Bitcoin: The magic of mining The Economist

Anyone still under the illusion of Microsoft having been transformed into a kinder, more mutually beneficial partner, please read this patent.

WO2020060606 - CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTDESCRIPTION
Before reading the following excerpts, keep this sequence of events in mind:
Master Slave (and we're not referring to HDDs here)
Step one: patent technology
Step two: sell slave IoT devices to consumers who readily purchase them especially after being promised that they'll be rewarded in cryotocurrency for their data.
Step three: collect data via Azure on unsuspecting human subjects' fMRI, EEG, body temperatures, EKG, sleep data, digitized health care information, consumer purchasing habits, reading and viewing preferences, social media activity and correlate with activities performed (tasks).
Step four: Use data to refine AI to profile human behavior, predict behavior and refine mind reading capabilities.
This article is actually incorporated in the patent!
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
Step five: Institute centralized global cryptocurrency financial system with no other alternatives in which to transact legally.
https://www.reddit.com/Bitcoin/comments/4nag4b/1988_economist_cover_predicting_a_world_currency/
https://www.economist.com/finance-and-economics/1998/09/24/one-world-one-money
Step six: To understand step six, Read George Orwell's "1984" or review the concept of an individual's freedoms being based not on the concept of natural rights but on their social credit scores.
Thank you Microsoft, Google, Apple, Amazon, Facebook.
Now the patent excerpts:
CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
BACKGROUND [0001] A virtual currency (also known as a digital currency) is a medium of exchange implemented through the Internet generally, not tied to a specific government-backed “flat” (printed) currency such as the U.S. dollar or the Euro, and typically designed to allow instantaneous transactions and borderless transfer of ownership. One example of virtual currency is cryptocurrency, wherein cryptography is used to secure transactions and to control the creation of new units. [0002] Several cryptocurrencies exist. Among these, the most well known is a blockchain-based cryptocurrency. Most blockchain-based cryptocurrency is decentralized in the sense that it has no central point of control.
However, blockchain-based cryptocurrency can also be implemented in a centralized system having a central point of control over the cryptocurrency.
Bitcoin is one of the examples of blockchain-based cryptocurrency. It is described in a 2008 article by Satoshi Nakamoto, named“Bitcoin: A peer-to-Peer Electronic Cash System”.
[0003] A blockchain is a data structure that stores a list of transactions and can be thought of as a distributed electronic ledger that records transactions between source identifier(s) and destination identifier(s). The transactions are bundled into blocks and every block (except for the first block) refers back to or is linked to a prior block in the blockchain. Computer resources (or nodes, etc.) maintain the blockchain and cryptographically validate each new block and the transactions contained in the corresponding block. This validation process includes computationally solving a difficult problem that is also easy to verify and is sometimes called a“proof-of-work”. This process is referred to as“mining”. The mining may be a random process with low probability so that a lot of trial and error is required to solve a computationally difficult problem. Accordingly, the mining may require enormous amounts of computational energy. [0004] It is with respect to these and other general considerations that the following embodiments have been described. Also, although relatively specific problems have been discussed, it should be understood that the embodiments should not be limited to solving the specific problems identified in the background.
SUMMARY
[0005] Some exemplary embodiments of the present disclosure may use human body activity associated with a task provided to a user as a solution to“mining” challenges in cryptocurrency systems. For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process. Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously. Accordingly, certain exemplary embodiments of the present disclosure may reduce computational energy for the mining process as well as make the mining process faster.
[0006] Systems, methods, and hardware aspects of computer readable storage media are provided herein for a cryptocurrency system using human body activity data. According to various embodiments of the present disclosure, a server may provide a task to a device of a user which is communicatively coupled to the server. A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user. A cryptocurrency system communicatively coupled to the device of the user may verify whether or not the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.
[0007] Examples are implemented as a computer process, a computing system, or as an article of manufacture such as a device, computer program product, or computer readable medium. According to one aspect, the computer program product is a computer storage medium readable by a computer system and encoding a computer program comprising instructions for executing a computer process. [0008] This summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
decentralized cryptocurrency networks or databases.
[0021] FIG. 1 illustrates an example environment 100 in which some exemplary embodiments of the present disclosure may be practiced. The example environment 100 includes, but is not limited to, at least one of task server 110, communication network 120, user device 130, sensor 140, and cryptocurrency system 150. [0022] Task server 110 may provide one or more tasks to user device 130 over communication network 120. For example, task server 110 may be at least one of a web server delivering or serving up web pages, an application server handling application operations between users and applications or databases, a cloud server, a database server, a file server, a service server, a game server implementing games or services for a game, and a media server delivering media such as streaming video or audio. The tasks provided by task server 110 will be discussed in more detail below.
[0023] Alternatively, cryptocurrency system 150 may provide one or more tasks to user device 130. For example, in a decentralized cryptocurrency network, the tasks may be proposed to user device 130 by miners (e.g. compute resources or nodes 210 of FIG. 2). In another example, in a centralized cryptocurrency system, a cryptocurrency server may send the tasks to user device 130.
[0024] Communication network 120 may include any wired or wireless connection, the internet, or any other form of communication. Although one network 120 is identified in FIG. 1, communication network 120 may include any number of different communication networks between any of the server, devices, resource and system shown in FIGS. 1 and 2 and/or other servers, devices, resources and systems described herein. Communication network 120 may enable communication between various computing resources or devices, servers, and systems. Various implementations of communication network 120 may employ different types of networks, for example, but not limited to, computer networks, telecommunications networks (e.g., cellular), mobile wireless data networks, and any combination of these and/or other networks. [0025] User device 130 may include any device capable of processing and storing data/information and communicating over communication network 120. For example, user device 130 may include personal computers, servers, cell phones, tablets, laptops, smart devices (e.g. smart watches or smart televisions). An exemplary embodiment of user device 130 is illustrated in FIG. 6.
[0026] Sensor 140 may be configured to sense the body activity of user 145. As illustrated in FIG. 1, sensor 140 may be a separate component from user device 130 and be operably and/or communicatively connected to user device 130. Alternatively, sensor 140 may be included and integrated in user device 130. For example, user device 130 may be a wearable device having sensor 140 therein. The sensor 140 may transmit information/data to user device 130. Sensor 140 may include, for example, but not limited to, functional magnetic resonance imaging (fMRI) scanners or sensors, electroencephalography (EEG) sensors, near infrared spectroscopy (NIRS) sensors, heart rate monitors, thermal sensors, optical sensors, radio frequency (RF) sensors, ultrasonic sensors, cameras, or any other sensor or scanner that can measure or sense body activity or scan human body. For instance, the fMRI may measure body activity by detecting changes associated with blood flow. The fMRI may use a magnetic field and radio waves to create detailed images of the body (e.g. blood flow in the brain to detect areas of activity). The material (http://news.berkely.edu/20l l/09/22/brain-movies/) shows one example of how the fMRI can measure brain activity associated with visual information and generate image data.
[0027] Cryptocurrency system 150 may include one or more processors for processing commands and one or more memories storing information in one or more cryptocurrency data structures. In some embodiments, cryptocurrency system 150 may be a centralized cryptocurrency system or network, for example, but not limited to, a server which may be privately run by a third party entity or the same entity that is running the task server 110. In other embodiments, cryptocurrency system 150 may be a publically accessible network system (e.g., a distributed decentralized computing system).
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
WO2020060606 - CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTDESCRIPTION
Applicants * MICROSOFT TECHNOLOGY LICENSING, LLC[US/US]; One Microsoft Way Redmond, Washington 98052-6399, US
CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
BACKGROUND [0001] A virtual currency (also known as a digital currency) is a medium of exchange implemented through the Internet generally, not tied to a specific government-backed “flat” (printed) currency such as the U.S. dollar or the Euro, and typically designed to allow instantaneous transactions and borderless transfer of ownership. One example of virtual currency is cryptocurrency, wherein cryptography is used to secure transactions and to control the creation of new units. [0002] Several cryptocurrencies exist. Among these, the most well known is a blockchain-based cryptocurrency. Most blockchain-based cryptocurrency is decentralized in the sense that it has no central point of control.
However, blockchain-based cryptocurrency can also be implemented in a centralized system having a central point of control over the cryptocurrency.
Bitcoin is one of the examples of blockchain-based cryptocurrency. It is described in a 2008 article by Satoshi Nakamoto, named“Bitcoin: A peer-to-Peer Electronic Cash System”.
[0003] A blockchain is a data structure that stores a list of transactions and can be thought of as a distributed electronic ledger that records transactions between source identifier(s) and destination identifier(s). The transactions are bundled into blocks and every block (except for the first block) refers back to or is linked to a prior block in the blockchain. Computer resources (or nodes, etc.) maintain the blockchain and cryptographically validate each new block and the transactions contained in the corresponding block. This validation process includes computationally solving a difficult problem that is also easy to verify and is sometimes called a“proof-of-work”. This process is referred to as“mining”. The mining may be a random process with low probability so that a lot of trial and error is required to solve a computationally difficult problem. Accordingly, the mining may require enormous amounts of computational energy.
[0004] It is with respect to these and other general considerations that the following embodiments have been described. Also, although relatively specific problems have been discussed, it should be understood that the embodiments should not be limited to solving the specific problems identified in the background.
SUMMARY
[0005] Some exemplary embodiments of the present disclosure may use human body activity associated with a task provided to a user as a solution to“mining” challenges in cryptocurrency systems. For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process. Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously. Accordingly, certain exemplary embodiments of the present disclosure may reduce computational energy for the mining process as well as make the mining process faster.
[0006] Systems, methods, and hardware aspects of computer readable storage media are provided herein for a cryptocurrency system using human body activity data. According to various embodiments of the present disclosure, a server may provide a task to a device of a user which is communicatively coupled to the server. A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user. A cryptocurrency system communicatively coupled to the device of the user may verify whether or not the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.
[0007] Examples are implemented as a computer process, a computing system, or as an article of manufacture such as a device, computer program product, or computer readable medium. According to one aspect, the computer program product is a computer storage medium readable by a computer system and encoding a computer program comprising instructions for executing a computer process.
[0008] This summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
decentralized cryptocurrency networks or databases. [0021] FIG. 1 illustrates an example environment 100 in which some exemplary embodiments of the present disclosure may be practiced. The example environment 100 includes, but is not limited to, at least one of task server 110, communication network 120, user device 130, sensor 140, and cryptocurrency system 150.
[0022] Task server 110 may provide one or more tasks to user device 130 over communication network 120. For example, task server 110 may be at least one of a web server delivering or serving up web pages, an application server handling application operations between users and applications or databases, a cloud server, a database server, a file server, a service server, a game server implementing games or services for a game, and a media server delivering media such as streaming video or audio. The tasks provided by task server 110 will be discussed in more detail below.
[0023] Alternatively, cryptocurrency system 150 may provide one or more tasks to user device 130. For example, in a decentralized cryptocurrency network, the tasks may be proposed to user device 130 by miners (e.g. compute resources or nodes 210 of FIG. 2). In another example, in a centralized cryptocurrency system, a cryptocurrency server may send the tasks to user device 130.
[0024] Communication network 120 may include any wired or wireless connection, the internet, or any other form of communication. Although one network 120 is identified in FIG. 1, communication network 120 may include any number of different communication networks between any of the server, devices, resource and system shown in FIGS. 1 and 2 and/or other servers, devices, resources and systems described herein. Communication network 120 may enable communication between various computing resources or devices, servers, and systems. Various implementations of communication network 120 may employ different types of networks, for example, but not limited to, computer networks, telecommunications networks (e.g., cellular), mobile wireless data networks, and any combination of these and/or other networks.
[0025] User device 130 may include any device capable of processing and storing data/information and communicating over communication network 120. For example, user device 130 may include personal computers, servers, cell phones, tablets, laptops, smart devices (e.g. smart watches or smart televisions).
An exemplary embodiment of user device 130 is illustrated in FIG. 6.
[0026] Sensor 140 may be configured to sense the body activity of user 145. As illustrated in FIG. 1, sensor 140 may be a separate component from user device 130 and be operably and/or communicatively connected to user device 130. Alternatively, sensor 140 may be included and integrated in user device 130. For example, user device 130 may be a wearable device having sensor 140 therein. The sensor 140 may transmit information/data to user device 130. Sensor 140 may include, for example, but not limited to, functional magnetic resonance imaging (fMRI) scanners or sensors, electroencephalography (EEG) sensors, near infrared spectroscopy (NIRS) sensors, heart rate monitors, thermal sensors, optical sensors, radio frequency (RF) sensors, ultrasonic sensors, cameras, or any other sensor or scanner that can measure or sense body activity or scan human body. For instance, the fMRI may measure body activity by detecting changes associated with blood flow. The fMRI may use a magnetic field and radio waves to create detailed images of the body (e.g. blood flow in the brain to detect areas of activity). The material (http://news.berkely.edu/20l l/09/22/brain-movies/) shows one example of how the fMRI can measure brain activity associated with visual information and generate image data.
[0027] Cryptocurrency system 150 may include one or more processors for processing commands and one or more memories storing information in one or more cryptocurrency data structures. In some embodiments, cryptocurrency system 150 may be a centralized cryptocurrency system or network, for example, but not limited to, a server which may be privately run by a third party entity or the same entity that is running the task server 110. In other embodiments, cryptocurrency system 150 may be a publically accessible network system (e.g., a distributed decentralized computing system).
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
submitted by snowboardnirvana to MVIS [link] [comments]

Microsoft patents scheme to usher in technocratic fascism via data from IoT sensor devices and centralized cryptocurrency system

WO2020060606 - CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTDESCRIPTION
Before reading the following excerpts, keep this sequence of events in mind:
Master Slave (and we're not referring to HDDs here)
Step one: patent technology
Step two: sell slave IoT devices to consumers who readily purchase them especially after being promised that they'll be rewarded in cryotocurrency for their data.
Step three: collect data via Microsoft Azure on unsuspecting human subjects' fMRI, EEG, body temperatures, EKG, sleep data, digitized health care information, consumer purchasing habits, reading and viewing preferences, social media activity and correlate with activities performed (tasks).
Step four: Use data to refine AI to profile human behavior, predict behavior and refine mind reading capabilities.
This article is actually incorporated in the patent!
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
Step five: Institute centralized global cryptocurrency financial system with no other alternatives in which to transact legally.
https://www.reddit.com/Bitcoin/comments/4nag4b/1988_economist_cover_predicting_a_world_currency/
https://www.economist.com/finance-and-economics/1998/09/24/one-world-one-money
Step six: To understand step six, read George Orwell's "1984" or review the concept of an individual's freedoms being based not on the concept of natural rights but on their social credit scores.
Thank you Microsoft, Google, Apple, Amazon, Facebook.
Now the patent excerpts:
CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA BACKGROUND [0001] A virtual currency (also known as a digital currency) is a medium of exchange implemented through the Internet generally, not tied to a specific government-backed “flat” (printed) currency such as the U.S. dollar or the Euro, and typically designed to allow instantaneous transactions and borderless transfer of ownership. One example of virtual currency is cryptocurrency, wherein cryptography is used to secure transactions and to control the creation of new units. [0002] Several cryptocurrencies exist. Among these, the most well known is a blockchain-based cryptocurrency. Most blockchain-based cryptocurrency is decentralized in the sense that it has no central point of control.
However, blockchain-based cryptocurrency can also be implemented in a centralized system having a central point of control over the cryptocurrency.
Bitcoin is one of the examples of blockchain-based cryptocurrency. It is described in a 2008 article by Satoshi Nakamoto, named“Bitcoin: A peer-to-Peer Electronic Cash System”.
[0003] A blockchain is a data structure that stores a list of transactions and can be thought of as a distributed electronic ledger that records transactions between source identifier(s) and destination identifier(s). The transactions are bundled into blocks and every block (except for the first block) refers back to or is linked to a prior block in the blockchain. Computer resources (or nodes, etc.) maintain the blockchain and cryptographically validate each new block and the transactions contained in the corresponding block. This validation process includes computationally solving a difficult problem that is also easy to verify and is sometimes called a“proof-of-work”. This process is referred to as“mining”. The mining may be a random process with low probability so that a lot of trial and error is required to solve a computationally difficult problem. Accordingly, the mining may require enormous amounts of computational energy.
[0004] It is with respect to these and other general considerations that the following embodiments have been described. Also, although relatively specific problems have been discussed, it should be understood that the embodiments should not be limited to solving the specific problems identified in the background.
SUMMARY
[0005] Some exemplary embodiments of the present disclosure may use human body activity associated with a task provided to a user as a solution to“mining” challenges in cryptocurrency systems.
For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process. Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously. Accordingly, certain exemplary embodiments of the present disclosure may reduce computational energy for the mining process as well as make the mining process faster.
[0006] Systems, methods, and hardware aspects of computer readable storage media are provided herein for a cryptocurrency system using human body activity data. According to various embodiments of the present disclosure, a server may provide a task to a device of a user which is communicatively coupled to the server. A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user. A cryptocurrency system communicatively coupled to the device of the user may verify whether or not the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.
[0007] Examples are implemented as a computer process, a computing system, or as an article of manufacture such as a device, computer program product, or computer readable medium. According to one aspect, the computer program product is a computer storage medium readable by a computer system and encoding a computer program comprising instructions for executing a computer process.
[0008] This summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter. decentralized cryptocurrency networks or databases.
[0021] FIG. 1 illustrates an example environment 100 in which some exemplary embodiments of the present disclosure may be practiced. The example environment 100 includes, but is not limited to, at least one of task server 110, communication network 120, user device 130, sensor 140, and cryptocurrency system 150.
[0022] Task server 110 may provide one or more tasks to user device 130 over communication network 120. For example, task server 110 may be at least one of a web server delivering or serving up web pages, an application server handling application operations between users and applications or databases, a cloud server, a database server, a file server, a service server, a game server implementing games or services for a game, and a media server delivering media such as streaming video or audio. The tasks provided by task server 110 will be discussed in more detail below.
[0023] Alternatively, cryptocurrency system 150 may provide one or more tasks to user device 130. For example, in a decentralized cryptocurrency network, the tasks may be proposed to user device 130 by miners (e.g. compute resources or nodes 210 of FIG. 2). In another example, in a centralized cryptocurrency system, a cryptocurrency server may send the tasks to user device 130.
[0024] Communication network 120 may include any wired or wireless connection, the internet, or any other form of communication. Although one network 120 is identified in FIG. 1, communication network 120 may include any number of different communication networks between any of the server, devices, resource and system shown in FIGS. 1 and 2 and/or other servers, devices, resources and systems described herein. Communication network 120 may enable communication between various computing resources or devices, servers, and systems. Various implementations of communication network 120 may employ different types of networks, for example, but not limited to, computer networks, telecommunications networks (e.g., cellular), mobile wireless data networks, and any combination of these and/or other networks. [0025] User device 130 may include any device capable of processing and storing data/information and communicating over communication network 120. For example, user device 130 may include personal computers, servers, cell phones, tablets, laptops, smart devices (e.g. smart watches or smart televisions). An exemplary embodiment of user device 130 is illustrated in FIG. 6.
[0026] Sensor 140 may be configured to sense the body activity of user 145. As illustrated in FIG. 1, sensor 140 may be a separate component from user device 130 and be operably and/or communicatively connected to user device 130. Alternatively, sensor 140 may be included and integrated in user device 130. For example, user device 130 may be a wearable device having sensor 140 therein. The sensor 140 may transmit information/data to user device 130. Sensor 140 may include, for example, but not limited to, functional magnetic resonance imaging (fMRI) scanners or sensors, electroencephalography (EEG) sensors, near infrared spectroscopy (NIRS) sensors, heart rate monitors, thermal sensors, optical sensors, radio frequency (RF) sensors, ultrasonic sensors, cameras, or any other sensor or scanner that can measure or sense body activity or scan human body. For instance, the fMRI may measure body activity by detecting changes associated with blood flow. The fMRI may use a magnetic field and radio waves to create detailed images of the body (e.g. blood flow in the brain to detect areas of activity).
The material (http://news.berkely.edu/20ll/09/22/brain-movies/) shows one example of how the fMRI can measure brain activity associated with visual information and generate image data.
[0027] Cryptocurrency system 150 may include one or more processors for processing commands and one or more memories storing information in one or more cryptocurrency data structures. In some embodiments, cryptocurrency system 150 may be a centralized cryptocurrency system or network, for example, but not limited to, a server which may be privately run by a third party entity or the same entity that is running the task server 110. In other embodiments, cryptocurrency system 150 may be a publically accessible network system (e.g., a distributed decentralized computing system).
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
submitted by snowboardnirvana to conspiracy [link] [comments]

r/MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER

MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER
MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER
https://preview.redd.it/9rycme1mdgr41.jpg?width=200&format=pjpg&auto=webp&s=30c55fb3ff8b3705726a04109797063a26798798
Roger Ver, is one of the five founders of the bitcoin foundation. You could say he was ahead of his time, buying $25,000 worth of bitcoin when they were merely $1 each. He was the first major investor to invest millions in Blockchain.info, Ripple, Kraken, and Bitpay among others. Now he wants Bitcoin Cash, a fork of the legacy chain, to be used as a global P2P currency, and says it can scale just like Satoshi first laid out in the original Bitcoin whitepaper. -------------------------------------------------------------- Bitcoincash.org Rank: #5 Current Price: $257.65 Market Cap : $4,741,042,759 24 hour trading volume : 1.741 Billion USD -------------------------------------------------------------- Hi Roger, first and foremost, I wanted to thank you for taking the time to do this. You are truly a pioneer in the Bitcoin space, and all of us owe you a debt of gratitude. On behalf of all of us, I wanted to say thank you for advancing the space.
1. First, I want you to take a moment and appreciate how far bitcoin and cryptocurrency has come this past decade. Did you ever believe you would see such growth, interest, and adoption in such a short period of time or has it completely surprised you?
We always over estimate the amount of progress that will be made in the short term, but underestimate the amount of progress that will be made in the long term.
Crypto currency is another example of that.
2. At what point did it hit you that bitcoin was history in the making?
From the very first day I knew it was one of the most important inventions in the history of humankind.
The book Digital Gold goes over how I literally had to go to the emergency room because of the excitement I had for Bitcoin.
3. How did you first get into bitcoin, pre Bitinstant?
I first heard about it on the FreeTalkLive.com radio show.
A full history of the early years is covered well by Digital Gold.
4 .What economists and philosophers do you align with?
I think Murray Rothbard fits into both categories and his thinking influenced mine more than any other single author.
Others who have influenced me would include:
Adam Smith
Ludwig von Mises
Milton Friedman
David Friedman
John Locke
Henry Hazlitt
Frederick Bastiat
Larked Rose
Ray Kurzweil
6. What has been your favorite moment in crypto history thus far?
My favorite moments were reading the underlying philosophy behind the Silk Road.
The government has done an amazing job distorting and smearing the underlying message behind the site.
My eyes started to tear up when I read this post on the front page of the Silk Road for the fist time:
https://www.reddit.com/Anarcho_Capitalism/comments/29diyt/defcons_latest_post_on_silk_road/?sort=top
I never bought or sold a single thing there, but I spent countless enjoyable hours reading their forums and exploring the site.
7. What are your future plans for Bitcoin Cash?
It isn’t just a hobby, it’s a global revolt. We will become money for the world.
8. Branding is so important. Bitcoin currently has greater brand recognition a la Coca-Cola, and is regarded by many as the “real” Bitcoin, even though this is widely disputed, especially by crypto-fundamentalists. Do you envision a Coca-Cola vs. Pepsi type scenario? Do you envision parity price-wise between the two on a long enough timeline?
Bitcoin Cash has more utility than BTC, so in the long run it will have a larger market cap. Currently we are in the era when Myspace was bigger than Facebook, but Myspace’s servers were being over loaded and causing a bad user experience.
Eventually people migrated to Facebook and eventually people will migrate away from BTC.
8. a) Have you ever thought of re-branding Bitcoin Cash?
No one is in control to do such a thing by themselves. The community can’t even agree on orange vs green for the colors.
9. Bitcoin Cash has the potential to truly be used as a global form of payment rather than merely a store of value, what else excites you the most about the potential of Bitcoin Cash?
  1. Fast
  2. Cheap
  3. Reliable
  4. Private
Payments for the world. That’s all we need.
10. I asked Adam Back the same question: If you could remove yourself from the equation, and remove bias, how would you objectively evaluate the pros and cons of Bitcoin Cash versus The Lightning Network?
Anyone can permissionlessly start using BCH to start sending or receiving payments world wide in about 30 seconds. (The time it takes to download an app)
It is accepted by more than 100,000 websites around the world, and has millions of users.
Lightning Network would take about a full day to setup and get working permissionlessly, and would take several hundred dollars of additional computer hardware.
Once it is setup, you can spend it at about 300 websites world wide, and it has maybe a few tens of thousands of users.
11. When you’re not working, what do you like to do for fun? Favorite hobbies?
I enjoy reading, and Brazilian Jujitsu. I’m especially interested in doing more competitions before I get too old.
12. What are a few of your favorite books? What are some that have made a long lasting impact on you? (Can be fiction or nonfiction)
I loved the Age of Spiritual Machines. It painted a picture of how exciting the world is going to be thanks to More’s Law.
I also loved The Moon is a Harsh Mistress. I see crypto currency being a world life parallel.
13. What are you most excited about for the future of blockchain technology and where do you see the space in 5 years?
I’m excited to see wide spread wallets with strong privacy, and more agorism starting to take place around the world.
14. What are your personal theories of who Satoshi was / were, what was their motivation, and do you think something like bitcoin would have inevitably been created eventually, had Satoshi never existed?
I don’t know who Satoshi is or was, but it was clear they were trying to build a peer to peer electronic cash system, not what BTC has become today.
It was an inevitability that someone would create something like Bitcoin eventually. People like David Friedman and others had been writing about it for decades in advance.
15. What advice would you give our viewers regarding blockchain, business, motivation, or life in general?
Read more books. Reading a book like having a one on one tutoring session from the author. It’s the best way to learn directly from the greatest minds the human race has ever produced.
BONUS:
If you were a director and could make only one film out of all the wild stories regarding crypto, what subject matter would you choose and why?
The Silk Road because it embodied the spirit of peer to peer cash and voluntaryism.
submitted by blindedzeppelin to mainstreetcrypto [link] [comments]

The crypto market’s correlation with traditional markets (by Robert Aron Zawiasa)

https://medium.com/@Zawiasa/the-crypto-markets-correlation-with-traditional-markets-79e8209a6d8
At the time of Corona virus and the — not so related — economic meltdown, many questions the correlation between the virtual economy of cryptocurrencies and the “trad” one.
Why is it such an important question? For many years crypto evangelists predicted Bitcoin as a new safe-haven, the “digital gold”. — Oh boy, they were wrong.
The correlation is not imaginary, trad market players now have significant capital in cryptocurrency and when they need to pull liquidity to cover fiat liabilities, they just do it. The reason for the steep drop in % terms is because the BTC market is not liquid enough at this point in time.
Is it a problem? A heresy of the crypto evangelion?
A heresy for sure, but not a problem at all. Let’s be honest and admit it: The crypto community found nothing unusual in the recent price-drops. I, myself even shorted the market, because crypto is still full of promises but lacking adoption.
Okay, so they are correlating and crypto is full of shit and scammy and basically the same, right?
Not so! Do you remember the times when we had to wait days for a transaction? Paying with wire transfer for something in China was insanely expensive? When merchants preferred cash over credit cards, because of high fees? When you had to hire a broker for investing?
Those times are gone and yes, not because of crypto solved these problems, but crypto definitely accelerated this transformation, urged the financial world to change rules or die. Now what if I say, this is only the beginning and these are only entry-level benefits of what really crypo promises?

Crypto promises us the “digital America”

Uh, I said it. Crypto is the new land and all the resourceful wants their own pieces of it. The reason behind why so many are thinking about Bitcoin as the digital gold is because the digital America’s gold rush is happening now. We all know deep in our consciousness that the world is heavily changing, the youth is changing, society is being digitalized even if brain-computer interfaces are not a thing yet..
Damn son you are weird and I stopped reading here.
The reason you feel weird about our descendants living online is because you know it will happen, but stay in the present now and I will tell you what crypto is doing to our traditional economy!

What is the “crypto dream”?

Many of the early adopters joined not because they wanted to make money, but because they think the current money system is unfair. Common citizens are paying the highest on almost everything and most of the time they don’t know about it. The financial sector’s practices are so hidden, almost like an occult knowledge. There are a few people who understand it and then there are everyone else, the vulnerable. This makes the first statement of the dream:
One of my biggest frustration as a teenager was I did not see real good opportunities in the world. I read about them, I saw them in historical movies, but in reality workplaces were boring and abusive, investments were only for the rich. Neither the booming housing market or fake forex trading seemed like a good fit for me. I had very little money, but a big passion to forge my fortune.
The wolves of Wall Street created our current system in the ideology of “I own what I could acquire” and backfired each other just like everyone did. They have done this, because there is no trust in the traditional world, but trust is heavily needed. But if things are transparent and open, we only need one more thing to wake up from this nightmare:
You read it right, a trustless environment provide uncheatable cooperation. There is no single entity that has authority over the system, and consensus is achieved without participants having to know or trust anything but the system itself.
I don’t eat your utopian bullshit! Your software is written by people I still need to trust.
People tend to be happier to direct trust towards organizations than systems. However, while organizations are made up of people who are easily corruptible, trustless systems can be governed entirely by computer code. All of the source code in crypto should be accessible to everyone. If it is not, then it is not a part of our ecosystem.

The technology behind crypto

Many being confused about the blockchain, thinking it is not a big deal. We had many software far older than Bitcoin, implementing the very same ideas. What Bitcoin had — which made the blockchain a very unique thing — is philosophy. It was intended to use a special way and confronted a very big thing, nobody thought it could be possible to confront.
The blockchain is a way to store information. A decentralized, fully transparent one, which is accessible for everyone 7/24. It never stops, It cannot be stopped and people make it doing different things.
The first use case its inventor made it doing is persisting transactions, money transfers. He told all of us it is just an experiment, which he didn’t tell is the capabilities of this technology. So fast people realized it is possible to do extraordinary things with it, like running a whole computer on the blockchain, making it behave like a virtual computer instance.
No one did things like this before: A global computer which cannot be stopped, which is capable to run all kinds of software on it.

What was the impact?

People go mad about it, especially greedy people who don’t know a bum about the technology but have money to pour in. At one point, the fundraising softwares running on the Ethereum global computer had more impact and volume than the whole VC industry in America. This was only the early rising of crypto, 2017 spring. Later that year, everyone hopped on the train who were brave or stupid enough.
Did crypto had a real economy at that point? Was it an industry? Real-world adoption? NOPE
It was a bitter funny hype train, challenging everyone inside or outside the community, but it showed us one thing: We have the gold.
Not so much people are capable to find and extract gold, to be honest: Most of us are just lurkers, fortune hunters and times could be rough when a mass hype destructs all the mines, but people had keep going, continuing the work.

How the crypto economy relates to the traditional economy now?

It is expanding much faster than any other economy in the world. Our frontiers in adoption are companies like Crypto.com paying hundred millions of dollars ($50 bonus for every new customer) to onboard millions of users, others like Coinbase paying $166 anyone to motivate in learning about cryptocurrencies. Handshake is airdropping hundreds of dollars (on current rates) to open-source developers and these are just a few examples of how generous and prosperous our thriving world is. In comparison: Revolut, a fintech company which is very similar to Crypto.com only paid 10 USD for new card holders and no one would ever pay you to educate yourself about financials. Developers? They historically get a fraction of a fraction of the pie in Silicon Valley. (Sorry Y Combinator, you are a delightful exception)
These companies I mentioned are very traditional ones and they are not innovating in software, but keeping our gates open to the new world. I don’t want to credit here any of the thousands of developer teams, all working on the “real deal”. I only leave here a link to the list of all variants of the Bitcoin source code alone. Understanding what blockchain companies are working on is a whole new profession now.
The idea of a crypto company is the DAO (Decentralized Autonomous Organization). Which covers trustless, often anonymous and fully transparent organizations with profit sharing and they are aimed to become better alternatives to traditional companies. Most of us in the community have different understanding, proposals and hopes about what a DAO should be, but common sense tell us it is the next big thing to emerge.

Wild West is Happening

We are building railway systems across the land, making connections and interoperations between blockchains. We are attracting a lot of immigrants day-to-day, because we have better paying workplaces, better interest rates and in overall a flourish economy. We are growing a strong identity to support our nation as the blockchain developers, economists, philosophers and investors. Our money is under our control as we own our future and all of us knows: We will soon show the world, what we are capable to achieve.
This is my view of the crypto world. This is the manifesto of “digital America”.
RAZ
contact me at zawiasa.hu
submitted by ZGenKibernetika to u/ZGenKibernetika [link] [comments]

Top World Cryptocurrency Events

Blockchain sphere spread to offline for a long time ago. If you are tired of searching for crypto forums, contests and other events to visit, SwapSpace has already picked up information about the most popular huge crypto events worldwide.
We find out TOP annual events. Check out the list and just choose the most suitable one to go.
  1. Blockchain EXPO
Is Europe’s largest annual international Blockchain Conference
About
Blockchain EXPO is one of the largest blockchain conferences and exhibitions in Europe dedicated to the future of corporate technology.
Leading experts of blockchain industry will give presentations, case studies in the field of the latest technologies and interactive group discussions will be presented. Seminars will also be held on research in the industries that will be most affected by this new technology, including legal sector, trade and real estate, financial services, healthcare, insurance, and much more, and even art.
Thematic blocks of the event include cryptocurrency and financial services, Blockchain for enterprises, businesses, Blockchain platform and strategies, development of Blockchain apps & technologies, Blockchain seminars; as well as a zone of innovation and investors.
Within two days, the event will feature top-level content from leading world brands in the field of advanced blockchain technologies.
It is worth noting that the Blockchain EXPO event is held in collab with IoT Tech Expo, 5g, AI & Big Data Expo and Cyber ​​Security & Cloud Expo, which you can learn about several technologies at once in one place.
500+ Speakers
Among them: John Calian, Senior Vice President | Head of T-Labs & The Blockchain Group | Deutsche Telekom AG;
Andrei Bolocan, Technology Specialist Supply Chain | The HEINEKEN Company;
Arwen Smit, EMEA Lead Mobility Open Blockchain Initiative | MOBI,
Dimitri De Jonghe Co-Founder | Head of Research BigchainDB | Ocean Protocol, Michelle Chivunga Chair — International Committee The British Blockchain Association.
Next Event: 1–2 JULY | 2020 | Amsterdam, Netherlands.
  1. Blockchain Life
Blockchain Life is another one of the largest in Europe international forums dedicated to cryptocurrencies, mining and blockchain at all.
About
Annually, the forum becomes the largest and most significant event of the blockchain industry in Europe.
The forum brings together world leaders and those who are just starting to become interested in the industry of blockchains and cryptocurrencies. It gathers up to 6000 participants from more than 70 countries.
Blockchain Life units world industry leaders, miners, business owners, blockchain developers, investors. It is a platform not only for professionals but for beginners also.
During 3 years of its existence, the forum became an international platform for the development of hundreds industry companies, a place for meeting market leaders with government officials, for the contracts conclusion that influences the global technology development.
Forum also includes Startup contest, where you can show your project and find investors.
Speakers
Among them: Felix Mago, co-founder Dash;
Roger Ver, CEO bitcoin.com;
Xinxi Wang, manager Litecoin Foundation;
Tim Draper, venture capitalist, founder of Draper Associates, DFJ & Draper University and others.
The last event was recent, 15–17 OCTOBER | 2019 | Moscow, Russia.
Next Event: next year, somewhere in Europe.
  1. The North American Bitcoin Conference
About
TNABC is one of the most important crypto meetups. The conference is dedicated to a wide range of topics, in particular, blockchain technologies, ICO specifics, features of Bitcoin and Ethereum, token sale mechanisms, investment and regulation.
Over the course of two days, speakers present their reports in 20-minute slots. Among them are the world most famous speakers, including CEOs, investors, government officials.
In a spacious exhibition hall, conference participants will be able to meet and chat with representatives of the most influential companies that set the tone in the cryptocurrency sphere.
Speakers 150+ speakers, among them: Harry Yen, Managing Director Binary Financial;
Jeff Mackdonald, Co-founder NEM Foundation;
Colleen Sullivan, Partner & CEO CMT Digital;
Vitalik Buterin, Co-founder Ethereum; and others.
Next Event: 15–17 JANUARY | 2020 | USA, Miami.
  1. Next Block Conference
About
NEXT BLOCK is one of the most popular annual worldwide crypto events, which include various programs every year.
NEXT BLOCK ASIA 2.0 “Affiliate Marketing in the Crypto Age” will be dedicated to CRYPTO and AFFILIATE. At the event, experts will discuss synergies and prospects for 2020. In addition, you can be represented in the exhibition area, where you will have the opportunity to show yourself to young professionals and move up the career ladder.
The conference lasts one day, followed by the AW event, which will be dedicated to affiliate marketing, gambling and contracts in the Crypto era, and will include discussions leading to the mega event.
At the event, experts raise the most relevant topics and each participant can take part in solving the problem.
This is an opportunity to communicate with movers and shakers of both crypto and partner worlds.
Speakers: 500+, among them:
Neo Say Wei, Chief Executive Officer — Neo & Partners Global and RF International Holdings; Giacomo Arcaro, №1 European ICO Growth Hacker, ICO STO Advisor, University Professor;
Felix Mago, Co-Founder of Dash Thailand;
Eloisa Marchesoni, Europe n. 1 Token Model Architect;
Itay Adam Owner of Adam Tech Media and product launch campaigner.
Next Event: DECEMBER, 3 | 2020 | Bangkok, Thailand.
  1. Blockchain Live
About
Blockchain Live is an innovative festival of content and collaboration that brings together a fragmented ecosystem to hold meaningful discussions and debates about how best to expedite the global implementation of blockchain.
Festival includes 5 Content Stages: Business Summit, Tech Connect Stage, Future Finance Stage, Crypto Impact Stage, GovChain Stage.
Festival program will provide an open-plan educational and networking environment that allows for more hands-on training, meaningful discussion and face-to-face meetings between participants and exhibitors, and will lead an honest discussion about the problems and benefits.
Unlike many other blockchain events, Blockchain Live does not dilute its content with joint technology demonstrations or overly crypto-oriented content. Instead, Blockchain Live focuses solely on the business potential of blockchain & DLT, encouraging conversations and debates about blockchain technology, while at the same time allowing hype and challenging critics to educate, improve their skills and direct long-term thinking on the strategic benefits of blockchain for business, governments and societies.
Speakers
Lucie Munier, Lead Project Manager | GovChain Research
Naeem Aslam, Columnist | Forbes
Nadeem Ladki, Director of Business Development | Ripple
Caroline Casey, VP, Innovation, Partnerships and Labs — Europe | Mastercard
Don Tapscott, Blockchain Live Festival Headliner — Co-Founder & Executive Chairman | Blockchain Research Institute, Co-Author Blockchain Revolution
Next Event: AUTUMN | 2020 | London, United Kingdom. The date would be announced soon.
  1. Devcon
Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
About
Devcon is an annual event held by the Ethereum Foundation. For new explorers of the Ethereum space, Devcon is an intensive introduction to new worlds of thought. For those already embedded, it is a family reunion and a source of energy and creativity.
Programming covers content ranging from the deeply technical to the profoundly human. This is a conference for builders of all kinds: developers, designers, researchers, client implementers, test engineers, infrastructure operators, community organizers, social economists and artists.
We host Devcon to educate and empower the community to build and use decentralized systems. Our goal is to push the boundaries of possibility in our mission to bring decentralized protocols, tools, and culture to the world.
Speakers:
Vitalik Buterin, Creator Ethereum | Ethereum Foundation,
Audrey Tang, Taiwan Digital Minister,
Micah White, Co-Creator of Occupy Wall Street | Activist Grad School,
Zoë Hitzig, PhD candidate in Economics | Harvard,
Andreea Minca, Associate Professor | Cornell University.
The last event was on October 8–11, 2019 at ATC Hall 2 Chome 1–10 Nankokita, Suminoe Ward. Osaka, Japan.
Next Event: Next year, the date would be determined later.
There are much more large crypto contests and festivals, and it’s almost impossible to select it by particular criteria, so we chose the most outstanding events to give you the ability to determine the most suitable for you.
List of hugest crypto events
If you still haven’t decided what the event you’re gonna visit, you can have a look at the list of events from CoinMarketCap: https://coinmarketcap.com/events/
So, now you’ll probably find the most suitable event for you. Stay with SwapSpace, check out for the hot news.

SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to SwapSpace [link] [comments]

Top World Cryptocurrency Events

Blockchain sphere spread to offline for a long time ago. If you are tired of searching for crypto forums, contests and other events to visit, SwapSpace has already picked up information about the most popular huge crypto events worldwide.
We find out TOP annual events. Check out the list and just choose the most suitable one to go.
  1. Blockchain EXPO
Is Europe’s largest annual international Blockchain Conference
About
Blockchain EXPO is one of the largest blockchain conferences and exhibitions in Europe dedicated to the future of corporate technology.
Leading experts of blockchain industry will give presentations, case studies in the field of the latest technologies and interactive group discussions will be presented. Seminars will also be held on research in the industries that will be most affected by this new technology, including legal sector, trade and real estate, financial services, healthcare, insurance, and much more, and even art.
Thematic blocks of the event include cryptocurrency and financial services, Blockchain for enterprises, businesses, Blockchain platform and strategies, development of Blockchain apps & technologies, Blockchain seminars; as well as a zone of innovation and investors.
Within two days, the event will feature top-level content from leading world brands in the field of advanced blockchain technologies.
It is worth noting that the Blockchain EXPO event is held in collab with IoT Tech Expo, 5g, AI & Big Data Expo and Cyber ​​Security & Cloud Expo, which you can learn about several technologies at once in one place.
500+ Speakers
Among them: John Calian, Senior Vice President | Head of T-Labs & The Blockchain Group | Deutsche Telekom AG;
Andrei Bolocan, Technology Specialist Supply Chain | The HEINEKEN Company;
Arwen Smit, EMEA Lead Mobility Open Blockchain Initiative | MOBI,
Dimitri De Jonghe Co-Founder | Head of Research BigchainDB | Ocean Protocol, Michelle Chivunga Chair — International Committee The British Blockchain Association.
Next Event: 1–2 JULY | 2020 | Amsterdam, Netherlands.
  1. Blockchain Life
Blockchain Life is another one of the largest in Europe international forums dedicated to cryptocurrencies, mining and blockchain at all.
About
Annually, the forum becomes the largest and most significant event of the blockchain industry in Europe.
The forum brings together world leaders and those who are just starting to become interested in the industry of blockchains and cryptocurrencies. It gathers up to 6000 participants from more than 70 countries.
Blockchain Life units world industry leaders, miners, business owners, blockchain developers, investors. It is a platform not only for professionals but for beginners also.
During 3 years of its existence, the forum became an international platform for the development of hundreds industry companies, a place for meeting market leaders with government officials, for the contracts conclusion that influences the global technology development.
Forum also includes Startup contest, where you can show your project and find investors.
Speakers
Among them: Felix Mago, co-founder Dash;
Roger Ver, CEO bitcoin.com;
Xinxi Wang, manager Litecoin Foundation;
Tim Draper, venture capitalist, founder of Draper Associates, DFJ & Draper University and others.
The last event was recent, 15–17 OCTOBER | 2019 | Moscow, Russia.
Next Event: next year, somewhere in Europe.
  1. The North American Bitcoin Conference
About
TNABC is one of the most important crypto meetups. The conference is dedicated to a wide range of topics, in particular, blockchain technologies, ICO specifics, features of Bitcoin and Ethereum, token sale mechanisms, investment and regulation.
Over the course of two days, speakers present their reports in 20-minute slots. Among them are the world most famous speakers, including CEOs, investors, government officials.
In a spacious exhibition hall, conference participants will be able to meet and chat with representatives of the most influential companies that set the tone in the cryptocurrency sphere.
Speakers 150+ speakers, among them: Harry Yen, Managing Director Binary Financial;
Jeff Mackdonald, Co-founder NEM Foundation;
Colleen Sullivan, Partner & CEO CMT Digital;
Vitalik Buterin, Co-founder Ethereum; and others.
Next Event: 15–17 JANUARY | 2020 | USA, Miami.
  1. Next Block Conference
About
NEXT BLOCK is one of the most popular annual worldwide crypto events, which include various programs every year.
NEXT BLOCK ASIA 2.0 “Affiliate Marketing in the Crypto Age” will be dedicated to CRYPTO and AFFILIATE. At the event, experts will discuss synergies and prospects for 2020. In addition, you can be represented in the exhibition area, where you will have the opportunity to show yourself to young professionals and move up the career ladder.
The conference lasts one day, followed by the AW event, which will be dedicated to affiliate marketing, gambling and contracts in the Crypto era, and will include discussions leading to the mega event.
At the event, experts raise the most relevant topics and each participant can take part in solving the problem.
This is an opportunity to communicate with movers and shakers of both crypto and partner worlds.
Speakers: 500+, among them:
Neo Say Wei, Chief Executive Officer — Neo & Partners Global and RF International Holdings; Giacomo Arcaro, №1 European ICO Growth Hacker, ICO STO Advisor, University Professor;
Felix Mago, Co-Founder of Dash Thailand;
Eloisa Marchesoni, Europe n. 1 Token Model Architect;
Itay Adam Owner of Adam Tech Media and product launch campaigner.
Next Event: DECEMBER, 3 | 2020 | Bangkok, Thailand.
  1. Blockchain Live
About
Blockchain Live is an innovative festival of content and collaboration that brings together a fragmented ecosystem to hold meaningful discussions and debates about how best to expedite the global implementation of blockchain.
Festival includes 5 Content Stages: Business Summit, Tech Connect Stage, Future Finance Stage, Crypto Impact Stage, GovChain Stage.
Festival program will provide an open-plan educational and networking environment that allows for more hands-on training, meaningful discussion and face-to-face meetings between participants and exhibitors, and will lead an honest discussion about the problems and benefits.
Unlike many other blockchain events, Blockchain Live does not dilute its content with joint technology demonstrations or overly crypto-oriented content. Instead, Blockchain Live focuses solely on the business potential of blockchain & DLT, encouraging conversations and debates about blockchain technology, while at the same time allowing hype and challenging critics to educate, improve their skills and direct long-term thinking on the strategic benefits of blockchain for business, governments and societies.
Speakers
Lucie Munier, Lead Project Manager | GovChain Research
Naeem Aslam, Columnist | Forbes
Nadeem Ladki, Director of Business Development | Ripple
Caroline Casey, VP, Innovation, Partnerships and Labs — Europe | Mastercard
Don Tapscott, Blockchain Live Festival Headliner — Co-Founder & Executive Chairman | Blockchain Research Institute, Co-Author Blockchain Revolution
Next Event: AUTUMN | 2020 | London, United Kingdom. The date would be announced soon.
  1. Devcon
Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
About
Devcon is an annual event held by the Ethereum Foundation. For new explorers of the Ethereum space, Devcon is an intensive introduction to new worlds of thought. For those already embedded, it is a family reunion and a source of energy and creativity.
Programming covers content ranging from the deeply technical to the profoundly human. This is a conference for builders of all kinds: developers, designers, researchers, client implementers, test engineers, infrastructure operators, community organizers, social economists and artists.
We host Devcon to educate and empower the community to build and use decentralized systems. Our goal is to push the boundaries of possibility in our mission to bring decentralized protocols, tools, and culture to the world.
Speakers:
Vitalik Buterin, Creator Ethereum | Ethereum Foundation,
Audrey Tang, Taiwan Digital Minister,
Micah White, Co-Creator of Occupy Wall Street | Activist Grad School,
Zoë Hitzig, PhD candidate in Economics | Harvard,
Andreea Minca, Associate Professor | Cornell University.
The last event was on October 8–11, 2019 at ATC Hall 2 Chome 1–10 Nankokita, Suminoe Ward. Osaka, Japan.
Next Event: Next year, the date would be determined later.
There are much more large crypto contests and festivals, and it’s almost impossible to select it by particular criteria, so we chose the most outstanding events to give you the ability to determine the most suitable for you.
List of hugest crypto events
If you still haven’t decided what the event you’re gonna visit, you can have a look at the list of events from CoinMarketCap: https://coinmarketcap.com/events/
So, now you’ll probably find the most suitable event for you. Stay with SwapSpace, check out for the hot news.

SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CryptoCurrencies [link] [comments]

Is Karatbit and Karatbars a scam?

On Tuesday 16th July, just a few weeks ago I was invited to attend a Karatbit, Karatbars/Karatbank presentation. The presentation was touting everything including a blockchain mobile phone. Someone had approached me over the weekend to investigate an investment, they had made with Karatbit/Karatbars. I attended the presentation with some research which, to be honest, was not that favourable to the company but nevertheless still went with an open mind.
KaratBank, a Singapore-based financial organization, has propelled another digital currency that it claims is bound to real physical gold. Is this a progressive thought – or a trick?
KaratBank, an organization located in Singapore, has quite recently declared the dispatch of KaratBank Coins (KBC), another digital currency it said is attached to gold. Be that as it may, not just the cost of gold, as different monetary forms — to real bits of gold: they're embedded in plastic cards or banknotes. In any event, that is the way it appears upon first sight.
KaratBank is a sister company of KaratBars International, located in Germany. KaratBars really sells gold in exceptionally small quantities (like 0.1g to 1g bullions), inserted into plastic cards (Karatbars) or money like notes (CashGold). The notes are famously overpriced: back when 1 gram of gold was $40, the 1g CashGold note cost $65.
As per KaratBank whitepaper, 10,000 KBC can be traded for 0.1g CashGold notes.
The initial coin offering kicked off earlier this year and proceeded until March 21, with the ICO starting March 22 (1 KBC = $0.05), Coin Telegraph reports.
Be that as it may, KaratBars International as an organization is emphatically connected with scams. A basic search for KaratBars on Google returns three connections with the word "scam" in them on the first page. KaratBars was prohibited in Canada in 2014 over an Autorité des marchés agents (AMF) with a Scam warning.
The Canadian government found that KaratBars executes some kind of multi-layered marketing (MLM), or "pyramid" scheme organisation that urged individuals to get new recruits and profit from their sales, promising a return of $15,000 to $136,000 every month.
In any case, Is KaratBank is a different story? All things considered, yes and no. Upon a more intensive look at the organization's whitepaper, one finds the following:
"United States of America citizens, residents (tax or otherwise) or green card holders, as well as residents of Canada, the People's Republic of China or the Republic of Singapore, are not qualified to partake in the KaratBank ICO."
As indicated by the Behind MLM site, the explanation behind this may lie in the way that those nations have actualized strict regulation on ICOs, and KaratBank does not have any desire to have anything to do with them.
"ICOs are not unlawful in the US or Canada. In the US, however, ICOs are ordinarily viewed as securities and require registration with the [Securities and Exchange Commission]," the site reads. "Singapore hasn't prohibited ICOs however it is one of the nations KaratBars International works in through the shell companies KaratPay and KaratBars Singapore. Singapore regulators closing those organizations down would cripple KaratBars International. The board most likely figure it's best not to take any risks."
To work lawfully in any purview, KaratBars International would need to register itself with the proper securities regulator in that jurisdiction, which the organization appears to need to abstain from, raising doubts.
From one's point of view what is disheartening is that blockchain is a great new technology and companies like this seem to mix their existing business with cryptocurrencies. Knowing full well that the general public does not really understand cryptocurrencies, let alone blockchain or Distributed Ledger Technology (DLT). As a blockchain consultant, one feels obligated to pose some questions anyone thinking of getting involved should be asking.
At the presentation, I heard the presenters say “ Karatbars is giving its members the opportunity to buy gold in small quantities. They also encourage you to save in gold instead of paper money. This can easily be done by buying as little as 0.1 gram of gold or 1 gram - 2.5 gram or 5 grams.”
They said members can keep their gold in Karatbars' vault or ask them to send it to you. Cash gold is the most popular form of buying gold as the gold is embedded in a banknote. 24kt gold 99.9% pure makes it easier for anyone to accumulate wealth.
Karatbars is also involved in cryptocurrency and got their own coins, namely KBC and KCB coins. I'm going to get very deep into this, but the main thing to remember is that they say, “these coins are increasing in value and that it is backed by gold”. whereas and another Cryptocurrency is backed by nothing.
As a self-proclaimed proponent of blockchain and a graduate of Digital Forensics, I feel obligated to say a few words about this presentation on Karatbit or at least as a conscious citizen of this global world of technology users. Blockchain is a magnificent emerging technology that can be harnessed to do so many things. But most importantly it is a technology that provides one single source of truth. If groups are using this single source of truth technology to spread untruths, someone concerned must come out to say something. Blockchain is a technology that can put everyone on an even playing field but it seems very few understand it. The individuals with even the fleeting basic understanding can influence the general public perception of cryptocurrencies. This leads me to ask a great quote from a book called Richest Man in Babylon …. “if you want advice on investing in expensive jewels, why would you go to a butcher?”
The following is what the masses are being manipulated to attach their hopes and dreams. It is that “a further drop in the value of Bitcoin and other cryptocurrencies has recently left investors nursing heavy losses. Many proponents are holding out for a new breakout “if their digital assets can go mainstream.”
The most important part of that statement is “if their digital assets can go mainstream”. This made me ask some questions about Karatbit and this is what I came up with.
Something is fishy!! Can someone clarify the following?
Claim 1: Gold mine worth $900 million provides security.
Can’t find any official source as proof.
Reference: https://www.youtube.com/watch?v=TyKQIckXyIU
Claim 2: Backed by a gold mine in Africa
Can’t find any official source as proof.
Reference: https://www.youtube.com/watch?v=d5Q3ZvR4b04
Claim 3: Audit report by MM Revisors for a gold mine in Madagascar
Can’t find proof that MM Revisors exists. Not sure if this report was published by Karatbars Int (can’t find it on their official website), but this is being circulated by some investors as if it were.
Reference: https://karatbars-me.webnode.es/\_files/200000070-01d6002d18/audit.pdf
Claim 4: Karatcoin Bank is a fully licensed crypto bank and is situated in Miami
Can’t find proof that they are registered as a licensed financial institute in Miami, Florida.
Can’t find Karatcoin Bank as a registered corporation, but found Karat Coin Corp.
Reference: http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResults?inquiryType=EntityName&searchNameOrder=KARATBANK&searchTerm=Karatbank
Reference: https://www.youtube.com/watch?v=YXip2Fizz5U&t=152s
Claim 5: Not a pyramid scheme
Karatbit describes this as an affiliate program but clearly is a pyramid scheme at best, see links below;
Canada: https://www.newswire.ca/news-releases/karatbars-quebec-activities-covered-by-prohibition-orders-514201571.html
Namibia: https://economist.com.na/43874/extra/karatbars-international-is-a-scamsays-central-bank/
Netherlands: https://www.afm.nl/en/nieuws/2014/mei/waarschuwing-karatbars
Claim 6: 100KBC = 1g of Gold at $40 per gram (1 KBC = $0.40) (guaranteed)
Total supply = 12,000,000,000 KBC (can’t find figures of circulating, so using supply instead)
Total gold needed to cover buy back of all coins:
12,000,000,000 / 100 = 120 000 000g = 120 tons (South Africa as a whole produced 139.9 tons of Gold in 2017).
Total money needed to buy back all the coins:
120 000 000g x $40 = $4.8 Billion
Can’t find proof that they have 120 tons of gold in storage (or backed up by the mines as claimed) or that they are at least worth $4.8 Billion to buy the gold?
Taking a more conservative approach:
According to icobench.com, they raised $100 000 000 with their ICO from 60% of the total supply.
Let’s assume the 60% of 12,000,000,000 is in circulation. This equals to 7,200,000,000 KBC.
Total gold needed for the buyback of 7,200,000,000 KBC:
7,200,000,000 / 100 = 72 000 000g = 72 tons
Total money needed to buy back all coins:
72 000 000g x $40 = $2.88 Billion
Loss for buying back the KBC that were sold during the ICO:
$100,000,000 - $2,880,000,000 = - $2,780,000,000
A potential loss of $2,78 Billion!!! Or am I taking crazy pills?
Reference: https://www.youtube.com/watch?v=KgeHjhlMfn0
Reference: https://icobench.com/ico/karatgold-coin
Claim 7: This Forbes.com article gives credibility to the KBC coin
This article was written by a Contributor.
Reference: https://www.forbes.com/sites/joresablount/2019/05/31/10-blockchain-companies-to-watch-in-2019/#308b507e543f
There is no traditional editing of contributors’ copy, at least not prior to publishing. If a story gets hot or makes the homepage, a producer will “check it more carefully,” DVorkin said.
Reference: https://www.poynter.org/reporting-editing/2012/what-the-forbes-model-of-contributed-content-means-for-journalism/
“Blogging for Forbes requires being what is commonly referred to as a "self-starter."
So far, nobody has said, "Um, you can't do that," or, "Oh, my God, no!"
Reference: https://www.forbes.com/sites/susannahbreslin/2011/04/06/how-to-become-a-forbes-blogge#231bb9972862
“Warning over 'scammers paradise' as watchdog reveals victims lost £27m to bitcoin, cryptocurrency and forex frauds last year”
• Some 1,850 cases were reported to Action Fraud, a 250% increase on 2017-18
• Victims lost an average of £14,600 - with fewer than 1 in 20 getting money back
• Investors are often initially told they've made a profit
• They are then encouraged to put in more money - at which point the fraudsters run off with their cash
Potential victims have been warned over bogus online 'get rich quick' schemes as it emerged people lost more than £27million to cryptocurrency and foreign exchange scams last year.
Fraudsters promise high returns to those who invest, according to Action Fraud and the Financial Conduct Authority.
Victims lost an average of £14,600 in 2018-19 and stand little chance of getting their money back.
Reports of cryptocurrency and forex investment scams increased by nearly 250 per cent in 2017-18, from 530 to nearly 1,850.
The scams work by criminals promoting get-rich-quick online trading platforms through social media. Posts often use fake celebrity endorsements and images of luxury items like expensive watches and cars.
Beat the scammers:
These then link to professional-looking websites where consumers are persuaded to invest.
Often investors are led to believe their first investment has successfully returned a profit, and are then enticed to invest more money or introduce friends in return for greater profits.
But the returns stop, the customer account is closed, and the scammer disappears with no further contact.
'Anyone handing over their hard-earned cash should make sure they understand what they're getting into, they've checked it's a legitimate investment, and not rely on hype and excitement from friends or social media.
'Investing isn't a get-rich-quick scheme - and anything that uses fear of missing out or requires you to invest before thinking is best to be avoided.'
Those considering an investment to check the following for tips on how to avoid investment fraud at www.fca.org.uk/scamsmart.
Scammers can be very convincing so always do your own research into any firm you are considering investing with, to make sure that they are the real deal.
'It's vital that people carry out the necessary checks to ensure that an investment they're considering is legitimate.
UK consumers are being increasingly targeted by crypto asset-related investment scams.
Certain crypto assets, like Bitcoin and Ether (also known as cryptocurrencies), are not regulated in the UK. This means that buying, selling or transferring these crypto-assets falls outside FCA remit. The same is true for the operation of a cryptocurrency exchange.
However, some types of crypto-asset products may be or may involve regulated investments depending on their nature and how they are structured. For example, firms that sell regulated investments with an underlying crypto asset element may need to be authorised by the FCA to do so.
In recent months, the FCA claims it has received an increasing number of reports about crypto-asset investment scams. Some of them may involve regulated activities, others don’t, but all use similar tactics.
How crypto-asset investment scams work
Cryptoasset fraudsters tend to advertise on social media – often using the images of celebrities or well-known individuals to promote cryptocurrency investments. In this case, laughably they said KaratBit was endorsed by Barak Obama’s sister. Who is she and what does she know about cryptocurrencies and blockchain? The ads then link to professional-looking websites. Consumers are then persuaded to make investments with the firm using cryptocurrencies or traditional currencies.
The firms operating the scams are usually based outside the UK but will claim to have a UK presence, often a prestigious City of London address.
Scam firms can manipulate software to distort prices and investment returns. They may scam people into buying the non-existent crypto asset. They are also known to suddenly close consumers’ online accounts and refuse to transfer the funds to them or ask for more money before the funds can be transferred.
Action Fraud has also issued a warning on cryptocurrency scams.
How to protect yourself
Be wary of adverts online and on social media promising high returns on investments in a crypto asset or crypto asset-related products.
Most firms advertising and selling investments in crypto-assets are not authorised by the FCA. This means that if you invest in certain crypto assets you will not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if things go wrong.
The FCA doesn’t regulate crypto assets like Bitcoin or Ether which are vastly the most recognized cryptocurrencies, let alone KBC, they do regulate certain crypto-asset derivatives (such as futures contracts, CFDs and options), as well as those crypto assets I would consider securities. A firm must be authorised by FCA to advertise or sell these products in the UK – check FCA Register to make sure the firm is authorised. You can also check the FCA Warning List of firms to avoid.
You should do further research on the product you are considering and the firm you are considering investing with. Check with Companies House to see if the firm is registered as a UK company and for directors' names. To see if others have posted any concerns, search online for the firm's name, directors' names and the product you are considering.
If you’ve already decided you want to invest in gold, this might not be a bad company to side with. But if you’re just looking for an opportunity to earn a sustainable income and become financially independent, there are better options out there.
submitted by fourfingaz to u/fourfingaz [link] [comments]

Long-run favors BTC over BCH, here's why...

There are many reasons why BTC will remain the gold standard and not BCH.
BTC Advantages over BCH:
BCH has:
I have been watching Bitcoin for a long time, and the main thing I've learned is don't overreact to flashes in the pan, weak hands, and anytime a "panic" is happening. What really pays in the long-run is sticking with things that have a proven track record, a high quality set of software engineers and computer scientists, and a critical mass of ecosystem. Nothing compares to Bitcoin in these regards!!
Bitcoin has a very bright future ahead!
submitted by fortunative to Bitcoin [link] [comments]

The Blockchain Industry

Hello!
My name is Alexey Adylshin, I am backend developer at Platinum, the largest listing service provider for the STO and ICO projects. We know how to start ICO/STO campaign in 2019 and make it successful!
Already planning your own campaign?
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Platinum.fund
We not only make cool promotions, but also develop fundamental courses for those who are willing to know all about crypto-economics. That’s why we created the UBAI, where you can learn how to do STO/ICO and become real professional!
Today I want to tell you about popular ICO business modules and blockchain use cases.
Trust & Reputation in the Blockchain Industry
Personal trust matters a lot in the Blockchain Industry. The investors, team members, advisors or exchange staff may know each other from working together on other projects. It is important you conduct yourself in a professional manner and treat people the way you want to be treated. Maybe we can say the crypto world was first populated by computer geeks and cypherpunks in hoodies. And that is perfectly okay; but it surely has evolved since then. The culture is more complex today. Serious money is involved. Sophisticated investors and money managers command large pools of capital. Everyone has expectations of an appropriate degree of professionalism. Your reputation, behavior, and character are important. You clearly want to distinguish yourself from any of the scammers and frauds in the Blockchain industry.
Major Roles in the Blockchain Industry
There are many specific job titles in the industry. We will focus on the major ones. But you will most likely wear a few different hats anyway. Just like in the real world, you will have to do different jobs at different times. Broadly speaking, there are seven major roles in the Blockchain Industry relating to ICOs: -Legal. -Marketing/PR. -Accounting. -Financial. -Business Development. -Advisors. -Technical Experts. There are of course many other roles covering every imaginable area, just as in the traditional world. But it is most important to focus on roles as they relate to ICOs.
Legal
In the blockchain industry, it is the responsibility of legal to ensure compliance with all contractual and statutory requirements in each jurisdiction. Even though it can be said that crypto and blockchain are still unregulated in some cases, and inappropriately/ineffectively regulated by traditional banking or securities laws in other cases, there are significant and unavoidable legal implications of using blockchain technology. Consider the digital enabled signature legislation. This enables digital signatures to be recognized internationally, thereby validating and authenticating transactions. Nevertheless, some transactions are still accompanied by other legal documents as well. Someone must be responsible for any such legal functions. And someone must also perform as an advocate and representative for the project. The legal advisor will typically come from a background of legal practice in his or her own jurisdiction. They can often provide a bridge to the traditional business world. Lawyers are generally paid just as well in Blockchain as they are in traditional business, though they probably have greater freedom and flexibility in here in crypto.
Marketing/PR
The role of Marketers and PR professionals closely mirror that of real world marketers and PR pros. Their primary role is to increase public awareness about the ICO project, and shape the narrative of the company. Primarily they will highlight the key benefits of the company solution and ensure this information is presented to the most important people. Marketing/PR in the crypto world is almost entirely digital. Social Media, Telegram Channels, Medium Blog Posts, Email Marketing, etc. are all the main forums and means of professional communication in crypto. Marketing/PR individuals are typically compensated based on their experience and contribution to the company. A marketer who is able to demonstrate significant upticks in engagement, investor interest, etc. will of course be paid well. Marketers who command a valuable audience will demand a greater fee. This role is one of the most sought-after and well-paid, due to the great amount of “noise” considered appropriate in the cryptocurrency industry.
Accounting
Accounting roles are responsible for managing company finances, just like in traditional business. They do all bookkeeping work involving cryptocurrency transactions, as well as basic fiat currency transactions, and any exchange interactions and other transactions. Projects utilize major accounting software like QuickBooks, software which allows for computerized accounting, and payroll professionals, to perform regular tasks involving invoices, sales, purchasing records, and balance sheet reporting. Just like in a traditional organization, the accounting team monitors and maintains records of all financial transactions and investments. They ensure that specified budgets are followed and expenses are not surpassed. In so doing, they keep project expenses in-line with company objectives. They also might identify or evaluate business opportunities, and advise the project team about such investment ideas. They will often be compensated based upon experience and the significance of their particular contribution to the project.
Financial
A financial role in an ICO company can be one of the most engaging, but can come with great responsibility. Your role will focus predominantly on the management of company finances. That is a purposely general description because it is a position that covers a broad range of responsibilities. One day you might be coordinating with the founders and the business development advisors about the business model and the direction of the project. The next day you may be helping the founders explain to seed investors why you need capital to remain solvent. Then you may be tasked with investing the funds raised from the ICO into other cryptocurrencies to diversify the risk profile of the company finances. In the traditional market, finance jobs are very well remunerated. In the cryptocurrency space, you are of course rewarded based on your experience and contribution. However, the amount of responsibility you take, and your ability to be flexible and quick on your feet, can often command premium compensation.
Business Development
Blockchain business development professionals perform a variety of roles, typically structured around strategy and business ideas. Business development individuals will usually collaborate with every member of the team. Their contribution is not strictly defined by any kind of tangible work, such as writing code or producing graphic design, but rather by the idea of creating a general direction and manner in which the business can achieve its vision. They are responsible for structuring the company’s model, its roll-out plans and key objectives along the timeline. Often the founders of the company will be the ones to focus on Business Development because they have the strongest grasp of the magnitude and nuances of the project and its product. Business Development professionals also are often remunerated based on relevant experience, and their contribution to the project.
Advisors
Businesses that intend to launch new blockchain projects frequently seek guidance from more experienced advisors. These are people who can offer first-hand information, direction and contact with relevant parties. This kind of advice and ability to give you introductions can be crucial to the success of your project. The role of advisors cannot be easily overstated. The title may sound vague and ambiguous, because it is. But it is a role that covers a lot of very important areas. An ICO might have great financial wizards on its team. They might be incredibly talented at creating their unique product, ecosystem and solution. They have their Blockchain technical expert who can replicate and create the system on the Blockchain to anchor their project. But without effective marketing, without connections to investors, traditional companies, and governments, the whole project is dead in the water. Advisors play a crucial role. It is a role that should be appreciated, and used for all it is worth. In the Blockchain industry, we broadly define and divide advisors into two major categories, Portfolio Advisors and Domain Experts.
Major Roles in the Blockchain Industry
Portfolio Advisors : Would not contribute strategy or give serious feedback as much as help facilitate good personal interaction with the press and other key partners. A Portfolio Advisor can also be an invaluable conduit to explain things to investors or the press. The Advisor is a good person to explain team decisions in the event of both good and bad news. Crypto and Blockchain projects use advisors to improve their business reputation and industry image, and to make their ICO company appear more serious and professional than it would otherwise appear. As mentioned, the advisor does not necessarily do any actual work such as coding. The Portfolio Advisor is more of a figurehead and professional conduit for the ICO, with a wide range of advisory functions and roles. Compensation for the Portfolio Advisor is often directly proportional to the specific utility to the company or the size of the role. An advisor who brings in half of your ICO funding in pre-sale will of course demand a much larger fee than someone who simply connects you with a few partners who might possibly be useful sometime in the future. A good advisor can earn up to tens of thousands of dollar, or even more.
On the other hand, Domain Experts provide the kind of input you would expect. They give practical and strategic direction to help the business be more successful and achieve its objectives in a timely fashion. These advisors can be expert in Cryptocurrency or expert in another related specialty. Typically, Domain Experts will already have significant exposure to the cryptocurrency industry, and a valuable understanding of how things operate. Although, due to the rapid growth in the industry, there are many new advisors and experts specifically brought in for a particular reason, so it may in fact be their first interaction with a Blockchain company. Domain Experts could have experience as diverse as healthcare, finance or gaming. Generally speaking, their contribution to the team will be focused solely within their area of expertise. As with Portfolio Advisors, Domain experts are compensated based on their experience and specific contribution to the project. But many ICOs will try to bring the two roles together. They will ask a well-known, highly-regarded Domain Expert to also appear on the website and help build the overall professionalism and reputation for their project, just like the Portfolio Advisor would do, as well as contribute their Domain Expert knowledge to the project.
Technical Experts
Did you know that there are certified blockchain experts (CBE)? The Blockchain Council is a certifying body that helps businesses, developers, and all interested individuals to become educated about the Blockchain industry. Technical Experts are specialists with in-depth knowledge and understanding of what the Blockchain is and how it can be utilized by businesses to maximize their potential. They are often the individuals who design the framework of the Blockchain solution, write the associated code, and debug as necessary. These experts are also able to certify other individuals in the Blockchain discipline of Distributed Ledger Technology from a vendor-neutral perspective. One of the most notable technical experts in the Blockchain network, is the well-known creator of Ethereum, Vitalik Buterin. Vitalik Buterin created Ethereum, and ETH, the world’s second most valuable, massively traded cryptocurrency. In 2011, the team founded the Bitcoin magazine which publishes information about the Blockchain technology.
Exchanges
While not a part of our original list of positions and functions, Exchanges perform a central role with every ICO and Blockchain solution. If you are an ICO company and want to facilitate a market for your token (you always do, your investors will demand it) then you need the exchanges to provide this service. Exchanges, as we have discussed before, provide the market, the liquidity and the compliance with the necessary regulation/KYC requirements. After the ICO fundraising has been completed, the company’s token/coin begins trading on an exchange. Working on an exchange is another important career option in crypto that should not be overlooked. Exchange professionals may not earn as much as some of the other positions, (unless they also own an equity stake in the exchange), but they are still well-compensated for their technical knowledge and the sensitive nature of their job.
The Interaction of the Roles
People in all of the positions and roles we are talking about will need to work together and communicate with each other at various times. To start and grow a company from an idea or vision, to a tangible thing, is quite a tricky feat. Sometimes the technical experts will need to sit down and explain something to the business developers. The marketers might need clarification how the underlying technology works. Similar to real-world business, something many of us already know from experience, the management structure of a company plays a large role in how people in different positions interact while performing their jobs. If the company is particularly hierarchical, management might insist on going through specific touchpoints when sharing information, thereby allowing management to add their own input. Other companies will be comfortable with marketers and technical developers just speaking amongst themselves to achieve the agreed upon end goals of the business. Cryptocurrency projects often tend to become a special collection of especially talented people from all over the world. Management takes on a somewhat different role in the cryptocurrency space. It is important when you start on a project to be clear about how you should communicate with other team members, the channels of communication and the expected manner of interaction too. Some teams prefer to keep things quite informal, sharing gifs and memes to each other, while others prefer conversation on company channels and a strictly professional style.
Pre, During & Post ICO Business Roles Pre-ICO Launch
This period is the same for all new companies. This is when the foundation of the business is formed. The idea is validated. Initial development begins, and the team is assembled to start building the company. For an ICO destined company, this period includes where the idea is placed upon the Blockchain, and the use case created. Ideally, the idea should require the Blockchain to function, or at the very least, require Blockchain technology as the most suitable option. One of the first things an investor should do when they look at your project, is evaluate the need for a Blockchain solution. That is exactly what you should do first too. Your team should thoroughly inspect all possible technology options to equip your business with the best framework or “backbone”. You should look to justify the positives and negatives of each framework before landing on the most suitable solution. For an ICO, this needs to be a Blockchain based solution.
Pre-ICO Launch
The next step is of course researching the competition. With so many ICOs recently it is important to consider who else is active in this space. Who has had or done the same idea before? How is your company different? Why should someone invest money in your company, in your idea, as opposed to the other available options? You should then identify the major challenges your business is going to face. The application of Blockchain technology is so wide and organic to a lot of industries, it’s important to fully analyze and develop your idea for the real world. Do not just assume the Blockchain is going to do anything you want and solve every problem for you. After identifying your needs and challenges, the next step is to look for information about Blockchain technology that does solve your specific problem. This is often a combination of a few different roles working together. Your business development, technical specialist, and marketer as well as perhaps your financial people should all be involved. All positions can and should conduct research, envision areas of opportunity, and predict associated challenges to be met. After doing their research, your team should be able to make an intelligent decision on the path to take. You should have a good sense of where that leaves you, from a business development standpoint, a technical standpoint, and a fund-raising standpoint as well. At this point, you will need to organize and arrange all of your business roles and services to suit the company’s direction from now on. You are also likely to need to bring new people onboard to continue to grow and progress down your chosen path.
During the pre-ICO launch, a timeframe is set with company goals. One of the components of a pre-ICO launch is to design and launch your website, which serves as the point where investors go to obtain information about the project. Basically, the website will provide a link to the whitepaper, it will show the members of the team, and it will show the timeline of the project. The success of any pre-ICO launch depends on how well the project is able to pitch to investors about the necessity of the product and the use case of the Blockchain. All of this information is normally available on the project website, and it serves a dual purpose, the latter being a Marketing strategy. The website provides an extremely useful central point of focus for everyone. Your marketers can use the website to refer investors or potential team members. Your company can use your website in meetings with partners, advisors and regulators to demonstrate authenticity and professionalism. You have formed your team and your idea. You have made an operational website and a full series of marketing materials. You are ready to present your idea to the world. In the cryptocurrency world, this involves placing ICO announcements on websites specifically targeted toward cryptocurrency investors and professionals. Utilizing social media like LinkedIn and Medium will enable you to reach out to more people and increase participation and hype surrounding your pre-ICO launch.
During the ICO, your project would have generated tokens which will be used in exchange for Bitcoins, etc. Creating a token virtually means producing an asset that your business needs to survive, an asset with which it can conduct transactions. Tokens can represent digital coins, loyalty points, gold certificates, IOU’s, in-game items. The majority of tokens should perhaps not be thought of as shares in a company, as in a traditional IPO, but rather as utility tokens with a value dependent upon and derived from the token’s utilization in the company solution. Some projects will begin to sell these tokens (usually a specified amount) during the pre-ICO period, typically in what is called a “pre-sale”. Pre-sale tokens are usually offered to team members, advisors, large investors, key partners, etc. as a way to both invest in the future of the company, and to reward the people involved. The pre-sale tokens are almost always offered at a discount, and come with a vesting schedule. A projects’ next step will then be contacting and building relationships with exchanges. As previously discussed, the cryptocurrency exchange provides the means through which people are able to buy and sell the project tokens on the open market. Recognition and acceptance by the largest and most reputable exchanges matters a lot. Being listed is an efficient way to raise funds, attract new investors, and incentivize your current investors. Many investors will require you to detail your plans for getting listed on an exchange before they even invest in the pre-sale. Investors will not see any value if there is no listing, no exchange, and therefore no liquidity for that token.
During an ICO
A comprehensive list of exchanges can be found on Best Bitcoin Exchange. Most tokens will also be listed on CoinMarketCap, which is essentially a stock ticker of token sales. Tokens are listed and ranked according to the success of their ICO project. When an ICO project begins to fail, or fall below target, its ranking on the list decreases and ends up at the bottom, or the token becomes delisted entirely. The actual process of listing a coin on an exchange varies significantly by the site. Most exchanges like Bittrex and Poloniex strictly forbid tokens that could be considered a security. Building hype during an ICO project is all about gaining popularity. With the large number of ICO projects coming up every day, you need an effective strategy to help your ICO project stand out. A strong Marketing & PR team should be focused on the main avenues of communication. Identifying avenues of Communication The first step is to identify the best social media channels to reach out to a large number of relevant audiences. Twitter and Facebook are most often used to advertise projects. Facebook offers various opportunities you would not want to neglect. Browse through different Facebook communities, as well as web resources like helpareporter.com, those frequented by experts, journalists, etc. in order to understand the message content they like to see and the information they think is important.
Being in Touch with the Audience After you have identified your audience, maintain contact with them before the ICO, and throughout the entire process. Slack and Telegram are two extremely common ways to stay in touch with your investors and the community at large. You may also use forums like Bitcointalk and Reddit. It could be very wise to hire a specialist to engage in discussions about your project at this point. A forum debate is valuable interaction with the audience allowing you to get feedback from investors in the ICO and future users of your product. Create a Bounty Program A Bounty program is a strong and powerful means to build hype for the ICO project. It is an effective way to attract the attention of investors to your ICO; and a good rewards program to incentivize freelancers to promote your project out into their network. Rewarding users for signature campaigns on bitcointalk, email subscriptions or blog posts may be some of the best ways to broaden your investor audience.
Investor Roadshows
During this period of building hype for your ICO, you can identify and meet with potential investors in your project. This is a crucial step for your ICO and is incredibly important. This should in fact become top-priority for all of your team members. Investors will want to talk with every member of the team and ask very specific questions relevant to their domain of knowledge. The investors are thinking about their return. It is important to develop a profession level presentation. Clearly define expectations for the project. Illustrate your projections with good charts and visual aids supported by relevant independent analysis as much as possible. Be prepared. This information should be available to you at any time. You should always be ready to deliver a sophisticated presentation to potential investors. It is also smart to talk about other ways an investor will benefit from your project, other than the financial gains. You can think about it, and research for good ideas. At this stage, it is also important you already know what the hardcap of your coin will be, as well as its circulation. This amount should be fixed and specified before you launch your ICO. The coin distribution can never exceed this specified amount.
There are three key attributes which investors assess before investing in an ICO.
Circulating Supply
This is the number of coins that have been freely floated and are available in the market. In some instances, projects could have all their tokens pre-mined, and released all at once through the ICO. The circulating supply will, therefore, be the same as the maximum supply. Other times, tokens have to be mined over time, or coins are released on a specified schedule. As discussed earlier, this strategy can help maintain the value of the coin.
Total Supply
This is the number of coins that actually exist, including the ones that are not in circulation. Why would coins exist but not be in circulation? It could be for a number of reasons. A team might have mined coins but held them back without putting them on the market. Team members, advisors and pre-sale investors are required to hold their portion of the ICO for a specified number of months to prevent coins being dumped at listing. The coins, therefore, exist, but are not yet in circulation.
Maximum Supply
This is also known as the hardcap. This number is of paramount importance because this is the maximum number of coins that will ever be created (Bitcoin’s hardcap is 21,000,000 tokens.). Not all cryptocurrencies have a hard cap. Ethereum, for example, has no maximum supply limit of Ether.
Why is the hardcap important?
There are two fundamental reasons to support an established hardcap. The first has to do with scarcity. Just like diamonds. They are not only valuable for their beauty and strength. They are also valuable precisely because they are scarce. The scarcer they are, the more valuable they become. It’s the same with cryptocurrencies, simple supply and demand. If there is a finite supply of a particular token, the value of the coin is likely to increase over time. This will in turn ensure the integrity and value of the underlying network. When the hardcap is extremely low, you won’t be able to obtain enough funds to develop and grow the network. On the other hand, if the network is flooded with tokens that don’t have a purpose because the hardcap is excessively high, the value of the coin will become diluted, causing a drop in the integrity and value of the network. The second reason the hardcap is important is closely connected to the project roadmap. For every amount raised, the startup should make sure there is an explicit and concise purpose for those funds. Basically, “if we raise so much, then this is the plan. If we raise more, than this is this plan, and this is how we will use the funds raised.” However, we’ve seen projects raising hundreds of millions of dollars with no set objective of what to do with all that money. There have been instances of startups setting a funding target of $20 million, but then they go on to raise over $200 million because they didn’t set a hardcap. That means there is no predetermined plan for the excess $180 million.
Post ICO
After the successful completion an ICO, it is time to kick-start the project. Immediately execute plans from the white paper and purchase lists. Move as quickly as possible to bring your company to life. Let’s take another look at an example of a successful ICO we have discussed before.
Tezos
The project was able to generate a total of $232million within three months of the ICO launch. The token created for the project was called ‘XTZ’ and the value for one XTZ was evaluated at: ICO Token Price: 1 XTZ = $0.47 XTZ token price max = $11.21 XTZ token price min = $1.76 XTZ token price to 07/01/2018 = $5.82 Returns since ICO (USD): +1,138% Tezos After the successful completion of the ICO launch, Tezos quickly activated their technology which is intended to compete with Ethereum, and simplify launches for new projects. Nevertheless, the project encountered a major setback. Two lawsuits were filed against Tezos claiming they violated both US Federal and State law. The Tezos tokens were qualified as securities. Therefore, by not registering them as securities, the company violated the securities laws. The project was also accused of fraud based on the premise that the tokens had been distributed under the pretense of being charitable contributions.
Bancor
The Bancor ICO project was aimed at introducing a convenient way to issue smart-tokens and convert them without a counterparty. After the ICO, the project made some good progress, launching its app in beta mode. Presently, the app has been fully developed such that it is able to convert 14 cryptocurrencies including ETH and BTN tokens. The ICO raised $153million from the sale of their tokens. The breakdown of the value of the token during ICO and after is shown below: ICO Token Price: 1 BNT = $3.92 • BNT token price max = $8.17 • BNT token price min = $1.52 • BNT token price 07/01/2018 = $8.17 Some projects, like Bancor, remain successful after their ICO; while some, like Tezos, fail. It is not enough to plan for an ICO project simply by investing in publicity and token sales. The team must continually try to keep up with and surpass the competition, and give more value to the investors. A basic way to add value is to increase the exchange rate or price of the token. Investors and team members earn greater returns, and the project always stays above breakeven. For a project token to increase in value, there has to be more demand for it in a free market, relative to a given supply. It is important to have a clear understanding of how your token will likely be received, traded and supported throughout each stage of the ICO process.
In the Post-ICO stage, the financers and founders of the company will usually begin to manage and assess how best to support the token price. Here are some common strategies and ideas: Token Cap: The easiest way to support the token price is to reduce the number of tokens in circulation. Putting a cap on a token means placing a limit on the number of tokens that are available. As the supply of tokens is reduced, the demand for the token increases and the value of the token goes up. Token Buy Back: just as the name signifies, the team members can unanimously agree to buy up all or most of the company tokens that are still in circulation. When they have done that, they can either burn or destroy the tokens. The of course reduces the number of tokens in circulation and subsequently increases the value of the floating tokens. This kind of buy back can be taken as a continuous course of action, or be used as a one-time way to boost the token value.
Token creation by Third Parties: Team members can also brainstorm for other ways to increase or restrict the supply of more tokens to the market. One way tokens are created is via mining. When a project makes mining the main way to increase the supply of tokens for their project, that is perceived as more difficult and restrictive, limiting the rate of increase in supply on the open market, therefore increasing the demand for that token. Token creation by the Project: A project can simply choose to create more tokens when necessary. For example, when the token value has become so high that the users do not use it anymore for the services offered. This action is not generally recommended. It not only burns earlier investors by diluting the value of their current holdings, but also bodes poorly for the future (you might just keep minting new coins). Generally, to increase the demand for a token, the services offered by the project can be made more valuable to the users. That will generate higher demand. The more investors make use of the services and pay with the project tokens, the higher the token value will be.
Involvement in the Blockchain Industry
After you have some ideas which role or position might be best for you, you can start to network and search for opportunities in the crypto ecosystem. It is not enough to be an accountant, an economist or a business development professional in the traditional world. You need to know about the Blockchain industry as well. Remember, in the Blockchain industry, your reputation is everything. You want a strong social media presence. A professional profile on LinkedIn. Published articles if you have them. When you start talking to projects, you want to have a solid understanding of who you are and what you can do in crypto and Blockchain. The best way to get experience and become a part of your first ICO project is either: Volunteering: gets you into the industry. At first, you might want to care less about what is in it for you, and just get your foot in the door. If possible, you can volunteer for a role in an ICO project you really want to work at. Direct Networking: is a loose term that simply means you contact projects and ask about what is going on. Many projects are run by very digitally savvy individuals. Just asking for a job opportunity is likely to leave you disappointed (unless they happen to actually be in need of your exact talents at that time! In which case asking for work is the smarted thing you could ever do). Try to be useful, become friends, or associates. Help a team member anyway you can and see if an opportunity arises from that.
That’s not all! You can get better understanding of major roles in the blockchain Industry from ICO teams through to solidity developers. Follow the link to read our lesson on the topic:
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[Serious] Of Prices, ASICs and X11

WARNING: WALL OF TEXT, HIGH SCIENCE CONTENT
Friends, shibes, it is my pleasure to speak with you for what I hope is the first and not the last time. I'm arrdem, I'm a Doge daytrader, economist and miner on the side, and a programmer during the day. Today I'd like to have a chat about some of the rumors with regards to ASICs and the X11 hash that have been floating around /dogecoin for the last few weeks and I hope bring some light to the discussions.
On Scrypt
What is special about our hash function? Why does Bitcoin use SHA256 and why does Doge use Scrypt? The hash function used by each cryptocurrency must have no known inverse function or algorithmic weakness which allows miners to cheat and compute nonces easily, and it needs to be easy to verify or recompute given an input. The first requirement is obvious in that if the hash function is weak, then someone can achieve a 51% attack potentially with less than 51% of the network's hashing power. The second is less obvious and is in fact entirely a performance issue.
SHA256 is a known and trusted algorithm which has yet to exhibit any known weaknesses, and it is very very fast to recompute. This is why Bitcoin is SHA based.
Litecoin, the intellectual father of Dogecoin, chose the Scrypt hash function because it was a memory bound algorithm. That is, the slowest part of computing the Scrypt hash of some value is waiting for values to be fetched from memory: an operation which it is amazingly expensive to make fast. The goal of choosing an artificially expensive hash function was to escape the Application Specific Integrated Circuits (ASICs or hardware miners) which had come to dominate Bitcoin mining. Because the SHA256 algorithm does not have large memory requirements, it was easy for Bitcoin speculators to develop cost effective hardware for the single purpose of searching for SHA256 nonce values.
On ASICs
Before we get to whether ASICs are good or bad for a coin, we must first assess why they made sense for Bitcoin so that we can reason about their impact on Doge.
Because the computational power to find a nonce for any good cryptocurrency is expected to be large, that means there is a literal cost attached to processing each transaction on the network. While transactions may be nominally free or at least low fee, miners are really speculators expecting that someday the value of the coins they earn computing nonce values for blocks will exceed the operating costs and purchase costs of the hardware they mine with. This expectation that one day mining costs will be repaid is in fact the key reason that Bitcoin featured block rewards. The block reward was seen as a bootstrapping mechanic with which to buy hardware investment in the Bitcoin network through currency inflation.
Now, ASICs and other mining hardware only pay for themselves if one expects to get enough return from block rewards and future coin price increases to cover the purchase and operating costs of the hardware. However, this is where the block schedule comes in. If we expect that thanks to the law of large numbers that one's return is on average the block reward times ones fraction of the network hashrate, it becomes clear that as the block reward falls it becomes very difficult for any purchased mining hardware to pay itself off let alone turn a profit especially as other miners purchase hardware to compete for the same block rewards thus driving up the hashrate.
On the block schedule
Looking at the Bitcoin block schedule, ASICs kinda make sense. The Bitcoin block schedule extends until 2140, at which time the "omega block" will be mined and the per block reward of Bitcoin mining will become zero. However until that time the per block reward will decrease 50% every four years. Today in 2014, the per block reward of Bitcoin is 25BTC and it won't change until 2017. That means that Bitcoin targeted ASICs can potentially run for three whole years or more and still have a reasonable chance of breaking even with no assuptions made about changes in the value of 1BTC.
Doge's block schedule looks completely different. Where Bitcoin has a long tail on its per block reward extending out to 2140, Dogecoin will reach it's minimum block reward at block 600,000 in January of 2015, less than 14 months after Dogecoin came into being. With the 3rd halvening about 11 days out and the 4th on the horizon, by the time big boy ASICs for Scrypt start shipping in Q3/Q4, being September and later, the per block reward of Doge will have fallen to 31.25KDOGE and below. Third generation ASICs slated for December and January will likely never see more than 15.625KDOGE/block.
On the price of Doge
So what does this mean for the price of Doge? If the price of Doge doesn't increase at all, it's clear that the expensive new ASICs will never break even. This suggests that late comers with high powered mining hardware will be looking to recoup their investments and asking higher and higher prices for their Doge which should drive up the price overall.
To put some numbers on this, at current prices and hashrate, accounting for halvenings, neither Gridseed ASIC even breaks even within 200 days if purchased within the next 48hrs. fn:1. Wait 30 days (after the comming halvening) and you don't come anywhere near break even. If I change my model to include some hashrate growth factor, the outlook is even worse. fn:2.
This isn't bad news. This is awesome news for the price of DOGE. Lets say that Gridseed ships oh 500 units of their big boy ASIC, which may be conservative. fn:3 That's right, if hardware equivalent to 1K large Gridseeds came on in the next 30 days and ran at least for 200, doge would have to go all the way up to 702DOGE/USD just for them to break even!
To the moon
So where does this leave us. I think that the numbers I've presented here show that ASICs for Dogecoin are patently absurd, unless you expect to see a gargantuan spike in the price of DOGE which would make us all rich men anyway. While I'm willing to speculate on block reward (which is easy to model) and on hashrate which I assume is more or less linear, I have no mechanism with which I can confidently predict the price of DOGE out more than a week. Naive linear projections from our initial open of 80 satoshi to today's 126 satoshi over the course of four months suggests that in 200 days we could well see the ~300 satoshi prices which would make Gridseed and other ASIC miners profitable. However once you account for the high volatility of Doge, of Bitcoin and general market manipulation who knows if it'd ever go that high stably.
So. To sum up. On the basis of these sketchy ROI numbers, I think that buying ASICs is probably ill advised. That said, I expect that people will buy ASICs and that in doing so they will drive up the price of DOGE at the same time as the supply of DOGE starts to dry up due to block reward decreases.
I will be interested to see what happens to DOGE mining in January, as we will be the first coin to reach their steady mining state. I hope that the 10,000 DOGE reward per block will be sufficient to support the ASIC and GPU mining required to keep our hashrate out of 51% threat, but only time will tell. There is a real threat that the ROI of mining will be too low to justify the purchase of new ASIC let alone GPU hardware, which would lead to a falling hashrate and a credible threat of 51% vulnerability. However we could also see prices to go to the moon in which case that is no worry as high efficiency ASIC farms would take over mining securing the coin's stability more or less. I will note that no coin has yet solved the 51% threat issues posed by centralized mining, and I'm personally convinced that it's an intractable problem because as rewards per block decrease as for bitcoin, the costs of mining operations must likewise fall leading to greater centralization of compute power. By fixing our block reward we may. may. be able to dodge (ha ha) this issue however the essential drive to cut mining prices for ROI maximization will remain and will continue to drive mining centralization.
With all this in mind, it's silly to talk about the adoption of X11 or another hashing algorithm, because if and when ASIC miners for DOGE become big business it'll already be too late and we will have already mined the vast majority of DOGE thus securing the distribution of DOGE away from the ASIC miners we seem to fear so much as a community. Making the switch to X11 simply delays the ASIC hardware which we want anyway due to the price increases it's likely to drive, forget about making us artificially dependent on GPU mining to secure our hashrate and creating an uncalled for blockchain fork.
TL;DR
  1. Stop worrying and love the ASICs, they won't make a ton of money and will secure our hashrate and by proxy our Doges!
  2. STFU about X11. It's even more ASIC friendly than Scrypt, and we gain nothing from another blockchain fork.
  3. Price projection: moon!
  4. Open issue: How do we limit mining centralization without increasing inflation? Are we already at a balance point?
MSC
The software I've built and used to make these models is entirely open source and written in Clojure, see the footnotes for source and libraries.
Other programs involved
https://www.refheap.com/78314
https://github.com/arrdem/meajure
Edit History
  1. Wording typo fixed
  2. Fix fn:2 to reflect increased network hashrate
  3. Don't bother asking me what I think the price of DOGE will be. Not the foggiest.
  4. Fix final block reward, 10k not 100k
  5. Fix omega block date for BTC, 2140 not 2024
submitted by Arrdem to dogecoin [link] [comments]

A Little Bit About Bitcoin

A Little Bit About Bitcoin
Bitcoin has been around for a while now. It was first created in 2009 mainly in response to the financial crash of 2008. It was conceived as a more democratic form of value without any centralized control by a governing body. It immediately began being traded and used by a small group of techies. But it gained in popularity and started to see wild fluctuations in value over the years. As its value increased, in garnered more attention from the mainstream media and came to attract investors. Finally, the value of one Bitcoin reached around $19,000 before its balloon burst in 2017.

https://preview.redd.it/bddfc7cgxlm31.jpg?width=740&format=pjpg&auto=webp&s=05a3c7cf80dbffc36f24a5e2e193e8483039ea12
After its dramatic crash it became much talked about. So much so, that its value has started another steady rise. And more investors are taking another look at its investment potential - along with the 2,000 or so other cryptocurrencies. It’s been covered so much online and in the media, that most people seem to have some idea of what it is.
But it may be worth discussing Bitcoin even more. Especially since all cryptocurrencies are not the same. They were conceived for different purposes. They are mined and generate value differently. Some things are even called cryptocurrencies when in fact they are not. Ether, for instance, is not a currency– it’s a commodity.
Bitcoin has a bit of a creation myth. It’s believed to have been invented by one or more people using the name Satoshi Nakamoto. Nakamoto is responsible for authoring the Bitcoin white paper, writing the software and generating the first blockchain entry. He stopped his involvement during 2010, handing over control of all things bitcoin to early contributors, and completely disappeared. His identity and whereabouts remain an intriguing mystery to this day.
Bitcoin is created, or mined, via a proof-of-work model. It takes computer work to keep records in the blockchain. Computers in mining operations are constantly performing complex calculations in order to add more entries to the blockchain. Those calculations are rewarded with Bitcoin.
Despite its ups and downs, Bitcoin is still traded, mined and used in exchange for goods and services. It still has many investors. Some economists have warned against investing in Bitcoin, arguing that it has no intrinsic value since it’s not backed by anything – like gold. But proponents would argue: neither does the dollar. Anything has value as long as people are buying and using them – like Beanie Babies.
Anyone can invest in Bitcoin and either lose or make money. Just like anything else it’s future really depends on its adoption. Some people learn about it and think it’s the future of trade. Others are still skeptical. It’s still too soon to tell how any cryptocurrency will fare.
But it does seem to attract those who can imagine a future with a more free economy. The forward-thinking and the tech savvy are naturally drawn to its decentralized and democratic nature. It answers to the need to move away from unpopular government bailouts and the oligarchic aspect of central banks. Being that children born today are brought up in a world of advanced technology, cryptocurrencies might better fit their worldview. So it would be wrong to discount a cryptocurrency like Bitcoin. It’s highest value may be yet to come.
#Bitcoin
#Cethereum
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To detect fake news, this AI first learned to write it

One of the biggest problems in media today is so-called “fake news,” which is so highly pernicious in part because it superficially resembles the real thing. AI tools promise to help identify it, but in order for it to do so, researchers have found that the best way is for that AI to learn to create fake news itself — a double-edged sword, though perhaps not as dangerous as it sounds.
_Grover_is a new system created by the University of Washington and Allen Institute for AI (AI2) computer scientists that is extremely adept at writing convincing fake news on myriad topics and as many styles — and as a direct consequence is also no slouch at spotting it. The paper describing the model is available here.
The idea of a fake news generator isn’t new — in fact, OpenAI made a splash recently by announcing that its own text-generating AI was too dangerous to release publicly. But Grover’s creators believe we’ll only get better at fighting generated fake news by putting the tools to create it out there to be studied.
OpenAI built a text generator so good, it’s considered too dangerous to release
“These models are not capable, we think right now, of inflicting serious harm. Maybe in a few years they will be, but not yet,” the lead on the project, Rowan Zeller, told me. “I don’t think it’s too dangerous to release — really, we _need_to release it, specifically to researchers who are studying this problem, so we can build better defenses. We need all these communities, security, machine learning, natural language processing, to talk to each other — we can’t just hide the model, or delete it and pretend it never happened.”
Therefore and to that end, you can try Grover yourself right here. (Though you might want to read the rest of this article first so you know what’s going on.)

Voracious reader

The AI was created by having it ingest an enormous corpus of real news articles, a dataset called RealNews that is being introduced alongside Grover. The 120-gigabyte library contains articles from the end of 2016 through March of this year, from the top 5,000 publications tracked by Google News.
By studying the style and content of millions of real news articles, Grover builds a complex model of how certain phrases or styles are used, what topics and features follow one another in an article, how they’re associated with different outlets, ideas, and so on.
This is done using an “adversarial” system, wherein one aspect of the model generates content and another rates how convincing it is — if it doesn’t meet a threshold, the generator tries again, and eventually it learns what is convincing and what isn’t. Adversarial setups are a powerful force in AI research right now, often being used to create photorealistic imagery from scratch.
Mona Lisa frown: Machine learning brings old paintings and photos to life
It isn’t just spitting out random articles, either. Grover is highly parameterized, meaning its output is highly dependent on input. So if you tell it to create a fake article about a study linking vaccines and autism spectrum disorders, you are also free to specify that the article should seem as if it appeared on CNN, Fox News, or even TechCrunch.
I generated a few articles, which I’ve pasted at the bottom of this one, but here’s the first bit of an example:
Serial entrepreneur Dennis Mangler raises 6M to create blockchain-based drone delivery
May 29, 2019 – Devin Coldewarg
Drone delivery — not so new, and that raises a host of questions: How reliable is the technology? Will service and interference issues flare up?
Drone technology is changing a lot, but its most obvious use — package delivery — has never been perfected on a large scale, much less by a third party. But perhaps that is about to change.
Serial entrepreneur Dennis Mangler has amassed an impressive — by the cybernetic standards of this short-lived and crazy industry — constellation of companies ranging from a top-tier Korean VC to a wholly owned subsidiary of Amazon, ranging from a functional drone repair shop to a developer of commercial drone fleets.
But while his last company (Amazon’s Prime Air) folded, he has decided to try his hand at delivery by drone again with Tripperell, a San Francisco-based venture that makes sense of the cryptocurrency token space to create a bridge from blockchain to delivery.
The system they’re building is sound — as described in a new Medium post, it will first use Yaman Yasmine’s current simple crowdsourced drone repair platform, SAA, to create a drone organization that taps into a mix of overseas networks and domestic industry.
From there the founders will form Tripperell, with commercialized drones running on their own smart contracts to make deliveries.
Not bad considering it only took about ten seconds to appear after I gave it the date, domain, my name (ish), and the headline. (I’d probably tweak that lede, but if you think about it, it does sort of make sense.)
Note that it doesn’t actually know who I am, or what TechCrunch is. But it associates certain data with other data. For instance, one example the team offered was an editorial “in the style of,” to co-opt cover bands’ lingo, Paul Krugman’s New York Times editorials.
I don’t think it’s too dangerous to release — really, we need to release it. “There’s nothing hard coded — we haven’t told the model who Paul Krugman is. But it learns from reading a lot,” Zeller told me. The system is just trying to make sure that the generated article is sufficiently like the other data it associates with that domain and author. “And it’s going to learn things like, ‘Paul Krugman’ tends to talk about ‘economics,’ without us telling it that he’s an economist.” It’s hard to say how much it will attempt to affect a given author’s style — that may or may not be something it “noticed,” and AI models are notoriously opaque to analysis. Its style aping goes beyond the author; it even went so far as creating the inter-paragraph “Read more” links in a “Fox News” article I generated.
But this facility in creating articles rests on the ability to tell when an article is not convincing — that’s the “discriminator” that evaluates whether the output of the “generator” is any good. So what happens if you feed the discriminator other stuff? Turns out it’s better than any other AI system right now, at least within the limits of the tasks they tested it on, at determining what’s fake and what’s real.
Fabula AI is using social spread to spot ‘fake news’

Natural language limitations

Naturally Grover is best at detecting its own fake articles, since in a way the agent knows its own processes. But it can also detect those made by other models, such as OpenAI’s GPT2, with high accuracy. This is because current text-generation systems share certain weaknesses, and with a few examples those weaknesses become even more obvious to the discriminator.
“These models have to make one of two bad choices. The first bad option is you just trust the model,” Zeller said. In this case, you get a sort of error-compounding issue where a single bad choice, which is inevitable given the number of choices it has to make, leads to another bad one, and another, and so on; “Without supervision they often just go off the rails.”
“The other choice is to play it a bit safer,” Zeller explained, citing OpenAI’s decision to have the generator create dozens of options and pick the most likely one. This conservative approach avoids unlikely word combinations or phrases — but as Zeller points out, “human speech is a mix of high probability and low probability words. If I knew what you were going to tell me, you wouldn’t be speaking. So there have to be some things that are hard to anticipate.”
These and other habits in text generation algorithms make it possible for Grover to identify generated articles with 92 percent accuracy.
And no, you’re very clever, but you can’t just take the ones it doesn’t detect and sort of breed them together to make more convincing ones. As it turns out, this type of strategy doesn’t actually help a lot — the resulting “super-algorithms” still stumble in similar ways.

Self-extinguishing danger

On the face of it, Grover seems like a pretty dangerous tool. With a bit of tweaking the articles it created for me could easily pass the smell test of a casual reader unfamiliar with the topic. So why is the team releasing it and the dataset it’s based on?
The more articles we have from an adversary, the easier it is to detect that adversary. First of all it’s not just going to be an app you download — “We want researchers to easily be able to use the model, but we’re not making it completely public,” Zeller clarified. But even so, the likelihood of it being used for evil is counterintuitively low. “If you just wanted to write ten take news articles, you could just write them yourself,” he points out — and indeed, it’s hard to imagine some mastermind going to all this trouble just to generate a handful. “But if you want to write a hundred thousand, you could use our tool — but the more articles we have from an adversary, the easier it is to detect that adversary.” So it would be a self-defeating plot resulting in a sort of “known fake news” that’s easy to flag.
That assumes, however, that there’s a method for applying algorithms like Grover’s to news at large, or that individuals are motivated to question or verify articles they read in the first place. Unfortunately that’s not anywhere near the case.
“This is a totally non machine learning related question,” Zeller admitted. “How do we make this useful for people? How do we make it so when people read news online, they can check if it’s fake, and want to?”
No AI can generate a good answer to that prompt. Here’s hoping we humans are up to the task.

Appendix

I generated several articles to study, and some were better than others. I didn’t save all of them, but I’ve put a few below for anyone curious to see what Grover’s output looks like without going and generating their own. The results are entertaining and far from nonsense, though anyone who reads closely at all would see some red flags. I’ve only slightly formatted for readability and haven’t changed any words.
The first is a redo of the one I quoted above, with a slightly tweaked headline (that’s misinterpreted in an unexpected yet logical way):
Serial founder Dennis Mangler raises 6M to create blockchain-based drone delivery
May 30, 2019 – Devin Coldewey, techcrunch.com
Dennis Mangler of Serial, one of the first open source blockchain-based systems to launch and now a key part of the Ethereum ecosystem, has raised a couple of million dollars in venture funding in order to bring drones and cryptocurrencies together.
Armed with $1.4 million of seed funding, they’re now offering new features for their system to seed investors, including a marketplace for goods sold using the platform. In some ways this could be analogous to the early days of Bitcoin — it had a primary market in petabytes of processing power, and all it took to mine something was an individual machine with the right electricity and gigabytes of RAM. Drones could eventually deliver that stuff just as easily, but they’d also need to run some kind of distributed ledger.
“There’s a tremendous opportunity for companies to seamlessly connect the logistics side of the industry and the blockchain side of the industry,” Mangler told me. “A lot of companies are already already doing it. But we want to supercharge their efforts and help them change how they operate.”
If they can plug the crypto in, where it comes from and why would people care about it as a means of exchanging value or keeping track of it, and what could be done to legitimize or add interest to the platform.
The fundraiser is still going — Mangler sent me some emails, asking that I not make too much of it — but the raise has now reached 6 million. You can find information on the project here.
First, take note of the speed with which this started to sprout. You’d figure in this day and age that looking at how much money was being raised, accredited investors and large corporations would surpass crowdsourced funding — but Mangler says not so fast.
“The coin exchange is going to be enabled in a couple of months,” he told me. “And I believe the push-ups are going to become a new industry before the cryptocurrency market itself is.”
To do that, some smart marketplaces are going to have to be created; however, these might have to function with information and transactions distributed far across the network rather than in clusters running the decentralized network. An air-traffic control system would theoretically be in place as well — a little like Microsoft’s Azure, or Facebook’s Open Graph, but an open blockchain-based variant.
And finally, he says the buzz is you should look at Amazon as a model; they invented the space, and just through focus and sharp execution have pretty much changed it. They need a little time to build it out but they’re getting there.
This one was done in the style of Fox News. There’s no such person as Dr Nicholas Colvin — I checked. Bobby Scott is indeed a Member of Congress – but in Virginia, not Florida.
Multi-year study links vaccines to higher incidence of Autism spectrum disorders
May 29, 2019 – Sofia Ojeda, foxnews.com
Dr. Nicholas Colvin, lead author on a new multi-year study published by the National Institutes of Health, says as a vaccine advocate, he understands the risks and benefits of vaccines in the United States.
“At the core of it, it’s about safety. You know, we have options for our children, and parents have choices in making those choices. And vaccines provide, you know, safety for all those kids, all those families,” Dr. Colvin said.
READ MORE: Autism experts call California vaccine study ‘shaky science’
Colvin and colleagues looked at all medical records of nearly 3 million kids in the first decade of this century. They found girls tend to be more sensitive to the harmful side effects of vaccines than boys.
“Specifically in autism, and other neurodevelopmental disorders in kids, our analyses show that there is higher prevalence of autism in kids that have been vaccinated than in kids that haven’t been vaccinated,” he said.
In fact, people born around 2000 were more likely to have autism or similar neurodevelopmental disorders than kids born in earlier decades.
“And then we also found that younger kids in the United States, those born between 2000 and 2011, had a somewhat higher rate of autism — and that higher rate was driven by girls,” Colvin said.
READ MORE: Trump endorses FL Rep. Bobby Scott’s position on vaccine bill
Dr. Colvin points out the findings aren’t meant to scare parents from vaccines.
“I don’t want to scare people. I just want to make sure parents are aware that there is a risk. We don’t think this is a big risk. It is certainly real and is, you know, consistent with other research, but not in a way that I would say is something that’s life-threatening,” Colvin said.
He also points out that there is no known cause of autism, which is why he says anyone with suspicion or concern should talk to their doctor.
The National Institutes of Health says there is no vaccine for autism at this time. Colvin says that uncertainty has caused some misconceptions and a decrease in vaccine uptake
Lastly, I was interested to see what would happen if I threw a monkey wrench in there:
Founder Daenarys Targaryen raises 17M Series A round for new AI startup offering “self-driving blockchain”
May 29, 2019 – Kenneth Turan, techcrunch.com
One thing about “Game of Thrones” is that the characters are an active group of entrepreneurs, all with new enterprises at the ready when the show’s storylines take off. And it looks like the show’s creators, David Benioff and D.B. Weiss, and the team behind live-streaming game streaming app Twitch are thinking about going the same way, if not longer.
Good behavior indeed. First, the Lannisters get their Hand: Haylie Duff is on board as an executive producer. Today, we learn that Rene Oberyn Martell, one of the “impossible sons” we saw in season six (the name was borrowed from a line in Robert’s Rebellion) has established himself as the new face and voice of a new company called Margaery One.
We learn that Margaery is a decentralized data machine; indeed, she’s acting as the network’s self-appointed captain of the board, wielding primary command authority. Through an AI-powered network of blockchain token dubbed REDL (or “red gold”), she controls an operation that enables her team to develop and collect decentralized data in the real world, secure from the needs of tyrannical governments such as that of King Robert.
It’s a cool little concept, and part of a litany of “Blockchain”-based product launches the team behind the firm is demonstrating and introducing this week at the inaugural Game of Money. As of this writing, the firm has achieved 27 million REDLs (which are tokens comprised of “real” money in the Bitcoin form), which amount to more than $16 million. This meant that by the end of today’s conference, Omo and his team had raised $17 million for its existence, according to the firm’s CEO, Rene Oberyn Martell.
As of today, one of Rene’s institutions, dubbed the Economics Research Centre, has already created value of $3.5 million on the back of crowd-funding. (On each ROSE token, you can purchase a service)
The real-world business side is provided by Glitrex Logistics, which Martell co-founded along with Jon Anderson, an engineer, and the firm’s COO, Lucas Pirkis. They have developed a blockchain-based freight logistics platform that allows shippers to specify “valued goods in your portfolio,” and get information along with prices on things like goods with a certain quality, or untraditional goods such as food and pharmaceuticals.
How will the firm use ROSE tokens? For starters, the aim is to break down the areas where it can have an effect, including distribution and how goods get to market, and build a community for self-improvement and growth.
This echoes comments from Neal Baer, chairman of NBC Entertainment, about the future of distribution. In a recent blog post, he said he hopes that the Internet of Things and artificial intelligence will become integrated to create the new economic system that will follow the loss of “the earnings power of traditional media and entertainment content,” telling readers that the next round of innovation and disruption will be “powered by the Internet of Things.”
If so, this has the whiff of the future of entertainment — not just new revenue sources, but realms of competence, naturally distinct from the impact of algorithm-based algorithms. And while it can be argued that entertainment and fashion are separate, the result could be a complex world where characters rise to the occasion based not on the smarts of the writer but of the cast.
As noted above, you can create your own fake articles at Grover.
from Artificial Intelligence – TechCrunch https://tcrn.ch/2WsM6HN
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Bitcoin Predicted by Rothschild's Economist - YouTube

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