Bitcoin Price Chart (BTC) Coinbase

Live Token Sales & ICOs

Coinschedule lists all the important dates in cryptocurrency projects. Whether you are already involved with Bitcoin or other cryptocurrencies or just want to get into it, CoinSchedule is a resource to keep bookmarked. We lists the dates that matter: ICOs, crowdfunding, major milestones, and conferences. We take information from various sources such as each coin's official website, forums, slack chats, newsletter, and others and collate everything in an easy to digest format.
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Current bitcoin value calculation & conversion of cryptocoins

Realtime btc price prediction in usd live current bitcoin value converter best news about technical analysis exchange rate today tomorrow crypto day trading
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Current bitcoin value calculation & conversion of cryptocoins

Realtime btc price prediction in usd live current bitcoin value converter best news about technical analysis exchange rate today tomorrow crypto day trading
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Version 3.X of DFD Cryptocoin Values private portfolio tracker for bitcoin, ethereum, litecoin, monero (and unlimited other altcoin cryptocurrencies)

Version 3.X of DFD Cryptocoin Values private portfolio tracker for bitcoin, ethereum, litecoin, monero (and unlimited other altcoin cryptocurrencies) submitted by dragonfrugal to crypt0snews [link] [comments]

Bitcoin May Be a Currency But it's Definitely a Hegelian Ploy to Artficially Increase the Value of Energy, Irrespective of Geopolitics [Cryptocoin Op-Ed]

Bitcoin May Be a Currency But it's Definitely a Hegelian Ploy to Artficially Increase the Value of Energy, Irrespective of Geopolitics [Cryptocoin Op-Ed] submitted by 911bodysnatchers322 to TruthLeaks [link] [comments]

I bought a cryptocoin with Bitcoin on Binance, does the value of the cryptocoin change with the current value of Bitcoin?

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

price of #bitcoin reached the #milestone value of US$5,000 per BTC on #Friday night!! #gulfcoin #mining #patners #bitcoin #cryptocurrency #trading #coin #uk #us #dubai #india #cryptocoin

price of #bitcoin reached the #milestone value of US$5,000 per BTC on #Friday night!! #gulfcoin #mining #patners #bitcoin #cryptocurrency #trading #coin #uk #us #dubai #india #cryptocoin submitted by ImagesOfNetwork to ImagesOfuae [link] [comments]

How has Crimean secession affected the value of bitcoin on the central-Asian cryptocoin exchanges?

submitted by justgotasmartphone to Bitcoin [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

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


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

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

Major Stories In Crypto This Week

Major Stories In Crypto This Week
https://preview.redd.it/1oaizrm3yho51.jpg?width=1280&format=pjpg&auto=webp&s=e8870de366cc62eaad247a7e8ca18252cb6da19b
Waiting for ETH fees to become cheaper
From now on, every Monday we will be doing a weekly news digest where we will be discussing the biggest stories on the crypto market over the previous 7 days. Why are we doing that? It’s simple — we want to create a useful news outlet for our community members’ convenience.
So, what events marked the third week of September?
Analysts predicting a Bitcoin price rally
“The whale exchange ratio is at the lowest level of the year — the fewer whales moving to the exchanges, the fewer spills and [a] higher BTC price”, said CryptoQuant CEO Ki Young Ju on Thursday. This indicates a possible price rally soon: the less coins whales send to exchanges, the less chance there is for the price to dump, therefore, the higher the chance for a price rally. This is proven by experience: the last time this figure dropped from the current level in April 2019, Bitcoin price grew from $4000 to $13000 over a few months.
FORSAGE.io — how is this information useful to us? It’s important to remember that whenever the first cryptocoin’s price goes up, altcoins invariably follow suit. This means that if BTC shoots up in value, the possibility of TRX and ETH going up also increases, and that’s great news for the entire FORSAGE community.
Is Ethereum still going the Proof-of-Stake route?
A leading Ethereum developer, Danny Ryan published the official Ethereum Improvement Proposal EIP-2982 that implies the launch of Ethereum 2.0 and the switch to Proof-of-Stake. If his proposal gets passed, it may become implemented into the network, solving the issue of high commission fees.
FORSAGE.io — how is this information useful to us? The high commission fees on the ETH network has been slowing down the growth of the FORSAGE community for the past month, because the price of tens and even hundreds of dollars per transaction is unacceptable to most people. We are all looking forward to the day this issue is solved.
DeFi projects boom
DeFi projects are becoming more and more popular — for example, Uniswap, a decentralized exchange, saw its token rise in value by 75% after listing on world’s leading exchanges, making it on the list of top 50 highest market capitalization assets.
FORSAGE.io — how is this information useful to us? It is DeFi projects and their popularity that catalyzed the unprecedented increase in transactions on the Ethereum network, driving the price of transactions further up. After the price of gas for Ethereum transactions has been hovering above 100 Gwei for the past few weeks, on September 17th it jumped all the way to 700 Gwei. This is why we are very excited about the previous news story — the launch of Ethereum 2.0
Over 10% of all crypto payments take place in Eastern Europe
Chainalysis has published another study that shows 12% of all cryptocurrency transactions that took place from July 2019 to June 2020 happened in Eastern Europe! This means the region is the fourth biggest market in terms of transaction volume, and while it is out-grossed by the giants that are the US and China, the region is growing quickly.
FORSAGE.io — how is this information useful to us? The Eastern European region is developing, in part, driven by the increasing commitment of many countries to decentralization and economic freedom. This positively affects the local levels of crypto activity. Let’s find out where the majority of the FORSAGE community comes from! Leave a comment with your country below!
submitted by Forsage_io to ico [link] [comments]

Earn free CRYPTO today! (Additional rewards in BRAVE BROWSER)

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submitted by girthy-rmt to beermoneyph [link] [comments]

Cryptocurrencies: the Past Reinvented

Cryptocurrencies: the Past Reinvented

https://preview.redd.it/io0mkfpayel51.jpg?width=2560&format=pjpg&auto=webp&s=839666f628a9ae85fa3ef4ffb020c1c2ba598683
As the first country to industrialise in the 1760s, Britain’s manufacturing revolution set the world on one of the greatest practical and ubiquitous changes in human history. Even more extraordinary is the fact that Britain’s industrialisation remained way ahead of potential competition for decades. Only in the early 1900s did historians get to grips with the issues of causation. Max Weber’s pithy answer “the Protestant work ethic” pointed to Puritan seriousness, diligence, fiscal prudence and hard work. Others include the establishment of the Bank of England in 1694 as an essentially corollary by creating the necessary conditions for financial stability. In contrast, Continental Europe lurched from one national debt crisis to another, then through itself headlong into the Napoleonic wars. Unsurprisingly, it was not until after 1815 industrialisation took place on the European mainland where it was spearheaded by the new country of Belgium.
250 years latter with the launch of Bitcoin another revolution had begun; though this one more commercial in nature than industrial. Though the full impact has yet to be played out, the parallels between these two historical events are already striking. Bitcoin may not match the obviousness of industrialisation, but the underlying pragmatics touch on the very foundations of the non-barter economy. Like the establishment of the Bank of England, the creation of the cryptocurrency infrastructure has been prompted by ongoing and worsening threats to financial instability; systemic fault-lines created by macroeconomic challenges flowing from the 2008 crash.
For those who could “join the dots” in 2008, there was the realisation that central banks no longer existed as guardians and protectors of national currencies but the tools of creating politicised market distortions; abandoning their duty to preserve wealth in favour of creating the conditions for limitless, cheap government debt. While many of the underlying intentions were benign, inherently the process worked to punish savers and reward reckless debt.
This anticipation of on-going instability surrounding fiat currencies and the viability of crypto alternatives has proved more prescient than could have ever been previously imagined. Within a short space of time a wave of undercurrents gave rise to new vocabularies, outlooks and expectations which have impacted commercial and investment transactions, a change never more acutely observed than today, when even against the backdrop of the COVID crisis Central Banks are rushing to create their own “digital” krona, pound, dollar etc. “Digital” may represent a confusing nomenclature, however, as these are not cryptocurrencies in the true sense, and certainly not part of decentralised finance (DeFi). The digital krona does, however, manifest the increasingly powerful impact that the cryptocurrency ecosystem is having on mainstream banking and government behaviour.
As with Britain’s industrial revolution, it has taken time for the potential of cryptocoins to find more energetic traction. Over the past 12 years cryptocurrencies have moved from unknown, to novel, to significant and growing interest. As a result, profound changes are underway affecting the mechanics by which investors, the investment industry, wealth mangers and even the commercial banking sector is engaging with cryptocurrencies. This interest has quickened as we enter into a period of deep economic unknown and growing awareness that structural soundness is shifting away from traditional investment options.
Intelligent engagement requires cryptocurrency investors/wealth managers to accurately understand and correctly explicate the nature of these influences and assess their potential impact. This article suggests seven distinct elements (a non- exhaustive list) as currently ranking definitive importance:
  1. Cryptocurrencies comprise account for only a tiny fraction of the global economy. At an estimated value of $375 billion, this is several orders of magnitude smaller than a world GDP of $35 trillion (2019). Assuming other factors are favourable, there is clearly room for growth.
  2. Cryptocurrency success will mark the end of critical aspects of Central Banking monopoly; by revealing the fictitious nature of fiat currencies as a principle; by offering a more competitive vehicle for facilitating commercial transactions; and providing a more stable medium to store monetised assets. Apart from stability, cryptocurrencies offer real returns on “cash” deposits, something which the fiat banking system has long since abandoned. (The reasons for the latter are deeply significant and will be followed up in a subsequent article).
  3. Cryptocurrency success will hasten the end of the dollar monopoly in global commerce. Indeed, at current trending, changes in trading mechanics may speedily evolve to the point that such “reserve currencies” no longer have a function at all. Analysts once speculated that it was only a matter of time before the Chinese yuan displaced the dollar, in the same way that the dollar displaced the pound. The edifice which supports the concept of a “global reserve currency” is weakening. The latter’s demise will have significant implications regarding reducing political influence over global finance, as well as nations’ abilities to run longterm balance of payments deficits, current account deficits and borrow at little or no interest.
  4. Cryptocurrencies as an ecosystem—assuming the current direction of evolution continues—will increasingly constrain, redirect and set the parameters to government macroeconomic policies. Certainly sound alternatives to fiat currencies will drive the latter to the periphery of commercial life, concomitantly reducing the number of tools the nation state has at its disposal to regulate or respond to changing economic conditions. This especially means setting meaningful interest rates. Above all, it means that government financial engagement can no longer be a rule unto itself, it will have to engage by the same principles as everyone else. A level playing field here has dramatic implications—and will again be picked up in a subsequent article.
  5. Cryptocurrencies represent a wider range of disruptive elements affecting the commercial ecosystem. Among the most direct is the ability to raise finance or enter into other commercial transactions with little to no red tape, intrusive regulation or political interference. In short it de-politicises, de-institutionalises and de-centralises investment and payment options, while retaining many of the protective and other beneficial aspects present in traditional finance.
  6. Cryptocurrencies offer rapid commercial advances enfranchising the one- third of the global population who do not have a bank account—but do have a mobile phone—and concomitantly enable business that currently cannot accept electronic forms of payment to move into digital commerce. In the way that cellular communication revolutionised sub-saharan Africa in the early 2000s, so we may anticipate some parallel here as regards ease and ubiquity of payment “wallets” and their positive impact on developing economy dynamics.
  7. Cryptocurrency potential increasingly offers a route to security and liquid asset preservation/growth in a world where fundamentals are being shifted out of all recognition; driven by economic policies predicated firstly on the priority of COVID management and secondly on the move away from rules-based multilateralism towards bilateralism. Global cooperation is yielding to the demands of national integrity, security of supply and highly aggressive competition in key enabling technologies such as 5G, AI, quantum computing and encryption, which themselves will have as profound impact on cryptocurrency evolution as the creation of the bitcoin itself.
Against the backdrop of the essential limits of fiat currencies, current geo- macroeconomic policies and a new emerging world order, cryptocurrencies offer vast potential:
  • An efficiency facilitating frictionless commerce/investment.
  • A medium of stability against the backdrop of uncertainty and inflation.
  • Increased security in value transfer and wealth management.
  • Optimum autonomy in an increasing intrusive climate.
  • “Cash” asset preservation/growth in a world of negative interest rates.
In all this we may well have come full circle to 1694 and the stability and security that the establishment of the Bank of England was intended to entrench—but now it is now de-centralised finance that will get us there.
Article source: https://www.finxflo.com/news/detail/5127
submitted by JamesFXF to FXF [link] [comments]

The Privacy Coin Guide Part 1

As interest picks up in crypto again, I want to share this post I made on privacy coins again to just give the basics of their evolution. This is only part 1, and parts 2 and 3 are not available in this format, but this part is informative and basic.
If you’re looking for a quick and easy way to assess what the best privacy coin in the current space is, which has the best features, or which is most likely to give high returns, then this is not that guide. My goal is to give you the power to make your own decisions, to clearly state my biases, and educate. I really wanted to understand this niche of the crypto-space due to my background and current loyalties[1], and grasp the nuances of the features, origins and timelines of technologies used in privacy coins, while not being anything close to a developer myself. This is going to be a 3-part series, starting with an overview and basic review of the technology, then looking at its implications, and ending with why I like a specific project. It might be mildly interesting or delightfully educational. Cryptocurrencies are young and existing privacy coins are deploying technology that is a work in progress. This series assumes a basic understanding of how blockchains work, specifically as used in cryptocurrencies. If you don’t have that understanding, might I suggest that you get it? [2],[3],[4] Because cryptocurrencies have a long way to go before reaching their end-game: when the world relies on the technology without understanding it. So, shall we do a deep dive into the privacy coin space?

FIRST THERE WAS BITCOIN

Cryptocurrencies allow you to tokenize value and track its exchange between hands over time, with transaction information verified by a distributed network of users. The most famous version of a cryptocurrency in use is Bitcoin, defined as peer-to-peer electronic cash. [5] Posted anonymously in 2008, the whitepaper seemed to be in direct response to the global financial meltdown and public distrust of the conventional banking and financing systems. Although cryptographic techniques are used in Bitcoin to ensure that (i) only the owner of a specific wallet has the authority to spend funds from that wallet, (ii) the public address is linked but cannot be traced by a third party to the private address (iii) the information is stored via cryptographic hashing in a merkle tree structure to ensure data integrity, the actual transaction information is publicly visible on the blockchain and can be traced back to the individual through chain analysis.[6] This has raised fears of possible financial censorship or the metaphorical tainting of money due to its origination point, as demonstrated in the Silk Road marketplace disaster.[7] This can happen because fiat money is usually exchanged for cryptocurrency at some point, as crypto-enthusiasts are born in the real world and inevitably cash out. There are already chain analysis firms and software that are increasingly efficient at tracking transactions on the Bitcoin blockchain.[8] This lack of privacy is one of the limitations of Bitcoin that has resulted in the creation of altcoins that experiment with the different features a cryptocurrency can have. Privacy coins are figuring out how to introduce privacy in addition to the payment network. The goal is to make the cryptocurrency fungible, each unit able to be exchanged for equal value without knowledge of its transaction history – like cash, while being publicly verifiable on a decentralized network. In other words, anyone can add the math up without being able to see the full details. Some privacy solutions and protocols have popped up as a result:

CRYPTONOTE – RING SIGNATURES AND STEALTH ADDRESSES

Used in: Monero and Particl as its successor RING-CT, Bytecoin
In December 2012, CryptoNote introduced the use of ring signatures and stealth addresses (along with other notable features such as its own codebase) to improve cryptocurrency privacy.[9] An updated CryptoNote version 2 came in October 2013 [10](though there is some dispute over this timeline [11]), also authored under the name Nicolas van Saberhagen. Ring signatures hide sender information by having the sender sign a transaction using a signature that could belong to multiple users. This makes a transaction untraceable. Stealth addresses allow a receiver to give a single address which generates a different public address for funds to be received at each time funds are sent to it. That makes a transaction unlinkable. In terms of privacy, CryptoNote gave us a protocol for untraceable and unlinkable transactions. The first implementation of CryptoNote technology was Bytecoin in March 2014 (timeline disputed [12]), which spawned many children (forks) in subsequent years, a notable example being Monero, based on CryptoNote v2 in April 2014.
RING SIGNATURES and STEALTH ADDRESSES

PROS

– Provides sender and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume
-Does not hide transaction information if not combined with another protocol.

COINJOIN

Used in: Dash
Bitcoin developer Gregory Maxwell proposed a set of solutions to bring privacy to Bitcoin and cryptocurrencies, the first being CoinJoin (January 28 – Aug 22, 2013).[13],[14] CoinJoin (sometimes called CoinSwap) allows multiple users to combine their transactions into a single transaction, by receiving inputs from multiple users, and then sending their outputs to the multiple users, irrespective of who in the group the inputs came from. So, the receiver will get whatever output amount they were supposed to, but it cannot be directly traced to its origination input. Similar proposals include Coinshuffle in 2014 and Tumblebit in 2016, building on CoinJoin but not terribly popular [15],[16]. They fixed the need for a trusted third party to ‘mix’ the transactions. There are CoinJoin implementations that are being actively worked on but are not the most popular privacy solutions of today. A notable coin that uses CoinJoin technology is Dash, launched in January 2014, with masternodes in place of a trusted party.
COINJOIN

PROS

– Provides sender and receiver privacy
– Easy to implement on any cryptocurrency
– Lightweight
– Greater scalability with bulletproofs
– Mature technology

CONS

– Least anonymous privacy solution. Transaction amounts can be calculated
– Even without third-party mixer, depends on wealth centralization of masternodes

ZEROCOIN

Used in: Zcoin, PIVX
In May 2013, the Zerocoin protocol was introduced by John Hopkins University professor Matthew D. Green and his graduate students Ian Miers and Christina Garman.[17] In response to the need for use of a third party to do CoinJoin, the Zerocoin proposal allowed for a coin to be destroyed and remade in order to erase its history whenever it is spent. Zero-knowledge cryptography and zero-knowledge proofs are used to prove that the new coins for spending are being appropriately made. A zero-knowledge proof allows one party to prove to another that they know specific information, without revealing any information about it, other than the fact that they know it. Zerocoin was not accepted by the Bitcoin community as an implementation to be added to Bitcoin, so a new cryptocurrency had to be formed. Zcoin was the first cryptocurrency to implement the Zerocoin protocol in 2016. [18]
ZEROCOIN

PROS

– Provides sender and receiver privacy
– Supply can be audited
– Relatively mature technology
– Does not require a third-party

CONS

– Requires trusted setup (May not be required with Sigma protocol)
– Large proof sizes (not lightweight)
– Does not provide full privacy for transaction amounts

ZEROCASH

Used in: Zcash, Horizen, Komodo, Zclassic, Bitcoin Private
In May 2014, the current successor to the Zerocoin protocol, Zerocash, was created, also by Matthew Green and others (Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza).[19] It improved upon the Zerocoin concept by taking advantage of zero-knowledge proofs called zk-snarks (zero knowledge succinct non-interactive arguments of knowledge). Unlike Zerocoin, which hid coin origins and payment history, Zerocash was faster, with smaller transaction sizes, and hides transaction information on the sender, receiver and amount. Zcash is the first cryptocurrency to implement the Zerocash protocol in 2016. [20]
ZEROCASH

PROS

– Provides full anonymity. Sender, receiver and amount hidden.
– Privacy can be default?
– Fast due to small proof sizes.
– Payment amount can be optionally disclosed for auditing
– Does not require any third-party

CONS

– Requires trusted setup. (May be improved with zt-starks technology)
– Supply cannot be audited. And coins can potentially be forged without proper implementation.
– Private transactions computationally intensive (improved with Sapling upgrade)

CONFIDENTIAL TRANSACTIONS

Used in: Monero and Particl with Ring Signatures as RING-CT
The next proposal from Maxwell was that of confidential transactions, proposed in June 2015 as part of the Sidechain Elements project from Blockstream, where Maxwell was Chief Technical Officer.[21],[22] It proposed to hide the transaction amount and asset type (e.g. deposits, currencies, shares), so that only the sender and receiver are aware of the amount, unless they choose to make the amount public. It uses homomorphic encryption[23] to encrypt the inputs and outputs by using blinding factors and a kind of ring signature in a commitment scheme, so the amount can be ‘committed’ to, without the amount actually being known. I’m terribly sorry if you now have the urge to go and research exactly what that means. The takeaway is that the transaction amount can be hidden from outsiders while being verifiable.
CONFIDENTIAL TRANSACTIONS

PROS

– Hides transaction amounts
– Privacy can be default
– Mature technology
– Does not require any third-party

CONS

– Only provides transaction amount privacy when used alone

RING-CT

Used in: Monero, Particl
Then came Ring Confidential transactions, proposed by Shen-Noether of Monero Research Labs in October 2015.[24] RingCT combines the use of ring signatures for hiding sender information, with the use of confidential transactions (which also uses ring signatures) for hiding amounts. The proposal described a new type of ring signature, A Multi-layered Linkable Spontaneous Anonymous Group signature which “allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation”.[25] RingCT was implemented in Monero in January 2017 and made mandatory after September 2017.
RING -CONFIDENTIAL TRANSACTIONS

PROS

– Provides full anonymity. Hides transaction amounts and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume

MIMBLEWIMBLE

Used in: Grin
Mimblewimble was proposed in July 2016 by pseudonymous contributor Tom Elvis Jedusorand further developed in October 2016 by Andrew Poelstra.[26],[27] Mimblewimble is a “privacy and fungibility focused cryptocoin transaction structure proposal”.[28] The key words are transaction structure proposal, so the way the blockchain is built is different, in order to accommodate privacy and fungibility features. Mimblewimble uses the concept of Confidential transactions to keep amounts hidden, looks at private keys and transaction information to prove ownership of funds rather than using addresses, and bundles transactions together instead of listing them separately on the blockchain. It also introduces a novel method of pruning the blockchain. Grin is a cryptocurrency in development that is applying Mimblewimble. Mimblewimble is early in development and you can understand it more here [29].
MIMBLEWIMBLE

PROS

– Hides transaction amounts and receiver privacy
– Privacy is on by default
– Lightweight
– No public addresses?

CONS

– Privacy not very effective without high volume
– Sender and receiver must both be online
– Relatively new technology

ZEXE

Fresh off the minds of brilliant cryptographers (Sean Bowe, Alessandro Chiesa, Matthew Green, Ian Miers, Pratyush Mishra, Howard Wu), in October 2018 Zexe proposed a new cryptographic primitive called ‘decentralized private computation.[30] It allows users of a decentralized ledger to “execute offline computations that result in transactions”[31], but also keeps transaction amounts hidden and allows transaction validation to happen at any time regardless of computations being done online. This can have far reaching implications for privacy coins in the future. Consider cases where transactions need to be automatic and private, without both parties being present.

NETWORK PRIVACY

Privacy technologies that look at network privacy as nodes communicate with each other on the network are important considerations, rather than just looking at privacy on the blockchain itself. Anonymous layers encrypt and/or reroute data as it moves among peers, so it is not obvious who they originate from on the network. They are used to protect against surveillance or censorship from ISPs and governments. The Invisible Internet Project (I2P) is an anonymous network layer that uses end to end encryption for peers on a network to communicate with each other.[32] Its history dates back to 2003. Kovri is a Monero created implementation of I2P.[33] The Onion Router (Tor) is another anonymity layer [34]) that Verge is a privacy cryptocurrency that uses. But its historical link to the US government may be is concerning to some[35]. Dandelion transaction relay is also an upcoming Bitcoin improvement proposal (BIP) that scrambles IP data that will provide network privacy for Bitcoin as transaction and other information is transmitted.[36],[37],[38]

UPCOMING

Monero completed bulletproofs protocol updates that reduce RINGCT transaction sizes and thus transaction fee costs. (Bulletproofs are a replacement for range proofs used in confidential transactions that aid in encrypting inputs and outputs by making sure they add to zero).
Sigma Protocol – being actively researched by Zcoin team as of 2018 to replace Zerocoin protocol so that a trusted setup is not required.[39] There is a possible replacement for zk-snarks, called zk-starks, another form of zero-knowledge proof technology, that may make a trusted set-up unnecessary for zero-knowledege proof coins.[40]

PART 1 CONCLUSION OF THE PRIVACY COIN GUIDE ON THE TECHNOLOGY BEHIND PRIVACY COINS

Although Bitcoin is still a groundbreaking technology that gives us a trust-less transaction system, it has failed to live up to its expectations of privacy. Over time, new privacy technologies have arrived and are arriving with innovative and exciting solutions for Bitcoin’s lack of fungibility. It is important to note that these technologies are built on prior research and application, but we are considering their use in cryptocurrencies. Protocols are proposed based on cryptographic concepts that show how they would work, and then developers actually implement them. Please note that I did not include the possibility of improper implementation as a disadvantage, and the advantages assume that the technical development is well done. A very important point is that coins can also adapt new privacy technologies as their merits become obvious, even as they start with a specific privacy protocol. Furthermore, I am, unfortunately, positive that this is not an exhaustive overview and I am only covering publicized solutions. Next, we’ll talk more about the pros and cons and give an idea of how the coins can be compared.

There's a video version that can be watched, and you can find out how to get the second two parts if you want on my website (video link on the page): https://cryptoramble.com/guide-on-privacy-coins/
submitted by CryptoRamble to ethereum [link] [comments]

What is your personal financial strategy and vision of Gridcoin?

I started the 2020 year by totally ignoring what is a blockchain, or a cryptocoin. And once I started Qwant-ing (alt Google) it, it was a matter of a few days that I learned how to CPU and GPU mine. I even got a SHA-256 ASIC warming up my flat. Of course, the more I learned about Bitcoin and other PoW coins, the worse I was feeling about the incredible waste of energy with such useless hashes and the consequences of the greedy speculation against the "smaller" coins. So I got rid of the ASIC and while looking at the web for alternative coins using PoS or similar, I found this project, in which I really get identified. Now I'm a happy math and astronomy cruncher. It's just amazing, to be crunching and at the same time, getting rewarded.
There are plenty of things to contribute to this project, and I feel really motivated to get further involved into it. Now my question concerns the "money" side, the financial stuff. Of course Gridcoin is not Bitcoin, although it seems that Gridcoin has a long story behind. I see potential, mostly due to the very active community, the increasing interest in Distributed Computing (and thus the eventual popularity of the Proof-of-Research concept) and the "seriousness" of this project. But the perpetual inflation and the apparent lack of significant volume exchanges might underestimate its value, strictly speaking of the markets dynamics.
The growing scarcity and popularity of the mainstream coins might also be pushing this coin out of the radar of most of the people, explaining the actual stagnancy of the GRC market. And so, here is where I ask to you: what is your vision of Gridcoin? Do you (personally) bet everything for this project, in terms of investments (GRC-only wallets) and computational resources? Or do you diversify your portfolios, speculating as well in another cryptos/stocks?
I'd really like to hear from you, to know if you're interested (or not) in the money side of the project, and, for the affirmative case, to know why you're here and why you want to stay here. Thank you for your attention and your feedback!
submitted by de_fou to gridcoin [link] [comments]

The Privacy Coin Guide Part 1

As interest picks up in crypto again, I want to share this post I made on privacy coins again to just give the basics of their evolution. This is only part 1, and parts 2 and 3 are not available in this format, but this part is informative and basic.
If you’re looking for a quick and easy way to assess what the best privacy coin in the current space is, which has the best features, or which is most likely to give high returns, then this is not that guide. My goal is to give you the power to make your own decisions, to clearly state my biases, and educate. I really wanted to understand this niche of the crypto-space due to my background and current loyalties[1], and grasp the nuances of the features, origins and timelines of technologies used in privacy coins, while not being anything close to a developer myself. This is going to be a 3-part series, starting with an overview and basic review of the technology, then looking at its implications, and ending with why I like a specific project. It might be mildly interesting or delightfully educational. Cryptocurrencies are young and existing privacy coins are deploying technology that is a work in progress. This series assumes a basic understanding of how blockchains work, specifically as used in cryptocurrencies. If you don’t have that understanding, might I suggest that you get it? [2],[3],[4] Because cryptocurrencies have a long way to go before reaching their end-game: when the world relies on the technology without understanding it. So, shall we do a deep dive into the privacy coin space?

FIRST THERE WAS BITCOIN

Cryptocurrencies allow you to tokenize value and track its exchange between hands over time, with transaction information verified by a distributed network of users. The most famous version of a cryptocurrency in use is Bitcoin, defined as peer-to-peer electronic cash. [5] Posted anonymously in 2008, the whitepaper seemed to be in direct response to the global financial meltdown and public distrust of the conventional banking and financing systems. Although cryptographic techniques are used in Bitcoin to ensure that (i) only the owner of a specific wallet has the authority to spend funds from that wallet, (ii) the public address is linked but cannot be traced by a third party to the private address (iii) the information is stored via cryptographic hashing in a merkle tree structure to ensure data integrity, the actual transaction information is publicly visible on the blockchain and can be traced back to the individual through chain analysis.[6] This has raised fears of possible financial censorship or the metaphorical tainting of money due to its origination point, as demonstrated in the Silk Road marketplace disaster.[7] This can happen because fiat money is usually exchanged for cryptocurrency at some point, as crypto-enthusiasts are born in the real world and inevitably cash out. There are already chain analysis firms and software that are increasingly efficient at tracking transactions on the Bitcoin blockchain.[8] This lack of privacy is one of the limitations of Bitcoin that has resulted in the creation of altcoins that experiment with the different features a cryptocurrency can have. Privacy coins are figuring out how to introduce privacy in addition to the payment network. The goal is to make the cryptocurrency fungible, each unit able to be exchanged for equal value without knowledge of its transaction history – like cash, while being publicly verifiable on a decentralized network. In other words, anyone can add the math up without being able to see the full details. Some privacy solutions and protocols have popped up as a result:

CRYPTONOTE – RING SIGNATURES AND STEALTH ADDRESSES

Used in: Monero and Particl as its successor RING-CT, Bytecoin
In December 2012, CryptoNote introduced the use of ring signatures and stealth addresses (along with other notable features such as its own codebase) to improve cryptocurrency privacy.[9] An updated CryptoNote version 2 came in October 2013 [10](though there is some dispute over this timeline [11]), also authored under the name Nicolas van Saberhagen. Ring signatures hide sender information by having the sender sign a transaction using a signature that could belong to multiple users. This makes a transaction untraceable. Stealth addresses allow a receiver to give a single address which generates a different public address for funds to be received at each time funds are sent to it. That makes a transaction unlinkable. In terms of privacy, CryptoNote gave us a protocol for untraceable and unlinkable transactions. The first implementation of CryptoNote technology was Bytecoin in March 2014 (timeline disputed [12]), which spawned many children (forks) in subsequent years, a notable example being Monero, based on CryptoNote v2 in April 2014.
RING SIGNATURES and STEALTH ADDRESSES

PROS

– Provides sender and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume
-Does not hide transaction information if not combined with another protocol.

COINJOIN

Used in: Dash
Bitcoin developer Gregory Maxwell proposed a set of solutions to bring privacy to Bitcoin and cryptocurrencies, the first being CoinJoin (January 28 – Aug 22, 2013).[13],[14] CoinJoin (sometimes called CoinSwap) allows multiple users to combine their transactions into a single transaction, by receiving inputs from multiple users, and then sending their outputs to the multiple users, irrespective of who in the group the inputs came from. So, the receiver will get whatever output amount they were supposed to, but it cannot be directly traced to its origination input. Similar proposals include Coinshuffle in 2014 and Tumblebit in 2016, building on CoinJoin but not terribly popular [15],[16]. They fixed the need for a trusted third party to ‘mix’ the transactions. There are CoinJoin implementations that are being actively worked on but are not the most popular privacy solutions of today. A notable coin that uses CoinJoin technology is Dash, launched in January 2014, with masternodes in place of a trusted party.
COINJOIN

PROS

– Provides sender and receiver privacy
– Easy to implement on any cryptocurrency
– Lightweight
– Greater scalability with bulletproofs
– Mature technology

CONS

– Least anonymous privacy solution. Transaction amounts can be calculated
– Even without third-party mixer, depends on wealth centralization of masternodes

ZEROCOIN

Used in: Zcoin, PIVX
In May 2013, the Zerocoin protocol was introduced by John Hopkins University professor Matthew D. Green and his graduate students Ian Miers and Christina Garman.[17] In response to the need for use of a third party to do CoinJoin, the Zerocoin proposal allowed for a coin to be destroyed and remade in order to erase its history whenever it is spent. Zero-knowledge cryptography and zero-knowledge proofs are used to prove that the new coins for spending are being appropriately made. A zero-knowledge proof allows one party to prove to another that they know specific information, without revealing any information about it, other than the fact that they know it. Zerocoin was not accepted by the Bitcoin community as an implementation to be added to Bitcoin, so a new cryptocurrency had to be formed. Zcoin was the first cryptocurrency to implement the Zerocoin protocol in 2016. [18]
ZEROCOIN

PROS

– Provides sender and receiver privacy
– Supply can be audited
– Relatively mature technology
– Does not require a third-party

CONS

– Requires trusted setup (May not be required with Sigma protocol)
– Large proof sizes (not lightweight)
– Does not provide full privacy for transaction amounts

ZEROCASH

Used in: Zcash, Horizen, Komodo, Zclassic, Bitcoin Private
In May 2014, the current successor to the Zerocoin protocol, Zerocash, was created, also by Matthew Green and others (Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza).[19] It improved upon the Zerocoin concept by taking advantage of zero-knowledge proofs called zk-snarks (zero knowledge succinct non-interactive arguments of knowledge). Unlike Zerocoin, which hid coin origins and payment history, Zerocash was faster, with smaller transaction sizes, and hides transaction information on the sender, receiver and amount. Zcash is the first cryptocurrency to implement the Zerocash protocol in 2016. [20]
ZEROCASH

PROS

– Provides full anonymity. Sender, receiver and amount hidden.
– Privacy can be default?
– Fast due to small proof sizes.
– Payment amount can be optionally disclosed for auditing
– Does not require any third-party

CONS

– Requires trusted setup. (May be improved with zt-starks technology)
– Supply cannot be audited. And coins can potentially be forged without proper implementation.
– Private transactions computationally intensive (improved with Sapling upgrade)

CONFIDENTIAL TRANSACTIONS

Used in: Monero and Particl with Ring Signatures as RING-CT
The next proposal from Maxwell was that of confidential transactions, proposed in June 2015 as part of the Sidechain Elements project from Blockstream, where Maxwell was Chief Technical Officer.[21],[22] It proposed to hide the transaction amount and asset type (e.g. deposits, currencies, shares), so that only the sender and receiver are aware of the amount, unless they choose to make the amount public. It uses homomorphic encryption[23] to encrypt the inputs and outputs by using blinding factors and a kind of ring signature in a commitment scheme, so the amount can be ‘committed’ to, without the amount actually being known. I’m terribly sorry if you now have the urge to go and research exactly what that means. The takeaway is that the transaction amount can be hidden from outsiders while being verifiable.
CONFIDENTIAL TRANSACTIONS

PROS

– Hides transaction amounts
– Privacy can be default
– Mature technology
– Does not require any third-party

CONS

– Only provides transaction amount privacy when used alone

RING-CT

Used in: Monero, Particl
Then came Ring Confidential transactions, proposed by Shen-Noether of Monero Research Labs in October 2015.[24] RingCT combines the use of ring signatures for hiding sender information, with the use of confidential transactions (which also uses ring signatures) for hiding amounts. The proposal described a new type of ring signature, A Multi-layered Linkable Spontaneous Anonymous Group signature which “allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation”.[25] RingCT was implemented in Monero in January 2017 and made mandatory after September 2017.
RING -CONFIDENTIAL TRANSACTIONS

PROS

– Provides full anonymity. Hides transaction amounts and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume

MIMBLEWIMBLE

Used in: Grin
Mimblewimble was proposed in July 2016 by pseudonymous contributor Tom Elvis Jedusorand further developed in October 2016 by Andrew Poelstra.[26],[27] Mimblewimble is a “privacy and fungibility focused cryptocoin transaction structure proposal”.[28] The key words are transaction structure proposal, so the way the blockchain is built is different, in order to accommodate privacy and fungibility features. Mimblewimble uses the concept of Confidential transactions to keep amounts hidden, looks at private keys and transaction information to prove ownership of funds rather than using addresses, and bundles transactions together instead of listing them separately on the blockchain. It also introduces a novel method of pruning the blockchain. Grin is a cryptocurrency in development that is applying Mimblewimble. Mimblewimble is early in development and you can understand it more here [29].
MIMBLEWIMBLE

PROS

– Hides transaction amounts and receiver privacy
– Privacy is on by default
– Lightweight
– No public addresses?

CONS

– Privacy not very effective without high volume
– Sender and receiver must both be online
– Relatively new technology

ZEXE

Fresh off the minds of brilliant cryptographers (Sean Bowe, Alessandro Chiesa, Matthew Green, Ian Miers, Pratyush Mishra, Howard Wu), in October 2018 Zexe proposed a new cryptographic primitive called ‘decentralized private computation.[30] It allows users of a decentralized ledger to “execute offline computations that result in transactions”[31], but also keeps transaction amounts hidden and allows transaction validation to happen at any time regardless of computations being done online. This can have far reaching implications for privacy coins in the future. Consider cases where transactions need to be automatic and private, without both parties being present.

NETWORK PRIVACY

Privacy technologies that look at network privacy as nodes communicate with each other on the network are important considerations, rather than just looking at privacy on the blockchain itself. Anonymous layers encrypt and/or reroute data as it moves among peers, so it is not obvious who they originate from on the network. They are used to protect against surveillance or censorship from ISPs and governments. The Invisible Internet Project (I2P) is an anonymous network layer that uses end to end encryption for peers on a network to communicate with each other.[32] Its history dates back to 2003. Kovri is a Monero created implementation of I2P.[33] The Onion Router (Tor) is another anonymity layer [34]) that Verge is a privacy cryptocurrency that uses. But its historical link to the US government may be is concerning to some[35]. Dandelion transaction relay is also an upcoming Bitcoin improvement proposal (BIP) that scrambles IP data that will provide network privacy for Bitcoin as transaction and other information is transmitted.[36],[37],[38]

UPCOMING

Monero completed bulletproofs protocol updates that reduce RINGCT transaction sizes and thus transaction fee costs. (Bulletproofs are a replacement for range proofs used in confidential transactions that aid in encrypting inputs and outputs by making sure they add to zero).
Sigma Protocol – being actively researched by Zcoin team as of 2018 to replace Zerocoin protocol so that a trusted setup is not required.[39] There is a possible replacement for zk-snarks, called zk-starks, another form of zero-knowledge proof technology, that may make a trusted set-up unnecessary for zero-knowledege proof coins.[40]

PART 1 CONCLUSION OF THE PRIVACY COIN GUIDE ON THE TECHNOLOGY BEHIND PRIVACY COINS

Although Bitcoin is still a groundbreaking technology that gives us a trust-less transaction system, it has failed to live up to its expectations of privacy. Over time, new privacy technologies have arrived and are arriving with innovative and exciting solutions for Bitcoin’s lack of fungibility. It is important to note that these technologies are built on prior research and application, but we are considering their use in cryptocurrencies. Protocols are proposed based on cryptographic concepts that show how they would work, and then developers actually implement them. Please note that I did not include the possibility of improper implementation as a disadvantage, and the advantages assume that the technical development is well done. A very important point is that coins can also adapt new privacy technologies as their merits become obvious, even as they start with a specific privacy protocol. Furthermore, I am, unfortunately, positive that this is not an exhaustive overview and I am only covering publicized solutions. Next, we’ll talk more about the pros and cons and give an idea of how the coins can be compared.

There's a video version that can be watched, and you can find out how to get the second two parts if you want on my website (video link on the page): https://cryptoramble.com/guide-on-privacy-coins/
submitted by CryptoRamble to privacycoins [link] [comments]

The Privacy Coin Guide Part 1

As interest picks up in crypto again, I want to share this post I made on privacy coins again to just give the basics of their evolution. This is only part 1, and parts 2 and 3 are not available in this format, but this part is informative and basic.
If you’re looking for a quick and easy way to assess what the best privacy coin in the current space is, which has the best features, or which is most likely to give high returns, then this is not that guide. My goal is to give you the power to make your own decisions, to clearly state my biases, and educate. I really wanted to understand this niche of the crypto-space due to my background and current loyalties[1], and grasp the nuances of the features, origins and timelines of technologies used in privacy coins, while not being anything close to a developer myself. This is going to be a 3-part series, starting with an overview and basic review of the technology, then looking at its implications, and ending with why I like a specific project. It might be mildly interesting or delightfully educational. Cryptocurrencies are young and existing privacy coins are deploying technology that is a work in progress. This series assumes a basic understanding of how blockchains work, specifically as used in cryptocurrencies. If you don’t have that understanding, might I suggest that you get it? [2],[3],[4] Because cryptocurrencies have a long way to go before reaching their end-game: when the world relies on the technology without understanding it. So, shall we do a deep dive into the privacy coin space?

FIRST THERE WAS BITCOIN

Cryptocurrencies allow you to tokenize value and track its exchange between hands over time, with transaction information verified by a distributed network of users. The most famous version of a cryptocurrency in use is Bitcoin, defined as peer-to-peer electronic cash. [5] Posted anonymously in 2008, the whitepaper seemed to be in direct response to the global financial meltdown and public distrust of the conventional banking and financing systems. Although cryptographic techniques are used in Bitcoin to ensure that (i) only the owner of a specific wallet has the authority to spend funds from that wallet, (ii) the public address is linked but cannot be traced by a third party to the private address (iii) the information is stored via cryptographic hashing in a merkle tree structure to ensure data integrity, the actual transaction information is publicly visible on the blockchain and can be traced back to the individual through chain analysis.[6] This has raised fears of possible financial censorship or the metaphorical tainting of money due to its origination point, as demonstrated in the Silk Road marketplace disaster.[7] This can happen because fiat money is usually exchanged for cryptocurrency at some point, as crypto-enthusiasts are born in the real world and inevitably cash out. There are already chain analysis firms and software that are increasingly efficient at tracking transactions on the Bitcoin blockchain.[8] This lack of privacy is one of the limitations of Bitcoin that has resulted in the creation of altcoins that experiment with the different features a cryptocurrency can have. Privacy coins are figuring out how to introduce privacy in addition to the payment network. The goal is to make the cryptocurrency fungible, each unit able to be exchanged for equal value without knowledge of its transaction history – like cash, while being publicly verifiable on a decentralized network. In other words, anyone can add the math up without being able to see the full details. Some privacy solutions and protocols have popped up as a result:

CRYPTONOTE – RING SIGNATURES AND STEALTH ADDRESSES

Used in: Monero and Particl as its successor RING-CT, Bytecoin
In December 2012, CryptoNote introduced the use of ring signatures and stealth addresses (along with other notable features such as its own codebase) to improve cryptocurrency privacy.[9] An updated CryptoNote version 2 came in October 2013 [10](though there is some dispute over this timeline [11]), also authored under the name Nicolas van Saberhagen. Ring signatures hide sender information by having the sender sign a transaction using a signature that could belong to multiple users. This makes a transaction untraceable. Stealth addresses allow a receiver to give a single address which generates a different public address for funds to be received at each time funds are sent to it. That makes a transaction unlinkable. In terms of privacy, CryptoNote gave us a protocol for untraceable and unlinkable transactions. The first implementation of CryptoNote technology was Bytecoin in March 2014 (timeline disputed [12]), which spawned many children (forks) in subsequent years, a notable example being Monero, based on CryptoNote v2 in April 2014.
RING SIGNATURES and STEALTH ADDRESSES

PROS

– Provides sender and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume
-Does not hide transaction information if not combined with another protocol.

COINJOIN

Used in: Dash
Bitcoin developer Gregory Maxwell proposed a set of solutions to bring privacy to Bitcoin and cryptocurrencies, the first being CoinJoin (January 28 – Aug 22, 2013).[13],[14] CoinJoin (sometimes called CoinSwap) allows multiple users to combine their transactions into a single transaction, by receiving inputs from multiple users, and then sending their outputs to the multiple users, irrespective of who in the group the inputs came from. So, the receiver will get whatever output amount they were supposed to, but it cannot be directly traced to its origination input. Similar proposals include Coinshuffle in 2014 and Tumblebit in 2016, building on CoinJoin but not terribly popular [15],[16]. They fixed the need for a trusted third party to ‘mix’ the transactions. There are CoinJoin implementations that are being actively worked on but are not the most popular privacy solutions of today. A notable coin that uses CoinJoin technology is Dash, launched in January 2014, with masternodes in place of a trusted party.
COINJOIN

PROS

– Provides sender and receiver privacy
– Easy to implement on any cryptocurrency
– Lightweight
– Greater scalability with bulletproofs
– Mature technology

CONS

– Least anonymous privacy solution. Transaction amounts can be calculated
– Even without third-party mixer, depends on wealth centralization of masternodes

ZEROCOIN

Used in: Zcoin, PIVX
In May 2013, the Zerocoin protocol was introduced by John Hopkins University professor Matthew D. Green and his graduate students Ian Miers and Christina Garman.[17] In response to the need for use of a third party to do CoinJoin, the Zerocoin proposal allowed for a coin to be destroyed and remade in order to erase its history whenever it is spent. Zero-knowledge cryptography and zero-knowledge proofs are used to prove that the new coins for spending are being appropriately made. A zero-knowledge proof allows one party to prove to another that they know specific information, without revealing any information about it, other than the fact that they know it. Zerocoin was not accepted by the Bitcoin community as an implementation to be added to Bitcoin, so a new cryptocurrency had to be formed. Zcoin was the first cryptocurrency to implement the Zerocoin protocol in 2016. [18]
ZEROCOIN

PROS

– Provides sender and receiver privacy
– Supply can be audited
– Relatively mature technology
– Does not require a third-party

CONS

– Requires trusted setup (May not be required with Sigma protocol)
– Large proof sizes (not lightweight)
– Does not provide full privacy for transaction amounts

ZEROCASH

Used in: Zcash, Horizen, Komodo, Zclassic, Bitcoin Private
In May 2014, the current successor to the Zerocoin protocol, Zerocash, was created, also by Matthew Green and others (Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza).[19] It improved upon the Zerocoin concept by taking advantage of zero-knowledge proofs called zk-snarks (zero knowledge succinct non-interactive arguments of knowledge). Unlike Zerocoin, which hid coin origins and payment history, Zerocash was faster, with smaller transaction sizes, and hides transaction information on the sender, receiver and amount. Zcash is the first cryptocurrency to implement the Zerocash protocol in 2016. [20]
ZEROCASH

PROS

– Provides full anonymity. Sender, receiver and amount hidden.
– Privacy can be default?
– Fast due to small proof sizes.
– Payment amount can be optionally disclosed for auditing
– Does not require any third-party

CONS

– Requires trusted setup. (May be improved with zt-starks technology)
– Supply cannot be audited. And coins can potentially be forged without proper implementation.
– Private transactions computationally intensive (improved with Sapling upgrade)

CONFIDENTIAL TRANSACTIONS

Used in: Monero and Particl with Ring Signatures as RING-CT
The next proposal from Maxwell was that of confidential transactions, proposed in June 2015 as part of the Sidechain Elements project from Blockstream, where Maxwell was Chief Technical Officer.[21],[22] It proposed to hide the transaction amount and asset type (e.g. deposits, currencies, shares), so that only the sender and receiver are aware of the amount, unless they choose to make the amount public. It uses homomorphic encryption[23] to encrypt the inputs and outputs by using blinding factors and a kind of ring signature in a commitment scheme, so the amount can be ‘committed’ to, without the amount actually being known. I’m terribly sorry if you now have the urge to go and research exactly what that means. The takeaway is that the transaction amount can be hidden from outsiders while being verifiable.
CONFIDENTIAL TRANSACTIONS

PROS

– Hides transaction amounts
– Privacy can be default
– Mature technology
– Does not require any third-party

CONS

– Only provides transaction amount privacy when used alone

RING-CT

Used in: Monero, Particl
Then came Ring Confidential transactions, proposed by Shen-Noether of Monero Research Labs in October 2015.[24] RingCT combines the use of ring signatures for hiding sender information, with the use of confidential transactions (which also uses ring signatures) for hiding amounts. The proposal described a new type of ring signature, A Multi-layered Linkable Spontaneous Anonymous Group signature which “allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation”.[25] RingCT was implemented in Monero in January 2017 and made mandatory after September 2017.
RING -CONFIDENTIAL TRANSACTIONS

PROS

– Provides full anonymity. Hides transaction amounts and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume

MIMBLEWIMBLE

Used in: Grin
Mimblewimble was proposed in July 2016 by pseudonymous contributor Tom Elvis Jedusorand further developed in October 2016 by Andrew Poelstra.[26],[27] Mimblewimble is a “privacy and fungibility focused cryptocoin transaction structure proposal”.[28] The key words are transaction structure proposal, so the way the blockchain is built is different, in order to accommodate privacy and fungibility features. Mimblewimble uses the concept of Confidential transactions to keep amounts hidden, looks at private keys and transaction information to prove ownership of funds rather than using addresses, and bundles transactions together instead of listing them separately on the blockchain. It also introduces a novel method of pruning the blockchain. Grin is a cryptocurrency in development that is applying Mimblewimble. Mimblewimble is early in development and you can understand it more here [29].
MIMBLEWIMBLE

PROS

– Hides transaction amounts and receiver privacy
– Privacy is on by default
– Lightweight
– No public addresses?

CONS

– Privacy not very effective without high volume
– Sender and receiver must both be online
– Relatively new technology

ZEXE

Fresh off the minds of brilliant cryptographers (Sean Bowe, Alessandro Chiesa, Matthew Green, Ian Miers, Pratyush Mishra, Howard Wu), in October 2018 Zexe proposed a new cryptographic primitive called ‘decentralized private computation.[30] It allows users of a decentralized ledger to “execute offline computations that result in transactions”[31], but also keeps transaction amounts hidden and allows transaction validation to happen at any time regardless of computations being done online. This can have far reaching implications for privacy coins in the future. Consider cases where transactions need to be automatic and private, without both parties being present.

NETWORK PRIVACY

Privacy technologies that look at network privacy as nodes communicate with each other on the network are important considerations, rather than just looking at privacy on the blockchain itself. Anonymous layers encrypt and/or reroute data as it moves among peers, so it is not obvious who they originate from on the network. They are used to protect against surveillance or censorship from ISPs and governments. The Invisible Internet Project (I2P) is an anonymous network layer that uses end to end encryption for peers on a network to communicate with each other.[32] Its history dates back to 2003. Kovri is a Monero created implementation of I2P.[33] The Onion Router (Tor) is another anonymity layer [34]) that Verge is a privacy cryptocurrency that uses. But its historical link to the US government may be is concerning to some[35]. Dandelion transaction relay is also an upcoming Bitcoin improvement proposal (BIP) that scrambles IP data that will provide network privacy for Bitcoin as transaction and other information is transmitted.[36],[37],[38]

UPCOMING

Monero completed bulletproofs protocol updates that reduce RINGCT transaction sizes and thus transaction fee costs. (Bulletproofs are a replacement for range proofs used in confidential transactions that aid in encrypting inputs and outputs by making sure they add to zero).
Sigma Protocol – being actively researched by Zcoin team as of 2018 to replace Zerocoin protocol so that a trusted setup is not required.[39] There is a possible replacement for zk-snarks, called zk-starks, another form of zero-knowledge proof technology, that may make a trusted set-up unnecessary for zero-knowledege proof coins.[40]

PART 1 CONCLUSION OF THE PRIVACY COIN GUIDE ON THE TECHNOLOGY BEHIND PRIVACY COINS

Although Bitcoin is still a groundbreaking technology that gives us a trust-less transaction system, it has failed to live up to its expectations of privacy. Over time, new privacy technologies have arrived and are arriving with innovative and exciting solutions for Bitcoin’s lack of fungibility. It is important to note that these technologies are built on prior research and application, but we are considering their use in cryptocurrencies. Protocols are proposed based on cryptographic concepts that show how they would work, and then developers actually implement them. Please note that I did not include the possibility of improper implementation as a disadvantage, and the advantages assume that the technical development is well done. A very important point is that coins can also adapt new privacy technologies as their merits become obvious, even as they start with a specific privacy protocol. Furthermore, I am, unfortunately, positive that this is not an exhaustive overview and I am only covering publicized solutions. Next, we’ll talk more about the pros and cons and give an idea of how the coins can be compared.

There's a video version that can be watched, and you can find out how to get the second two parts if you want on my website (video link on the page): https://cryptoramble.com/guide-on-privacy-coins/
submitted by CryptoRamble to CryptoCurrencies [link] [comments]

The Privacy Coin Guide Part 1

As interest picks up in crypto again, I want to share this post I made on privacy coins again to just give the basics of their evolution. This is only part 1, and parts 2 and 3 are not available in this format, but this part is informative and basic.
If you’re looking for a quick and easy way to assess what the best privacy coin in the current space is, which has the best features, or which is most likely to give high returns, then this is not that guide. My goal is to give you the power to make your own decisions, to clearly state my biases, and educate. I really wanted to understand this niche of the crypto-space due to my background and current loyalties[1], and grasp the nuances of the features, origins and timelines of technologies used in privacy coins, while not being anything close to a developer myself. This is going to be a 3-part series, starting with an overview and basic review of the technology, then looking at its implications, and ending with why I like a specific project. It might be mildly interesting or delightfully educational. Cryptocurrencies are young and existing privacy coins are deploying technology that is a work in progress. This series assumes a basic understanding of how blockchains work, specifically as used in cryptocurrencies. If you don’t have that understanding, might I suggest that you get it? [2],[3],[4] Because cryptocurrencies have a long way to go before reaching their end-game: when the world relies on the technology without understanding it. So, shall we do a deep dive into the privacy coin space?

FIRST THERE WAS BITCOIN

Cryptocurrencies allow you to tokenize value and track its exchange between hands over time, with transaction information verified by a distributed network of users. The most famous version of a cryptocurrency in use is Bitcoin, defined as peer-to-peer electronic cash. [5] Posted anonymously in 2008, the whitepaper seemed to be in direct response to the global financial meltdown and public distrust of the conventional banking and financing systems. Although cryptographic techniques are used in Bitcoin to ensure that (i) only the owner of a specific wallet has the authority to spend funds from that wallet, (ii) the public address is linked but cannot be traced by a third party to the private address (iii) the information is stored via cryptographic hashing in a merkle tree structure to ensure data integrity, the actual transaction information is publicly visible on the blockchain and can be traced back to the individual through chain analysis.[6] This has raised fears of possible financial censorship or the metaphorical tainting of money due to its origination point, as demonstrated in the Silk Road marketplace disaster.[7] This can happen because fiat money is usually exchanged for cryptocurrency at some point, as crypto-enthusiasts are born in the real world and inevitably cash out. There are already chain analysis firms and software that are increasingly efficient at tracking transactions on the Bitcoin blockchain.[8] This lack of privacy is one of the limitations of Bitcoin that has resulted in the creation of altcoins that experiment with the different features a cryptocurrency can have. Privacy coins are figuring out how to introduce privacy in addition to the payment network. The goal is to make the cryptocurrency fungible, each unit able to be exchanged for equal value without knowledge of its transaction history – like cash, while being publicly verifiable on a decentralized network. In other words, anyone can add the math up without being able to see the full details. Some privacy solutions and protocols have popped up as a result:

CRYPTONOTE – RING SIGNATURES AND STEALTH ADDRESSES

Used in: Monero and Particl as its successor RING-CT, Bytecoin
In December 2012, CryptoNote introduced the use of ring signatures and stealth addresses (along with other notable features such as its own codebase) to improve cryptocurrency privacy.[9] An updated CryptoNote version 2 came in October 2013 [10](though there is some dispute over this timeline [11]), also authored under the name Nicolas van Saberhagen. Ring signatures hide sender information by having the sender sign a transaction using a signature that could belong to multiple users. This makes a transaction untraceable. Stealth addresses allow a receiver to give a single address which generates a different public address for funds to be received at each time funds are sent to it. That makes a transaction unlinkable. In terms of privacy, CryptoNote gave us a protocol for untraceable and unlinkable transactions. The first implementation of CryptoNote technology was Bytecoin in March 2014 (timeline disputed [12]), which spawned many children (forks) in subsequent years, a notable example being Monero, based on CryptoNote v2 in April 2014.
RING SIGNATURES and STEALTH ADDRESSES

PROS

– Provides sender and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume
-Does not hide transaction information if not combined with another protocol.

COINJOIN

Used in: Dash
Bitcoin developer Gregory Maxwell proposed a set of solutions to bring privacy to Bitcoin and cryptocurrencies, the first being CoinJoin (January 28 – Aug 22, 2013).[13],[14] CoinJoin (sometimes called CoinSwap) allows multiple users to combine their transactions into a single transaction, by receiving inputs from multiple users, and then sending their outputs to the multiple users, irrespective of who in the group the inputs came from. So, the receiver will get whatever output amount they were supposed to, but it cannot be directly traced to its origination input. Similar proposals include Coinshuffle in 2014 and Tumblebit in 2016, building on CoinJoin but not terribly popular [15],[16]. They fixed the need for a trusted third party to ‘mix’ the transactions. There are CoinJoin implementations that are being actively worked on but are not the most popular privacy solutions of today. A notable coin that uses CoinJoin technology is Dash, launched in January 2014, with masternodes in place of a trusted party.
COINJOIN

PROS

– Provides sender and receiver privacy
– Easy to implement on any cryptocurrency
– Lightweight
– Greater scalability with bulletproofs
– Mature technology

CONS

– Least anonymous privacy solution. Transaction amounts can be calculated
– Even without third-party mixer, depends on wealth centralization of masternodes

ZEROCOIN

Used in: Zcoin, PIVX
In May 2013, the Zerocoin protocol was introduced by John Hopkins University professor Matthew D. Green and his graduate students Ian Miers and Christina Garman.[17] In response to the need for use of a third party to do CoinJoin, the Zerocoin proposal allowed for a coin to be destroyed and remade in order to erase its history whenever it is spent. Zero-knowledge cryptography and zero-knowledge proofs are used to prove that the new coins for spending are being appropriately made. A zero-knowledge proof allows one party to prove to another that they know specific information, without revealing any information about it, other than the fact that they know it. Zerocoin was not accepted by the Bitcoin community as an implementation to be added to Bitcoin, so a new cryptocurrency had to be formed. Zcoin was the first cryptocurrency to implement the Zerocoin protocol in 2016. [18]
ZEROCOIN

PROS

– Provides sender and receiver privacy
– Supply can be audited
– Relatively mature technology
– Does not require a third-party

CONS

– Requires trusted setup (May not be required with Sigma protocol)
– Large proof sizes (not lightweight)
– Does not provide full privacy for transaction amounts

ZEROCASH

Used in: Zcash, Horizen, Komodo, Zclassic, Bitcoin Private
In May 2014, the current successor to the Zerocoin protocol, Zerocash, was created, also by Matthew Green and others (Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza).[19] It improved upon the Zerocoin concept by taking advantage of zero-knowledge proofs called zk-snarks (zero knowledge succinct non-interactive arguments of knowledge). Unlike Zerocoin, which hid coin origins and payment history, Zerocash was faster, with smaller transaction sizes, and hides transaction information on the sender, receiver and amount. Zcash is the first cryptocurrency to implement the Zerocash protocol in 2016. [20]
ZEROCASH

PROS

– Provides full anonymity. Sender, receiver and amount hidden.
– Privacy can be default?
– Fast due to small proof sizes.
– Payment amount can be optionally disclosed for auditing
– Does not require any third-party

CONS

– Requires trusted setup. (May be improved with zt-starks technology)
– Supply cannot be audited. And coins can potentially be forged without proper implementation.
– Private transactions computationally intensive (improved with Sapling upgrade)

CONFIDENTIAL TRANSACTIONS

Used in: Monero and Particl with Ring Signatures as RING-CT
The next proposal from Maxwell was that of confidential transactions, proposed in June 2015 as part of the Sidechain Elements project from Blockstream, where Maxwell was Chief Technical Officer.[21],[22] It proposed to hide the transaction amount and asset type (e.g. deposits, currencies, shares), so that only the sender and receiver are aware of the amount, unless they choose to make the amount public. It uses homomorphic encryption[23] to encrypt the inputs and outputs by using blinding factors and a kind of ring signature in a commitment scheme, so the amount can be ‘committed’ to, without the amount actually being known. I’m terribly sorry if you now have the urge to go and research exactly what that means. The takeaway is that the transaction amount can be hidden from outsiders while being verifiable.
CONFIDENTIAL TRANSACTIONS

PROS

– Hides transaction amounts
– Privacy can be default
– Mature technology
– Does not require any third-party

CONS

– Only provides transaction amount privacy when used alone

RING-CT

Used in: Monero, Particl
Then came Ring Confidential transactions, proposed by Shen-Noether of Monero Research Labs in October 2015.[24] RingCT combines the use of ring signatures for hiding sender information, with the use of confidential transactions (which also uses ring signatures) for hiding amounts. The proposal described a new type of ring signature, A Multi-layered Linkable Spontaneous Anonymous Group signature which “allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation”.[25] RingCT was implemented in Monero in January 2017 and made mandatory after September 2017.
RING -CONFIDENTIAL TRANSACTIONS

PROS

– Provides full anonymity. Hides transaction amounts and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume

MIMBLEWIMBLE

Used in: Grin
Mimblewimble was proposed in July 2016 by pseudonymous contributor Tom Elvis Jedusorand further developed in October 2016 by Andrew Poelstra.[26],[27] Mimblewimble is a “privacy and fungibility focused cryptocoin transaction structure proposal”.[28] The key words are transaction structure proposal, so the way the blockchain is built is different, in order to accommodate privacy and fungibility features. Mimblewimble uses the concept of Confidential transactions to keep amounts hidden, looks at private keys and transaction information to prove ownership of funds rather than using addresses, and bundles transactions together instead of listing them separately on the blockchain. It also introduces a novel method of pruning the blockchain. Grin is a cryptocurrency in development that is applying Mimblewimble. Mimblewimble is early in development and you can understand it more here [29].
MIMBLEWIMBLE

PROS

– Hides transaction amounts and receiver privacy
– Privacy is on by default
– Lightweight
– No public addresses?

CONS

– Privacy not very effective without high volume
– Sender and receiver must both be online
– Relatively new technology

ZEXE

Fresh off the minds of brilliant cryptographers (Sean Bowe, Alessandro Chiesa, Matthew Green, Ian Miers, Pratyush Mishra, Howard Wu), in October 2018 Zexe proposed a new cryptographic primitive called ‘decentralized private computation.[30] It allows users of a decentralized ledger to “execute offline computations that result in transactions”[31], but also keeps transaction amounts hidden and allows transaction validation to happen at any time regardless of computations being done online. This can have far reaching implications for privacy coins in the future. Consider cases where transactions need to be automatic and private, without both parties being present.

NETWORK PRIVACY

Privacy technologies that look at network privacy as nodes communicate with each other on the network are important considerations, rather than just looking at privacy on the blockchain itself. Anonymous layers encrypt and/or reroute data as it moves among peers, so it is not obvious who they originate from on the network. They are used to protect against surveillance or censorship from ISPs and governments. The Invisible Internet Project (I2P) is an anonymous network layer that uses end to end encryption for peers on a network to communicate with each other.[32] Its history dates back to 2003. Kovri is a Monero created implementation of I2P.[33] The Onion Router (Tor) is another anonymity layer [34]) that Verge is a privacy cryptocurrency that uses. But its historical link to the US government may be is concerning to some[35]. Dandelion transaction relay is also an upcoming Bitcoin improvement proposal (BIP) that scrambles IP data that will provide network privacy for Bitcoin as transaction and other information is transmitted.[36],[37],[38]

UPCOMING

Monero completed bulletproofs protocol updates that reduce RINGCT transaction sizes and thus transaction fee costs. (Bulletproofs are a replacement for range proofs used in confidential transactions that aid in encrypting inputs and outputs by making sure they add to zero).
Sigma Protocol – being actively researched by Zcoin team as of 2018 to replace Zerocoin protocol so that a trusted setup is not required.[39] There is a possible replacement for zk-snarks, called zk-starks, another form of zero-knowledge proof technology, that may make a trusted set-up unnecessary for zero-knowledege proof coins.[40]

PART 1 CONCLUSION OF THE PRIVACY COIN GUIDE ON THE TECHNOLOGY BEHIND PRIVACY COINS

Although Bitcoin is still a groundbreaking technology that gives us a trust-less transaction system, it has failed to live up to its expectations of privacy. Over time, new privacy technologies have arrived and are arriving with innovative and exciting solutions for Bitcoin’s lack of fungibility. It is important to note that these technologies are built on prior research and application, but we are considering their use in cryptocurrencies. Protocols are proposed based on cryptographic concepts that show how they would work, and then developers actually implement them. Please note that I did not include the possibility of improper implementation as a disadvantage, and the advantages assume that the technical development is well done. A very important point is that coins can also adapt new privacy technologies as their merits become obvious, even as they start with a specific privacy protocol. Furthermore, I am, unfortunately, positive that this is not an exhaustive overview and I am only covering publicized solutions. Next, we’ll talk more about the pros and cons and give an idea of how the coins can be compared.

There's a video version that can be watched, and you can find out how to get the second two parts if you want on my website (video link on the page): https://cryptoramble.com/guide-on-privacy-coins/
submitted by CryptoRamble to ethtrader [link] [comments]

Is there any hope of a Physical currency backed with silver and gold again

Is there any hope left of a Precious Metals Currency?
Yes there is, after everything we know about Physical Precious Metals it’s hard to believe that one day soon we can still have a currency based on Physical silver, gold and other precious metals again.
The Solution for us all comes from the most unlikely of places.
Blockchain and CryptoCurrencies
Before you ignore this part please let me explain:
Bitcoin or any altcoins, most people struggle to comprehend why after only 10 years they have so much value when they have no physical form? It’s beyond the understanding of most people so they prefer to just stay away from it, ignore it and trust in what they believe in and what they are told.
But the idea behind the Blockchain and Cryptocurrencies is very simple if you are willing to look at it………….if you cut out the technical stuff and break it down it becomes undeniably brilliant.
The Brilliance of this system compared to the Paper Money System and the Physical Precious Metals Market
When we base our lives paper money, everything is decided for us, money is simply printed, interest rates are set, you are told your value in relation to this money and how much of it you earn will determine what kind of life you have, it’s that simple.
With Precious Metals it’s not much better, you are always told what they are worth, their use is meaningless, you have to pay to store them, pay premiums to buy them and never get back what you paid for them unless you are prepared to wait years.
We all live in a controlled system always following what others tell us do, it’s sickening
But it’s very different with cryptocurrencies, a cryptocurrency is not physical, it is simply a digital asset, an algorithm that cannot be controlled by any one person or group, because of this the possibilities are endless.
This is the true power of all cryptocurrencies; it’s their ability to get away from a manipulated and controlled system to one where everyone has control over it……
The Benefits
· No one person or group can gain control over the system
· The units are controlled so only a number can ever be mined or created
· Full control over a unit of a cryptocurrency is held by the owner and they alone get to hold that cryptocoin in their own digital wallet
· Each unit is designed to work as a medium of exchange to secure financial transactions
· I can freely value my unit through an online exchange to determine the value
· Movement cannot be monitored or controlled so you can transfer them anywhere in the world and each transaction is secured through the blockchain through a distributed ledger
Just an example of what this system gives you over physical money or physical precious metals:
I have own 1 bitcoin, now that bitcoin is mine, it’s in my wallet where I alone have full control over it, to set up my own digital wallet(my own bank) I had to spend 2 minutes creating it and I didn’t have to send any of my personal details or pictures or wait for a week to get an account, now that 1 bitcoin is mine and secure in my own bank(digital wallet), I am free to value this bitcoin through a worldwide 24hr exchange where other bitcoins are bought and sold so now I can determine its value, with that value I can now exchange it for paper money or use it to purchase goods and services because I now know its value which I can now show others, I can send this bitcoin to anyone throughout the world instantly, never will I have to worry about borders, restrictions or banks.
With that one bitcoin I did away with banks by becoming my own bank, I was able to value my own currency, I could use my bitcoin as real money and I could transfer it to anywhere in the world instantly.
Now please tell me if you can do any of this with paper money or with physical precious metals. This is the value of a bitcoin or any other cryptocurrency, it decentralizes rules and regulations and allows people to gain control over a currency again.
These simple solutions were enough to show the cracks behind this debt ridden money system we are in. It has shown that even an algorithm which has no apparent value, apart from the cost to mine these cryptocurrencies has shown how truly worthless our paper money system is.
There is however a catch to this system:
This system is not without flaws:
· First is you can only base the value of a cryptocurrency on a paper based money system because it has no physical form so it can only ever be anchored to whatever system of money is in place
· Cryptocurrencies will never be a real treat to the control set by central banks, only real physical value can ever threaten the central banks printing scheme
· You would never know if this system could survive the death of a currency
· It will never gain full acceptance as without real physical value behind it most would never be fully trusted
· The fluctuation in value can be so much that it could determine whether if someone who earned it would be able to eat one day or eat too much another, the stability of this form of money is to unstable
· There are too many, 6000 thousand at last count
· If we are not careful we will all serve a Governmental Cryptocurrency one day and if that happens we are all finished
Bridging the gap
There is one thing that can bridge the gap and take away all the flaws and concerns that come with cryptocurrencies, that’s Physical Precious metals.
Precious metals has the ability to bridge that gap needed to stabilize Cryptocurrencies, challenge our obedience to this worthless paper money system we are stuck with and it has the ability to provide real value for the rest of the population to trust.
Both Cryptocurrencies and Physical Precious Metals are inevitably tied together now to end this rotten system we are forced to obey and serve, separated both will only ever serve whatever money we are all forced to serve, however both Precious Metals and Cryptocurrencies have enough power to end this system of control once and for all.
Instead this is what physical precious metals must endure:
· Physical precious metals today are manipulated to a point where there value is set on an exchange which you do not control, where rules are changed to control and subdue their value at any time.
· Outside of the Exchanges controls are set over buying, storing, selling and even transporting Physical Precious Metals so in the end their use as money is meaningless and this keeps most of the population away from them.
· Different countries get to determine their own rules and set fees on how their own citizens can purchase and sell and even transport their Precious Metals.
· After all that, you might have to get a degree or a college diploma to understand everything about the different categories and classes of precious metals so you can begin to understand precious metals so you can actually value them
· Then you would have to know how to be able to authenticate them, which requires a lot of time.
The Physical side of the market has become a cesspool where you are being cheated and robbed at every angle by everyone, to think that all you want to do is protect your wealth but you have to deal with so much red tape and bullshit that it destroys the trust and value of Precious Metals from ever reaching enough of the population.
submitted by Endallbanks to u/Endallbanks [link] [comments]

How the Blockchain is superior than both paper money and Physical Precious Metals

Blockchain and CryptoCurrencies
Bitcoin or any altcoins, most people struggle to comprehend why after only 10 years they have so much value when they have no physical form? It’s beyond the understanding of most people so they prefer to just stay away from it, ignore it and trust in what they believe in and what they are told.
But the idea behind the Blockchain and Cryptocurrencies is very simple if you are willing to look at it………….if you cut out the technical stuff and break it down it becomes undeniably brilliant.
The Brilliance of this system compared to the Paper Money System and the Physical Precious Metals Market
When we base our lives paper money, everything is decided for us, money is simply printed, interest rates are set, you are told your value in relation to this money and how much of it you earn will determine what kind of life you have, it’s that simple.
With Precious Metals it’s not much better, you are always told what they are worth, their use is meaningless, you have to pay to store them, pay premiums to buy them and never get back what you paid for them unless you are prepared to wait years.
We all live in a controlled system always following what others tell us do, it’s sickening
But it’s very different with cryptocurrencies, a cryptocurrency is not physical, it is simply a digital asset, an algorithm that cannot be controlled by any one person or group, because of this the possibilities are endless.
This is the true power of all cryptocurrencies; it’s their ability to get away from a manipulated and controlled system to one where everyone has control over it……
The Benefits
· No one person or group can gain control over the system
· The units are controlled so only a number can ever be mined or created
· Full control over a unit of a cryptocurrency is held by the owner and they alone get to hold that cryptocoin in their own digital wallet
· Each unit is designed to work as a medium of exchange to secure financial transactions
· I can freely value my unit through an online exchange to determine the value
· Movement cannot be monitored or controlled so you can transfer them anywhere in the world and each transaction is secured through the blockchain through a distributed ledger
Just an example of what this system gives you over physical money or physical precious metals:
I have own 1 bitcoin, now that bitcoin is mine, it’s in my wallet where I alone have full control over it, to set up my own digital wallet(my own bank) I had to spend 2 minutes creating it and I didn’t have to send any of my personal details or pictures or wait for a week to get an account, now that 1 bitcoin is mine and secure in my own bank(digital wallet), I am free to value this bitcoin through a worldwide 24hr exchange where other bitcoins are bought and sold so now I can determine its value, with that value I can now exchange it for paper money or use it to purchase goods and services because I now know its value which I can now show others, I can send this bitcoin to anyone throughout the world instantly, never will I have to worry about borders, restrictions or banks.
With that one bitcoin I did away with banks by becoming my own bank, I was able to value my own currency, I could use my bitcoin as real money and I could transfer it to anywhere in the world instantly.
Now please tell me if you can do any of this with paper money or with physical precious metals. This is the value of a bitcoin or any other cryptocurrency, it decentralizes rules and regulations and allows people to gain control over a currency again.
These simple solutions were enough to show the cracks behind this debt ridden money system we are in. It has shown that even an algorithm which has no apparent value, apart from the cost to mine these cryptocurrencies has shown how truly worthless our paper money system is.
There is however a catch to this system:
This system is not without flaws:
· First is you can only base the value of a cryptocurrency on a paper based money system because it has no physical form so it can only ever be anchored to whatever system of money is in place
· Cryptocurrencies will never be a real treat to the control set by central banks, only real physical value can ever threaten the central banks printing scheme
· You would never know if this system could survive the death of a currency
· It will never gain full acceptance as without real physical value behind it most would never be fully trusted
· The fluctuation in value can be so much that it could determine whether if someone who earned it would be able to eat one day or eat too much another, the stability of this form of money is to unstable
· There are too many, 6000 thousand at last count
· If we are not careful we will all serve a Governmental Cryptocurrency one day and if that happens we are all finished
Bridging the gap
There is one thing that can bridge the gap and take away all the flaws and concerns that come with cryptocurrencies, that’s Physical Precious metals.
Precious metals has the ability to bridge that gap needed to stabilize Cryptocurrencies, challenge our obedience to this worthless paper money system we are stuck with and it has the ability to provide real value for the rest of the population to trust.
Both Cryptocurrencies and Physical Precious Metals are inevitably tied together now to end this rotten system we are forced to obey and serve, separated both will only ever serve whatever money we are all forced to serve, however both Precious Metals and Cryptocurrencies have enough power to end this system of control once and for all.
Instead this is what physical precious metals must endure:
· Physical precious metals today are manipulated to a point where there value is set on an exchange which you do not control, where rules are changed to control and subdue their value at any time.
· Outside of the Exchanges controls are set over buying, storing, selling and even transporting Physical Precious Metals so in the end their use as money is meaningless and this keeps most of the population away from them.
· Different countries get to determine their own rules and set fees on how their own citizens can purchase and sell and even transport their Precious Metals.
· After all that, you might have to get a degree or a college diploma to understand everything about the different categories and classes of precious metals so you can begin to understand precious metals so you can actually value them
· Then you would have to know how to be able to authenticate them, which requires a lot of time.
The Physical side of the market has become a cesspool where you are being cheated and robbed at every angle by everyone, to think that all you want to do is protect your wealth but you have to deal with so much red tape and bullshit that it destroys the trust and value of Precious Metals from ever reaching enough of the population.
submitted by Endallbanks to u/Endallbanks [link] [comments]

Pi Network Mining Airdrop – Earn PI Coins Daily Free ($1.6 Per Day) – How To Withdraw PI Coin?

I've been trading bitcoin and numerous other cryptocoins for about a year and doing okay. But I found this little gem and wanted to share it with everyone. It has NO VALUE....YET! But I think this is going to take off because it was developed by some pretty smart folks with Ph.D.s at Stanford University. Here's the really good part, it costs you nothing now, its easy to become a pioneer and its easy to earn everyday. Once it comes online who knows what it will sell for, but you can earn right now for free and again who knows. It's totally worth the effort. Join me and let's see what happens.
Pi Network Mining Airdrop – Tutorial As Below
Step 1: Download PI App Account
– Download PI App at: Android App or IOS App
Step 2: Register PI App Account
– After download PI App successfully: Open App and register account
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– Recommend: Press on ‘Continue with phone number’

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– Select Your country and enter Your phone number then press on ‘Go’ to verify phone number

Processing img cohjm40clhr41...
– Create login password and press on ‘Submit’

Processing img domnfihelhr41...
– Enter Your first, last name and create username then press on ‘Submit’

https://preview.redd.it/uvbp6kygmhr41.jpg?width=381&format=pjpg&auto=webp&s=05e1d27de2d0b160380ac93efb87491b5b75235e
– Enter into the ‘Invitation code’ is: markrugen
– You have done PI App registration.
Step 3: Earn PI Coin Daily Free
– After register PI App successfully, press on ‘Get Started’

Processing img kz424wnjmhr41...
– Press on the Lightning button to earn PI Coin, You can even close the app and you will continue to mine PI

Processing img exnno9jmmhr41...
– Click on ‘Yes’ to receive a notification after 24 hours to activate again

Processing img c3uq6rlpmhr41...
Withdraw PI Coin
– Login Your account on PI App: Press on ‘The Three Horizontal Lines’ at left top corner then select ‘Profile’

Processing img schdhdxrmhr41...
– At ‘Phone verification’: Click on ‘Verify’ then press on ‘Start’: follow the instruction to send SMS to Pi’s phone number to verify.
– After verify Your phone number successfully, You can claim and withdraw Your PI Coin after Pi Network launched
Referral Rewards
– Press on ‘The Three Horizontal Lines’ at left top corner then select ‘Profile’ to get Your invitation code

Processing img egiuctwvmhr41...
– Invite people to download and register PI App to earn extra PI Coin daily
submitted by mrugen99 to u/mrugen99 [link] [comments]

Bitcoin investment plan

Bitcoin investment plan
While Bitc0in contributing can be scary for those simply considering making the plunge, there are a few hints that newcomers can use to boost their odds of accomplishment.

By following the main five hints recorded underneath, financial specialists can help their odds of meeting their objectives.

1) Do Your Homework

Above all else, speculators simply beginning with Bitcoin need to get their work done.

"The more you comprehend the happier will be," expressed Pawel Kuskowski, CEO and prime supporter of Coinfirm, a blockchain and administrative innovation firm.

He accentuated that "bitcoin offers a remarkable and uncommon chance, yet should be dealt with as needs be."

Therefore, more than one master urged newcomers to plunge into Bitcoin's basic innovation.

"In the event that you have any specialized bowed at all, take 10 minutes to leaf through the first 2008 Satoshi white paper," expressed crypto support director Jacob Eliosoff.

"It's just 8 pages, clear and a moving work of virtuoso!"

[Ed note: Investing in cryptocoins or tokens is exceptionally theoretical and the market is generally unregulated. Anybody considering it ought to be set up to lose their whole investment.]

Lucas Geiger, originator and CEO of Wireline, offered comparable direction, expressing that financial specialists ought to make certain to have a solid handle of the blockchain, the dispersed record framework that underlies every single computerized money.

"This may appear glaringly evident, yet I think the main thing is set aside effort to comprehend the blockchain," said Geiger. "I state this unequivocally, on the grounds that couple of individuals will do this."

"On the off chance that you don't have an elevated level comprehension of how a blockchain stores secure information, (for example, coins), at that point you are putting resources into what could be compared to tulip bulbs," he included.

Since finding out about Bitcoin can require some serious energy, more up to date financial specialists may profit essentially from working with a tutor, underscored Adam Nestler, CEO of Kudos, a decentralized convention for building a reasonable help economy.

"Locate a confided face to face or asset that you can draw in with to pose inquiries so as to comprehend the subtleties of your interest in a protected situation," he said.

https://preview.redd.it/5fcewlfwz0g41.jpg?width=679&format=pjpg&auto=webp&s=29a3cad3540ad1b8baa6e551e357111633914e82
2) Proceed With Caution

Hazard is natural to speculation, and speculators should remember that advanced money is in a beginning period of improvement when contrasted with comparable resource markets like the stock or security markets.

"This is as yet a very high-hazard space," accentuated Eliosoff. "Try not to contribute cash you can't bear to lose!"

While these contemplations can be very useful, a few specialists gave increasingly explicit direction.

"Start little, and contribute a little bit of your capital," recommended Marshall Swatt, a sequential business person.

Tim Enneking, overseeing executive of Crypto Asset Management, offered tips for entering positions.

"Try not to pursue Bitcoin costs. Settle on a passage point and stick with it," he said. "With Bitcoin, you're quite often directly as far as predictable value activity – it's your planning that may be off. Along these lines, be patient, and let the Bitcoin value come to you."

Once Bitcoin has arrived at the correct value, Enneking proposed that speculators forgo purchasing their Bitcoin at the same time. Rather, they should "organize in and arrange out," which means they ought to contribute a little at once, hang tight for a piece, and afterward contribute some more.
submitted by Bitcoin12investment to u/Bitcoin12investment [link] [comments]

CoinDesk: 56% Of Bitcoiners believe the Bitcoin price will reach $10,000 in 2014 - What does this mean for Litecoin? Discuss!

Article: http://www.coindesk.com/56-of-bitcoiners-believe-bitcoin-will-reach-10000-in-2014/
Hey all,
If Bitcoin were to be $10,000 in 2014... how much do you think LTC would be worth? I'd say around the $300-$500 range (conservatively).
What do you think the range would be?
submitted by daveisnotafk to litecoin [link] [comments]

Investors' trust in the US dollar is down as the trust in gold keeps growing

Investors' trust in the US dollar is down as the trust in gold keeps growing
In the last couple of years, central banks in many countries have been actively buying gold. This increased demand served as a key factor in driving up the price for the precious metal. Recently, the price even exceeded $1,500 for a troy ounce. Even though it's still far from the historical high of $1770 (reached in 2011), the current price dynamics points towards a new cycle of growth.
The 2008-2011 price rally started at the $750 mark and was a result of the global financial crisis. Fortunately, developed economies managed to halt the downturn quite quickly, and the price of gold underwent a correction. However, after a fall to $1,070 for a troy oz. at the end of 2015, a new uptrend began. It was hardly noticeable at first, but by spring-2019, with the escalating US-China trade war and increasing tensions in the Middle East, gold prices started to grow rapidly.

https://preview.redd.it/nd521570t9b41.png?width=640&format=png&auto=webp&s=d64acfdd43963aaec55cb39da74abf345783cf40
It's worth noting that for the past few decades, the United States has held more gold in reserve than any other country in the world. In the last 15 years, the US gold reserves have stayed virtually unchanged, at 8,100 tons. By comparison, Germany — which holds the second place - has circa 3,400 tons of gold, or more than twice when compared to the US. Numerous international experts claim that the money and credit policy of the United States has a decisive impact on the price of gold. This theory does a great job at explaining the current situation: as the Federal Reserve takes steps to devalue the dollar, the gold prices keep growing.
In particular, in June, Bank of America experts Michelle Meyer and Ben Randall, issued a warning saying that the US government is considering an intervention to weaken the dollar.
In this context, more and more countries, central banks, and corporations realize that the value of the US dollar is based on the trust conferred to it by the global community. If this trust evaporates, a crash will become inevitable. The USD exchange rate may not fall so much relative to the euro or Japanese yen. However, the change relative to the price of gold will be dramatic. The exchange rates of all other fiat currencies to gold will decrease proportionately.
Gold is a safe investment asset, since US authorities cannot subject it to any sanctions. Besides, it has value in its own right, which is a statement that does not apply to US dollars or the euro. Thus, it's not surprising that the demand for physical gold continues to grow.
According to the latest report issued by the World Gold Council, the demand for the yellow metal reached a 3-year high in the first half of 2019. In Q2 2019 alone, global demand grew to 1,123 tons, which is 8% higher than in the second quarter of 2018.
The demand was spurred mostly by the ongoing purchases of central banks and by the steady growth of the gold-backed ETF market. The overall demand for gold in the first 6 months of 2019 grew to 2,181.7 tons.
During the same period, central banks across the globe bought a total of 374.1 tons – the largest six-month net increase in global gold reserves for the whole 19-year history of quarterly records. The report states that the most active buyers were central banks in developing countries.
The growth of state gold reserves around the world hints at intensifying disagreements among countries. This can be a sign that countries want to abandon the traditional reserve currencies of the old global economic leaders. As a result, the growing demand for gold is threatening the positions of the US, UK, and the European Union.
However, there is a key difference between the 2008 crisis (which led to a sharp increase in the gold prices) and the current situation. The market now has a new alternative to fiat money: cryptocurrencies. In the next ten years, global market players will have three basic instruments at their disposal: fiat money (mostly the US dollar as the main reserve currency), gold, and crypto (first and foremost Bitcoin).
Out of the three, fiat money is considered ever less reliable. There is already a tremendous amount of paper money that is not backed by anything – and more is being printed every day. The alternatives are the tried-and-true gold, on the one hand, or the new cryptocurrency ecosystem, on the other. While gold is the money of the past, fiat currencies (USD) are the money of the present, and crypto is the future of money.
A good example of a breakthrough solution for the problem of money is the new GOLD stablecoin. It combines the features of traditional currencies, while also leveraging the power of cryptocurrency, thus bypassing the unreliable fiat systems entirely.
In order to understand why it's such a disruptive solution, we should compare it to the most popular fiat-backed stablecoin on the market – USDT. Tether receives fiat dollars, stores them in a bank as a reserve fund, and issues tokens whose number should theoretically equal the amount of US dollars present in the reserve.
As shown by the recent incident with Bitfinex, this is not exactly true – but that issue goes beyond the scope of this article. Here, we must only mention that the market cap of Tether exceeds $4 billion – even though Tether investors don't receive any reward for holding their tokens.
The situation is almost absurd: with the current sanctions and repeated personal data leaks, many individuals and companies find that it's safer to store their funds in a stable cryptocoin than in US dollars – the most secure fiat currency. Unlike Tether and other fiat-pegged stablecoins, GOLD is pegged to the price of gold at the rate of 1 GOLD = 1 gram of 99.99% gold. Just like Tether stores US dollars in its reserve accounts, Digital Gold (the issuer of GOLD) keeps its physical gold reserves in a specialized vault.
The vault belongs to BullionStar – a global leader in the precious metals market. The gold is audited round the clock by BullionStar itself, providing a much stronger guarantee of security than any bank account statement. As investors keep buying more GOLD stablecoins, the company will keep purchasing new batches of physical gold, depositing it in the vault, and issuing new tokens.
The total amount of gold held by individuals, central banks, stores, and private vaults across the globe is valued at $8 trillion. Some experts believe that Bitcoin is the only crypto that can reach the same market capitalization and become a digital alternative to gold.
However, Bitcoin, like all other cryptocurrencies, is highly volatile. Besides, transaction fees in the Bitcoin network are high, so it can't be used for micropayments. And as the BTC price keeps growing, increasing fees can become a problem for larger transfers, too.
In this context, GOLD tokens feature three serious advantages. First of all, they are not volatile. Of course, the token's price does change as the underlying price of gold changes. But for those investors who are used to buying physical gold or ETFs, these fluctuations won't constitute a problem.
Secondly, the fact that GOLD is an ERC-20 token means that it can be successfully used for any payments, including microtransactions. In the absence of excess volatility, the average fee will range from $0.01 to $0.02. Lastly, since physical gold will always grow relative to all fiat currencies, GOLD will keep growing relative to all fiat stablecoins. Of course, this is only valid over long periods of time, since in the short term, gold prices can both rise and fall. The key point is that gold has been growing in value over the course of millennia. Thus, long-term investors will find GOLD far more attractive than any fiat-based stablecoins. What's more, they might soon lose their interest in fiat-pegged crypto altogether.
Website : https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf Follow us on social media: Twitter: https://twitter.com/gold_erc20 Telegram: https://t.me/digitalgoldcoin Steemit: https://steemit.com/@digitalgoldcoin Reddit: https://www.reddit.com/golderc20/ Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
submitted by digitalgoldcoin to golderc20 [link] [comments]

What are Bitcoins / Cryptocoins? - Tutorial [EN] Estimating FUTURE VALUE Of Your Coins - MARKET CAP ... WATCH OUT! MASSIVE BITCOIN DUMP COULD BE HAPPENING TOMORROW THE NEXT PRICE WILL SHOCK YOU!! Bitcoin and cryptocurrency mining explained - YouTube Does Bitcoin REALLY Have Value? The TRUTH About Bitcoin's ...

Over the past week, while the crypto market was shedding half its value, a handful of coins picked the worst time to perform their best. These obscure low cap and low volume cryptos witnessed the ... Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. Skip to content. Prices. Products. Company. Earn crypto. Get $171+ Sign in. Get started. Price charts Bitcoin price. Bitcoin price (BTC) Add to Watchlist $ 13,070.01 +0.56%. 1h. 24h. 1w. 1m. 1y. all. $0.0000 January 1 12:00 AM. 10:56 AM 3:06 PM 7:17 PM 11:27 PM 3:38 AM ... Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. Home » Crypto News » Bitcoin’s Core Value Is to Be Rationed, Says the Acting US Comptroller of the Currency. Bitcoin’s Core Value Is to Be Rationed, Says the Acting US Comptroller of the Currency Author: Jordan Lyanchev Last Updated Oct 21, 2020 @ 21:06. Decentralized networks could be the future if global regulators find a suitable framework to enhance their operations, believes US OCC ... Cryptocurrency coins listed by market capitalization. Today's prices for the top 100 crypto coins including BTC, ETH, XRP, BCH. LTC and many more.

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What are Bitcoins / Cryptocoins? - Tutorial [EN]

Come and learn the ins and out of Bitcoin and Cryptocoin. Learn the difference between the coins, why I like Bitcoin, which other coins to consider and how the coins work. Join me each Thursday ... Will your $0.01 Siacoins be worth $1000 some day? You can use Market Cap to gauge the likelihood that will happen. Watch my video to learn more!! Also please... Welcome to my channel - Crypto Coin Investor! Here, I discuss upcoming crypto currencies that can become next bitcoin / ethereum / litecoin. I do Coin/Token ... Bitcoin is a digital currency, a protocol, and a software that enables Instant peer to peer transactions Worldwide payments Low or zero processing fees And much more! Bitcoin uses peer to peer ... Join Our FREE Daily Newsletter!: https://goo.gl/5ZquqV Sign Up For Our Insider Market Analysis & Premium Courses: https://goo.gl/gqTi26 Twitter: https://goo....

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