Bitcoin Correction at $9k Likely After Billionaire ...

Money is a lot more complex than authors realize (40k, Metro, WoW, D&D, IRL)

One of the “easier” ways to create a unique world is to choose a different form of currency. It’s something people notice, since money is ubiquitous. The issue is that money is fairly well developed. It needs to have certain features, or else it flat out doesn’t work.
Examples
In Warhammer 40k, orks use their own teeth as currency. Since every ork has access to teeth, there isn't absolute poverty. Since the teeth decay, hoarding teeth isn't feasible, and it means that orks need to constantly try to expand to get more teeth. Since every ork gives teeth in a tax to their boss, it means that war bands constantly expand and fight, giving the combat happy bastards yet another reason to go to war.
A huge amount of fantasy universes use copper, silver, and gold as currencies.
Metro uses ammo.
In real life, we see many alternative, and ineffective, currencies, ranging from company script, to cryptocurrency, to hyperinflationary national fiat currency, to precious metal based money.
Background
The issue is that all of these are fundamentally flawed in some way as a currency, rendering the economy of that location extremely vulnerable to various shocks that would rightfully upend the entire economy.
A currency fills three major roles 1. A medium of exchange. 2. A store of value. 3. A unit of account.
A medium of exchange means that it is accepted by enough people as having value to be used for trade. Rather than needing to find someone who wants your goods to trade in a chain for something you want (like in every Zelda trading questline), you just give them money and they give you the item. This is why money is more efficient pure barter. It acts to lubricate transactions between peoples.
A store of value means that you won't see all your wealth disappear if you don't spend it now. Which means that you can save up for major purchases, you can make deals that last for years (like mortgages), and people can actually retire on what they’ve earned over the course of their life.
A unit of account means that you know the value of the money and it is standardized. Imagine if the only form of money was in fine art. You could exchange a Van Gogh for a house, and a large spiky suspended ball for a car. Art could fit as a medium of exchange and a store of value, but actually trying to compare artwork to artwork would drive people insane quickly. You'd be in the situation that a dollar isn't worth a dollar, or one Van Gogh isn't worth another Van Gogh. There is no way to convert between lesser and more valuable pieces in a logical manner.
Now, why is that relevant? Because a huge amount of monetary systems in fiction fail these requirements and allow for overt exploitation or unduly hamper the government's ability to respond to threats.
Problems
With regards to the ork teeth, what is functionally happening is constant hyperinflation. Since the teeth decay, there is explicitly no store of value. Which means that the only orks who can afford the best and most fun toys are the warbosses and WAAGH! leaders. There are probably billions of orks who just want to save up for a spaceship or motorcycle or set up a Squig farm of their own, but will never be able to because their money falls apart before their eyes.
Somewhat more seriously, for a race dedicated to war, constantly decaying teeth means that the number of war bands that can attack space based shipping or otherwise need more complex and expensive equipment is limited, reducing the race's overall effectiveness in combat. By attempting to be clever with inflation, by making it so that it couldn't happen, they created the effects of hyperinflation. And, since it is still a money based system, that means that a race designed to go to war can't do it as effectively as they should.
In WoW or D&D or any of a dozen universes where wealth is metal based, using multiple metals as various values of currency would have a similarly debilitating problem. It destroys the unit of account. Basically, the government sets an exchange rate between the chunks of metal, making gold 10x as expensive as silver which is 10x as expensive as copper. But the rarity and expense of gold isn't 100x as much as copper. It is usually much much more. So, it makes counterfeiting extremely attractive, since you can produce 100 small value coins, of the actual metal, and exchange them for a coin of much higher value. Or if it is in the other direction, where you can exchange something where the face value is less than the value of the metal, all the government is doing is funding a small extremely active and profitable metal reclamation industry. This would be an ongoing and unavoidable issue, one that could cripple a government attempting to keep enough money in circulation, or cripple business if the government failed to intervene in an ongoing manner.
Metro has the same issue of lacking a unit of account. The value of a bullet depends on what you're facing and what weapons you have. Even if the nominal value of a .50 cal armor piercing round is high, the number of people who can use it is very low. Consequently, you'll see the value change and possibly invert, as use brings more common rounds out of circulation and makes the more expensive rounds increasingly obviously useless. Without a set value across the board, or something interchangeable and universal, the currency itself will always be in flux, making for a really really shitty form of money.
And a fairly cursory read of human history reveals why being inventive with money is a bad idea.
Company script is money that doesn't function as a medium of exchange. It acts to tie people to a small location and punishes merchants, intentionally gimping economic power of consumers.
Bitcoin, aside from arguably not working as a medium of exchange, fails as a store of value. It is inconsistent and disconnected from reality, making any long term contract in it unfeasible. It has many of the same problems as hyperinflation, except you don't know which direction the value will go.
Less common now, but currencies that are based on the weight of an amount of precious metal suffered from failing as a unit of account. As gold coins were chipped, sweated, plugged, adulterated, or otherwise debased, the value of the coin and the face value became disconnected, and a buyer was dependent on merchants being trustworthy with their scales.
Functionally, money is the way it is because it works fairly well, and the obvious alternatives tend to fail in overt ways. Attempting to be clever with monetary solutions isn't really feasible most of the time.
Solutions
So, are there any currencies that actually make some degree of sense in world, and aren't just "GOLD FOR ALL"?
Surprisingly, yes.
Fallout's bottle caps have surprisingly good arguments around why they are used beyond the water traders of the Hub.
Basically, becoming a medium of exchange is more based on mutual consent than it is on logic.. Shells, pieces of wood, large rocks, feathers, and shiny metals have all been used. Ragnar Benson, of the survivalist fame, claims to have found isolated African tribes that were using Austro-Hungarian bills in the 70s. Unless there's a government that forces something, pretty much anything can and will be used.
By selecting it as a currency, the water traders turned bottle caps into a representative currency, each cap was a certain amount of pure water. They gave it some base level of value that was universally accepted. Outside the Hub, people were willing to trade for them since they had value, prompting other people to accept them on since they could be used in trade, gradually shifting it to something like fiat, abet unbacked by a government. Fallout has a surprising amount of trade across the US, where jet reached the East Coast and the Wasteland Survival Guide reached the West in a couple decades. Over 100 years, it's completely reasonable for bottle caps to become an accepted medium of exchange, valued because people value them.
With regards to unit of account, bottle cap or not is pretty effective. And, since it doesn't have higher denominations, which could introduce the potential for arbitrage, it works. Abet annoying to count out hundreds or thousands of caps of you had to do it manually.
For a store of value, after 100 years as an accepted currency, most large stashes would have been found, and the only input would be through Nuka cola, which is more valuable as soda than caps. And, as described in game, without a press and marking machine, counterfeiting is difficult; labor intensive and involved. There really isn't much way for more caps to come in, which preserves its value. The greatest issue with bottle caps is long term deflation as the population expands, but, while the wasteland continues, population growth will be muted.
Consequently, caps in the Fallout universe ought to provide a stable bedrock for longer term business and functioning governance. Assuming that the world’s inability to actually rebuild despite that being the story for hundreds of years gets resolved.
So what?
So, what makes a good fictional currency? Well, that’s mostly fulfilling the functions of a currency.
  1. Medium of Exchange – that can be nearly anything, as long as it is universally accepted. Attempting to create a new currency for each trader, like some sort of munted script, would be horrible and useless.
  2. Store of Value – The currency should not be easy to counterfeit, which implies 2 things. Either that it is nearly worthless on its’ own (like paper currency) or that the value is derived from a hard to fake commodity, like gold. At the same time, making this needs to be difficult, or else you have the issue of the Elder Scrolls with Transmutation and turning iron into gold, which is also the foundation of their currency. Hyperinflation means broken economies.
  3. Unit of Account – If you’re going to have more than one currency, you need to directly tie them together. More money should be based on the same features as the Store of Value, either just a bigger number on the front, or a larger chunk of hard to adulterate or change money.
And, if you think you’ve solved a major problem, you really really should talk to an economist before designing your world around a special feature.
submitted by Draco_Ranger to CharacterRant [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to conspiracy [link] [comments]

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submitted by hagvu007 to u/hagvu007 [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to CryptoCurrency [link] [comments]

MCS | Bitcoin Bull-Run in 2017 Wasn't Made Overnight

MCS | Bitcoin Bull-Run in 2017 Wasn't Made Overnight
\This post has been written by Hedgehog, an MCS influencer and one of Korea's famous cryptocurrency key opinion leaders.*

https://preview.redd.it/k9mapuykcbg51.png?width=1024&format=png&auto=webp&s=4c6877b92219a594e437a378e889423953b230d0
#Be_a_Trader!
Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

https://preview.redd.it/xt8dvjslcbg51.png?width=640&format=png&auto=webp&s=fe58e59c2e4d42e57bd1221c92d190bbb9cf5769
As of 3PM August 9, 2020, the price of Bitcoin has once again exceeded $12,000, challenging the latest high of $12,154. The passage of additional stimulus packages failed in Congress last week, as opposed to the opposition Democrats who dominated the House of Representatives, anticipating an agreement on an additional US stimulus package. In response, President Trump signed an executive order for economic stimulus measures worth about $1 trillion with tax cuts in mind.
The Bank of Korea also evaluated that "there will be abundant liquidity for the time being as major countries continue to have loose monetary policies." However, some investment banks predicted that gold prices would decline slightly after the third quarter.
The market price of major cryptocurrencies such as bitcoin, which is called 'digital gold' as it is not issued in a specific country, has also begun to wriggle again. Bitcoin, which is repeating both the bull and bear market at a rapid pace, based on the bitcoin chart from 2017, let's look at what is happening with bitcoin today.

https://preview.redd.it/12jr58omcbg51.png?width=2364&format=png&auto=webp&s=05899a65448c1338f5ee6e6b5b959ca331fdbb11
When the bitcoin entered the bull market at the end of 2017, many cryptocurrency traders realized their economic freedom through bitcoin trading. This is a price chart from July 2017 to August 2020. You can see the chart of a steep rise in the Bitcoin market at the end of 2017. In fact, on November 13, 2017, the bitcoin price hit a short-term low of $5950, then hit $19497 on December 17, 2017, and is still the highest price in Bitcoin's history. Many cryptocurrency traders look only at the Bitcoin chart and once again make a big misunderstanding that once bitcoin enters the bull market, it will not decline and will make a steady rise.

https://preview.redd.it/x4kmv17ncbg51.png?width=2348&format=png&auto=webp&s=7b0a8a7c9fce3de84f66096c265b49344e8df2ce
The Bitcoin chart above shows the price of Bitcoin for about a month, from November 13, 2017, the short-term low of 2017 to December 19, the all-time high of Bitcoin. If you check the bitcoin chart at the time of 2017 as monthly candle and yearly candle, you may be mistaken that the price is rising every day. However if you look at the monthly chart at the time of the exact bull run, you can see that there is no unconditional increase. The Bitcoin price steadily increased, but you can see that there are numerous rises and falls until it hit the all-time high. In the bearish market, short position holders unavoidably appeared, creating numerous FUDs, and in the bullish market, long position holders appeared, spreading tremendous fantasies about Bitcoin to others. After doing dozens and hundreds of iterations, Bitcoin reached an all-time high of $19497.

https://preview.redd.it/td9tn2uncbg51.png?width=2338&format=png&auto=webp&s=44de57e629dac4fa0ecc4711c27ade2c2132e84c
The chart above is a chart of Bitcoin prices from just before Black Thursday in March to the present. From $4,000 after Black Thursday to now reaching $12,000, you can see at a glance that there have been numerous increases and decreases. Additional stimulus measures in the US, interest rate freeze, gold price rise, post halving, grayscale trust fund operation expansion, Ethereum 2.0 emergence. In addition, many US institutional investors are continuously entering the market for bitcoin investment with the strategy to hedge the global inflation. The times are good, but the price can't always go upward. Sometimes, the price of bitcoin is expected to rush toward its all-time high of $19497, with countless recurrences of a downtrend and then a bull market.
Investing can't be someone else's behalf, and you shouldn't trust 100% of what others say. You must make profits by using your own investment principles and thorough management. Just because the bitcoin price has gone down for a while, don't be swept away by the FUD of short position holders, and you shouldn't fall into an unfounded illusion that it has turned into a bull market. I think that it is natural for all assets to fall as much as they have risen, and if you conduct good mind control, you can always make objective investment decisions which will produce better results.

💡 "Nothing is Forever in this World" - Charlie Chaplin

You should be aware of the Bitcoin charts that seem to continuously rise will always have an end to the upward trend at some point in time. Even when the ice age comes once again in the Bitcoin markets, there will always be a rise again after the fall. I encourage traders to realize economic freedom at the cryptocurrency derivatives exchange MCS!

I am a Bitcoin margin trader, Hedgehog. Thank you for reading this post.

🔸 MCS Official Website : https://mycoinstory.com
🔸 MCS Telegram : https://t.me/mycoinstory_en

Traders ALWAYS come first on MCS.
Thank you.

MCS Official Twitter (EN): https://twitter.com/mycoinstory_mcs
MCS Official Facebook: https://www.facebook.com/MyCoinStory.official
submitted by MyCoinStory to MyCoinStory [link] [comments]

DD: Predicting a Stock Leap

I wanted to share my thoughts on why I think we've been seeing these recent huge gains and a possible way to capitalize on them.
The Motivation
I too am trying to become a rich fellow autist, just like you. Usually, I'm late to the meme stock party and miss out on profits. So, I thought to myself "If I can think of the similarities between these companies, maybe I can beat the crowd and make some real wsb front page worthy shit."hopefully as gains
The Baseline Stock
As my first stock of analysis, of course, I took the latest meme stock $SPCE, Virgin Galactic. Founder Richard Branson is a multi-billionaire with the proper financial backings to make a company huge. But, I figured that is not enough drive for even the newest of new investors to buy calls/shares in the masses and the stock price to soar. With a quick background check, you could find that Branson tried sending tourists to space back in 2008. [ref] He even said he had over 250 people prepaid for $200,000 each. If that happened today, the stock would have probably rocketed to another dimension.
Even better, the market $SPCE is entering isn't controlled by a single company, leaving room for huge growth and a market with gigantic potential. Fox already reported this hype that the space market is projected to reach upwards of $1 trillion. This was even before Virgin Galactic took off in December, albeit this market cap projection included weather, Wi-Fi, shipping and logistics, television and radio rely on satellite-based services. [ref] This could be a factor.
Past Trends Analysis
It seems, especially nowadays, hype drives certain stocks through the roof. Even the slight thought of a company having a massive market cap leads to a huge response from investors. No news becomes good news for the company and good news creates huge share volumes. Most recently, $SPCE and $TSLA bulled their way to daily gains at unimaginable rates without much concrete news. Some meme stocks mentioned here do well ($AMD, $MSFT), those <10% daily gains have some premise, having solid financials to back it up. But, they do not demonstrate extreme leaps like $SPCE who hasn't even made a penny (since I'm Canadian, I should say a Nickel instead). To strengthen my original reasoning, I needed to think of other stocks that had this situation. Then, it all started to come together...
This is a list of stocks I can think of, irrelevant of their revenue, that showed the best of best short term gains and all had that similarity.
Ahead of the Party
If I want to get ahead of these parties I need to pick the $BYND or the $SPCE @ $8 before it runs up a 89.9° incline. Finding a company that has the potential to completely enter and control a market, without any actual revenue history. That's where this prediction comes in: $DEAC.
The market: Major sports betting on the US market is not yet available and this acquisition corporation plans to change that by merging with DraftKings. [ref] Before this merger was made public, CNBC wrote a huge article on the sports betting, including a market projection of $150 billion (the estimated current illegal gambling market size). DraftKings and FanDuel own 83% of the legal gambling market in New Jersey. [ref] This leads to a massive potential upside in having an IPO in the sports betting industry, projected to be $5 billion dollars.
The opportunity: $DEAC is an acquisition corporation meant exactly for this purpose. They plan to merge with DraftKings and change to a publicly-traded DraftKings. Not only is the market projected to be large, but this deal is also said to be priced in at a market cap of $3.3 billion. By the way, $DEAC is currently at an $840 million market cap. Now... I'm no mathematician, but those numbers are definitely far apart.
The challenge: While a supreme court ruling allowed any state their own legalization ability for sports betting, I believe NYC just turned down daily sports fantasy betting again. It most likely will be appealed but state legalization it is something to keep in mind. Currently, it shows 21 states have DFS regulations. [ref] Tax incentives could be a push for the other states to follow and legalize DFS regulations.
Conclusion/TLDR
There's one thing in common with these huge gaining stonks, They are breaking through to a market that's yet to be controlled. I'm not a millionaire yet, nor I may never be, but the potential upside of a $DEAC investment seems like a great way to make people millionaires, cough cough calls.
May the gains be with you all!
submitted by Dynamik_ to wallstreetbets [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Money [link] [comments]

Arle Ecosystem; Storing your various data

Arle Ecosystem; Storing your various data
The dominance of the blockchain and the crypto currency is not a joke or a fantasy, because the growth and its importance to the world in general is easily accessible and observable by all in the whole world.
Take another instance, and observe the rate of massive adoption of the blockchain and crypto currency by people of different countries using bitcoin as an alternative payment system, integrating ripple with banking services, and also with the aid of smart contracts helping several ecosystems in the blockchain world today.
But do you know that most blockchain platforms are centralized when it comes to your data and information; and this betrays the blockchain ideology on all grounds, several projects have tried to conceal the data, records and identities of several users; and it deserves a better blockchain to do that which is why Arcs fits the Task.

https://preview.redd.it/9pw49kv62xb51.png?width=842&format=png&auto=webp&s=83590bee23cb5a2f05a5972c96c6849aa2aa9050
What is Arcs?
Arcs is providing the whole blockchain system a new world token and a blockchain ecosystem in Alre; Alre is a blockchain ecosystem that provides the entire platform functionality for management and storing of different various data structures, which are essential to businesses and to also monetize data. Monetize data also means earning from storing datas.
And to make the alre platform very functional, the arcs token comes to aid; the arcs token will help the platform achieve non centralized system by operating in a unique way.
How does the Alre Ecosystem operate?
The Alre Ecosystem is operated to work based on 3 functionalities; The functionalities provide the system a flexible framework; that makes it easy for companies, industries t build their system scenarios and application, as well as store their data with powerful insights from the data analytics.


The 3 functionalities of the Alre Ecosystem are;
  1. Information input; This is where data, information of individuals or companies are received into the alre platform. The data requested to be inputted will include gender, address, questionairres answers, blog texts and profile links to social media accounts. The interesting facts is that the Alre is designed using the Internet of Things IoT blockchain and the Artificial Intelligence AI functions to store personal details, health details and location details with the consent of the user, as you input your details to be stored safely on the Alre ecosystem, you receive the arcs token as an incentive.
  2. Information storage; The Alre system calculates the has values for every inputted data and stores it on the blockchain platform automatically. This process ensures that the integrity of the platform is protected and also ensures that data are always verified and never tampered with.
  3. Information utilization; One of the important features of the Alre platform is that it allows companies to integrate their businesses and applications and even offer their own data bank services.
Overview for how the functionalities work is below

https://preview.redd.it/9qlklthc2xb51.png?width=791&format=png&auto=webp&s=866f15ba837d19e243b862a2855045dbefe199a8
In a nutshell, the Alre platform ensures that;
  1. You get to earn as you store and save your data records;
  2. Prevents data tampering that has been existent in a long while;
  3. You get to transact data with other platform users;
  4. You get to earn the arcs token, trade it, or hodl it.
For further information about the platform, do use the links below;
WEBSITE | TWITTER | TELEGRAM | MEDIUM | WHITE PAPER
Author: alekseikivolov
https://bitcointalk.org/index.php?action=profile;u=2636846
submitted by alekseikivolov to u/alekseikivolov [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to economy [link] [comments]

Cryptocurrency Investments: where to start?

For some, investing in cryptocurrency is something of a fantasy, for others it is a profitable source of income. While some are thinking about where to invest their money, someone is actively investing and hitting the jackpot.
In this article, we will talk about two main ways, but first about the benefits of investing in cryptocurrency: Cryptocurrency is a modern technology. The creation of digital money is based on unique technologies. You can use cryptocurrency in almost any country (with a few exceptions). Therefore, you can earn money in any place at any time.
Value is constantly increasing. Bitcoin and other popular cryptocurrencies are growing in price. There can be volatility, but after a while it increases significantly. This can be seen by looking at the volatility of Bitcoin over all the years of its existence. If you approach investing properly, you can easily earn income by trading the differences in rates. Or in the long run, having bought bitcoin now and having waited a couple of years. Expansion. New cryptocurrencies regularly appear that may become a new investment. Forecasting the growth makes it possible to improve your financial situation with minimal effort.
The success of cryptocurrency investments depends on the right choice of digital money. It is important to use a profitable cryptocurrency that does not lead to losses. When choosing, it is necessary to take into account such parameters as Popularity, Mobility, Security.
Many modern cryptocurrencies have these characteristics. But the most common in terms of investment, of course, is Bitcoin.
This is the most valuable cryptocurrency for investors. It been in existence for 10 years and has already become a certain standard for alternative money transfers, ahead of all other cryptocurrencies. In recent years, the price has increased significantly, which can be seen on the chart.
How to make money with Bitcoin? Long term investments. That is the strategy, buy and hold. You need to buy at times when bitcoin drops in price, like now for example.
The easiest way to invest in BTC is to buy it on the exchange. At Raido Finance, this is implemented in several ways. Try our convenient merchant service.
Speculative trading on the exchange requires certain knowledge, skills and proven software. Our company provides everything you need to complete transactions on the purchase and sale of cryptocurrency. Where to start investing? 1. Select one or more cryptocurrencies with which you will work. The payback period and the size of income depend on this. 2. Allocate funds for investment. You need an amount for initial investments and further support of investment activities. 3. Register on the https://raidofinance.eu/ exchange and create a cryptocurrency wallet. You will need it for conducting sales transactions, as well as withdrawing funds. 4. Buy cryptocurrency through our convenient service. Wait for the right time to purchase digital money at the lowest rate. Buy the currency in a recession. 5. Dispose of the cryptocurrency at your own discretion: convert to stablecoins and pay for services, earn by the increase in value, as well as making transactions on the cryptocurrency exchange.
submitted by Raidofinanceexchange to u/Raidofinanceexchange [link] [comments]

Bitcoin and Meritocratic Capitalism

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Capitalism [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to investing_discussion [link] [comments]

[Part 1] KAVA Historical AMA Tracker! (Questions & Answers)

ATTN: These AMA questions are from Autumn 2019 - before the official launch of the Kava Mainnet, and it's fungible Kava Token.
These questions may no longer be relevant to the current Kava landscape, however, they do provide important historical background on the early origins of Kava Labs.
Please note, that there are several repeat questions/answers.

Q1:

Kava is a decentralized DEFI project, why did you implement the countries restrictions to run the node? Will there be such restrictions by the time of the mainnet?

Q2:

According to the project description it has been indicated that staking reward (in KAVA tokens) varies from 3 to 20% per annum. But how will you fight with inflation?

We all know how altcoins prices are falling, and their bottom is not visible. And in fact, we can get an increase in the number of tokens for staking, but not an increase in the price of the token itself and become a long-term investor.

  • Answer: Kava is both inflationary with block rewards, but deflationary when we burn CDP fees. Only stakers who bond their Kava receive inflationary rewards - users and traders on exchanges do not get this. In this way, rewards are inflated, but given to stakers and removed value from the traders who are speculating like a tax. The Deflationary structure of fees should help counterbalance the price drops from inflation if any. In the long-term as more CDPs are used, Kava should be a deflationary asset by design if all things go well

Q3:

In your allocation it is indicated that 28.48% of the tokens are in the "Token treasury" - where will these tokens be directed?

  • Answer: Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released.
  • No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q4:

Such a platform (with loans and stable coins) is just the beginning since these aspects are a small part of many Defi components. Will your team have a plan to implement other functions, such as derivatives, the dex platform once the platform is successfully launched?

  • Answer: We believe Kava is the foundation for many future defi products. We need stable coins, oracles, and other infrastructure first that Kava provides. Once we have that, we can apply these to derivatives and other synthetics more easily. For example, we can use the price feeds and USDX to enable users to place 100x leverage bets with each other. If they both lock funds into payment channels, then they can use a smart contract based on the price feed to do the 100x trade/bet automatically without counter party risk. In this way, Kava can expand its financial product offerings far beyond loans and stable coins in the future.

Q5:

There are several options for using USDX on the KAVA platform, one of which is Margin Trading / Leverage. Is this a selection function or a compulsory function? Wondering since there are some investors who don`t like margin. What is the level of leverage and how does a CDP auction work?

  • Answer: This is a good #Q . Kava simply provides loans to users in USDX stable coins. What the users do is completely up to them. They can use the loans for everyday payments if they like. Leverage and hedging are just the main use cases we foresee - there are many ways people can use the CDP platform and USDX.

Q6:

Most credit platforms do not work well in the current market. What will you do to attract more people to use your platform and the services you provide? Thank you

  • Answer: Most credit platforms do not work well in the current market? I think that isn't correct at least for DeFi. Even in the bear market, MakerDao and Compound saw good user growth. Regardless, our efforts at Kava to build the market are fairly product and BD focused. 1) we build more integrations of assets and expand financial services to attract new communities and users. 2) we focus on building partnerships with high quality teams to promote and build Kava's core user base. Kava is just the developer. Our great partners like Ripple, Stakewith.Us, P2P, Binance - they have the real users that demand Kava. They are like our system integrators that package Kava up nicely and present it to their users. In order to grow, we need to deepen our partnerships and bring in new ones around the world.

Q7:

KAVA functions as a reserve currency in situations where the system is undercollateralized. In such cases new KAVA is minted and used to buy USDX off the market until USDX becomes safely overcollateralized.

Meaning, there will be no max supply of KAVA?

  • Answer: Yes, there is no max supply of Kava.

Q8:

Why Kava?

  • Answer: ...because people are long BTC and the best way to go long BTC without giving up custody is Kava's platform. Because it is MakerDao for bitcoin. Bitcoin has a 10x market cap of ETH and Maker is 10x the size of Kava. I think we're pretty undervalued right now.

Q9:

How do you plan to make liquidity in Kava?

  • Answer: Working with Binance for the IEO and as the first exchange for KAVA to trade on will be a huge boost in increasing the liquidity of trading KAVA.

Q10:

Most crypto investors or crypto users prefer easy transaction and low fees, what can we expect from KAVA about this?

  • Answer: Transaction fees are very low and confirm if seconds. The user experience is quite good on Tendermint-based blockchains.

Q11:

How do I become a note validator on KavA?

Q12:

It is great to know that KAVA is the first DEFI-supported project sponsored by Binance Launchpad, do you think this is the meaning that CZ brings: Opening the DEFI era, as a leader, you feel like how ?

  • Answer: We are the first DeFi platform that Launchpad has supported. We are a very strategic blockchain for major crypto like BNB. Kava's platform will bring more utility to the users of BNB and the Binance DEX. It feels good of course to have validation from the biggest players in the space like Cosmos, Ripple, CZ/Binance, etc.

Q13:

Since decentralized finance applications is already dominating, how do you intend to surpass those leading in the market?

  • Answer: The leaders are only addressing ethereum. BTC, XRP, BNB, ATOM is a much larger set to go after that current players cannot.

Q14:

What does Ripple play in the Kava's ecosystem, since Ripple is like a top tier company and it’s impressive that you are partnered with them?

  • Answer: Ripple is an equity investor in Kava and a big supporter of our work in cross-chain settlement research and implementations. Ripple's XRP is a great asset in terms of users and liquidity that the Kava platform can use. In addition, Ripple's money service business customers are asking for a stable coin for remittances to avoid the currency heading risk that XRP presents. Ripple will not use USDC or other stable coins, but they are open to using USDX as it can be XRP-backed.

Q15:

Considering the connectivity, Libra could be the biggest competitor if KAVA leverages interchain for efficiency.

  • Answer: With regard to USDX, it is important to understand the users interacting with the Kava blockchain have no counterparty that people could go after for legal actions. A user getting a USDX loan has no counterparty. The software holds the collateral and creates the loan. The only laws that would apply are to the very users that are using the system.

Q16:

Wonder how KAVA will compete with the tech giants

  • Answer: Libra is running into extreme issues with the US Senate and regulators. Even the G7-G20 groups are worried. Its important to understand that Libra is effectively a permissioned system. Only big companies that law makers can go after are able to run nodes. In Kava, nodes can be run by anyway and our nodes are based all over the world. It's incredibly hard for a law maker to take down Kava because they would need to find and legally enforce hundreds of business in different jurisdictions to comply. We have an advantage in this way over the larger projects like Libra or Clayton.

Q17:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Technical risk is unavoidable for DeFi. Only time will tell if a system is trustworthy and its never 100% that it will not fail or be hacked. This is true with banks and other financial systems as well. I think for DeFi, the technical risk needs to be priced in to the expected returns to compensate the market. DeFi does have a better user experience - requiring no credit score, identity, or KYC over centralized solutions.
  • With our multi-collateral CDP system, even with it overcollateralized, people can get up to 3x leverage on assets. Take 100 USD in BTC, get a USDX loan for 66 USDX, then buy $66 BTC and do another loan - you can do this with a program to get 3x leverage with the same risk profile. This is enough for most people.
  • However, it will be possible once we have Kava's CDP platform to extend it into products that offer undercollateralized financial products. For example, if USER 1 + USER 2 use payment channels to lock up their USDX, they can use Kava's price feeds to place bets between each other using their locked assets. They can bet that for every $1 BTC/USD moves, the other party owes 3x. In this way we can even do 100x leverage or 1000x leverage and create very fun products for people to trade with. Importantly, even in places where margin trading is regulated and forbidden, Kava's platform will remain open access and available.

Q18:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Kava believes that stable coins should be backed not just by crypto or fiat, but any widely used, highly liquid asset. We think in the future the best stablecoin would be backed by a basket of very stable currencies that include crypto and fiat or whatever the market demands.

Q19:

Compound, maker they're trying to increase their size via the competitive interests rates. THough it shows good return in terms of growth rate, still it's for short-term. Wonder other than financial advantage, KAVA has more for the users' needs?

  • Answer: Robert, the CEO of Compound is an investor and advisor to Kava. We think what Compound does with money markets is amazing and hope to integrate when they support more than just Ethereum assets. Kava's advantage vs others is to provide basic DeFi services like returns on crypto and stable coins today when no other platform offers that. Many platforms support ETH, but no platform can support BTC, XRP, BNB, and ATOM in a decentralized way without requiring centralized custody of these assets.

Q20:

The vast majority of the cryptocurrency community's priorities is symbolic pricing. When prices rise, the community rejoices and grows. When they fall, many people begin to cast in a negative way. How will KAVA solve the negative problem when the price goes down? What is your plan to strengthen and develop the community to persuade more people to look at the product than the price?

  • Answer: We believe price is an important factor for faith in the market. One of Kava's key initiatives was selecting only long-term partners that are willing to work with kava for 2 years. That is why even after 6 months, 0 private investor or kava team tokens will be liquid on the market.
  • We believe not in fast pumps and then dumps that destroy faith, but rather we try and operate the best we can for long-term sustainable growth over time. It's always hard to control factors in the market, and some factors are out of our control such as BTC price correlations, etc - however, we treat this like a public company stock - we want long-term growth of Kava and try to make sure our whole community of Kava holders is aligned with that the best we can.

Q21:

Do you have any plans to attract non-crypto investors to Kava and how? What are the measures to increase awareness of kava in non-crypto space?

  • Answer: We are 100% focused on crypto, not the general market. We solve the problems of crypto traders and investors - not the average grandma who needs a payment solution. Kava is geared for decentralized leverage and hedging.

Q22:

Adoption is crucial for all projects and crypto companies, what strategy are you gonna use/follow or u are now following to get Kava adopted and used by many people all over the world?

Revenue is an important aspect for all projects in order to survive and keep the project/company up and running for long term, what are the ways that Kava generates profits/revenue and what is its revenue model?

  • Answer: We have already partnered with several large exchanges, long-term VCs, and large projects like Ripple and Cosmos. These are key ways for us to grow our community. As we build support for more assets, we plan to promote Kava's services to those new communities of traders.
  • Kava generates revenue as more people use the platform. As the platform is used, KAVA tokens are burned when users pay stability fees. This deflates the total supply of Kava and should in most cases give rise to the value of KAVA like a stock-buyback in the public markets.

Q23:

In order to be success in Loan project of Cryptocurrency, I think marketing is very important to make people using this service without any registration. What is main strategy for marketing?

  • Answer: Our main strategy is to build a great experience and offer products that are not available to communities with demand. Currently no DeFi products can serve BTC users for example. Centralized exchanges can, but nothing truly trustless. Kava's platform can finally give the vast audiences of BTC, BNB, and ATOM holders access to core DeFi services they cannot get on their own due to the smart contract limitations of those platforms.

Q24:

Currently, some project have policies for their ambassadors to create a contribution and attract recognition for the project! So the KAVA team plans to implement policies and incentives for KAVA ambassadors?

  • Answer: Yes, we will be creating a KAVA ambassador program and releasing that soon. Please follow our social media channels to learn about it in the coming weeks.

Q25:

Currently there are so many KAVA tokens sold on exchanges, why is this happening while KAVA is going to IEO on Binance? Are those KAVA codes fake or not?

  • Answer: For everyone's safety, please understand Kava tokens do not exist yet and they will only exist starting with the Binance IEO. Any other token listings or offerings of Kava are not supported by Kava Labs and I highly discourage you all from trying to get them there. It is most likely a big scam. Please only trust Binance for this.

Q26:

KAVA have two tokens, the first is called Kava - a governance and staking token; the second is called USDX - an algorithmically managed crypto-backed stable coin. What are the advantages of USDX compared to other stablecoins such as: USDT, USDC, TUSD, GUSD, ...?

  • Answer: USDX is one of the few stablecoins to be fully backed by crypto-assets. This means that we do not deal with fiat to back the value, and thus we don't have some of the issues when it comes to storing fiat funds with banks and custodians. This also makes our product fully digital and built for the future of crypto growth.

Q27:

As a CEO, does your background in Esports and Gaming industry help anything to your management and development of KAVA Labs?

  • Answer: Esports no. But having been a multi-time venture-backed foundeCEO and have gone through the start-up phase before has made creating and running a 2nd company easier. Right now Kava is still small, Fnatic had over 80 employees. It was at a larger scale. I would say developing software is much more than doing the hardware at fnaticgear.com

Q28:

Why did Kava choose to launch IEO on Binance and not other exchanges like: Kucoin, Houbi, Gate, ....?

  • Answer: Kava had a lot of interest from exchanges to partner with for IEO. We decided based on a lot of factors such as userbase, diverse exposure across multiple regions and countries, and an amazing team that provides so much insight into so many communities such as this one. Binance has been a tremendous partner and we also look forward to continuing our partnership far into the future.

Q29:

Currently if Search on coinmarketcap has 3 types of stablecoins bearing the USDX symbol (but these 3 stablecoins are no information). So, what will KAVA do to let users know that Kava's USDX is another stablecoin?

  • Answer: All these USDX have no volume or listings. We will be on Binance. I am not worried.

Q30:

In addition to the Token Allocation for Binance Launchpad, what is the Token Treasury in the Initial Circulating Supply?

  • Answer: This is controlled by Kava Labs, but with the big cash we have saved from fundraising, we see no reason why these tokens would be sold on the market. The treasury tokens are for use in grants, ecosystem growth initiatives, development, and other incentive programs to drive adoption of the platform.

Q31:

How you will compete with your competitors? Currently i don't see much but for future how you will maintain this consistency ? No doubt it is Great and Unique project, what is the main problem that #KAVA is currently facing?

  • Answer: Because our industry is just starting out, I don't like to think of them as our direct competitors. We are all working to grow the size of the pie rather than get a larger slice from a small pie. The one thing that we believe will allow us to stand apart is the community we are building. Being able to utilize our own community along with Cosmos and our other partners like Binance for the IEO, we have a strong footing to get a lot of early users onto our platform. Also, we are also focusing on growing Kava internationally particularly Asia. We hope to build our platform for an even larger userbase than just the west.

Q32:

How do you explain your project to a random person who has never heard of your project?

  • Answer: non-crypto = Kava is a lending platform for users of cryptocurrencies.
  • crypto = Kava is a cross-chain DeFi platform for loans and stablecoins backed by BTC, BNB, XRP, ATOM and other major cryptocurrencies.

Q33:

Will KAVA team have a plan on implementing DAO module on your platform since its efficiency on autonomy, decentralization and transparency?

  • Answer: All voting is already transparent on the Kava blockchain. We approved a number of proposals on our test net.

Q34:

how to use usdx token :only for your platform or you have plan to use usdx for payment ?

  • Answer: Payments is a nice use case, but demand for crypto payments is still small. We may choose to focus here later if demand for crypto payments increases. Currently it is quite small with the bulk of use remaining in trading and speculative use cases.

Q35:

Do you have plans to spread KAVA ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?

  • Answer: We are already across many continents - I don't think we are in antarctica yet. Africa might be light on nodes as well. I think as we grow on major exchanges like Binance, new node operators will get interested and help decentralize Kava further.

Q36:

Maker's CDP lending system is on top in this market and its Dominance is currently sitting on 64.90 % , how kava will compete will maker and compound?

  • Answer: adding assets like bitcoin which have more value and more users than ETH. It's a bigger market that Maker cannot compete with Kava in.

Q37:

Currently, the community is too concerned about the price. As prices rise, the community rejoice and grow, when falling, many people start throwing negatively. So what is KAVA's solution to getting people to focus on the project rather than the price of the token?

What is your plan to strengthen and grow the community to persuade more individuals to look at the product than the price?

  • Answer: We also share similar concerns as price and price direction is always a huge factor in the crypto industry. A lot of people of course are very short-term focused on flipping for bigger profits. One of the solutions, and what Kava has done, is to make sure that everything structured is for the long-term. So that makes sure that our investors and employees are all focused on long-term gains and growth. Locking vesting periods are part of that alignment. Another thing is that we at Kava are very transparent in our progress and development. We will be regularly posting updates within our own communities to allow our users and followers to keep up with everything we're up to. Please follow us or look at our github if you're interested!

Q38:

How did Kava get on Piexgo?

  • Answer: We did not work with Piexgo. We have not distributed tokens to any exchange other than Binance. I cannot speak to what is going on there, but I would be very wary of what is happening there.

Q39:

Why was the 1st round price so much lower than the current price

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.

Q40:

What is the treasury used for?

  • Answer: Kava's treasury is for ecosystem growth activities.
  • Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released. No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q41:

Everyone have heard about the KAVA token, and read about it. But it would be great to hear your explanation about it. What is the Kava token, what is it's utility? :)

  • Answer: The Kava token plays many roles. KAVA is the native staking token of the Kava blockchain and is used for securing the network. KAVA is delegated to validators, basically professional node operators that run highly-available servers to secure the Kava blockchain. The top 100 validators by weight of staked KAVA earn block rewards that range from 3-20% APR based on the total amount staked in the network. These rewards are split between the validators and the KAVA holders.
  • When users of the platform repay their loans, they must a stability fee (a percentage of the loan) in KAVA tokens. These tokens are burned by the system, effectively deflating the total supply overtime as more users use the CDP system.
  • KAVA is also the primary token used in governance of the platform. KAVA token holders can vote on key system parameter changes and upgrades such as what assets to support, how much USDX in total can be loaned by the system, what the debt-to-collateral ratio needs to be, the stability fees, etc. KAVA holders have a very important responsibility to govern the system well.
  • Lastly, Kava functions as a "Lender of Last Resort" meaning if USDX ever gets undercollateralized because the underlying asset prices drop suddenly and the system manages it poorly, KAVA is inflated in these emergency situations and used to purchase USDX off the market until USDX reaches a state of being over collateralized again. KAVA holders have incentive to only support the good high quality assets so risk of the system is managed responsibly.

Q42:

No matter how perfect and technically thought-out a DeFi protocol is, it cannot be completely protected from any unplanned situations (such as extreme market fluctuations, some legal issues, etc.)

Ecosystem members, in particular the validators on whom KAVA relies on fundamental decision-making rights, should be prepared in advance for any "critical" scenario. Considering that, unlike the same single-collateral MakerDAO, KAVA will be a multi-collateral CDP system, this point is probably even more relevant here.

In this regard, please answer the following question: Does KAVA have a clear risk management model or strategy and how decentralized is / will it be?

  • Answer: Simialar to other CDP systems and MakerDAO we do have a system freeze function where in cases of extreme issues, we can stop the auction mechanisms and return all collateral.

Q43:

Did you know that "Kava" is translated into Ukrainian like "Coffee"? I personally do love drinking coffee. I plunge into the fantasy world. Why did you name your project "Kava" What is the story behind it? What idea / fantasy did your project originate from, which inspired you to create it?

  • Answer: Kava is coffee to you.
  • Kava is Hippopotamus to Japanese.
  • Cava is a region in Spain
  • Kava is also a root that is used in tea which makes your mouth numb.
  • Kava is also crow in Hindi.
  • Kava last but not least is a DeFi platform launching on Binance :)
  • We liked the sound of Kava it was as simple as that. It doesn't have much meaning in the USA where I am from. But it's short sweet and when we were just starting, Kava.io was available for a reasonable price

Q44:

What incentives does a lender get if a person chooses to pay with KAVA? Is there a discount on interest rates on the loan amount if you pay with KAVA? Do I have to pass the KYC procedure to apply for a small loan?

  • Answer: There is no KYC for Kava. Its an open blockchain software platform where anyone with a computer can connect to it and use it.

Q45:

Let's say, I decided to bond my cryptocurrency and got USDX stable coins. For now, it`s an unknown stable coin (let's be honest). Do you plan to add USDX to other famous exchanges? Also, you have spoken about the USDX staking and that the percentage would be higher than for other stable coins. Please be so kind to tell us what is the average annual interest rate and what are the conditions of staking?

  • Answer: Yes we have several large exchanges willing to support USDX from the start. Binance/Binance-DEX is one you should all know ;)
  • The average annual rates for USDX will depend on market conditions. The rate is actually provided by the CDP fees users pay. The system reallocates a portion of those fees to USDX users. In times when USDX use needs to grow, the rates will be higher to incentivize use. When demand is strong, we can reduce the rates.

Q46:

Why should i use and choose Kava's loan if i can use the similar margin trade on Binance?

  • Answer: If margin is available to you and you trust the exchange then you should do whatever is cheaper. For a US citizen and others, margin is often not available and if it is, only for a few asset types as collateral. Kava aims to address this and offer this to everyone.

Q47:

The IEO price is $ 0.46 while the price of the first private sale is $ 0.075. Don't you think that such price gap can negatively affect the liquidity of the token and take away the desire to buy a token on the exchange?

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.
  • TLDR - I think KAVA is undervalued and the liquid supply of tokens is primarily from the IEO so its a safer bet than other IEOs. If the price drops, it will be from the overall market conditions or fellow IEO users not due private sale investors or team sell-offs.

Q48:

Can you introduce some information abouts KAVA Deflationary Fee Structure? With the burning mechanism, does it mean KAVA will never reach its max supply?

  • Answer: When loans are repaid, users pay a fee in Kava. This is burned. However, Kava does not have a max supply. It has a starting supply of 100M. It inflates for block rewards 3-20% APR AND it inflates when the system is at risk of under collateralization. At this time, more Kava is minted and used to purchase USDX off the market until it reaches full collateralization again.
  • TLDR: If things go well, and governance is good, Kava deflates and hopefully appreciates in value. If things go wrong, Kava holders get inflated.

Q49:

In your opinion what are advantage of decentralized finance over centralized?

  • Answer: One of the main advantages is not needing to pay the costs of regulation and compliance. Open financial software that is usable by anyone removes middle men fees and reduces the barrier for new entrants to enter and make new products. Also DeFI has an edge in terms of onboarding - to get a bank account or an exchange account you need to do lots of KYC and give private info. That takes time and is troublesome. With DeFi you just load up your funds and transact. Very fast user flows.

Q50:

Plan, KAVA how to raise capital? Kava is being supported by more than 100 business entities around the world, including major cryptocurrency investment funds like Ripple and Cosmos, so what did kava do to convince investors to join the project?

  • Answer: We have been doing crypto research and development for years. Ripple and Cosmos were partners before we even started this blockchain with Kava Labs. When we announced Kava the DeFi platform they knew us already to do good work and they liked the idea so they support us.
submitted by Kava_Mod to KavaUSDX [link] [comments]

Weekly Update: $WIB, $VID, $CHZ on ParJar, Pynk crushes Web Summit, XIO swap bridge, Sentivate reorg... – 1 Nov - 7 Nov'19

Weekly Update: $WIB, $VID, $CHZ on ParJar, Pynk crushes Web Summit, XIO swap bridge, Sentivate reorg... – 1 Nov - 7 Nov'19
Hi folks! We are catching up real quick. Here’s your week at Parachute + partners (1 Nov - 7 Nov'19):

Three new projects and their awesome communities joined the Parachute fam this week: Wibson, VideoCoin and Chiliz. Welcome! And if you missed, we also added Shuffle Monster, Harmony and CyberFM last week. #cryptoforeveryone is getting bigger by the day. Woot woot! In this week’s TTR trivias, we had Richi’s movie quiz qith a 25k $PAR pot. Charlotte's Rebus trivia in TTR on Tuesday had 25k $PAR in prizes for 10 Qs. Noice! Jason’s creative contest for this week was #artdeadmin: “draw/paint/sketch/whatever you imagine a group of the parachute admins doing together”. Click here to check out some of the entries of the TTR Halloween photo contest from last week. Doc Victor (from Cuba) hosted a Champions League wager round in tip room. And congrats to Victor (Anox) for passing his final Medical exams. We have 2 Doc Vics now. One from Cuba and the other from *redacted*.
Some of the top #artdeadmin submissions. Insane talent!
Jason’s running medal collection. Say what!
Andy shared the latest standings in the Parachute Fantasy Football League (#PFFL). Clinton (7-2) is on top followed by Chris (7-2) in second place and Hang (7-2) in third place. So close! As we rolled into November, Parachute crew signed up for Movember. So now we have 3 teams from the Parachute fold, doing a no-shave November for men’s health issues: Parachute (Tony, Cap, Alexis, Cuban Doc Vic, Richi), TTR (Vali, Ashok, Tavo, Alejandro, Marcos, PeaceLove) and TTR-Ladies (Mery, Martha, AngellyC, Liem, Durby, LeidyElena, Charlotte). Show them some support peeps! This is all for charity. Show them some support folks! This week’s #wholesomewed was about “your most precious possession and give us the story of why it is so precious to you”. A whole lot of $PAR was given out for some real wholesome life stories. Best. Community. Eva! Two-for-Tuesday theme for this week: colors! As always, a melodic Tuesday thanks to Gian! And thank you Borna for writing about Parachute and ParJar on the Blockchain Andy blog.
<- This is where Jose creates his magic. Respect / Cuban Doc Vic’s doggo, Symba, could easily be a TTR mascot. Good boi! ->
This week at aXpire there were two separate $AXPR burns: 20k of last week and 200k of this week. Last week’s news recap can be seen here. Congratulations to the team for being conferred the honour of being handed a key to Miami-Dade County by Mayor Carlos A. Gimenez at the 2019 Miami-Dade Beacon Council Annual Meeting & Key Ceremony. aXpire's disruptive solutions like Resolvr (expense allocation), Bilr (invoice management) and DigitalShares (deal marketplace) help hedge funds and PE firms scale through better profit margins. How? Read here. Did you know that the 2gether Ambassador Zone lets you customise referral messages with a #PicOfTheDay while you earn some sweet 2GT rewards? Super cool! There was an upgrade to the platform this week that might have led to a temporary deactivation in withdrawals while the update was being deployed. CEO Ramón Ferraz’s interview by BeInCrypto was released. Founder Salvador Algarra travelled to an ABANCA event for a keynote speech on Fintech innovation. Next week he will be at Rankia's Blockchain and Crypto Tech gathering to speak on "Blockchain, from predicting the future to building it". CardRates’ feature article on 2gether came out this week. The BOMBX:XIO token swap bridge went live. The swap will be open till 15th December. Plus, $XIO is now listed on DDEX and Switcheo. There were some disruptions in the bridge from time to time because of heavy traffic. Hence, the team also set up a manual swap page as an alternative solution. And please be wary of scammers posing as admins to help with the swap instructions. For any doubts, always reach out to accounts with admin tags on the official Telegram channel. The first set of incubated startups will be revealed on the 22nd of November. Ever wanted to find out about the people who frequent the BOMB token chat? Well, the BOMB Board is running a "Humans of Bomb" series to feature some of the most active members. This week, say Hello to Gustavo.
Key to Miami-Dade County awarded to aXpire. Cool!
WednesdayCoin’s founder Mike floated the idea of making WednesdayClub open on all days. The nature of the $WED token will not change on chain. Just that it will be usable inside the DApp everyday. What do you think? Let him know in the Reddit thread. Birdchain’s $BIRD token was listed on Mercatox this week. A new monthly referral contest was launched as well. 50k BIRD tokens to be won. Nice! Want the SMS feature to be released in your country? Start promoting! A featured article on Chainleak capped off the week perfectly for Birdchain. $ETHOS, $AXPR (aXpire), $HYDRO, $BNTY (Bounty0x) and $HST (Horizon State) were added to the eToro Wallet. The airdrops for Switch’s various token holders were distributed this week. As mentioned earlier as well, $ESH and $SDEX are revenue sharing tokens. Winners of the John McAfee contest and trading competition were announced. Congratulations! Tron blockchain support will be added to the Switch-based McAfeeDex next week. The news was covered by Beincrypto, U Today, Crypto Crunch, Altcoin Buzz and Tron’s Justin Sun as well. The Dex was featured in a Forbes article about John McAfee’s views on Libra. The latest community contest at Fantom involves writing educational articles on the platform. If you have been following Fantom developments, then this would be a breeze. Also, USD 100 in FTM tokens to be won. Sweet! Check out the cool $FTM merch on display at Odd Gems fashion. Even though these are not official gear, they have the blessings from the project. CMO Michael Chen sat down for an interview with Crypto Intelligence India to talk about the upcoming mainnet launch. The crew also appeared for an AMA with Atomic Wallet community. The latest technical update covers "Golang implementation of Lachesis consensus" or Go-Lachesis in short. Check out its demo with 7 nodes here.
Parachute presentation (WIP). That’s right. 500k transactions and counting. Wow!
While the Uptrennd Halloween contest got over last week, AltcoinBuzz made a friggin amazing graphic! Don’t forget to follow the Ann channel to stay up to date with the latest from Uptrennd. Founder Jeff Kirdeikis also announced that he will be working closely with PrefLogic on Security Tokens. Jeff’s interview with MakerDAO Biz Dev Gustav Arentoft came out. After some upgrades on Uptrennd, withdrawals are live again. Instead of the weekly meme contest, there was a flyer contest this week. 5k $1UP prize pool for winners. Wicked! The latest community picked TA report was on ETH. And the crew reached Malta for the AIBC Summit. More pics next week! Did you know that you can get Opacity Gift Codes for various plans at ShopOpacity.com? If not, make sure to read up on the Opacity October update. Catch up on the latest at District0x from the District weekly. The District Registry was live demo’ed. Looks cool! Hydro crew travelled to the Web Summit in Lisbon to spread word on the project. They were also represented at the Chicago fintech science fair this week. For a summary of the last few weeks gone by at Hydrogen, you can read the Project update and Hydro Labs update. We have covered most of these in previous posts. For the latest scoop on Hydro Labs, there’s always the Ann channel. Silent Notary’s Ubikiri wallet is undergoing upgrades. One of which is, wallets will be auto-named after creation. A ton more upgrades to be released. Sentivate announced a reorganisation in the company in order to devote full focus on Sentivate. The parent company will close and all resources will move to Sentivate. Here’s another use-case story to emphasise the potential of Universal Web. In the latest community vote on Blockfolio, folks voted overwhelmingly Yes on whether they would like to see more explainer articles on web tech. Also, the epic shoutout from Scott Melker (The Wolf Of All Streets) has to be the best thing ever!
Updated Sentivate roadmap for next 3 months
Pynk travelled to the Web Summit in Lisbon (wonder if they crossed paths with Hydro and SelfKey teams) as an official delegate of the Mayor's International Business Programme and were featured by KPMG. How to catch people’s eyes in a Summit where everyone is trying to grab your attention? With LED back packs. Genius! Such a lit idea, that even Web Summit tweeted it. Woohoo! And then they rocked a series of pitches to get to the big stage. Wins in Round 1 and quarter finals ensured an entry into the semi finals on the main stage. Click here to watch their presentation. Great job guys! Business Insider Poland included Pynk in their list of 12 Fintech companies worth following. The latest Pynk Tank episode delves into deep fakes in political advertising. One of the upcoming features on the platform will be the addition of gold to the daily price prediction tool. Pynk has "absolutely no interest in Bitcoin fanatics, ‘bagholders’ or ANYONE who mentions moons or Lamborghini’s. It’s tacky". This vibes perfectly with Parachute. Read more on Pynk's guide to becoming a super-predictor here. Horizon State announced that it will be resuming business under a new management. Welcome back! The original $HST token will not be supported anymore. The team will be looking into how the token holders are included in the new system. DENGfans, don’t forget to check the mini-projects posted by Mathew in the Telegram channel. Look up #getDENG in the channel. If you’re proficient in excel and VB, get in touch. Shuffle Monster’s $SHUF token is now listed on Dex.ag which acts as a decentralised price aggregator. CyberFM distributed the $CYFM payouts for October this week. Total payout as of 1st Nov is USD 266k+ in crypto. Say what!
Pynk’s LED back packs are a stroke of genius
OST’s Pepo was the 19th most popular dApp on State of the DApps last week. This week it climbed to the 16th position. Upcoming features on Pepo include video replies, threads and debates. Stay tuned! OST crew was at the Web3 UX Unconference in Toronto to talk all things UX. Next week they will be at ETHWaterloo to present and judge the UX award there. SelfKey’s $KEY token got listed on Hong Kong’s Lukki exchange. Like Hydro, the SelfKey team also attended the Web Summit in Lisbon for networking. If you were there, hope you said Hi. Ever wondered how Distributed Identity keeps your information private and safe when blockchains are supposed to be public? Click here to find out how SelfKey does this. More insight was shared into the Chainlink partnership this week by Constellation CEO Ben Jorgensen. The team attended the Air Force Space Pitch Day where it was selected to pitch the platform to attendees. Go get’em! How and why does Constellation do things? Check out the Constellation Principles. The October update for Yazom covers news such as alpha build of the app nearing completion, ongoing deal negotiation with clients etc.

And with that, we close for this week in Parachuteverse. See you again soon. Ciao!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

I literally have tens of thousands of dollars in top-shelf hardware, looking to repurpose some before selling on eBay to build a NAS system, possibly a dedicated firewall device as well. o_O

Q1) What will you be doing with this PC? Be as specific as possible, and include specific games or programs you will be using.**

A1) This will be a dedicated NAS system for my home network. As such, I'm looking to have it:

- Host ##TB's of 720, 1080 & up resolution Movies and TV Shows I'm about to begin ripping from a MASSIVE DVD & Blueray collection I have.

- My kids are big on Minecraft. I understand it's possible to host your own "worlds" (or whatever they call the maps you can build) on your own "server". I think it would be pretty neat to offer them (& their friends - if can be done 'safely/securely') their own partition on one of my NAS HDD's.

- I also have accounts with a couple diff VPN companies... I understand it's possible (?) to sync said VPN's with a NAS, this might be a more relative topic on the next point/purpose...

- I'd like to be able to remotely link to this NAS for when I travel overseas and want to stream at my temp location from my house/this NAS.
______________________
Q2) What is your maximum budget before rebates/shipping/taxes?**

* A2) Here's where I make matters more complicated than most others would... I've been an advocate for Bitcoin and crypto-currencies in general since 2013. I invested in a small mining outfit back in 2014 (strictly Bitcoin/ASIC's). One of my buddies is the President of a large-scale mining operation (foreign and domestic) and he convinced me to dabble in the GPU mining-space. I made my first hardware purchase in Q4, 2017 and launched a small-scale GPU-Farm in my house since then. I had the rigs mining up until Q3 of 2018 (not cost-efficient to keep on, especially living in SoFlo) and since then, the hardware's been collecting dust (& pissing off my family members since they lost access to 3X rooms in the house - I won't let anyone go near my gear). One of my New Years Resolutions for 2019 was to clear out the house of all my mining equipment so that's all about to go up on eBay. So "budget" is relative to whatever I "MUST" spend if I can't repurpose any of the parts I already have on hand for this build... (Anyone having something I "need" and is looking to barter for one of the items I'll list later on in here, LMK).
______________________
Q3) When do you plan on building/buying the PC? Note: beyond a week or two from today means any build you receive will be out of date when you want to buy.**

A3) IMMEDIATELY! :)
______________________
Q4) What, exactly, do you need included in the budget? (ToweOS/monitokeyboard/mouse/etc\)**

A4) Well I had a half-assed idea approximately 1 year ago that it might be wise to build a bunch of 'gaming rigs' to sell on eBay with my intended repurposed mining hardware so I went on a shopping spree for like 6 months. That said; I've got a plethora of various other components that aren't even unboxed yet. 90% of the items I've purchased for this additional project were items that were marked down via MIR (mail-in-rebates) & what-not...
AFAIK, there are only 3X items I absolutely do not have which I 'MUST' find. Those would be - 1) Motherboard which accepts "ECC RAM". 2) CPU for said MOBO. 3) Said "ECC RAM".\* 
______________________
Q5) Which country (and state/province) will you be purchasing the parts in? If you're in US, do you have access to a Microcenter location?**

A5) I'm located in Southwest Florida. No Microcenter's here. Best Buy is pretty much my only option although I am a member of Newegg, Amazon & Costco if that makes any difference?
______________________
Q6) If reusing any parts (including monitor(s)/keyboard/mouse/etc), what parts will you be reusing? Brands and models are appreciated.**

A6) In an attempt to better clean up this Q&A, I'm going to list the items I have on-hand at the end of this questionnaire in-case passers-by feel like this might be a TLDR.* (Scroll to the bottom & you'll see what I mean).
______________________
Q7) Will you be overclocking? If yes, are you interested in overclocking right away, or down the line? CPU and/or GPU?**

A7) I don't think that's necessary for my intended purpose although - I'm not against it if that helps & FWIW, I'm pretty skilled @ this task already (it's not rocket science).
______________________
Q8) Are there any specific features or items you want/need in the build? (ex: SSD, large amount of storage or a RAID setup, CUDA or OpenCL support, etc)**

A8) As stated in A4; ECC RAM is non-negotiable... RAID seems like a logical application here as well.

- This will predominantly be receiving commands from MacOS computers. I don't think that matters really but figured it couldn't hurt to let you guys know.\*

- I'd also be quite fond of implementing "PFSENSE" (or something of that caliber) applied to this system so I could give my Netgear Nighthawks less stress in that arena, plus my limited understanding of PFSENSE is that it's ability to act as a firewall runs circles around anything that comes with consumer-grade Wi-Fi routers (like my Nighthawks). Just the same, I'm open to building a second rig just for the firewall.\*

- Another desirable feature would be that it draws as little electricity from the wall as possible. (I'm EXTREMELY skilled in this arena. I have "Kill-A-Watts" to test/gauge on, as well as an intimate understanding of the differences between Silver, Gold, Platinum and Titanium rated PSU's. As well as having already measured each of the PSU's I have on-hand and taken note of the 'target TDP draw' ("Peak Power Efficiency Draw") each one offers when primed with X amount of GPU's when I used them for their original purpose.\*

- Last, but not least, sound (as in noise created from the rig). I'd like to prop this device up on my entertainment center in the living room. I've (almost) all of the top-shelf consumer grade products one could dream of regarding fans and other thermal-related artifacts.

- Almost forgot; this will be hosting to devices on the KODI platform (unless you guys have better alternative suggestions?)
______________________
Q9) Do you have any specific case preferences (Size like ITX/microATX/mid-towefull-tower, styles, colors, window or not, LED lighting, etc), or a particular color theme preference for the components?**

A9) Definitely! Desired theme would be WHITE. If that doesn't work for whatever reason, black or gray would suffice. Regarding "Case Size". Nah, that's not too important although I don't foresee a mini-ITX build making sense if I'm going to be cramming double digit amounts of TB in the system, Internal HDD's sounds better than a bunch of externals plugged in all the USB ports.
______________________
Q10) Do you need a copy of Windows included in the budget? If you do need one included, do you have a preference?**

A10) I don't know. If I do need a copy of Windows, I don't have one so that's something I'll have to consider I guess. I doubt that's a necessity though.
______________________
______________________
______________________
**Extra info or particulars:*\*

AND NOW TO THE FUN-STUFF... Here's a list of everything (PARTS PARTS PARTS) I have on-hand and ready to deploy into the wild &/or negotiate a trade/barter with:

CASES -
Corsair Carbide Series Air 540 Arctic White (Model# Crypto-Currency-9011048-WW) - (Probably my top pick for this build).
Cooler Master HAF XB EVO (This is probably my top 1st or 2nd pick for this build, the thing is a monster!).
Cooler Master Elite 130 - Mini ITX - Black
Cooler Master MasterBox 5 MID-Tower - Black & White
Raidmax Sigma-TWS - ATX - White
MasterBox Lite 5 - ATX - Black w/ diff. Colored accent attachments (included with purchase)
NZXT S340 Elite Matte White Steel/Tempered Glass Edition
EVGA DG-76 Alpine White - Mid Tower w/ window
EVGA DG-73 Black - Mid Tower w/ window (I have like 3 of these)

______________________
CPU's -
***7TH GEN OR BELOW INTEL's ("Code Name Class mentioned next to each one)**\*
Pentium G4400 (Skylake @54W TDP) - Intel ARK states is "ECC CAPABLE"
Celeron G3930 (Kaby Lake @ 51W TDP) - Intel ARK states is "ECC CAPABLE" :)
i5 6402P (Skylake @65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(
i5 6600k (Skylake @ 91W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(
i7 6700 (Skylake @ 65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(
i7 7700k (Kaby Lake @ 95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(


***8TH GEN INTEL's **\*
i3-8350K (Coffee Lake @91W TDP) - Intel ARK states is "ECC FRIENDLY" :)
I5-8600K (Coffee Lake @95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(


***AMD RYZEN's **\*
Ryzen 3 2200G
Ryzen 5 1600
Ryzen 7 1700X

______________________
MOTHERBOARDS -

***7TH GEN AND BELOW INTEL BASED MOBO'S - **\*
MSI Z170A-SLI
ASUS PRIME Z270-A
ASUS PRIME Z270-P
ASUS PRIME Z270-K
EVGA Z270 Stinger
GIGABYTE GA-Z270XP-SLI
MSI B150M ARCTIC
MSI B250M MICRO ATX (PRO OPT. BOOST EDITION)

***8TH GEN INTEL BASED MOBO'S - **\*
EVGA Z370 FTW
GIGABYTE Z370XP SLI (Rev. 1.0)
MSI Z370 SLI PLUS


***AMD RYZEN BASED MOBO'S - **\*
ASUS ROG STRIX B350-F GAMING
MSI B350 TOMAHAWK
MSI X370 GAMING PRO
ASROCK AB350M PRO4
______________________


RAM -

Way too many to list, nothing but 4 & 8GB DDR4 sticks and unfortunately, none are ECC so it's not even worth mentioning/listing these unless someone reading this is willing to barter. At which time I'd be obliged to send an itemized list or see if I have what they're/you're specifically looking for.\*
______________________
THERMAL APPLICATIONS/FANS -
JUST FANS -
BeQuiet -
Pure Wings 2 (80mm)
Pure Wings 2 (120mm)
Pure Wings 2 (140mm)
Silent Wings 3 PWM (120mm)

NOCTUA -
PoopBrown - NF-A20 PWM (200mm) Specifically for the BIG "CoolerMaster HAF XB EVO" Case
GREY - NF-P12 Redux - 1700RPM (120mm) PWM
Corsair -
Air Series AF120LED (120mm)

CPU COOLING SYSTEMS -
NOCTUA -
NT-HH 1.4ml Thermal Compound
NH-D15 6 Heatpipe system (this thing is the tits)

EVGA (Extremely crappy coding in the software here, I'm like 99.99% these will be problematic if I were to try and use in any OS outside of Windows, because they barely ever work in the intended Windows as it is).
CLC 240 (240mm Water-cooled system
CRYORIG -
Cryorig C7 Cu (Low-Profile Copper Edition*)

A few other oversized CPU cooling systems I forget off the top of my head but a CPU cooler is a CPU cooler after comparing to the previous 3 models I mentioned.
I almost exclusively am using these amazing "Innovation Cooling Graphite Thermal Pads" as an alternative to thermal paste for my CPU's. They're not cheap but they literally last forever.

NZXT - Sentry Mesh Fan Controller
______________________
POWER SUPPLIES (PSU's) -
BeQuiet 550W Straight Power 11 (GOLD)

EVGA -
750P2 (750W, Platinum)
850P2 (850W, Platinum)
750T2 (750W, TITANIUM - yeah baby, yeah)

ROSEWILL -
Quark 750W Platinum
Quark 650W Platinum

SEASONIC -
Focus 750W Platinum
______________________
STORAGE -
HGST Ultrastar 3TB - 64mb Cache - 7200RPM Sata III (3.5)
4X Samsung 860 EVO 500GB SSD's
2X Team Group L5 LITE 3D 2.5" SSD's 480GB
2X WD 10TB Essential EXT (I'm cool with shucking)
+ 6X various other external HDD's (from 4-8TB) - (Seagate, WD & G-Drives)
______________________

Other accessories worth mentioning -
PCI-E to 4X USB hub-adapter (I have a dozen or so of these - might not be sufficient enough &/or needed but again, 'worth mentioning' in case I somehow ever run out of SATA & USB ports and have extra external USB HDD's. Although, I'm sure there would be better suited components if I get to that point that probably won't cost all that much).
______________________
______________________
______________________
Needless to say, I have at least 1X of everything mentioned above. In most all cases, I have multiples of these items but obviously won't be needing 2X CPU's, Cases, etc...

Naturally, I have GPU's. Specifically;

At least 1X of every. Single. NVIDIA GTX 1070 TI (Yes, I have every variation of the 1070 ti made by MSI, EVGA and Zotac. The only brand I don't have is the Gigabyte line. My partners have terrible experience with those so I didn't even bother. I'm clearly not going to be needing a GPU for this build but again, I'm cool with discussing the idea of a barter if anyone reading this is in the market for one.

I also have some GTX 1080 TI's but those are already spoken for, sorry.

It's my understanding that select CPU's I have on this list are ECC Friendly and AFAIK, only 1 of my MOBO's claims to be ECC Friendly (The ASROCK AB350M PRO4), but for the life of me, I can't find any corresponding forums that confirm this and/or direct me to a listing where I can buy compatible RAM. Just the same, if I go w/ the ASROCK MOBO, that means I'd be using one of the Ryzens. Those are DEF. power hungry little buggers. Not a deal-breaker, just hoping to find something a little more conservative in terms of TDP.


In closing, I don't really need someone to hold my hand with the build part as much as figuring out which motherboard, CPU and RAM to get. Then I'm DEFINITELY going to need some guidance on what OS is best for my desired purpose. If building 2X Rigs makes sense, I'm totally open to that as well...
Rig 1 = EPIC NAS SYSTEM
Rig 2 = EPIC PFSENSE (or the like) DEDICATED FIREWALL

Oh, I almost forgot... The current routers I'm using are...
1X Netgear Nighthawk 6900P (Modem + Router)
1X Netgear Nighthawk X6S (AC 4000 I believe - Router dedicated towards my personal devices - no IoT &/or Guests allowed on this one)
1X TP-Link Archer C5 (Router). Total overkill after implementing the Nighthawks but this old beast somehow has the best range, plus it has 2X USB ports so for now, it's dedicated towards my IoT devices.
---- I also have a few other Wi-Fi routers (Apple Airport Extreme & some inferior Netgear's but I can only allocate so many WiFi Routers to so many WiFi channels w/out pissing off my neighbors) On that note, I have managed to convince my neighbors to let me in their house/WiFi configuration so we all have our hardware locked on specific, non-competing frequencies/channels so everyone's happy. :)


Please spare me the insults as I insulted myself throughout this entire venture. Part of why I did this was because when I was a kid, I used to fantasize about building a 'DREAM PC' but could never afford such. To compensate for this deficiency, I would actually print out the latest and greatest hardware components on a word document, print the lists up & tape to wall (for motivation). I was C++ certified at the age of 14 and built my first PC when I was 7. At the age of 15 I abandoned all hope in the sector and moved on to other aspirations. This entire ordeal was largely based off me finally fulfilling a childhood fantasy. On that note = mission accomplished. Now if I'm actually able to fulfill my desires on this post, I'm definitely going to feel less shitty about blowing so much money on all this stuff over the last couple years.

TIA for assisting in any way possible. Gotta love the internets!


THE END.
:)

EDIT/UPDATE (5 hours after OP) - My inbox is being inundated with various people asking for prices and other reasonable questions about my hardware being up for sale. Not to be redundant but rather to expound on my previous remarks about 'being interested in a bartetrade' with any of you here...

I did say I was going to sell my gear on eBay in the near future, I also said I wanted to trade/barter for anything relative to helping me accomplish my OP's mission(s). I'm not desperate for the $$$ but I'm also not one of those people that likes to rip other people off. That said; I value my time and money invested in this hardware and I'm only willing to unload it all once I've established I have ZERO need for any of it here in my home first. Hence my writing this lengthy thread in an attempt to repurpose at least a grand or two I've already spent.

One of the most commonly asked questions I anticipate receiving from interested bodies is going to be "How hard were you on your hardware?" Contrary to what anyone else would have probably done in my scenario which is say they were light on it whether they were or weren't, I documented my handling of the hardware, and have no problem sharing such documentation with verified, interested buyers (WHEN THE TIME COMES) to offer you guys peace of mind.

I have photo's and video's of the venture from A-Z. I am also obliged to provide (redacted) electricity bill statements where you can correlate my photo's (power draw on each rig), and also accurately deduct the excess power my house consumed with our other household appliances. Even taking into consideration how much (more) I spent in electricity from keeping my house at a constant, cool 70-72F year-round (via my Nest thermostat). Even without the rigs, I keep my AC @ 70 when I'm home and for the last 1.5-2 years, I just so happened to spend 85% of my time here at my house. When I would travel, I'd keep it at 72 for my wife & kids.
Additionally; I had each GPU 'custom' oveunderclocke'd (MSI Afterburner for all GPU's but the EVGA's).*
I doubt everyone reading this is aware so this is for those that don't.... EVGA had the brilliant idea of implementing what they call "ICX technology" in their latest NVIDIA GTX GPU's. The short(est) explanation of this "feature" goes as follows:

EVGA GPU's w/ "ICX 9 & above" have EXTRA HEAT/THERMAL SENSORS. Unlike every other GTX 1070 ti on the market, the one's with this feature actually have each of 2/2 on-board fans connected to individual thermal sensors. Which means - if you were to use the MSI Afterburner program on one of these EVGA's and create a custom fan curve for it, you'd only be able to get 1/2 of the fans to function the way intended. The other fan simply would not engage as the MSI Afterburner software wasn't designed/coded to recognize/ communicate with an added sensor (let alone sensor'S). This, in-turn, would likely result in whoever's using it the unintended way having a GPU defect on them within the first few months I'd imagine... Perhaps if they had the TDP power settings dumbed down as much as I did (60-63%), they might get a year or two out of it since it wouldn't run as near as hot, but I doubt any longer than that since cutting off 50% of the cooling system on one of these can't be ignored too long, surely capacitors would start to blow and who knows what else...
(Warning = RANT) Another interesting side-note about the EVGA's and their "Precision-X" OveUnderclocking software is that it's designed to only recognize 4X GPU's on a single system. For miners, that's just not cool. My favorite builds had 8X and for the motherboards that weren't capable of maintaining stable sessions on 8, I set up with 6X. Only my EVGA Rigs had 3 or 4X GPU's dedicated to a single motherboard. Furthermore, and as stated in an earlier paragraph, (& this is just my opinion) = EVGA SOFTWARE SUCKS! Precision X wasn't friendly with every motherboard/CPU I threw at it and their extension software for the CLC Close-Loop-Cooling/ CPU water-coolers simply didn't work on anything, even integrating into their own Precision-X software. The amount of time it took me to finally find compatible matches with that stuff was beyond maddening. (END RANT).
Which leads me to my other comments on the matter. That's what I had every single 1070 ti set at for TDP = 60-63%. Dropping the power load that much allowed me to bring down (on average) each 1070 ti to a constant 110-115W (mind you, this is only possible w/ "Titanium" rated PSU's, Platinum comes pretty damn close to the Titanium though) while mining Ethereum and was still able to maintain a bottom of 30 MH/s and a ceiling of 32 MH/s. Increasing the TDP to 80, 90, 100% or more only increased my hashrates (yields) negligibly, like 35-36 MH/s TOPS, which also meant each one was not only pulling 160-180W+ (Vs. the aforementioned 115'ish range), it also meant my rigs were creating a significantly greater amount of heat! Fortunately for the GPU's and my own personal habits, I live in South Florida where it's hot as balls typically, last winter was nothing like this one. Increasing my yields by 10-15% didn't justify increasing the heat production in my house by >30%, nor the added electricity costs from subjecting my AC handlers to that much of an extra work-load. For anyone reading this that doesn't know/understand what I'm talking about - after spending no less than 2-3 hours with each. and. every. one. I didn't play with the settings on just one and universally apply the settings to the rest. I found the 'prime' settings and documented them with a label-maker and notepad. Here's the math in a more transparent manner:

*** I NEVER LET MY GPU's BREACH 61C, EVER. Only my 8X GPU rigs saw 60-61 & it was the ones I had in the center of the build (naturally). I have REALLY high power fans (used on BTC ASIC MINERS) that were sucking air from those GPU's which was the only way I was able to obtain such stellar results while mining with them. **\*
Mining at "acceptable" heat temps (not acceptable to me, but most of the internet would disagree = 70C) and overclocking accordingly brings in X amount of yields per unit. =
'Tweaking' (underclocking) the GPU's to my parameters reduced my yield per unit from -10-15%, but it SAVED me well over 30-35% in direct electricity consumption, and an unknown amount of passive electricity consumption via creating approximately 20%+ less heat for my AC handler to combat.

I say all this extra stuff not just for anyone interested in mining with their GPU's, but really to answer (in-depth) the apparent questions you people are asking me in PM's. Something else that should help justify my claims of being so conservative should be the fact I only have/used "Platinum and Titanium" rated PSU's. Heat production, power efficiency and longevity of the hardware were ALWAYS my top priority.* . I truly thought Crypto would continue to gain and/or recover and bounce back faster than it did. If this project had maintained positive income for 12 months+, I'd have expanded one of our sites to also cater to GPU mining on a gnarly scale.

Once I have my NAS (& possibly 2nd rig for the firewall) successfully built, I'll be willing/able to entertain selling you guys some/all of the remaining hardware prior to launching on eBay. If there's something you're specifically looking for that I listed having, feel free to PM me with that/those specific item(s). Don't count on an immediate response but what you can count on is me honoring my word in offering whoever asks first right of refusal when the time comes for me to sell this stuff. Fortunately for me, PM's are time-stamped so that's how I'll gauge everyone's place in line. I hope this extra edit answers most of the questions you guys wanted to have answered and if not, sorry I guess. I'll do my best to bring light to anything I've missed out on after I realize whatever that error was/is. The only way anyone is getting first dibs on my hardware otherwise is if they either offer compelling insight into my original questions, or have something I need to trade w/.

THE END (Round#2)


submitted by Im-Ne-wHere to buildapcforme [link] [comments]

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