People had been speculating since the dawn of crypto when the world’s largest online marketplaces, the ones of the Amazon caliber like eBay, Etsy or AliExpress, and, well, Amazon itself, would start to accept cryptocurrencies. There were a slew of rumors, opinions, and theories thickly interspersed with false reports popping up here and there of Amazon and its little cousins being on the verge of embracing cryptocurrencies. On top of that, someone has actually posted a petition on change.org to add Ether to Amazon as a payment method. by StealthEX Long story short, that was a waste of time. High hopes fell flat, and people lost religion. But not all. As the common wisdom goes, when hope dies, action begins. This exposition describes one such effort which tries to bring to fruition the idea of a decentralized marketplace for trading goods and services. And as you might have already figured it out, with a cryptocurrency as a means of payment. So let’s welcome Particl Marketplace and see what it has to offer – and what Amazon has missed.
What is it, in simple words?
Particl Marketplace is an online marketplace where you can trade goods and services. Not a big deal, you may think. However, what distinguishes it from places like Amazon as well as cryptocurrency-enabled marketplaces is the decentralized nature of purchases on Particl. You can think of it as a variety of a decentralized cryptocurrency exchange (aka DEX) where trades are being conducted on-chain. But in case of Particl, it is goods and services that are being traded, not fiat or crypto, with deals on-chain as well, fully encrypted and decentralized. Particl is a global peer-to-peer privacy-centered marketplace that uses an automated two-party escrow system. It is crypto-agnostic and designed to work with any cryptocurrency, creating a secure, highly-scalable environment supported by a privacy-focused blockchain-based platform. The team behind the project sees its mission in developing “a new decentralized, private and democratic economy” that is governed by the network of its users, with no central authority or middleman getting in the way. In the project developers’ own words, Particl enables everyone to participate in a free, anonymous exchange of all kinds of goods, without paying any fee and regardless of geographical location. To be sure, you are already thinking about Silk Road and its dark fate, and that the government is going to crack down monumentally on Particl one day. Well, the outcome may vary as the payments on the platform are made using its own cryptocurrency PART, with its laser focus on privacy and anonymity. But more on this later.
How did it grow up?
The development of the Particl project started in early 2017 with the release of the white paper describing the team’s vision for the marketplace, which was shortly followed by a successful seed funding that brought in enough funds ($750,000) to support the development of the project for a year (it turned out sufficient to last for over two years). These donations helped to establish the Particl Foundation, a non-profit Swiss organization with the goal of providing legal protection for the project to ensure its sustained development and compliance with government regulations. It receives 10% of all the staking rewards generated on the Particl network, making the project self-sustainable and free for most uses. Unlike other such projects in the crypto arena, Particl has been using its own blockchain from day one, which happened to be July 17, 2017. It was specifically designed to be crypto agnostic by supporting and working with any cryptocurrency. Additionally, it supported the smart contract tech out of the box, giving users an ability to build all kinds of decentralized applications (dApps) that can be directly integrated into the Particl marketplace. On May 31, 2018, the Particl Marketplace, the Holy Grail of the entire endeavor, was made available for alpha testing on the testnet of the project, which later split into development and stable branches. It went live with the mainnet release of the Particl Open Marketplace on August 12, 2019, which featured Particl Desktop 2.0.0, a client-side application providing user interface and built-in wallet functions. On November 25, 2019, the Particl Desktop 2.3.0 client was released that enabled Bitcoin payments and marked the introduction of untraceable transactions. With the help of the new in-wallet exchange module, everyone can easily swap their bitcoins for the native PART coin. Moreover, the module allows seamless integration of third-party accountless exchange services right into the marketplace, with StealthEX being one of them.
How is it different from other marketplaces?
The common solution many P2P marketplaces implement to protect buyers and sellers from the other party failing to honor their end of the bargain is through third-party escrow, where the “third-party” in the majority of places and cases is the platform itself that the market participants must mutually trust. In short, it is a single point of failure. And the selling (pardon the pun) point of the entire Particl’s marketplace is its decentralized escrow, which is a thing entirely between the two parties engaged. No middlemen allowed here! And these are not empty words. Particl implements the concept best known as Mutually Assured Destruction (aptly shortened as MAD), a military doctrine you are certainly familiar with, and probably even afraid of, that consists in a mutual destruction of two belligerent parties in an all-out nuclear holocaust. If you are curious, the idea stems from the game theory and has a lot to do with the Nash Equilibrium, of John Nash’s fame. In a nutshell, Particl removes the need for a trusted escrow agent by introducing MAD escrow smart contracts. A MAD escrow contract allows to lock funds in a multi-signature address that can be released only if all the parties sign off on the transaction. So both the seller and the buyer lock in the contract an agreed amount for a specified period of time, with the buyer also depositing the payment for the items purchased. The escrowed funds are released when both parties confirm the fulfillment of the agreement. Should one party break the terms, the funds remain locked for good causing a mutual financial loss until both parties agree to sign off. Another crucial aspect of Particl Marketplace is its end-to-end privacy. The problem with conventional marketplaces acting as an escrow agent is that the communication between the parties should be open to the agent for it to serve as an arbitrator. With Particl, it is no longer required, and all messages between the buyer and the seller are encrypted. Despite being public, only their recipient can decrypt them, which effectively makes messages untraceable. This is also where the PART coin turns up quite handy. It enables three different privacy modes, and with the most secure mode, the Anon mode, PART transactions utilize the RingCT privacy protocol, which hides both the amount transferred and the identity of the parties transacting. Accordingly, every part of the entire Particl trading environment is thoroughly decentralized, and the full anonymity of market participants is maintained at all times, making the platform a completely trustless marketplace. Big Brother is no longer watching you. Aside from that, you can stake PART and generate a source of passive income for yourself. Particl uses a custom Proof-of-Stake consensus protocol, allowing you to get a piece of the pie in the form of new coins created at each block according to the scheduled inflation process. The annual inflation rate is initially set to 5% and goes down 1 percentage point every year until it finally floors at 2% indefinitely. Moreover, these rates are a bare minimum as they assume that all PART coins have been staked. Otherwise, the income will be bigger and better as the same rewards are paid to fewer coins. Additionally, your passive income through staking PART will be augmented by the fees generated through the everyday marketplace operations. Whether it is network fees collected via PART transactions or marketplace listing fees paid by the sellers, all of them contribute to the stakers’ rewards. At the end of the day, staking PART can turn into a profitable business once the Particl platform starts to attract more traffic. In simple words, the more popular the market gets, the more fees it generates, the more coins the stakers earn. As PART is a standalone cryptocurrency, it can be used outside Particl Marketplace as well. So if you plan on using it for purposes other than eCommerce, it is traded on several exchanges, for example, HitBTC and Bittrex, with more exchanges to list PART in the future. There are native Particl wallets available for storing PART such as Particl Qt with Ledger support, Particl-cli, and Particl Copay Wallet, with the latter available for both the desktop and the mobile. There is also a third-party multicurrency Flare Wallet, enabling cold staking for Particl. Running Particl is a collective effort, which means no operational costs and no company bagging profits from it. The marketplace buyers don’t pay any commissions other than tiny network confirmation fees, while the sellers are only charged a small listing fee to keep spam listings to a minimum. This creates a highly competitive environment, with the sellers making more profits and the buyers having access to cheaper goods and services as a result.
What’s in the pipeline?
The next major release of the Particl Marketplace should have been Particl Desktop 2.4.0, but it was later rebranded as Particl Desktop 3.0 to reflect its breakthrough nature. It is set for release in the second half of 2020 and will enable the addition of user-created markets and storefronts, effectively turning the Particl marketplace into a network of specialized markets. And if you think about it, that makes perfect sense. Say, you have a social network account highly merited and full of karma that you want to sell, whatever your reasons might be. Then creating a dedicated market for trading such accounts privately and securely may look extremely appealing to you. Whether it is the right thing to do is another matter, of course. Kidding aside, it is obviously not about selling or offering something that the society on the whole doesn’t approve of or frowns upon. If you are a freelancer, for example, a graphics designer or a translator, you would be certainly interested in the future freelancer markets – along with your potential employers. Put simply, birds of a feather should flock together. To keep things in perspective, popular freelancer markets that exist today charge up to 10-20% of what you would get from your client if you negotiated directly. All in all, establishing communities across the marketplace seems to be the next logical step in the natural evolution and growth of the platform. In fact, it is a little surprising that the Particl team didn’t come up with this idea earlier. Meanwhile, we wish Particl success and good luck in achieving their goals and aspirations. And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example ETH to PART. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your PART coins! Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]. The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/08/26/particl-marketplace-where-sellers-meet-buyers/
We are sending a clear message of integrity and justice, louder than the slander our oppressors can push into the news.
We are almost there. In less than thirty days I will be drafting an unprecedented announcement that your resilience made possible: the announcement that Silk Road has repaid all victims of our February hack. As of today, May 27th 2014, 82.09% of all victims of the Feburary hack have been fully repaid. In June the world will be reminded that when faced with adversity, Silk Road's community doesn't run. We unite. Our enemies may seize our servers, impound our coins, and arrest our friends, but they cannot stop you: our people. You write history with every coin transacted here. It is unprecedented for any entity, darknet or clearnet, to completely repay the victims of a Bitcoin hack. We are sending a clear message of integrity and justice, louder than the slander our oppressors can push into the news. History will prove that we are not criminals, we are revolutionaries. We are slaving to transform a notoriously-violent industry into a safe online marketplace, removing the risk of face-to-face transactions. We do not steal the People's money like Goldman Sachs, Citigroup, and Morgan Stanley. We bail each other out with our own sweat. We are not puppets of fear or greed. We do not run like the cowards at MtGox, TorMarket, or Sheep. Silk Road is not here to scam, we are here to end economic oppression. Silk Road is not here to promote violence, we are here to end the unjust War on Drugs. Silk Road is not here to submit to authority, we are here to defend a foundational human right: freedom of choice. Silk Road is not a marketplace, Silk Road is a global revolt. When the news hits that everyone has been repaid, do your part to help tear down the world's misimpressions about what our movement stands for. Four months of everyone's hard work has almost generated one spark. Throw it into the petrol. Be prepared with your throwaway accounts. Tweet. Upvote. Blog. Email editors. It is an honor to serve you. Defcon
From the front page of the Silk Road six years ago....
r/MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER
MAINSTREETCRYPTOEXCLUSIVE: INTERVIEW WITH ROGER VER https://preview.redd.it/9rycme1mdgr41.jpg?width=200&format=pjpg&auto=webp&s=30c55fb3ff8b3705726a04109797063a26798798 Roger Ver, is one of the five founders of the bitcoin foundation. You could say he was ahead of his time, buying $25,000 worth of bitcoin when they were merely $1 each. He was the first major investor to invest millions in Blockchain.info, Ripple, Kraken, and Bitpay among others. Now he wants Bitcoin Cash, a fork of the legacy chain, to be used as a global P2P currency, and says it can scale just like Satoshi first laid out in the original Bitcoin whitepaper.--------------------------------------------------------------Bitcoincash.orgRank: #5Current Price: $257.65Market Cap : $4,741,042,75924 hour trading volume : 1.741 Billion USD--------------------------------------------------------------Hi Roger, first and foremost, I wanted to thank you for taking the time to do this. You are truly a pioneer in the Bitcoin space, and all of us owe you a debt of gratitude. On behalf of all of us, I wanted to say thank you for advancing the space. 1. First, I want you to take a moment and appreciate how far bitcoin and cryptocurrency has come this past decade. Did you ever believe you would see such growth, interest, and adoption in such a short period of time or has it completely surprised you? We always over estimate the amount of progress that will be made in the short term, but underestimate the amount of progress that will be made in the long term. Crypto currency is another example of that. 2. At what point did it hit you that bitcoin was history in the making? From the very first day I knew it was one of the most important inventions in the history of humankind. The book Digital Gold goes over how I literally had to go to the emergency room because of the excitement I had for Bitcoin. 3. How did you first get into bitcoin, pre Bitinstant? I first heard about it on the FreeTalkLive.com radio show. A full history of the early years is covered well by Digital Gold. 4 .What economists and philosophers do you align with? I think Murray Rothbard fits into both categories and his thinking influenced mine more than any other single author. Others who have influenced me would include: Adam Smith Ludwig von Mises Milton Friedman David Friedman John Locke Henry Hazlitt Frederick Bastiat Larked Rose Ray Kurzweil 6. What has been your favorite moment in crypto history thus far? My favorite moments were reading the underlying philosophy behind the Silk Road. The government has done an amazing job distorting and smearing the underlying message behind the site. My eyes started to tear up when I read this post on the front page of the Silk Road for the fist time: https://www.reddit.com/Anarcho_Capitalism/comments/29diyt/defcons_latest_post_on_silk_road/?sort=top I never bought or sold a single thing there, but I spent countless enjoyable hours reading their forums and exploring the site. 7. What are your future plans for Bitcoin Cash? It isn’t just a hobby, it’s a global revolt. We will become money for the world. 8. Branding is so important. Bitcoin currently has greater brand recognition a la Coca-Cola, and is regarded by many as the “real” Bitcoin, even though this is widely disputed, especially by crypto-fundamentalists. Do you envision a Coca-Cola vs. Pepsi type scenario? Do you envision parity price-wise between the two on a long enough timeline? Bitcoin Cash has more utility than BTC, so in the long run it will have a larger market cap. Currently we are in the era when Myspace was bigger than Facebook, but Myspace’s servers were being over loaded and causing a bad user experience. Eventually people migrated to Facebook and eventually people will migrate away from BTC. 8. a) Have you ever thought of re-branding Bitcoin Cash? No one is in control to do such a thing by themselves. The community can’t even agree on orange vs green for the colors. 9. Bitcoin Cash has the potential to truly be used as a global form of payment rather than merely a store of value, what else excites you the most about the potential of Bitcoin Cash?
Payments for the world. That’s all we need. 10. I asked Adam Back the same question: If you could remove yourself from the equation, and remove bias, how would you objectively evaluate the pros and cons of Bitcoin Cash versus The Lightning Network? Anyone can permissionlessly start using BCH to start sending or receiving payments world wide in about 30 seconds. (The time it takes to download an app) It is accepted by more than 100,000 websites around the world, and has millions of users. Lightning Network would take about a full day to setup and get working permissionlessly, and would take several hundred dollars of additional computer hardware. Once it is setup, you can spend it at about 300 websites world wide, and it has maybe a few tens of thousands of users. 11. When you’re not working, what do you like to do for fun? Favorite hobbies? I enjoy reading, and Brazilian Jujitsu. I’m especially interested in doing more competitions before I get too old. 12. What are a few of your favorite books? What are some that have made a long lasting impact on you? (Can be fiction or nonfiction) I loved the Age of Spiritual Machines. It painted a picture of how exciting the world is going to be thanks to More’s Law. I also loved The Moon is a Harsh Mistress. I see crypto currency being a world life parallel. 13. What are you most excited about for the future of blockchain technology and where do you see the space in 5 years? I’m excited to see wide spread wallets with strong privacy, and more agorism starting to take place around the world. 14. What are your personal theories of who Satoshi was / were, what was their motivation, and do you think something like bitcoin would have inevitably been created eventually, had Satoshi never existed? I don’t know who Satoshi is or was, but it was clear they were trying to build a peer to peer electronic cash system, not what BTC has become today. It was an inevitability that someone would create something like Bitcoin eventually. People like David Friedman and others had been writing about it for decades in advance. 15. What advice would you give our viewers regarding blockchain, business, motivation, or life in general? Read more books. Reading a book like having a one on one tutoring session from the author. It’s the best way to learn directly from the greatest minds the human race has ever produced. BONUS: If you were a director and could make only one film out of all the wild stories regarding crypto, what subject matter would you choose and why? The Silk Road because it embodied the spirit of peer to peer cash and voluntaryism.
Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi
Until one understands the basics of this tech, they won’t be able to grasp or appreciate the impact it has on our digital bank, Genesis Block. https://reddit.com/link/ho4bif/video/n0euarkifu951/player This is the second post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. --- Our previous post set the stage for this series. We discussed the state of consumer finance and how the success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy finance — a weak foundation that is ripe for massive disruption. Instead, the future of consumer finance belongs to those who are deeply familiar with blockchain tech & decentralized protocols, build on it as the foundation, and know how to take it to the world. Like Genesis Block. Today we begin our journey down the crypto rabbit hole. This post will be an important introduction for those still learning about Bitcoin, Ethereum, or DeFi (Decentralized Finance). This post (and the next few) will go into greater detail about how this technology gives Genesis Block an edge, a superpower, and an unfair advantage. Let’s dive in… https://preview.redd.it/1ugdxoqjfu951.jpg?width=650&format=pjpg&auto=webp&s=36edde1079c3cff5f6b15b8cd30e6c436626d5d8
Bitcoin: The First Cryptocurrency
There are plenty of online resources to learn about Bitcoin (Coinbase, Binance, Gemini, Naval, Alex Gladstein, Marc Andreessen, Chris Dixon). I don’t wanna spend a lot of time on that here, but let’s do a quick overview for those still getting ramped up. Cryptocurrency is the most popular use-case of blockchain technology today. And Bitcoin was the first cryptocurrency to be invented.
Bitcoin is the most decentralized of all crypto assets today — no government, company, or third party can control or censor it.
Bitcoin has two primary features (as do most other cryptocurrencies):
Send Value You can send value to anyone, anywhere in the world. Nobody can intercept, delay or stop it — not even governments or financial institutions. Unlike with traditional money transfers or bank wires, there are no layers of middlemen. This results in a process that is much more cost-efficient. Some popular use-cases include remittances and cross-border payments.
A few negative moments in Bitcoin’s history include the collapse of Mt. Gox — which resulted in hundreds of millions of customer funds being stolen — as well as Bitcoin’s role in dark markets like Silk Road — where Bitcoin arguably found its initial userbase. However, like most breakthrough technology, Bitcoin is neither good nor bad. It’s neutral. People can use it for good or they can use it for evil. Thankfully, it’s being used less and less for illicit activity. Criminals are starting to understand that transactions on a blockchain are public and traceable — it’s exactly the type of system they usually try to avoid. And it’s true, at this point “a lot more” crimes are actually committed with fiat than crypto. As a result, the perception of bitcoin and cryptocurrency has been changing over the years to a more positive light. Bitcoin has even started to enter the world of media & entertainment. It’s been mentioned in Hollywood films like Spiderman: Into the Spider-Verse and in songs from major artists like Eminem. It’s been mentioned in countless TV shows like Billions, The Simpsons, Big Bang Theory, Gray’s Anatomy, Family Guy, and more. As covid19 has ravaged economies and central banks have been printing money, Bitcoin has caught the attention of many legendary Wall Street investors like Paul Tudor Jones, saying that Bitcoin is a great bet against inflation (reminding him of Gold in the 1970s). Cash App already lets their 25M users buy Bitcoin. It’s rumored that PayPal and Venmo will soon let their 325M users start buying Bitcoin. Bitcoin is by far the most dominant cryptocurrency and is showing no signs of slowing down. For more than a decade it has delivered on its core use-cases — being able to send or store value.
At this point, Bitcoin has very much entered the zeitgeist of modern pop culture — at least in the West.
When Ethereum launched in 2015, it opened up a world of new possibilities and use-cases for crypto. With Ethereum Smart Contracts (i.e. applications), this exciting new digital money (cryptocurrency) became a lot less dumb. Developers could now build applications that go beyond the simple use-cases of “send value” & “store value.” They could program cryptocurrency to have rules, behavior, and logic to respond to different inputs. And always enforced by code. Additional reading on Ethereum fromLinda XieorVitalik Buterin.
Because these applications are built on blockchain technology (Ethereum), they preserve many of the same characteristics as Bitcoin: no one can stop, censor or shut down these apps because they are decentralized.
Just as tokens grew in popularity in 2017–2018, so did online marketplaces where these tokens could be bought, sold, and traded. This was a fledgling asset class — the merchants selling picks, axes, and shovels were finally starting to emerge.
I had a front-row seat — both as an investor and token creator. This was the Wild West with all the frontier drama & scandal that you’d expect.
Binance — now the world’s largest crypto exchange —was launched during this time. They along with many others (especially from Asia) made it really easy for speculators, traders, and degenerate gamblers to participate in these markets. Similar to other financial markets, the goal was straightforward: buy low and sell high. https://preview.redd.it/tytsu5jnfu951.jpg?width=600&format=pjpg&auto=webp&s=fe3425b7e4a71fa953b953f0c7f6eaff6504a0d1 That period left an embarrassing stain on our industry that we’ve still been trying to recover from. It was a period rampant with market manipulation, pump-and-dumps, and scams. To some extent, the crypto industry still suffers from that today, but it’s nothing compared to what it was then.
While the potential of getting filthy rich brought a lot of fly-by-nighters and charlatans into the industry, it also brought a lot of innovators, entrepreneurs, and builders.
The launch and growth of Ethereum has been an incredible technological breakthrough. As with past tech breakthroughs, it has led to a wave of innovation, experimentation, and development. The creativity around tokens, smart contracts, and decentralized applications has been fascinating to witness. Now a few years later, the fruits of those labors are starting to be realized.
I know that for the hardcore crypto people, what we covered today is nothing new. But for those who are still getting up to speed, welcome! I hope this was helpful and that it fuels your interest to learn more. Until you understand the basics of this technology, you won’t be able to fully appreciate the impact that it has on our new digital bank, Genesis Block. You won’t be able to understand the implications, how it relates, or how it helps. After today’s post, some of you probably have a lot more questions. What are specific examples or use-cases of DeFi? Why does it need to be on a blockchain? What benefits does it bring to Genesis Block and our users? In upcoming posts, we answer these questions. Today’s post was just Level 1. It set the foundation for where we’re headed next: even deeper down the crypto rabbit hole. --- Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/ Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
Fifty Years of Cypherpunk: History, Personalities, And Spread of its ideas
In this review, we tell how the ideas of cypherpunk were born, how they influenced cryptocurrencies, and modern technologies, who formed the basis and why its popularity these days has grown again.
From the early days to today: the chronology of key events of the cypherpunk
In the early 1970s,James Ellis of the UK Government Communications Center put forward the concept of public-key cryptography. In the early 1980s, small groups of hackers, mathematicians and cryptographers began working on the realization of this idea. One of them was an American cryptographer, Ph.D. David Chaum, who is sometimes called the godfather of cypherpunk. This new culture has proclaimed computer technology as a means of destroying state power and centralized management systems.Key figure among the cypherpunk of the 80s — Intel specialist Timothy C. May. His dream was to create a global system that allows anonymous exchange of information. He created the concept of the BlackNet system. In September 1988, May wrote The Crypto-Anarchist Manifesto: people themselves, without politicians, manage their lives, use cryptography, use digital currencies, and other decentralized tools.In 1989,David Chaum founded DigiCash an eCash digital money system with its CyberBucks and with the blind digital signature technology.Since 1992, Timothy May, John Gilmore (Electronic Frontier Foundation), and Eric Hughes (University of California) have begun holding secret meetings and regular PGP-encrypted mailing through anonymous remailer servers. And finally, in 1993 Eric Hughes published a fundamental document of the movement — А Cypherpunk's Manifesto. The importance of confidentiality, anonymous transactions, cryptographic protection — all these ideas were subsequently implemented in cryptocurrencies.The term "cypherpunk" was first used by hacker and programmer Jude Milhon to a group of crypto-anarchists.In 1995,Julian Assange, the creator of WikiLeaks, published his first post in cypherpunk mailing.In 1996,John Young and Deborah Natsios created the Cryptome, which published data related to security, privacy, freedom, cryptography. It is here that subsequently will be published data from the famous Edward Snowden.In 1997, cryptographerDr. Adam Back (you know him as CEO of Blockstream) created Hashcash, a distributed anti-spam mechanism.In 1998, computer engineer Wei Dai published two concepts for creating a b-money digital payment system:
Each member of the system has a copy of the system database with user funds balances (this idea found itself in Bitcoin).
Distributed base, but not everyone has a copy. To maintain the integrity of participants, deposits, fines, and incentives are provided. This was later implemented in the Proof-of-Stake consensus algorithm.
In April 2001,Bram Cohen developed the BitTorrent protocol and application.In 2002,Paul Syverson, Roger Dingledine and Nick Mathewson presented the alpha version of the anonymity network named TOR Project.In 2004, cypherpunk Hal Finney created the Reusable Proof of Work (RPoW) algorithm. It was based on Adam Back's Hashcash but its drawback was centralization.In 2005, cryptographer Nick Szabo, who developed the concept of smart contracts in the 1990s, announced the creation of Bit Gold — a digital collectible and investment item.In October 2008, legendary Satoshi Nakamoto created themanifesto“Bitcoin: A Peer-to-Peer Electronic Cash System”, which refers to the works of the cypherpunk classics Adam Back and Wei Dai.In 2011,Ross William Ulbricht aka Dread Pirate Roberts created the Silk Road, the first major market for illegal goods and services on the darknet.In 2016,Julian Assange released the book "Cypherpunks: Freedom and the future of the Internet."At the beginning of 2018,Pavel Durov, the creator of Telegram, announced the launch of the TON multi-blockchain platform and mentioned his plans to launch TON ICO.In 2019, the Tor Project introduced an open anti-censorship group.
Plenty of services, products, and technologies were inspired by cypherpunk: Cryptocurrencies, HD (Hierarchical Deterministic) crypto wallets, Coin Mixers, ECDHM addresses, Privacy Coins. The ideas of distribution and anonymity were also implemented in the torrents and VPN. You can see the embodiment of cybersecurity ideas in the electronic signatures and protected messengers (Telegram, Signal, and many others).Why there were so many talks about cypherpunk this spring?In April 2020, Reddit users suggested that the letter from the famous cypherpunks mailing dated September 19, 1999, was written by Satoshi Nakamoto himself (or someone close to him). This letter is about the functioning of ecash. Anonymous (supposed Satoshi) talks about the "public double-spending database" and Wei Dai's b-money as a possible foundation for ecash.In addition, researchers of the mystery "Who is Satoshi Nakamoto?" periodically make some noise and discover the next "secret" about one or another legendary cypherpunks. So, in May 2020, Adam Back wrote in response to videos and new hype discussions that, despite some coincidences, he is not Satoshi.Other heroes of the scene are not idle too: in April 2020, David Chaum received $9.7 million during the presale of the confidential coin xx, created to encourage venture investors.
As you can see from the Satoshi Nakamoto's mentions and from the stories of DigiCash, Hashcash, RPoW, Bit Gold, the movement of cypherpunk influenced a lot the emergence of cryptocurrencies. As governments and corporations restrict freedom and interfere with confidentiality, cypherpunk ideas will periodically rise in popularity. And this confrontation will not end in the coming decades.
[Diplomacy] The Third Belt and Road Forum: The Caucasus
June 8th, 2021 Beijing, China The reality is that China does not have the military power that the United States and Russia bring to the world stage, nor do we have decades of Cold War influence that have carved out spheres of influence in the forms of economic unions, alliances, and buffer zones. However, we have the greatest weapons of all on our side: time, and an artificially-devalued currency that allows us to perform what Western economists refer to as "black magic." Our system has confounded the West and its brightest minds for years, and they will continue to scratch their heads as the honorable and powerful People's Republic exercises our soft economic power to carve out our own spheres of influence across the world. Debt is a loaded gun with a hair trigger, a time bomb with a broken clock. There is a reason moneylenders were so hated all throughout human history -- they held power over their debtors, real power. In a world that is becoming increasingly dominated by the multilateral alliance of NATO and the lone Dragon, we must build a multinational web of our own. We do not have natural allies as do the Americans and Europeans, and many around us do not trust us enough to sign onto a permanent military alliance. However, we can slowly bring the nations of the world to appreciate us through copious investments. And it is through these investments that we will make these countries dependent upon us for growth, so that they may one day repay our kindness with a favor of our own request. The greatest minds of China, including Paramount Leader Xi Jinping, Asian Infrastructure Investment Bank President Jin Liqun, and Silk Road Fund Chairwoman Jin Qi have determined that this is our path forward, and we will follow it to the glorious destiny that awaits us. The first Belt and Road Forum of 2021 will focus on a valuable reason, one with limitless potential for growth and profit, and an important battleground in the war for global influence: the Caucasus. Turkey, Georgia, and Azerbaijan have been isolated for this round of offers, focusing on infrastructure, energy, agriculture, and more.
Turkey: The Middle Corridor
A nation seeking to increase its own global standing, the Republic of Turkey recently announced the creation of the Middle Corridor Project, an investment program seeking to increase connectivity between Europe and Asia through Anatolia and the Caucasus. Conveniently enough, the People's Republic share the same goal. While Chinese-Turkish relations are not all they once were, it is our opinion that our nations still have much to gain through cooperation in this arena. Therefore, we bring the following offers to the Republic of Turkey: Working On the Railroad Following the imminent integration of the Baku-Tbilisi-Kars Railway with the Edirne-Kars High Speed Railway, the Turkish-Chinese trade network -- with a total volume of over $100 billion -- will become much faster and more efficient. The vast expansion of this capacity for movement of goods will continue to open up trade avenues between Turkey and China, allowing the Turks to benefit from Chinese investment and affordable manufacturing while Chinese companies will gain access to one of the largest and fastest-growing markets and industrial bases in Europe. To further accelerate and improve this process, China is willing to offer a loan of $2 billion dollars at a 2.4% yearly interest rate for the purpose of more quickly integrating the two rail networks with the rest of the trans-Asian railways. As Chinese companies have been proven to construct a mile of high speed rail for the ludicrously low price of $30 million, this offer should invigorate the process and greatly enhance the railway's capabilities should Turkey accept. The Nuclear Option A major goal of the Turkish Ministry of Energy and Natural Resources throughout the 2010s has been the construction of nuclear power plants in order to increase the nation's share of energy from that source. However, a number of projects have only ended in failure, having met various roadblocks from the safety issues that led to the abandonment of the Sinop Power Plant Project and the deterioration of relations with Russia that have halted the progress on the notable Akkuyu Power Plant Project, which was originally scheduled to be built, owned, and operated by Russian parent company Rosatom. The final nuclear plant scheduled in Turkey is the İğneada Power Plant, to be supported by American company Westinghouse Electric. The People's Republic believes that Turkey would be better off working with the expert Chinese engineers and technicians, rather than the Russians, whose vision of Turkey and willingness to help is clouded by political tension, and the Americans, whose vision of Turkey is little more than a puppet and bulwark against Islamic terrorism in the Middle East. Certainly, Turkey can do better than this. The People's Republic has recognized that Turkey's economy has incredible potential fueled by a hardworking people and a bounty of natural resources. Therefore, we offer the following proposal to the Republic of Turkey:
The China National Nuclear Corporation will take on the project of building, owning, and operating the Akkuyu Nuclear Power Plant in place of Rosatom, replacing the four VVER-1200/509 reactors with four Hualong-1 reactors for a total production of 4,680 MW as opposed to the original 4,456 MW offered by Rosatom. We will offer the same deal as Rosatom, with an added bonus: Chinese investors will provide 95% of financing for the project (which had an estimated cost of $20 billion USD, now likely down to around $15 since the concrete foundations are already under construction as well as the ability of Chinese corporations to provide lower prices) and up to 49% of shares will be available later to sell to other investors. Furthermore, the Turkish Electricity Trade and Contract Corporation is guaranteed the purchase of 75% (up from 70%) of power from the first two reactors constructed, and 30% from the second two units. Since the cost of operation will be lower and the reactors will be more cost-efficient, electricity produced will be sold at a price of $11 per kilowatt hour, down from $12.35 as per the agreement with Rosatom.
The China National Nuclear Corporation will take on the İğneada Power Plant Project in place of Westinghouse Electric Company, which has not yet begun construction. The same deal offered as part of the Akkuyu replacement deal will be offered.
Georgia: On My Mind
Georgia, despite the relative prosperity in Tbilisi and other major cities, is still very much a developing country. It is heavily reliant on agriculture in many regions, and subsistence farming remains quite common throughout rural parts of the nation. The People's Republic's analysis of the country has determined that in order for it to accelerate its growth and drastically increase its standard of living, it must break the economic stranglehold that is subsistence farming, and Chinese corporations are more than willing to assist in this task. In 2019, Maya Tskitishvili, the Georgian Minister of Infrastructure and Regional Development commented that the Belt and Road Initiative would serve an essential function in growing the Georgian economy. As Georgia was one of the first nations to express interest in the initiative back in 2015, we find it fit to repay this faith in kind. Fixing Farms As stated, reforming agriculture through the end of subsistence farming is key to unlocking Georgia's industrial and economic potential. To this end, the Beijing Hosen Investment Management Group, along with a number of smaller Chinese agricultural investment firms, are willing to invest a total of $40 million into purchasing farms of 200 acres or less, or farms that have a projected yearly revenue of $50,000 or less, in order to consolidate them into large farms. These farms will employ at least 80% of their workers as Georgian nationals, while Chinese workers may be immigrated into the country to pick up the remaining jobs that will be created -- a notion that Georgia has previously explored with South African, Armenian, and Arabian nationals. Agriculture is generally associated with economies of scale, meaning that larger farms are more productive and more cost-efficient, so neighboring farms that can be combined into singular large enterprises will have a higher priority for purchase and investment. Furthermore, for larger-scale, Georgian-owned agricultural projects, the People's Republic is willing to offer various loans to Georgian companies. A total of $250 million will be made available at a flat yearly interest rate of 3% for the lease of Chinese-manufactured farming equipment from WeiFang Guanghui Agriculture Mechanism, Shandong Yingsheng Machinery Company, and the Qingdao Iaoshan Tractor Factory. The governments and cooperations of China and Georgia will cooperate to ensure that Georgian farmers who sell their farms will be able to find jobs in the newly-consolidated agricultural conglomerates to ease fears of unemployment. Furthermore, our economists (as well as Georgian economists) estimate that the jobs created by the elimination of subsistence farming will more than compensate for those lost during the transition. Bit by Boring Bit Interestingly, a growing career path in the nation of Georgia is full-time Bitcoin mining, as well as other forms of cryptocurrency. It is becoming quite common for young Georgians to take advantage of powerful Soviet-era electricity grids and the abundance of electricity in the region to mine vast quantities of cryptocurrency, making Georgia one of the leading countries in the crypto market. We believe that we can use this to our advantage. Chinese investment banks, notably the Agricultural Bank of China, will purchase a number of cryptomines and put them to work for the People's Republic, subsidizing part of the electricity cost in exchange for a portion of the profits and a foot in the door of the vast Caucasian energy industry, which will be developed more later.
Azerbaijan: The Middle Child
At the Second International Belt and Road Forum in 2019, Azerbaijani President Ilham Aliyev indicated his country's express interest in taking part of the project to expand its infrastructure and trade opportunities. With the increasing importance of the BTK railway, we see it fit to secure our interests in the Azerbaijani economy so that both our countries may profit. We wish to extend an offer of a loan of $8 billion with an interest rate of 3.2% to Azerbaijan to be used in expanding the Baku International Sea Trade Port, which currently handles 15 million tons of cargo, to handle 25 million tons of cargo by 2028. We would also like to explore the possibility of increased Chinese presence in the Caspian through investments in Caspian Sea natural gas, and the China Petroleum & Chemical Corporation is willing to invest $2.4 billion for the construction of two natural gas drilling facilities in the Bahar offshore oil and gas field in the southern Caspian. These natural gas facilities will employ at least 80% of its labor force as Azerbaijani workers, and up to 49% of shares in the facilities will be made available for sale to non-Chinese investors. There are an estimated 25×109 m3 of natural gas in the Bahar fields alone, and the fields currently produce around 130 billion m3, making them a valuable resource that should yield consistent production and profit well into the future.
The Fourth Belt and Road Forum
The People's Republic is open for business. In the wake of the COVID-19 outbreak that scarred many economies around the world, we want our fellow nations to know that China is willing and able to invest in them to ensure a better future for both our peoples. Currently, China is targeting the Middle East for the next round of investments, but the People's Republic promises that any nation which requests loans will be considered.
February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later. April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD) June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’ July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established August —Bitcoin protocol bug leads to emergency hard fork December — Satoshi Nakamoto ceases communication with the world
January — One-quarter of the eventual total of 21M bitcoins have been generated February — Bitcoin reaches parity for the first time with USD April — Bitcoin reaches parity with EUR and GBP June — WikiLeaks begins accepting Bitcoin donations June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines October — Litecoin released December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.
May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue July — Government of Estonia begins incorporating blockchain into digital ID efforts September — Bitcoin Foundation created October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service November — First Bitcoin halving to 25 BTC per block
February — Reddit begins accepting bitcoins for Gold memberships March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike. May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70 June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder July — Mastercoin becomes the first project to conduct an ICO August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform” December — The first commit to the Ethereum codebase takes place
January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami February — HMRC in the UK classifies Bitcoin as private money March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger” June — Ethereum Foundation established in Zug, Switzerland June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap October — ConsenSys is founded by Joe Lubin December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments
January — Coinbase opens up the first U.S-based cryptocurrency exchange February — Stripe initiates bitcoin payment integration for merchants April — NASDAQ initiates blockchain trial June — NYDFS releases final version of its BitLicense virtual currency regulations July — Ethereum’s first live mainnet release—Frontier—launched. August — Augur, the first token launch on the Ethereum network takes place September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss November — Announcement of first zero knowledge proof, ZK-Snarks December — Linux Foundation establishes Hyperledger project
January — Zcash announced February — HyperLedger project announced by Linux Foundation with thirty founding members March — Second Ethereum mainnet release, Homestead, is rolled out. April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic July — Second Bitcoin halving to 12.5BTC per block mined November — CME Launches Bitcoin Price Index
January — Bitcoin price breaks US$1,000 for the first time in three years February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later March — Multiple applications for Bitcoin ETFs rejected by the SEC April — Bitcoin is officially recognized as currency by Japan June — EOS begins its year-long ICO, eventually raising $4 billion July — Parity hack exposes weaknesses in multisig wallets August — Bitcoin Cash forks from the Bitcoin Network October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis September — China bans ICOs October — Bitcoin price surpasses $5,000 USD for the first time November — Bitcoin price surpasses $10,000 USD for the first time December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits
January — Ethereum price peaks near $1400 USD March — Google bans all ads pertaining to cryptocurrency March — Twitter bans all ads pertaining to cryptocurrency April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year April — EU government commits $300 million to developing blockchain projects June — The U.S. Securities and Exchange Commission states that Ether is not a security. July — Over 100,000 ERC20 tokens created August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange October — Bitcoin’s 10th birthday November — VC investment in blockchain tech surpasses $1 billion December — 90% of banks in the US and Europe report exploration of blockchain tech
January — Coinstar machines begin selling cryptocurrency at grocery stores across the US February — Ethereum’s Constantinople hard fork is released, part two of Metropolis April — Bitcoin surpasses 400 million total transactions June — Facebook announces Libra July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain” August — Ethereum developer dominance reaches 4x that of any other blockchain October — Over 80 million distinct Ethereum addresses have been created September — Santander bank settles both sides of a $20 million bond on Ethereum November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
Flamboyance, elegance, class, luxury, living lavish, name it all. These are the thoughts that come to every naive soul’s mind at the mention of wealth. It gets even more exhilarating if the wealth in this case is to the tune of millions or even billions. For some reason, being rich oftentimes goes together with power, fame and respect. There are a lot of ways to become a millionaire and, as the saying goes, someone can't become a millionaire over night but now it's made possible by the emerging market of cryptocurrency and blockchain. Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. The most important feature of a cryptocurrency is that it is not controlled by any central authority: the decentralized nature of the blockchain makes cryptocurrencies theoretically immune to the old ways of government control and interference. The big question is, is it possible to make millions on this newly acquired innovation? The answer is definitely "YES". There’s a common theme among wealthy cryptocurrency investors and it’s all relative to how soon they invested or became involved in a project. Two age old sayings to ponder : the sooner the better and there’s no time like the present. As said in this article, Kingsley Advani, a 26 year old crypto millionaire, illustrates an interesting narrative that has developed in the fast-paced world of crypto tech. There are dozens of young people under the age of thirty that have realized the massive potential of blockchain technology and have invested, only to see their gambles pay off in a big way. The unique profit growth of these projects has allowed young people with relatively small amounts of capital to create legitimate wealth in a way that has rarely been seen before. Advani was first introduced to cryptocurrencies in 2012 by a friend and, despite the limited use of Bitcoin at the time to Silk Road, and Dark Web transactions, he saw that there was so much more this technology was capable of. He began digging into whitepapers and doing research on the technology that laid the foundation for the blockchain. Being a crypto millionaire is possible and it's not too late for someone to make money from it. Proper adaptation to this emerging market of cryptocurrency can bring a bright future everyone.
WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻♂️
155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
Survey: Investors Likely to Flow Back to Gold; China Blockchain Euphoria Fading
According to a recent Twitter survey, Bitcoin investors are likely to turn to gold as the cryptocurrency’s most recent hype fizzles out, leaving losses in its wake. The poll, conducted by Novem Gold, reveals the extent of the disillusionment among BTC enthusiasts as prices remain largely suppressed in H2 2019. This slump, however, is most alarming because it closely follows the sharp gains the coin had enjoyed after optimistic comments from the Chinese head of state regarding blockchain in October. The speech, widely regarded as a watershed moment for the cryptocurrency, could prove pivotal for Bitcoin and the crypto world. China’s massive population can single-handedly send the coin’s Bull Run back on track. In his speech, Chinese President Xi Jinping referred to blockchain as “ an important breakthrough.” Before the statement, the prevailing sentiment was that the Chinese government was anti-blockchain. The primary signal came after its September 2017 banning of initial coin offerings (ICOs). The speech was therefore interpreted as a green light indicating that China was willing to embrace cryptocurrency trading in all its aspects, which would push Bitcoin prices once more to the moon. China, for many years, has been the epicenter of blockchain and cryptocurrency activity. Before a large number of investors in other parts of the world grew accustomed to Bitcoin, China had already established itself as a mining hub. The East Asian nation has significantly contributed in many ways to the rise of the digital currency sector over the years. As an illustration, as of 2017 the country’s insatiable need for crypto assets was almost 90% of crypto’s total global trading volumes. Shockingly, just a few months into 2018, this demand dipped below the 1% mark. This decline in demand also followed Bitcoin’s most significant price dip, which saw it go from a high of $19,800 to a low of $6,200 each in less than two months.
China is Pro Blockchain
The excitement over the Xi Jinping speech was therefore palpable in October when he said that his country would “seize the opportunity” that blockchain offers in research, standardization, and development. The Chinese President is the first leader of a global economic giant to make such friendly remarks towards a technology that is maligned by some of his peers. If the government embraces cryptocurrencies, Chinese Bitcoin bulls would return and push prices through the roof. Following the unexpected speech, the price of Bitcoin temporarily surged, adding 40% after rallying to a high of $9,526 on November 4th. Unfortunately, the rise halted and a consistent correction happened, lowering the value of the token to a $6,524 mark on November 25th, a much lower price than before the Xi effect. Bitcoin has, however, recouped some of its losses over the last few days, but it is still trading at half the price in comparison to June 2019. The Chinese, in contrast to many other countries, have many advantages when it comes to cryptocurrency awareness. They have, for instance, long been aware of the virtues of speculation into new asset types. They are also more aware of virtual currencies and have, over time, developed cautionary optimism for digital currency regulation. Tencent QQ’s reward program, for example, paid out in Q coins and had more than 221.4 million active users by 2006. Consequently, some of the earliest BTC adopters were Chinese. Bitcoin’s popularity in China also increased with the East Asian country’s rise to the position of the second most powerful economy on earth. China’s 12-th strategic economic plan, released in 2011, was one of many development aspects aimed at the reduction of the poverty rampant in the nation’s rural zones. As a result of the economic success of this plan, China’s emerging middle class burst onto the scene, increasing the country’s domestic consumption from a low of 4% in 2000 to a high of 68% in 2012. The money that was left over after savings were taken care of was channeled into speculative investing. Since this aspect of making money is a big part of the investment culture of the Chinese, the country’s investors took a quick liking to Bitcoin. The Chinese, however, were not purchasing the digital asset for its privacy attributes but rather for its investment appeal. Unlike many Bitcoin enthusiasts in the West who love the digital currency for its P2P features, the Chinese adopted BT for its Gold 2.0 features. Speculating in gold is an investment activity most Chinese are accustomed to. This difference is the reason why, when the Silk Road closed down, the Chinese market for crypto was hardly affected. In the West, however, the closure of the online black-market platform adversely affected Bitcoin prices.
BTC was Gold 2.0 to China
The interest in BTC investment in China rose even further with the loosening of the government’s tight grip on financial markets. At the time, Beijing was in the process of developing diverse financial markets for the new elite to invest in, such as derivatives. A strengthening economy with friendly regulations was just what the Bitcoin investment frenzy required. With the creation of BTC mining hardware in 2013, the participation of the Chinese as miners and investors soared. New 2016 to 2017 crypto regulations, however, brought the Chinese crypto trading market to its knees because they quashed the ability to speculate in Gold 2.0. Despite the death of crypto speculative trading, the Chinese crypto community is still very vibrant despite the stringent regulations around it. This resilience is especially visible in the area of blockchain application. Such innovation is what the Xi Jinping government is promising to support, not decentralized cryptocurrencies that make it difficult for governments to control money as they wish. Since the pro-blockchain October speech, there has been a cascade of activity in the Chinese blockchain scene. The Chinese central bank is, for instance, readying itself to release its Digital Currency Electronic Payment System. The People’s Bank of China intends to replace the use of fiat with the DCEP blockchain-based payments solution. This move would make the country the first major world economy to embrace a native digital currency. With the launch of the digital payment systems, China would find it much easier to extend the influence of its monetary policy to the rest of the world. While Beijing has no regard for “censorship-resistant” and permission-less digital currencies — as they endanger capital controls — it is building its centralized digital currency to supplant Bitcoin. This effort is a true testament to Bitcoin’s significance and the Chinese government’s appreciation that the world’s monetary system is dependent on technological advancements. Unlike the West, China has harnessed the power of internet connectivity without losing its control over freedom of expression. The economic giant is now strategizing ways that it can harness the power of blockchain, albeit minus its decentralized aspects. It could be that the Chinese government’s interest in the blockchain is part of the drive to end the age of the USD. This is an opportunity to move the country past its dependence on US-owned foundational technologies. According to Xi China, through blockchain, will “take the leading position … occupy the commanding heights of innovation, and gain new industrial advantages.” China, however, is determined to make its cryptocurrency more acceptable to the international and domestic markets than Bitcoin has ever been. The second-largest economy has been amassing massive amounts of gold, which analysts say will back its native digital currency. A gold-backed digital currency is acceptable in any part of the world and will significantly enhance Beijing’s de-dollarization policy. It is therefore expected that the county will maintain its leading gold mining and buying positions in 2020, which should add more fuel to the ongoing global gold rally. https://preview.redd.it/nc1l1mlcyq741.png?width=1200&format=png&auto=webp&s=3ea7c308c3e2e226d8eced72adabefba70d49a80
**CSW：**My original idea is defined in white paper for no limits. And I also described this in the P2P Foundation. It is a distributed system. Users use it to connect to each other, and the miners, to stop double Spending. I explain this further late in 2010, I basically said that the network expands to have a number of nodes that become large data center type operations, because it's not about running nodes. People who run nodes are foolish unless that making money, that's it. When I created Bitcoin, it is a overlay network of the peer-to-peer network, the top of peer-to-peer network. We did peer-to-peer. Peer-to-peer means not what you send to the network, and then another user gets it by the network. That is outside the definition of peer to peer. That is a typical centralized mesh. Why Bitcoin works is that user Alice sends to user Bob，Bob received the transaction. So Bob wrote that he received it. He sent it to the network. IP to IP was one of the fundamental parts of Bitcoin that was removed by core right after I left, basically, I fix Bitcoin and I had the lay out in the first place. There's no question that what happened, and whatever else and what version of things Nakamoto wanted, because I am Satoshi Nakamoto. I created Bitcoin. Very soon, people will notice that. If you don't like it, I don't care.
Question 2. As the main witnesses of BTC to BCH fork, what do you think was the main reason for the fork at that point of time? Now what do you think about the fork at the time? Have you ever changed your mind?
CSW: There was a BCH fork away from Bitcoin, BTC added a number of things to make cryptocurrency more anonymous, which makes it illegal, which means the government can shut it down. Don’t ever believe the government can’t stop bitcoin. Government, the US government and Chinese government could stop bitcoin in a heartbeat. They are going to follow international law to shut down. The Liberty Reserve closed down involved 42 countries working together. It involved basically a distributive system of 10,000 different operations. Not Raspberry pie nodes because it is only 15 real BTC nodes, operators to ran money system. We can't work to unable governments to see machines. If the criminal use of bitcoin is to become anonymous that government can seize machines, can arrest people, can torture by law. The American government can enforce orders in China. So BTC wanted to make something that was not bitcoin. It wanted to change bitcoin further. So BTC split away from bitcoin. That's the fork. Bitcoin didn't change. I make sure we kept going. Jihan and Bitmain. I would like to have a talk about what we are planning, and the mining, we are building. Jihan and Bitmain, took the information to go into confidence and make sure that there was a fork. So this fork happened because Jihan and Bitmain are basically a bunch of lying stuff, and that would be found out later. The second fork was only last year. That was with BCH. Just to keep it simple. Bitcoin vary again. There’s no system of bitcoin is out to try to make it illegal, to make it criminal, to make it anonymous. Roger Ver, who helps from things like Silk Road and Charlie's friend money laundering operation, which Charlie's friend went to jail for. Other people like them that invested a lot of the dark websites, which all under investigation at the moment, which will be founded to watch in the next several years. People like Roger and even Jihan, wanted to use bitcoin to take the illegal money and transfer, they want it to be a dark web system. So they added extra objects to change the bitcoin further. They try to allow it to be more anonymous in a different way. So the simple thing is, there is bitcoin as I created, and there is bitcoin designed to be illegal and then it forks.
Question 3. Finally, can we invite Dr. Craig and Mr. Jiang to talk about each other's technology l and vision? What is the most worthwhile point to learn?
**CSW：**Sorry, I don’t look at those broken versions of bitcoin. I have no interest in learning about how people don’t want to understand bitcoin, how about you want to see the value and how they want to create the system or see these cryptocurrencies in the 90s. If people want to do that, that’s all their choice, but I am not interested in watching them go down in flames. Thank you.
CSW: He's supposedly trying to mislead the audience by making out the checksum to pass off the transaction. He is basically trying to lie to the people and the audience, making them seen that I don’t understand bitcoin. If you look at why it works, the address was not part of the bitcoin. Bitcoin is a wallet, exchange peer-to-peer with the template. Basically, why does this work is that you have is a transaction that has a checksum to send between wallets. That checksum is a relevant. It never goes into the bitcoin network. The checksum is added only to ensure the transaction to the network while a wallet is correct. The original version of bitcoin didn’t eventually work that way. So what he is trying to mislead you is to say is what I don’t understand checksum etc., which is the lie propagate by people like Bitmain, where insists what it is you do a checksum of the code and then you hand it up. And the third part of this is very simply put. Without the checksum, the transaction sends to the network properly. The checksum is purely a wallet function, so you can add any checksum function and Wormhole would allow this work. Wormhole was an attempt to make an illegal system. Wormhole is another of these things because Jihan and the others wanted to take money out of China. They work with people to do money laundering, so the value that they see of bitcoin is to help money laundering. So they want to try and lie to people and make it that I don’t understand this technology, because they want to keep their money laundering scam going. So if you actually look at my posts, you will see that I've already explained the checksum in details. If you look at the work bitcoin transaction, you will see there has no transaction checksum. No one wants you to look at that because they want you to stay stupid and ignorant, because spending money out of you requires that you are dumb.
Hi Bitcoiners! I’m back with the 32nd monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you an overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in August 2019 Adoption
Patrick Murck, the General Counsel for the Bitcoin Foundation, told Digital Citizens researchers that he could see a psychological change in the perception of bitcoin almost instantaneously: “There was this assumption that if Silk Road was taken down, of course bitcoin would topple. If the only purpose for bitcoin is illicit transactions, it has no value in a world where there aren’t any ... The vice chairman of the Bitcoin Foundation was charged by federal prosecutors with conspiring to launder more than $1 million in the virtual currency, the latest charges tied to the illicit ... One is Silk Road founder Dread Pirate Roberts, who the FBI claim is currently in their custody. The other is Satoshi Nakamoto, the still-unidentified creator of Bitcoin. Bitcoin trader Charlie Shrem has been sentenced to two years in jail for indirectly helping people swap cash for bitcoins on the Silk Road marketplace. Bitcoin Foundation Comments on the Shutdown of Silk Road (Jinyoung Lee Englund Oct, 04, 2013) We received several requests to comment on the
This video is unavailable. Watch Queue Queue. Watch Queue Queue Check out this Crypto Rap Remix of "Old Town Road" by Lil Nas X ft. Billy Ray Cyrus - Performed by @Chris Record Raps! If you enjoyed this video be sure to s... They say that BitInstant CEO and Bitcoin Foundation board member Charlie Shrem and middleman Robert Faiella laundered drug-trafficking money through the black-market website Silk Road. Shrem and ... В США арестован вице-президент Bitcoin Foundation Чарли Шрэм. Его обвиняют в попытке отмывания денег на сумму ... Issue 1 - BITCOIN FOUNDATION TO FOCUS SOLELY ON BITCOIN CORE DEVELOPMENT ... The Bitcoin Group #34 Silk Road Bitcoin Sale, Expedia Accepts, Sean's Outpost, BitGive, D C - Duration: 1 hour, 11 ...