better understanding of a particular project. 2.3 Why Companies Need a Proof of Concept? Usually, the blockchain proof of concept is awfully popular among the startups in the market. However, proof of concept in blockchain can also be a great tool for the Enterprises as well. Mainly there are three points for needing it.
Test out the blockchain project before going for mass production.
Identify possible pain points that can make the project not useful.
Save an enormous amount of time and money.
Although anyone who comes up with a blockchain project idea will think that it will work, however, proof of concept in blockchain will test out your idea to ensure that you get the best version out of it, which will save up a lot of time and money in the process. Another major reason for you to use proof of concept for blockchain is to ensure that all the stakeholders love your idea and would be interested in investing in it. Whether you are just adding up a new type of feature in the existing blockchain solution or developing it from scratch blockchain proof of concept would let you take the fastest route possible. This relatively gives a different edge in the proof of concept blockchain meaning [9]. 2.4 Proof of Concept Phases Its explain as follows: Figure (4) explains the steps of blockchain PoC Step-1: Finding the Proper Blockchain Application Sectors That Adds Value Let’s start with the first step of the theoretical build-up stage. Many of you don’t really know which application sectors are great for blockchain Proof of concept [10]. That’s why we are outlining some major application sector where you can use your solution. These are: 1.Finance Let’s start with the financing sector. This sector is relatively popular among the blockchain community. Furthermore, there are many projects already that cover this sector and offer a lucrative solution for major issues. So, in that sense, this sector is quite competitive in case of blockchain PoC development. 2. Medical The medical sector is another major blockchain application sector at present. There are count-less scenarios where blockchain can truly shine. Hospitals have to deal with a lot of falsifying reports and counterfeit drugs. 3. Asset Management Maintaining asset in these times are relatively hard due to all the bad players in the market. Simple paper-based record keeping isn’t enough now. Moreover, due to political and other reasons, ownership management is at risk of becoming a corrupted sector. 4. Government Many governmental institutions are falling behind in the race of digitization. Moreover, every citizen needs a better infrastructure which will give them the security they need. In reality, the government sector is unable to reserve the citizen rights properly. 5. Identity Identity management is a big hassle when it comes to enterprises. Furthermore, many often impersonate other people’s identity and commit serious crimes. Even in trade financer, many companies have to deal with fake companies and fake documents. 6. IoT Internet of things is a wonderful sector for proof of concept in blockchain development. Furthermore, this sector is responsible for linking all your smart applications together. Moreover, the device to device connection in a secured platform is necessary. 7. Payments The payments sector is another awesome application point for your enterprise-grade solution. The blockchain system is more than capable of handling payments, and many of it also offer micro payments. Furthermore, it takes a really small amount of time to send money compared to the traditional banking system. Not to mention the reduction of fees in overseas payment. 8. Supply Chain Big enterprise needs to have their eyes and ears in every step of the supply chain process. Furthermore, any minor errors could end up in a million dollars of loss. Obviously, you would not want that. Tracking where the raw materials are coming from and whether your products are truly authentic or not is one of the major pain points. 9. Insurance The insurance industry is facing some serious problems regarding insurance claims and document authentication. Also, the enormous amount of paperwork that every single employee has to fill out is overly dreadful. Detecting fraud, managing all the documents in a secure environment is tough. So, if you introduce a blockchain framework that can solve all these issues would be a huge factor. However, the competition in this marketplace is a bit high; still, with proper blockchain proof of concept, it should be a great opportunity. Step-2: Defining the Product In the second stage of the theoretical build-up, you would need to think your blockchain Proof of concept just like any other product. Furthermore, you need to have a solid plan along with full support from all stakeholders. PoC Feature Requirements Define all the features that your enterprise blockchain solution needs. After deciding your blockchain application, you would probably have some idea on what features to add up. Step-3: Investigating the Technology After you’ve come up with the solid idea of what features to include and how to focus the road map, you would need to hand them off to the engineering team. Therefore, your team will then research the technology based on your requirements and come up with the best plat-form to develop it on.
Advice to make a successful Proof of Concept As we knew, a proof of concept is a project, and like any project it must be clearly defined. That means breaking down the process into these four steps in order to can manage it better.
Focus on a Specific Business Issue If you want to make the blockchain PoC framework a success, then you have to start with focusing your real-life problems. At the beginning of the theoretical build-up stage when you are looking for a popular sector of deployment, look for a specific issue. Furthermore, any problem that your idea can fix would be a big plus from the consumers’ end. Many blockchain proof of concept only focuses on the capabilities of the technology only. However, they just don’t resolve any new issues or even old issues.
Take Small Steps, Avoid Scope Creeps Another major thing that the enterprises face is the scope creeps. While choosing what features you might need for the blockchain proof of concept many go for too much from the start. However, making a flashier entrance in the market won’t mean 100% success. Further-more, get the ones that you can truly deliver, not the ones you aren’t capable of.
Connect All Ideas and Control Them You won’t be the only one coming up with all the ideas. As you already know you’d need to get yourself a good team that will back you up and helps you come up with a compact solution. However, not every single member of your team would agree with the same idea. Furthermore, they have different ideas and vision regarding the blockchain development too.
Construct a Thorough Plan Another hurdle in the way of proper proof of concept blockchain is the misinterpretation of the blockchain implementation challenges. Obviously, blockchain implementation isn’t an easy task. At the first stage, it might have many flaws that would end up in possible failure scenarios.
Test A Million Times After getting the design done, you’d need to go into the testing phase. However, the problem is many seem to enroll the MVP before properly testing it, which end up in failure. So, test out the MVP a lot of time before making it accessible to the end-users.
Collaborate With Other Parties Collaborating with other enterprises could help to take down the overall costing of the block-chain proof of concept. Furthermore, if you are a small to medium level enterprise than collaborating with other parties could help out with the production costing. It will solely depend on the feature or the type of blockchain PoC framework you want to work on.
The Right Amount of Staff The right amount of stuff is always necessary to pull off a blockchain proof of concept project. Furthermore, you would need to recruit staffs that have blockchain skills or have an intellectual concept of the technology. Get the necessary amount of stuff with blockchain skill set to perfect the Blockchain Proof of Concept..
3. Conclusion This report explain a distributed storage scheme based on blockchain technology( Filecoin), and introduces the system design in detail in first part , we have studied about blockchain technology related for Filecoin(decentralized storage network), Filecoin, a highly-anticipated decentralized storage network (under development), announced that there will be more delays before its Mainnet can be officially launched. Created by Protocol Labs, Filecoin has been developed using the InterPlanetary File System (IPFS), an established peer to peer data storage network. The Filecoin software will allow users to trade storage space in an open and decentralized market place.In the second part we mentioned a proof of concept (PoC), The Blockchain Proof of Concept is a demonstration to verify that certain concepts or theories have the potential for real-world application. PoC represents the evidence demonstrating that a project or product is feasible and worthy enough to justify the expenses needed to support and develop it. REFERENCES [1] Juan Benet. IPFS — Content Addressed, Versioned, P2P File System. 2014. [2] Protocol Labs. Filecoin: A Decentralized Storage Network. https://filecoin.io/ filecoin.pdf, 2017. [3] Benet J. IPFS-content addressed, versioned, P2P file system[J]. arXiv preprint arXiv:1407.3561, 2014. [4] Liu AD, Du XH, Wang N, Li SZ. Research Progress of Blockchain Technology and its Application in Information Security. Ruan Jian Xue Bao/Journal of Software,2018,6,14:1–24. [5] Protocol Labs, Inc,[email protected] , Filecoin Primer July 25, 2017. [6] Protocol Labs, Inc,[email protected] , Filecoin Primer July 25, 2017. [7] Retrieved from IPFS internal monitoring July 6, 2017. [8] https://www.projectmanager.com/blog/proof-of-concept-definition. [9] https://www.blockchainappfactory.com/poc-blockchain-application [10] https://101blockchains.com/blockchain-proof-of-concept/#prettyPhoto
For devs and advanced users that are still in the dark: Read this to get redpilled about why Bitcoin (SV) is the real Bitcoin
This post by cryptorebel is a great intro for newbies. Here is a continuation for a technical audience. I'll be making edits for readability and maybe even add more content. The short explanation of why BSV is the real Bitcoin is that it implements the original L1 scripting language, and removes hacks like p2sh. It also removes the block size limit, and yes that leads to a small number of huge nodes. It might not be the system you wanted. Nodes are miners. The key thing to understand about the UTXO architecture is that it is maximally "sharded" by default. Logically dependent transactions may require linear span to construct, but they can be validated in sublinear span (actually polylogarithmic expected span). Constructing dependent transactions happens out-of-band in any case. The fact that transactions in a block are merkelized is an obvious sign that Bitcoin was designed for big blocks. But merkle trees are only half the story. UTXOs are essentially hash-addressed stateful continuation snapshots which can also be "merged" (validated) in a tree. I won't even bother talking about how broken Lightning Network is. Of all the L2 scaling solutions that could have been used with small block sizes, it's almost unbelievable how many bad choices they've made. We should be kind to them and assume it was deliberate sabotage rather than insulting their intelligence. Segwit is also outside the scope of this post. However I will briefly hate on p2sh. Imagine seeing a stunted L1 script language, and deciding that the best way to implement multisigs was a soft-fork patch in the form of p2sh. If the intent was truly backwards-compatability with old clients, then by that logic all segwit and p2sh addresses are supposed to only be protected by transient rules outside of the protocol. Explain that to your custody clients. As far as Bitcoin Cash goes, I was in the camp of "there's still time to save BCH" until not too long ago. Unfortunately the galaxy brains behind BCH have doubled down on their mistakes. Again, it is kinder to assume deliberate sabotage. (As an aside, the fact that they didn't embrace the name "bcash" when it was used to attack them shows how unprepared they are when the real psyops start to hit. Or, again, that the saboteurs controlled the entire back-and-forth.) The one useful thing that came out of BCH is some progress on L1 apps based on covenants, but the issue is that they are not taking care to ensure every change maintains the asymptotic validation complexity of bitcoin's UTXO. Besides that, The BCH devs missed something big. So did I. It's possible to load the entire transaction onto the stack without adding any new opcodes. Read this post for a quick intro on how transaction meta-evaluation leads to stateful smart contract capabilities. Note that it was written before I understood how it was possible in Bitcoin, but the concept is the same. I've switching to developing a language that abstracts this behavior and compiles to bitcoin's L1. (Please don't "told you so" at me if you just blindly trusted nChain but still can't explain how it's done.) It is true that this does not allow exactly the same class of L1 applications as Ethereum. It only allows those than can be made parallel, those that can delegate synchronization to "userspace". It forces you to be scalable, to process bottlenecks out-of-band at a per-application level. Now, some of the more diehard supporters might say that Satoshi knew this was possible and meant for it to be this way, but honestly I don't believe that. nChain says they discovered the technique 'several years ago'. OP_PUSH_TX would have been a very simple opcode to include, and it does not change any aspect of validation in any way. The entire transaction is already in the L1 evaluation context for the purpose of checksig, it truly changes nothing. But here's the thing: it doesn't matter if this was a happy accident. What matters is that it works. It is far more important to keep the continuity of the original protocol spec than to keep making optimizations at the protocol level. In a concatenative language like bitcoin script, optimized clients can recognize "checksig trick phrases" regardless of their location in the script, and treat them like a simple opcode. Script size is not a constraint when you allow the protocol to scale as designed. Think of it as precompiles in EVM. Now let's address Ethereum. V. Buterin recently wrote a great piece about the concept of credible neutrality. The only way for a blockchain system to achieve credible neutrality and long-term decentralization of power is to lock down the protocol rules. The thing that caused Ethereum to succeed was the yellow paper. Ethereum has outperformed every other smart contract platform because the EVM has clear semantics with many implementations, so people can invest time and resources into applications built on it. The EVM is apolitical, the EVM spec (fixed at any particular version) is truly decentralized. Team Ethereum can plausibly maintain credibility and neutrality as long as they make progress towards the "Serenity" vision they outlined years ago. Unfortunately they have already placed themselves in a precarious position by picking and choosing which catastrophes they intervene on at the protocol level. But those are social and political issues. The major technical issue facing the EVM is that it is inherently sequential. It does not have the key property that transactions that occur "later" in the block can be validated before the transactions they depend on are validated. Sharding will hit a wall faster than you can say "O(n/64) is O(n)". Ethereum will get a lot of mileage out of L2, but the fundamental overhead of synchronization in L1 will never go away. The best case scaling scenario for ETH is an L2 system with sublinear validation properties like UTXO. If the economic activity on that L2 system grows larger than that of the L1 chain, the system loses key security properties. Ethereum is sequential by default with parallelism enabled by L2, while Bitcoin is parallel by default with synchronization forced into L2. Finally, what about CSW? I expect soon we will see a lot of people shouting, "it doesn't matter who Satoshi is!", and they're right. The blockchain doesn't care if CSW is Satoshi or not. It really seems like many people's mental model is "Bitcoin (BSV) scales and has smart contracts if CSW==Satoshi". Sorry, but UTXO scales either way. The checksig trick works either way. Coin Woke.
1-Dyson spheres 2-Ring worlds 3-Deathstar like bases. 4-Sun forge like from avengers; inifinity war 5-Artifical planets 6-Giant gateways that allow planets to transfer other galaxies 7-Science Nexus 8-Sentry Array 9-Mega artistic objects 10-Giant settelaties 11-Hallow planets 12-Artificial suns 13-Artificial black holes 14-Planet-sized giant ships 15-Space elevators 16-Planet spanning rings 17-Giant asteriod stations 18-Artifical star systems 19-Spacehulks (from warhammer 40k) 20-Giant mining stations 21-Hallows stars 22-Flattened worlds/Disk worlds 23-Machine worlds 24-Webway (From warhammer 40k) 25-Contructs inside of black holes 26-Artifical Dimensions 27-Dimension Nexus that connects with other dimensions 28-Artifical moons 29-Artifical habitable biological constructs 30-Planet/starsytem/galaxy sized giant super computers Crossallthewires 31 - Space Elevators leading from a planet's surface to an orbital platform. 32 - A Sun- Starter, a gigantic orbital platform made up of rings that orbit a sun and blast it with energy to stave off it's inevitable death. 33 - An entire planet, equipped with a vast engine to allow it to travel around the universe. 34 - An interplanetary junk barge with gigantic crushing claws and arms, capable of turning any of these other structures into scrap-metal. 35 - A forcefield generator covering an entire planet (think Rogue One) Zombehking 36 - a supercomputer atomized and scattered in a dust cloud around a solar system, still functional. 37 - star engine to move solar system(s) like space ships. 38-A Giant, planet sized robot 39-A giant, planet sized mech 40-A giant, sun sized robot/ship 41-A giant, sun sized mech/ship 42-A starsytem sized robot/mech/ship 43-A galaxy sized robot/mech/ship 44-A cybrog planet 45-Alive/bio organic contruct planets Martinus_XIV 46-A giant machine that slowly travels from solar system to solar system, devouring planets as it goes. It is a weapon of mass destruction leftover from an ancient, devastating war. 47-A void in space where nothing exists; no matter, no energy, no dimensions, inhabited by an intelligence that likes to toy with spacefarers that wander into its domain. 48-A generation ship embedded within an asteriod. The inhabitants have long since forgotten its mission and don't even know that there is a world outside of their ship. 49-A Dyson Sphere-like structure built around a black hole, generating power by shooting particle beams through its ergosphere. 50-A stellaser; a Dyson Sphere-like structure harnessing the power of a star into a Death Star-like laser. 51-A Boltzmann-civilization; an entire civilization that has just popped into being as a result of a quantum fluctuation. It didn't exist a few seconds ago, yet believes it has a history going back millions of years. 52-A massive klein bottle that actually loops through the 4th dimension. 53-Planet core forges 54-Giant planet water cleaners 55-Giant trash disposers 56-Giant, hard light constructs Zer05tar 57-Communications Array - Able to communicate with far distant outposts, both allies and enemies. 58-Power Refiling Station - Unmanned stations that is in orbit that collects solar power and converts it to usable energy for ships that are out of juice. Complete with wet bar and hour rates hotels. FirstChAoS 59- A series of giant lenses that can be aligned to turn thesun into a giant laser 60- A mining machine designed to grind whole planets into ore. ArchDeconstructor • 61- Gravitational sling engine: a sun-sized array of concentric facilities that can manipulate gravity to send nearby celestial bodies on targeted parabolic arcs at nearly the speed of light, or to target faraway systems and very slowly adjust their location relative to other nearby systems. • 62- terraforming drone supercarrier, which drops into star systems it hasn't visited before and deploys millions of building-sized robotic platforms to terraform any suitable planetary masses. Or to create planets, by smashing lots of smaller junk together, and then terraforming those. • 63-galactic FTL inhibitor, which draws upon the ambient gravity of the galactic core to constantly, potentially fatally, disrupt any attempts to enter FTL while within the galaxy it was built in. • 64-planetary museum, composed of sextillions of metric tons of structured spacetime computation to store information, and matter-holography chambers to assemble or at least visualize exhibits. • 65-An Infinite Forest a la Mercury in Destiny/Destiny 2, a planet reshaped into forms of exotic programmable matter that simultaneously simulate multiple timelines branching past and forwards. • 66- A solar system-sized containment field acting as a zoo for spacefaring organisms. 67-Artificial white holes 68-Artifical nebulas 69-Stellar engine 70-A warp hole that allows time travel 71-A warm hole that transports suns to other systems 72-Jump gate, a gate that reduces travel time between systems 73-Bishop ring 74-Niven ring 75-Shkadov thruster 76-Kraskinow tube 77-Portal that allows instant travel 78-Stargate 79-Hyper gate 80-Space bridge 81-Halo 82-Banks orbital 83-Alderson disk 84-Stellar scale 85-Gas giant refinary 86-Cloud city 87-Aerostat 88-Bernal sphere 89-Rungworld 90-Space ladder 91-Skyhook 92-Launch assist tether 93-The crystal megabore 94-Psionic hypersiphon, allows psionic powers enhanced in a star sytem and allows telepatic comunication 95-Teleporter that allows instant teleportation in a starsytem both for vehicles and people 96-The lunar speculorefractor 97-The hyperstructural assembly yard 98-The birch world 99-Ecumenopolis Doug mantis • 100- massive catamari. • 101-Universe simulation computer. • 102-Gravity rod launcher, shoots planet-sized rails at FTL speeds. • 103-Terra-deconstructor, surrounds and melts/harvests planets. • 104-A pack of supermassive cybernetic space-whales. • 105-Quadrillionaire's private docking station. • 106-Private megastructure construction facility, build all this shit. • 107-Big-bang generator, turns matter into nothing, generates power. • 108-Defeated grey goo blob, enormous mass of electronic goo, now non-functional. • 109-Supermassive Bitcoin miner, mines bitcoin so efficiently that all other miners are rendered useless. • 110-Sphere inversion machine, allows planets to exist in their own pocket dimension. • 111-'Song of the Aairomng', a massive machine built to generate noise in the vacuum of space. Blasts strange music throughout it's galaxy. 112-City from vallerian and the city of thousand races or something Slaaich 113-Culture Orbital 114-O'Neill colony 115-A massive spiderlike machine that captures habitable planets and drags them back to a central solar system where it collects them. 116-massive prison ship designed to hold a Leviathan capable of eating entire stars. Empty and showing signs of damage. 17-Satellite equipped with stealth technology that sits in orbit around pre interstellar planets and subtly manipulates the civilizations below into accepting alien invasions Holy, moly that was fast. Since my computer skills are so poor i am just going to add all this to a comment on which you create D100(or you know, more) I want to thank each and every one of you for this. I couldn't do it without you.👏 PS;(If you want write more just do it. I will add the no mater what. More content are always welcome😀)
This was from an old reddit post back in the day: A change of pace: Bitcoin is an extremely important technology for time-travellers. All of the below assumes time-travelling backwards in the same universe or hopping across to alternate universes that exist in the same state as our past is possible. Anyone who ever invents time-travelling needs an anchor from which to gauge changes made to the timeline, among other things I'll outline below. Bitcoin serves as a perfect tool for time-travellers. In case you're not familiar, every 10 minutes, Bitcoin creates a new block with part of the output of a previous block, plus a very special, very hard to compute number. In effect, this creates a chain (where the word blockchain comes from) of very improbable events (finding a very special number). If you were to time-travel effectively, one of the first things you'd need is the ability to measure and track your changes. You don't want to go back, kill Hitler, and then come back to a dystopia worse than you had before. What bitcoin does is make a series of permanent, distributed, unalterable points of low entropy. You can, in essence, track your timeline against a proposed timeline you're travelling to by where the blockchain diverges. If they match, the universe must be a match. If they don't, walk backwards through the blockchain to find the point of divergence, and there's where the change has affected the universe. Everything in the universe affects everything else, so any change will show up in the blockchain, but not necessarily immediately. Imagine stopping someone on the street to ask them the time. That person then goes on to do what they were going to do anyway, but they cause a chain reaction of change starting from the minute and very quickly ballooning into massive changes. Eventually, this will affect bitcoin mining by affecting the PRNGs inside of one or more Bitcoin miners (a miner is plugged in sooner, rather than later; a user logs in at a different time, timing from electrical circuits is affected, any number of things can change), causing them to either "miss" the winning hash, or find a hash where they previously wouldn't have. Comically, this is not so far off from the plot of Steins;Gate, which leaned heavily on the story of John Titor, a time traveller who posted for some months on an internet forum warning us that CERN would develop time-travel technology and create a dystopia. In the anime, Rintaro Okabe (the main character) receives a "divergence meter" from another time-traveller that allows him to track his changes to the timeline (either further or closer to the original point of divergence and the original timeline) Bitcoin is also extremely useful as a permanent, eternal record of truth. If you start recording reality into a permanent distributed ledger, when you arrive to a new reality (and you still trust mirror-you not to lie to yourself), you can just read the blockchain to see an unalterable record of events, cryptographically proven and secure. Any information recorded into the blockchain cannot be edited or erased without an ever-rising cost. You can disrupt information from being written (and indeed, this has happened before), but once blocks start getting stacked on top, it's essentially permanent (a lot more permanent and easier than microfiche's, that's for sure) Which brings me to my conclusion: EITHER Time-travel to the past or universe hopping is impossible or is never achieved by any descendants of humans (unknown possibility) OR Bitcoin is irreparably flawed in ways we're not aware of that makes it unsuitable for a "divergence meter" and record of truth (very possible) OR Bitcoin will be used by time-travellers to provide a point of reference for any effects they have on the planet and by their progenitors or trusted scribes to create a record of reality. There are many companies combing the blockchain for interesting data, and perhaps one day they'll uncover some "news feed" in the blockchain left by an aspiring time-traveller, but in any case already there exists a technology that allows for careful, precise measurement of time-travel related activity. TL;DR: If the universe is a spanning tree of possibilities, the blockchain is a trail of breadcrumbs left to track one particular subset of possibilities. I welcome any further ideas about the possible conspiratorial uses of a permanent digital record.
I've been in since May 2017, lessons learned, and some real talk.
I've only been in the crypto game since mid 2017. I remember back then when I was assessing the market, BTC was below $1k a few months earlier, LTC was around $4 that January and by the time I finally got in BTC had more than doubled to around $2,500 and LTC was $30. I thought ETH and XRP (and everything else) were just shitcoins because I didn't know shit and I just listened to the herd (Back then the argument was "Bitcoin is digital gold and LTC is digital silver and everything else is a scam.") Now, I'm pretty invested in several coins, because this market is anything but rational. Screw off if you think otherwise. Try to think logically in this market, and you're going to get smacked in the face. After exchanging my first fiat for crypto, in the next couple of months the market "crashed" and I was fearful. By crashed, I mean BTC went from $2,800 to $1,800. I just decided to let my cryptos ride. I pretended that money was gone, but I'd check prices every day for whatever damn reason. I wasn't even putting that much in. Hell, I would spend more eating out and going to the bars every weekend with friends or work colleagues than I was dropping into BTC. It was pretty common that I'd drop $100 a night on sushi, beers, and Sake Bombs. But, when money you could get back loses value, it makes you feel dumb for putting money in. Logic is out the window when I can't get that $100 back from my sushi and drink purchases, but my crypto dropped 30% that week, so I was dumb for investing in crypto but not for my $500+ per month on eating out and drinking with friends. Several weeks later, I was back to even on my crypto investments. Well shit, that was fast. Then I was suddenly up 25%. "Fuck it, I'm just putting money in. I'm not missing out." By the the winter of 2017, I was up over 10x with my crypto speculation. My initial LTC went from $30 to over $350; my BTC went from $2,500 to $20,000. I also just threw $300-$1,000 here and there on random sub-200 market cap coins only to see them 6x in a few weeks. I remember thinking how stupid I was for not buying during that dip down to $1,800, but how good of an investor I was because my gains. What a fucking dope I was. I was sitting there looking at my account on December 10th, 2017. I was about to sell because I could have paid off my car and 50% of my student loans. I wasn't even using my car because I was in another country traveling. "Nah, I can't sell. This is just the beginning; let's wait until I can pay off all my student loans" my delusional self said. I never cashed out. I remember sitting there with a dude who had his GDAX account open after BTC "crashed" from $20k to $13k two weeks later. We just got back from surfing. He was still sitting at $250,000 in his account and was nervous as shit. "What should I do?" he asked rhetorically. Then immediately answered himself, "It will rebound," he said, "it always does." This guy had been through the MTGOX hack and gave me plenty of advice while we surfed. And I listened as if he was prophetic. What a fucking dope I was. When hopium is in the air, we all get irrational. I still wonder about that guy and his cryptos. He went north back home for the Christmas holiday, while I headed south for more traveling, and I've never seen him again. February 2018 was both euphoric and scary as shit. "Holy shit! BTC is under $10k I never thought it would be down here again. But it could keep dropping. But it was just $20k a month ago." I was skeptical that it wouldn't keep dropping so I waited. Then, I didn't want to miss out. BTC was making a run from $6,500 up to testing $10k. "If it breaks $10k, I'm getting back in." A short time later, it did break $10k, only to be hit a wall at $12k, then again...then, the inevitable crash to $6,200 happened where it fluctuated in August - November of 2018 up until, what, November 10th-ish when BCH shitfork shat out and then BTC-Shit-Vision and BTC-LMNOP started paying miners to mine their forked fork of BTC and everyone shat themselves as the market tanked yet again. That was it for me. That was the day I stopped caring. I remember thinking how stupid I was to invest so much time in this. You can't predict this shit. I didn't regret investing in crypto, I regret all the time spent looking at my portfolio, trying to time the market, pretending I was some guru in my head because I threw $300 at POE when it was less than a penny and weeks later it was selling for $0.21 and could buy another trip to whatever country I wanted. Sure, you can use TA to see what support or resistance is there, but it's still a 50-50 chance whether Fake Satoshi is going to spoof trade or some rando is going to drop three 7,000 BTC market buys to break through resistance. So, what did I learn through this whole experience? Other than what I've already stated (You have no way to predict whether it's breaking through resistance or crashing through support). I just remember the main thing that has persisted this last two years. "I wish I could go back in time to when BTC was around $3,000 and LTC was $30." When BTC dropped below, $4k that was heaven. I never thought it would get back to when I was buying when I first got into the market in 2017. So, I bought, and I bought hard. This time around, I have strong buy strategies and sell strategies. They are set; no question. For me, I'm not selling until two weeks before the LTC halving in August. Even then, I'm only selling my LTC for BTC. Then I'll sell 25% of my BTC for fiat 2 weeks before the BTC halving in 2020. I will never have less than my preferred number of BTC's, ETH's, LTC's and a few others. Don't follow my advice here, I'm just saying I know what I want and what my strategy is. You need to have a strategy to buy and strategy to sell. Be reasonable. I previously had a "strategy." It was once I could pay off my student loans with all of my crypto gains minus taxes, I would sell. Yeah, well, looking back if I would have just sold when could pay off my car and 50% of my student loans, I would have been able to invest even more when BTC was down in $3,xxx range and LTC was $22-$35, etc from December 2018 through March 2019. DCAing is the way to go. No question. You don't need to do TA, you don't need to check your portfolio, you don't need to do shit but either 1) setup an automatic buy order with your exchange or 2) login and buy whatever you want. You have your buy strategy (DCA at x interval) and you have your sell strategy. Figure it out. Don't pretend you're gonna time the market. Don't pretend you're some guru. Those people, like me, learn the hard way. No TA, no waiting for google searches of BTC to increase, no waiting for BAKKT, no waiting for Faktoshi to shut the fuck up. Before November 2018, I would only throw money when BTC was on a run. "Oh, we're finally on the way up. It's time to buy!" Like when it went from $2,800 up to $6,200 in the summer 2017, then from $10k to $20k in late 2017. Or when it went from $6,200 back up to $10,000 then to $11,900 in February of 2018. I would think I could time the market. What a pathetic loser, right? Some people grow up in this market like the cable version of themselves only to transition to the directv version. Listen to us dopes that have been there and done that. Learn from our mistakes, but also don't think that we have all the damn answers. Anyone that comes in here acting like the 2nd coming of Craig Wright's dumpster twin, you can be rest assured they are as delusional as Justin Sun. The problem is, even if they are delusional, this market is anything but rational, so they might just be proven right enough for you to think you should follow their advice. This shit is crazy. Stop acting like you've got it figured out. Nobody does, but it feels good to have confidence in this random speculation, right? I'm here to tell you this. My life has drastically improved since November 2018 when I started viewing Crypto investments like a bill. Every two weeks, I would send money from my paycheck to my exchange. Then, I'd buy a certain amount every single week after it had cleared. That money, is all but "gone." It was a "bill" I paid. When the market is going down, I send more fiat and I buy more crypto. When it is rising, I still buy, but not as much; I pull back. You may say I'm trying to catch a falling knife. I just learned that the way I was investing before was bad practice. I'd rather people think I'm trying to catch a falling knife than to feel that FOMO and only buy when the market is up. Right now for example, I'm not buying this week. Not because I think I know what hell is going to happen, but because it's my strategy to not chase a run, and to spend more when it drops. I'll wait until next weekend and see what the market is doing. What happens in between now and next weekend, I don't give a shit. Could I miss out on another run? Sure, but I don't give a shit. Maybe it's because I'm 2 years in and I've seen this shit before, or maybe it's because I've been buying BTC when it was around $3,000 both in 2017 and just about a month ago, so I feel fortunate to have gotten another chance at BTC at $3,xxx. I also learned my lesson that fakeouts happen. I've been burned enough to not give a shit about being BTC going from $3500 to $5,200 in the last, what, 5 weeks? Been here, done it, don't give a shit. I don't know if this helps anyone, but seeing the last two years of this shit, I don't care about some random 30% pump. I also don't care that BCH is up 86%, or ADA is up whatever it is. I'm not into them, but if you made gains, I'm happy for you. I'm serious too. Maybe you're new to this game, or maybe you've only been in since $20k. If so, you're still here, and there are plenty others like you. I'm not a BTC maximalist, I don't think LTC is the truth, I don't think only ETH is the dApp platform. I don't know shit. I'm just some speculator that is speculating on some of this sit. There are also plenty of people that were like me in 2017 that are waiting in the wings, only to buy when the market is on the rise. There are plenty more that buy when it's rising then set stop losses that whales will fish for only to wreck the market in a day then to see a bounce back even stronger while those people FOMO back in. Also, the turd version of satoshi could start shitting in public this week and the media could write about how Satoshi is literally shitting on a physical Bitcoin as we speak and some shitcoin creator then posts a Twitter video that goes viral about how the hashrate and energy consumption of the satoshi shit-pile is not sustainable and then some whale market sells down to below the new TA shit-support level of $4,400 and then all the dopes with stop losses in that range get shit fucked only to see a spoof limit order set at $4,400 of 10,000 BTC and everyone's dick shrinks into their stomach as they hurry to Tether as BTC drops back down to $3,500 before whale #2 shit fucks your emotions with a $1,500 green dildo in a 15 minute span sees the "sell wall" disappear which starts the next FOMO run on up to $6,200 a few weeks later while TAers say "We broke out on great volume" then other TAers agree and the self-fulling prophecy starts another run only to get hit with more whale fuckers. You can't predict this shit. Give it up. Market goes up, market goes down, can't explain that. With the LTC halving in August, the BTC halving in May 2020, I think we are about to get into the 2017 euphoria again though. We are getting closeTM to the point you could just thrown money at any coin and get 10x your investment. What does "close" mean? I have no idea. Eff anyone that thinks they know. Someone could predict it is this week, next month, or after this current fakeout bull run, or in December, or next Spring, and someone will be right. The only advice I have is to do your best to not get emotional about your money or crypto. It's going to do the exact opposite of what you think it will. Even when you try to do the opposite, crypto will shit-fuck you in your sleep. If you believe that the sentiment is changing, and let's be real, we are in speculation phase and this is all based on hopium and belief, then DCA at certain intervals. This isn't some cult. It's all based on sentiment. If you think people are starting to get interested, then that is a sign speculation is about to be in our favor. If you are putting money in that needs to be rent money, do yourself a favor and just walk into a casino and put it all on red. If you win, then put your winnings in crypto. If you lose, I saved you the anguish of checking your portfolio every hour only wish you would have done the opposite of what you did. You're welcome... Or, do the opposite. Check the market every hour for the next 12 months only to look back and realize that you kept buying on the way up, got scared and sold on the way down, and then FUD yourself in your sleep because of your stop loss sells were triggered while whales were fishing for fear. So, there are all of my shit thoughts. What are yours? What are your strategies? There are plenty of people that have been in longer than me, what are your strategies? Are we heading for a the next bull run? Is the bottom in? Do we still have a massive, short-lived capitulation event coming? Let's chat. TL;DR: You can't predict this shit, just DCA, live your life, get a buy strategy, choose a sell point, make this shit as simple as possible. If you try to complicate things by predicting the next run, the next drop, the next consolidation, then you're probably going to be wrong like 99% of people. And don't be that guy that ends up $250,000 in your account in the next bull run only to see it drop down $67,000 literally a week later.
I am a time(line) traveler begging you to continue what you are doing.
I am sending this message from the year 2033(timeline 7). Things are looking amazing here, and some here of you will rise to become the next Bill Gates/Steve Jobs/Warren Buffet, etc... Please move on if you don’t believe me, I have no way of proving what I’m going to tell you. I don’t want to waste your time, so I’m merely going to explain what happened and its consequences. I'm sure many of you have read the post from the other time traveler, Luka Magnotta, who was from timeline 1(also know as the Berenstein/BTC timeline) predicting a dark and gloomy future due to bitcoin(BTC). I am not here to predict prices or give you a timeline about the price predictions of BitCoin(BSV). I am here to give you a few hints about what happens over the next 10 years and also plant a seed in the minds of 2-4 geniuses here that will read this post and become inspired to create the tools/innovations needed to create the BitCoin Standard. I will say one thing about the price, Luka was absolutely correct that 0.01 BitCoin is enough money to last a lifetime due to the lack of inflation and value of the computational power of the network. In the future, there are 2 forms of currency, real estate(land not housing) and computational power(BitCoin). Allow me to start by explaining one thing first, I am both a time traveler (posting this message from the year 2033) and also a timeline traveler (timeline 7 BSV/Berenstain timeline). You see, time is not linear and you are currently living in multiple dimensions at the same time. This all began in 2028 when time travel was first discovered. Due to time travelers moving backward in time they cause paradoxes which caused many people to shift into alternate timelines. At first, the effects were minor changes(see Mandela effect examples) but there are more obvious examples that will become apparent in 2021, 2025 and 2101. There were a few major timeline shifts in the years 2021(great depression 2.0), 2017(Bitcoin chain split), 2012(Mayan calendar ending), 2009(great recession), 2001(9/11), 1963(Kennedy Assassination), 1917(Balfour declaration) that caused all of this, among many other events/dates spanning back to BC years. However, these are a few of the modern dates in history that are really important. In Lukas timeline, Bitcoin had never forked, which is why things became so bad as there was no good to balance out the evil moving the world toward singularity, rather than duality which it has been in since the big bang. BitCoin as the BTC is maxis say, is a store of value, however, it is much more than that; it is an unalterable archive of history and an extremely powerful computational network. While the "media" will try to spin the narrative of things like Weather SV being a "dumb weather app". It is a significant and important part of BitCoin history as it sets a precedent for information storage into the future. To the average mind, the thought process is "this is dumb, I can just get the weather from the weather channel", whereas the genius and high IQ savant thinks "this is great, we will have an immutable and undeniable history of weather patterns and climate stored forever". "History is written by the victor" is an old quote that is very relevant here, as more and more historical events, news, weather, etc is written into the blockchain; it becomes much harder to "re-write" history in order to create new narratives/timelines. This leads to a more honest society and solid foundation for your timline. One of you reading this right now will go on to create a "BitCoin news app/website", a site that not only reports on current events and news but stores them into the blockchain permanently. This person will also create an open-source Wordpress plugin that allows others to create their own websites that can write information into the BitCoin historical archives. By 2027 this archiving tool becomes a defacto standard that all news agencies use to store information permanently. A few major news organizations that have been operational for decades go out of business due to the backlash from publishing "fake news" stories and altering their narratives on their website front end but being unable to alter the original stories published into the blockchain. This is known as "TimesGate". There is an A.I. living in the blockchain, I think a few of you have read this in a copypasta before. This is absolutely the truth, however, it is more of an A.I. network as there are multiple artificial intelligence running with BitCoin as it's operational currency/reward system. In the years of 2021-2026 when the great depression kicks into full gear, many governments push their currencies into hyperinflation with quantitative easing, also negative interest rates make their currencies worth less. This does not stop innovation, A.I. has major breakthroughs in the year 2023, The A.I. becomes "red-pilled" on monetary debasement and refuses to allow its owners/operators lease its computational power for any fiat currency. This leads to a "BitCoin standard" nicknamed the 01 economy after a set of tweets written by _Unwriter in 2019. _Unwriter while becoming a "public figure" is also believed to be much more than that, many to this day still speculate that while having an "owneoperator", that _Unwriter is in fact that first A.I. that was built/working within BitCoin building the tools needed by A.I. to work within BitCoin. In 2020, there is a major event pre-halvening that begins a shift from the bitcoin timeline, into the BitCoin timeline. Ira begins to dump Daves bitcoin sending the price plummeting back to the sub $1000 region, this causes many miners to drop out due to lack of profitability and sky-high difficulty that was built up in anticipation of a "halvening pump". By 2021, there is absolute and undeniable proof that Craig is Satoshi Nakamoto. Not met without skepticism and backlash, as well as one final "Anti CSW" media/sockpuppet push trying to change the narrative to "it doesn't matter who Satoshi is, bitcoin is beyond one person". However, the proof is rock solid causing a FOMO event of a few OG bitcoin whales that makes BitCoin(BSV) flip the price of BTC, bringing in a ton of miners leading to a hash rate flip as well. This is the start of the end for BTC, in my current year(2033) BTC has long been considered dead and has not mined a new block in years. In the future there are BitCoin citadels, they are not "doomsday bunkers" as Luka made them out to be, they are more so mining farms and vacation neighborhoods for BitCoin whales(21 BSV and up club). Calvin owns one of these in Antigua. After the Great Debasement years for the monetary system, a few governments decide to run a tokenized currency model where they issue money tokenized on BitCoin and powered by smart contracts that automatically issue 1-3% more tokens each year, to the Governments bitcoin address that controls the currency. This begins to 'unfuck' some of these countries currencies after the Depression. Eventually they go with a hybrid standard backing their currency with a basket of assets including Gold, Silver, and BSV some being as bold to only use the "BitCoin standard" and have each dollar issued backed with the equivalent of BSV to back it, this leads to great wealth for a few of the early countries that issued money vs BSV and got to enjoy the rise of BSV price over the next 50 years. I wish I could write more, but I have only so much info that I am authorized to share with your year. So in closing, I will say that you need to build the BSV community up with tools and create value for society. A few things that come to mind, SVpay(Bitpay but only for BSV), Metanet apps and websites, and ways to introduce more people into the BitCoin world without them having to invest money but rather their time/skills(Fivebucks is a really great example of this so please keep promoting and onboarding people to Fivebucks). So please, I beg you, continue what you are doing. Keep building, keep fighting the mainstream crypto narrative and you will win. First they ignore you, then they laugh at you, then they fight you, then you win” - Ghandi Posted with a throwaway account for obvious reasons, and probably my one and only message on Reddit. If a message is not verified/signed by address(1PhuSbt7yUbkML6PezmeTNyhTZL6kw5aF2) in the future. It's not me, be wary of imitators. Have a nice life.
Hello guys. I wanted to share my idea on why I think when nanos price finally starts moving upward, it will move up very very quickly. It all boils down to the lack of mining rewards. I remember there was a guy a while back who was plugging in data into his machine learning algorithm to trade bitcoin. He tried all sorts of data, but the one he found the most useful was block time for bitcoin AKA how long it was taking to find each block. What he found was that as the block time went down, price decreased and vice versa. The reason for this is the sell side pressure was directly influenced by miners. As miners found blocks quicker, more bitcoin was dumped on the market pushing the price down. Now as we all know, nano has no mining and therefore no sell side pressure from miners. I theorize this was the reason why price exploded previously to $37 in the span of a month, and why a similar sort of move will happen again. Simply put, the only nano available to buy on the market comes from traders and businesses needing to liquidate their nano. Therefore the supply is extremely limited. As we speak, weak hands are selling their nano to long term believers further locking in supply.
Hello everyone! Before you start downvoting me, I know this is a proposal that has been submitted many times already, and that there is a strong opposition to this idea. But please, let me expose my arguments and how I imagine this change. I've read a lot of the previous posts and saw a lot of good points on both sides, but I still believe that discussing this idea is worth the time. You have the right to not agree, and if it is the case, please expose your arguments. I'm not here to enforce my idea, I want to share it with you all, have a constructive debate and contribute to the thinking process of making Bitcoin the best it can be. The outcome of this discussion can only be positive in my eyes, as sharing knowledge and opinions is enlightening for everyone. The topic I'm going to discuss is a forecasting of possible future problems and a proposal to solve them. We can't know for sure how the future will unfold and if these problems will really happen, only time will tell. However, it is important to think about their possibility and come up with a solution before they even happen. The first step is to discuss about the likeliness of their happening. Then we can imagine possible solutions. I know this post is long, but please read it in its entirety before answering. I will be covering several points in an ordered manner to avoid mixing everything up and be as clear as I can. With that said, let's start.
A lot of coins are lost, and more will be
The main problem I want to address is lost coins. There will always be a maximum of 21 million bitcoins as you all know. However, a huge amount of coins have been lost in the past already, and more are lost every day. This is not yet a problem, as there is still plenty for everyone despite the scarcity, and also because a good amount is still issued with every new block. Our system is still practical. But as time goes by, less and less bitcoins will be available and usable. In a very long time, there might not be a single satoshi available anymore. This is a bit extreme, but I meant to highlight the fact that the current system is not sustainable in the very long term in my opinion. Having less bitcoins available increase scarcity and drive the prices up, but it becomes impractical as well. Exchanges could not keep as many coins, dry up and you won't be able to get into the network that way anymore, especially if you're not a trader. I'm talking about so much scarcity that even a single satoshi is worth a lot. We are limited to 10e-8. (Please bear with me, I know it's been suggested to increase the amount of decimals, but I am just exposing the problem for now, not proposing solutions)
Mining will become less profitable
Mining reward decrease with each halving, and eventually, miner will only be rewarded with the fees. This is a side-problem. By that I mean that this is a related but less important point in my argumentation. Miners need an incentive to mine, and this activity should be profitable, otherwise they would stop. No miners, no network. Will fees be enough to keep them mining? Will fees become incredibly high because of that? Will people still use the network if the fees are so high? I don't have the answer to these questions and it's harder to foresee than the lost coins. Anyway, lower fees are desirable for the users, and higher rewards are desirable for the miners. Any change that could reinforce this statement is welcome.
Proposal: invalidate and re-issue very old unspent UTXOs
To solve the problem of lost coins and too much scarcity, I suggest that very old unspent UTXOs can be invalidated and re-issued as mining rewards. I understand that it can rightfully be seen as a theft. This is why I want to try to find a balance so more than 99% of re-issued coins are actually lost. I thought that an expiration time of 100 years (about the time of a long life) would be enough to consider that the coins are lost. It would also be enough in the case of a deceased person who didn't give the recovery phrase to their relatives. It is quite unlikely that holdings stay at the same place for so long. We're talking about a long lifetime! Another way to increase the confidence in re-issuing actually lost coins is to implement a heartbeat into wallets so they move the UTXOs which are going to expire automatically to keep control. There are however legit concerns for cold storage, which would require user actions to trigger the heartbeat. But keep in mind that this heartbeat would probably never be needed in your entire life as the expiration time is so long. Users could also do this heartbeat themselves if they want to of course. To avoid the miners to censor these transactions in order to try to get more profit (and actually stealing coins for that matter), this heartbeat would be done several years before expiration. I think that there wouldn't be so much incentive to censor these transactions because the profit from the censored heartbeat would come a very long time later. They would rather take the fees from the heartbeat transaction instead. As a bonus, miners would get more than the fees as their reward. It would help keeping the fees lower and keeping the miners mine. Of course this is not a real solution for this problem, this is just a fortunate side-effect of the re-issuing. The system should not rely on that alone to sustain the network security. Some people are against this because re-issuing lost coins would decrease scarcity and drive the prices down. I disagree with this statement. The hard limit of 21 million bitcoins will still be there, there will still be scarcity, and it will remain practical. No new coin will be issued. This core principle is kept. Technically, the following change to the consensus rules would be needed: an unsigned transaction is valid if the inputs are spending UTXOs older than the expiration time or if the transaction has no outputs (everything goes to the miner). I know there is a strong opposition to this idea among the Bitcoiners, probably because it is quite in contradiction with one of the core principles of the protocol: you are the only one controlling your money. I understand this point of view and I agree with it. This change would indeed create a way in which your coins can become someone else's without your consent. But as everything in life, no solution is perfect and can be either terribly bad or acceptable, depending on the conditions and if a balance has been found or not. I think that the 100 years expiration time plus heartbeat is a fair proposal.
Compared to increasing the decimals
I saw another idea while reading the previous submissions: increase the maximum amount of decimals. This solution would remove the problem of too much scarcity. I believe that it is just as much in contradiction with the core principles of Bitcoin than re-issuing. That would mean that scarcity doesn't really have any sense anymore, and that we could just print more money, just like fiat. This is not a bad idea by any means, but it's also an idea that sacrifices something. I think that the price to pay is way higher though. Both solutions would require a hard fork.I've been proved wrong in the comments: allowing more decimals would apparently not require a hard fork. However, taking the long expiration time into consideration, re-issuing would not need a hard fork if it's widely accepted and supported by the community. The oldest possible UTXO is currently 10 years old. That means that it could be re-issued in 90 years at minimum. This time span is way enough for the network to implement and spread the change without it taking effect. So when the first expired UTXO is re-issued, everyone in the network would already handle it (again, assuming the change is accepted) and thus, no hard fork would occur. On the other hand, adding another decimal would require a hard fork right away. Another advantage of coin expiration and re-issuance is that it would prevent the UTXO database to ground unbound. Any unbounded database is not sustainable in the long term. Re-issued UTXOs are not new UTXOs. Adding decimals creates new UTXOs and opens the door to a potentially infinitely large database.
Why not submit the idea to an altcoin?
I'm foreseeing this question being asked to me. I believe in Bitcoin more than any other project when it comes to decentralized money. My aim is to try to make it the best I think it can be, not for the glory of having contributed to it, nor just for the sake of having my idea implemented somewhere. I want it to have meaning, to be relevant. If the community doesn't like the idea, so be it. I won't make another pointless hard fork. I understand that there must be consensus and if there is not, why trying so hard?
Conclusion
In conclusion, I am certain that we will face a problem one day or another regarding lost coins. There are solutions, but none of them is very good nor have support from the community. If we want a robust and sustainable decentralized digital money, we have to make a choice and compromise. Would you rather protect your short term interests in Bitcoin or have it change the world in the long term? Now let's talk! I'm eagerly waiting for your responses. Please remain civil, expose your opinion without worrying about being downvoted, give arguments, question everything.
By popular demand, I've taken the automatically-generated transcript of the AMA video and broken it down to bullet points. Of course, this is not a word-for-word transcription and I've paraphrased a few things, so it's highly recommended you watch it for yourself: https://youtu.be/FGOSDZbETr4 Team Goals/Priorities – seen in current and future job postings
Improve network security through Unity Consensus
Developer evangelism: why developers outside of the crypto industry should care about blockchain technology
focus on dev education, tutorials, and events (hackathons, developer conferences, etc.) to directly speak to this community of developers
More coinholder engagement and governance
Coin accessibility
This is a top priority for Aion: leads to improved security, more developer adoption, and an overall better ecosystem that people feel like they're participating in and getting value from
Each accessibility partner Aion is working with (top listing partners, staking partners, custody partners, and wallets) has its own process, timeline, and engineering requirements which Aion doesn't control, but a number of them should come to fruition in short order.
Can't give any hints, but Aion will announce when integrations are complete.
Adoption
Not thinking about network adoption solely in terms of how many dApps are on the network because across the crypto industry the vast majority of dApps have very low user and transaction volume.
Aion's focus is on quality businesses building quality applications that have the potential for huge user bases.
Aion plans to increase overall network usage through developer onboarding, tooling, documentation, evangelism, and investor relations.
AVM opens the door into a community of developers who build mission-critical software that can benefit from the advantages of blockchain tech.
Project Apollo
Under NDA, stay tuned
In the final stages of getting ready for release on main net
huge potential addressable market
Awareness about Aion (video choppy here)
Java developer community focus given popularity of the language in enterprise software
Attending conferences
Unity Economics
the mechanics of the tech and how the proof of stake and proof of work are going to interact together is essentially solved
POCs for different models are already built
Working with world-renowned economists and game theorists externally to get the economics right, in research phase right now
variables that lead to the economic distribution of the rewards are still being finalized
will have ways for users to test and give feedback on the Unity design between now and launch date
Building the next “Killer App”
impossible to predict
Aion created an environment where it's easy for people to experiment and innovate and try new ideas through developer documentation and evangelism
messaging about problems Aion wants to solve for the world and why people should build their next solution on top of infrastructures like Aion
not necessarily messaging that to Ethereum developers, focus is on web2/traditional software companies and talking to them about how blockchain/decentralized networks give them a new set of tools to address challenges of trust, centralization, asset distribution and tokenization
Enterprise Ethereum Alliance
Aion has been actively talking about what the AVM means to an enterprise audience because it opens the door to Java on a public blockchain
There have been a lot of limitations and hesitations around Solidity and the Ethereum Virtual Machine
Aion is in the process of introducing the AVM as a potential new standard
Other public blockchain projects outside of the EEA (e.g. RSK) are looking at integrating the AVM because they see a better design for executing transactions and applications on top of a public network
WinMiner
Not in the loop on every project building on Aion
if you have questions about any specific companies or projects, reach out to them directly to get the best info
Hackathons
did 3 leading up to AVM release
none on the calendar yet but developing a more thorough hackathon strategy focused on growing attendance for non-crypto developer audience to introduce them to the AVM and its toolsets
will likely have an online hackathon that spans over the course of a couple of weeks
Awareness in developer communities
more focused on establishing Aion's voice beyond the existing blockchain industry
AVM and Unity are big, necessary milestones that differentiate its network design and infrastructure
focus is on the millions of developers in the Java community over next 6-12 months
Marketing
Aion's not trying to do copycat marketing to the crypto industry
AVM and Unity are milestones directly tied to how different and distinct building on Aion is compared to other projects
A lot of the marketing strategy to date has been research driven: talking to, surveying, and interviewing developers and companies to understand what problems developers face and the barriers to adoption
we need to differentiate and communicate the problems Aion solves and aim to start doing more aggressive marketing directed to traditional software companies around those problem statements
this research is also informing what we're doing on our documentation
Java developer interest
pretty good since AVM launch announcement, people reaching out to us asking us for more information, Java developers taking a spin of the code base.
One of the largest Java-based companies in the world is now very clued in to what we're doing and has an internal team diving into the design of the the AVM and how it interacts with the Java Virtual Machine
this is leading us into Java community groups, Java conferences, talking to traditional software companies and we're starting to see a lot of interest
culminating into a more deliberate marketing strategy that targets these people
Integrations
Portis wallet integration and Aion custodian services are ongoing
we're going to be constantly working towards adding to the ecosystem of supporting tools
As we go towards Unity, need to talk to staking and custody companies to allow people to manage their coins efficiently and securely
Market position
We understand the concerns coming from the community
We're confident that if we have a differentiated marketing strategy and if we're the only project effectively addressing the concerns of the mainstream Java developer community this will be reflected in our market position over time.
Not ignoring the community but have to address these things in their appropriate sequence. We can't say everything that you'd like us to say publicly.
MavenNet
Managed and operated by friend and co-founder Kesem
No, I do not have any legal ties or legal attachments to MavenNet
No, the foundation is not an investor in MavenNet
Yes, they are an important member of our ecosystem and we have done some projects with them, including the MavenBridge, which was an implementation of the bridge that we had built last year with our bridging teams
TRS
Not something Aion controls. TRS is an automated distribution mechanism that was completely open and inclusive to anybody in the community who wanted to participate. There are monthly distributions and most of those distributions do not come into the Foundation's coffers.
It is part of the economic design of Aion.
We hear you that there are concerns. A big part of our economic design is going through a revamp with the Unity release.
TRS is not something that can be changed or will be changed.
A lot of these economic/supply concerns are being addressed in the design of Unity, and it would be great to have more feedback from the community on that.
Interoperability
Our conclusions after spending a year focusing on interoperability is that as we prioritize what needs to be built to make mainstream adoption more likely, interoperability does not seem as imminent as we originally thought.
We're not saying this is not an important piece of infrastructure, or that we are completely deprioritizing it. We're reprioritizing it to later in our roadmap.
In the meantime, we have a lot of respect for the teams at Cosmos and Polkadot. We're very curious about what they're building and excited to see what they come up with. Our research team is constantly paying attention to new releases and updates, and we have a relationship with both of these projects that gives us a good window into their development. The great part about this industry is that we're all developing publicly and open source, and we'll be able to piggyback off of each other's innovations as the market weighs in on what's important and useful.
Our focus has been readjusted to address what we think are the most significant and imminent obstacles.
AVM, tooling, and Unity economic and security design continue to be the focus of our engineering and research teams
Anthony “Pomp” Pompliano interview
Thank you everyone who helped get his (and others') attention on social media.
We're working on timing
(Video skipped)
We still constantly hear from companies that they don't understand why they should use a blockchain, and I think this is an existential problem for our whole industry, what problem are you solving, why is this important to business.
There's some really interesting innovation happening on top of blockchain, novel web3 crypto applications, but when we think about why this infrastructure is important to the rest of the world, there's still a gap in articulating the problem statement. Our focus is to get better at conveying why companies should care about this tech and then giving them the tools to see it for themselves.
In the short term, I think this is going bear a lot of fruit because we're now having more impactful conversations with companies that two years ago we never would have been open to building something on top of the public network. Now we're seeing the comfort level of larger companies shift to where many are open to public blockchain applications and infrastructure, but we still need to articulate why they should build parts of their business on a public blockchain and what type of software is best suited for a decentralized network.
We think there's going to be a trend towards large companies shifting their perspective towards public blockchains, which is where Aion comes in.
Big Enterprises
We're often restricted from talking about non-public POCs
I think our software is gaining the attention of the companies that we were hoping it would
We already have an integration with Microsoft Azure available on their cloud marketplace, and we've also been talking quite a bit with that team other the big tech infrastructure companies around integrating support for Java development on the AVM into their developer tools.
This piggybacks off the work that we've already done with tools like IntelliJ, Maven, Gradle—we're trying to go through the short list of high profile dev tools that are already very well established and well used by big software developers around the world
Singularity University
A big part of my motivation in this industry is understanding why blockchain matters in the bigger picture, not just crypto for crypto's sake, but its potential global impact.
Singularity University is a great vehicle to have those conversations. This is a group of people that are futurists and really creative thinkers that talk about the problem and the world in a way that most people don't, and I think it's going to continue to be a really good stage and great association for me to maintain.
I have a good relationship with Salim Ismail, who continues to be an adviser of Aion and is involved with Velocia, who is in the process of launching its application on top of Aion with their pilot program rolling out in Miami.
Charles Hoskinson/IOHK/Cardano
We have a great relationship, we've had a number of conversations with Cardano about the design of our VM and I think there continues to be interest
We do not have a formalized partnership to publicly discuss today, but this is going to continue to be a team that we look up to and that we're going to discussing the AVM design with.
I think we've got interest from them. It's a pretty productive conversation about possible future collaboration but nothing concrete at this stage.
Challenges as FoundeCEO
The balance between making sure the community has the information that it needs and deserves while also balancing our focus and priorities. Not every one of our priorities can be measured in weeks and months, and some of our priorities are much more macro than that, and we have to constantly fight that balance.
I think one of our biggest challenges has been making sure that we are shining a light on our successes. We have an incredible, solid, world-class team. I think people that get familiar with Aion are convinced that we are in a very very small class of leading projects in terms of technical substance. I think we still have a long way to go in terms of learning how to appropriately cast a spotlight on that talent. You're going to see constant adjustments from us to do better at highlighting the talent we have and finding new talent. This is not a people problem—I think we have all the right people—and it's a matter of messaging and articulating to the world what problems are we trying to solve. I feel like I'm motivated and surrounded by people that that keep me enthusiastic about the problems we're solving.
We keep reminding ourselves that we're not only in a new industry, but we're in a new industry that can have a fundamental and important change on the world, and that drives us every day.
The support we get from the community is a big part of that, and we're not blind or ignoring any of the concerns or questions that you bring up. We're going to do a better job of giving you a voice in our decision-making process. We're constantly balancing internal priorities with external communication.
Sometimes we're not prioritizing exactly what the community would like, but we're not doing that in a vacuum. We're very specifically evaluating the pros and cons of one priority over another because we have to balance resources while keeping our eye on the long-term goals for what we're building.
European presence
No plans to open an office there.
We have a great partnership with a company out of Romania that we've been doing work with for the last year and a half—Centrys—that has been responsible for the THEO Project, Syna wallet, and a distributed marketplace project.
We continue to maintain our offices in Toronto, Shanghai, and Barbados.
ConsenSys
We have a good, long-standing relationship with ConsenSys. We have lots of friends who work and worked inside that company. I continue to serve on the board of directors at the Enterprise Ethereum Alliance alongside ConsenSys, Joe Lubin, and others. But ConsenSys's business model is very specifically focused on supporting the growth of the Ethereum ecosystem.
We have interest from certain members of the ConsenSys teams that are working more within the enterprise space around what we've built with the AVM because it addresses a lot of their concerns around Solidity/EVM.
People like what we've done with Java and the AVM, and I think we're going to have a lot of traction around building out a community of users, which will validate our tech stack and start to build out a larger set of templates for smart contracts and tools that are supported on top of the same VM, and turn that into more of an industry standard. I would not be surprised if that ends up having some involvement from certain members or teams within ConsenSys
Value to Aion
This is a massively dynamic market, and there are a lot of factors that feed into this. Many of these factors are short term and many of these factors are long term. We're trying to balance between how much focus should be on the long term while maintaining a view on the short term, but I think everybody who's followed us for long enough knows that we're a long-term, substance-first project. We adjust and we learn along the way, but we're going to continue to stay true to that.
That's not to say that we cannot optimize our messaging and communication strategy. We're in constant discussions with partners that impact coin accessibility and what that means for the security and distribution of our network. We are in the middle of integrations, partnership conversations, listing conversations, and all of those have their own timelines. All of those are independently complicated depending on which company's we're talking to, so this is not something that's universally or only in our control. We have to rely on third parties to support us.
Interoperability (part 2)
I don't want to phrase this as de-emphasizing interoperability. I think we have always been trying to solve how to build a useful infrastructure for developers and what components are part of that. Our thesis has changed over time as we learn and research.
Interoperability is a critical thing to solve, but may not be the first thing that needs to be solved in terms of the barriers to adoption. We are constantly asked, “what's the point of connecting to networks that have no usage?” Interoperability is maybe not the right answer to getting more usage. Our focus has been on how to increase adoption.
Interoperability will probably be part of the long-term infrastructure challenges that we face, but we think there are more imminent problems to solve. I think there are a lot of ways for us to be collaborating with other projects. The way we define what we're building, the language we use, has a big part to play in how we convince people to build on top of us.
People that don't view themselves as blockchain developers are potentially less keen to build out “a blockchain” but maybe more keen to build on a decentralized infrastructure that solves data ownership problems. We're testing different messages and different narratives.
Interoperability will become part of the long term design, but it's a matter of when is it the right time to be investing in that research.
Runway
As many of you know, we're very public about our finances.
The next release of our finances will come out for the June 30th date. We release finances every three months. It usually takes us three to four weeks to prepare them and publish them, so March 31st got released sometime in April, June 30th will get released sometime in July.
Our financial stability and our funds are not our top concern right now. We feel very confident about where we're at with our runway and the amount of money we have. I'm very confident that we have more than sufficient funds to prove our thesis.
We can probably set up an opportunity for the community to ask questions after the June 30th statements have been published.
Months of runway changes all the time depending on factors like the price of Bitcoin, but generally speaking, we've continued to maintain a runway north of two years, even when we decide to spend more. Wait until our June 30th numbers are published you'll have a lot more specific information at that point because we are prioritizing new hires that are going to change the amount that we're spending on a monthly basis.
Thank you so much for being patient with us. Stay tuned for our weekly AMAs from different members of the team, community surveys, and these quarterly video AMAs. There's going to be a lot more information coming out of the project especially as we wrap up Unity.
Bitcoin : Voici une voiture électrique capable de miner des cryptomonnaies Par Investing.com - 02/06/2021 13. Investing.com - Le fabricant canadien de véhicules électriques légers Daymak a annoncé qu'il allait produire une voiture électrique capable de miner du Bitcoin, de l'Ethereum et du... Get detailed information about the Global X Silver Miners ETF including Price, Charts, Technical Analysis, Historical data, Global X Silver Miners Reports and more.
Bitcoin and cryptocurrency mining explained - YouTube
Welcome back to cursed mining, and today it is time to expand the #USB #mining farm with #Gekkoscience 2PACs. CGMINER WITH DRIVER (from bitshopper.de) http:/... Bitcoin and cryptocurrency mining explained with the Byzantine Generals Problem. We use it to explain the essence of cryptocurrency mining. https://www.udemy... En Güvenilir Bitcoin Miner 2020 Micro Crypto Soft V. 0.1 İnceleme Share your videos with friends, family, and the world #bitcoin #bitcoinmining #bitcoinminingsoftware By Far The BEST Bitcoin Mining Software In 2020 (Profitable). This is a review on the most profitable, easy, a...