SHA-3 Hashing Algorithm – Mining, ASIC, Cryptocurrency ...

0xBitcoin

The first pure mined ERC20 Token for Ethereum, using the soliditySHA3 hashing algorithm. This is a smart contract which follows the original Satoshi Nakamoto whitepaper to form a fundamentally sound trustless currency. This combines the scarcity and fair distribution model of Bitcoin with the speed and extensibility of the Ethereum network. Thus, it is named 0xBitcoin or 0xBTC where 0x represents the Ethereum Network and ecosystem.
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StableCoin

This subreddit is dedicated to inform and discuss the revolutionary cryptocurrency Stablecoin.
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BitQuark : Super Fast, Super Secure, CPU Mined, ASIC Resistant

[link]

Bitcoin’s Security and Hash Rate Explained

Bitcoin’s Security and Hash Rate Explained
As the Bitcoin hash rate reaches new all-time highs, there’s never been a better time to discuss blockchain security and its relation to the hashing power and the Proof of Work (PoW) that feed the network. The Bitcoin system is based on a form of decentralized trust, heavily relying on cryptography. This makes its blockchain highly secure and able to be used for financial transactions and other operations requiring a trustless ledger.
Far from popular belief, cryptography dates back to thousands of years ago. The same root of the word encryption — crypt — comes from the Greek word ‘kryptos’, meaning hidden or secret. Indeed, humans have always wanted to keep some information private. The Assyrians, the Chinese, the Romans, and the Greeks, they all tried over the centuries to conceal some information like trade deals or manufacturing secrets by using symbols or ciphers carved in stone or leather. In 1900 BC, Egyptians used hieroglyphics and experts often refer to them as the first example of cryptography.
Back to our days, Bitcoin uses cryptographic technologies such as:
  1. Cryptographic hash functions (i.e. SHA-256 and RIPEMD-160)
  2. Public Key Cryptography (i.e. ECDSA — the Elliptic Curve Digital Signature Algorithm)
While Public Key Cryptography, bitcoin addresses, and digital signatures are used to provide ownership of bitcoins, the SHA-256 hash function is used to verify data and block integrity and to establish the chronological order of the blockchain. A cryptographic hash function is a mathematical function that verifies the integrity of data by transforming it into a unique unidentifiable code.
Here is a graphic example to make things more clear:

– Extract from the MOOC (Massive Open Online Course) in Digital Currencies at the University of Nicosia.
Furthermore, hash functions are used as part of the PoW algorithm, which is a prominent part of the Bitcoin mining algorithm and this is what is of more interest to understand the security of the network. Mining creates new bitcoins in each block, almost like a central bank printing new money and creates trust by ensuring that transactions are confirmed only when enough computational power is devoted to the block that contains them. More blocks mean more computation, which means more trust.
With PoW, miners compete against each other to complete transactions on the network and get rewarded. Basically they need to solve a complicated mathematical puzzle and a possibility to easily prove the solution. The more hashing power, the higher the chance to resolve the puzzle and therefore perform the proof of work. In more simple words, bitcoins exist thanks to a peer to peer network that helps validate transactions in the ledger and provides enough trust to avoid that a third party is involved in the process. It also exists because miners give it life by resolving that computational puzzle, through the mining reward incentive they are receiving.
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submitted by BlockDotCo to u/BlockDotCo [link] [comments]

Logical proof that luke-jr is actively hostile to Bitcoin. A response to threats of algo change and associated nonsense.

To any casual reader that had an inkling of doubt that luke-jr is actively hostile to Bitcoin, I present to you a logical proof.
Here and elsewhere, he asserts that the Bitcoin mining algorithm now suffers from the same weakness as IP addresses in the Satoshi whitepaper, because Bitmain has a majority share of the market. Effectively, the argument is that hashpower representation has been subverted by a single interest, Bitcoin is already under a 51% attack, and the answer is to defensively fork to a new PoW algorithm. We are all fairly aware of his position and it is an internally consistent one. It is important, however, to fully articulate the entire argument rather than pick at the individual facets of it, because while the facets are logically sound, it is the premises that are being misrepresented - and I will go on to show that it is internally inconsistent for him to be ignorant of the misrepresentation and still be a Bitcoin user, and the only logical purposes his positions can serve, from his point of view, are with hostile intentions.
First, the core misrepresentation. Let us come back to the Satoshi whitepaper: Proof of Work is a demonstration of a scaled and maintained investment into the security of Bitcoin. As more investments into the decentralized mining network are made, by individual miners deploying hashpower, the system becomes increasingly difficult to subvert. More hashpower means more security, and this is a core fundamental of the functionality of Bitcoin as a fungible store of value. Proof of Work is the innovation that powers Bitcoin. The implementations and respect of, and consensus around, PoW are behavioral; but the idea - the system - is designed to be irreverent to human behavior, and rely only on PoW, and it does so spectacularly. As we say in the engineering field - people fail, systems don't.
Now, it's important to understand that PoW is more than just Proof Of Purchase From Bitmain. This is the misrepresentation at its core - luke implies that hashpower purchased from Bitmain is somehow a point of failure or centralization. This is wholly incorrect, but an easy assumption to overlook when one is presented with the argument in the manner luke prefers to frame it. Bitmain makes the money from the equipment, after all; but it's not the money made that matters to Proof of Work, it's the money spent.
You see, it's not Bitmain operating those miners, it's the purchasers - wide and varied as they are about the globe. Those purchasers are the ones that are invested into the system. Bitmain makes money - and indeed, that revenue model is dependent on growing investment in Bitcoin - but manufacturing equipment by itself does not represent an investment in Bitcoin's security. Mining equipment isn't producing blocks and securing the network until powered and connected to the mainnet - and guess who invests in that? Not Bitmain. Bitmain has no influence on the demand for its products - this is econ 101 guys - and Bitmain's product is mining equipment, not hashpower. Hashpower is produced by mining equipment when the cost of power is paid. You can borrow, buy, or rent the gear; but you always pay for the power - even when cloud mining. This is important because I want to come back to the original comparison between IP addresses and hashes.
IP addresses are very inexpensive to control. Once purchased, they can be freely assigned and used at minimal expense. This makes them a poor choice for security. Hashpower is very expensive to control. After setup, they are a constant maintenance expense and require a continuous investment to maintain. Their purpose is to produce blocks that come with rewards, and those rewards are in turn locked by the system for a short time - ensuring the miners' continued interest in securing their investment negates any potential benefit of, and punishes, hostile behavior. Remember: Proof of Work, not human behavior, secures Bitcoin. A block produced by a Bitmain miner - as well as one produced by any other computing device - is acceptable to the network regardless of the addresses that recover the coinbase reward.
Now note how hostile behavior is treated by the system. If Bitmain-sold hashpower were hostile, or somehow damaging the network, other miners can react appropriately by refusing their damaging blocks. After all, what damages one miner damages all miners, and they have a united interest in stopping it. (failure is not an option, as it renders miners' investments, and by proxy Bitcoin itself, worthless)
See, IP addresses don't have any of these benefits. A simple assertion is not enough; one must prove their vested interest in the security of Bitcoin in order to secure Bitcoin. Our tough customer here either knows this fact, and is intentionally ignoring it when crafting his deceptive arguments, or is genuinely ignorant about the fundamental structure of Bitcoin's security model. If the former is true, his mendacity is a hostile attack on Bitcoin; if the latter is true, and he honestly believes Bitcoin is already compromised, he is not using Bitcoin because he considers it to be insecure - and is thus not a Bitcoin user.
Although, the second option really isn't an option. Clearly, he's fully aware of the technical aspects of the issue; he knows what a hash function is, he knows what a cryptographic proof is, and he understands the process by which blocks are produced. Ignorance of the security model that is serviced by these features is inexcusable at this point - if, by some miracle of human stupidity, he really believes Bitmain somehow controls Bitcoin and yet he controls funds by private key, how can he be trusted at all - for that matter, how could he be trusted if he doesn't? No matter the perspective, his insistence on the position is intent to obstruct. There is no purpose these statements can serve that is beneficial to luke himself or to Bitcoin, even placing him in the position of devil's advocacy for benefit, unless he is personally damaged by forward progress within Bitcoin. He is either obstructing with the intent to damage, or obstructing with the intent to resist progress. Therefore, he can only be actively hostile to Bitcoin in order to produce these statements, regardless of whether they are intentional misrepresentation or misguided assertions.
submitted by chernobyl169 to btc [link] [comments]

AsicBoost A Speedup for Bitcoin Mining

AsicBoost is a method to speed up Bitcoin mining by a factor of approximately 20%. The performance gain is achieved through a high-level optimization of the Bitcoin mining algorithm which allows for drastic reduction in gate count on the mining chip. AsicBoost is applicable to all types of mining hardware and chip designs.
Dr. Timo Hanke, March 31, 2016
submitted by hlorbc to ASICBoost [link] [comments]

My experience bitcoin mining in 8 months

I will not describe the charms and shortcomings of service that I've used, you can read one review here or on any other website. Surely if you are on this post - about bitcoin mining you already have some idea and are more likely to find real numbers about it. Well, I have them.
I have been using Hashflare since September 2017.
SHA-256 is Bitcoin's mining algorithm, currently the most profitable of the available algorithms. The most interesting here, of course, is the colossal growth of the bitcoin rate, which has inflated the payback to the skies, 500-600% per year.
The second important point I want to draw your attention to is the daily Hashflare commission. On average, it takes 20-30% of your income. Why is it important to take it here? Yes, because in the reports on profitability in the Hashflare they show the figure without taking into account the commission, that is, it is noticeably overestimated.
The next one is Scrypt, this is the mining Litecoin algorithm. But Hashflare decided not to bother and enigmatic lightcoins convert themselves into bitcoin, and in bitcoins, they also pay a reward. To my taste, not the most honest moment in their work, because the leaps of growth of lightcoin on the yield of Scrypt is not particularly correlated.
Further - ETH. When I only bought power in HashFlare, ETH was the most profitable algorithm with a large margin from all the others.
Then there was the boom of GPU-mining in the world, the complexity of Ethereum network grew, which naturally affected the profitability. For a long time she was hanging out altogether below the 100% mark (that is, the cost of purchasing the contract did not repel herself). Now, with a new jump in the air, everything looks better.
In any case, the contract ETH has long been repulsed and now works in a plus. For all the time, 1.16 coins have been blamed.
I will not write any conclusions on whether to invest in cloud mining, whether it is worth it or it is a bubble that will soon burst. Everyone will make this conclusion by himself. I hope my post will help you in this.
submitted by jamessears89 to cloudmining [link] [comments]

Register and earn bitcoin!

Have you invested in Bitcoin? Quadoptions is offering you a smart and easy way of to invest your money. Our Bitcoin mining is suitable for those who are new to cryptocurrency, as well as for cryptocurrency experts and large-scale investors. Quadoptions is one of the world’s first large scale multi-algorithm cloud mining service offering an alternative to those who would like to engage in Bitcoin and altcoin mining investments. We are a team of expert in the digital currency sector and our Bitcoin mining algorithm is designed to provide the most efficient and reliable Bitcoin mining rentals with the use of our latest ASIC (application specific integrated circuit) by our professional miners. Join our community of investors and be traded for by our professional traders who share more than a decade commitment to pursuing superior returns. Applying their talents to fundamental research and advanced quantitative analysis to bring their insight to market. Guided by these imperatives, we move swiftly and deliberately to capitalize on opportunities having the potentials. Contact us @ www.quadptions.com Email: [email protected] Chat us through our live support Quadoptions Doing the hard work for you
submitted by Quadoptions to BitcoinInvestor [link] [comments]

My experience bitcoin cloud mining of Hashflare in 8 months

I will not describe the charms and shortcomings of service that I've used, you can read one review here or on any other website. Surely if you are on this post - about bitcoin mining you already have some idea and are more likely to find real numbers about it. Well, I have them.
I have been using Hashflare since September 2017.
SHA-256 is Bitcoin's mining algorithm, currently the most profitable of the available algorithms. The most interesting here, of course, is the colossal growth of the bitcoin rate, which has inflated the payback to the skies, 500-600% per year.
The second important point I want to draw your attention to is the daily Hashflare commission. On average, it takes 20-30% of your income. Why is it important to take it here? Yes, because in the reports on profitability in the Hashflare they show the figure without taking into account the commission, that is, it is noticeably overestimated.
The next one is Scrypt, this is the mining Litecoin algorithm. But Hashflare decided not to bother and enigmatic lightcoins convert themselves into bitcoin, and in bitcoins, they also pay a reward. To my taste, not the most honest moment in their work, because the leaps of growth of lightcoin on the yield of Scrypt is not particularly correlated.
Further - ETH. When I only bought power in HashFlare, ETH was the most profitable algorithm with a large margin from all the others.
Then there was the boom of GPU-mining in the world, the complexity of Ethereum network grew, which naturally affected the profitability. For a long time she was hanging out altogether below the 100% mark (that is, the cost of purchasing the contract did not repel herself). Now, with a new jump in the air, everything looks better.
In any case, the contract ETH has long been repulsed and now works in a plus. For all the time, 1.16 coins have been blamed.
I will not write any conclusions on whether to invest in cloud mining, whether it is worth it or it is a bubble that will soon burst. Everyone will make this conclusion by himself. I hope my post will help you in this.
submitted by SwitchKanun to hashflareinfo [link] [comments]

[uncensored-r/Bitcoin] Is Hashflare (Cloud Mining Company) the real deal?

The following post by anovski3 is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7fklbq
The original post's content was as follows:
Hello guys,
I have been renting hashing power - sha 256 (Bitcoin mining) algorithm on hashflare, and i made some decent money... So i was thinking that we can discuss whether hashflare is the best option for cloud mining? Any opinions?
Try it at : https://goo.gl/4bRtgq
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

A proposal to mitigate the effects of variable block creation times on the required block size, that also has *very* beneficial side effects...

I considered posting this question/suggestion at BitcoinTechnical, but there was only one post there (posted a year ago)...
One of the characteristics of bitcoin's mining algorithm that exacerbates the block size problem is the fact that the time that it takes to "discover" a new block exhibits a Poisson distribution, which means that although the average time will be ten minutes, sometimes it will be 30 seconds and other times it will be an hour. It is the long times that are problematic, since they "load up" the block.
What if the mining algorithm were modified, so that instead of rewarding a block to the first miner that discovers a hash at difficulty D, the reward is awarded to the first miner to discover ten hashes at difficulty D/10? This would tighten up the window by a factor of ten, and alleviate some of the pressure on the block size.
The two disadvantages I see are:
This would have other important benefits. The greatest benefit would be that the time required to wait for validation of the transaction by the sender and receiver would be much, much closer to ten minutes, almost all the time.
I chose the number ten arbitrarily, for purposes of discussion. Perhaps the optimum value would be 5, 20, or 200: let's discuss.
You may respond that this technique does not guarantee that there won't be hour-long waits, and that's true. But when this method sees an hour-long wait, the wait under the current algorithm would be ten hours!
Your thoughts?
[EDIT] I think that there is a problem with this algorithm as stated above. Pools and individuals with greater hashing power would have a tremendous advantage. The likelihood of finding the ten solutions would not be proportional to the minepool's hashing power H, but to H10 . Let me see if any way can be found to remove that advantage (help me out if you can).
[EDIT #2] Is this a solution? A further restriction can be placed on the ten hashes that comprise the winning set: all ten must be generated sequentially (or within a specific range); that is, their nonces must be ten sequential integers (or ten integers that are all within a specific range), with no changes in the rest of the block (of course, the difficulty D would have to be adjusted accordingly). This would eliminate the exponential advantage that larger pools have and make the larger pool have an advantage that is proportional to its hashing power H, just as it currently is.
Posted at bitcointalk.org
submitted by ShatosiMakanoto to Bitcoin [link] [comments]

Alternatives to traditional government

Been wanting to make this post all day. Mods, I'm sorry if this is too off topic, but I think it's relevant, I can be mistaken though. Also sorry if this becomes a rambling mess at some point, I don't usually write long posts, and this is the first time I've put all these ideas down in writing.
This idea has been floating about in my head for a bit, I'm sure there is probably a name for it, or someone else has written about it before. But I think of it as a "cryptodemocracy".
I'm sure many of you are familiar with bitcoin, or at least have heard of it. I've been thinking if it would be possible, or feasable to use a bitcoin like protocol for government.
The general idea would be each citizen/voter would get a unique voting key. I think of it almost as a bitcoin worth a single vote. You would be able to spend your votecoin on ballots. One per legislation. You would never run out votecoins, it would be more a unique identifier.
You could vote yay or nay, and obviously you could abstain from voting altogether. When I've brought this up to other people before a few things come up. -Mob mentality votes -Uneducated voters/low voter turn-out
Mob Mentality votes: An example of a mob mentality vote could be after a catastrophe. An example being after the sandy hook tragedy, when there was a call to ban all assault weapons. Whether you think they should be banned or not is not the issue. But in the wake there was a strong push to pass legislation to ban them. A digital government could have a vote like this up in seconds and it could start trending votes very quickly. With the right manipulation or propaganda etc, a quick trending vote could inadvertently pass harmful kneejerk laws. To counter this I think a difficult system similar to the bitcoin mining algorithm could work. Lets say it would normally take 30 million votes in a 2 week period to pass legislation, but this kneejerk law had 5 million votes after a few hours. The difficult to pass the law would increase to perhaps 60 million votes in weeks. That way, after the initial voting burst subsided, people could stop and think about the legislation more. Change their votes, convince friends, etc. This would scale with the voting population. town -> nationwide -> maybe one day a global vote.
Anyone would be ideally be able to submit legislation to be voted on. I'm not 100% how this would work. Obviously being the internet, I expect there would be tons of Spam laws like "vote to have all women wear bikinis 24/7 ~~~VOte iF you lyke Booty~~~" This would be a drain on the system and probably make it unreasonable to ever deploy. There would have to be some sort of moderation of the legislation. Could this be done by neutral AI in the future? Who would try and filter the submission, somehow determining what is legitimate vs what is BS. Could it be done by some sort of elected body? But then would they have too much centralized power?
Uneducated voters/low voter turn out: I think some people would argue that a large portion of the population either doesn't care, or doesn't know enough to vote. I think this is a fair critique. I know I don't vote every chance I get. I also know I'm not 100% qualified to vote on say, corporate taxes. I might have a general Idea of my stance, "Corporations should be taxed". But I can't say, "I believe they should be taxed on 25% of their profits.". Because I don't know what that means. However, perhaps I know an economist, Professor John Doe. He thinks corporations should be taxed too, and you know what I trust him. So I would be able to make him my "economic policy delegate" where I give him my vote on economic issues and I trust him to vote on my behalf. So then his vote would count twice on economic issues since he is using both his and my vote.
Assuming we have different legislative forums. L/econ L/defense, L/healthcare, etcI could give my vote to different delegates on each respective topic. This will probably lead to the formation of collations similar to the multiparty collations in other nations that are not the US. I'm sorry for being ignorant to how they work, but I live in the US. The difference being, you would always have the ability to retract your delegated vote and to cast it for yourself.
As for Uneducated voters, obviously the goal would be to have them simply become educated. There will always be apathetic voters, but they could delegate their votes.
Another issue would be a 51% attack type situation. Where delegate becomes so popular that they can pass laws on their own. I do not know of a way around this other than hope that no one will ever have that much influence. Although perhaps, if someone ever attained that much power and abused it the ability to retract delegated votes would mean their power trip was short lived. Regardless its an issue.
Now this would only be the voting system. The actual body of government, government employees and what not is a whole other ball game.
I made this post mainly to open up discussion on this. I know my ideas are not perfect, and I know I have not thought of everything that could go wrong with the proposed system. I'm hoping by making this post that others could build off of the idea. Think of further safe guards. Other things to safe guard against, implementation considerations etc. Also, just general thoughts are more than welcome.
submitted by Divided_Pi to futuristparty [link] [comments]

06-03 07:52 - 'An answer I gave earlier to someone else, hopefully this will catch you up enough (it's a few days old so horribly outdated but eh cba to rewrite it right now): / Segwit is currently the best horse in the block scaling debate...' by /u/unstrdi removed from /r/Bitcoin within 149-159min

'''
An answer I gave earlier to someone else, hopefully this will catch you up enough (it's a few days old so horribly outdated but eh cba to rewrite it right now):
Segwit is currently the best horse in the block scaling debate in short-term by far, while also fixing some bugs that are required for mid- to long-term scaling solutions. It's seriously well-engineered; even backwards compatible with older nodes which in the past, before this possibility was discovered, made it seem like a non-viable option because of the network's upgrade inertia. This backwards compatibility alone (aside from the other benefits it offers) makes it superior to other, more naive solutions such as "just increase the blocksize to 2mb" as this would require the entire network to update their software to succeed.
Unfortunately, the designers of the deployment mechanism naively gave veto power to the miners, the ones that are making insanely high profits off the fees right now. Surprise surprise, they are unwilling to enable it. Then, news broke that one of the biggest players in the mining industry may be blocking the upgrade because it is incompatible with its secret patented tech. Tech, btw, that is directly in conflict with Bitcoin's security assumptions, exploiting a weakness in the Bitcoin mining algorithm so seriously that it now has a CVE number.
UASF (User Activated Soft Fork) is a movement of users that are not cool with this kind of corporate takeover of Bitcoin. BIP148 is the specific UASF that is now gaining a lot of traction and is already represented by over 10% of listening nodes in the network. What it aims to do is to economically force the miners' hands into activating the existing deployment of Segwit by boycotting all non-signalling blocks. On Litecoin, the mere threat of this same UASF led the miners to fold on their blockade. On Vertcoin, the UASF actually overcame a blocking miner that kept up an extended fight, wasting tons of money on mining more incompatible blocks than there were compatible blocks.
With Bitcoin the stakes are much higher, and the disinformation campaigns much bigger. Keep a critical eye open to everything you read, and make up your own mind. Educate yourself, for your own good. Being passive is not the safe, neutral option. If you want to understand truly how insane the game theory is at this point, read the plea for rational extremism. It is accurate as far as I can tell.
If you are interested in chatting there's a slack with a community support channel with a ton of pinned resources to help you spin up your own BIP148 node if you feel so inclined.
'''
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Author: unstrdi
submitted by removalbot to removalbot [link] [comments]

10-01 19:17 - '[quote] It was obviously a typo. I fixed it. / Happy now you little troll? Maybe click my name and see the time I've spent here before jumping to conclusions of ignorance? Because that is, in itself, a act of ignorance...' by /u/Cryptolution removed from /r/Bitcoin within 17-22min

'''
That doesn't make any sense. You seem very confused on how Bitcoin works. Andreas has a fabulous talk on PoW (PoW is Bitcoin's mining algorithm. Your previous comments strongly suggest that you believe it's PoS o_O).
It was obviously a typo. I fixed it.
Happy now you little troll? Maybe click my name and see the time I've spent here before jumping to conclusions of ignorance? Because that is, in itself, a act of ignorance.
Hint - I've put 1000x more time into this community than you have. 99.9% of my karma is from /bitcoin
'''
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Author: Cryptolution
submitted by removalbot to removalbot [link] [comments]

[For Hire] I need interesting high performance simulation or analysis problems in science, engineering, or economics!

Hi Redditors,
Anyone here interested in a recent graduate physics major looking for work? I have a BS in physics with the standard coursework from a great school. I'm interested in using computers for simulation or computation of really cool problems, and am ok with getting my hands dirty with electronics or coding. I'm open to all of the US and willing to relocate as early as a few weeks.
Seeing that I have a degree in physics, meaning I have exceptional quantitative skills and a knack for turning the natural world into a math equation, you're probably asking, how does a person with physics undergraduate translate to the position I have? The answer is simple and perfect: they don't. We are all about learning, studying, and testing to quickly to determine...
  1. What are the important parts of a system?
  2. What is the interplay between these parts?
  3. How does this translate to the system as a whole?
  4. How can we take advantage of it?
... No matter what the system is.
If you want a motivated, energetic worker who can quickly adapt to new technologies, has great quantitative insight and happens to be a cool person to chat with and discuss fantasy football don't hesitate to PM.
P.S. I have experience with Fortran and Julia, and am willing to ramp up learning of those or other languages to meet your needs, so don't feel bad to take me on for a value within the next few weeks rather than wait 3-6 months for a headhunter 20% on top of a specialist salary (~120k for a year in my area).
Bonus points and a super quick response if your projects are related to:
-Bitcoin Mining -Algorithmic Trading -Aerodynamic Simulation -Orbital Mechanics -Thermodynamical Modeling -Fluid Physical Modeling -Cryptology/Penetration Testing -Robotics -Swarm Sensors/Machine Learning -Meteorology
submitted by supermath to forhire [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

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


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

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

I'm trying to be positive but GL's actions are the opposite of intelligence. This is the worst update in A9 history. I'll explain why...

I'm trying to be positive but GL's actions are the opposite of intelligence. This is the worst update in A9 history. I'll explain why...
It's a pretty long rant. You have been warned...
  • Worsened graphics. Same device, much worse graphics for no reason. They literally made the game engine worse.
  • Frame skipping and lagging everywhere. Also game crashes. They said they optimized the game. I bet they forgot to mention that you need a quantum computer to play their casino racing masterpiece.
  • The older bug with the mini map (tap do steer players can't tap in that area) is back.
  • The infamous lagging screen after every freaking race (what the hell are they doing in background that the phones become so hot? bitcoin mining?). They still didn't fix it after the recent hotfix! Who pays these clowns who can't even revert some dumb changes?
  • The unfair SE. There are hardly tokens offered. They keep reducing the rewards until there will be nothing left except uncommon parts and a few credits. They expect us to play hundreds of races for peanuts. The finest greediness. Also how come SE still shares the same tickets pool with daily events? They are different things!
  • Same old stinky GP. Everyone knows what is wrong with this thing that has nothing in common with real grand prixes except the name. Most regular players don't win keys. Why should we even bother anymore?
  • The hard Unleashed event. They put the same required time 0:51 despite the cars having different rankings. They don't have the expression "fair play" in their dictionary.
  • Credits heist is good in theory. In practice they added the awful police besides the aggressive AI to make sure you can't get those credits. They also added stars requirements for good measure. Also they made it that way you need to play too many races if you want all rewards. Efficiency is again not in their dictionary.
  • The new MP format which encourages dumb grinding to get some decent milestones.
  • The club rewards remain a joke.
  • You need to complete 250 conditions in SE just to have the chance to buy packs! Whatever GL idiot who thought of that should have his head smashed on his monitor.
  • They still didn't fix that stupid error with no internet connection! My internet is working, it's not my fault you can't code a decent internet connection algorithm.
  • The cheaters are still dominating MP. The Android version has such a poor security that every schmuck can abuse the game. I wonder if anyone even reads those in game reports or are there as placebo effect.
  • Did you check how much internet traffic this game consumes? What the fxx-k they transfer that A9 needs gigabytes of data every month just to play it?
  • Should I mention the bunch of useless employees called Customer Care? An appendix is more useful than them.
  • etc
But we have emoticons! And new cars while most of us didn't even max out or unlock many of the previous premium cars. Give me a reason why should I keep playing...

I hope your wallet is as big as their greediness..
submitted by SpaceGenesis to Asphalt9 [link] [comments]

Recovering private key of change address from Bitcoin Core

Hello, I am trying to help my mostly Bitcoin-ignorant friend with the following problem:
A long time ago, he mined some BTC using Bitcoin Core client with unecrypted wallet.dat.
Some years later, he added encryption to his client and sent some BTC to someone else ("transaction X"). Then he forgot the password of his wallet.dat.
He had backed up the original (unencrypted) wallet.dat file so I managed to extract private key of his mining address from it and send his funds safely elsewhere.
However, during "transaction X", around 0.7 BTC ended on a new "change address". I cannot access the private key of this "change address" because it was generated after the wallet was encrypted and he forgot the password.
Or is there a way to find this private key, e.g. are the change addresses PKs in Bitcoin Core generated using some non-random derivation algorithm?
I have access to both versions of the wallet.dat file (original unecrypted and later encrypted before "Transaction X")
EDIT: Thanks everyone. The wallet was old (non HD) type so the change address' private key is probably lost forever, unless my friend remembers his password.
submitted by fuxoft to Bitcoin [link] [comments]

Mining but not getting paid?

Ok so this is weird started a month ago can’t seem to fix it. It shows I mine in Grin32,29 etc. it literally shows I am mining and.. keep getting new jobs. Only have have a timeout every couple mins which has happened before no big deal.... but now it won’t show it’s running them as an algorithm on IOS and they never drop bitcoin into my wallet anymore starting a month ago. The only server the seems to show up and I get paid from pretty quick is Beamv3.. can anyone please help as I loose quite a bit from this. I have tried reinstalling nicehash to driver backs. It seems to say shame accepted on beam but i don’t ever see the message on any other.. I don’t remember seeing it either. Anyways can anyone help? It started out of no where no changes to anything.. I am overclclocked but have been the whole time at same amount.. seems I get no shares from the others.. only on beam. Thank you!
submitted by Solid-Mess to NiceHash [link] [comments]

Overwhelmed!

I am not really savvy in coding. So, the sequences of letters and numbers involved are driving me a bit crazy.
Here is what I have done:
Downloaded AwesomeMiner and as a wallet, I used Electrum. Surprisingly, when I check the bitcoin reddit, these two apps are not mentioned. Am I in the wrong track?
Now, in AM app, I used SHA-256 algorithm, BFGMiner(5.4.2), as as a pool, I used bsod mining pool.
BUT, this is what I got:
> [2020-10-16 20:18:53] No devices detected!
> [2020-10-16 20:18:53] Waiting for devices
> [2020-10-16 20:18:53] Probing for an alive pool
> [2020-10-16 20:18:53] Testing pool stratum+tcp://pool.bsod.pw:3333
>
> [2020-10-16 20:18:53] No devices detected!
>
> [2020-10-16 20:18:53] Waiting for devices
>
> [2020-10-16 20:18:53] Probing for an alive pool
Mining Engine Process started, PID: 10480
Even I understand that the mining is not working at all.
Just wondering what should I do now?

However, I check out some video on the bitcoin reddit, so I will start from there.

Any advices are welcome.
submitted by Silberwolfe to BitcoinBeginners [link] [comments]

Can anyone direct me to the required reading for developing Coin Mining Software from Scratch? [thnx in advance]

I would like to go about the process of writing my own miner. It does not need to be particularly efficient, I'm not expecting to profit personally, learning and supporting decentralization of a given blockchain are reward enough.
I understand that hashing algorithm might work for and coins; but may not work for coin which uses algorithm instead. My attempts at finding guides on how to develop a bitcoin, or any other altcoin, miner have resulted in primarily spam about which hardware to buy and to just go download existing coin mining software. If I am going to be directed to an existing project anyway: I would prefer staring at the most bare bones, working, and open-source miner available.
submitted by nergalelite to CryptoCurrency [link] [comments]

AM is the worst thing out there, except for everything else........

Down to my last 99 credits. This is when you start getting the fun messages. When you spend that last credit and that profile that isn't quite too good to be true looks at you and winks.
I have met in person I think two people on AM over the past 3 years. One was not a match, and the other I thought/think we match but we haven't been able to get together again. That is a whole different level of frustration.
I have also in that time probably had another dozen that I think were real people but the conversation just petered out and they ghosted.
Also, I've had about another dozen that I believe were scams. Ultimately, looking for me to provide gift cards, bitcoin, or money to help with their visa application. Some of those conversation went on for a really long time. (What can I say, I'm talkative and lonely. Bad combination sometimes. *laugh*)
There were also a few that I believe were real but they were escorts or sugar babies. One got so grumpy in our conversation. No way to win a new customer that way. Not that I can tell her how to do business.
And then the 'what-if' messages. In general I assume a collect message is a scam. One I did respond to was actually the one I met and we were a match(at least temporarily). So being lonely and wanting that intimate human interaction(just "hey you" in the IM is pretty damn powerful), I've been actively trying to meet new people.
So today I received a wink. It was someone I had winked also after looking at their profile. They also requested my key. It is just a face pic there but I like faces so I put mine there to help someone decide if they like how I look. I granted the key request and BING, a collect message. Well I haven't had a new connection in awhile sure, let's roll the dice. What if?
"Hi love how are you doing? Hope you're enjoying your Monday!"
Sure it is a pretty plain message but hey it isn't overtly a scammer. I reply.... And waiting.... And waiting... Geeze if send more I sound desperate.... I kept an interesting friendly response. I thought everyone loves windowless vans with strangers handing out candy. Do they not like candy?
And so now I wonder. Was I bit by the algorithm that knows my level of desperation? The geek in me would love to see the data mining they do and how it determines how to best drain our credits and encourage us to buy more. I see that offer of renewing popping up as my credit balance drops and I already know I'll be buying more.
But hey, what if?
submitted by GeekyGuyAZ to adultery [link] [comments]

[OWL WATCH] Waiting for "IOTA TIME" 27;

Disclaimer: This is my editing, so there could be always some misunderstandings and exaggerations, plus many convos are from 'spec channel', so take it with a grain of salt, pls.
+ I added some recent convos afterward.
--------------------------------------------------​
📷
Luigi Vigneri [IF]어제 오후 8:26
Giving the opportunity to everybody to set up/run nodes is one of IOTA's priority. A minimum amount of resources is obviously required to prevent easy attacks, but we are making sure that being active part of the IOTA network can be possible without crazy investments.
we are building our solution in such a way that the protocol is fair and lightweight.

📷
Hans Moog [IF]어제 오후 11:24
IOTA is not "free to use" but it's - fee-less
you have tokens? you can send them around for free
📷
Hans Moog [IF]어제 오후 11:25
you have no tokens? you have to pay to use the network
📷
lekanovic어제 오후 11:25
I think it is a smart way to avoid the spamming network problem
📷
Hans Moog [IF]어제 오후 11:26
owning tokens is essentially like owning a share of the actual network
and the throughput it can process
📷
Hans Moog [IF]어제 오후 11:26****​
if you don't need all of that yourself, you can rent it out to people and earn money
📷
Hans Moog [IF]어제 오후 11:27
mana = tokens * time since you own them
simplified
📷
Hans Moog [IF]어제 오후 11:27
the longer you hold your tokens and the more you have, the more mana you have
but every now and then you have to move them to "realize" that mana
📷
lekanovic어제 오후 11:28
Is there any other project that is using a Mana solution to the network fee problem ?
📷
Hans Moog [IF]어제 오후 11:28
nah
the problem with current protocol is that they are leader based
📷
Hans Moog [IF]어제 오후 11:29
you need absolute consensus on who the current leaders are and what their influence in the network is
that's how blockchains works
📷
Hans Moog [IF]어제 오후 11:29
if two block producers produce 2 blocks at the same time, then you have to choose which one wins
and where everybody attaches their next block to
IOTA works differently and doesn't need to choose a single leader
we therefore have a much bigger flexibility of designing our sybil protection mechanisms
in a way, mana is also supposed to solve the problem of "rewarding" the infrastructure instead of the validators
in blockchain only the miners get all the money
running a node and even if it's one that is used by a lot of people will only cost
you won't get anything back
no fees, nothing
the miners get it all
📷
Hans Moog [IF]어제 오후 11:31
in IOTA, the node operators receive the mana
which gives them a share of the network throughput
📷
Hans Moog [IF]어제 오후 11:32
because in blockchain you need to decide whose txs become part of the blocks
and it's not really based on networking protocols like AIMD
📷
lekanovic어제 오후 11:33
And the more Mana your node have, the more trust your node has and you have more to say in the FPC, is that correct?
📷
Hans Moog [IF]어제 오후 11:33
yeah
a node that has processed a lot of txs of its users will have more mana than other nodes
and therefore a bigger say in deciding conflicts
its a direct measure of "trust" by its users
📷
lekanovic어제 오후 11:34
And choosing committee for dRNG would be done on L1 protocol level?
Everything regarding Mana will be L1 level, right?
📷
Hans Moog [IF]어제 오후 11:35
Yeah
Mana is layer1, but will also be used as weight in L2 solutions like smart contracts
📷
lekanovic어제 오후 11:35
And you are not dependant on using SC to implement this
📷
Hans Moog [IF]어제 오후 11:35
No, you don't need smart contracts
That's all the base layer
📷
Hans Moog [IF]어제 오후 11:37
'Time' actually takes into account things like decay
So it doesn't just increase forever
It's close to "Demurrage" in monetary theory
📷
lekanovic어제 오후 11:36
For projects to be able to connect to Polkadot or Cosmos, you need to get the state of the ledger.
Will it be possible to get the Tangle state?
If this would be possible, then I think it would be SUPER good for IOTA
📷
Hans Moog [IF]어제 오후 11:38
Yeah but polkadot is not connecting other dlts
Just inhouse stuff
📷
Hyperware어제 오후 11:39
Is there still a cap on mana so that the rich don't get richer?
📷
Hans Moog [IF]어제 오후 11:39
Yes mana is capped
📷
TangleAccountant어제 오후 11:39
u/Hans Moog [IF] My first thought is that the evolution of this renting system will lead to several big mana renting companies that pool together tons of token holders mana. That way businesses looking to rent mana just need to deal with a reliable mana renting company for years instead of a new individual every couple of months (because life happens and you don't know if that individual will need to sell their IOTAs due to personal reasons). Any thoughts on this?
📷
Hans Moog [IF]어제 오후 11:41
u/TangleAccountant yes that is likely - but also not a bad thing - token holders will have a place to get their monthly payout and the companies that want to use the tangle without having tokens have a place to pay
📷
TangleAccountant어제 오후 11:42
Oh I completely agree. That's really cool. I'll take a stab at creating one of those companies in the US.
📷
Hans Moog [IF]어제 오후 11:42
And everybody who wants to run a node themselves or has tokens and wants use the tangle for free can do so
But "leachers" that would want to use the network for free won't be able to do so
I mean ultimately there will always be "fees", as there is no "free lunch".
You have a certain amount of resources that a network can process and you have a certain demand.
And that will naturally result in fees based on supply / demand
what you can do however is to build a system where the actual users of that system that legitimately want to use it can do so for free,
just because they already "invest" enough by having tokens
or running infrastructure
they are already contributing to the well-being of the network through these two aspects alone
it would be stupid to ask those guys for additional fees
and mana essentially tries to be such a measure of honesty among the users
📷
Hyperware어제 오후 11:47
It's interesting from an investment perspective that having tokens/mana is like owning a portion of the network.
📷
Hans Moog [IF]어제 오후 11:48
Yeah, you are owning a certain % of the throughput and whatever the price will ultimately be to execute on this network - you will earn proportionally
but you have to keep in mind that we are trying to build the most efficient DLT that you could possibly ever build
📷
semibaron어제 오후 11:48
The whole mana (tokens) = share of network throuput sounds very much like EOS tbh
Just that EOS uses DPoS
📷
Hans Moog [IF]어제 오후 11:50
yeah i mean there is really not too many new things under the sun - you can just tweak a few things here and there, when it comes to distributing resources
DPoS is simply not very nice from a centralization aspect
📷
Hans Moog [IF]어제 오후 11:50
at least not the way EOS does it
delegating weights is 1 thing
but assuming that the weight will always be in a way that 21 "identities" run the whole network is bad
in the current world you see a centralization of power
but ultimately we want to build a future where the wealth is more evenly distributed
and the same goes for voting power
📷
Hans Moog [IF]어제 오후 11:52
blockchain needs leader selection
it only works with such a centralizing component
IOTA doesn't need that
it's delusional to say that IOTA wouldn't have any such centralization
but maybe we get better than just a handselected nodes 📷
📷
Phantom3D어제 오후 11:52
How would this affect a regular hodler without a node. Should i keep my tokens elsewere to generate mana and put the tokens to use?
📷
Hans Moog [IF]어제 오후 11:53
you can do whatever you want with your mana
just make an account at a node you regularly use and use it to build up a reputation with that node
to be able to use your funds for free
or run a node yourself
or rent it out to companies if you just hodl
📷
semibaron어제 오후 11:54
Will there be a build-in function into the node software / wallet to delegate ("sell") my mana?
📷
Hans Moog [IF]어제 오후 11:55
u/semibaron not from the start - that would happen on a 2nd layer
------------------------------------------------------------------------------------------------------------
📷
dom어제 오후 9:49
suddenly be incentive to hold iota?
to generate Mana
📷
Hyperware오늘 오전 4:21
The only thing I can really do, is believe that the IF have smart answers and are still building the best solutions they can for the sake of the vision
📷
dom오늘 오전 4:43
100% - which is why we're spending so much effort to communicate it more clearly now
we'll do an AMA on this topic very soon
📷
M [s2]오늘 오전 4:54
u/dom​ please accept my question for the AMA: will IOTA remain a permissionless system and if so, how?
📷
dom오늘 오전 4:57
of course it remains permissionless
📷
dom오늘 오전 5:20
what is permissioned about it?
is ETH or Bitcoin permissioned because you have to pay a transaction fee in their native token?
📷
Gerrit오늘 오전 5:24
How did your industry partners think about the mana solution and the fact they need to hold the token to ensure network throughput?
📷
dom오늘 오전 5:26
u/Gerrit considering how the infrastructure, legal and regulatory frameworks are improving around the adoption and usage of crypto-currencies within large companies, I really think that we are introducing this concept exactly at the right time. It should make enterprise partners comfortable in using the permissionless network without much of a hurdle. They can always launch their own network if they want to ...
📷
Gerrit오늘 오전 5:27
Launching their own network can’t be what you want
📷
dom오늘 오전 5:27
exactly
but that is what's happening with Ethereum and all the other networks
they don't hold Ether tokens either.
📷
Gerrit오늘 오전 5:32
Will be very exciting to see if ongoing regulation will „allow“ companies to invest and hold the tokens. With upcoming custody solutions that would be a fantastic play.
📷
Hans Moog [IF]오늘 오전 5:34
It's still possible to send transactions even without mana - mana is only used in times of congestion to give the people that have more mana more priority
there will still be sharding to keep the network free most of the time
📷
Hans Moog [IF]오늘 오전 5:35
but without a protection mechanism, somebody could just spam a lot of bullshit and you could break the network(수정됨)
you need some form of protection from this
📷
M [s2]오늘 오전 5:36
u/Hans Moog [IF] so when I have 0 Mana, I can still send transactions? This is actually the point where it got strange...
📷
Hans Moog [IF]오늘 오전 5:37
yes you can
unless the network is close to its processing capabilities / being attacked by spammers
then the nodes will favor the mana holders
📷
Hans Moog [IF]오늘 오전 5:37
but having mana is not a requirement for many years to come
currently even people having fpgas can't spam that many tps
and we will also have sharding implemented by then
📷
M [s2]오늘 오전 5:39
Thank you u/Hans Moog [IF] ! This is the actually important piece of info!
📷
Basha오늘 오전 5:38
ok, i thought it was communicated that you need at least 1 mana to process a transaction.
from the blogpost: "... a node with 0 mana can issue no transactions."
maybe they meant during the congestion**, but if that's the case maybe you should add that**
📷
Hans Moog [IF]오늘 오전 5:42
its under the point "Congestion control:"
yeah this only applies to spam attacks
network not overloaded = no mana needed
📷
Hans Moog [IF]오늘 오전 5:43
if congested => favor txs from people who have the most skin in the game
but sharding will try to keep the network non-congested most of the time - but there might be short periods of time where an attacker might bring the network close to its limits
and of course its going to take a while to add this, so we need a protection mechanism till sharding is supported(수정됨)
📷
Hans Moog [IF]오늘 오전 6:36
I don't have a particular problem with EOS or their amount of validators - the reason why I think blockchain is inferior has really nothing to do with the way you do sybil protection
and with validators I mean "voting nodes"
I mean even bitcoin has less mining pools
and you could compare mining pools to dpos in some sense
where people assign their weight (in that case hashing power) to the corresponding mining pools
so EOS is definitely not less decentralized than any other tech
but having more identities having weight in the decision process definitely makes it harder to corrupt a reasonable fraction of the system and makes it easier to shard
so its desirable to have this property(수정됨)

-------------------------------------------------

📷
Antonio Nardella [IF]오늘 오전 3:36
https://twitter.com/cmcanalytics/status/1310866311929647104?s=19
u/C3PO [92% Cooless] They could also add more git repos instead of the wallet one, and we would probably be #1 there too..
----------------------------------------------------------------------------------
Disclaimer:
I'm sorry, maybe I'm fueling some confusion through posting this mana-thing too soon,
but, instead of erasing this posting, I'm adding recent convos.
Certain things about mana seem to be not clear, yet.
It would be better to wait for some official clarification.
But, I hope the community gives its full support to IF, 'cause
there could be always some bumps along the untouched, unchartered way.
--------------------------------------------------------------------------------------
Recent Addition;

Billy Sanders [IF]오늘 오후 1:36

It's still possible to send transactions even without mana - mana is only used in times of congestion to give the people that have more mana more priority
u/Hans Moog [IF] Im sorry Hans, but this is false in the current congestion control algorithm. No mana = no transactions. To be honest, we havent really tried to make it work so that you can sent transactions with no mana during ties with no congestion, but I dont see how you can enable this and still maintain the sybil protection required. u/Luigi Vigneri [IF] What do you think?📷

Dave [EF]오늘 오후 2:19

Suggestion: Sidebar, then get back to us with the verdict.(수정됨)📷2📷

dom오늘 오후 2:27

No Mana no tx will definitely not be the case(수정됨)📷5📷7***[오후 2:28]***Billy probably means the previous rate control paper as it was written by Luigi. I'll clarify with them📷

Hans Moog [IF]오늘 오후 2:29

When was this decided u/Billy Sanders [IF] and by whom? Was this discussed at last resum when I wasnt there? The last info that I had was that the congestion control should only kick in when there is congestion?!?***[오후 2:29]***📷 📷 📷📷

Navin Ramachandran [IF]오늘 오후 2:30

Let's sidebar this discussion and return when we have agreement. Dave has the right idea

submitted by btlkhs to Iota [link] [comments]

Ways to get rich with ZYX Network

Ways to get rich with ZYX Network
Greetings! 👋🏻
2020 is likely to be the year that interest in cryptocurrencies reaches the end of 2017. Bitcoin is striving again to historic highs, and altcoins are also growing in price. Let's recall the most common ways to make money on cryptocurrencies.
🔸 Mining - the process of conducting a transaction and receiving rewards from new coins. This is one of the most popular ways to make money on cryptocurrency.
🔸 Staking - coins that work on the Proof-of-Stake algorithm are stored in the wallet, and while it is running, they bring a certain income.
🔸 Stablecoin is a cryptocurrency backed by traditional assets like US dollars.
🔸 Trading involves short-term speculation, making a lot of transactions.
🔸 Masternodes - each owner of such a server, as in the case of staking, must be the holder of a certain amount of cryptocurrency.
🏆 Ways and features of earning with ZYX Network
💰 ZYX Network is a ground-breaking PoS-based product for a wide audience. It's a crucial PoS mining and staking element for crypto enthusiasts.
💰 The ZYX team applied a significantly improved “classic” PoS algorithm, which has given a broad range of users the opportunity of participating in the network and receiving remunerations.
💰 The ZYX blockchain offers active and passive mining options. Make a deposit to your ZYX wallet in the amount of at least 1 ZYX and the mining process will start automatically. Thanks to ZYX solutions, mining can be done from any plarform.
💰 The coin is already available as a trading instrument and is traded on some exchanges, including the BitForex exchange.
💰 Also, thanks to the main strategic success factor of ZYX Network which is relying on the growth of scaling and balancing of supply and demand for funds, the coin is a great long-term investment opportunity.
🔥 Don't miss your chance, invest now: https://zyx.network/wallet.php
Learn more about the ZYX Network: https://zyx.network
https://preview.redd.it/ryco1jorykg51.jpg?width=1200&format=pjpg&auto=webp&s=6a34bfab52485c1e996bd1344e8fcc8a9f8bca5b
submitted by VS_community to zyxnetwork [link] [comments]

Zano Newcomers Introduction/FAQ - please read!

Welcome to the Zano Sticky Introduction/FAQ!

https://preview.redd.it/al1gy9t9v9q51.png?width=424&format=png&auto=webp&s=b29a60402d30576a4fd95f592b392fae202026ca
Hopefully any questions you have will be answered by the resources below, but if you have additional questions feel free to ask them in the comments. If you're quite technically-minded, the Zano whitepaper gives a thorough overview of Zano's design and its main features.
So, what is Zano? In brief, Zano is a project started by the original developers of CryptoNote. Coins with market caps totalling well over a billion dollars (Monero, Haven, Loki and countless others) run upon the codebase they created. Zano is a continuation of their efforts to create the "perfect money", and brings a wealth of enhancements to their original CryptoNote code.
Development happens at a lightning pace, as the Github activity shows, but Zano is still very much a work-in-progress. Let's cut right to it:
Here's why you should pay attention to Zano over the next 12-18 months. Quoting from a recent update:
Anton Sokolov has recently joined the Zano team. ... For the last months Anton has been working on theoretical work dedicated to log-size ring signatures. These signatures theoretically allows for a logarithmic relationship between the number of decoys and the size/performance of transactions. This means that we can set mixins at a level from up to 1000, keeping the reasonable size and processing speed of transactions. This will take Zano’s privacy to a whole new level, and we believe this technology will turn out to be groundbreaking!
If successful, this scheme will make Zano the most private, powerful and performant CryptoNote implementation on the planet. Bar none. A quantum leap in privacy with a minimal increase in resource usage. And if there's one team capable of pulling it off, it's this one.

What else makes Zano special?

You mean aside from having "the Godfather of CryptoNote" as the project lead? ;) Actually, the calibre of the developers/researchers at Zano probably is the project's single greatest strength. Drawing on years of experience, they've made careful design choices, optimizing performance with an asynchronous core architecture, and flexibility and extensibility with a modular code structure. This means that the developers are able to build and iterate fast, refining features and adding new ones at a rate that makes bigger and better-funded teams look sluggish at best.
Zano also has some unique features that set it apart from similar projects:
Privacy Firstly, if you're familiar with CryptoNote you won't be surprised that Zano transactions are private. The perfect money is fungible, and therefore must be untraceable. Bitcoin, for the most part, does little to hide your transaction data from unscrupulous observers. With Zano, privacy is the default.
The untraceability and unlinkability of Zano transactions come from its use of ring signatures and stealth addresses. What this means is that no outside observer is able to tell if two transactions were sent to the same address, and for each transaction there is a set of possible senders that make it impossible to determine who the real sender is.
Hybrid PoW-PoS consensus mechanism Zano achieves an optimal level of security by utilizing both Proof of Work and Proof of Stake for consensus. By combining the two systems, it mitigates their individual vulnerabilities (see 51% attack and "nothing at stake" problem). For an attack on Zano to have even a remote chance of success the attacker would have to obtain not only a majority of hashing power, but also a majority of the coins involved in staking. The system and its design considerations are discussed at length in the whitepaper.
Aliases Here's a stealth address: ZxDdULdxC7NRFYhCGdxkcTZoEGQoqvbZqcDHj5a7Gad8Y8wZKAGZZmVCUf9AvSPNMK68L8r8JfAfxP4z1GcFQVCS2Jb9wVzoe. I have a hard enough time remembering my phone number. Fortunately, Zano has an alias system that lets you register an address to a human-readable name. (@orsonj if you want to anonymously buy me a coffee)
Multisig
Multisignature (multisig) refers to requiring multiple keys to authorize a Zano transaction. It has a number of applications, such as dividing up responsibility for a single Zano wallet among multiple parties, or creating backups where loss of a single seed doesn't lead to loss of the wallet.
Multisig and escrow are key components of the planned Decentralized Marketplace (see below), so consideration was given to each of them from the design stages. Thus Zano's multisig, rather than being tagged on at the wallet-level as an afterthought, is part of its its core architecture being incorporated at the protocol level. This base-layer integration means months won't be spent in the future on complicated refactoring efforts in order to integrate multisig into a codebase that wasn't designed for it. Plus, it makes it far easier for third-party developers to include multisig (implemented correctly) in any Zano wallets and applications they create in the future.
(Double Deposit MAD) Escrow
With Zano's escrow service you can create fully customizable p2p contracts that are designed to, once signed by participants, enforce adherence to their conditions in such a way that no trusted third-party escrow agent is required.
https://preview.redd.it/jp4oghyhv9q51.png?width=1762&format=png&auto=webp&s=12a1e76f76f902ed328886283050e416db3838a5
The Particl project, aside from a couple of minor differences, uses an escrow scheme that works the same way, so I've borrowed the term they coined ("Double Deposit MAD Escrow") as I think it describes the scheme perfectly. The system requires participants to make additional deposits, which they will forfeit if there is any attempt to act in a way that breaches the terms of the contract. Full details can be found in the Escrow section of the whitepaper.
The usefulness of multisig and the escrow system may not seem obvious at first, but as mentioned before they'll form the backbone of Zano's Decentralized Marketplace service (described in the next section).

What does the future hold for Zano?

The planned upgrade to Zano's privacy, mentioned at the start, is obviously one of the most exciting things the team is working on, but it's not the only thing.
Zano Roadmap
Decentralized Marketplace
From the beginning, the Zano team's goal has been to create the perfect money. And money can't just be some vehicle for speculative investment, money must be used. To that end, the team have created a set of tools to make it as simple as possible for Zano to be integrated into eCommerce platforms. Zano's API’s and plugins are easy to use, allowing even those with very little coding experience to use them in their E-commerce-related ventures. The culmination of this effort will be a full Decentralized Anonymous Marketplace built on top of the Zano blockchain. Rather than being accessed via the wallet, it will act more as a service - Marketplace as a Service (MAAS) - for anyone who wishes to use it. The inclusion of a simple "snippet" of code into a website is all that's needed to become part a global decentralized, trustless and private E-commerce network.
Atomic Swaps
Just as Zano's marketplace will allow you to transact without needing to trust your counterparty, atomic swaps will let you to easily convert between Zano and other cyryptocurrencies without having to trust a third-party service such as a centralized exchange. On top of that, it will also lead to the way to Zano's inclusion in the many decentralized exchange (DEX) services that have emerged in recent years.

Where can I buy Zano?

Zano's currently listed on the following exchanges:
https://coinmarketcap.com/currencies/zano/markets/
It goes without saying, neither I nor the Zano team work for any of the exchanges or can vouch for their reliability. Use at your own risk and never leave coins on a centralized exchange for longer than necessary. Your keys, your coins!
If you have any old graphics cards lying around(both AMD & NVIDIA), then Zano is also mineable through its unique ProgPowZ algorithm. Here's a guide on how to get started.
Once you have some Zano, you can safely store it in one of the desktop or mobile wallets (available for all major platforms).

How can I support Zano?

Zano has no marketing department, which is why this post has been written by some guy and not the "Chief Growth Engineer @ Zano Enterprises". The hard part is already done: there's a team of world class developers and researchers gathered here. But, at least at the current prices, the team's funds are enough to cover the cost of development and little more. So the job of publicizing the project falls to the community. If you have any experience in community building/growth hacking at another cryptocurrency or open source project, or if you're a Zano holder who would like to ensure the project's long-term success by helping to spread the word, then send me a pm. We need to get organized.
Researchers and developers are also very welcome. Working at the cutting edge of mathematics and cryptography means Zano provides challenging and rewarding work for anyone in those fields. Please contact the project's Community Manager u/Jed_T if you're interested in joining the team.
Social Links:
Twitter
Discord Server
Telegram Group
Medium blog
I'll do my best to keep this post accurate and up to date. Message me please with any suggested improvements and leave any questions you have below.
Welcome to the Zano community and the new decentralized private economy!
submitted by OrsonJ to Zano [link] [comments]

Bitcoin and cryptocurrency mining explained - YouTube How To Start Mining Bitcoin In 5 Minutes In 2020 ... Mining Bitcoin with Excel - YouTube How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ... Probability in Bitcoin Mining: The Hashing Function

Sehr niedriger Overhead-Free-C-Code für Linux und Windows mit sehr wenig CPU-Mining und Ram-Nutzung; Stratum- und GBT-gepoolte Mining-Protokoll-Unterstützung, einschließlich Ultra-Low-Overhead-Solomining; Skalierbarer Netzwerk-Scheduler zur Skalierung auf beliebige Hash-Werte ohne Netzwerkverzögerungen bei minimalem Verbindungsaufwand SHA-3 (Secure Hash Algorithm Version 3), also called Keccak, is a unidirectional function for generating digital prints of the selected length (the standard accepts 224, 256, 384 or 512 bits) from input data of any size, developed by a group of authors led by Yoan Dimen in 2008 and adopted in 2015 as the new FIPS standard.The algorithm works by means of the mixing function with compression to ... When mining bitcoin, the hashcash algorithm repeatedly hashes the block header while incrementing the counter & extraNonce fields. Incrementing the extraNonce field entails recomputing the merkle tree, as the coinbase transaction is the left most leaf node. The block is also occasionally updated as you are working on it. I decided to see how practical it would be to mine Bitcoin with pencil and paper. It turns out that the SHA-256 algorithm used for mining is pretty simple and can in fact be done by hand. Bitcoin mining uses cryptography, with a hash function called double SHA-256. A hash takes a chunk of data as input and shrinks it down into a smaller hash value (in this case 256 bits). With a cryptographic hash, there's no way to get a hash value you want without trying a whole lot of inputs. But once you find an input that gives the value you want, it's easy for anyone to verify the hash ...

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Bitcoin and cryptocurrency mining explained - YouTube

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