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Daily analysis of cryptocurrencies 20191028 (Market index 52 — Neutral state)

Daily analysis of cryptocurrencies 20191028 (Market index 52 — Neutral state)

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Chinese MIIT Official: China Contributes Two Important Global Blockchain Standards China MIIT official LI Ming commented after the politburo study session on October 24, “ MIIT has published seven group standards related to blockchain’s development, and over ten international standards have been established. Two of them are from China.
Chinese Foreign Exchange Officials: Countries Are Strengthening Cooperation On Cross-Border Financial Regulations And Law Enforcement According to Chinese financial news outlet Caixin.com, SUN Tianqi, chief accountant of the State Administration of Foreign Exchange, recently went to Washington to attend the Financial Supervision Conference organized by the US Commodity Futures Trading Commission (CFTC). SUN said that countries worldwide are strengthening regulatory and law enforcement cooperation to regulate cross-border financial services. Representatives of financial regulators and financial institutions from about 40 countries and regions participated the conference. During the meeting, representatives of national regulatory authorities discussed the development of FinTech, digital currency, cross-border financial services, and regulatory cooperation to combat illegal cross-border financial activities.
Largest American Food Coop To Pilot Mastercard’s Blockchain Tech Topco Associates, the largest American retail food group purchasing organization, will pilot Mastercard’s blockchain tech in its operations. Reported on Oct. 27, Topco will test a traceability platform developed by logistics firm Envisible. The Wholechain platform is based on Mastercard’s blockchain-based Provenance Solution. Topco will use the platform to trace the provenance of produce, meat and seafood.
Asia School Of Business Partners With MIT On Crypto And Blockchain Course Malaysia-based Asia School of Business has partnered with the Massachusetts Institute of Technology (MIT) to launch its first postgraduate course focused on central bank operations, with cryptocurrency, blockchain, monetary policy, economic management, and artificial intelligence included, Nikkei reports. Professionals from Asian and American central banks are reportedly involved in the course that is scheduled to start in May, 2020.

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th Stellar (XLM): 28 October 2019 Protocol 12 Upgrade Vote Horizon v0.22.0 has been released, which supports Protocol 12. This gives everyone ample time to prepare for the Protocol 12 upgrade vote Celsius (CEL) and 3 others: 28 October 2019 Litecoin Summit “…The Litecoin Summit offers two fun, jam-packed days with something for everyone.” XFOC (XFOC): The IDAX platform will be online XFOC and will open the XFOC/USDT trading pair at 13:00 on October 28. MEDIUM (MDM): The IDAX platform lists MDM and will open MDM/BTC trading pairs on October 28th at 15:00. ZB/ ZB Blockchain: The “2019 Hamburg Intercontinental Dialogue Conference” hosted by ZB.com will be held from October 28th to November 9th at the Four Seasons Hotel Hamburg, Germany. BQT (BQTX): 28 October 2019 Down for Maintenance BQTX.com will be down for maintenance on the 28th of October from 7 to 12am UTC.

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st. ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.” Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019. Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.” Enjin Coin (ENJ): 29 October 2019 EnjinCraft Stress Test “Join us Oct. 29 at 7:00pm GMT for a stress test. Let’s try to break #EnjinCraft!” IOTA (MIOTA): 29 October 2019 IOTSWC Barcelona IOT Solutions World Congress Digitalizing Industries conference in Barcelona from October 29–31.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.” TRON (TRX): 30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.” Horizen (ZEN): 30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more. Aeternity (AE): 30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.” Valor Token (VALOR): 30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!” Aragon (ANT): 30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM. Kambria (KAT): 30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31. Ethereum Classic (ETC): 30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”

Encrypted project calendar(October 31, 2019)

Spendcoin (SPND): 31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019. Spendcoin (SPND): 31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019. Stellar (XLM): 31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.” Bitcoin SV (BSV): 31 October 2019 (or earlier) BSV Conference Seoul No additional information. Seele (SEELE): 31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 . Howdoo (UDOO): 31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October. Chiliz (CHZ): 31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October. Dent (DENT): 31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!” IceChain (ICHX): 31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October. Chiliz (CHZ): 31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks. Horizen (ZEN): 31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. PCHAIN (PI): 31 October 2019 (or earlier) New Website No additional information. IOST (IOST): 31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.” Achain (ACT): 31 October 2019 Mainnet 2.0 Launch “… The main network is officially scheduled to launch on October 31.” Mithril (MITH):31 October 2019 Burn “MITH burn will take place on 2019/10/31 2pm UTC+8. “ Aergo (AERGO): 31 October 2019 (or earlier) Aergo Lite V1.0 Release AergoLite, which brings blockchain compatibility to billions of devices using SQLite, released during October 2019. TE-FOOD (TFD): 31 October 2019 (or earlier) Complementary Product “Development of a new, complementary product with a new partner, which we hope to be launched in September-October.” Edge (DADI): 31 October 2019 (or earlier) Full Open Source Code base for the network fully open-sourced in September or October. BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. Perlin (PERL): 31 October 2019 (or earlier) SSA Partnership “Perlin has partnered with the Singapore Shipping Association to create the International E-Registry of Ships (IERS)” Skrumble Network (SKM): 31 October 2019 (or earlier) Exchange Release “3rd dApp: Exchange Release,” during October 2019. EDC Blockchain (EDC): 31 October 2019 (or earlier) Blockchain Marketplace “As you already know, our ECRO blockchain marketplace is ready for release, and will open to the global community in October!” BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. XinFin Network (XDCE): 31 October 2019 Homebloc Webinar “XinFin — Homebloc Webinar 2019” from 9–10 PM. Akropolis (AKRO): 31 October 2019 (or earlier) Alpha Release “Delivers the initial mainnet implementation of protocol. All building blocks will be united to one product.” Hyperion (HYN): 31 October 2019 (or earlier) Economic Model The final version of the HYN Economic Model launches in October.

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019. VeChain (VET):”01 November 2019 BUIDLer Reunion Party BUIDLer Reunion Party in San Francisco from 8–11 PM. uPlexa (UPX): 01 November 2019 Steadfast Storm — PoS/PoW split (Utility nodes ie. master nodes) — Upcoming Anonymity Network much like TOR — Privacy-based DApps — Reduced network fees. Enjin Coin (ENJ): 01 November 2019 MFT Binding “ICYMI: On Enjin Coin’s 2nd anniversary (November 1), Enjin MFTs will be bound to hodlers’ blockchain addresses…” Auxilium (AUX):01 November 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity. Havy (HAVY):01 November 2019 Token Buyback “Havy tokens buyback, Only in 1 exchange between Idex, Mercatox & Hotbit. The exchange depends on the most lower sell wall.” Egretia (EGT): 01 November 2019 Global DApp Contest SF 2019 Egretia Global DApp Contest in San Francisco. EthereumX (ETX): 01 November 2019 Snapshot for ETX Holders “Next snapshot of ETX balances will be taken on 1st November 2019.” Veros (VRS): 01 November 2019 Transcoin Partnership “On November 1, Transcoin instant swap tool will be integrated into @VEROSFP platform.”

Encrypted project calendar(November 2, 2019)

Kambria (KAT): 02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more!

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019. TomoChain (TOMO): 05 November 2019 TomoX Testnet “Mark your calendar as TomoX testnet will be live on Tuesday, Nov 5th!” aelf (ELF): 05 November 2019 Bug Bounty Program Ends On Oct 24th, 2019 aelf’s biggest bug bounty will launch with a large reward pool. The event will run for almost 2 weeks.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th. KIM/Kimcoin: Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC).

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore. BTC/Bitcoin: Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th. IOTX/IoTeX: IoTex (IOTX) will participate in the CES Expo on November 08

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. HTMLCOIN (HTML): 09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.

Encrypted project calendar(November 11, 2019)

PAX/Paxos Standard: Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference. Crypto.com Coin (CRO): and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore. GoldCoin (GLC): 11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…”

Encrypted project calendar(November 12, 2019)

BTC/Bitcoin: The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th Binance Coin (BNB) and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.”

Encrypted project calendar(November 13, 2019)

Fetch.ai (FET): 13 November 2019 Cambridge Meetup “Join us for a @Fetch_ai #Cambridge #meetup on 13 November @pantonarms1.” Binance Coin (BNB) and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…” OKB (OKB): 13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov. Centrality (CENNZ): 13 November 2019 AMA Meetup “Ask our CEO @aaronmcdnz anything in person! Join the AMA meetup on 13 November in Singapore.” OKB (OKB): 13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).

Encrypted project calendar(November 14, 2019)

BTC/Bitcoin: The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th. Binance Coin (BNB): and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15. Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO @johnnyryan, as well as @UoE_EFI Horizen (ZEN): 14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(November 15, 2019)

TRON (TRX): 15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th” Bluzelle (BLZ): 15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019. Zebi (ZCO): 15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.” OKB (OKB): 15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”

Encrypted project calendar(November 16, 2019)

Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…”

Encrypted project calendar(November 17, 2019)

OKB (OKB): 17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.

Encrypted project calendar(November 19, 2019)

Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”

Encrypted project calendar(November 20, 2019)

OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!”
https://preview.redd.it/w3o9yrrjw9v31.png?width=504&format=png&auto=webp&s=05ed870dac22201b6222d240aac340345499f437

This past week, there was a sharp rally in bitcoin above the $7,500 and $8,000 resistances against the US Dollar. BTC even surged above the $9,500 and $10,000 levels before correcting lower.
Later, the price corrected below the $9,500 support and the $9,000 pivot zone. However, the decline was contained below $9,000 and the price remained well above the 100 hourly simple moving average.
A low was formed near $8,896 and bitcoin started a fresh increase. It broke the $9,000 and $9,200 resistance levels. Moreover, there was a break above the 50% Fib retracement level of the downward correction from the $10,578 high to $8,896 low.
However, the price seems to be facing a strong resistance near $9,850 and $9,900. Besides, the 61.8% Fib retracement level of the downward correction from the $10,578 high to $8,896 low prevented any further upsides.
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CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

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Daily analysis of cryptocurrencies 20191008(Market index 39— Fear state)

Daily analysis of cryptocurrencies 20191008(Market index 39— Fear state)

https://preview.redd.it/ny9n1keqear31.png?width=960&format=png&auto=webp&s=92ec97ba4944f8e5a956222d1c0dcac835e5b5b9

BM Announces The Release Of EOSIO 2 Daniel Larimer, also known as BM, announces the release of EOSIO 2 on Twitter. He voiced on Twitter: “EOSIO 2 rc1 is officially available for community to download and utilize on testnets and even non critical eos nodes. Assuming no major issues this will be the final 2.0 version and it’s super fast!”
USDT Issuance Has A Positive Correlation With BTC Price Recently Bitcoin (BTC) analysis of on Oct 8, the dropping of the BTC’s trading volume has hindered the price increase. However, USDT that was issued recently likely contributed significantly to the increase in Bitcoin price. Currently, Bitcoin’s moving average convergence divergence (MACD) histogram has turned positive, signaling a bearish-to-bullish trend change. It is reported that the number of Tether issuance is as many as six times in the past days, which may be the positive signal for BTC price. The Tether issuance has always been considered to be an essential cause of the rise of cryptocurrencies, with pushing the overall recovery of BTC and other cryptocurrencies. According to calculations from researcher TokenAnalyst, Bitcoin prices increase on 70% of the days when new Tether tokens are issued. The $2 billion in USDT that was issued this year likely contributed significantly to the 2019 increase in Bitcoin value. As Tether continued to issue USDT, the trading volume of cryptocurrencies increased, which is consistent with the rebound of BTC on Oct 7. According to statistics, the total number of USDT issued by Tether has reached more than 84 million in the past days. As of 17:30 UTC on Oct 7, Tether has newly issued 12.38 million USDT at block height 13408026; As of 09:50 on Oct 7, Tether issued 20 million USDT on Ethereum blockchain at the block height is 8694221; As of 16:00 UTC on Oct 4, Tether has issued 12.6 million USDT at block height 13320828; As of 13:24 UTC on Oct 4, Tether Treasury has issued $5 million USDT; As of 14:50 UTC on Sept 30, Tether has issued 20 million USDT on Ethereum at the block height 8650692; As of 20:24 on Sept 24, Tether has issued 15 million USDT on Ethereum at the block height 8613884.
Ukraine’s Digital Transformation Ministry To Legalize Cryptomining Ukraine’s Digital Transformation Ministry plans to legalize cryptocurrency mining or cryptomining in Ukraine within two or three years.
Turkish Government Freezes Over 3 Million Bank Accounts; Cryptos Become Popular Around 2.5 million taxpayers who have not been able to pay their debts and another 800,000 companies and persons owing money for social security expenses have received the notices on Oct 7, Turkish outlet Sözcü Gazetesi reported quoting the tax expert Nedim Türkmen. The total debt of both groups amounts to 150 billion Turkish lira (over $26 billion). According to the publication, all Turkish accounts of the 3.3 million debtors have been affected. The popularity of cryptocurrencies has been growing exponentially in Turkey and the 2018’s currency crisis coupled with high inflation pushed even more Turks to seek refuge in decentralized digital money. A 2019 study exploring how common cryptocurrencies are around the world placed the country, with a fifth of the Turkish respondents declaring they own crypto.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(October 09, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

Encrypted project calendar(October 10, 2019)

INB/Insight Chain: The Insight Chain (INB) INB public blockchain main network will be launched on October 10. VET/Vechain: VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10. CAPP/Cappasity: Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).

Encrypted project calendar(October 11, 2019)

OKB/OKB: OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”

Encrypted project calendar(October 12, 2019)

BTC/Bitcoin: The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th.

Encrypted project calendar(October 14, 2019)

BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.

Encrypted project calendar(October 15, 2019)

RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

BTC — BTC continued to rebound from a low of $7,800 to a high of nearly $8,400. In the past 24 hours, the net inflows of BTC funds exceeded $350 million, and the market inflows increased rapidly. From the current market, BTC has signs of stabilization around $7,800, and the daily line seems to be deliberately moving out of the double bottom. However, there is no obvious trend of enlargement of trading volume in the 4-hour line, and it is more likely that the bottom range will remain volatile in the short term. The upper resistance focuses on the vicinity of the neckline at $8500, the lower support at $8000 and then around $7700. In terms of operation, BTC has shown signs of stabilization near $8000 and can wait for low replenishment.
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Retailers Around The World That Accept Crypto, From Pizza to Travel

Retailers Around The World That Accept Crypto, From Pizza to Travel


News by Cointelegraph: Jinia Shawdagor
Earlier on, when Bitcoin (BTC) arrived on the scene, most cryptocurrency enthusiasts held on to their coins, as there were only so many places they could be spent. Nowadays, the list of marketplaces and retailers accepting Bitcoin and other cryptocurrencies is significantly larger, providing crypto enthusiasts with more options for making real-world purchases.
After all, with recognizable organizations like Microsoft and Wikipedia now accepting Bitcoin as payment, conversations about Bitcoin and the power of cryptocurrencies are becoming more prominent.
Currently, several fast-food restaurants and coffee shops have started accepting Bitcoin as payment. This will likely provide traction for mass adoption as cryptocurrency payments become increasingly commonplace in day-to-day purchases.
Granted, there are some jurisdictions that do not consider Bitcoin or any other cryptocurrency as legal tender. Despite this set back, even big tech companies like Facebook are coming up with payment systems that mimic cryptocurrencies.
Here are some of the leading retailers, merchants and companies that will let you book flights and hotels, buy coffee or pizza, or even go to space with crypto.

Pay for a burger in Germany with crypto

The German branch of fast-food restaurant chain Burger King now claims to accept Bitcoin as payment for its online orders and deliveries, but this is not the first time Burger King has warmed up to Bitcoin as a form of payment.
The company, headquartered in Florida in the United States, had its Russian branch announce in 2017 that it would start accepting Bitcoin payments, but it ultimately did not take off. The global fast-food retailer reports an annual revenue of about $20 billion and serves about 11 million customers around the world. If all its outlets move to accept Bitcoin as payment, cryptocurrency adoption would inevitably spread.

Spend crypto at Starbucks and other places

For crypto payments to gain traction, merchants need to implement systems that enable swift and easy cryptocurrency spending. Starbucks is one of the companies taking advantage of this concept through Flexa, a U.S.-based payment startup that is helping the cafe giant, as well as dozens of other companies, accept cryptocurrency payments.
The company developed an app called Spedn that enables crypto holders to make purchases with merchants like Starbucks. The company’s CEO believes that by making cryptocurrencies spendable in the mainstream, commerce will realize the full benefit of blockchain technology all over the world.
Crypto enthusiasts in Silicon Valley’s Palo Alto might already be familiar with Coupa Cafe for other reasons apart from its coffee and food. Through its partnership with a Facebook software developer, Coupa Cafe has been accepting Bitcoin as payment since 2013.
Reports show that the cafe received a steady stream of Bitcoin revenue as soon as they started implementing crypto payments — a clear sign of how eager its customers were to pay in Bitcoin. Coupa Cafe is among the few physical businesses in Palo Alto that accept Bitcoin at the moment. The cafe owners believe that their collaboration with the Facebook software engineer will create more traction in terms of Bitcoin adoption.

Buy food with crypto

With over 50,000 takeaway restaurants listed on its United Kingdom-based site, OrderTakeaways is one of the surest ways to get a pizza paid for with crypto delivered to your doorstep. The company has been accepting Bitcoin payments for online takeout orders since 2018. And other similar services include the Korean platform Shuttledelivery as well as German-based service Lieferando and its subsidiaries in several other countries.
Apart from online orders, crypto can also be spent at a regular Subway restaurants. As early as 2013, several Subway branches started accepting Bitcoin as payment. Now, for a fraction of a Bitcoin, a Subway sandwich can be purchased at select restaurants.

Pay with Bitcoin to tour space

Besides buying food and inexpensive, day-to-day items with crypto, a trip to space can now be bought with Bitcoin. That’s right. Richard Branson’s space tourism company, Virgin Galactic, started accepting Bitcoin as payment as far back as 2013. Although Branson’s predicted date for the first commercial flight has been pushed back several times, the company achieved its first suborbital space flight last year. Perhaps soon, people will be able to tour the moon on crypto’s dime.

Buy jewelry with Bitcoin

A brick-and-mortar American jewelry company called Reeds Jewelers accepts Bitcoin for both its physical and online stores. What’s more, if a purchase is worth more than $25,000, the company provides free armored delivery for safety. Other jewelry companies accepting Bitcoin include Blue Nile Jewelry, Stephen Silver Fine Jewelry and Coaex Jewelry, to name a few.
A big advantage of purchasing large ticket items — like a diamond — with crypto is that it makes moving around large amounts of money cheap and effortless. Reports show that more Silicon Valley investors are buying jewelry with Bitcoin. Last year, Stephen Silver Fine Jewelry reported a 20% growth in crypto transactions, leading to a boost in the company’s sales. The company has been accepting Bitcoin since 2014.

Send and redeem gift cards with Bitcoin

Gyft, a digital platform that allows users to buy, send and redeem gift cards, was one of the first merchants enabling cryptocurrency adoption to gain traction in the real world. The mobile gift card app allows Bitcoin to be used to purchase gift cards from several retailers, some of which include Burger King, Subway, Amazon and Starbucks. The company has also partnered with popular crypto exchange Coinbase to enable users to buy gift cards from their Coinbase wallets.

Travel and pay in Bitcoin

If a traveler only has Bitcoin at their disposal, the following merchants will gladly offer services in exchange for it. TravelbyBit, a flight and hotel booking service, accepts cryptocurrencies like Bitcoin, Binance Coin and Litecoin (LTC) as payment.
With a network of over 300 crypto-friendly merchants, the platform is one of the biggest supporters of crypto adoption. TravelbyBit can also alert you to upcoming blockchain events in order to interact with other crypto enthusiasts from around the globe. Other platforms to book flights with crypto include Destinia, CheapBizClass, CheapAir, AirBaltic, Bitcoin.Travel and ABitSky, among others.

Use crypto to book a five-star hotel in Zurich

If ever one finds themselves traveling to Zurich Switzerland, either BTC or Ether (ETH) can be used to pay for a stay in a five-star hotel in Zurich. In May 2019, five-star hotel and spa Dodler Grand announced that it will start accepting Bitcoin and Ether as payment.
The hotel has partnered with a fintech firm Inacta as well as Bity (a Swiss-based crypto exchange) to facilitate the payment and conversion of crypto to fiat money. The hotel boasts an amazing view of the Swiss landscape among other enticing amenities that come with a five-star hotel.

Pay for electronics and more with crypto

For all the gadget lovers, there are a bunch of platforms that allow electronic purchases with cryptocurrency. Newegg, for instance, is an electronic retail giant that uses BitPay to process payments made with digital currencies. Even though one cannot get refunds for Bitcoin purchases, Newegg has a good reputation for quality items.
Plus, the company boasts its being among the first merchants to support cryptocurrency adoption. Other platforms for gadget junkies include Eyeboot (a platform that sells crypto mining rigs in exchange for crypto), Microsoft, FastTech and Alza (a U.K.-based online store that sells phones and beauty products).

An ever-expanding list

It seems clear that more retailers are warming up to the idea of accepting cryptocurrencies. There is still a long way to go before full adoption can be achieved, but many companies have nevertheless benefited from being early adopters. Despite the volatile price movements of cryptocurrencies, all evidence points to a future cashless society that uses digital currencies, and crypto is leading the way.
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Finding new species and saving the rainforests of Borneo: The first 100% Monero (and crypto) funded scientific expedition is happening this week! Learn about it here, and help increase positive public awareness of Monero

Hello everyone!
My name is Austin Garrido, and I am a scientist, explorer, and long time Monero user. I work to explore undocumented and endangered ecosystems to open them up to scientists and to bring to light the unique organisms that live there so that they can be protected. For several years, I worked in Panama to explore previously unknown cave systems and mountain ranges between the border of Panama and Colombia. I worked for an NGO which was protecting the most isolated cloud forest in central america, nestled a completely undocumented mountain range (the Mahe Massif, and [ADOPTA Panama Rainforest](www.chucanti.org) ), and for the last year I have done research for the Smithsonian Institution. In biology, I primarily study insects and fungus, but my passion is to find undiscovered or lost species in remote and unexplored territory and present them to the world. Last year I assisted in finding 5 new species of insects and amphibians.
My guiding belief is that we can not save what we don’t know about, and we can not protect what we don’t understand. The main problem with science today is the “publish or die” mentality. Scientists can only get funding if they publish, and so they will much more often go for previously studied regions where the area and the goal is clear and easy to put in a proposal. One of the problems with this is that new and unexplored areas get neglected. So the same areas get studied over and over while unexplored ecosystems are ignored because they are unknown and seemingly intractable to someone with limited funding. Scientists don’t know how to get there or what they will find, so understandably, they go for the safer bet. What we need is someone who is willing and able to go into uncharted territory, document the process, and collect broad scientific data to make freely available to the world. Not only will this increase the study of these areas, but almost every area like this is under incredible danger of deforestation or pollution, and if nobody knows what is there, all of the countless new species there will disappear without a sound.
I have been an advocate of Monero for over 4 years now, and over the last few months, Monero has done spectacularly. I have taken advantage of my good fortune in the market to fund myself to another part of the world: Southeast Asia. The multitude of islands and biodiversity here is staggering. I set my sights on one of the largest and most endangered rainforests in the world: The heart of Borneo.
Deep inside the center of Borneo, I have located an unnamed and completely unexplored 14 sq mile plateau in the mountains at about 1800 meters in elevation (see it at 2.175717, 116.107885). This is one of the most isolated and untouched area in allof borneo. In 1923, a few dozen miles south of this plateau, there was a species of pitcher plant discovered on Mt. Kemul at a similar elevation. It was only seen once, and only a single sample of its leaves exist- its name is Nepenthes Mollis. This species was recently named one of the 25 most wanted Lost species on earth. It was named this because of its uniqueness, and the opportunity it provides to help save this unique habitat. Borneo is one of the oldest and most biodiverse rainforests on earth, and it is being destroyed faster than anywhere on earth. Species like N. Mollis help us call attention to these forests, and might just help us get the attention we need to save these last remaining chunks of virgin wilderness.
To get to this area, I have to travel to the middle of nowhere at the mouth of a very seldom explored river, hire a boat to take me 165 miles up river (through countless sets of huge rapids that we will somehow manage), where I will find an unknown tribe of Dayak based only off satellite images, who I hope to convince to help me carry food and supplies up several days hike into the cold and wet cloud forests of the plateau. There I will build a camp, and use it as a base to explore, document species of reptiles, insects, amphibians, and mammals that I encounter. I will stay there alone for four weeks. In this time, I will undoubtedly find many many new species, as these isolated and cold areas in rainforests tend to house many endemic animals that have been trapped there for millions of years.
This trip is completely funded by me, and Ive already spent more than $6,000 worth of monero on this trip, a sizable chunk of my net worth. I dont mind, really, this work is the most important thing in the world to me. But I have an idea: If anybody wants to send funds to support this expedition, and future ones, I think it would be an excellent opportunity to increase public awareness of Monero. Of the new species discovered on this trip, I will make sure that some of them are named by the Monero community (maybe a vote?). And if (when!) I find the legendary Nepenthes Mollis, I will recognize Monero in the publications on the species discovered, and ensure that any press releases mention it. On top of this, Monero kind of has a reputation for being completely closed and shady, so I will use this opportunity to show the public how things like View-keys can be used to make Monero transparent. If I get any serious level of donations, I will make the wallet public, as well as posting each of my withdrawals and what purpose it is being used for. It is very, very important to me that this fund is used only for research purposes, and that everyone can see it happen. Monero is not just for total privacy- it’s for selective privacy, and this is a transparent project. This is an important factor that is not stressed, or really used by anyone major Ive seen so far, and i think it’s pivotal to moneros mainstream adoption.
All of my findings and results will be published online for everyone to use freely. We already have plans next year to take a much larger research team up there, including Dr. Peter Marting, an amazing field biologist who studies the variations in personalities of superorganisms like ant colonies. Future expeditions will always be to endangered and unexplored territory exclusively, usually tropical rainforest, and with a distinct aim to save the area and open it to scientific study. I look forward to anyone who wishes to support me in this, but I also just want to thank this community for supporting and answering all my questions over the years! This is a 100% Monero funded operation- all my money is in Monero.
And just so you know how real I am about this: I’m already in Borneo. It’s already happening. Arrived here a few weeks agok, and in less than 2 weeks time I will already be deep deep in the jungle! Any funds I receive I can use for hiring assistants for trailblazing, a better base camp, potentially being able to send back more samples, and maybe even getting things like game cameras. All of these things will make my time here infinitely more productive. If you can’t donate, there are lots of other things you can do to help this project and monero- I will need to sift through data, publish my findings in an accessible way, contact news outlets to let them know of this incredibly important project, and edit hours of video footage into something people can watch. PM me if you’d like to help with any of these!
I have an instagram called Pando_brain, which ive only started posting to for this trip. You can use that for confiriming who I am- I have several videos up showing how Im getting to the most remote area in Borneo!
Monero Donation Address: 4GdoN7NCTi8a5gZug7PrwZNKjvHFmKeV11L6pNJPgj5QNEHsN6eeX3DaAQFwZ1ufD4LYCZKArktt113W7QjWvQ7CWCL1Lh67TceVDAebS7
Bitcoin: 3MN2NVH3RJ3wb8JbGgfE3sRUaTBcgC9ind
Litecoin: LZNeu1jacsmLMj4QvqnAxxzo5TAzcJaNQJ
Ethereum: 0x3E09804579d0D5a2A3AB95F4649F9993275ba65B
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ECOMI Ecosystem- Digital Collectibles and Hardware Wallet

ECOMI

Token Symbol: OMI
Crowdsale Token Price: $0.05
Hard Cap: $22,125,000
Total Tokens for Sale: 500,000,000 (50% of Total Supply)
Crowdsale Date: June 30, 2018
https://preview.redd.it/6h8ayvxqsk511.jpg?width=1600&format=pjpg&auto=webp&s=b6bd2367fcc767615b699d7ef198cb2196a1c45c
What is ECOMI?
ECOMI is a security, economy and digital ecosystem supported by ORBIS Blockchain Technologies Ltd. ECOMI aims to bring blockchain technology to the mainstream by offering a user-friendly all-in-one platform. The company is actively working on tackling the issues of security and data protection (namely private keys) in the crypto sphere. They also want to make cryptocurrencies more user-friendly and increase their efficiency when being used by different entities. In order to do this the company is creating a digital assets ecosystem on the blockchain, delivering the benefits of decentralization, ownership, privacy and control. ECOMI’s products offer the following:
The Secure Wallet– A cryptocurrency and private key hardware device that ensures the protection of digital assets via a convenient credit card sized device. Designed to be completely impenetrable by malicious attacks, the Secure Wallet’s infrastructure ensures that it is never connected directly to the Internet, or insecurely connected to an online device, thus maintaining the most secure asset protection. The Secure Wallet is paired with a host device (an Apple or Android smartphone) via an encrypted wireless / Bluetooth connection. Another feature that makes the wallet stand out is that it’s waterproof and has a bend capability of 15 degrees. The Secure Wallet will launch with the capacity to securely store five cryptocurrencies – Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and very soon it will offer ERC20 support. By the end of 2018 the Secure Wallet will support over 30 currencies.
ECOMI One– Built on top of the Secure Wallet technology, ECOMI One will securely hold your cryptocurrencies, fiat currencies (e.g. USD, GBP, EUR), as well as your NFC-enabled debit, credit, and loyalty cards. ECOMI One addresses the utility problem of cryptocurrencies and their day to day usability by offering a consolidated all-in-one wallet with the capability to hold all the aforementioned assets in ‘One’ place. With the integrated debit card – accepted where all major debit cards are accepted – ECOMI One card holders can spend fiat and cryptocurrencies, using technologies such as NFC and EMV. The in-wallet exchange allows cryptocurrencies to be exchanged for fiat currencies, either directly within the app or automatically at the point of sale.
ECOMI Collect– ECOMI Collect will offer a new type of collectible in the form of a ‘Non Fungible Token’ (NFT) – essentially a digital asset that has a verified owner. These NFT’s represent unique collectible items (such as rare cards or characters) that exist in the digital space and can be traced to a verified owner. In an easy to use and well-designed app users can browse a wide range of licensed digital high-quality products. Once they are purchased, collectible owners can view, trade, or visualise these digital collectibles using the latest Augmented Reality (AR) technologies, which now are standard in Apple and Samsung phones. ECOMI has secured the first crypto-collectible license – the internationally renowned brand tokidoki.
ECOMI Vault– ECOMI Vault protects your data. This can include, but is not limited to, all forms of intellectual property, for example a piece of music, literature, or specifications of revolutionary new technology, as well as personal data such as usernames, passwords and also credit cards. Using a combination of distributed ledger technology and offline private key storage (Secure Wallet or ECOMI One), ECOMI Vault offers a maximum level of protection for personal and commercial data. ECOMI Vault is a software-as-a-service (SAAS) solution. Users can upload files to their Vault, create folders, and organise their data. To keep data organised, there are specific sections for different types of data such as passwords, credit cards, files etc. within the Vault. When data is added to ECOMI Vault, each file gets a verified, timestamped record of all activity that takes place within said file. This include times when the file was added, viewed, updated, accessed, shared and more.
ECOMI App– At the heart of the ECOMI ecosystem there is the ECOMI app. Through this app users will be able to access all ECOMI services and features from one central location. ECOMI apps will be developed by ORBIS Blockchain Technologies Ltd. During this initial development period ORBIS will create guidelines for development within the ECOMI Ecosystem.
Soon after, the ECOMI Ecosystem will be open as a platform for any developer who wishes to either build an app the community has voted for, or create an app of their own. Users can access the products and services within the ECOMI ecosystem by using the ECOMI desktop and mobile apps, as well as browser extensions for certain features.
Product Readiness
ECOMI aims to offer five different products, all bringing value to users through different ways. The company has finalized one of the products so far (The Secure Wallet). The other four are still in development and are planned to be finalized in the following time periods:
Ecomi One: Release in Q2 2019
Ecomi App: V1 release in Q3 2018
Ecomi Collect: Public release in Q1 2019
Ecomi Vault: Public release in Q2 2019
Sometime in 2018, before the set due dates, the test versions of the products will be released.
Competitive Advantage
What stands out is ECOMI’s fairly wide scope. In regard to the four products that the company plans to develop, it has to be said that each has competitors. They might lose to those more focused competitors who are putting all their resources towards solving one problem.
ECOMI does have a unique solution with the Secure Wallet, and that product is finished and ready to be purchased. What makes it better than competitors like Ledger Nano S is that they never connect to the internet directly. It remains to be seen if the benefits are significant enough to move people to this solution rather than the hardware wallets. Furthermore, ECOMI One and ECOMI Vault are both unique in their ways compared to the current competition. In regard to Ecomi Collect, it is the only cyrpto-collectible app with licensed brands, such as Tokidoki. However, both of these projects are not yet fully developed, hence we will need to wait and see whether their features will still be unique at the time of their release.
Size of Potential Market
ECOMI is aiming to target a mass market with their products, as they are covering all of the following spaces:
-Decentralized application marketplace
-Exchange (providing liquidity)
-Protection and storage of personal data, including basic identification, usernames, passwords, credit card information, passports, licenses and more
-Recording, protecting and sharing of intellectual property
-A broad variety of P2P asset exchange platforms including cryptocurrencies, messaging platforms, social media, encrypted file and data storage
-The team’s aim is to build a global ecosystem, however for the time being it seems that their main focus is on the American and Asian markets. These two markets are promising in regard to in-game collectibles and also have the largest amount of cryptocurrency users and owners.
Competition
The Secure Wallet has strong competitors in Trezor, Nano, and KeepKey. ECOMI’s wallet does have several features that set it apart from the competition such as allowing the user to access the wallet without an Internet connection, but it comes with a substantially higher price than all three competitors.
ECOMI One in our opinion is the product that stands out most, considering it has NFC Technology incorporated, and a debit + credit + loyalty point card. In our opinion this will be very attractive for many, because it’s basically a three-in-one card which can be used in the real world. Monaco and Advcash can be considered the closest competitors to ECOMI One.
Lastly, ECOMI Collect and ECOMI Vault both have competitors, such as PokemonGo, CryptoKitties, Steam VR, and Google Drive, Dropbox respectively. ECOMI Vault will contain many more features than the current competition, as can be seen below, therefore it might gain a hefty customer base if development will be quick. On the flip side, intellectual property and document protection is already being tackled by several blockchain-based startups.
https://preview.redd.it/c89g7bursk511.png?width=891&format=png&auto=webp&s=fdc40fffcfc4bf0a8363dc1d9e55613770ffe45f
Innovation & Intellectual Property
ECOMI’s parent company, ORBIS, owns a shareholding stake in the manufacturing production facility, for the Secure Wallet and the ECOMI One. This production facility has high-level technical manufacturing production and owns 19 patents related to hardware wallets and debit technology.
Update on 8 May, 2018: One of the team’s main focuses will be acquiring licensed and recognized collectibles for ECOMI Collect. The nature of licensed collectibles will bring some unique marketing collaborations, and should drive people from outside of crypto into ECOMI. So far the team has secured the license for tokidoki, and mentioned that more announcements are to be coming soon. This is a key point of difference in comparison to competitors, as collectible offering- and second hand market- will be recognizable characters and pieces, as opposed to tickets, coupons and shopping rewards.
Use of Blockchain = 73\%
Blockchain Advantage
The use of Blockchain allows ECOMI to bring customers a much safer debit, credit, and cryptocurrency cold wallet. All five ECOMI products focus on lowering the entry barrier for cryptocurrency non-natives and offer better solutions to already existent products and services.
Need for Custom Token
The native token’s main usage is staking. It allows users to have access to advanced features offered by the products and unlocks features which would not be accessible without having an active stake. Access to products and services within the ECOMI ecosystem will incentivise token holders to support the network by staking OMI Tokens, rather than spending them. This is a perfect example of aiming to tokenize an economy. ECOMI’s ecosystem could run almost the same by using fiat, however, by tokenizing the network, transactions become faster, users are “hooked” to the platform quicker and in-game spending becomes easier.
Decentralization
team will offer an exchange function built into the ECOMI One Card/App, so that you can exchange the currencies you own. In the initial phase it will operate similarly to Shapeshift and be tailored to the specific needs of our community. It is unclear whether the exchange is decentralized or not. The rest of the products are, we believe, decentralized enough, so that power is not monopolized within the network.
Storage and Mining
Do not include in rating ECOMI mentions that they are currently in talks with several data storage solutions such as Sia Coin. These solutions will be used for large-file storage hosted through the ECOMI Vault.
Contribution for the Blockchain Economy
ECOMI has competition from all angles, however, the offerings they are working on should be better than what’s currently available on the market. We are particularly excited about the Secure Wallet and the ECOMI One. We believe that an improved hardware wallet and an all-in-one debit/credit card can attract a large customer base and allow ECOMI to build a sizeable revenue stream, especially since alternatives to the current hardware wallets are needed due to unmet demand and security flaws. ECOMI has the potential to bring great contribution to the blockchain economy simply by offering your average Joe an easy way to enter the space, either through the use of a secure debit card, the ECOMI Collect game, or the ECOMI Vault with its stellar security propositions. ECOMI Collect’s advantage is the licensed brands that the company have onboard. In addition, these famous licensed brands, will expose blockchain / crypto to many people outside this space from the $621 billion collectibles market.
Development Roadmap
https://preview.redd.it/o3zq43ossk511.png?width=891&format=png&auto=webp&s=e2c851f8ee6a1466388e7c06e2773b482e06cfc3
Concreteness
The development plan presented is very clear, and there are many milestones that the team aims to achieve within the upcoming two years. Each quarter brings either a product launch or a new updated version of the already existing product(s). We believe that the roadmap is slightly ambitious for the team’s current size, and that there might be delays in releases, especially in the ECOMI One wholesale distribution. Hopefully, the team can prove us wrong in the long-term and stick to the presented deadlines.
Vision
ECOMI’s roadmap runs until the end of 2019 and has several releases / milestones planned for each quarter. We believe this is important from the product development and the investor’s viewpoints. Frequent milestones put pressure on the team and should act as motivation in the long-run. If all of the planned milestones will be achieved in time, ECOMI will gain great traction and profit from positive exposure in news and cryptocurrency outlets.
Current Position
The Secure Wallet was planned to be developed by the end of Q1 2018. The wallet is complete, and the team is currently working on some updates of the app which will be released before the crowdsale. It is mentioned that the team also has plans for scaling contributions considering they build on Ethereum. So far they have achieved a sufficient amount of planned milestones and are well on track.
Recent Developments
In recent weeks, ECOMI has had a number of successes thanks to strategic partnerships and investments, as well as the business acumen provided by CEO David Yu. These include an acquisition of a larger stake of the hardward manufacturing facility, favorable price negotiations for licenses on ECOMI Collect, and an ORBIS series A round of investment.
These developments bode very well for ECOMI and current and future investors as the leadership team has decided to reassess the token sale hard-cap and cut the token in price in half while simultaneously issuing twice as many tokens to current holders.
submitted by madmaxsrb to CryptoCurrency [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

My attempt at an ELI5 for cryptocurrency to help my friends.

This is a long one so fair warning and no there is no tl;dr. I've only been at this for about 6 months and worked up this paper the other day for my friends who are interested but know very little about this. Hopefully whoever reads this can make in corrections as I am far from an expert.
Blockchain
Cryptocurrency, Bitcoin, Ether are all blockchains. Blockchains are basically a spreadsheet (LEDGER) that is duplicated multiple times across a network and updated regularly simultaneously. There is no centralized version of this ledger. It is hosted simultaneously by thousands/millions of computers. These ledgers will update on their own, Bitcoin as an example automatically checks itself every 10 minutes. Each of these 10-minute increment of transactions (in bitcoins case transactions would be sending or receiving bitcoins from one person to another for goods or services) are called BLOCKS. For these blocks to be confirmed, accepted, and updated to the ledger nodes are required.
Nodes (Mining/Forging)
A node is a computer running the blockchain software on the network. The blockchain software will automatically download the entire ledger of all transactions since its inception. At regular intervals, the software will take the transactions of a block (data on the ledger) and convert them into a mathematical puzzle to be solved by randomly chosen nodes (MINING). Mining requires powerful processors (typically GPUs) and substantial quantities of energy to receive mined tokens profitably. When a specific number of nodes solve the puzzle with the same answer they are basically confirming that the data on the block is accurate as multiple independent nodes found the same answer. When confirmed, the block gets added to the previous blocks making a chain of blocks aka a blockchain. As an incentive to run your computer as a node you are rewarded with TOKENS. If a single person or group of people wanted to manipulate the ledger, the amount of machinery and electricity used to achieve the majority of miners thus allowing you to manipulate the ledger is so exponentially expensive that it serves no reasonable purpose. This is an example of a Proof of Work Blockchain System (computer solves puzzle and rewarded with tokens)
Tokens
Tokens are part of the core of the blockchain. They are an incentive to validate transactions and create blocks. They gain intrinsic value based on the blockchain they are associated with. Some blockchains grant token holder’s different abilities. With Bitcoin, tokens are needed to pay for transaction fees. Others allow voting rights on how certain blockchain functions are managed. There is a limited amount of Bitcoin that will ever be released to nodes (21 million expected to be all be released by 2033) which also keep inflation from being a problem. Blockchains can create their platform with whatever number of tokens they would like and release them or create means to mine them as they see fit. Essentially, as with any other fiat money (currency that a government has declared to be legal tender NOT backed by a physical commodity), as adoption and trust increases the value of the token will increase. If most people accept Bitcoin for services and stores accept Bitcoin for goods than it is as good as the next currency.
Wallets
Whether you mine for tokens, are paid in tokens for goods or services or purchase tokens from a person or currency exchange you need a place to store them securely and a way to send and receive them. Cryptocurrency Wallets don’t store currency, they hold your public and private keys that interface with the blockchain so you can access your balance, send money and manage your funds. The public key allows others to send money to the public key only. A wallet that is "offline" (see Hardware or Paper below) cannot access funds or send money unless it is accessed with another form of wallet, either desktop, online, or mobile.
1) Desktop Wallet - Installed on your computer and are only accessible from that SINGLE computer. Very secure but if someone hacks your computer you are exposed. 2) Online Wallet - Run remotely (cloud based) and are far more convenient to access but make them more vulnerable as they are controlled by a third party and are also vulnerable to hacking attacks. Exchange wallets are online wallets but you are not in control of the private key. View it as a wallet that is lended to you so you can trade. The wallet is technically not yours. 3) Mobile - Ran on an app and are useful as they can be used anywhere including retail stores 4) Hardware - Private keys are stored on a tangible device like a USB drive. They can make transactions online but they are stored offline. Compatible with web interfaces and support many but not all currencies. To use, plug into a computer, enter a pin, send currency and confirm. Safest form of storage. 5) Paper - Basically a physical printout of your private and public keys. It is not stored online anywhere and the only way transactions can happen is if you transfer money with the help of an Online wallet.
Example of a Public Key = 1A684DbsHQKPVCWgaUsYdF4uQGwTiA9BFT Example of a Private Key = E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262
Most wallets provide a Recovery Mnemonic Passcode that is a series of words (typically 12 to 24 words) in a specific order. If you lose your login information for your wallet you can supply the mnemonic passcode and retrieve your lost login information. If you lose your login information and your mnemonic passcode your wallet will be inaccessible and your tokens are lost to you. The above basically describes a first generation Blockchain Cryptocurrency such as Bitcoin. It is used basically as currency with no centralized entity regulating the release of additional currency and keeping the ledger of where the money is going secure and extremely safe from manipulation.
Second Generation Blockchain
The second generation blockchains sprung out of this environment with something more valuable. Utilizing the blockchain system to allow applications to be ran on top of a decentralized secure system. Instead of just recording transactions, contracts could be transmitted the same way. More complex transactions (SMART CONTRACTS) allow for things such as: - Funds to be spent only when a required percentage of people agree - Manage agreements between users (such as insurance) - Provide utility to other contracts - Store information about an application such as domain registration information or membership records This basically can allow applications to be ran on top of the blockchain system. This can cut out the middleman for many real-world applications (mortgages, banking, communications, security confirmations etc.)
Proof of Work/Proof of Stake
As I mentioned earlier, Proof of Work (PoW) requires nodes to solve a mathematical puzzle which is rewarded with tokens. Proof of Stake (PoS) is different, the tokens with proof of stake systems are pre-mined meaning they are all created when the blockchain system is created. Blocks are not verified by the typical method. The block validator uses the blockchain software to stake their tokens and are chosen based on specific factors depending on how many tokens the person holds and for how long. Depending on how many tokens they hold will restrict the quantity of blocks they can validate. If they own more they can validate more often but all validators will be chosen randomly keeping the rewards fairly distributed (unlike PoW which typically reward the first completed.) The blockchain still requires a mathematical puzzle to be solved but it is much easier than PoW requiring far less time and energy. If the blockchain has premined all of their tokens then new tokens cannot be mined for rewards in PoS. The reward for staking your tokens to be a validator is a portion of the transaction fee that is charged as part of normal transactions on the blockchain. That is why PoS miners are called forgers. If manipulation is attempted than their stake can be taken from their wallet adding more motivation to prevent data manipulation.
Fork
Some cryptocurrencies may need to update or upgrade the coding of their blockchain software. When this happens usually a fork occurs. This basically means the cryptocurrency splits into two separate cryptocurrencies. Because the nature of blockchain technology, they are decentralized and autonomous so the older version cannot be deleted or removed. If people choose to continue using the old version they can. For mining/forging purposes the nodes will need to choose which they will mine/forge and download the blockchain software on their computer to proceed. When the fork occurs, anyone holding tokens in the original currency will be given the same number of tokens in the forked currency. (When Bitcoin forked to Bitcoin Cash, anyone holding x amount of Bitcoin would receive a new wallet for Bitcoin Cash also containing x amount of Bitcoin Cash.) This is called a Hard Fork and all previous transactions are made invalid. There are also Soft Forks, in this case it is backwards compatible and all previous transactions are valid. This can result in two currencies but in most cases, it doesn’t as it is usually accepted by most miners/forgers because it is backwards compatible.
Exchanges
Online currency exchanges allow you to buy, sell or exchange fiat money (USD, EUR, etc) with digital currencies or in most cases digital currencies for other digital currencies. There are a large variety of different exchanges that are operated in multiple countries but there are around a dozen that the majority of cryptocurrency trading volume are present on. Not all cryptocurrencies will be listed on all exchanges, some have specific prerequisites to be listed on their exchange and there may be fees associated as well. Once your account is set up you will have a list of all available cryptocurrencies to trade. Each currency will have an associated online wallet with the public key address allowing you to send that specific currency to that wallet. (Many exchanges are having delayed or canceled identity verification, currency transfers and lack sufficient customer support due to the influx of new traders) Examples of top exchanges: 1) Coinbase (trades fiat) 2) GDAX (trades fiat) 3) Gemini (trades fiat) 4) Changelly (trades fiat) 5) Bittrex 6) Binance 7) HitBTC 8) EtherDelta 9) Bitfinex 10) Kraken 11) Bithumb 12) Bitstamp 13) Poloniex 14) OKEx
Sending/Receiving Tokens
All wallets have the ability to send digital currency to other wallets. The function is relatively easy, make sure the currency you are sending is going to the appropriate wallet for that currency. Ethereum tokens cannot be sent to a Bitcoin wallet for example. (The tokens aren’t actually moving location; the list of transactions/ownership is what is stored in the wallet). Triple check the wallet private key you are sending the tokens to. If you type the wrong address the tokens will be lost in nearly all incidents. Some mobile wallets allow you to scan a QR code that will automatically enter the public key rather than copying/pasting or typing out the public key.
Taxes
As of January 1, 2018 it appears that taxing on digital currency has changed. Every trade between any digital currencies (Bitcoin to Ether, Ether to Litecoin etc) will be a taxable transaction. If you hold the currency for longer than one year than you will pay capital gain tax when it is traded or sold (15%-20%) and if you sell or trade in less than a year you will have to add the profit to your taxable income to adjust your tax bracket.
Altcoins
Altcoins are basically any coin that is not Bitcoin. Most cryptocurrencies do not have a native blockchain (their own independent dedicated blockchain). Bitcoin, Ether, Ripple, Waves, NXT, Cardano all have their own native blockchain. Many other cryptocurrencies run on other cryptocurrency’s blockchains. Litecoin runs on Bitcoins blockchain, hundreds run on the Ethereum blockchain. These currencies act as smart contracts running on the adopted blockchain.
DApps (Decentralized Applications)
For a blockchain application to be considered a DApp it must be 1) Open source, code available to all 2) Decentralized, uses blockchain cryptographic tech 3) Incentive, must have tokens to fuel itself 4) Algorithm/Protocol, generates tokens and has a built-in consensus mechanism (mining/forging.)
There are 3 types of DApps, each basically piggybacks off the platform of the previous Type 1 – Have their own blockchain (like bitcoin) Type 2 – Use the blockchain of Type 1 DApps Type 3 – Use the protocol of Type 2 DApps
ICO (Initial Coin Offering)
Much like an IPO (Initial Public Offering) that offers stock in a private company to the public, an ICO raises money for new Cryptocurrency ventures. Typically, a minimum investment is required in the form of a cryptocurrency such as Bitcoin or Ether and the investor is given tokens of the cryptocurrency at a reduced cost. Due to the fact that ICO’s are so new, government agencies have not begun regulating these ventures making them extremely risky as anyone with a competent coder can create and market a cryptocurrency that can be used to swindle investors who aren’t cautious. The US government no longer allows its citizens to participate in ICO’s and if you are using a computer with an IP address located in the United States, ICO’s websites will not allow you to invest.
Research
1) Whitepapers – Each cryptocurrency will have their own dedicated websites and most will have a whitepaper that has a description of what their cryptocurrency is designed to do. 2) Roadmaps – Also on each cryptocurrency’s website, they tend to have a roadmap or timeline as to when they are planning to complete certain milestones be it added features to the blockchain or wallet or any other important events. 3) Coinmarketcap.com – List of every available cryptocurrency, the exchanges they trade on, market cap, trade volume, available tokens, newly created tokens etc. 4) Reddit.com (cryptocurrency subreddit) – Subreddits focused on cryptocurrency as well as specific subreddits focused on individual cryptocurrencies. Be cautious as many people on these sites are uninformed and/or are trying to manipulate the market by fooling others to buy or sell based on fraudulent information. 5) Bitcointalk.org – Forums specific to individual cryptocurrencies. There is a lot of self-marketing (bounties) on this site. Take what they say with a grain of salt 6) TwitteFacebook (Social Media) – Many times news from team members or the cryptocurrency’s social media page will break news before it is listed on any of the above-mentioned outlets. Find out who is working for the cryptocurrency you are interested in and start following the team’s social media. Don’t forget to look at their linkedin accounts if available, previous employment and behavioral history to confirm they are competent. 7) Github - Code from projects can be uploaded here and reviewed for issues and revisions.
Common Terms/Slang
Shilling – covert advertising, personally endorsing a token so as to manipulate the price to either recoup a loss or increase gains on a token the individual owns. FUD – Fear, Uncertainty, Doubt; another method to manipulate the price of a token the person owns by making others second guess their investment decision on a specific token. FOMO – Fear Of Missing Out; buying a token (usually after the price has already increased) hoping they haven’t missed the majority of a price increase. Shitcoin – A cryptocurrency that has become worthless overtime or a scam operation. To the Moon – Massive increase in a token’s price.
I'm sure there are probably revisions to be done on this as I am still getting my head around all of the concepts. Any help to this would be appreciated.
submitted by Truantlife to CryptoCurrency [link] [comments]

Cryptocurrencies and their Characteristics

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Get familiar with Ethereum, its founding principles and major improvements/limitations upon the initial Bitcoin Blockchain!
Did you know that due to the nature of the cryptographic community from which cryptocurrencies have been developed, it is only natural that the adoption of cryptocurrencies in the digital sphere has dwarfed that in the traditional business world? Cryptocurrency adoption has firmly permeated the online gaming sphere with offerings such as Experience points (XP) for purchasing incentives in games and educational content, as well as GameCredits (GAME), which aims to be a universal currency for gamers worldwide and STORM, a kind of Blockchain Mechanical Turk, a crowdsourcing Internet marketplace. In the online gambling space, Funfair (FUN) aims to be the go-to currency for all online gaming, and Edgeless (EDG) supposedly offers a gambling experience with no edge for the house, a project all gamblers would surely welcome and support.
Cryptocurrency projects have already provided use cases for conventional businesses and enabled existing commercial operations to improve their performance with the implementation of Blockchain technology. Thus far, Bitcoin is the cryptocurrency that has most readily made inroads into the public consciousness. Microsoft, for example, has begun to accept Bitcoin payments in Windows and XBox stores, and Expedia has teamed up with Coinbase to allow Bitcoin to be used to book hotel rooms. Much like Iconomy in the crypto asset management sphere, NapoleonX (NPX), is allowing crypto investors to buy into Decentralized autonomous funds which focus on conventional markets. As we have already covered, one of the main reasons that Blockchain technology is causing so much excitement is because of the great number of ways the technology might be developed and applied in business.
The Canadian-Russian boy genius named Vitalik Buterin first envisaged the next stage in Blockchain technology as a scripting language for Bitcoin. But this particular idea failed to reach a consensus with the community. That is what stimulated development of a totally new platform with a more general type of language. Initial development on the Ethereum project began in Spring 2014 with the core team of Vitalik Buterin, Mihai Alisie, Anthony DiIorio, and Charles Hoskinson, working through the Swiss company EthSuisse. Subsequently, the Ethereum Foundation was created in the run up to the July 2014 crowd sale. Then, the Ethereum project’s currency Ether was distributed to participants who purchased the token with Bitcoin.
The initial questions about the security of the project were proven to be warranted after an infamous entity called the DAO (Decentralized Autonomous Organization) led to the loss of $50 million of the $150 million dollars raised in the Ethereum crowdsale. The Ethereum Blockchain then underwent a very contentious hard fork resulting in the Ethereum, ETH, we know today being separated from its parent chain, Ethereum Classic, ETC. By the end of 2016, the Ethereum Blockchain had forked twice more resulting in increased DDoS protection, that de-bloated its Blockchain, and thwarted further spam attacks by hackers.
The true cost of the financial crisis for the world economy is still being calculated and may never actually be known, but conservative estimates put the cost at approximately $20,000 per America citizen. Satoshi Nakamoto, the anonymous creator of the most famous and infamous digital currency, sought to create a means of transmitting value that did not require a trusted third party to oversee the transaction or guarantee the value. By using distributed ledger technology on the Blockchain he laid the foundation for a trustless decentralized financial system that did not rely on central banks to mediate transactions. This is a “peer-to-peer version of electronic cash…. sent directly from one party to another without going through a financial institution”. With no trusted third party, each individual becomes a self-sovereign, one-person-bank, responsible for his or her own transactions and security.
The Ether token’s authenticity is guaranteed by its Blockchain, which is a continuously growing list of records connected and secured using cryptography. Like Bitcoin, the Ethereum Network is an open and distributed ledger that records transactions between two people in a confirmable and permanent way. The Ether token is superior to bitcoin in that its blocktime is approximately 15 seconds compared to 10 minutes with Bitcoin. Mining generates new coins at a usually consistent rate, and the average transaction cost in December 2017 was $0.33 compared to $23 for Bitcoin. As alluded to above, Ethereum initially aimed to become both a decentralized internet and a decentralized app store supporting a new kind of app (dapp). In order for the network to function correctly, a novel piece of code “ether” was created in order to pay for the computational power needed to run an application on the Ethereum network. Ether is a digital bearer asset like BTC, and does not need a third party to verify or mediate transactions. “ERC-20 Token: The Ethereum Request for Comment -20 token is standard set of rules used for smart contracts on the Ethereum Blockchain for executing new tokens. It defines a uniform set of rules on how a new token will function within the Ethereum Blockchain. The creation of this token has made it very easy for start-up companies to create their own token within the Ether ecosystem. That was a very significant advancement that caused the 2017 ICO boom in newly issued tokens.
Monero: This fork of Bitcoin is focused on privacy and decentralization. It obfuscates the sender and recipient’s addresses, as well as the amount of the transaction. The original Monero (the name is Esperanto for “coin”) author, Nicolas van Saberhagen, sought to make mining rewards more egalitarian as an additional benefit of being part of the Monero ecosystem. The very private nature of the Monero architecture, which mixes sender “ring signatures” with many others, makes the deciphering of the destination and recipient address increasingly difficult. This has made the Monero cryptocurrency the go-to coin for illicit transactions on the Dark web. There is, however, another way to look at this. Although Monero’s intensely private nature and deliberate obfuscation of transaction destinations and sources is undoubtedly used for criminal and corrupt purposes, the exact opposite effect may occur if its privacy characteristics are placed within the context of third world countries where corruption is already rife. In developing countries, it has proven much easier for people to obtain devices with an internet connection than it is for them to open a bank account. With 2 billion people worldwide without a bank account, much of them in Sub-Saharan Africa, privacy coins like Monero could play a key role in distributing aid to the needy without having to deal with any potentially corrupt and inefficient organizations or state institutions standing in between.
Ripple: Ripple is well-known as one of the very first big Blockchain projects. In fact, its predecessor, RipplePay dates all the way back to 2004. The modern version of the Ripple payment protocol (conceived by Jared McCaleb and built by Arthur Britto and David Schwartz) enables instant peer-to-peer transfer of money. The protocol and the facility to avoid the banking system, results in drastically reduced fees and transaction times compared to international transfers by conventional banking methods. Ripple is currently known as the cryptocurrency of the financial services industry, with major involvement by Santander, American Express and RBS, amongst many others. Ripple has also teamed up with Moneygram to speed up the process of cross-border payments. Ripple is aiming to send money across national lines “as quickly as information” in the words of its CEO Brad Garlinghouse. The almost laughable inefficiencies and delays in sending money to friends or loved ones in foreign countries is a major pain point for banking customers the world over. Now, with the implementation of Blockchain technology through Ripple’s XRapid initiative in partnership with Moneygram, international transfer times will go from being measured in days to being measured in seconds.
NEO: This is often described as the “Chinese Ethereum”. NEO is similar to Ethereum in that it is a Blockchain platform that is designed to be a scalable platform for the construction of decentralized applications. The NEO Blockchain project was founded by Da Hongfei in 2014. Like Ether (ETH) in the Ethereum network, the NEO token is the base asset of the NEO Blockchain. But unlike Ether, it is indivisible, and it accrues a GAS token when stored in a wallet. The GAS token can be used to pay transaction fees on the NEO Blockchain. The NEO cryptocurrency was rebranded from Antshares in 2017, and has started to produce highly successful ICOs on its platform, most notably Ontology (ONT) and RPX which will make use of the NEP-5 token. In the immediate aftermath of rebrand from Antshares, the all-encompassing vision of NEO 2.0 was laid out as follows: “We hope the platform can be used for different front-end scenarios, such as the Digital asset wallet, Forum, Voting, Profile management and Mobile applications. The platform also features an open API that can be used for integration with other systems.” One of the main alterations made to the NEO project was the addition of more up-to-date digital identity management protocols which employed Public Key Infrastructure(PKI)X.509 digital identity standards. NEO’s verification of identity when issuing digital identities includes fingerprint, voice and facial feature authentication methods.
IOTA’s code architecture is not in the same mold of Bitcoin or Ethereum, both of which could be described as existing on and making use of a Blockchain to order their transaction history. IOTA, and its token, the MIOTA, are embedded in a code structure called “The Tangle” which is a form of Direct Acyclic Graph data architecture. This particular architecture enables the code to function with no fixed block and each transaction carries its own proof of work. These types of transactions are enabled by “storing the most recent transactions in a fast cache, and by using checkpoints such that older transactions cannot be references. Thus, the system can be made as fast as Bitcoin, or faster”. IOTA’s main use case is for the transmission of information and value between Internet of Things enabled devices, in an automated manner. This project is truly one oriented toward the future, when many more IoT devices will be online, and there is a great need for such devices to communicate and transact without any human intervention. One weak point in DAG code architecture is that much less than a 51% attack is sufficient to compromise the network. It would be theoretically possible to bring about double spending on a DAG network with a 34% attack.
TenX (PAY) TenX was founded in 2014 as part of a PayPal incubator program. It sought to bridge the gap between Blockchain assets and everyday commerce, providing an efficient solution for the liquidity problems of many cryptocurrencies. The project will eventually be centered around a debit card that makes use of the COMIT protocol that enables many different Blockchains to interact with one another without having to issue a different token. That could be another milestone event in the crypto ecosystem. The project roadmap presented to investors began with the ICO in July 2017. They famously raised $34 Million in the first 7 minutes. The roadmap will conclude when they obtain their banking license in the middle of 2020. At that point they also aim to issue FIAT tokens fully backed and issued by a government. So far, the TenX project is on course to meet its stated targets. They brought out their highly rated IOS and web apps at the end of 2017. This serves as a fantastic example of how a well-run ICO can help both the investors and the startup streamline the capitalization process to the benefit of all parties involved.
Influence upon Traditional Merchants around the world. Due to the inherent volatility of cryptocurrency, the adoption of crypto payment methods by traditional businesses has generally been slower than in the online sphere. Although some major companies have in fact begun to come around to the idea of integrating digital currencies into their methods of accepting payments, the volatility of crypto is still a serious impediment for most. Microsoft has led the way by incorporating Bitcoin payment systems into the Window Store, as well as adding the ability for game players to purchase credit on the Xbox live network with Bitcoin. Overstock began accepting Bitcoin payments on January 9th, 2014, and saw a significant uptick in orders immediately. They received 900 new orders for $126,000 worth of BTC. Electronic retailer NewEgg, and online gaming site Zynga, also now take Bitcoin payments. There are even certain Subway outlets in South America that have started to accept Bitcoin as a method of payment too. On a far smaller scale, Coingate has partnered with Prestashop, to take Europe to the verge of a widescale cryptocurrency payment method. Merchants of any size need only apply for a Coingate account, and then have a crypto payment module installed, in order to accept payment in Bitcoin, BCash, Ether, Litecoin and nearly 50 other cryptocurrencies. The price is locked in immediately at the time of the transaction, which solves the volatility issue, and the whole process can be completed without the merchant having to deal in anything other than Euros. CryptoCredit card projects Monaco and TenX help to bridge the gap between the worlds of fiat and crypto, allowing a card holder to spend their cryptocurrency anywhere in the world.
Decentralization & Our Financial World In the Financial World, decentralization would radically alter the roles of, and creation of value by, our modern day ‘too-big-to-fail’ financial institutions. The capping of the supply of most major cryptocurrencies is itself an idea nothing short of revolutionary, in the truest sense of the word. All developed economies are oriented around a Central Bank that, through the system of fractional reserve banking, has power to create loans or investments and accept deposits, but is only required to hold reserves equal to 10% of its total liabilities. This in effect empowers central banks to print money as they see fit, a mechanism which gives central banks massive power in contemporary society. Any move toward decentralized ledgers, and any number of finite decentralized currencies, would upset the balance of power between central banks and the individual in a way that has never occurred before. The role of central banks in the economy, and the traditional means of solving common financial problems by having the central bank manipulate the money supply, for example, would need to be radically rethought. Consider the recently used machinations such as quantitative easing, negative interest rates, etc. These are present-day “solutions” that would no longer be able to be applied to the economic and financial problems they are attempting to solve.
If Blockchain technology was meaningfully deployed in the political arena it is conceivable that political corruption and vote-rigging could be severely curtailed or even eradicated. By providing a clear, transparent and incorruptible method of vote recording and counting, voter fraud and election rigging could be eliminated. The political climate could be detoxified and faith could be restored in both fledgling and established democracies. The idea of being able to present a publicly available digital ledger would allow journalists to maintain lists of sources that would be able to be shared between peers without compromising the source’s identity. The possibilities for the application of the Blockchain founding principles are truly revolutionary and just may be the largest leap forward for society since the computerization of the work force or the globalization of trade. The Cryptocurrency Ecosystem Overstock is a large e-commerce company that has successfully adopted a Blockchain solution for its business needs. The Silk Road was one of the most widely known early beneficiaries of the mass adoption of cryptocurrencies. Purpose of Cryptocurrencies -Ethereum was developed after the original creator’s suggested changes to Bitcoin were not implemented by the community. -Ethereum is a completely separate cryptocurrency. -DAO Hack & the Ether Token. -Monero, Ripple, NEO, Stellar & Iota. -Microsoft has begun to accept Bitcoin on the Xbox live network store.
If there is a wide-scale expansion of the mechanism of asset-tokenization we could see stocks, bonds, synthetic instruments and commodities being brought on-chain in the future. This would allow traditional assets to be easily integrated with smart contracts, and facilitate their interaction. This would cut down transaction times, and even more importantly, dramatically slash legal fees to a fraction of what they are today. It can cost up to $1,000 an hour or more to hire corporate lawyers to preside over a deal, draft contracts, or give advice on the intricacies of high finance. So, the potential savings involved for big businesses, if smart contracts and asset tokenization became the norm, is an amazing thing to think about at this time. The ASX is the first exchange in the world to implement a solution that would change the settlement of equities transactions from two days, to mere minutes. This radically changes how traders on both the buy and sell side, as well as companies, would be able to trade their securities, manage their risk and leverage their positions.
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