This Is How Much BTC You Need to Enter Bitcoin’s Elite 1% ...

[OWL WATCH] Waiting for "IOTA TIME" 20; Hans's re-defined directions for DLT

Disclaimer: This is my editing, so there could be some misunderstandings...
--------------------------------------------
wellwho오늘 오후 4:50
u/Ben Royce****how far is society2 from having something clickable powered by IOTA?
Ben Royce오늘 오후 4:51
demo of basic tech late sep/ early oct. MVP early 2021
---------------------------------------------------
HusQy
Colored coins are the most misunderstood upcoming feature of the IOTA protocol. A lot of people see them just as a competitor to ERC-20 tokens on ETH and therefore a way of tokenizing things on IOTA, but they are much more important because they enable "consensus on data".
Bob
All this stuff already works on neblio but decentralized and scaling to 3500 tps
HusQy
Neblio has 8 mb blocks with 30 seconds blocktime. This is a throughput of 8 mb / 30 seconds = 267 kb per second. Transactions are 401+ bytes which means that throughput is 267 kb / 401 bytes = 665 TPS. IOTA is faster, feeless and will get even faster with the next update ...
-----------------------------------------------------------------------------
HusQy
Which DLT would be more secure? One that is collaboratively validated by the economic actors of the world (coporations, companies, foundations, states, people) or one that is validated by an anonymous group of wealthy crypto holders?
HusQy
The problem with current DLTs is that we use protection mechanisms like Proof of Work and Proof of Stake that are inherently hard to shard. The more shards you have, the more you have to distribute your hashing power and your stake and the less secure the system becomes.
HusQy
Real world identities (i.e. all the big economic actors) however could shard into as many shards as necessary without making the system less secure. Todays DLTs waste trust in the same way as PoW wastes energy.
HusQy
Is a secure money worth anything if you can't trust the economic actors that you would buy stuff from? If you buy a car from Volkswagen and they just beat you up and throw you out of the shop after you payed then a secure money won't be useful either :P
HusQy
**I believe that if you want to make DLT work and be successful then we need to ultimately incorporate things like trust in entities into the technology.**Examples likes wirecard show that trusting a single company is problematic but trusting the economy as a whole should be at ...
**... least as secure as todays DLTs.**And as soon as you add sharding it will be orders of magnitude more secure. DLT has failed to deliver because people have tried to build a system in vacuum that completely ignores things that already exist and that you can leverage on.
----------------------------------------------------------------------------------
HusQy
Blockchain is a bit like people sitting in a room, trying to communicate through BINGO sheets. While they talk, they write down some of the things that have been said and as soon as one screams BINGO! he hands around his sheet to inform everybody about what has been said.
HusQy
If you think that this is the most efficient form of communication for people sitting in the same room and the answer to scalability is to make bigger BINGO sheets or to allow people to solve the puzzle faster then you will most probably never understand what IOTA is working on.
--------------------------------------------------------------------------------
HusQy
**Blockchain does not work with too many equally weighted validators.****If 400 validators produce a validating statement (block) at the same time then only one can survive as part of a longest chain.**IOTA is all about collaborative validation.
**Another problem of blockchain is that every transaction gets sent twice through the network. Once from the nodes to the miners and a 2nd time from the miners as part of a block.**Blockchain will therefore always only be able to use 50% of the network throughput.
And****the last problem is that you can not arbitrarily decrease the time between blocks as it breaks down if the time between blocks gets smaller than the average network delay. The idle time between blocks is precious time that could be used for processing transactions.
-----------------------------------------------------------------------------
HusQy
I am not talking about a system with a fixed number of validators but one that is completely open and permissionless where any new company can just spin up a node and take part in the network.
------------------------------------------------------------------------
HusQy
Proof of Work and Proof of Stake are both centralizing sybil-protection mechanism. I don't think that Satoshi wanted 14 mining pools to run the network.
And "economic clustering" was always the "end game" of IOTA.
-----------------------------------------------------------------------------
HusQy
**Using Proof of Stake is not trustless. Proof of Stake means you trust the richest people and hope that they approve your transactions. The rich are getting richer (through your fees) and you are getting more and more dependant on them.**Is that your vision of the future?
----------------------------------------------------------------------------

HusQy
Please read again exactly what I wrote. I have not spoken of introducing governance by large companies, nor have I said that IOTA should be permissioned. We aim for a network with millions or even billions of nodes.

HusQy
That can't work at all with a permissioned ledger - who should then drop off all these devices or authorize them to participate in the network? My key message was the following: Proof of Work and Proof of Stake will always be if you split them up via sharding ...

HusQy
... less secure because you simply need fewer coins or less hash power to have the majority of the votes in a shard. This is not the case with trust in society and the economy. When all companies in the world jointly secure a DLT ...

HusQy
... then these companies could install any number of servers in any number of shards without compromising security, because "trust" does not become less just because they operate several servers. First of all, that is a fact and nothing else.

HusQy
Proof of Work and Proof of Stake are contrary to the assumption of many not "trustless" but follow the maxim: "In the greed of miners we trust!" The basic assumption that the miners do not destroy the system that generates income for them is fundamental here for the ...

HusQy
... security of every DLT. I think a similar assumption would still be correct for the economy as a whole: The companies of the world (and not just the big ones) would not destroy the system with which their customers pay them. In this respect, a system would be ...

HusQy
... which is validated by society and the economy as a whole probably just as "safely" as a system which is validated by a few anonymous miners. Why a small elite of miners should be better validators than any human and ...

HusQy
... To be honest, companies in this world do not open up to me. As already written in my other thread, safe money does not bring you anything if you have to assume that Volkswagen will beat you up and throw you out of the store after you ...

HusQy
... paid for a car. The thoughts I discussed say nothing about the immediate future of IOTA (we use for Coordicide mana) but rather speak of a world where DLT has already become an integral part of our lives and we ...

HusQy
... a corresponding number of companies, non-profit organizations and people have used DLT and where such a system could be implemented. The point here is not to create a governance solution that in any way influences the development of technology ...

HusQy
... or have to give nodes their OK first, but about developing a system that enables people to freely choose the validators they trust. For example, you can also declare your grandma to be a validator when you install your node or your ...

HusQy
... local supermarket. Economic relationships in the real world usually form a close-knit network and it doesn't really matter who you follow as long as the majority is honest. I also don't understand your criticism of censorship, because something like that in IOTA ...

HusQy
... is almost impossible. Each transaction confirms two other transactions which is growing exponentially. If someone wanted to ignore a transaction, he would have to ignore an exponential number of other transactions after a very short time. In contrast to blockchain ...

HusQy
... validators in IOTA do not decide what is included in the ledger, but only decide which of several double spends should be confirmed. Honest transactions are confirmed simply by having other transactions reference them ...

HusQy
... and the "validators" are not even asked. As for the "dust problem", this is indeed something that is a bigger problem for IOTA than for other DLTs because we have no fees, but it is also not an unsolvable problem. Bitcoin initially has a ...

HusQy
Solved similar problem by declaring outputs with a minimum amount of 5430 satoshis as invalid ( github.com/Bitcoin/Bitcoi…). A similar solution where an address must contain a minimum amount is also conceivable for IOTA and we are discussing ...

HusQy
... several possibilities (including compressing dust using cryptographic methods). Contrary to your assumption, checking such a minimum amount is not slow but just as fast as checking a normal transaction. And mine ...

HusQy
... In my opinion this is no problem at all for IOTA's use case. The important thing is that you can send small amounts, but after IOTA is feeless it is also okay to expect the recipients to regularly send their payments on a ...

HusQy
... merge address. The wallets already do this automatically (sweeping) and for machines it is no problem to automate this process. So far this was not a problem because the TPS were limited but with the increased TPS throughput of ...

HusQy
... Chrysalis it becomes relevant and appropriate solutions are discussed and then implemented accordingly. I think that was the most important thing first and if you have further questions just write :)

HusQy
And to be very clear! I really appreciate you and your questions and don't see this as an attack at all! People who see such questions as inappropriate criticism should really ask whether they are still objective. I have little time at the moment because ...

HusQy
... my girlfriend is on tour and has to take care of our daughter, but as soon as she is back we can discuss these things in a video. I think that the concept of including the "real world" in the concepts of DLT is really exciting and ...

HusQy
... that would certainly be exciting to discuss in a joint video. But again, that's more of a vision than a specific plan for the immediate future. This would not work with blockchain anyway but IOTA would be compatible so why not think about such things.
-----------------------------------------------------------------------

HusQy
All good my big one :P But actually not that much has changed. There has always been the concept of "economic clustering" which is basically based on similar ideas. We are just now able to implement things like this for the first time.
----------------------------------------------------------------------------------

HusQy
Exactly. It would mean that addresses "cost" something but I would rather pay a few cents than fees for each transaction. And you can "take" this minimum amount with you every time you change to a new address.

HusQy
All good my big one :P But actually not that much has changed. There has always been the concept of "economic clustering" which is basically based on similar ideas. We are just now able to implement things like this for the first time.
-----------------------------------------------------------------------------------

Relax오늘 오전 1:17
Btw. Hans (sorry for interrupting this convo) but what make people say that IOTA is going the permissioned way because of your latest tweets? I don't get why some people are now forecasting that... Is it because of missing specs or do they just don't get the whole idea?

Hans Moog [IF]오늘 오전 1:20
its bullshit u/Relaxan identity based system would still be open and permissionless where everybody can choose the actors that they deem trustworthy themselves but thats anyway just sth that would be applicable with more adoption
[오전 1:20]
for now we use mana as a predecessor to an actual reputation system

Sissors오늘 오전 1:31
If everybody has to choose actors they deem trustworthy, is it still permissionless? Probably will become a bit a semantic discussion, but still

Hans Moog [IF]오늘 오전 1:34
Of course its permissionless you can follow your grandma if you want to :p

Sissors오늘 오전 1:36
Well sure you can, but you will need to follow something which has a majority of the voting power in the network. Nice that you follow your grandma, but if others dont, her opinion (or well her nodes opinion) is completely irrelevant

Hans Moog [IF]오늘 오전 1:37
You would ideally follow the people that are trustworthy rather than your local drug dealers yeah

Sissors오늘 오전 1:38
And tbh, sure if you do it like that is easy. If you just make the users responsible for only connection to trustworthy nodes

Hans Moog [IF]오늘 오전 1:38
And if your grandma follows her supermarket and some other people she deems trustworthy then thats fine as well
[오전 1:38]
+ you dont have just 1 actor that you follow

Sissors오늘 오전 1:38
No, you got a large list, since yo uwant to follow those which actually matter. So you jsut download a standard list from the internet

Hans Moog [IF]오늘 오전 1:39
You can do that
[오전 1:39]
Is bitcoin permissionless? Should we both try to become miners?
[오전 1:41]
I mean miners that actually matter and not find a block every 10 trillion years 📷
[오전 1:42]
If you would want to become a validator then you would need to build up trust among other people - but anybody can still run a node and issue transactions unlike in hashgraph where you are not able to run your own nodes(수정됨)
[오전 1:48]
Proof of Stake is also not trustless - it just has a builtin mechanism that downloads the trusted people from the blockchain itself (the richest dudes)

Sissors오늘 오전 1:52
I think most agree it would be perfect if every person had one vote. Which is pr oblematic to implement of course. But I really wonder if the solution is to just let users decide who to trust. At the very least I expect a quite centralized network

Hans Moog [IF]오늘 오전 1:53
of course even a trust based system would to a certain degree be centralized as not every person is equally trustworthy as for example a big cooperation
[오전 1:53]
but I think its gonna be less centralized than PoS or PoW
[오전 1:53]
but anyway its sth for "after coordicide"
[오전 1:54]
there are not enough trusted entities that are using DLT, yet to make such a system work reasonably well
[오전 1:54]
I think the reason why blockchain has not really started to look into these kind of concepts is because blockchain doesnt work with too many equally weighted validators
[오전 1:56]
I believe that DLT is only going to take over the world if it is actually "better" than existing systems and with better I mean cheaper, more secure and faster and PoS and PoW will have a very hard time to deliver that
[오전 1:56]
especially if you consider that its not only going to settle value transfers

Relax오늘 오전 1:57
I like this clear statements, it makes it really clear that DLT is still in its infancy

Hans Moog [IF]오늘 오전 1:57
currently bank transfers are order of magnitude cheaper than BTC or ETH transactions

Hans Moog [IF]오늘 오전 1:57
and we you think that people will adopt it just because its crypto then I think we are mistaken
[오전 1:57]
The tech needs to actually solve a problem
[오전 1:57]
and tbh. currently people use PayPal and other companies to settle their payments
[오전 1:58]
having a group of the top 500 companies run such a service together is already much better(수정됨)
[오전 1:58]
especially if its fast and feeless
[오전 2:02]
and the more people use it, the more decentralized it actually becomes
[오전 2:02]
because you have more trustworthy entities to choose of

Evaldas [IF]오늘 오전 2:08
"in the greed of miners we trust"


submitted by btlkhs to Iota [link] [comments]

The Truth about Bitcoin?

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

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

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

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

The Truth about Bitcoin?

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

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

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

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

CPS (capricoin) to be the new king in defi!

CPS (capricoin) to be the new king in defi!

https://preview.redd.it/7ocji9v25ih51.jpg?width=732&format=pjpg&auto=webp&s=2805c69e1a1668b9dea7dfcbd297e210a9a1ef5f
With the recent popularity of the concept of defi, token in Ethereum ecology has gradually become an important asset category in cryptocurrency. In terms of the total amount of tokens, issuance, transaction time and transparency of smart contracts, these passes have both the characteristics of blockchain and the advantages provided by Ethereum, especially when Ethereum 2.0 is about to emerge. Ethereum erc20 protocol realizes "everyone can issue money", while DEX realizes "everyone can pay money".

It is needless to say that the prospect of defi decentralized finance is open, transparent and low threshold, which will reshape all aspects of traditional economic formats, so it is also known as "finance from the future". According to debank data, on August 12, the total market value of defi exceeded US $12 billion, while on August 10, the market value of defi just exceeded 10 billion, an increase of $2 billion or 20% in two days. In addition, the lock-in value of the defi ecosystem reached $5.5 billion, a record high.

https://preview.redd.it/t08ec7nf4ih51.jpg?width=600&format=pjpg&auto=webp&s=9cb2ee8292862762d6d8b47fe726a3c41f2eb572
In the current defi ecosystem, the main projects are basically focused on the decentralized lending of cryptocurrency, decentralized exchanges and other businesses, and there are few integrated service agreements based on decentralized finance. CPS (capricoin) ecological economy is a decentralized, private and democratic economy. If we design in a decentralized way, we believe that many departments will be improved and more efficient. Transaction costs can be greatly reduced, and the activities on the platform are more economical, more private and safer. In addition, the platform's defense against attacks is greatly improved. If you want to prevent attacks, you can shut down the network. CPS (capricoin) should break the Convention and become the breaker and leader of decentralized financial integration service agreement.

https://preview.redd.it/606kv77m4ih51.png?width=2111&format=png&auto=webp&s=31c4285984aab73c7a149084667e8c229509d8a0

CPS (capricoin) is the world's first distributed finance protocol based on blockchain, initiated by anonymous geek community. CPS is its token. Following bitcoin's steps, CPS (capricoin) advocates open source policy. Open source projects have a positive impact on sustainability because they support the principles of open communication, collaborative participation, peer review, rapid prototyping, transparency, elite management and community oriented development. It is these facilities that enable users and programmers to check, modify and consolidate the source code, and finally create it.
CPS (capricoin) will fully expand the target of defi and develop a new generation of decentralized digital finance technology. Based on the CPS (capricoin) ecology, we will create a decentralized financial aggregation platform, so as to help users achieve a full range of financial activities in the field of digital money and finance, and provide including but not limited to mining, lending, ABS, quantification, derivatives and other financial service agreements. By using smart contract and Oracle technology, CPS (Capricorn) distributed financial protocol has the advantages of faster transaction speed, higher security, lower threshold of participation and stronger decentralization attribute.

https://preview.redd.it/cmoc7x5q4ih51.png?width=1411&format=png&auto=webp&s=835ca495b0db56cb0af50fb6c50dc34944c2c425
In the future, CPS (capricoin) will make full use of and give full play to the advantages of blockchain decentralization, create a credit system that cannot be built by traditional financial system, expand the ecosystem of CPS (capricoin), and help more users with financial needs obtain more convenient financial services.

Not only defi, the ambition of CPS (capricoin) is to build a specific financial system, so as to combine the current digital currency with modern finance, establish a set of decentralized financial rules, and establish a communication channel between the existing physical finance and digital money finance.

https://preview.redd.it/59b67ohy4ih51.png?width=1418&format=png&auto=webp&s=80037177963f409e4490f9ed5d7bb62a239c6823
CPS (capricoin) believes that by establishing a complete set of autonomous financial system, realizing faster function iteration and upgrading with blockchain technology more in line with the future trend, and promoting more mature application and public chain development path, a new ecological transformation of decentralized finance is coming.
submitted by caipricoin to u/caipricoin [link] [comments]

Interview With Eddie Jiang: How CoinEx Is Adapting To The Exchange Space And Growing

Interview With Eddie Jiang: How CoinEx Is Adapting To The Exchange Space And Growing
Written by chaintalk.tv
https://preview.redd.it/v238540taz751.jpg?width=1280&format=pjpg&auto=webp&s=2a852e171a74e49da802d7c12fadba452cf4cf43
We recently had the opportunity to interview the VP of ViaBTC Group, Eddie Jiang. ViaBTC Group owns popular crypto exchange CoinEx and ViaBTC Pool. In this interview Eddie discusses being the first exchange to use BCH as the base currency, ViaBTC Pool and integrating with CoinEx, new features and ambassador program, and competing with other exchanges like Binance and Huobi. Please enjoy the interview below.
How come you decided to open up CoinEx to other cryptos other than just BCH?
Eddie Jiang: CoinEx is the world’s first exchange to implement Bitcoin Cash as a base currency. At that time, it was evident that there was a demand for BCH trading markets, and we are the first to explore this opportunity. It also shows our determination to support the BCH’s development.
As CoinEx is developing, our goal becomes bigger and we are aiming at the global market. We need to constantly improve our product diversification to meet the different needs of more users, so we open up to other cryptos. In the past six months, we have listed more than 50 new tokens. Up to now, we have listed 129 cryptos and 313 markets. Besides, in addition to spot trading, CoinEx also supports perpetual contract and other derivatives trading.
How does CoinEx integrate with the ViaBTC Pool?
Eddie Jiang: ViaBTC Group announced a strategic upgrade, which included a new organizational structure, product innovations and service improvements, on 30 May.
As part of the change, the Group has established three dedicated business units (BU): the financial services BU, consisting of ViaBTC mining pool and CoinEx exchange; the infrastructure services BU, including ViaWallet and Blockchain Explorer; and the ecological development BU, focusing on the research and development of public chain technology and the construction of the ecology.
After halving, the combination of mining and finance will become closer and closer. Investing in mining machines is like buying a Bitcoin option. Miners need more flexible financial products to maintain and increase the value of assets, or hedging services. Based on this judgment, the operations of ViaBTC mining pool and CoinEx exchange will be integrated in the future to realize the financial empowerment of the mining pool to meet the diverse financial needs of miners.
Features of this integrated product upgrade can be summarized as: “ The mining pool is the wallet, and the wallet is the transaction.” ViaBTC is the world first mining pool that has a wallet embedded in the mining pool account. Users do not need to transfer the mined coins, and can realize the function of coin exchange within the wallet. For example, they can directly convert the mined coins into USDT to pay electricity bill. What’s more, users can store, deposit and withdraw their revenue, and transfer assets to CoinEx at any time without charge, as well as complete other operations on the exchange, such as purchasing wealth management products for asset preservation and appreciation. In addition, we also provide hedging services. All of the above functions can be completed in one stop in the mining pool, without the need to transfer assets between different platforms.
The exchange empowers the mining pool, and the mining pool will further bring more traffic and resources to the exchange. The two complement each other and development coordinately.
CoinEx has recently added many new features. Can you talk about what new updates were made to the platform and why you made them?
Eddie Jiang: We have always attached great importance to the development of overseas markets since our establishment, and one of our major goals this year is to cover at least 10 different languages speaking markets.
To realize this and to meet the needs of more users worldwide, CoinEx has been continuously optimizing and upgrading its operating strategies, products and services. Our product diversifications are constantly improving. As I said before, we have launched leverage trading, perpetual contract trading, and wealth management products in addition to just spot trading. However, we don’t ignore the importance of spot trading. More mainstream, popular, and high-quality tokens have been listed, and up to now, there are 129 tokens and 313 trading pairs on CoinEx.
During the epidemic, we have never slowed down our development. Lacking of the OTC service has always been a shortage for CoinEx. In March, we partner with Simplex to integrate the first fiat onramp to our platform. People now can buy crypto with their credit cards, which lowers the threshold for more people to enter the crypto world. Moreover, we announced global strategic partnership with Matrixport to provide people with large amount of fiat to crypto needs the OTC service. These newly launched services also help to attract more users.
At the same time, CoinEx has been launched in Arabic, Italian, English, Japanese, Russian, Korean and other 16 languages. Earlier we also carried out product upgrades, making the UI and function sections clearer.
In terms of operations, we launched an upgraded CoinEx Ambassador program in March. To best utilize each ambassador’s personal strengths, there are four categories of CoinEx Ambassador with different responsibilities, namely Referral Ambassador, Marketing Ambassador, Operation Ambassador, and Business Ambassador, which will expand our brand’s exposure and help CoinEx grow into a more international exchange platform.
From March until now CoinEx has seen a 100% increase in user registrations. Why is that and are you able to see where they are coming from?
Eddie Jiang: Because of the efforts mentioned above, in 2020, we’ve seen an exponential increase in activity in just the past few months alone. In this year alone, CoinEx’s daily registered users increased by 100%. These new users mainly come from markets such as the Middle East, Asia Pacific, and more.
Interestingly, we saw an uptick in traffic from the Middle East in March. User growth in Southeast Asia also picked up significantly, newly registered users increased by 133.6% in April.
With Binance, BitMex, Huobi, Bybit, and Deribit, controlling most of the crypto futures and options markets, where do you see CoinEx fitting in? How do you plan to capture market share from these large exchanges?
Eddie Jiang: We won’t compete with others. We focus on ourselves to improve products and our goal is to be better than yesterday.
Our pace is solid and steady, instead of focusing on temporary heat and flow. We have always attached great importance of spot trading, and we are committed to be responsible for users’ investment. We have set up CoinEx Institution, which is dedicated on project research. A listing committee consist of core team members review and vote on projects recommended by the CoinEx Institution. In this way, fraud projects are avoided as much as possible.
Besides, we will focus on niche areas with great potential. For example, Southeast Asia and the Middle East. CoinEx can serve users in those countries well by providing a platform with rich cryptos to trade, and will pay more efforts on refined operations in different countries.
Moreover, CoinEx has a very complete ecosystem. Financial services, infrastructure, and ecological development, the three business units complement each other. The infrastructure BU is our cornerstone and is positioned as a defensive product; the financial service BU is a cash cow and is positioned as an aggressive product; the ecological development BU focuses on the public chain ecology and is the future infrastructure.
What is the geographical breakdown of the CoinEx userbase?
Eddie Jiang: The current proportion of CoinEx’s overseas users has reached 80% of the total registered users, and mainly in Australia, Southeast Asia, North America, Middle East and South Korea.
Do you have plans to focus on any certain jurisdictions? How will you do that?
Eddie Jiang: When we evaluate regions, two things matter: policy and potential.
Whether an exchange’s business expansion in a region is smooth or not largely depends on the region’s policies. If the region is not very friendly towards cryptocurrency or has repeated attitudes, there will be more difficulties and the cost will be much higher.
For a region’s development potential, we need to think about the demand and market development status. South Korea, Southeast Asia, the Middle East and other regions are all areas with good potential for cryptocurrency development. Compared with Europe and America, policy risks in these countries are lower, and the supervision mechanism is relatively complete. The public has a high degree of awareness of cryptocurrencies. Besides, some regions or countries have inflation problems due to political and economic reasons.
CoinEx will continue to focus on the Middle East and South Asia, which are relatively niche. India has just lifted ban on cryptocurrency trading this year, and there are many cryptocurrency investors in Indian. CoinEx can serve them well by providing a platform with rich cryptos to trade. More people in the Middle East are interested cryptos, especially in countries that are subject to economic sanctions or high inflation. For those people, cryptocurrencies are one of the best choices for asset preservation.
Since the CoinEx Ambassador program launched in March, it has been almost three months. We are conducting the second round of ambassador recruitment. This time, we will use the power of ambassadors to expand our recruitment coverage and strive to attract more crypto enthusiasts from all over the world to grow together with CoinEx. Moreover, we will launch the National Expansion plan and leverage on the CoinEx and ViaBTC mining pool resources, to further explore the Russian market. At the market level, we will make more PR efforts in local markets, and start refined operations.
What is CoinEx Chain and CoinEx DEX?
Eddie Jiang: CoinEx Chain is a public chain built on the Tendermint consensus protocol and the Cosmos SDK. It consists of three dedicated public chains parallel to each other. Among these three chains, CoinEx DEX meets the most basic needs of DeFi for token issuance, transfer, and transactions. The Smart Chain is designed to meet the needs of complex financial scenarios and delivers programmable cash. The Privacy Chain facilitates privacy and security.
On November 11, 2019, we took the lead in launching the Mainnet of CoinEx DEX. CoinEx DEX is the world’s first public chain dedicated to decentralized transactions. Users can easily manage their digital assets on it.
CoinEx DEX can fully satisfy the following conditions: users have private keys at their own disposal; transfers and transactions are all completed on-chain, which is 200% transparent and checkable; the issuance, transfer, and transaction of tokens do not require review or permission; the community governance and operation is decentralized, similar to EOS, and validators are introduced to the community ecosystem construction and governance. There are currently 41 validators.
It also has extreme performance. TPS reaches as high as 10,000 and transactions are confirmed within seconds. The transaction fee, 0.0001 US dollars for each transaction, is negligible.
Third, it’s simple and easy to use. The new operation interface design helps beginners get started quickly; with the one-click token issuing module, users only need to fill in a few items to issue tokens; the built-in automated market-making module guarantees liquidity.
How will CoinEx DEX improve the decentralized exchange space that has been unable to gain much adoption?
Eddie Jiang: There are many challenges and difficulties facing centralized exchanges. The first difficulty is security. Security is a huge concern for CEXs. Over the last 10 years, hackers have stolen more than $1.5 billion from centralized exchanges. In fact, research groups estimate that hackers stole somewhere between $950 Million and $1 Billion from centralized exchanges in 2018 alone. There were also incidents of coin thefts in other exchanges in 2019. Many exchanges, such as Mt. Gox, Youbit, were forced to file for bankruptcy and shut down as a result of hacks.
The second is high management costs. Centralized exchanges need to list a large number of cryptocurrencies and each of them have different trading pairs. That entails huge efforts in development and maintenance and, thus, high management costs.
The last is global policies. Cryptocurrency is faced with different regulatory policies in different countries. Every time a centralized exchange enters a country, it needs to adapt itself to local regulatory policies for compliance. This is a holdback for the exchange’s rapid market expansion globally. Such adaptation will also bring a huge learning cost for the exchange team.
Obviously, these problems can be well solved by DEX. CoinEx DEX is a true DEX with full open source and full community governance, as well as without depending on official nodes, websites, wallets, etc. On DEX, users are able to in charge of their own private keys and assets all by themselves. Their assets are more safe and secure. Transfers and transactions are all completed on-chain, which is 200% transparent and checkable; and the issuance, transfer, and transaction of tokens do not require review or permission. What’s more, CoinEx DEX provides a great and convenient user experience.
How will CoinEx Chain and DEX help the crypto industry as a whole?
Eddie Jiang: The public chain is the cornerstone of the blockchain industry. CoinEx Chain has the parallelism of multiple dedicated public chains, each of which performs its own functions, by cross-chaining for both high performance and flexibility.
CoinEx Chain is committed to building the next generation of blockchain financial infrastructure. It is a more complete ecosystem built around the DEX public chain. The DEX public chain is a dedicated public chain developed specifically for token issuance and trading and the biggest improvement on trading speed, so it only supports the necessary functions, not smart contracts.
But smart contracts are the foundation for building more complex financial applications. Outside the DEX public chain, CoinEx Chain also includes a Smart Chain that supports smart contracts.
Moreover, as privacy issues on the current blockchain have been criticized, it is one of the core tasks of CoinEx Chain to safeguard users’ privacy. Similar to the Smart Chain, the Privacy Chain specifically supports transaction privacy protection. With cross-chain circulation, it can improve the privacy characteristic of the entire CoinEx Chain ecosystem.
Nowadays, 1.7 million people in the world have no bank accounts; however, among them, two thirds are smartphone users with huge demands for financial services. The public chain will empower DeFi applications’ development and popularization, not only help more companies to seize the huge market opportunity, but also to bring lasting transformations and improvements in people’s lives.
With so many crypto exchanges, what is the future outlook of CoinEx when it comes to the crypto exchange space?
Eddie Jiang: It has been nearly 3 years since CoinEx has been launched, but it’s quite young for an entrepreneurial team. We have seen too many projects’ failures due to governance issues. CoinEx has a very elite team with high technical and management capabilities. In terms of business, CoinEx has gradually developed with diversified business and a complete ecosystem. It’s clear that the market will still grow very fast in the future, and the market size is still very large. We will continue to improve our products, put more efforts in marketing and operations, as well as look for more high-quality projects, to increase the number of users and transactions on the platform. Lay a solid foundation, and I’m sure the time will come for us to shine.
What updates is the CoinEx team most excited for?
Eddie Jiang: We are very excited about the National Expansion Plan which will be launched later this year. It is an important part in CoinEx’s globalization strategy. We will actively explore some new markets while consolidate the original ones. CoinEx will set aside 10 million US dollars to set up a “Pioneer Fund” to support this plan. This fund will be used to support local cryptocurrency projects and promote the development of the local cryptocurrency communities through investment or cooperation. Our goal this year is to invest in projects and communities that are conducive to expanding the CoinEx ecosystem in countries with high development potential.
Original article
Click HERE to register on CoinEx
submitted by CoinExcom to btc [link] [comments]

The Truth about Bitcoin?

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

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

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

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

About BingoEx

BingoEx is the world's leading blockchain asset trading platform. It has passed the four-country certification (USA, Canada, Singapore, Seychelles) to take advantage of technological advantages and top-notch products and services to provide customers with the most comprehensive, secure, convenient and professional digital currency field. Asset management and value-added services.

BingoEX now has more than 50 elite teams of technology and financial security, proficient in the operation and risk control process of blockchain digital assets. The secure storage of digital assets is our top priority. The system uses multiple underlying security technologies and has cooperated with multiple blockchain security service platforms to greatly improve the security of digital currency transactions.

BingoEx provides a multi-language version to provide peer-to-peer transactions with fiat currencies for mainstream digital currencies such as Bitcoin and Ethereum, and independent digital assets; independent digital assets provide deposits, withdrawals, and matching; and provide multiples of 10, 20, 100, etc. With leveraged margin trading, positions do not need to be delivered and can be held forever!
submitted by cotter506 to bingoex [link] [comments]

The Truth about Bitcoin?

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

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

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

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

Where can I post this to get the discussion about it that I’m aiming for? I’ve already been permanently banned from threads and this is only my 5th post ever. I just want thoughtful discussion on important topics.

Save yourself some time and don’t read this. You’ll never get it, unless you do. In which case I hope you enjoy and think about what I’ve said. You may not agree with it all but you can’t deny it all either. The problem is that I’m right. So am I saying I think the vast majority of the world is wrong and I am right? Yes. It’s not easy to be right when most everyone else is wrong. You’re constantly misunderstood or dismissed. No I haven’t lost it. I’m totally sane. Maybe the most sane I’ve ever been. That probably sounds crazy and maybe it is but if this is crazy I don’t ever want to be sane again.
It’s all of it. It’s not just black or white it’s gray. It’s a mix of the major competing ideas and a cherry picking of the best of those ideas. It’s the new ideas that keep up with our time. There-in lies the solution to our problems. Compromise and use the best parts of the major competing ideas not just one or the other. Think about healthcare. We need both a public and private option. We can’t have just one. We need both. A public option for the poor or disenfranchised and a private option for the wealthy and those who can afford to get private insurance. Wet markets and factory farming will be the death of us if we don’t outlaw that shit worldwide as soon as possible. Yes this means less meat in our diets. Look at the data. This is actually good for us. Take climate change. We can’t just stop using fossil fuels tomorrow. We need to phase them out while figuring out how much we can burn without negatively effecting our environment and then allowing the poorest countries to continue using fossil fuels in the interim while they grow their economies to prearranged milestones where they must phase in renewables. Take capitalism. Our society’s trade platform. It must be a mix of capitalism with restraints and restrictions strategically implemented to thwart the worst parts of greed, corruption and pollution. Along with a public option for healthcare and education. It’s socialism and capitalism meshed together. Republican or Democrat? We need a third option. The ruling party. The party that uses the best parts of both ideas and dumps the junk bunk bullshit that drags us down. The tie breaking vote cast in favor of either side, whenever it is they happen to have the better idea. This ruling class is called the Digerati. Not my term. They need to be the deciding voice of reason because they see the world for what it is. They are already silently leading the world. They are the Facebooks the Googles the Microsofts the Ubers the Teslas. I could go on. The Expedias the Amazons, you get the point. They have seen that digital technology trumps old analog technology in almost every industry. They have come in and dominated the old with the new. Taking voting for instance. We need to offer all viable options to increase voter turnout and opportunity. That means in-person, mail-in, Internet, and smartphone via blockchain. Putin will rule us all if we don’t band together against him. Hopefully I’m wrong there and his overreach will be the death of him, but that’s for time to tell. It’s not just religion or atheism and nothing in between. It’s spirituality. No not the traditional Christian soul “spirit” bullshit. Nothing supernatural in the standard sense. It’s the interconnectedness of everything down to a basic atomic level that binds all things. The problem also lies in our broken criminal justice system and the for-profit prisons that lobby to keep it that way. It’s the NRA and the gun lobby stopping us from having common sense gun law and closing the purchase and tracking loopholes. It’s the corrupt gang of thugs called the police who kill innocent people on the regular with seemingly no ramifications. It’s the irrational and crooked stock market putting this false face on the economy but we don’t have any other simple numbers to base the complexity of the economy on so we deal with it. We let these Wall Street crooks live in their ivory towers laughing at us. Selling us bits of 1’s and 0’s in the cloud somewhere that we never actually own. If we did they’d give us all our proportion of the profits equivalent to the shares we own. It happens but rarely. It’s just as bullshit as the concept of paper money backed by the Fed and nothing else. Even gold, what’s that worth anyway? Seems to me something is only worth its weight in what it can do or provide. Gold has its uses and therefore has value but it’s still an inflated illusion. Not that bitcoin isn’t based on a similar illusion but it’s far superior to paper money. More important than just bitcoin is the blockchain technology itself. This is going to change the way we do everything. All the big companies and leaders already know what’s coming. It’s going to change banking, voting, critical infrastructure security, contract law, stock trading, real estate, healthcare, supply chain management, music and entertainment property rights and IP etc etc etc. I could list 40-50 major industries that will be impacted in a huge way by blockchain. All technology is growing faster and faster. Exponentially so. So fast we can’t comprehend it. The growth of AI and the invention of bitcoin are changing the world so fast you can’t even see it. My point is it’s all going to change very fast. This country is not long for this world if we don’t make some massive changes, and I mean quickly. No more assholes like Trump ever can be elected to such high offices. Never let the stupid overtake the enlightened again because of technicalities. All these crooked politicians need to go to jail. For life. To set the example for all time. This bullshit will not be tolerated. The Constitution has failed us. Just look at the dysfunction in the Congress and Senate and now the White House. We’ve had some clowns in office before but nothing this extreme. China is going to overtake the USA in digital and cryptocurrency as they are embracing the technology far more. Bitcoin is coming for your wallets so you better get onboard or get left behind. New digital millionaires and billionaires are being minted daily. The world is becoming increasingly more dangerous every day. The poor and the left-out are growing in numbers and it’s only going to get worse. Those who can see, I mean truly SEE what’s going on, will rule the world. Those who don’t see it will be pushed further and further down out of the middle class and into poverty. This is going to create great disparities of wealth beyond anything the world has seen in quite some time. Think India’s caste system on steroids. So what can we do? We can embrace the future. We get as much bitcoin as we can get our hands on as soon as possible before only the elite have access to one whole bitcoin. Don’t pick up the scraps. Make your own way now. Don’t let the asshats rule the world. The Trumps the Putins the Bolsonaros and the Boris Johnsons of the world can’t be left in power. They are destroying everything we know and love. There are major political changes happening right now that will negatively impact all of our lives. They are the fault of McConnell, Trump, all the judges he’s appointed, and the entire Republican establishment. The Democrats are only marginally better. We need to throw out our failed institutions and start over with lessons learned. We need to actually make a real separation of Church and State. No more muddy water. No more bullshit child rape organizations like the Catholic Church allowed to claim tax free status and then take PPP Loans from our tax dollars. If they are a business that can receive PPP then they can be taxed like one. And why isn’t the Pope in jail. If I was the lead architect for covering up thousands of child rapes you can bet your ass there would be an international warrant for my arrest but instead he’s treated like a top celebrity and revered by some as next to “God”. There is a better way. Now is the time to move forward with plans to right the ship. Arguably there has never been a better more apropos time than now. This pandemic has pushed our country to the brink of failure. We also probably need to think about a backup plan. A plan to create a new country with those who understand what’s really happening. I’m not sure what exactly that looks like. Maybe we secede California or Texas from the union. Maybe we let Bezos buy an African country and pay all of its citizens handsomely to leave. Then from there we start a new world order. Yes, I said new world order. The term we’ve all been taught to fear our whole lives. What does the status quo have to be so scared of that it’s brainwashed us all to be scared at the mention of a new world order. That idea is obviously huge and has its own complications. I’m not talking about microchipping everyone either. I’m talking about real freedom. We’ve given up our liberty in pursuit of safety. We given up honest governance in place of partisan wins. I don’t pretend to know the ultimate answer to all things. Just the formula. There are multiple possibilities. I don’t think there is only one way to skin this cat. We can get to the same outcome via many routes as long as the mission is clear. Do what makes the most logical sense and will actually work verses what is politically expedient. Be the solution.
submitted by imenotu8 to deepdiscussions [link] [comments]

Issuing money by global central banks is a great opportunity for stablecoins," says Digital Gold Advisor Dr. Walter Tonetto

Issuing money by global central banks is a great opportunity for stablecoins,
Last week we talked with our adviser and CEO at Nusantara Trust Dr Walter Tonetto. He answered a number of questions that interest our customers.
How did you land in the cryptocurrency / blockchain space?
I was advising startup businesses in the technology space, and when 2016 came around, I asked Scotty, the feisty chief engineer of the U.S.S. Enterprise, to beam me into the heart of the finance system; I felt more and more the irresistible tug towards remodeling the current toxic financial system. Purposive remodeling, of course, is going on all the time, and it’s a knife that cuts into two directions. The vast majority of the ‘woke’ crowd actually believe that they can ‘disrupt’ the power of the elites that control all money flows. Bathing limestone statues – registering about 4 on the Mohs scale and 0 on the scale of reason -- of past leaders in district waters may give you a feeling of breathing the air of revolution and tiring unknown muscle-groups in your shanks, but think of it like a father watching his child toss around shovels of soil in a sandbox; he smiles benignly from afar, knowing it won’t change a thing; all the luxurious appointments at home won’t get touched. It is a grave illusion to suppose that by playing around with payment systems and technologies we will actually change the role and the emission of money. You may be permitted to become the shoe-shine boy in the royal household, but don’t think you will marry the princess and dilute the royal blood! But understanding the constitutive parts of power aggregation, and working over significant time-frames, allows for approaches and solutions; -- but these should come not from another adversarial position, thus merely marking a displacement of the incumbent, a change of guard, but from an authentic re-orientation, of making benefits much more widely possible and not creating monetary systems that are grossly imbalanced and highly destructive. That, and not building tech stacks, is the challenge!
What was your initial reaction to bitcoin?
Well, I was following the file-sharing service Napster since it started, around 1999 – when the U.S.S. Enterprise was sitting pier-side at Huntington Ingalls Newport shipyard, rusted and gutted, and to me the P2P sharing paradigm was always present in my mind, shining buffed and radiant, so even the centralized Napster was something wholly natural to me – Dr Sheldrake calls it morphic resonance. We live with a great deal of blurriness, though. On the one hand, we think of the virtues of sharing; on the other, there is a seemingly indefatigable impulse to control and dominate. Sean Parker, after founding and floundering with Napster, became a cocaine-snorting egotist and president of Facebook. Collecting money for a charity, he gets aggressive with people who do not follow suit. A control-freak in overdrive. Notwithstanding the technical variations, BTC, seemingly freeing us up from fiscal controls and yet showing our craving for money, exemplifies the flawed perception at the root of things. Monero, which sounds like a much faster, highoctane vehicle, a CV8-Z of the crypto-track, beats BTC in regard to privacy and fungibility, though BTC has advantages in other areas.
Which is a much more common trend nowadays?
It’s hard to make out the shapes of wild-life in the current kangaroo market we’re in. The bulls and bears have mauled one another, and the kangaroo, bereft of oxygen on account of wearing a tight mask, is hopping wildly everywhere. But clearly the possibilities of digital currencies became un-tethered via Bitcoin and the querulous and hidden Satoshi. I like to think of him more as an idea rather than as a person; an idea is generally more malleable and consequential. For instance, rather than laud the benefits of crypto for FX and cross-border payments, the possibilities of a central-bank issued digital currencyENCOMPASS THE POTENTIAL to inscribe new roles for programmable money; for how money is issued, how it is used, and what role custodial mechanisms (traditionally in the hand of commercial banks) might have. I see HUGE potential for private firms to enter the equation here, but we need more open-minded and intelligent regulators that do not always look for the rungs of the career-ladder in any move they make! A DAO could be most helpful here, but we are currently under the terror of algorithms that are not concerned with the welfare of the greatest number of people. If I had the time I would coauthor a book on this theme with a skilful mathematician (perhaps with my son, who is completing a Ph.D in near-term Quantum Algorithms).

In 2018 I was keynote speaker at the BlueWhale forum in Seoul, and I spoke about an Algorithm of Peace. I had a clutch of people approach me straight after the talk, some from Korea, others from the U.S., and ask me to develop my ideas in book form.
Where do you see the price of bitcoin going over the next few years?
I wouldn’t speculate, but since everyone is shilling it, it is bound to keep pushing north, occasional blockages otwithstanding. I always look for twists and incongruities in the usual narratives on offer. Many BTC fans talk about the unbanked, but BTC is held by what will become another elite in due course, and the unbanked will later be serving them the chilled drinks between innings, as usual.
Do you think that there’s a time for altcoins to break out and move away from the movements of bitcoin? What’s that tipping point that needs to take place?
I have some notions under which alt-coins can take the lead and leave bitcoin behind, but it’s too complex to explain the conditions for that to occur. Once very solid use-cases have been established with a clutch of alt-coins, bitcoin might begin quavering in his boots. That alt-coins should take BTC as a benchmark speaks volumes about the lack of maturity of this young and over-eager market. The fuzzy umbilical cord is always present like a foot-tangle; alt-coins must find their own ground, and clip the connection to a vagrant father. Finance needs clarity and not fuzziness. Keep in mind that many sovereign nations bridle at the calamitous influence of the US on payment systems, so nations are building their own messaging systems outside SWIFT, and their own securities exchanges are following. But remember: these are all crumbs: the U.S. can shut down payments to any recipient accounts by informing the payments company and doling out threats. And since all alt-coins and fiat currencies are connected to payment gateways in some form, the U.S. would have to begin reforming its archaic ACH structure to enable efficiencies in the financial pipes, which does not offer real-time payments functionality. This accounts for the relative simplicity (and success) of the PayPal business model (which Venmo and Dwolla later emulated without using credit cards). But understand that the elites will always protect the real crown jewels, and incite wars (or street battles and racial squabbles, as we’re witnessing in the U.S. in mid 2020) so that they can get away with major financial heists in broad daylight. It’s all smoke and mirrors, and scorched talons if you look closely: you cannot trust the reflection you will receive on a smoky pane. Only the big players know the predetermined outcome.
One fundamental misprision occurs amongst alt-coin apologetes: they fail to understand how markets move and what the designated role of money is in markets. Even if you want to displace something, you first need to understand exactly what you’re dealing with, but that is rarely the case. Yes, banks are structurally and constitutionally part of the problem, but no government will dare cross swords with them: there is still too much aggregated power. Ripple and Stellar are two Blockchains that are working with, and not against, banks, and that likely makes them much better candidates for wide acceptance.
What’s one must-read book you recommend to everyone?
That depends so very much on who’s sitting opposite me! I wouldn’t push what is not naturally aligned. But I would push a couple of films urgently, as essential viewing for everyone:
“Vaxxed: From Cover-Up to Catastrophe” (and a sequel), which profoundly shocked me, but confirmed my suspicions. Talking about books: one gets a good sense of the kind of books I would counsel people not to touch, unless an overweening impulse bade them otherwise. For instance Steve Pinker, a favourite author of Bill Gates. Pinker in Gates’ hands explains a lot about the character of the reader, the latter of whom I consider one of the most dangerous people on the planet at the moment. If we stay with Pinker for a moment, since he’s famous and fashionable (Harvard professor with a Medusa hairdo and an effete libertarian air, who in “Better Angels of Our Nature” has affirmed that man is not innately good), we note in his presentation in regard to his ineptly titled book “Enlightenment” that he falls prey to the very flaws he chastises, the classic Münchhausen trilemma (in Jakob Fries’ phrase). Picture Baron Münchhausen pulling himself out of quicksand by his own hair! That he is beholden to neoliberal befuddlement becomes clear when two of the opening images of his talk show Vladimir Putin with a rifle andDonald Trump speaking on a podium. The classic neoliberal Harvard think-tank shows reason to be failing and drowning in pious gestures to the cognoscenti and anointed. I like to look for effective counters for specious and shallow argument: for instance, Rupert Sheldrake’s “The Science Delusion” is a splendid book that bucks the Dawkins’, Pinkers and other materialists of this age. You see, if one listens to Pinker with the head alone, his pedestrian epistemology might not irk, and some ideas might appear plausible enough in a desultory encounter, but if you really want to know the meaning of things, and discover how it relates to the heart, you feel betrayed and given short shrift by him. Among the platitudes he gives out in carefully parsed syllables, the movement of his forehead and eyes betray the spirit behind the façade. Yet I always look, like Yeats, for those who “had changed their throats and had the throats of birds”!
What’s the rainbow trout of the year? Nut-like flavour, the eye still gleaming, with tender, flaky flesh? There are many books I could cite for different genres. The vast majority of modern writers, for all their accomplishments, lack genius, don’t really understand the art of writing, and so cannot hold my attention for long. For those who are open-minded and spiritual, “A Course in Miracles” cannot be bested, but don’t touch it unless you’re really willing to dive deep. There is no need to save the world, since it is nothing but projection; there is no world. You might experience the deepest sigh of relief, as if Atlas had cast off a burden after the Titanomachy. Paul Celan once remarked that “reality is not simply there, it must be sought for and won.” Snorkeling near the surface and blowing bubbles won’t cut it.
We are living in times of great manufactured unrest, which will only heighten in coming months and years, and so I would offer a guernsey to Seamus Heaney. I had met him many years ago, alas cursorily, at a symposium at Waseda University where I was working as a Gaikokujinkoshi, an Associate Professor, where another Nobel laureate, Kenzaburō Ōe and he were giving a reading. Heaney was inspired to write “The Grauballe Man” on the basis of the bog man that he had seen in a book of prehistoric times, but the troubles in Ulster were alive in him, too:
As if he had been poured in tar, he lies on a pillow of turf and seems to weep
the black river of himself. The grain of his wrists is like bog oak, the ball of his heel
like a basalt egg. His instep has shrunk cold as a swan’s foot or a wet swamp root.
Talking of Japan here, methinks, is an aculeate observation of Japan:
Cross the intersection at Shibuya Station in Tokyo on a forbidding wintry evening — touted as the world’s busiest cloverleaf — and you will feel this is Eliot’s London Bridge revisited, with quaggas (think half zebras) preserved in the tar of the five crossings; — flattened ebon bones dreaming the dreams of Pleistocene mammoths — as the mass of the dead mill past you, chasing some mirage, and often accompanied by a revenant that must have been disgorged from a Pachinko parlour. Blanched lilacs float in minarets of light beyond these bituminous quaggas, bidding the odd-toed ungulates in their psychotropic dernier cri and fuddy-duddies in theirstygian suits to sup here or buy over yonder: all tethered to their devices. One might be surprised that no cracks are forming at these arced crossings with strange requisitions folding into the hiemal air. And yet it is still more odd that so few people see this as a primped and pimped potter’s field, a graveyard for those who’ve lost their way. We’re living in an age where the multitude of the dead are pacing among us in perdurable trysts with other zombies.
The above text is from one of my unpublished works; again it speaks to me – and perhaps to you – about the quiddities of this age. There is a distinct sense of zombification taking place on the planet at the moment. Is your lineage that of Dolly, or are you magnificent and free?
Do you have any theories about who Satoshi is?
I don’t really, though I follow the haughty chit-chat at times, especially in the jejune forums LinkedIN provides. I think the person has a good reason to remain concealed (forever), but that is also a major factor why I have never fully trusted bitcoin as an investment proposition.
Keeping the provenance concealed suggests a number of things, none of them conducive to embracing bitcoin as a common form of payment.
What do you think about the prospects of gold in connection with the uncontrolled money printing by different Central Banks?
Gold is what BTC can never become, especially when its provenance remains totally unclear – as well as its likely endgame! Central Banks engage in quasi-criminal activity – and one hopes the future prudent regulator won’t be making it too difficult for people to hold gold bullion. The Perth Mint might be a splendid little dot on the global map, but beware of holding your assets in the form of gold coins: many governments will regard them as forms of payment, and may impose all manner of restrictions on the possession of it.
Let's dream a little. How stablecoins can be used after 5 years from now?
I believe the great RESET is coming – even Davos and the U.N. are alerting us to that. The Covid19 panic has been declared by more than 1500 German physicians as a “global Mafia-style deception”, and while Big Pharma and Bill Gates will likely earn trillions of dollars by the useless and potentially dangerous vaccines that will be foisted on “free” citizens, the finance system as a whole will need to be RESET. We are already receiving an inkling of how draconian and void of reason and concern for the people most governments of the world are reacting to a harmless lab-manufactured virus (virologist Prof Luc Montagnier, Nobel Laureate in medicine in 2008, said that), so it’s possible that regulators may become more tyrannical, and under some pretext or other forbid the use of alt-coins. STABLECOINS can be over-collateralized, allowing absorption of pricing fluctuations, but it will be hard to call. I believe many are bound to fail, and that even earlier, despite all their most valiant efforts: as soon as the RESET comes, which is likely to come with all manner of encumbrances. There are many reasons for the issuance of stablecoins, some having opposing views, but all are dependent on trust – and we don’tknow yet if digital currencies that governments will issue will by regulatory over-reach (including absurd compliance requirements) displace other contenders, but you can assume that the tyrannical forms of governance we are currently experiencing suggest that all kinds of skullduggery are possible.
Do you see the problem of fiat stablecoins in the fact that annual inflation constantly depreciates them? An investor who bought $1000 USDT now and sold these tokens in 10 years for $ 1000 will receive much less money.
The problem occurs if we’re converting things back into payment forms that are fundamentally flawed. Inflation and Black Swan events are the major threats to stablecoins, and tethered crypto-values to natively burdened propositions recalls my earlier idea that we have not yet cut the umbilical cord to bitcoin. On the other hand, stablecoins in their current flavour are perhaps best viewed as transitional schemata that will need later revisitation.
You are a very successful Crypto and ICO Advisor, what is the secret behind this success?
I’m not sure if I’m very successful, but I always try to shoot a straight ball. Here are two instances where my input has not been heeded in any way.
I recall one of the first ICOs I advised. I was sitting with the owner on a Telegram Channel, and after some power Q&A sessions online, we were literally hearing the millions of dollars tumble in neat digital hashes into the inbox within a couple of hours of the ICO opening. He had a bottle of Scotch on his table, and by the end of the session he had reached his hard cap and was besotted to boot! The age of digital money had placed the foolscap on his pate, but the script was no longer legible. I cannot determine if his sobriety ever returned. The prudential advice I had been giving him previously – and that we had discussed in great depth -- was over coming weeks thrown out of the window, and I assume other bottles of Scotch ended up on his desk and didn’t last long.
Here is another example. At one time a well-known ambitious individual in the U.S. cryptospace, a young lawyer, asked me if I wanted to start a crypto compliance organisation with him.
When I think of him now and the feathery assistants he congregated around him, I think of the lines in Dickens’s “Bleak House”: “Mr. Tangle’s learned friends, each armed with a little summary of eighteen hundred sheets, bob up like eighteen hammers in a pianoforte, make eighteen bows, and drop into their eighteen places of obscurity.”
Simply to continue serving wine from the same sour vats won’t do. I saw that as a prospective idea, and offered some important advice to get the ball rolling. Soon we had recruited many eager beavers to the exercise, and there was talk of it becoming an influential body. I was naïve enough to assume at the time that my co-founder, a black college asketballer with body tattoos who had a write-up in a major paper on account of his ambition and aggression, was actually interested in asking some fundamental revisionary questions about compliance in relation to the freedom of the citizen. When I suggested we don’t just copy the traditional compliance template and rather probe more deeply, he became insolent and very aggressive. That confirmed my instinct that most ambitious players in the crypto-space are actually dyed-in-the-wool bourgeois, and don’t care about improving the system itself.
What is your advice for upcoming Crypto startups and investors?
You might know the technology well, but do you know the business? Does it really deeply address, even solve, a problem? How much life experience do you have, and how well do you know the market? Can you create a market for your product or services? If yes, how will you do that? Have you only got yes-men around you, or are you willing to listen to those who speak Tacheles to you? If you’ve come to water the plant of your ego, your business will flounder. Most achievers keep their ego initially in check, and get the work done.
For investors the answer I would give is rather complex, but here’s a brief response: often the mandate of investors is very narrowly girded, and they trust their old boy networks, and rarely venture out and follow their instincts. That is foolish, and also the recipe for a dull life.
Perhaps a general observation that everybody might ponder with profit is the idea that we know really so very little of the world; that the news and information we are are offered and digest, even when it is tendered by so-called ‘experts’, is often seriously ignorant. It seems our perspective is getting narrower all the time, as if our mind is shrinking and we block out knowledge.
Let me give another current reference point. In 2020 everyone is fearful of viruses. Viruses currently have a bad rap! We have no idea what they actually are. We are always hobbling around with our fearful partisan gaze, and what is good today becomes bad tomorrow. Yet viruses are adroit and malleable messengers of inter-species DNA, in some sense regulating vast populations of organisms. Think of them as cellular simpletons: mere protein shells with few genes, but endowed with the ability to replicate easily despite their paucity of genetic instructions! They form alliances, you might say, with other forms of life. And they are deeply mysterious to our acquisitive and ignorant segmenting intelligence: how can the papillomavirus cause horns to grow on rabbits; and at the same time cause hundreds of thousands of cases of cervical cancer every year? Is one good and the other bad? It would seem so. Such simple summary, like Pinker’s reductionist view of the world, might becalm for a moment, but does not offer lasting satisfactions. To read the world along the axes of like and dislike, as the Buddha had warned us, leads to great suffering.
I’m told by someone who met Bill Gates a long time ago that the man was apparently even then obsessively fearful of viruses (imagine a pendant to Lady Macbeth, continually cleansing his hands). But do we have any clue what viruses actually are, and how they benefit us all in so many incalculable ways? When the child crawls around, it picks up antigens (bacteria and viruses) and on that basis builds its immune system. At various points of that contact and exchange new forms grow, and other forms decay and die. Like CO2, viruses are suddenly declared dangerous and that we need to shield ourselves against them. Yet how many people know that marine phages rule the world, and rule the sea? This was not discovered until 1986. An electron microscope showed that every litre of seawater contained up to one hundred billion viruses, almost as much in dollars as BillGates expects to make off vaccines in 2020. If you put these viruses end to end, they would stretch out forty-two million light-years! Viruses offer stunning genetic variety, and they are the very pulse of life! When viruses swallow oceanic microbes, they release a billion tons of carbon every day: imagine squalls of marine snowfalls, powdering the porous sand of the deep. Imagine the white nights of St Petersburg under water, celebrating the magic of life with the same skill and abandon as the Mariinsky Theatre, to an audience of gastropods, deep-water fish and lovelorn mermaids.
Seamus Heaney, when he passed in 2013, spoke the word Noli timere (“Do not fear”) to his wife as he breathed his last. Instead of being fearful, we might do well to assert that we understand nothing of the manifold wonders of this world! Let us cultivate the virtue of wonderment, and fear will find no habitation in our house:
And lonely as it is that loneliness Will be more lonely ere it will be less— A blanker whiteness of benighted snow With no expression, nothing to express.
They cannot scare me with their empty spaces Between stars—on stars where no human race is. I have it in me so much nearer home To scare myself with my own desert places.
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]

Where can I post this to get exposure and feedback? I’ve been banned from big threads already and this is my 4th post on Reddit ever. I just want to start the discussion.

Save yourself some time and don’t read this. You’ll never get it, unless you do. In which case I hope you enjoy and think about what I’ve said. You may not agree with it all but you can’t deny it all either. The problem is that I’m right. So am I saying I think the vast majority of the world is wrong and I am right? Yes. It’s not easy to be right when most everyone else is wrong. You’re constantly misunderstood or dismissed. No I haven’t lost it. I’m totally sane. Maybe the most sane I’ve ever been. That probably sounds crazy and maybe it is but if this is crazy I don’t ever want to be sane again.
It’s all of it. It’s not just black or white it’s gray. It’s a mix of the major competing ideas and a cherry picking of the best of those ideas. It’s the new ideas that keep up with our time. There-in lies the solution to our problems. Compromise and use the best parts of the major competing ideas not just one or the other. Think about healthcare. We need both a public and private option. We can’t have just one. We need both. A public option for the poor or disenfranchised and a private option for the wealthy and those who can afford to get private insurance. Wet markets and factory farming will be the death of us if we don’t outlaw that shit worldwide as soon as possible. Yes this means less meat in our diets. Look at the data. This is actually good for us. Take climate change. We can’t just stop using fossil fuels tomorrow. We need to phase them out while figuring out how much we can burn without negatively effecting our environment and then allowing the poorest countries to continue using fossil fuels in the interim while they grow their economies to prearranged milestones where they must phase in renewables. Take capitalism. Our society’s trade platform. It must be a mix of capitalism with restraints and restrictions strategically implemented to thwart the worst parts of greed, corruption and pollution. Along with a public option for healthcare and education. It’s socialism and capitalism meshed together. Republican or Democrat? We need a third option. The ruling party. The party that uses the best parts of both ideas and dumps the junk bunk bullshit that drags us down. The tie breaking vote cast in favor of either side, whenever it is they happen to have the better idea. This ruling class is called the Digerati. Not my term. They need to be the deciding voice of reason because they see the world for what it is. They are already silently leading the world. They are the Facebooks the Googles the Microsofts the Ubers the Teslas. I could go on. The Expedias the Amazons, you get the point. They have seen that digital technology trumps old analog technology in almost every industry. They have come in and dominated the old with the new. Taking voting for instance. We need to offer all viable options to increase voter turnout and opportunity. That means in-person, mail-in, Internet, and smartphone via blockchain. Putin will rule us all if we don’t band together against him. Hopefully I’m wrong there and his overreach will be the death of him, but that’s for time to tell. It’s not just religion or atheism and nothing in between. It’s spirituality. No not the traditional Christian soul “spirit” bullshit. Nothing supernatural in the standard sense. It’s the interconnectedness of everything down to a basic atomic level that binds all things. The problem also lies in our broken criminal justice system and the for-profit prisons that lobby to keep it that way. It’s the NRA and the gun lobby stopping us from having common sense gun law and closing the purchase and tracking loopholes. It’s the corrupt gang of thugs called the police who kill innocent people on the regular with seemingly no ramifications. It’s the irrational and crooked stock market putting this false face on the economy but we don’t have any other simple numbers to base the complexity of the economy on so we deal with it. We let these Wall Street crooks live in their ivory towers laughing at us. Selling us bits of 1’s and 0’s in the cloud somewhere that we never actually own. If we did they’d give us all our proportion of the profits equivalent to the shares we own. It happens but rarely. It’s just as bullshit as the concept of paper money backed by the Fed and nothing else. Even gold, what’s that worth anyway? Seems to me something is only worth its weight in what it can do or provide. Gold has its uses and therefore has value but it’s still an inflated illusion. Not that bitcoin isn’t based on a similar illusion but it’s far superior to paper money. More important than just bitcoin is the blockchain technology itself. This is going to change the way we do everything. All the big companies and leaders already know what’s coming. It’s going to change banking, voting, critical infrastructure security, contract law, stock trading, real estate, healthcare, supply chain management, music and entertainment property rights and IP etc etc etc. I could list 40-50 major industries that will be impacted in a huge way by blockchain. All technology is growing faster and faster. Exponentially so. So fast we can’t comprehend it. The growth of AI and the invention of bitcoin are changing the world so fast you can’t even see it. My point is it’s all going to change very fast. This country is not long for this world if we don’t make some massive changes, and I mean quickly. No more assholes like Trump ever can be elected to such high offices. Never let the stupid overtake the enlightened again because of technicalities. All these crooked politicians need to go to jail. For life. To set the example for all time. This bullshit will not be tolerated. The Constitution has failed us. Just look at the dysfunction in the Congress and Senate and now the White House. We’ve had some clowns in office before but nothing this extreme. China is going to overtake the USA in digital and cryptocurrency as they are embracing the technology far more. Bitcoin is coming for your wallets so you better get onboard or get left behind. New digital millionaires and billionaires are being minted daily. The world is becoming increasingly more dangerous every day. The poor and the left-out are growing in numbers and it’s only going to get worse. Those who can see, I mean truly SEE what’s going on, will rule the world. Those who don’t see it will be pushed further and further down out of the middle class and into poverty. This is going to create great disparities of wealth beyond anything the world has seen in quite some time. Think India’s caste system on steroids. So what can we do? We can embrace the future. We get as much bitcoin as we can get our hands on as soon as possible before only the elite have access to one whole bitcoin. Don’t pick up the scraps. Make your own way now. Don’t let the asshats rule the world. The Trumps the Putins the Bolsonaros and the Boris Johnsons of the world can’t be left in power. They are destroying everything we know and love. There are major political changes happening right now that will negatively impact all of our lives. They are the fault of McConnell, Trump, all the judges he’s appointed, and the entire Republican establishment. The Democrats are only marginally better. We need to throw out our failed institutions and start over with lessons learned. We need to actually make a real separation of Church and State. No more muddy water. No more bullshit child rape organizations like the Catholic Church allowed to claim tax free status and then take PPP Loans from our tax dollars. If they are a business that can receive PPP then they can be taxed like one. And why isn’t the Pope in jail. If I was the lead architect for covering up thousands of child rapes you can bet your ass there would be an international warrant for my arrest but instead he’s treated like a top celebrity and revered by some as next to “God”. There is a better way. Now is the time to move forward with plans to right the ship. Arguably there has never been a better more apropos time than now. This pandemic has pushed our country to the brink of failure. We also probably need to think about a backup plan. A plan to create a new country with those who understand what’s really happening. I’m not sure what exactly that looks like. Maybe we secede California or Texas from the union. Maybe we let Bezos buy an African country and pay all of its citizens handsomely to leave. Then from there we start a new world order. Yes, I said new world order. The term we’ve all been taught to fear our whole lives. What does the status quo have to be so scared of that it’s brainwashed us all to be scared at the mention of a new world order. That idea is obviously huge and has its own complications. I’m not talking about microchipping everyone either. I’m talking about real freedom. We’ve given up our liberty in pursuit of safety. We given up honest governance in place of partisan wins. I don’t pretend to know the ultimate answer to all things. Just the formula. There are multiple possibilities. I don’t think there is only one way to skin this cat. We can get to the same outcome via many routes as long as the mission is clear. Do what makes the most logical sense and will actually work verses what is politically expedient. Be the solution.
submitted by imenotu8 to DeepConversation [link] [comments]

Bitcoin and Meritocratic Capitalism

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

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

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

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

The Truth about Bitcoin?

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

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

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

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

Today's Pre-Market News [Wednesday, February 12th, 2020]

Good morning traders and investors of the wallstreetbets sub! Welcome to Wednesday. Here is your pre-market news this AM-

Today's Top Headlines for Wednesday, February 12th, 2020

STOCK FUTURES CURRENTLY:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

YESTERDAY'S MARKET MAP:

(CLICK HERE FOR YESTERDAY'S MARKET MAP!)

TODAY'S MARKET MAP:

(CLICK HERE FOR TODAY'S MARKET MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S S&P SECTORS:

(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS WEEK'S ECONOMIC CALENDAR:

(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)

THIS WEEK'S UPCOMING IPO'S:

(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)

THIS WEEK'S EARNINGS CALENDAR:

(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)

THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)

EARNINGS RELEASES BEFORE THE OPEN TODAY:

(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)

EARNINGS RELEASES AFTER THE CLOSE TODAY:

(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #2!)

YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)

YESTERDAY'S INSIDER TRADING FILINGS:

(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)

TODAY'S DIVIDEND CALENDAR:

([CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!](https://i.imgur.com/ifUy0wj.png)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)

THIS MORNING'S MOST ACTIVE TRENDING TICKERS:

  • SHOP
  • TEVA
  • CVS
  • LYFT
  • ROKU
  • BBBY
  • MRNA
  • CYBR

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
CVS Health (CVS) – The drug store operator beat estimates by 5 cents a share, with quarterly earnings of $1.73 per share. Revenue also beat forecasts and CVS gave a full-year EPS outlook of $7.04 to $7.17, compared to a consensus estimate of $7.15 a share.

STOCK SYMBOL: CVS

(CLICK HERE FOR LIVE STOCK QUOTE!)
Molson Coors (TAP) – The beer brewer earned $1.02 per share for the fourth quarter, well above the 78 cents a share consensus estimate. Revenue also beat Wall Street projections, despite what Molson Coors calls “significant headwinds and continued volume declines.”

STOCK SYMBOL: TAP

(CLICK HERE FOR LIVE STOCK QUOTE!)
Teva Pharmaceutical (TEVA) – The world’s largest generic drugmaker beat estimates by a penny a share, with quarterly profit of 62 cents per share. Revenue also topped expectations.

STOCK SYMBOL: TEVA

(CLICK HERE FOR LIVE STOCK QUOTE!)
Moody’s (MCO) – The credit-rating agency earned $2.00 per share for the fourth quarter, 7 cents a share above estimates. Revenue also came in above analysts’ forecasts. The company’s full-year outlook for 2020 is also largely above consensus. Moody’s said it is benefiting from increased global bond issuance, as well as increasing demand for research from its Moody’s Analytics unit.

STOCK SYMBOL: MCO

(CLICK HERE FOR LIVE STOCK QUOTE!)
Shopify (SHOP) – The e-commerce platform company earned an adjusted 43 cents per share for its latest quarter, compared to a consensus estimate of 24 cents a share. Revenue also beat forecasts on strong Black Friday and Cyber Monday sales on Shopify’s platform.

STOCK SYMBOL: SHOP

(CLICK HERE FOR LIVE STOCK QUOTE!)
CyberArk Software (CYBR) – The cybersecurity company beat estimates by 16 cents A share, with quarterly earnings of 97 cents per share. Revenue also came in above consensus. CyberArk said, however, that its full-year adjusted EPS outlook is $2.26-$2.38, below the consensus estimate of $2.79 a share.

STOCK SYMBOL: CYBR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Lyft (LYFT) – Lyft lost $1.19 per share for the fourth quarter, 20 cents a share less than Wall Street had been expecting. The ride-hailing service’s revenue beat consensus estimates. Lyft also said it is still on track to achieve a key measure of profitability by the end of 2021.

STOCK SYMBOL: LYFT

(CLICK HERE FOR LIVE STOCK QUOTE!)
Bed Bath & Beyond (BBBY) – The housewares retailer said same-store sales were down a greater-than-expected 5.4% in December and January, amid increased promotional pricing, lower store traffic, and issues with inventory management.

STOCK SYMBOL: BBBY

(CLICK HERE FOR LIVE STOCK QUOTE!)
Akamai Technologies (AKAM) – Akamai reported adjusted quarterly earnings of $1.23 per share, 10 cents a share above estimates. Akamai’s ’s revenue also beat Street forecasts. Results were driven by strong growth in its cloud security unit, as well as upbeat results for its flagship content delivery platform business.

STOCK SYMBOL: AKAM

(CLICK HERE FOR LIVE STOCK QUOTE!)
Alphabet (GOOGL) – Alphabet’s Google unit will be in court today, seeking to overturn one of three record European Union antitrust fines. Google had been fined $2.6 billion for allegedly favoring its own price comparison shopping service over those of smaller European competitors.

STOCK SYMBOL: GOOGL

(CLICK HERE FOR LIVE STOCK QUOTE!)
NCR (NCR) – NCR beat estimates by a penny a share, with quarterly profit of 85 cents per share. The payment processing software and services provider’s revenue was also above Street forecasts.

STOCK SYMBOL: NCR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Western Union (WU) – Western Union reported quarterly earnings of 38 cents per share, 5 cents a share below estimates. The payment processing company’s revenue also beat forecasts, and Western Union gave an upbeat outlook for 2020. The company announced a 13% increase in its quarterly dividend as well.

STOCK SYMBOL: WU

(CLICK HERE FOR LIVE STOCK QUOTE!)
Macerich (MAC) – Macerich was downgraded to “underweight” from “neutral” at Piper Sandler, which thinks Simon Property’s (SPG) acquisition of Taubman Centers (TCO) makes an acquisition of the shopping center operator less likely.

STOCK SYMBOL: MAC

(CLICK HERE FOR LIVE STOCK QUOTE!)

DISCUSS!

What's on everyone's radar for today's trading day ahead here at wallstreetbets?

I hope you all have an excellent trading day ahead today on this Wednesday, February 12th, 2020! :)

submitted by bigbear0083 to wallstreetbets [link] [comments]

Ganhe 20 satoshi por segundos sem investimento Bitcoin and Ethereum Beginners Guide CryptoCurrency Is It Controlled By The Elites? Belize Presidential Suite! 2017! TCC really pays bitcoin daily! John McAfee on bitcoin and cybersecurity The North American Bitcoin Conference, Miami

Over the last few years, many have claimed that bitcoin core has turned into, or will soon become, a store of value (SoV).Proponents of the BTC-based SoV theory seem to think that money can ... elite-fxtrade is a trusted platform to buy and invest in financial markets . The exchange provides fast order execution, low spread, and access to high liquidity orderbook for top currency pairs on the market. Safety of assets and data are backed by high security standards and advanced legal compliance. Returns up to 92%. Trade with a high return and accelerate your progress. Explore your ... 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 ... Safety of assets and data are backed by high security standards and advanced legal compliance. RETURNS UP TO 92% ... Such as Bitcoin, Ethereum, XRP, Neo, Iota and many more! Simplicity, speed, and reliability deliver a superior trading experience accessible from all browsers and operating systems. Web trading’s intuitive design and rich features give you superior control of your trading ... Welcome to www.elite-option.com. Elite-options - Your Profitable Kingdom offer everyone, who wishes to have stable extra earnings in the long term to invest in our Company. Once you make a deposit, you start getting daily interest and continue earning until your deposit term expires. After that you can either withdraw your deposit or invest it again, for another term, to continue getting daily ...

[index] [11939] [16751] [42587] [15574] [22159] [2929] [24427] [188] [51383] [50892]

Ganhe 20 satoshi por segundos sem investimento

There is one Bitcoin and it is one battle of store value in a digital way. The cryptocurrency arbitrage hedge fund running five to ten million dollars at the most. There is 35 or 40 million ... Entertaining but important talk from John McAfee on securing your bitcoin. For the best security, we use and recommend the Ledger Nano S: https://www.ledgerw... TradeCoinClub does not allow for unfunded members to participate in the trading profits, secure a spot in the team matrix, or sponsor new members into the club. Funding your TCC account: https ... TOP ELITE DE PTC BITC OIN Web Bitcoclix: https://goo.gl/nLuQgK (Nova) Web EthereumClix: https://goo.gl/AW3dsi (Nova) Web Bt4bux: https://goo.gl/SAVA9d (Nova) Web RushBitcoin: https://goo.gl/mwmrnb CryptoCurrency who really is running the show Secure Your Wealth With a Ledger Wallet https://www.ledgerwallet.com/r/2fe1 Start Investing in Bitcoin, Ripple ...

#