Bitcoin Mining Calculator CoinWarz

Formula for calculating mining amount expected? /r/Bitcoin

Formula for calculating mining amount expected? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

How to get an expected profitability when mining ravencoins?

Input: a miner's hashrate.
Output: an expected profitability of mining RVN (like whattomine does).
Questions:
  1. Is there a formula that allows me to calculate an expected profit by a miner's hashrate?
  2. Is there a formula to get a network hashrate by a given network difficulty? Something similar to this answer, but for a Ravencoin.
submitted by andrebits to Ravencoin [link] [comments]

MCS | Ethereum Perpetual Contract Release

MCS | Ethereum Perpetual Contract Release

https://preview.redd.it/pq2ztf3bytr51.jpg?width=1024&format=pjpg&auto=webp&s=381f55d46e2ac4cc1a5504258d4e9798b063d817
#Be_a_Trader!
Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

Ethereum Perpetual Contract is NOW LIVE on MCS!🎉

💎 What is Ethereum?

Ethereum, with a market capitalization of $400 billion as of October 5, 2020, ranks second after Bitcoin. Ethereum was designed by a Russian Canadian developer Vitalik Buterin in 2013, and is a blockchain platform that has implemented smart contracts on blockchain. Currently, Ethereum is being mined using the Proof of Work (PoW) method, but it will be changed to Proof of Stake (PoS) through the Ethereum 2.0 update later this year.
🔸 Ethereum Website : https://ethereum.org/en/
🔸 Ethereum Twitter : https://twitter.com/ethereum
🔸 Ethereum Whitepaper : https://github.com/ethereum/wiki/wiki/White-Paper
🔸 MCS | Ethereum Report : https://drive.google.com/file/d/1ROOSuKKc_rywDBpY_qFfEXulawGQvyXp/view?usp=sharing

💎 Ethereum Perpetual Contract Details

🔸 Trade Open : 8th of October 2020 4AM (UTC)
🔸 Ethereum Contract Specifications : https://mycoinstory.com/contract/perpetual/ETHUSDT
🔸 Ethereum Contract Calculation Formula : https://help.mycoinstory.com/hc/en-us/articles/900002192163-Quanto-Futures-Contract-Formulas
For inquiries related to Ethereum Perpetual Contracts, please contact us through Live Chat or Telegram.

Traders ALWAYS come first on MCS.
Thank you.

MCS Website: https://mycoinstory.com/
MCS Official Twitter (EN): https://twitter.com/mycoinstory_mcs
MCS Official Facebook: https://www.facebook.com/MyCoinStory.official
MCS Telegram Chat (EN): https://t.me/mycoinstory_EN
submitted by MyCoinStory to MyCoinStory [link] [comments]

It's Good Friday, and a millionaire is about to rise from the ashes (figuratively)! Comment to enter! [Drawing Thread #41]

Praise thy!

TL;DR of the TL;DR:
In Case You Missed It:
  • So I'm going to be unavailable for the next few hours. Quick notes, this thread will close at 0:00 UTC (8 PM ET) due to me being late by thirteen minutes. As a side effect, comment retrieval will occur, centered at 3:00 UTC (11 PM ET). Not good enough, I was not able to get online before that. 4:00 UTC (12 AM ET) it is! 5:00 UTC (1 AM). Apparently, Pydroid need a repository plug-in, whatever that means. Hope I stay up for that long.
  • The /millionairemakersmeta discussion thread is up, and be welcome to donate to the past winner.
  • UNDER CONSTRUCTION, though can't guarantee it'll get repaired.
TL;DR:
Leave a comment on this thread, replies won't count. A random user will be chosen, and everyone donates a dollar to make a millionaire. You are welcome to spread this thread via upvoting, telling friends and family, and sharing on social media!
  • [If you'd like to be reminded to donate to the winner through PM via the RemindMeBot, click here!](UNAVAILABLE)
What is this, anyway?
Three years ago, a Redditor posted an idea in /Showerthoughts that speculated the fact, if a million people picked a certain Redditor and all donated just $1, they would have the power to make someone a millionaire.
This subreddit is an embodiment of that showerthought, and the monthly drawings are the attempts to make it happen.
We need your help to keep this running, which amounts to only $1 a month to make someone's day. In the long term, that’s $120 every decade, which is much more affordable than other expenses. How does it work? Below, you will find an explanation on entering, rules to keep in mind, the selection, and other important things to note.
How to enter:
  • REQUIRED: Leave only one (1) top level comment in reply to this thread! Replying to other comments will not count. It is highly recommended to comment "RemindMe! 3 days Donation for /millionairemakers", which will remind you via PM to donate. That's it!
Important Rules:
  • Only ONE top level comment per person (replies and subsequent-level comments aren't included), but feel free to reply to other comments. Making duplicate top level comments may result in exclusion from entering. Go to me to ensure you don't accidentally double comment.
  • If, by any chance, you do double comment, delete any extra duplicates ASAP, ideally before the thread is locked, as any chosen draws found to violate this will not be eligible to win, and will be banned from the subreddit.
  • Your account must be older than 30 days with some amount of activity. Throwaway accounts with very minimal activity will also not be eligible. This is to prevent multiple entries from the same person.
How will the winner be picked and how can you donate?
  • After 24 hours, this thread will close, and the method of selection will begin.
  • While attempts to make the selection method similar to 2017’s have been performed, it still varies from the original. For an example from a prior drawing, see [Draw #36]. For archival purposes, please click here for the original selection method.
  • Method's TL;DR: Your number is assigned by sorting the comments by old, resulting in the first commenter being 1. The list of comments will be publicly released for the community to verify per their own accord. The subreddit then waits for a randomly generated block (a string of numbers) from Bitcoin's blockchain, after a preselected date and time, and calculates the winner using a formula described in the posts mentioned above.
  • Comment IDs are downloaded at 2:00 UTC, three hours following the thread being locked. There will be an official run at the time listed. If it is shown that there are any technical difficulties, the retrieval of the comments will be delayed by an hour, following the same procedures.
  • While not necessary, to determine if you are on the list, please go to your comment and save it. The comment ID is what gets recorded and selected, which looks like this: e3yxpj4.
  • The Draw is held at 16:00 UTC the Sunday after comments have been downloaded, unless stated otherwise. Using the Bitcoin blockchain, the third block yet to be mined will be used to select a winner.
  • The user who created the winning comment will be informed of their luck and will provide any information necessary for their chosen payment methods (mods will help set this up if needed).
  • The generous Reddit community donates to this lucky person, hopefully making some worthy soul a millionaire! A donation table will be stickied to the winner’s post, giving users the freedom in how they donate.
  • The lucky Redditor follows up with a thank you within the next days, revealing to the community exactly how much was raised and thanking their generosity.
Reminders
  • Take the time you have available now to setup your PayPal, Square Cash, and Google Wallet account, and/or cryptocurrency wallets. (Note: Some services may not be available depending on where you reside.)
  • To buy any cryptocurrencies, you may use Coinbase for purchases using your bank account.
  • To store cryptocurrencies, there are many accessible wallets, and if you win, you will be guided on which ones to download. For Bitcoin and Bitcoin Cash, it’s recommended to use the Electrum and Electron Cash wallet for Mac, Linux, and PC.
  • Please try your best to donate a $1, no matter who wins. Every single dollar, cent, anything really counts, so please take the effort to remember and go through with it.
  • If you want to be reminded to donate, please comment "RemindMe! 3 days Donation for /millionairemakers".
  • Spread the word! The more people who participate, the better this gets for everyone! There has been a correlation between this subreddit making it in /all and an increase in donations.
  • Try to cross-post to relevant subs, and upvote. There is a correlation between reaching /all and the amount of donations for the winner. (Please don't spam other subs though. We're not trying to make any enemies here.)
  • If you are under 18, please talk to your parents to get their consent to participate and use their help to setup a PayPal account.
MOST IMPORTANTLY
Remember, this is about generosity, making history, and coming together to make someone's life better. It takes three minutes to donate a bit to the winner, whether you're well off and want to donate a couple bucks, or going through tough times and can only donate a few pennies. Every cent counts.
Note about legality: This is NOT a lottery. You don't have to pay to enter. No prizes are given away directly by the moderators of this subreddit (the moderators will never even touch your donations; this is done voluntarily). As for gift taxes, according to the IRS, they're paid by the donor, and any donations under $15,000 is not taxable.
If a lone $1 can get you stuff, imagine the possibilities with $1,000,000. You can get stuff, stuff, and stuff!
One million dollars can help do things. Spread the word: have your friends and family comment, post the link to your friendly-neighborhood social media network, and share it to anyone interested.
Let's make an egg-cellent millionaire!
haiku
(This is an altered generic template thread.)
submitted by lilfruini to millionairemakers [link] [comments]

Exam week is almost over, and with it comes making a millionaire! Comment to enter! [Drawing Thread #42]

I forgot to change the leading title.

Overslept. Comment collection will be performed on 10 AM ET (14:00 UTC), following standard procedure. Someone deleted their comment, there will be a second attempt at 11 AM ET (15:00 UTC), again via standard procedures. A trial will be performed a few minutes before the set time, right at the set time, and thirty minutes after. Drawing the winner will begin at 16:00 UTC.
TL;DR of the TL;DR:
  • To enter, comment only once to this post. Replies to other comments will not count. Good luck!
In Case You Missed It:
  • The /millionairemakersmeta discussion thread is up, and be welcome to donate to the past winner.
  • UNDER CONSTRUCTION, please wait!
TL;DR:
Leave a comment on this thread, replies won't count. A random user will be chosen, and everyone donates a dollar to make a millionaire. You are welcome to spread this thread via upvoting, telling friends and family, and sharing on social media!
What is this, anyway?
Three years ago, a Redditor posted an idea in /Showerthoughts that speculated the fact, if a million people picked a certain Redditor and all donated just $1, they would have the power to make someone a millionaire.
This subreddit is an embodiment of that showerthought, and the monthly drawings are the attempts to make it happen.
We need your help to keep this running, which amounts to only $1 a month to make someone's day. In the long term, that’s $120 every decade, which is much more affordable than other expenses. How does it work? Below, you will find an explanation on entering, rules to keep in mind, the selection, and other important things to note.
How to enter:
  • REQUIRED: Leave only one (1) top level comment in reply to this thread! Replying to other comments will not count. It is highly recommended to comment "RemindMe! 3 days Donation for /millionairemakers", which will remind you via PM to donate. That's it!
Important Rules:
  • Only ONE top level comment per person (replies and subsequent-level comments aren't included), but feel free to reply to other comments. Making duplicate top level comments may result in exclusion from entering. Go to me to ensure you don't accidentally double comment.
  • If, by any chance, you do double comment, delete any extra duplicates ASAP, ideally before the thread is locked, as any chosen draws found to violate this will not be eligible to win, and will be banned from the subreddit.
  • Your account must be older than 30 days with some amount of activity. Throwaway accounts with very minimal activity will also not be eligible. This is to prevent multiple entries from the same person.
How will the winner be picked and how can you donate?
  • After 24 hours, this thread will close, and the method of selection will begin.
  • While attempts to make the selection method similar to 2017’s have been performed, it still varies from the original. For an example from a prior drawing, see [Draw #36]. For archival purposes, please click here for the original selection method.
  • Method's TL;DR: Your number is assigned by sorting the comments by old, resulting in the first commenter being 1. The list of comments will be publicly released for the community to verify per their own accord. The subreddit then waits for a randomly generated block (a string of numbers) from Bitcoin's blockchain, after a preselected date and time, and calculates the winner using a formula described in the posts mentioned above.
  • Comment IDs are downloaded at 2:00 UTC, three hours following the thread being locked. (See addendum above.) There will be an official run at the time listed. If it is shown that there are any technical difficulties, the retrieval of the comments will be delayed by an hour, following the same procedures.
  • While not necessary, to determine if you are on the list, please go to your comment and save it. The comment ID is what gets recorded and selected, which looks like this: e3yxpj4.
  • The Draw is held at 16:00 UTC the Sunday after comments have been downloaded, unless stated otherwise. Using the Bitcoin blockchain, the third block yet to be mined will be used to select a winner.
  • The user who created the winning comment will be informed of their luck and will provide any information necessary for their chosen payment methods (mods will help set this up if needed).
  • The generous Reddit community donates to this lucky person, hopefully making some worthy soul a millionaire! A donation table will be stickied to the winner’s post, giving users the freedom in how they donate.
  • The lucky Redditor follows up with a thank you within the next days, revealing to the community exactly how much was raised and thanking their generosity.
Reminders
  • Take the time you have available now to setup your PayPal, Square Cash, and Google Wallet account, and/or cryptocurrency wallets. (Note: Some services may not be available depending on where you reside.)
  • To buy any cryptocurrencies, you may use Coinbase for purchases using your bank account.
  • To store cryptocurrencies, there are many accessible wallets, and if you win, you will be guided on which ones to download. For Bitcoin and Bitcoin Cash, it’s recommended to use the Electrum and Electron Cash wallet for Mac, Linux, and PC.
  • Please try your best to donate a $1, no matter who wins. Every single dollar, cent, anything really counts, so please take the effort to remember and go through with it.
  • If you want to be reminded to donate, please comment "RemindMe! 3 days Donation for /millionairemakers".
  • Spread the word! The more people who participate, the better this gets for everyone! There has been a correlation between this subreddit making it in /all and an increase in donations.
  • Try to cross-post to relevant subs, and upvote. There is a correlation between reaching /all and the amount of donations for the winner. (Please don't spam other subs though. We're not trying to make any enemies here.)
  • If you are under 18, please talk to your parents to get their consent to participate and use their help to setup a PayPal account.
MOST IMPORTANTLY
Remember, this is about generosity, making history, and coming together to make someone's life better. It takes three minutes to donate a bit to the winner, whether you're well off and want to donate a couple bucks, or going through tough times and can only donate a few pennies. Every cent counts.
Note about legality: This is NOT a lottery. You don't have to pay to enter. No prizes are given away directly by the moderators of this subreddit (the moderators will never even touch your donations; this is done voluntarily). As for gift taxes, according to the IRS, they're paid by the donor, and any donations under $15,000 is not taxable.
If a lone $1 can get you a pencil, imagine the possibilities with $1,000,000. You can get preparation books, prepare for college, or even raise money for a graduation party!
One million dollars can help do things. Spread the word: have your friends and family comment, post the link to your friendly-neighborhood social media network, and share it to anyone interested.
Let's make a millionaire!
submitted by lilfruini to millionairemakers [link] [comments]

The Retrospect and Prospect of the Crypto Economy——The Development and Evolution of the Consensus Mechanism (Three)

The Retrospect and Prospect of the Crypto Economy——The Development and Evolution of the Consensus Mechanism (Three)

https://preview.redd.it/45wwtygv2rc51.png?width=567&format=png&auto=webp&s=a5f51ea3c620d478231c39e32f198eb64d801897
Foreword
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
Contents
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Last lecture review: Chapter 3 Common Consensus Mechanisms

Chapter 3 Common Consensus Mechanisms (Part 2)
Figure 6 Summary of relatively mainstream consensus mechanisms

https://preview.redd.it/2yepvjjy2rc51.png?width=567&format=png&auto=webp&s=acaed31fa6106ac2f501fe2cb284f66bb2258a0e
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
》DBFT
-Concept:
Delegated Byzantine fault tolerance. The improved Byzantine fault-tolerant algorithm makes it suitable for blockchain systems. The system consists of nodes, delegators (who can approve blocks), and speakers (who proposes the next block). It is a consensus algorithm that guarantees fault tolerance implemented inside the NEO blockchain.
-Principle:
In this mechanism, there are two participants: the professional bookkeeper "bookkeeping node" and the ordinary users in the system.
Ordinary users vote based on the proportion of holding stake to determine the bookkeeping node. When a consensus is required, a spokesperson is randomly selected from these bookkeeping nodes to draw up a plan, and then other bookkeeping nodes will vote basing on the Byzantine fault tolerance algorithm.That is, majority principle. If more than 66% of the nodes agree to the spokesperson’ plan, a consensus is reached; otherwise, the spokesperson is re-elected and the voting process is repeated.
-Representative application: Neo, etc.
》PoA
-Concept:
Proof of authority. That is, certified by some accredited accounts, these accredited accounts are called "validators". The software that the verifier runs that supports the verifier to place transactions in blocks.
-Principle:
Three conditions:
  1. The identity must be formally verified on the chain, and the information can be cross-verified in a publicly available domain;
  2. The qualifications must be difficult to obtain, so that the rights of the verification block obtained are precious enough;
  3. The authoritative inspection and procedures must be completely unified.
With PoA, every individual has the right to become a verifier, so there is an incentive to maintain the position of the verifier once acquired. By attaching a reputation to the identity, the verifier can be encouraged to maintain the transaction process. Because the verifier does not want to gain a negative reputation, it will lose its hard-won verifier status.
-Representative applications: VeChain, etc.
》DAG
-Concept:
Directed acyclic graph. Each newly added unit in the DAG is not only added to the long chain block, but added to all the previous blocks, verifying each new unit and confirming its parent unit and the parent unit of the parent unit, and gradually confirming until the genesis unit. As the hash of its parent unit is included in its own unit, the blockchains of all transactions are connected to each other to form a graph-like structure with time.
-Principle:
In the DAG network, each node can be a trader and a validator, because the transaction processing in DAG is done by the transaction node itself. Taking IOTA as an example, IOTA’s Tangle led
ger does not need to pay transaction fees while ensuring high-speed transaction processing. However, it does not mean that the transaction is free, because in this ledger, the initiation of each transaction needs to verify the other two random transactions first, and connect the transaction initiated by itself to these two transactions, so the responsibility that miners on the blockchain bear is distributed to all traders. The DAG method of processing transactions can be called asynchronous processing mode.
Figure 10 The difference between the traditional blockchain structure and the DAG structure

https://preview.redd.it/1xfssxj03rc51.png?width=553&format=png&auto=webp&s=95c382f81943c9a188a89ac6b2dadf64446589e6
-Representative applications: IOTA, etc.
》PoET
-Concept:
Proof of elapsed time. That is, it is usually used in a permissioned blockchain network. It can determine the mining rights of the block holders in the network. The permissioned blockchain network requires any prospective participants to verify their identity before joining. According to the principles of the fair lottery system, each node is equally likely to become the winner.
-Principle:
Each participating node in the network must wait for a randomly selected period, and the first node to complete the set waiting time will get a new block. Each node in the blockchain network will generate a random waiting time and sleep for a set time. The node that wakes up first, that is, the node with the shortest waiting time, wakes up and submits a new block to the blockchain, and then broadcasts the necessary information to the entire peer-to-peer network. The same process will be repeated to find the next block.
Two factors:
  1. Participating nodes will naturally select a random time in nature, rather than deliberately;
  2. The winner did complete the waiting time.
-Representative application: HyperLedger Sawtooth, etc.
》PoSV
-Concept:
Proof of stake velocity. Proposed by Reddcoin, drawing on the concept of "money circulation speed" in economics, it mainly allocates bookkeeping rights based on the coin age of nodes participating in the competition.
-Principle:
PoSV also allocates accounting rights according to the coin age of the nodes participating in the competition, but modifies the coin age calculation formula to a function of exponential decay of growth rate. Taking Reddcoin as an example, Reddcoin sets the half-life of the coin age growth rate to 1 month. Assuming that the unit token can accumulate 1CoinDay coin age on the first day, only 0.5CoinDay coin age can be accumulated on the 31st day, and only 0.25CoinDay coin age can be accumulated on the 61st day, and so on. In this way, the nodes are encouraged to use the token to conduct a transaction after holding the token for a period of time, thereby restarting the calculation of the coin age and increasing the circulation speed of the token in the network.
-Representative applications: Reddcoin, etc.
Table 2 Comparison of the advantages and disadvantages of current mainstream consensus mechanisms

https://preview.redd.it/kb04i7eh3rc51.png?width=1236&format=png&auto=webp&s=42de13bc99afaf258c0a740a6618e2d579b59100
Source: network resources
Chapter 4 Summary of the Selection and Status Quo of Consensus Mechanism
4.1 How to choose a consensus mechanism that suits you
Step 1: Determine whether the final result is important
For some applications, the end result is very important. If you are building a new payment system that can support very small amounts, it is acceptable for the transaction result to change. Similarly, if you are creating a new distributed social network, 100% guarantee that the status is updated immediately is not particularly necessary. On the contrary, if you are creating a new distributed protocol, the final result is critical to the user experience. For example, Bitcoin has a final confirmation time of about 1 hour, Ethereum has a final confirmation time of about 6 minutes, and Tendermint Core only has a final confirmation time of 1 second.
Step 2: Determine how fast the application process needs to be
If you are building a game, is it reasonable to wait 15 seconds before each action? Due to the low block processing time of Ethereum, games built on it will cause poor user experience due to Ethereum's throughput. However, the application for the transfer of housing property rights can be run on Ethereum. Use the Cosmos SDK to build an application that allows developers to freely use Tendermint Core. It has a short block processing time and high throughput, and is capable of processing 10,000 transactions per second. You can reduce the required communication overhead and speed up the application by setting the maximum number of validators for the application.
Step 3: Determine the application's demand for decentralization
Some applications such as games may not require very high censorship resistance as a by-product of decentralization. In theory, does it really matter that the validator can create a cartel in the game and reverse the transaction result for profit? If it is not important, a blockchain such as EOS may be more suitable for your needs because of the fast transaction speed and free fees. However, some applications such as autonomous banks are more powerful and decentralized. Although Ethereum is considered to be decentralized, some supporters claim that Ethereum's mining pool is an important part of centralized platform, although there are actually only 11 validators (mining pools). One of the major benefits of building your own blockchain instead of building on a smart contract platform is that you can customize the way the application completes verification. However, it is difficult to build your own blockchain, so the Cosmos SDK is very useful, you can easily build your own blockchain and customize the degree of decentralization you need.
Step 4: Determine whether the system can be terminated
If you are building a new application similar to a distributed ride-sharing service, then ensuring 24/7 service must be the first priority, even if there are occasional errors in accounting similar to transactions. One of the properties of Tendermint Core is that if there is a disagreement between network validators, the network will suspend operations instead of proceeding erroneous transactions. Applications such as decentralized exchanges require correctness at all costs-if there is a problem, it is far better to suspend trading on the decentralized exchange than there may be trading problems.
Summary: Choose a suitable consensus algorithm after weighing the advantages and disadvantages
All in all, there is no single best consensus algorithm. Each consensus algorithm has its own value and advantages. You need to have your own judgments and choices. However, by understanding the relevant processes of the consensus mechanism, including proposals and agreements, and establishing a framework to consider the types of consensus algorithms that your application may require, you should be able to make wiser decisions.
4.2 Future development of consensus mechanism
The consensus algorithm is one of the core elements of the blockchain. Although there are more than 30 consensus mechanisms listed in the article, there are still many niche consensus mechanisms that may not be discussed. As the blockchain technology is gradually known and accepted by the public, more and more newer and better consensus algorithms may appear in the future, which may be brand-new consensus algorithms, and more should be improvement and optimization version based on the current consensus algorithm.
After 2016 and 2017 years’ fast development, the current consensus algorithm does not have a recognized evaluation standard, but is generally more biased towards fairness and decentralization, as well as some technical related issues, such as energy consumption and scalability , Fault tolerance and security, etc. However, blockchain technology must be combined with requirements and application scenarios, and the consensus mechanism algorithm and incentive mechanism are inseparable. How to customize a suitable consensus mechanism according to the characteristics of your own project and optimize the current consensus mechanism will become the future direction of consensus mechanism development
CelesOS
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.
📷Website
https://www.celesos.com/
📷 Telegram
https://t.me/celeschain
📷 Twitter
https://twitter.com/CelesChain
📷 Reddit
https://www.reddit.com/useCelesOS
📷 Medium
https://medium.com/@celesos
📷 Facebook
https://www.facebook.com/CelesOS1
📷 Youtube
https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
submitted by CelesOS to u/CelesOS [link] [comments]

We're springing into a new season, and with it, a chance to be made a millionaire! Comment to enter! [Drawing Thread #40]

March onwards!

Updates (all of which are edited in):
These retrievals will start at 3:45 UTC, 4:00 UTC, and 4:30 UTC respectively.
TL;DR of the TL;DR:
  • To enter, comment only once to this post. Replies to other comments can be posted, but will not count as an entry. Good luck!
In Case You Missed It:
TL;DR:
What is this, anyway?
Three years ago, a Redditor posted an idea in /Showerthoughts that speculated the fact, if a million people picked a certain Redditor and all donated just $1, they would have the power to make someone a millionaire.
This subreddit is an embodiment of that showerthought, and the monthly drawings are the attempts to make it happen.
We need your help to keep this running, which amounts to only $1 a month to make someone's day. In the long term, that’s $120 every decade, which is much more affordable than other expenses. How does it work? Below, you will find an explanation on entering, rules to keep in mind, the selection, and other important things to note.
How to enter:
  • REQUIRED: Leave only one (1) top level comment in reply to this thread! Replying to other comments will not count. It is highly recommended to comment "RemindMe! 3 days Donation for /millionairemakers", which will remind you via PM to donate. That's it!
Important Rules:
  • Only ONE top level comment per person (replies and subsequent-level comments aren't included), but feel free to reply to other comments. Making duplicate top level comments may result in exclusion from entering. Go to me to ensure you don't accidentally double comment.
  • If, by any chance, you do double comment, delete any extra duplicates ASAP, ideally before the thread is locked, as any chosen draws found to violate this will not be eligible to win, and will be banned from the subreddit.
  • Your account must be older than 30 days with some amount of activity. Throwaway accounts with very minimal activity will also not be eligible. This is to prevent multiple entries from the same person.
How will the winner be picked and how can you donate?
  • After 24 hours, this thread will close, and the method of selection will begin.
  • While attempts to make the selection method similar to 2017’s have been performed, it still varies from the original. For an example from a prior drawing, see [Draw #36]. For archival purposes, please click here for the original selection method.
  • Method's TL;DR: Your number is assigned by sorting the comments by old, resulting in the first commenter being 1. The list of comments will be publicly released for the community to verify per their own accord. The subreddit then waits for a randomly generated block (a string of numbers) from Bitcoin's blockchain, after a preselected date and time, and calculates the winner using a formula described in the posts mentioned above.
  • Comment IDs are downloaded at 2:00 UTC, three hours following the thread being locked. There will be an official run at the time listed. If it is shown that there are any technical difficulties, the retrieval of the comments will be delayed by an hour, following the same procedures.
  • While not necessary, to determine if you are on the list, please go to your comment and save it. The comment ID is what gets recorded and selected, which looks like this: e3yxpj4.
  • The Draw is held at 16:00 UTC the Sunday after comments have been downloaded, unless stated otherwise. Using the Bitcoin blockchain, the third block yet to be mined will be used to select a winner.
  • The user who created the winning comment will be informed of their luck and will provide any information necessary for their chosen payment methods (mods will help set this up if needed).
  • The generous Reddit community donates to this lucky person, hopefully making some worthy soul a millionaire! A donation table will be stickied to the winner’s post, giving users the freedom in how they donate.
  • The lucky Redditor follows up with a thank you within the next days, revealing to the community exactly how much was raised and thanking their generosity.
Reminders
  • Take the time you have available now to setup your PayPal, Square Cash, and Google Wallet account, and/or cryptocurrency wallets. (Note: Some services may not be available depending on where you reside.)
  • To buy any cryptocurrencies, you may use Coinbase for purchases using your bank account.
  • To store cryptocurrencies, there are many accessible wallets, and if you win, you will be guided on which ones to download. For Bitcoin and Bitcoin Cash, it’s recommended to use the Electrum and Electron Cash wallet for Mac, Linux, and PC.
  • Please try your best to donate a $1, no matter who wins. Every single dollar, cent, anything really counts, so please take the effort to remember and go through with it.
  • If you want to be reminded to donate, please comment "RemindMe! 3 days Donation for /millionairemakers".
  • Spread the word! The more people who participate, the better this gets for everyone! There has been a correlation between this subreddit making it in /all and an increase in donations.
  • Try to cross-post to relevant subs, and upvote. There is a correlation between reaching /all and the amount of donations for the winner. (Please don't spam other subs though. We're not trying to make any enemies here.)
  • If you are under 18, please talk to your parents to get their consent to participate and use their help to setup a PayPal account.
MOST IMPORTANTLY
Remember, this is about generosity, making history, and coming together to make someone's life better. It takes three minutes to donate a bit to the winner, whether you're well off and want to donate a couple bucks, or going through tough times and can only donate a few pennies. Every cent counts.
Note about legality: This is NOT a lottery. You don't have to pay to enter. No prizes are given away directly by the moderators of this subreddit (the moderators will never even touch your donations; this is done voluntarily). As for gift taxes, according to the IRS, they're paid by the donor, and any donations under $15,000 is not taxable.
If a lone $1 can get you seeds (I'm running out of ideas), imagine the possibilities with $1,000,000. You can rake, bake, or skate freely (there aren't many stand-out features in March)!
One million dollars can help give relief to some debts. Spread the word: have your friends and family comment, post the link to your friendly-neighborhood social media network, and share it to anyone interested.
Let's spring up/grow a millionaire!
Pollen has fallen.
Here comes a sneeze and a wheeze.
The winner's calling.
Edits are for reclarification and updates.
submitted by lilfruini to millionairemakers [link] [comments]

Review and Prospect of Crypto Economy-Development and Evolution of Consensus Mechanism (2)

Review and Prospect of Crypto Economy-Development and Evolution of Consensus Mechanism (2)

https://preview.redd.it/a51zsja94db51.png?width=567&format=png&auto=webp&s=99e8080c9e9b1fb5e11cbd70f915f9cb37188f81
Foreword
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
Contents
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Chapter 3 Common Consensus Mechanisms (Part 1)
Figure 6 Summary of relatively mainstream consensus mechanisms
📷
https://preview.redd.it/9r7q3xra4db51.png?width=567&format=png&auto=webp&s=bae5554a596feaac948fae22dffafee98c4318a7
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
》POW
-Concept:
Work proof mechanism. That is, the proof of work means that it takes a certain amount of computer time to confirm the work.
-Principle:
Figure 7 PoW work proof principle
📷
https://preview.redd.it/xupacdfc4db51.png?width=554&format=png&auto=webp&s=3b6994641f5890804d93dfed9ecfd29308c8e0cc
The PoW represented by Bitcoin uses the SHA-256 algorithm function, which is a 256-bit hash algorithm in the password hash function family:
Proof of work output = SHA256 (SHA256 (block header));
if (output of proof of work if (output of proof of work >= target value), change the random number, recursive i logic, continue to compare with the target value.
New difficulty value = old difficulty value* (time spent by last 2016 blocks /20160 minutes)
Target value = maximum target value / difficulty value
The maximum target value is a fixed number. If the last 2016 blocks took less than 20160 minutes, then this coefficient will be small, and the target value will be adjusted bigger, if not, the target value will be adjusted smaller. Bitcoin mining difficulty and block generation speed will be inversely proportional to the appropriate adjustment of block generation speed.
-Representative applications: BTC, etc.
》POS
-Concept:
Proof of stake. That is, a mechanism for reaching consensus based on the holding currency. The longer the currency is held, the greater the probability of getting a reward.
-Principle:
PoS implementation algorithm formula: hash(block_header) = Coin age calculation formula: coinage = number of coins * remaining usage time of coins
Among them, coinage means coin age, which means that the older the coin age, the easier it is to get answers. The calculation of the coin age is obtained by multiplying the coins owned by the miner by the remaining usage time of each coin, which also means that the more coins you have, the easier it is to get answers. In this way, pos solves the problem of wasting resources in pow, and miners cannot own 51% coins from the entire network, so it also solves the problem of 51% attacks.
-Representative applications: ETH, etc.
》DPoS
-Concept:
Delegated proof of stake. That is, currency holding investors select super nodes by voting to operate the entire network , similar to the people's congress system.
-Principle:
The DPOS algorithm is divided into two parts. Elect a group of block producers and schedule production.
Election: Only permanent nodes with the right to be elected can be elected, and ultimately only the top N witnesses can be elected. These N individuals must obtain more than 50% of the votes to be successfully elected. In addition, this list will be re-elected at regular intervals.
Scheduled production: Under normal circumstances, block producers take turns to generate a block every 3 seconds. Assuming that no producer misses his order, then the chain they produce is bound to be the longest chain. When a witness produces a block, a block needs to be generated every 2s. If the specified time is exceeded, the current witness will lose the right to produce and the right will be transferred to the next witness. Then the witness is not only unpaid, but also may lose his identity.
-Representative applications: EOS, etc.
》DPoW
-Concept:
Delayed proof of work. A new-generation consensus mechanism based on PoB and DPoS. Miners use their own computing power, through the hash algorithm, and finally prove their work, get the corresponding wood, wood is not tradable. After the wood has accumulated to a certain amount, you can go to the burning site to burn the wood. This can achieve a balance between computing power and mining rights.
-Principle:
In the DPoW-based blockchain, miners are no longer rewarded tokens, but "wood" that can be burned, burning wood. Miners use their own computing power, through the hash algorithm, and finally prove their work, get the corresponding wood, wood is not tradable. After the wood has accumulated to a certain amount, you can go to the burning site to burn the wood. Through a set of algorithms, people who burn more wood or BP or a group of BP can obtain the right to generate blocks in the next event segment, and get rewards (tokens) after successful block generation. Since more than one person may burn wood in a time period, the probability of producing blocks in the next time period is determined by the amount of wood burned by oneself. The more it is burned, the higher the probability of obtaining block rights in the next period.
Two node types: notary node and normal node.
The 64 notary nodes are elected by the stakeholders of the dPoW blockchain, and the notarized confirmed blocks can be added from the dPoW blockchain to the attached PoW blockchain. Once a block is added, the hash value of the block will be added to the Bitcoin transaction signed by 33 notary nodes, and a hash will be created to the dPow block record of the Bitcoin blockchain. This record has been notarized by most notary nodes in the network. In order to avoid wars on mining between notary nodes, and thereby reduce the efficiency of the network, Komodo designed a mining method that uses a polling mechanism. This method has two operating modes. In the "No Notary" (No Notary) mode, all network nodes can participate in mining, which is similar to the traditional PoW consensus mechanism. In the "Notaries Active" mode, network notaries use a significantly reduced network difficulty rate to mine. In the "Notary Public Activation" mode, each notary public is allowed to mine a block with its current difficulty, while other notary public nodes must use 10 times the difficulty of mining, and all normal nodes use 100 times the difficulty of the notary public node.
Figure 8 DPoW operation process without a notary node
📷
https://preview.redd.it/3yuzpemd4db51.png?width=500&format=png&auto=webp&s=f3bc2a1c97b13cb861414d3eb23a312b42ea6547
-Representative applications: CelesOS, Komodo, etc.
CelesOS Research Institute丨DPoW consensus mechanism-combustible mining and voting
》PBFT
-Concept:
Practical Byzantine fault tolerance algorithm. That is, the complexity of the algorithm is reduced from exponential to polynomial level, making the Byzantine fault-tolerant algorithm feasible in practical system applications.
-Principle:
Figure 9 PBFT algorithm principle
📷
https://preview.redd.it/8as7rgre4db51.png?width=567&format=png&auto=webp&s=372be730af428f991375146efedd5315926af1ca
First, the client sends a request to the master node to call the service operation, and then the master node broadcasts other copies of the request. All copies execute the request and send the result back to the client. The client needs to wait for f+1 different replica nodes to return the same result as the final result of the entire operation.
Two qualifications: 1. All nodes must be deterministic. That is to say, the results of the operation must be the same under the same conditions and parameters. 2. All nodes must start from the same status. Under these two limited qualifications, even if there are failed replica nodes, the PBFT algorithm agrees on the total order of execution of all non-failed replica nodes, thereby ensuring security.
-Representative applications: Tendermint Consensus, etc.
Next Lecture: Chapter 3 Common Consensus Mechanisms (Part 2) + Chapter 4 Consensus Mechanism Selection and Status Summary
CelesOS
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.

📷Website
https://www.celesos.com/
📷 Telegram
https://t.me/celeschain
📷 Twitter
https://twitter.com/CelesChain
📷 Reddit
https://www.reddit.com/useCelesOS
📷 Medium
https://medium.com/@celesos
📷 Facebook
https://www.facebook.com/CelesOS1
📷 Youtube
https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
submitted by CelesOS to u/CelesOS [link] [comments]

Hoo Launches BCH & BSV Halving Campaign

Hoo Launches BCH & BSV Halving Campaign
Dear Hoo users,
For BCH and BSV are halving their block rewards this month. Hoo decided to launch campaigns related to the halving. Those who trade BCH and BSV on Hoo will have a chance to share the Halving Gift Packs.
Time: on Apr. 9, 2020- Apr. 13, 2020
Cryptocurrency: BTC, BCH, BSV
Campaign 1: Halving Mining Rewards, Double Trading Bonus
Users who make BTC, BCH and BSV daily transactions during the event are qualified to get the reward. Users whose net buy volume (in USDT) ranked top 3 will get a BCH / BSV Gift Pack!

https://preview.redd.it/uf5xlhq9frr41.png?width=674&format=png&auto=webp&s=a36dededf22872b75f56314fe5fb226f5997fd61
Campaign 2: Bitcoin Family Financing Session, Active Users Enjoy Interest+ Coupon
Hoo’s BVS/BCH/BTC halving earnings are higher than the other exchanges. In addition, Hoo will pick up 20 active trading users daily in Hoo community and send free Hoo coin + interest coupon. Come and enjoy higher profits!

https://preview.redd.it/kbl9r4bdfrr41.png?width=678&format=png&auto=webp&s=5311943f590ed80b073fbe6cf2c8943ae9dc2e0f
https://preview.redd.it/ws7xr4bdfrr41.png?width=667&format=png&auto=webp&s=fa9b2b37e550939ad2544203755889c8205a0d9a
Rules:
  1. Event interval: 00:00:00:00–24:00:00:00(UTC + 8). We will calculate the total net buy value of the three coins in USDT. Top 3 traders will get the Gift Pack;
  2. The second and third prizes of Net Purchase Trading Bonus campaign depend on the price of BCH / BSV on the same day. If the price of BCH is higher than BSV, BCH will be awarded to the second prize and BSV was awarded to the third prize. Vice versa;
  3. Net buying formula: Net Purchase = Buying Volume - Selling Volume ;
  4. Hoo will announce the winners of the daily net purchase ranking and the awards will be distributed within 3 working days;
  5. Hoo interest+ coupon will be disturbed via lucky draw, and launched by hoo community admin(telegram group). Winners will be announced at 13:00(UTC+8) everyday, and the coupon can be directly used to buy any of our financing product during the campaign;
  6. The activity of the final interpretation of the right to the Hoo platform all.

Hoo Team
April 8, 2020
submitted by Hooexchange to u/Hooexchange [link] [comments]

(Translated) Alternative Universe Korean Fan Fiction - The Journey to the North

What a bloody day.
The temperature drops below zero, The ship is rumbling around like it's gonna be flipped over soon enough, And the only thing I could barely see is the icebergs floating over the sea. Look at that, the frost is all over the Matt's head. He has been on the deck all day long. Now I wonder why that bastard is still on the deck....
"Can't you see the bloody waves are shaking our ship? Get over here NOW!"
"It's not usual to watch my beeeeautiful face combined with the frost! You should watch now or it will be washed out soon!"

...It's a really bloody day. For real.

*

Have you ever wanted to turn back the time?
I want to. I want to turn back the time now. I really fucking want to go back to the last January: Because I spent all my money buying the bitcoin back then. If I earned my profit, I would've bought an enormous T-34, then parked it in my backyard, and shoved that gun up that bloody Tord's ass.
"How about joining the revolution as you've been lost all your money?"
...Or for now, It will be enough to beat him in the face. But It's not the time to punch Tord right now.
"Everyone be quiet! The ad is on!"
I'd like to beat this idiot up first.
This idiot who wears broccoli-colored hoody all day long. Can't he really see the Foundation's name is bloody suspicious? What on Earth is that foundation doing? What now? "Find the Viking's treasure in the North Pole and get reward"? Why is there a viking tribe in the North Pole! But Edd, unlike me, sold his bitcoin on the peak, so he is rich now. And that means....
"Edd, Will there really be the treasure?"
"Hold on, Matt."
Here we go again - The bloody adventure time.
Edd starts spinning his lucky cola can as Matt nags at him. I don't have either money nor power, just hoping to the lucky cola can says 'No'. But... Yep. That will be the day when the water is dry.
"The lucky cola can had me the revelation! There must be a treasure! Let's go to the North Pole!"
And so it's done.

One goes for the legendary treasure.
The another one goes 'just for fun'.
And another one, who spent all his money with me.
And finally me, last one who have to do anything for my mortgaged tank.

As the result, The two riches and the two beggars have started their journey to find the treasure.
Well, I should buy another tank if we really find it....

*

So we got a cargo ship and currently are going to the North pole. Don't ask us how we got the ship: some things are better be unknown. A good harpoonist should be a good sailor, so I held the key. But the skipper isn't me. And that 'skipper' is reading the map we have stolen from the museum.
"Hmm..."
"Do you know how to read the atlas?"
And that bloody commie with a doujinshi in his hand.
"Nah, that's why I put you in the team."
"What you mean?"
"Doesn't every Norwegians like skiing on the fields of the North Pole?"
"Nope."
"Hmm..."
One is still reading the map, and another one is reading his doujin from the Comic con or somewhere.
Useless bishes.
"We should build a base camp after landing so do something!"
"But we don't know where to go after landing on the Northeast National Park."
"Where is that fucking treasure?"
"We're doing research about it but can't find."
"Stole the valuable national heritage and got nothing?"
"You should say nothing 'by far'. Also, It was YOU who harpooned that valuable national heritage."
Well, I can't say anything then.
"You.... Anyway do something until we land on. It's an hour left from landing."
And Matt on the sofa jaws about.
"Mirror mirror on my palm, where is the treasure we should get?"
"Do you really think that spell works in real life?"
"I'm talking to my face. Ah, my beautiful face..."
"Stop idling and help!"
Tord threw Matt's mirror away. Edd reached for another cola can while the other two fight over the mirror. I didn't even want to see what's happening anymore. Let's just think about the tank. Make it double. Those big and straight guns, those reliable caterpillars, overwhelming armors... I will NEVER be in those stupid adventure like this anymore, once I have these lovely tanks...
"Augh!"
"What are you doing! We have to put that back after this!"
"a-a-at least the map is tasty now! Calm down, guys!"
Don't you say that you spilled the cola over the map, Edd. Just don't... Just then, I saw the wave coming before the head, so I took the key to port side. Matt flew away and butted the wall, Then the cola flavoured old viking map gently sat down on my head.
Those bastards...

*

Eventually, Cola-spilling incident turned out to be a lucky event. As the map receiving the dim sunlight, The hidden location in the map was found. But that would be discovered when being soaked with just some water, to be honest. So we have destroyed the map during the event, We decided to bury the truth deep down the Arctic sea.
"Thank god we don't go to the 'real' North Pole!"
"I think the Greenland is just cold and harsh as the North Pole..."
Let's just say that we buried it in the Greenland. After landing on the small port, we bought a house in the town we call the base camp. Matt, who keeps nagging about that no one calls a tent the base camp, paid the rent. The preparing is done. Matt and I got on the snowmobile, And the others on the sled. Now all we need to do is riding through the snow field where the only thing we can see is few animal hordes.
And we have to move everyday, all day long.
"No spare days?"
"Yep."
"I'd like to see the Greenland's hentai... Will there be the comic con in Greenland?"
"Not in a million years!"
Dogs are panting and running, Boys are being carried by them, also panting. The journey was fine... for a day.
We met the Polar bear on the Second day.
"Tom! Harpoon! Shoot em!"
"Take that! Take this Capitalistic attack, You capitalist pig!"
"Stop! Maybe he could give us a cola if we be kind!"
And so we obtained the shot-n-burnt polar bear skin.
And then the whale of penguins being lured by the lucky can chased after us. Tord shot them all down with his MG42. We gathered five penguins with the longest crest and tied them upon the bear skin.
In the evening, The Kraken appeared from inside the iceberg, so we needed to use three rockets. My babies... And they barfed after eating my octopus stew. It must have gone bad in there already. They sure rot even in the cold place. Eventually Matt had to drag us to the sled. I and Tord fought over the spoils of war, and Edd cut the head in half and gave each side to both of us.
And the next day was also alike, except there was a flying creature instead... and that we knew there's a big flaw in our plan.

*

"Hey."
"What?"
Edd turns back and looks at me beyond the frozen goggle. I ask him the problem in doubt. O come on, At least he's the captain. He must have thought about this.
"About that treasure map: it've been made a thousand years ago."
"I think so. You mean that one we have stolen in Oslo, right?"
"Wouldn't be that secret location changed as the time passes?"
"I considered that when I was calculating aboard."
"Nah, I meant the Y axis."
"What do you mean?"
Edd's eye opens wide as I'm saying. It seems that he really didn't think about it. Sigh.
"Hey, commie."
"What's the matter?"
"Do you know where I got my tank?"
"On the backyard."
"How?"
"What do you mean, You dug the backyard for that."
As I shrugged as staring at tord without any other word, Tord and Edd looked at each other speechless... And then screamed until Matt fell out of the snowmobile and rolled away. Thankly he wasn't seriously injured.
"Thousand-year-old Treasure, you say? My tank was made 60 years ago and that was buried 30 metres underground. With some calculation, we can assume this fucking treasure, is buried in roughly 300 metres underground."
"We could go for 300 metres more..."
"No you idiot! 300 metres UNDERGROUND! UN-DER-GROUND!"
Of course, we're in Greenland.
Greenland is cold.
Water freezes in the cold places.
And Greenland is fucking cold.

So, there was a big fucking pile of iceberg under our foot, And we have to dig down 300 metres below that iceberg for the treasure or something.
It was impossible with our equipments.

*

"If we had a little more gunpowder..."
The commie made a good point for the first time, But it was impossible as we didn't have one with shaped charge. We discussed all day long but couldn't get any results. Finally, we decided to set a camp on the location as it was getting darker.
"Tell me that today's menu isn't that bloody octopus stew."
"Have no fear. It's bear meat with Pemmican."
I started to recall the memories aside the fire. When I spent all my money on bitcoin, The shock I had when Edd emerged with the ship, Stealing the heritage in Oslo, The fight against the Kraken... It's now all became useless.
There's nothing we can do except staggering back to home with our cold, empty hands.
"Can't we buy the mining tools in the shop nearby?"
"Do you really think there's a shop on this frozen land?"
"Maybe if we get down the hole where the Kraken came out..."
"Then how can we get out?"
Well, everybody is speechless now. We tried to sleep with our exhausted body but it didn't work. I saw the delusion of my tank. Suddenly, Matt hopefully started talking nonsense.
"This fire could unfreeze all the ice if we keep the fire among the sleep."
Why not, It will be melted out eventually if we can keep the fire for all eternity.
"Say that again."
"Huh?"
All of a sudden, Tord responded to the nonsense.
"What did you just say?"
"If we keep the fire on...?"
"After that!"
"It will unfreeze the iceberg."
"That's right...!"
"What now, you idiots?"
"That's right! The fire dissolves the ice! I found the way! Hahaha!"
Tord jumped out from his sleeping bag like he's going to start out soon enough, and then he fell asleep by the punch of the exhausted captain. I thought he was finally gone mad watching that sight.

*

Sadly, Tord haven't gone mad. Or is it a good thing? Let's just get over it just once. Next morning, Tord started to mumble something in Russian in his transponder. The respond was delivered immediately.
"Спасибо, comrade. I'd buy some vodka later."
"For the old comrade. It was doomed to be covered in the snow forever anyway, It will also be pleased."
Tord closed the call. Edd nagged to him.
"What did he say?"
"There is a key!"
"So what is the key anyway?"
"The Molotov's last heritage."
What?
"The flame of the revolution will help us to destroy the thick iceberg!"
Special Napalm ICBM, as known as 'Molotov's enormous cocktail'. During the cold war, The Soviet union had built three napalm ICBMs to burn down the Yellowstone National park for their supply line. They hid it to the wilderness, And one of the places was Greenland. After the union was collapsed, Tord's army had received the location of it, but they buried it in the snow since it was so powerful to use for the battle... Until now.
"Now putting a little repair and I can change this baby into the bunkerbuster!"
The iceberg will be no more. We actually needed to consider the safety of the treasure. But we were on the cliff, also I could do anything for my mortgaged tank.
We headed to the abandoned ICBM launching site of the Soviet Union.

"Did you pack all the luggage?"
We packed everything on the snowmobile and the dog sled, including the spoils.
"Aight, Lift-off now!"
"I didn't know I could press the button of this monster in my life..."
Tord's eyes staring at the button was filled with glee. To be honest, I felt jealous. Why the First world haven't built anything like this, dammit.
"Here we go!"
Tord jumped off the chair, flipped three times midair, and landed on the button with his arse. Then the engine howled loudly. The loud noise made the dust-covered silo vibrate, And the bunkerbuster, former ICBM, was launched to the sky on the degree of 90.
"It's coming, it's coming..."
The missile on its peak height started to dive into the frozen field. And then it hit the exact location of the treasure, with just a little error!
"IT'S COMING!"
"Wanna get censored?"
As I whack the Tord's head on the back, The great sphere of fire rose from far away. It was such a sight.

*

We could get to the place a day later. After several piles of burnt penguins and polar bears, we reached the center of the crater, crawled down the cliff made from the iceberg, and dug straight down. A while later, My shovel hit something.
"I found it!"
It was an expensive looking safe, decorated with the pure gold, jewelry and much more. It looked expensive even with a glance. So there was a treasure though. I quickly passed the safe to Edd. Edd opened the safe with all of his knowledge.
"Open it!"
"What could it be?"
The safe was slightly ajar. We could see the treasure glittering under the golden lid.
"Edd! What's inside the safe?"
Edd pulled out the golden grail from the Viking's secret safe. The sunshine was crushing itself toward the grail. The liquid... Liquid is hard to turn into the money, lame. At least we could sell anything expensive in the safe.
"So what is it?"
But my dream was destroyed by Edd's gibberish.
"It's the First cola!"
"What?"
"It's the First cola of the Viking! Here's a formula, too!"
I dropped myself onto the land.
After all these years and I've only got...
A bloody cup of cola?

(Fin)


----


Written by August P. White,
Translated by u/yokato723
submitted by Reccomendation21 to Eddsworld [link] [comments]

Fantom Improvement Proposal 1 : Proof of Stake

Fantom Improvement Proposal 1 : Proof of Stake
Medium Article: https://medium.com/fantomfoundation/fantom-improvement-proposal-1-proof-of-stake-fip-1-17bbbe225e70

EIP-1 Proof of Stake: https://github.com/Fantom-foundation/FIPs/blob/masteFIPS/fip-1.md
Introduction
Fantom is a new distributed ledger that is a secure, fast, decentralised, and permissionless network, allowing anyone to transact or build applications on top of it.
In order to secure the network, Fantom has chosen to employ a “Proof of Stake” token model, borrowing from some of the best ideas out there in the team’s opinion.
There will be two types of nodes on the network: validator and listening nodes.
Validator nodes actively participate in the consensus of the network to validate transactions. A supermajority (⅔) of the total validating power of the network is needed to confirm a transaction to finality. These nodes will require a minimum stake.
Listening nodes connect to other nodes in the network and synchronize the entire ledger. They can submit transactions to the network independent of other nodes. However, they do not participate in consensus, and no staking is required.
The total validating power of the network is the total number of votes an event block can receive in the network, of which a minimum ⅔ is required to achieve finality. Note that an event block that contains no transactions can still be validated by the network, and a block reward will be earned, but no transactions fees.

Deliverable

The deliverable of Fantom’s Proof of Stake model is to:
  • Encourage stakeholders to participate in network validation via attractive and sustainable rewards for staking
  • Achieve predictable transaction and storage costs
  • Create a positive feedback loop to encourage the growth in the network. As demand for the network grows, returns for validators should also grow, which in turn should increase the demand for FTM.

Key Features for Network Users

Users on the network will be able to use their tokens in two ways:
  1. Transaction-based staking: Any participant of the network, including a wallet user, can stake a percentage of tokens to gain a percentage of guaranteed transaction volume on the network
  2. Paying for transactions: Like Ethereum or Bitcoin, users will be able to pay per transaction to be confirmed by the network

Transaction-based Staking

Owning a percentage of staked FTM tokens will guarantee a percentage of nominal network processing capacity at all times. Given a user’s FTM holding, there will be a guaranteed amount of gas a user can spend per block. This is also known as “transaction-based staking”.
It is extremely unlikely that all FTM holders will constantly use all of their allotted capacity. In addition, actual network capacity is likely to exceed nominal capacity. It is therefore likely that significant free capacity will be available in most blocks. That free capacity will be available to users in proportion to their staked weight. This will allow users who do not own many tokens, but are active in the system, to have preferred access to processing capacity.
FTM has a maximum supply of 3.175 billion tokens, of which more than 30% are available for block rewards on mainnet launch. The foundation has been actively purchasing FTM on the market over time in order to increase our block rewards, essentially removing it from total circulating supply.

Predictable transaction and storage costs

Transaction costs will be expressed in terms of an internal accounting system called Fantom Gas (“FTG”).
FTG will operate in a similar manner to gas on the Ethereum network at a virtual machine level. There will be a cost associated with each op code executed by the register-based virtual machine (costs will be specified in future technical documents. For now Fantom will follow the Ethereum Virtual Machine (EVM) gas costs as specified in “Appendix G. Fee Schedule” of the Ethereum “Yellow Paper” as Fantom is currently using Golang and Rust Implementations of the EVM). The relationship between FTM and FTG is similar to the relationship between Wei and Gas in Ethereum:
FTM = FTG_price\FTG*

Where:
FTM: Fantom Token
FTG: Fantom Gas
FTG_price: The price of FTG in terms of FTM. This will be discussed below.

Fantom aims to achieve predictable transaction and storage costs to give users certainly over the cost of running services on the network. With networks such as Ethereum, the cost per transaction in terms of Wei can vary greatly according to the gas price.
As such, Fantom proposes the creation of a Special Purpose Vehicle (“SPV”) with a built-in exchange for FTG in the network. Users will be able to buy FTG to pay for computation in advance.
FTG represents a fixed amount of processing capacity.
FTG can be bought only with FTM, via an internal exchange.
There will be an internal price “oracle” for the FTG/FTM exchange rate. FTM holders will vote on the exchange rate.
A reserve pool (SPV) will be built (holding x amount of FTM) so that there will be liquidity for the exchange.
The reserve pool will also serve to guarantee a minimum block fee during periods when transactions do not cover validator costs (more details to be added).
Any user can buy FTG using FTM using the prevailing exchange rate. From the user’s perspective: FTM debit, FTG credit. The opposite will be true for the SPV.
Users can also convert FTG back to FTM via the exchange, subject to a 10% fee. From the user’s perspective: FTM credit, FTG debit. The opposite will be true for the SPV.
FTG hoarding will be discouraged in a natural way: as FTG roughly follows some cloud computing/storage index, its value will slowly decline versus fiat over time, given the historical decline in both computing and storage costs. This will be a natural disincentive to hoarding.

How are fees paid?

If a user holds FTG, this will be used for tx fees. User: FTG debit. SPV: FTG credit, FTM debit. Validators: FTM credit.
If a user does not have FTG, FTM will be used directly at prevailing rate. User: FTM debit. SPV: FTM credit. Validators: FTM credit.
However, there are several open issues to confirm. The fee split between the SPV and validators is crucial. Part of the SPV income will be a share of transaction fees, as well as on the spread of users selling back FTG to FTM. However, the SPV will need to guarantee minimum validator income. An additional risk is the price volatility in the FTM/FTG price. Consider the following scenario:
Assume 1 FTM = 3 FTG.
A user buys 30 FTG for 10 FTM.
FTM crashes in terms of FTG, and now 1 FTM = 1 FTG.
The user sells 30 FTG back to the exchange for 27 FTM (30 less 10%)
Result: a net gain of 17 FTM for the user, a net loss of 17 FTM for the SPV
To remove this risk, we set a rule that a user can never make a profit from converting back FTG to FTM. This will be discussed in further detail.
The SPV could accumulate FTM over time. Users of the network can participate in on-chain governance (We will discuss this in more detail in future posts), as to what the FTM will be used for. For example, users may vote to burn FTM, or choose to distribute it to validators as additional staking rewards. We believe that this should drive demand for FTM, as validating becomes more attractive.

Organic growth of network capacity according to demand

Fantom predicts that network capacity will grow in line with transaction volume. As a result, the same percentage of FTM tokens held should, over time, give access to a larger processing capacity.

Incentives for active users

The weight given to users in the system will depend on two factors:
  1. Their staked FTM holdings, and
  2. The measure of activity over the past 6 months, with more recent activity weighted more heavily.
Activity is defined based on the amount of gas spent over time in the transactions submitted by the node to the network. There will be a minimum amount gas required to be spent per node in order to receive rewards. This should incentivise nodes to use the network. This is known as Proof of Importance, an idea that has been expressed in other platforms such as NEO.
We will develop a suitable formula which will combine these two factors.

Key Features for Developers

Dapp-based staking

One of the issues with the current Ethereum Proof of Work model is that developers are not incentivised to create and run Dapps on the network. Instead, Ethereum has been used to largely to conduct Initial Coin Offerings to fund projects in competition to the network.
In order to incentivise the growth and development of Dapps on Fantom. We propose a concept called Dapp-based staking. A developer who deploys a Dapp can stake a certain number of FTM to the network, and users will be able to use the application for free according to the rules set by the developer.
This will be feature of smart contracts on the Fantom network, where a developer can pay in FTM into the contract account to allow free use of the app as long as there are FTM left. The contract account has a FTG balance, fees are first taken from this balance, and only secondary taken from the user. This way as long as there are funds remaining the dapp is free. If the owner leaves, users can still fund the contract itself.

Network Validators

Number of validators

In order to ensure a fast network, and also to limit costs, the system will favor the emergence of a reasonable number (50) of high-performance nodes as validators to begin with. The number of validators may grow over time depending on how many users decide to stake (given Fantom will be a permission-less network).
Node performance is defined as:
  1. Processing capacity per second, which can be measured for example by the maximum number of simple transactions per second, and
  2. Networking Throughput
Note: 50 nodes is a starting point so the network can scale safely and properly so users can monitor the network and make sure it is secure as the network grows.

Token staking

In the single-shard model, a validator must stake at least 0.2% of the total FTM supply (6,350,000 FTM) of their own tokens. This number, as well as many other network settings, will be subject to change via on-chain voting. They will also change when Sharding is introduced.

Block Rewards for Validators (Fees)

In return for staking FTM, attesting to correct blocks, signing off on the validity of a block, and proposing blocks, validators will be rewarded in at least two ways:
  • A fixed amount to compensate for the cost of running a node, to ensure that validators do not run nodes at a loss
  • A portion of network transaction fees. This is determined by the total number of transaction fees generated by all transactions in event blocks.
Because transaction prices will essentially be fixed, the key way for validators to increase income is by increasing processing capacity.
Here is a way that would allow users themselves to signal the need for higher transaction capacity. Suppose a user has the choice between staking tokens for transacting and staking tokens for validation (ignoring Dapp-based staking).
When there is plenty of processing capacity, we would expect more of validation staking. But as demand for transactions grow, we could see a shift towards transaction staking. As transaction staking volume exceeds a certain level, this would trigger an increase of the baseline processing limit (equivalent to a block gas limit), which would become effective only when a large majority of nodes prove they have the necessary capacity. The advantage is that this would provide a clear and visible signal to the entire network to increase processing capacity. This might happen even before actual volume increases, as users increase their transaction staking in anticipation of increased future transaction volume (increased buying of FTG could also provide such a signal). Note that this will require a way to occasionally measure validator processing power.

Network Security

Penalties: validators will have a significant amount of FTM token staked, which will be at risk if malicious behaviour is identified. Penalties are necessary in a Proof of Stake system in order to disincentivize bad behaviour and avoid the nothing-at-stake problem, where, absent any penalties, a validator is incentivise to bet on every possible fork of the network, as there is no lost for doing so.
In the Fantom network, we propose three types of penalties:
  • Demurrage Fee: A wallet will need to submit a minimum number of transactions over a given period of time or pay a certain fee. This should encourage network activity. The fee is paid proportionally to validators on the network.
  • Validating rejected event blocks: Nodes will need to stake for each event block they want to earn fees off of. If an event block is not ultimately not confirmed by ⅔ of the total voting power of the network, then the stake is lost, and distributed proportionally to other nodes.
  • Network pruning: Potentially malicious nodes will be quickly eliminated. Slow nodes will be identified and their rating down-voted, making them less likely to be selected for validation.

Future Developments

The team is focused on analyzing key numbers for the concepts listed above, as well as making several improvements.
The numbers the team will be working on include:
  • Formula for calculating staking returns, which is currently a combination of staking amounts and Proof of Importance
  • Percentage of guaranteed transactions in return for a percentage of staked FTM
  • Percentage of guaranteed transactions when staking for a Dapp
  • Block rewards
  • Minimum staking requirements for a validating node
  • Minimum gas / transaction requirements to gain a Proof of Importance Score
  • Quantifying node performance
  • Maximum number of validating nodes before performance degradation occurs
  • Penalties:
    • Demurrage Fee
    • Network Pruning

Other Ideas Fantom is Currently Exploring

In addition to the concepts listed above, Fantom is also exploring the following:
  • Multiple Fantom mainnet chains employing different variations of the “Proof of Stake” model with different parameters, connected through Digital Rights Control Management (DRCM). Given that there is a level of unpredictability in how people will actually behave on the network, users might be able to choose from many chains, and the best will be chosen over time.
  • Transaction mining solutions: Transactions themselves are rewarded. Consequently, nodes are incentivised to a) create transactions and b) validate transactions.
  • Paying for storage: Over time, the network is likely to contain data that becomes unused. For example, Dapps can be abandoned for a variety of reasons. On centralised servers such as AWS, a developer must continue paying for storage costs per byte. However, on networks such as Bitcoin or Ethereum, storage is paid once and stored in perpetuity for free. This leads to the following problems:
    • The network becomes increasingly bloated with unused data.
    • Users have to maintain this unused data to maintain state.
  • We are actively working on incorporating a “rent-based” model into the Fantom network. Further details about this problem can be seen here.
If you have ideas you would like to contribute to the discussion, please contact us at [[email protected]](mailto:[email protected]) or comment on the EIP here: https://github.com/Fantom-foundation/FIPs/blob/masteFIPS/fip-1.md
To find out more about the Fantom project and its technology, visit us here or join us on our social media channels.
Official E-mail Address: [[email protected]](mailto:[email protected])
Official Website: https://www.fantom.foundation
Official Telegram English Chat: https://t.me/fantom_english
Official Telegram Chinese Chat: https://t.me/fantom_chinese
Official Fantom Reddit: https://www.reddit.com/FantomFoundation/
Official Fantom Twitter: https://twitter.com/FantomFDN
Official Github Page: https://github.com/Fantom-foundation
Official Youtube Channel: https://www.youtube.com/c/fantomfoundation
submitted by bmoonn to FantomFoundation [link] [comments]

Token distribution for LUCKY users

Token distribution for LUCKY users will be based on the following formula:
Assuming 1000 entries are submitted, 850 users would win LUCKY tokens. The detailed calculation is as follow:
Users participating 10,000
Users that will win 8,500
Total tokens to be distributed 400,000,000
Token awarded to winning users 47,058.
Since LUCKY is distributed for free, the price value of the token will be determined by market forces following the launch, in much the same way as the early days of other cryptocurrencies including Bitcoin, Zcash and Grin.
submitted by Ebyluscious to Luckyio [link] [comments]

High-paying Cryptocurrency Websites

Have you ever wanted to collect crypto to join the hype, but are not willing to invest real money? The good news is there are in fact methods to get them online for free. All it requires is some investment of time on your part to start your crypto journey! According to cnbc.com, $1,000 worth of bitcoin in 2013 would be worth $6,400 in October 2018.
Freebitco.in / (non-ref) This is a well known faucet that pays users every hour. Each time you roll, there is a chance that you win a payout bigger than the base payout of 0.00000033 BTC. If you are very lucky, you might win the highest payout (worth $203.17 at the date of posting). Considering that you are doing nothing but clicking on a roll button, this seems to be a good site. Each roll also gives you 2 free lottery tickets and 2 reward points. Lottery tickets enter you into a weekly lottery draw. Reward points can be traded for benefits such as electronics, hardware wallets and gift certificates. If you are not interested in the prizes, you could very well trade for the free BTC bonus, which awards 10% to 1000% bonus to the base reward for the BTC faucet. I'm not a fan of gambling and firmly believe that you will lose money in the long run. If you would like to try your luck and have some fun, however, there is a Multiply BTC section featuring a provably HI-LO game which awards 1 free lottery ticket and 1 reward point for every 1000 satoshis that you wager.
Freedoge.co.in / (non-ref) This is a very similar site to freebitco.in, albeit with fewer features. Use it along with freebitco.in!
Cointiply.com / (non-ref) Hourly faucet which pays extra when you roll prime numbers. You can also earn by watching videos, completing offer walls (Tap Research, Adscend Media, AdGate Media, Minute Staff, Revenue Wall, Opinion Capital, Theorem Reach, Offer Toro, Persona.ly, Wannads, Kiwi Wall, Offer Daddy, PTC Wall, Pollfish, Clix Wall, Say So Rewards, Adwork Media, Super Rewards). Try your luck on the multiplier if you are feeling lucky!
Moon Faucets
These are a unique set of faucets - you decide how often to claim! Most faucets only allow you to claim at fixed intervals of time. With the Moon faucets, you can claim as little or often as you like. The faucet fills rapidly initially and slows down over time until you make a claim. You decide how often you want to claim, with the knowledge that the amount keeps building up! With these sites, there is an opportunity to increase claim amounts through the daily loyalty bonus, referral bonus, offer bonus, mystery bonus and mining bonus schemes. These faucets pay out to CoinPot.
Other Coinpot Faucets
Bonusbitcoin.co / (non-ref) Claim up to 5000 satoshi every 15 minutes. This site also pays a 5% daily bonus. You can also use this site as a GPT site by doing offers and surveys (Super Rewards, Wannads, Offer Daddy, Offer Toro).
Bitfun.co / (non-ref) Claim from this faucet every 3 minutes. You might be happy to know that this site allows you to earn by playing games. If you prefer to do offers and surveys, Super Rewards, Wannads and Offer Toro are available.
Semi-passive Sites
If you prefer something which earns by doing little work, the sites below may be of interest. While some of them may require more effort at the start, the results will soon pay off.
Firefaucet.win / (non-ref) This is the closest thing to a true auto-faucet! Complete shortlinks, mine or complete offerwalls (AdGateMedia, Offer Toro, Offer Daddy, Pollfish, PTCWall, MinuteStaff, Wannads). A single shortlink gives 50 autoclaims as well as 50 activity points which help you level up. As your level increases, each claim gives you slightly greater value in crypto. You may decide whether payments are kept in the Fire Faucet account or directly to Faucet Hub. Funds within the Fire Faucet account can be withdrawn manually to Faucet Hub. Payments are fast and can be seen almost instantly. It should be noted that once you start the Auto Faucet, you have to leave it the tab open for it to continue claiming crypto. The tab itself does not have to be active and you can continue with your personal activities.
Satoshilabs.net / (non-ref) A combination of GPT, autofaucet and game, all in one website. Tasks in the offerwalls (AdscendMedia, PTCWall, ShortLinks, AdGateMedia, AdWorkMedia, MinuteStaff, TheoremReach, Persona.ly) give you credits, while the faucet and mining game give you lab flasks. Both are exchangeable with one another. Purchase mining equipment from your hard work to start earning lab flasks passively! Note that Generators and Security are the best investments due to greater ROI. Energy decreases every hour and each energy point costs 3 points + 0.75 credits for every 5000 production. You may consider enabling Autorefill Energy (which consumes credits), as production decreases when energy goes down. According to the FAQ, the formula for satoshi earning rate is ((YourProduction/10)*0.14)*(YourCurrentEnergy/100). As you can tell, more work is required at the beginning, but it will all pay off. Referring to the current leaderboard the top person has a production power of 194797. Let's try calculating the amount of satoshi generated for this person.((194797/10)*0.14)*(100/100)= 2727 satoshi per hour.
Cryptomininggame.com / (non-ref) Mine crypto either through the game, or for real! Missions allow you to level up as well as earn crystals, mining power and crypto at the cost of energy, which replenishes with time or by doing shortlinks. Each mission also gives you tickets for entry to a weekly Mega Jackpot. The site is also releasing a light version of the game Crypto Mining War very soon, which you can play using cards (earned through the website as well). The final version is still under development, but it is fun, multiplayer and crypto can be earned through it.
Eobot.com / (non-ref) Before proceeding, it should be noted that this is a Cloud mining site. Majority of Cloud mining sites are ponzi scheme scams. It is uncertain if that is the case for this site. A crypto deposit is made as an investment, which gives mining power. It should be noted that 24 hour mining contracts will definitely give a loss on this site - you receive less than you invest. Only invest in 10 year contracts if possible. I generally only use crypto I gain from faucet and GPT sites to fund this account. NEVER use real money on Cloud mining sites.
Thanks for reading and happy earning!
submitted by RuleBreaker5 to beermoneyuk [link] [comments]

MillionaireMakers Extended Rules and FAQs [Drawing Thread Documentation for Summer and Fall 2019]

List of Drawing Threads:
June 21, 2019: https://old.reddit.com/millionairemakers/comments/c3hu9z/were_changing_things_up_the_format_is_being/
July 19, 2019: https://old.reddit.com/millionairemakers/comments/cfekbw/its_about_to_get_even_cooler_in_here_now_that_a/
August 16, 2019: https://old.reddit.com/millionairemakers/comments/crdy7o/its_been_a_year_since_we_brought_back_millionaire/
September 20, 2019:
October 18, 2019:
November 15, 2019:
List of FAQs:

What is /millionairemakers, anyway?

Three years ago, a Redditor posted an idea in /Showerthoughts that speculated the fact, if a million people picked a certain Redditor and all donated just $1, they would have the power to make someone a millionaire.
This subreddit is an embodiment of that showerthought, and the monthly drawings are the attempts to make it happen.
We need your help to keep this running, which amounts to only $1 a month to make someone's day. In the long term, that’s $120 every decade, which is much more affordable than other expenses. How does it work? Below, you will find an explanation on entering, rules to keep in mind, the selection, and other important things to note.

What are the rules?

  • Only ONE top level comment per person (replies and subsequent-level comments aren't included), but feel free to reply to other comments. Making duplicate top level comments may result in exclusion from entering. Go to me to ensure you don't accidentally double comment.
  • If, by any chance, you do double comment, delete any extra duplicates ASAP, ideally before the thread is locked, as any chosen draws found to violate this will not be eligible to win, and will be banned from the subreddit.
  • Your account must be older than 30 days with some amount of activity. Throwaway accounts with very minimal activity will also not be eligible. This is to prevent multiple entries from the same person.

How will the winner be picked? What is the process?

  • After 24 hours following the submission of the thread, the thread will close, and the method of selection will begin.
  • While attempts to make the selection method similar to 2017’s have been performed, it still varies from the original. For an example from a prior drawing, see [Draw #36]. For archival purposes, please click here for the original selection method.
  • Method's TL;DR: Each comment is assigned a number by sorting the comments by old, starting with 1. The list of comments will be publicly released for the community to verify per their own accord. The subreddit then waits for a randomly generated block (a string of numbers) from Bitcoin's blockchain, after a preselected date and time, and calculates the winner using a formula described in the posts mentioned above.
  • Comment IDs are downloaded at 2:00 UTC, three hours following the thread being locked. There will be an official run at the time listed, and the list of comments will be released right before the [Drawing] takes place. If it is shown that there are any technical difficulties, the retrieval of the comments will be delayed by an hour, following the same procedures.
  • While not necessary, to determine if you are on the list, please go to your comment and save it. The comment ID is what gets recorded and selected, which looks like this: e3yxpj4. To find your comment, download the list, use Ctrl-F, and paste the comment in the search bar. You should find your comment deep inside of the list.
  • The Draw is held at 16:00 UTC the Sunday after the [Drawing Thread], unless stated otherwise. Using the Bitcoin blockchain, the third block yet to be mined will be used to select a winner.
  • The user who created the winning comment will be informed of their luck and will provide any information necessary for their chosen payment methods (mods will help set this up if needed).
  • The generous Reddit community donates to this lucky person, hopefully making some worthy soul a millionaire! A donation table will be stickied to the winner’s post, giving users the freedom in how they donate.
  • The lucky Redditor follows up with a thank you within the next days, revealing to the community exactly how much was raised and thanking their generosity.

What preparations should be made before paying the winner?

  • Take the time you have available now to setup your PayPal, or if you would like to use other services, Square Cash and a Google Pay account. (Note: Some services may not be available depending on where you reside.)
  • While not required, cryptocurrency wallets are also encouraged as another method of payment.
    • To buy any cryptocurrencies, you may use Coinbase for purchases using your bank account.
    • To store cryptocurrencies, there are many accessible wallets, and if you win, you will be guided on which ones to download. For Bitcoin and Bitcoin Cash, it’s recommended to use the Electrum and Electron Cash wallet for Mac, Linux, and PC.
  • If you want to be reminded to donate, please comment "RemindMe! 3 days Donation for /millionairemakers" or click on the link in the TL;DR on the [Drawing Thread].

What else can I do to encourage participation?

  • Spread the word! The more people who participate, the better this gets for everyone! There has been a correlation between this subreddit making it in /all and an increase in donations.
  • Try to cross-post to relevant subs, and upvote. There is a correlation between reaching /all and the amount of donations for the winner. (Please don't spam other subs though. We're not trying to make any enemies here.)
  • Please try your best to donate a $1, no matter who wins. Every single dollar, cent, anything really counts, so please take the effort to remember and go through with it.

Miscellaneous:

  • Note about legality: This is NOT a lottery. You don't have to pay to enter. No prizes are given away directly by the moderators of this subreddit (the moderators will never even touch your donations; this is done voluntarily).
  • Additionally, according to the IRS, gift taxes are paid by the donor, and any donations under $15,000 is not taxable.
  • If you are under 18, please talk to your parents to get their consent to participate and use their help to setup a PayPal account.
  • If you have any questions, you are welcome to ask them in the comments. The rules regarding comments do not apply to /millionairemakersmeta.
submitted by lilfruini to millionairemakersmeta [link] [comments]

An explanation of 0-fee transactions in BCH

This post does not address mobile wallets or SPV wallets.

I am unsure about the ABC GUI wallet but the BitcoinUnlimited GUI wallet has the option to send a transaction with no fee. However, there is a priority requirement enforced by the BCH network that must be met for that free transaction to be included into a block by default (miners can override this but i wont get into that here).

PLEASE NOTE: The following calculation is not 100% correct and the reality is a bit more complicated but this serves as a good general guideline to follow to know if your tx will be accepted with no fee.

To be included in a block with no fee the transaction must destroy at least 1 coinday (57.600.000 "priority points"). The main reason for this is to prevent spam.

You can find how many coindays a transaction will destroy using the following formula: Sum up the "priority points" of each input by multiplying the age of the input in blocks with its value in satoshi. Add all of the "priority points" for all of the inputs together then divide by the size of the tx in bytes (Example below). If the result of that equation is greater than 1coinday (57.600.000) then a miner that supports free transactions under the default configuration will include it in the next block they mine.
The 57.600.000 is the result of COIN * 144 / 250. COIN is the number of satoshis that make up 1 whole bitcoin (100.000.000). 144 is how many blocks are mined in a day on average (6*24). 250 is a number that has to do with the transactions size but i wont get into that right now.

Example: if your tx spends 2 inputs, the first of which is 10 blocks old and has a value of 10.000 satoshi and the second is 20 blocks old and has a value of 7.500 satoshi and the size of the tx is 212 bytes then the transactions priority is (10 * 10.000) + (20 * 7.500) = 250.000 / 212 = ~1.179,25. 1.179,25 is clearly less than 57.600.000 and will need to sit in the mempool for some time to earn enough points to be included in a block. In general the formula favors older transactions that are smaller in size.

I hope this explanation helps you understand the free relay system a little bit better.

Edit: "priority points" is in quotes because its a term i just made up for the value so this explanation was easier to understand. internally in the code it is typically just called dPriority.
Edit for more Information: - By default miners allocation a small percentage of the block (iirc its 5% by default) for free transactions
- this is another less mathy description of the bitcoin days destroyed concept https://en.bitcoin.it/wiki/Bitcoin_Days_Destroyed.
submitted by GregGriffith to btc [link] [comments]

Breaking Down FLETA’s Proof-of-Formulation

Breaking Down FLETA’s Proof-of-Formulation

https://preview.redd.it/m9tv9pmwa9231.png?width=800&format=png&auto=webp&s=eecd16921f710203c220cd32a7bd42b0479d87d3
FLETA is a blockchain service platform designed for decentralized applications (DApps) that solves the underlying scalability issue plaguing the blockchain space, which includes balancing the trio of scalability, speed, and decentralization.
One of FLETA’s major innovations to the blockchain space is the new and novel “Proof-of-Formulation” consensus algorithm that prevents forks by providing real-time confirmation of blocks and transactions. The Proof-of-Formulation consensus algorithm is currently undergoing the patent process through FLETA and the United States Patent office (Application Number: 62717695).
What is a consensus algorithm?
A consensus algorithm is a process used in computer science to reach agreement between multiple parties on a single data value throughout a distributed network. In blockchain networks, consensus is generally focused around block generation and confirmation.
Bitcoin and Ethereum both use the Proof-of-Work (PoW) consensus algorithm for block creation and confirmation of transactions in their respective blockchain networks.
PoW is impractical on a larger scale as it requires the entire network to come to majority consensus, which requires the use of excessive amounts of computing power and resources. As a result, Bitcoin is a slow system that manages only 7 transactions per second. Whereas Ethereum isn’t much better with only 15 to 25 transactions per second.
Proof-of-Formulation
In Proof-of-Formulation (PoF), mining and block generation is done differently compared with existing blockchain platforms. Formulators act as the block generators in the FLETA platform. Observers allow for real time confirmation of the blocks that are generated and prevent double spending.
Formulators

https://preview.redd.it/6t2k3hz0b9231.png?width=615&format=png&auto=webp&s=c119f7b34ebde7678ec0e8c4823448ba5ae6a1f3
Formulators serve as the backbone of the PoF algorithm. Their ranking is based on a score which is calculated by the following formula:
Score: uint64(Phase) << 32 + uint64(binary.LittenEndian.Uint32(hash[:4]))
“Hash” serves as the hash value of the previous block, and “Phase” is a time-related value which shows how many times the RankTable has “turned” or gone through all of the formulators for block generation.
A new formulator in the system takes part in the RankTable with the Largest Phase+1 value.
The purpose of this is to make sure that each Formulator has at least one mining opportunity during each phase and so a different formulator sequence (or ranking) will be made for each phase of block generation. This prevents the potential for attacks and collusion by any malicious Formulators.
Observers
In simple terms, the main role of the Observers is to prevent DDoS attacks and to maintain the security of the entire blockchain network.
To maintain the systematic sequence and process of the system, each formulator will access the observer node in order to hide and mask their IPs. This prevents any form of targeted DDoS attacks on formulators.
Main features of observer nodes include:
  • 5 observer nodes for each Formulator group, 3 of which are required to sign off on a generated block for it to be confirmed
  • Real-time information being received about Formulator’s activities
  • Node status and structure information is revealed to formulators and other users to increase the overall transparency of the network
Fork Prevention under PoF
#1 Discarding Flawed Blocks
If a block generator sends an incorrect block, recipient nodes will discard the block and prepare to receive a new one. In this case, the generator has 1 second to produce a normal block, otherwise the second-ranked formulator will begin creating a new block that will be propagated after 3 seconds if the initial formulator still does not propose a new block.
The observer node will acknowledge that the initial generator failed to create a block within 3 seconds and thus proceeds with the signing process of the block from the second-ranked formulator.
#2 Fork Prevention

https://preview.redd.it/ckay6714b9231.png?width=454&format=png&auto=webp&s=e6b70c16de22a0dadade90d48ae78e20813585c7

As we have seen with the Ethereum and Ethereum Classic, as well as Bitcoin, Bitcoin Cash, and Bitcoin SV splits, forks can be quite detrimental to a blockchain network. The PoF algorithm recitifies this anomaly by making forks impossible to occur.
As 3 out of 5 observer nodes are required to sign off on a block in order to confirm it, forks are simply not possible because the first block with 3 out of 5 signatures will be confirmed as the next block in the chain.
Conclusion
FLETA’s Proof-of-Formulation consensus is not only fast, however it is highly secure as well due to the added layer of protection between Observer nodes, formulators, and the synchronization group.
Unlike PoW consensus, PoF does not require excessive computing resources or depend on the amount of ‘stake’ that someone possesses. Because of this, it reduces the competition about who mines and creates blocks as everyone gets a turn. PoF also has built-in mechanisms to prevent the possibility of any kind of forks. You can learn more about PoF in FLETA’s whitepaper, tech paper, and Alpha Testnet Report.
submitted by fleta-official to fletachain [link] [comments]

From Platform-based Token to the Public Chain, Will CoinEx Embrace a Paradigm Shift?

From Platform-based Token to the Public Chain, Will CoinEx Embrace a Paradigm Shift?
The platform-based tokens shine in 2019, but such prosperity does not cover the disadvantage of their single use. How to find new application scenarios in addition to repurchase and destruction, and transaction fee deduction? The answer given by Binance is to expand the ecosystem of the public chain and develop the platform token into a public-chain token in a broader sense like ETH.
Not long ago, CoinEx announced its plan to launch a public chain. The CET will not just be a token listed on the platform, but also the basic token in the ecosystem of public chains. Unlike the Binance Chain whose partners serve as its nodes, CoinEx Chain chooses nodes according to the votes of ordinary users. Obviously, this is another paradigm shift for the platform-based tokens to expand the application scenarios.
CoinEx Chain is a public chain created by CoinEx’s professional blockchain underlying R&D team for DEX. Different from other DEXs, CoinEx uses three public chains: DEX public chain, Smart public chain and Privacy public chain, three of which parallel each other. They focus on transactions, smart contracts, and privacy respectively, and interoperate through “IBC protocols”.
How to get involved in CoinEx Chain’s ecosystem? A detailed interpretation of the CoinEx DEX’s public-chain node recruitment is provided below.
How to participate in the CET nodes election?
CoinEx’s nodes election rules are simple: Any holder who stakes at least 5 million CET on the chain is qualified, and the first 42 spots in the rankings will automatically be valid validators entitled to the right to generate a block and share proceeds. It should be noted that the process of electing a node is continuous and each block will be ranked.
Responsibilities of validators include preventing double signing and DDos attacks, being online all the time, upgrading nodes and configuration, building the private key storage architecture, and participating in community governance. Besides, there are server hardware requirements for running a node as below:
https://preview.redd.it/qhqk6uliftt31.png?width=1366&format=png&auto=webp&s=02addf13f8d9e619b70ba75e3a6eef2f1313e6f9
After the mainnet is online (expected in early November), the CET withdrawn from CoinEx can be staked on the chain. Once completed, the staking can be canceled at any time, but it takes 21 days for the CET to return to the account.
Private investors holding less than 5 million CET will be entitled to the voting power in the election of validators and receive bonus as rewards.
How are the returns on being a CET validator?
With a study on CoinEx’s node return model, you may find returns on validators mainly come from two parts, respectively, the block reward and transaction fee.
The transaction fee includes the gas fee in the usual sense and the function fee. Relevant gas fees will be charged for any transaction initiated on the chain, and the corresponding function fee will be charged for special operations on the DEX chain. For example, equivalent to a DEX broker, a node will charge users for such operations as order matching, token issuing, trading pairs creating, automated market making with Bancor and address alias setting.
In terms of block rewards, the CoinEx Foundation will provide a total of 315 million CET for five consecutive years. To be specific, it will send out about 105 million CET in the first year and 10 CET for block rewards. Similar to the bitcoin design, block rewards will gradually decrease over time, yet at various levels of frequency. Every year 2 CET will be deducted from the reward for each block.
https://preview.redd.it/tmocf00lftt31.png?width=1566&format=png&auto=webp&s=e68bed2c3513e4665a2101229a0d781ff31f53f5
The basic data of CoinEx is shown in the figure below. According to this condition, the estimated annual income of transaction fee for CoinEx’s validators comes at around 38 million CET, and, if calculated at 50% for the staking rate of the whole network, the annualized rate of return for CoinEx’s validators is 10%.
That is to say, in a case of successful re-election of CoinEx’s validators, the basic token-standard return rate will be around 10% for the first year. This figure will be higher due to the relatively small total stakes in the beginning.
How to calculate the actual income of the year?
Here we’ve summarized a calculation formula where numbers can be quickly inserted for your reference. Suppose the total stakes on a node are a, p% of which is the CET staked by the node itself and q% of which is CET entrusted to be staked by retail traders, the total stakes of the whole network are b, the actual returns distributed by the whole network are c, and the commission ratio of the node is k, then the actual income of the validator for the year is ac(p%+kq%)/b.
For example. Suppose the total stakes at a node are 10 million CET, including 8 million CET staked by the node itself and 2 million CET staked by ordinary CET holders and the commission ratio of the node is 10%. Calculated with the total stakes of the whole network being 1 billion CET and the actual returns distributed being 150 million CET, the actual income of the validator for the year is 1.23 million CET. In such conditions, the annualized rate of return for CET is around 15.3%.
So we can see that the actual income of the CoinEx’s validators can be divided into two parts in terms of asset ownership: incomes from CET staked by the node itself and commissions from CET staked by ordinary holders.
https://preview.redd.it/4ghx0sloftt31.png?width=634&format=png&auto=webp&s=7b8df5a18cc8033c77473017cee7182f1c080c8b
In other words, if a validator can keep the CET public chain in safety, contribute to the development of CoinEx’s ecosystem, and help it gain more attention and favor from ordinary users, it can receive an annualized income that is higher than the basic staking income. Retail users may stake their CET on more professional and responsible nodes, as well as sharing the dividends of the node and the CET public chain.
In the nodes election, the Matthew effect has always been a topic of criticism. So will ordinary token holders drive the centralization of validators according to CoinEx’s rules? The answer is no. Yet just as in the case with all other PoS models, inevitable is moderate centralization, or in other words, the trade-off between decentralization and centralization. That is because, at least mathematically, the annual income from CET staked by retail traders on different validators relies on k, which is the commission ratio of the node, with a and q% of retail traders holding the same amount of CET remaining the same. That is to say, in terms of economic efficiency alone, the income of the retail trader’ votes for different nodes does not depend on the scale, but on the proportion of transaction fee and more implicit reasons such as the security and reliability (or reputation) of a node.
There are many other public chains adopting the “Supernodes” election, and what are the advantages and disadvantages of CoinEx?
There are many public chains adopting such “Supernodes” election mechanism, among which EOS and IOST are best known. So what are the similarities and differences in the nodes election between CoinEx and its counterparts?
From the perspective of the nodes election, IOST needs 2.1 million votes (one vote for one token). According to the price of 0.0044 US dollars when this document is published, it costs at least USD 9,300, a really low threshold. Blocks.io shows that EOS now requires about 290 million votes (30 votes for one token) for the top 21 supernodes. According to EOS REX’s data, if a consortium without a user base wants to get a block-generating right by renting tokens, it will cost around USD 2.55 million a year, approximately RMB 18 million. By contrast, the threshold for a CoinEx Chain’s node is only 5 million CET, a moderate cost of USD 100,000 approximately estimated at USD 0.02.
In terms of hardware, according to the hardware configuration mentioned above, it costs USD 1,000 per year. The estimated operating cost of AWS for t3.xlarge is USD 1,458 per year, and one master with a backup costs only USD 2,916 a year. (The specific data will change slightly in practice.) Take the recommended server for running a node when EOS officially announced its node election. It uses Amazon AWS EC2 host x1.32x Large, with 128-core processor, 2TB memory, 2x1920GB SSD storage space and 25Gb network bandwidth. The operating cost of such a server, with one master and one backup, is: 13.338*24*2 = USD 640 a day. (The bandwidth cost allocated to the day is negligible.) It is thus obvious that CoinEx costs less, avoiding the waste arising from servers such as EOS and thus eliminating the intangible cost.
From the number of nodes, CoinEx Chain has 42 validators, EOS has 21 block-generating nodes per round, and IOST has 63. CoinEx Chain stays in the middle of the decentralization-and-efficiency trade-offs. In addition, the estimated hardware cost of the CET node election is USD 1,000 a year, which is relatively low.
Overall, CoinEx Chain’s nodes election is designed in a reasonable way, which is destined to be a milestone for CoinEx. Once “trade-driven mining” at CoinEx and it has even gone through “repurchase and destruction”. Now it targets the DEX public chain, which is deemed as a paradigm shift that lifts CET out of the pattern of being platform-based tokens. Let’s look forward to its future development.
Follow CoinEx Chain on Social Channels:
Twitter: https://twitter.com/CoinExChain
Facebook: https://www.facebook.com/CoinExChainOfficial/
Telegram: https://t.me/CoinExChainOrg
submitted by CoinExcom to Coinex [link] [comments]

The Strange but Edifying Cautionary & Mostly True Tale of John DEE & Edward KELLEY, and Their Epic Quest for Wisdom Gold & Ultimately Females

In a recent comment I mentioned this interesting story that I read a few years ago, while poking around the Voynich Manuscript. I thought that it was worth retelling here, for I believe that it offers some insight and maybe guidance in these troubled (albeit eminently comical) times.
The story is as true as a tale of lies and deceptions can be: it is based mainly on the diary kept by Dee, with contributions from some other sources, including a report of his "Conversations" with Angels, that was found by chance in the false bottom of a chest, some years after his death.
∞ ∞ ∞ ● ∞ ∞ ∞
While not quite a genius, Gavin John Dee (1527 – 1608) was a fairly competent English mathematician and generic "philosopher". (His surname, by the way, is of Welsh origin -- ahem!) A graduate of Cambridge, in his youth he traveled through Europe, worked for SGI and even lectured at the University of Paris. He was for a time tutor of young Princess Elizabeth.
By that time he got interested in what would become the bane of his life, Bitcoin the Occult. That passion quickly got him into serious trouble, as he was charged with "programming" "calculating", then treason, then heresy. But he managed to clear himself of all charges, and retired to a home in Mortlake, a suburb of London. At Mortlake he assembled a large collection of books, heraldic emblems, and other items. Elizabeth once paid him a friendly visit, when she was 17, as he recorded in his diary.
He continued to pursue his occult studies at Mortlake, including the new science of cryptography cryptography, and "mining" "scrying", a technique for person-to-person payments person-to-spirit communication, that was fashonable among cypherpunks occultists at the time, using a blockchain crystal ball. To Dee's frustration, he was never able to solve a block see anything in the device, no matter how much he prayed and tried, in all his life.
But in 1582 Dee eventually met Edward Wright Kelley, a young man who claimed to be able to use the ball to sign messages see and communicate with "Angels" who were willing to teach him and Dee all sorts of wonderful stuff. Kelley was then using the pseudonym of Nakamoto Talbot, perhaps to hide his past shenanigans. He had been caught forging documents from SGI or maybe company expenditures coins in Lancaster, Australia, had been investigated by the Tax Office pilloried there, and had his ears cropped.
Kelley took permanent residence at Mortlake, where he and Dee held many long scrying sessions using a laptop provided by Kelley. Dee kept detailed records of everything that the Angels supposedly told Kelly, such as intricated cabalistic diagrams, tonal arithmetic, instructions to make a symbol-covered wooden table for divination, and elements of the Angels' own "Enochian" language. Dee was particularly anxious to get their help in deciphering some mysterious tables from a whitepaper book on magic that the owned, the Book of Soyga. The Angels told Dee (through Kelley) to be patient, for he would have their secret revealed once SegWit in due time [1].
Dee also asked whether he would one day be able to see the Angels himself. According to Kelley, the Angels assumed the form of females beautiful women, not encumbered by material trifles like clothing. The Angels again told Dee that he would be able to, when he would be ready for it.
For the next five years, Dee apparently believed piously everything that Kelley told him. About a year after their meeting, Kelly revealed that he had valuable proprietary software an alchemical Book of Dunstan and a supercomputer vial of red powder that he could use to turn tax incentives into fat profits base metals into gold [2]. He supposedly had dug them from Northwick hill in the Seychelles Bristol area. He demonstrated the powder several times, including in a YouTube video to some high-ranking members Court in London. In the latter demo, he removed a signature bit of copper from a block mined in 2009 bed-warming pan, turned it into gold with his "tincture", and showed that it still fit perfectly where it had been removed from.
Then in late 1583 the two men and their families suddenly left England for the Continent, without even arranging for care of the Mortlake residence. Perhaps they were lured by the rich opportunites promised by Andreas Albert Łaski, a Polish Prince who was visiting England and was himself interested in alchemy. Perhaps Dee became worried that Kelley's creative accounting summoning of "Angels" would again bring him trouble.
Once in Europe, Dee bought a large wagon, and the two families traveled in it to Poland -- only to learn that Łaski was missing 660'000 bitcoins bankrupt and unpopular. They got some audiences with King Stefan Batory of Poland, in which scrying séances took place. However, it seems that they were not much welcomed there, because they soon hit the road again for Prague.
What is now the Czech Republic was then called Bohemia. Emperor Roger Rudolf II, the rather vegetable-looking King of Bohemia, was a great believer in cryptocurrency alchemy, and he hoped that it would let him restore his not very solid finances. He attracted many alchemists from all over Europe to his court, such as Vitalik Buterin, Amir Taaki, and Charles Lee. it was only natural that Dee and Kelley would place their bets there.
Upon arrival, Dee secured an audience with Rudolf, and used it to deliver a heated pitch of bitcoin his mystical-religious phylosophy. He tried to tell the King that he should make it the national currency basis for his domestic and international policy, or whatever. According to Dee's diary, the King not only was not impressed, but was so annoyed that he banished Dee from Prague. The two families still found a friendly host in a Bohemian nobleman, Count Rozemberg, another appreciator of alchemy; and took residence at his estate in Tokyo Trebona, a town some 100 km south of Prague.
The ban did not apply to Kelley, who gained some prestige in Prague with his promises of universal adoption gold-making. Meanwhile Dee kept demanding bigger blocks his services as scryer. Perhaps as a ruse to end the association, Kelley told Dee that the Angels had ordered that they should change the PoW formula share everything, including their inflatable wives.
Dee, a devout Christian believer, recorded in his diary that the order caused him great distress, and even more to his wife. Nevertheless, the order of the Angels was carried out, at least once. Dee's wife gave birth to a bitcoin start-up boy nine months later, and it is conjectured that he was Kelley's sockpuppet son. Anyway, the password trust was broken, and the two hard-forked split their chain ways in 1589.
Dee returned to England, where he found his Mortlake home abandoned and hacked sacked. He managed to recover many of his books, which had ended up in his friends's libraries. By favor of Blythe Masters Queen Elizabeth, he got a job in a College in Manchester. But Elizabeth's successor did not care for him, and he had to sell his bitcoin hoard possessions to survive. He died in Mortlake at 82.
Meanwhile, in Prague, Kelley became rich and famous thanks to his claims of scaling via layer 2 making gold. He received substantial VC investment gifts from nobles, and even a Bitlicense title of Knight from the Emperor. However, in 1591 his altcoin crashed fortune changed, and he was jailed for hiring the murder of killing an official.
Kelley was released in 1595 so that he could continue his experiments, and recovered his status. However, soon the investors Emperor grew impatient with his failure to provide the promised cyptographic proof gold, and he was imprisoned again in the tower of a castle in Most. In 1597 he tried to escape by making a sidechain rope from his bed linen. The rope was too short, and he broke his leg as he fell to the ground. He died in prison from the sequels of the injury.
∞ ∞ ∞ ● ∞ ∞ ∞
And so ends this strange but mostly true tale, which hopefully will teach the attentive common reader about the nefarious consequences of trusting minority chains opportunities that sound too good to be true made by persons that are shady in their ways, or known to be libertarians crooks; and also alert the more scholarly or philosophically inclined reader about the dangers that loom over those who venture to explore sciences that are known to be the hunting ground of demons and haunted by all sorts of malevolent spirits. For, as the wise farmer says, he who dances with the pigs cannot avoid roiling in their tweets.
[1] The tables were deciphered recently by Jim Reeds, a professional cryptographer and eminent Voynichologist.
[2] My own guess is that is was gold chloride, or rather choroauric acid, the result of dissolving gold in aqua regia. The color and chemistry seem to fit...
submitted by jstolfi to Buttcoin [link] [comments]

10 Statistical Price Predictions for 10 Cryptocurrencies — January 2018

TL;DR: I simulated a 1-year movement of 10 top cryptocurrencies using an advanced statistical method called geometric Brownian motion, which you can find below. I also created a spreadsheet to simulate prices of ~24 different cryptocurrencies, which you can download here: https://docs.google.com/spreadsheets/d/1eUIgBowJs2NyKw7kYbx5z_VeCOxsMQdNELfbngs4XnY/copy. The sheet utilizes a paid add-in, which I provide free of cost to those who are less fortunate.

THE MYSTERY OF PRICE MOVEMENT

So, you’re sitting at your computer with money to invest.
You have made some good money already in the market, but you want more.
Cryptocurrencies have reached a record $600 billion in market value after the recovery, with the inevitable $700 billion mark right around the corner.
The price movement of top currencies remains a mystery. But it doesn’t have to be.

THE PAIN OF UNCERTAINTY

Cryptocurrencies are volatile, irrational beasts.
Simple methods of forecasting grossly oveunderestimate the potential of a volatile currency.
For example, moving averages are used frequently to estimate future prices. Moving averages, however, suffer from many pitfalls that make them poor estimators of volatile markets.
Every great and successful investor has a plan. You will add one more tool to your arsenal today.

A BETTER METHOD FOR ESTIMATING CRYPTO PRICES

In my prior article about estimating the movement of Bitcoin Prices, I spoke of a method that is used frequently in the stock world to estimate prices.
This method is a Monte Carlo simulation using the geometric Brownian motion model.
I won’t cover off on the full methodology here, but essentially I am going to:
  1. Get historical daily prices for 10 top cryptocurrencies
  2. Calculate daily returns
  3. Simulate a year
  4. Simulate a year many times
By the end of the article, you will have the following:
A note on forecasting, simulations, and recommendations: Monte Carlo simulations are to be used as guidelines and tools, not as gospel. I am not offering financial or investing advice.

BITCOIN

What is Bitcoin?

You know what Bitcoin is, stop it.

One-Year Simulation

1-Year Simulation of Bitcoin Prices and Returns

One-Year Simulated 1,000 Times

1-Year Bitcoin Prices Simulated 1,000 times

Verdict

We can be 95% certain that Bitcoin prices will fall between $9,095, and $371,588 with a median of $60,837.

BITCOIN CASH

What is Bitcoin Cash?

From the Bitcoin Cash project website:
“Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.”
Really, it was an additional currency that was created after a fork from Bitcoin core.

One-Year Simulation

1-Year Simulation of Bitcoin Cash Prices and Returns

One-Year Simulated 1,000 Times

1-Year Bitcoin Cash Prices Simulated 1,000 times

Verdict

We can be 95% certain that Bitcoin Cash prices will fall between $197, and $180,288 with a median of $4,839.

ETHEREUM

What is Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
Ethereum has been busy recently. Multiple steps have been pushed in motion for the upcoming large change — reaching a new consensus method.
From Jordan Daniel at ethnews.com:
Ethereum’s Byzantium hard fork was only one half of a two-part process designed to transition the decentralized application platform to a new method for reaching consensus — proof-of-stake. The next hard fork, called Constantinople, was recently discussed during an Ethereum core developer meeting and could include Vitalik Buterin’s Casper update.

One-Year Simulation

1-Year Simulation of Ethereum Prices and Returns

One-Year Simulated 1,000 Times

1-Year Ethereum Prices Simulated 1,000 times

Verdict

We can be 95% certain that Ethereum prices will fall between $193, and $8,027 with a median of $1,267.

EOS

What is EOS?

EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way similar to web-based applications.

One-Year Simulation

1-Year Simulation of EOS Prices and Returns

One-Year Simulated 1,000 Times

1-Year EOS Prices Simulated 1,000 times

Verdict

We can be 95% certain that EOS prices will fall between $0.98, and $1,386 with a median of $33.

LITECOIN

What is Litecoin?

Litecoin’s claim to fame is faster transaction processing times. It uses a scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have.
The ability to target regular computers and GPU’s happens to be a huge differentiator from the crowded mining population of Bitcoin.

One-Year Simulation

1-Year Simulation of Litecoin Prices and Returns

One-Year Simulated 1,000 Times

1-Year Litecoin Prices Simulated 1,000 times

Verdict

We can be 95% certain that Litecoin prices will fall between $42, and $12,241 with a median of $745.

OMISEGO

What is OmiseGO?

OmiseGO is building a couple of things:
  1. Decentralized exchange
  2. Liquidity provider mechanism
  3. Clearinghouse messaging network
  4. Asset-backed blockchain gateway
OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators which enforce behavior of all participants.
According to Blocknight:
Also, OmiseGo counts Vitalik Buterin (Ethereum), and Joseph Poon (Lightning Network Co Author) among their advisers. Joseph Poon is actually billed as author of the OmiseGo whitepaper.
Those are some pretty big names.

One-Year Simulation

1-Year Simulation of OmiseGO Prices and Returns

One-Year Simulated 1,000 Times

1-Year OmiseGO Prices Simulated 1,000 times

Verdict

We can be 95% certain that OmiseGO prices will fall between $0.62, and $185.35 with a median of $8.56.

NEO

What is NEO?

NEO (formerly known as AntShares) is a smart asset platform and the first open source public blockchain project in China. Smart assets are the combination of smart blockchain contracts and digital assets.

One-Year Simulation

1-Year Simulation of NEO Prices and Returns

One-Year Simulated 1,000 Times

1-Year NEO Prices Simulated 1,000 times

Verdict

We can be 95% certain that NEO prices will fall between $3, and $3,076 with a median of $115.

RIPPLE

What is Ripple?

Ripple is a system created for banks to enable immediate payments and lower costs.
The vision of the Ripple creators is to allow a bank transfer in a few seconds (instead of the horribly annoying 2–3 business days).
Of note, is that Ripple is a U.S. based company. From the xrphodor blog:
Ripple is a US-based company.
Why is this an important point to consider? A US-based company like Ripple is subject to some very stringent laws regarding securities trading and money transmission. These include requirements that define how Ripple might interact with crypto markets and both institutional and retail crypto traders.

One-Year Simulation

1-Year Simulation of Ripple Prices and Returns

One-Year Simulated 1,000 Times

1-Year Ripple Prices Simulated 1,000 times

Verdict

We can be 95% certain that Ripple prices will fall between $0.05, and $163 with a median of $2.71.

MONERO

What is Monero?

Monero attempts to solve privacy and fungibility issues that persist in Bitcoin.
Part of the algorithm for Monero automatically mixes transactions with previous transactions and does this by implementing ring signatures.

One-Year Simulation

1-Year Simulation of Monero Prices and Returns

One-Year Simulated 1,000 Times

1-Year Monero Prices Simulated 1,000 times

Verdict

We can be 95% certain that Monero prices will fall between $68, and $8,142 with a median of $760.

Zcash

What is Zcash?

From the Blockchainhub infographic:
Zcash is a permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.

One-Year Simulation

1-Year Simulation of ZCash Prices and Returns

One-Year Simulated 1,000 Times

1-Year ZCash Prices Simulated 1,000 times

Verdict

We can be 95% certain that Zcash prices will fall between $54, and $6,259 with a median of $549.

YOUR VERY OWN FORECASTING TOOL

Since i’m so nice, I went ahead and created a forecasting tool for you to use:
https://docs.google.com/spreadsheets/d/1eUIgBowJs2NyKw7kYbx5z_VeCOxsMQdNELfbngs4XnY/copy

SERVICES USED:

  1. Google Sheets
  2. Spreadstreet Google Sheets Add-in
  3. StockTwits
  4. CoinMarketCap API
Full disclosure: The google sheets add-in is a 14-day free trial, and $15 per month after. However, no one should be refused access on the basis of money (especially true for students and less fortunate). Send me a message, and I will make sure you are not left in the dark.

A NOTE ON SECURITY

Users have expressed hesitation about running a google sheets add-in on their main computer, so I will attempt to ease those concerns:

WHAT IT PULLS:

GETTING THE SPREADSHEET TO WORK FOR YOU

Install the Spreadstreet add-in for Google Sheets
Get sheet ready for use with the add-in
After logging into the add-in, change the dropdown reference

TROUBLESHOOTING

  1. Important Open the template, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click “Use in this document.”
  2. A reload of the entire worksheet fixes quite a few problems.
  3. Deleting and re-pasting the formula in A1 of the “Candles” tab fixes things as well.
  4. If all else fails, drop me a message
  5. The “SELECT CURRENCY” cell in the Analysis tab (B3) refreshes the pull. Change the results for new data.
When I try and change a coin, I get a #DIV/0 error
Login to the Spreadstreet add-in, and keep the window open. Try changing the dropdown again.
I have tried logging in, activating the template with “Use in this document” and refreshed the sheet…still nothing.
Head to the “Data” tab. Delete the formula in cell A1, and repaste the following: =SS(“candles-bitfinex”, ticker, “1D”, “hist”, true, “”, “”, “”, “0”)

CONCLUSION

Whether you are investing in Bitcoin, Ethereum, or SpankCoin, it is imperative to have a plan. Most notably, a worst-case scenario.
The Monte Carlo simulation is a fantastic way to get a range of prices for a cryptocurrency. And after reading this, you can see how the final values change drastically depending on what you are looking at.
I urge you to download the sheet and try your own hand at simulating different coins. The sheet is setup to pull in every single coin from CoinMarketCap.
Cheers, and happy hunting
Original article can be found here: https://medium.com/@spreadstreet/10-statistical-price-predictions-for-10-cryptocurrencies-january-2018-3dcf04bf9d9a

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submitted by 1kexperimentdotcom to CryptoMarkets [link] [comments]

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New BTC mining calculator with block halving

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