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Ultimate glossary of crypto currency terms, acronyms and abbreviations

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


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

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

*New Story* Do autonomous trucks dream of CW McCall?

I've got some serial stories I'd like to tell about living with (and in) technology and the industry.
Do autonomous trucks dream of CW McCall?
Falstaff’s story
“For a bright shining moment, we added a lot of shareholder value”. Falstaff had a comic with that caption in his double sized cubicle, the kind reserved for senior engineers. For a while he thought it showed that he didn’t fully buy into the corporate line, but that he’d still do as he was told as long as he had a shot at the big payout. RSUs, the big acquisition. The end of year bonus. That was the deal in the before time, when things mostly worked out for most people it seemed.
Falstaff knew he wasn’t the smartest, but he didn’t complain, didn’t pick fights and lived pretty well. His bad habits didn’t impact his work life and he still might hit it big enough to quit and try something else. To have options.
Then everything happened at once. The fires. The diseases. The chaos. Nobody knew who was in charge for a year or so. Things came back. A few years passed and the wealthy parts of the coastal cities looked shiny again. Most people called it normal. To the casual eye, it was. You could still get sushi delivered to the office late at night, ski in the Rockies if you could take the time off. Things were pretty good if you stayed where you belonged and kept your metrics up. Things fell off as you went East or to the not-so-quaint rural areas that couldn’t swing a music festival or good photo opportunities for social media. Go far enough and you found the places where the Feds just walked away. Not our problem any more.
That’s how Falstaff saw the world and his place in it. He had’nt had much sleep. Drugs, risky behavior and the self-loathing kept him occupied, making his morning commute that much less pleasant. He stopped staring at the RVs and tents parked on the land next to the on-ramp as he got on the 101. He jabbed the infotainment system to find some noise to sooth or at least distract him.
“Today, the Department of Energy announced that repairs have been completed ahead of schedule for the Diablo Canyon Power Plant. Radiation levels are now below acceptable levels for the first time in three years”
Click.
“We’ve got an autonomous truck accident with a car by Exit 6 on the 280 Eastbound, so expect delays while CHP and a support team from Freightliner gets that cleaned up”
Click.
It didn’t work. He still felt adrift and unhappy in the morning commute, so he silenced the radio and drove to the office.
The office was uneventful. Park, security checkpoint, a long walk to his building, a coffee on the way to his cubicle. He pulled the privacy screen closed behind him and sat down. A quick scan of his eyes and there was his project- a payment processing application that would cut out another payment application for a small percentage of a massive stream of money.
He looked over last night’s chatter, split the tasks into ‘do the work’ and ‘show that I’m adding value’ categories.
The fear and sadness caught up with him. He wasn’t ever going to get out. If he ran as fast as he could, he’d stay exactly where he was until his rent outpaced his income. His stock options would vest just fast enough to keep him going, but he’d never get out.
The morning dragged. Tweak this, report this to someone else. The bureaucratic minutiae and make-work washed over him until lunch. He looked forward to lunch with Tran, hoping that might get him out of his funk. Tran wasn’t so much a friend as one of the few people who admitted how screwed up everything was, so there wasn’t any danger of speaking the obvious and getting a negative reputation.
Tran was out today, so Falstaff ate leftovers and instant noodles in his cubicle.
His phone buzzed. There was a message on MomTalk, a chat for wealthy mothers to discuss brunch, day drinking and their children.
An engineer friend of Falstaff’s set it up as a joke to lampoon the women she couldn’t stand and her friends played along, adopting over the top personae and complaining about nonexistent spouses and domestic staff. After things came back, it was a way to talk freely, if in code.
Heather: Hey. I’m in deep trouble. The Nanny’s unhappy and I need someone to pick up the kids.
Falstaff sighed. Tran must need something.
Sheila: Missed you for lunch. Not feeling well?
Heather: Serious. My kid is stuck under my desk and I need him to come home. UNDERSTAND? NOW!
Sheila:kk.
He got up, took his brown cardboard biodegradable instant noodle container and walked a few rows over to Tran’s cubicle. Where Falstaff’s cube was disorganized and well worn, Tran’s was sparse with better furniture. Falstaff felt under the desk and noticed a decal with one end loose. A quick pull and the label peeled off into his hand, along with a small flash memory card, the size of a fingernail.
He stood up and quickly looked up and down the aisle between the cubicles. Nobody noticed. Nobody really paid much attention to him on a good day unless they needed something from him anyway.
Back in his own cubicle, he went back to the chat:
Sheila: How urgent is this? Chip can have dinner with us or we can drop him off on the way to fencing class.
Heather:NO TIME. FAMILY’S HERE AND THINGS ARE TENSE.
Heather:RUN. GET OUT NOW.
Heather:REALLY.
Falstaff was concerned. Tran didn’t make jokes. Laughing at Falstaff’s attempts at humor was enough. He had figured that Tran’s talk of ‘having gangsters in his family’ was an attempt to seem dangerous despite being a cubicle denizen, the way middle aged men bought loud motorcycles that they never rode.
He folded the decal over the card, pressed the sides together and dropped it in the instant noodle cup, then pushed it down with the corn-plastic chopsticks.
The background chatter got quiet and multiple employees raised their heads prairie-dog like. Several members of the company security detail were looking through Tran’s cubicle. Geoff, the brush-cut ex-cop security guard for this building was standing in the aisle attempting to look like he mattered to the operation as the more polished and definitely better paid detail carefully boxed the contents of Tran’s cubicle.
Falstaff picked up his phone and noodle container and started walking towards an exit away from the commotion. Geoff noticed and walked briskly after him. As Falstaff walked out of the building, Geoff called out his real name, then jogged behind him, puffing his half a size too small corporate logo’d golf shirt.
Ironed golf shirt.
Falstaff heard Geoff behind him, but decided to ignore him. Geoff was a blue-badged contractor, safely ignored. Normally.
Geoff ran in front of him and blocked his path to the parking garage.
“You wouldn’t happen to know where Tran is, would you? I’ve seen you with him ”
Falstaff tapped on his white badge. “You’re not my real dad. You can’t tell me what to do”
Falstaff squeezed past him into the parking garage’s doorway.
Geoff glared at him while Falstaff got in his car and put the noodle carton in the fancy retracting cupholder. He started his car and drove off as calmly as he could manage. Despite his attempt at seeming indifferent, his mind was racing. He attempted to make good time without getting attention. Luckily, silver Porsches were a cliché and therefore almost invisible in the Valley.
Twenty minutes later, he was in his mid-grade two bedroom apartment overlooking the parking lot. His cat, Hank, greeted him with a raised head and half open eyes.
Falstaff gave the cat some perfunctory petting, while trying to sequence the next few tasks.
He went to the refrigerator in the kitchen, carrying the ramen cup in one hand. He selected a can of energy drink and thought for a second.
His smartwatch and phone went in the freezer. Fishing the wrapped memory card out of the cup, he picked up the can and walked to his couch, where a bestickered high end laptop rested. Debating between speed and security, he turned off networking on his laptop, then inserted the card into the laptop gingerly, mounting it read-only in case Tran left something aggressive on the card.
Huh. A couple really large encrypted files. And seven smaller files with long filenames of seemingly random numbers and letters. He ejected the card and gingerly placed it on the arm of the couch.
The file names were bitcoin addressses. A lookup showed a total value of almost $600 million in value there.
The files themselves were encrypted. Falstaff stared at the wall for a minute or two, then realized that Tran had decided to quit and take an unauthorized retirement bonus from their shared employer. Enough money to kill for.
Who knew about this, and more importantly, who knew Falstaff had the key? Tran did. Perhaps his gangster friends knew.
He pulled his phone out of the freezer. A few project related emails and three MomTalk direct messages.
Heather:???
Heather:Where y’at?
Heather:I have investors. They’re quite insistent. They’re on their way to you.
It was time to go. Now.
Falstaff put the laptop down and ran to his bedroom. He pawed through a closet and pulled out the giant duffel he used to carry two week’s laundry from his grad student apartment to the cheaper off-campus laundromat. He quickly shoved a variety of clothes, some scuffed hiking boots and some corporate branded technical outdoors gear into it.
Behind a shelf, he found a long, antiquated Russian bolt-action rifle and a few paper-wrapped boxes of bullets. It wasn’t the firearm someone on the run would want, but it’s what he had. It went into the duffle bag, which he dragged into the living room. Hank jumped down and inspected the bag.
“Hank, I’ll hook you up in a second”
A quick scour of the kitchen and Falstaff had two thick trashbags and a box of water jugs with his current employer’s old logo on them, which he emptied into the sink and turned on the faucet.
As the sink filled, he filled the trashbags with whatever looked useful- tools, hobby electronics, his laptop and cat food. He pulled out a fat stack of cash from the bottom of his drug stash box. He contemplated forced sobriety, then carefully closed the box and put it in the bag, along with the cash.
Don’t change everything at once, he thought. Now isn’t the time to risk sobriety.
Falstaff rummaged around in the hall closet and dug out a bright pink cat carrier and stuffed Hank into it, then turned to the overflowing sink in his kitchen. He opened and filled the bottles in what he hoped was an efficient use of time, then pushed them back into the box.
His phone buzzed again. He contemplated throwing it back in the freezer, then thought better of it, shoving it and the watch back in his pocket.
Hank started meowing.
“We’re not going to the vet today, dude. Shut it for now”
Falstaff looked out his window. Typical traffic. Typical parking lot. A few charging stations, a fence and tents on the other side. He opened the window and threw the bags into the bushes below. He picked up Hank’s carrier, his laptop and looked at the box of water bottles.
Wait. Stop. Think. Breathe.
Tran’s card. A minute of searching found where he left it on the couch. He stuck that in his pocket, then ran out of his apartment. He considered the elevator, then decided on the stairs as they were closer to the bags and his car.
A few minutes of pushing and shoving had the trash bags in the front trunk , the oversized duffle in the passenger seat and Hank’s carrier seat belted in the tiny back seat. He spun the tires and entered the flow of traffic, such as it was.
He looked at his phone. More people seemed to want a response. Ignoring them, he found the closest florist’s shop and fifteen minutes later, pulled into the strip mall that contained it.
A few minutes later, he was in possession of three “Birthday Balloon Extravaganzas”, finishing off the shop’s tank of helium and a bit of Falstaff’s cash. He tied the strings around his smartwatch and let it rise and drift past the confines of the parking lot. The hastily constructed wad of tape and ribbon connecting his phone to the other two Extravaganzas generated a more labored flight, but eventually it drifted away. He looked into the shop’s camera and flipped it the bird as he left and jumped back in his car.
Soon he was back on the road, relaxing with his elbow out the window. Despite the stop and go traffic, he felt safe enough to relax and make longer range plans. Even Hank had settled down for the moment. The hot air felt less oppressive somehow. He contemplated the right set of music for an escape from civilization, trying on a few genres to decide. The screen also showed that the freeway was less than a quarter mile on the right and traffic would be light.
Good.
Then he looked again at the screen and thought about antennas. His radio talked to the cell tower, which talked to the Internet. Every application knew where he was.
Which meant Tran’s investors or their ex-employer could know as well.
One hand on the wheel, he looked around for something to pull the radio out of the dashboard. Hank meowed.
“You have an idea? No? Please be quiet”
Rummaging around in the glove box, he noticed an old folding knife. Falstaff slowly pried the radio from the dashboard while occasionally looking up at the tailgate of a modern SUV ahead of him. Realizing there was a rear-facing camera on the SUV staring at him, he slid down below the dash as best he could.
A few more stop and go cycles and the radio was free of the dash. He unplugged cables by feel, but one took his attention away from the road while he pried at it with his knife
He was distracted by a horn blast by his ear. Another SUV was forcing itself into his lane while the driver gesticulated at him.
Falstaff reciprocated by waving angrily at him, knife still in hand. The driver of the SUV held the horn down, angering Falstaff enough to open the window and throw the now free radio at the noise.
Feeling the embarrassment, he jerked the wheel to the right and accelerated into the bicycle lane with a chirp of tires and howl from the engine behind him.
A minute later, he was on the highway, quickly leaving Silicon Valley. He hoped to make the Nevada line before anyone figured out what he was doing.
submitted by lawtechie to talesoflawtechie [link] [comments]

Some informative responses from Colin and Andy from the just-concluded Nano AMA at the Atomic Wallet Telegram group

The AMA ran today from 13:00 - 14:20 UTC, with Colin and Andy. I've copied over some of their responses that I found give me better insight into Nano. Their responses are in italics. Responses to different questions are separated by double spaces. Colin's responses are listed first, followed by Andy's. Sorry I couldn't copy over the questions as well. I've added my comments in places.
From Colin:
PoW coins have done a good marketing that the energy expenditure makes your coins more secure but it’s really unnecessory. PoW coins need to continue expending work because if they stop, their security parameter erodes.
Nano has no such problem, once an election for a transaction is complete, it’s confirmed. If it sits there it stays confirmed and it doesn’t need any extra effort. Wow, put that way, Bitcoin seems unsustainable in the long term when there is an alternative like Nano.

Yes the circulating supply is forever like this. The reason it can’t change is because nano transactions can only send your current balance or less to someone else, this means new coins can never be injected in to the system. Interesting design reason new Nano can't be minted.

Volatility is a focus with all cryptocurrencies and it comes from low volume, it’s not intrinsic to cryptocurrency itself. To cure low volume our focus is integrating it in to parts of the economy where it solves a problem, rather than just emulating credit cards etc.
Not having fees in the network puts us in a very good position for buying beer, for example. Typically credit card providers will charge 2-5% for a purchase, maybe even more, and it tight margin businesses that make 2-5% profit anyway, this is huge. A lot of Reddit discussion on crypto adoption considers only user experience and overlooks benefits to merchants.

Nano is purpose built to be the fastest and most decentralized currency around. Our transactions settle in less than 1 second and it’s all done on a network with no fees, and a tiny environmental footprint
Decentralization is an essential focus for us, many other cryptocurrencies can get fast or low cost, but they can’t also maintain decentralization which I think we do very well.
Well the sustainability comes from 2 main parts. We have a laser sharp focus on being the most efficient currency. This means our development stays focused and eventually the amount of things going in to the code base will trend downward; once we’ve achieved the goal we just have to make things more efficient.
The second part of sustainability is our Open Representative Voting which is our replacement for PoW mining. We saw the energy expenditure as something that would come in conflict with any system that would attain high adoption so our goal was to get the same or better decentralization benefits and also have a low energy footprint. We think we achieved that goal as our representatives are all over the world under many different organizations. A healthy decentralized representative set is good for long term sustainability.

And on the simplicity, nano is probably one of the easiest cryptocurrencies to use. There are no fees to calculate, the UX impact of entering a fee is greatly understated. How much should the fee be? Does my grandma know what network load is? What does it mean with respect to fee?
Nano simply has accounts and balances, you send and it lands in their wallet in less than a second, nothing can be simpler.

We’re not looking to expand in to defi right now. I have some reservations about it’s viability. One thing I’ve noticed in my many years of seeing technology evolution is to not try and change 2 things at once. We don’t want to simultaneously change the currency people use and also change how finances are done. First change the currency, then change the finances.
I think Libra suffers from a market mis-assesment. Essentially what they’re claiming is be a multi-currency bank account for every facebook user. Getting users electronic bank accounts isn’t a technology problem, it’s a regulatory and logistics problem. Since Facebook is essentially being a bank for people, they’re going to be required to comply with KYC requirements. Sending/receiving isn’t going to be open as it is in cryptocurrency because of AML requirements. People are not going to have access to the system in remote areas because how do they deposit or more importantly withdraw local currency from their Libra accounts.
I think privacy is a big concern with our transactions and credit card purchases and it’s only getting worse. Letting Facebook/Libra know all your purchase history I think is a huge mistake.
I think it also doesn’t fundamentally solve the central banking problem where they can print more money and inflate the currency supply. I see this behavior as a fundamentally unethical thing that cryptocurrency solves and Libra is taking a huge step back on that.
I don’t see anything compelling about it and I don’t see long term viability.

I think disk usage is going to be a low concern long term. The goal with Nano is to be a widely used commercial grade currency so the representatives will be banks and other financial institutions, universities, and tech companies. Considering how much youtube, instagram, and other social media data is created each day, I don’t think the ledger size will be a long-term limiting factor. Looks like the role of hobbyists in running nodes will diminish with widening adoption.

Nano’s value is being the fastest, most efficient currency around. Entreprenuers make use of natural market incentives / natural efficiencies to make money on a business.
Cryptocurrency has distorted that term a bit with something more closely resembling subsidies. The transaction fees and block rewards are subsidizing the security parameter and processing prioritization. PoW chains need this subsidy because their security parameter costs a lot. Additionally we’ve seen miners work to limit the network’s throughput in order to rent-seek on the limited transaction space. Damn, talk about unaligned incentives between users and miners.
The people we’re looking for are the entreprenuers that know how to make use of a faster, lower cost currency.

Yes, having a fixed supply is an essential component of currency. If people can add more currency to the system, they’re taking value away from everyone else in that process. It’s unfair and unethical.
1 Nano actually can be divided down very small so there’s no risk of not having enough coins.

In this response, Colin is addressing a question about Steem and other dPoS systems. One major difference with Nano consensus is: having more Nano does not get you more Nano, there are no rewards for holding Nano. Holding nano doesn’t give people voting privledges on network changes, or any other centralizing component associated with holding.
Another big difference is voting in nano does not produce blocks, it chooses between conflicting blocks that a user publishes. If you don’t attempt to double-spend, your transactions cannot be voted against.

From Andy:
1. The faucet did indeed seed Nano's amazing international communities, and the contributions from around the world to the project have been unbelievable over that last 2.5 years. Communities are still active, engaged and building 💪
2. The effects of Nano being added to the Atomic Wallet (and other multi-currency wallets) is two fold. It increases the accessibility and convenience of storing Nano alongside other coins and also helps to disperse voting weight across a wider spread of representatives - increasing decentralization!

We certainly feel that Nano possesses far and away the best fundamentals, democratic approach to decentralization, and user experience.
Being fully distributed and operating on a the mainnet since 2015 is also very important, and puts Nano way ahead of many other projects making bold claims about future potential.
Nano is here today, and works as one would expect the digital money would!

Privacy is an attractive proposition to users of digital money for obvious reasons, it can be very important. Our position towards privacy is more conservative as we have seen many more hurdles to mainstream adoption being put in front of privacy-based projects.
With that being said, there are eyes towards the technical implications of introducing privacy, but it is extremely difficult to do this without incurring slowdowns to settlement times.
Throughout 2019 we were able to make significant progress in helping some of the more well-established cryptocurrency services such as exchanges, fiat gateways, payment platforms, and wallets- like Atomic 😄, to understand and integrate Nano. This proliferation of Nano across the space has ensured that it is increasingly more convenient for users and merchants to access and begin using Nano for payments.
submitted by Live_Magnetic_Air to nanocurrency [link] [comments]

Massive List of BSV Apps (please comment for new ones or updates/errors etc...)

🔗 means app lives on-chain. i.e. the app/content is hosted on the blockchain, something we take great pride in with BSV.

Block Explorers

Communities

Content

Exchanges

Financial Services

Gaming & Entertainment

News

Onchain Storage

Search Engines

Merchants & Services

Freeview Video / Radio / Podcasts

Tried to list prominent channels, open to all ideas but don't want channels with 3 subscribers and 2 videos. Show your Proof of Work!

Streamanity Video Channels

TODO. Think it is important to separate Freeview (Youtube etc..) from Streaminity, for new people to the space who don't have BSV.

Wallets

Credit: For initial list http://agora.icu and some jim-btc webscraping ;) Pastebin here (to easily reply to any reddit post about lack of apps): https://pastebin.com/qyzf8z2c
submitted by jim-btc to bitcoincashSV [link] [comments]

The deconstruction of money: Prosperity when wealth ceases to exist

Here's a question to ponder: How do you conjure 300 billion dollar out of thin air? The answer, if you hadn't guessed it yet, is cryptocurrency. People used to laugh at this phenomenon, but they're not laughing anymore. They're feeling the same emotions about this phenomenon that I felt four years ago: They're worried and excited at the same time.
Bitcoin is a first, but not just in one domain. It's a first in most of its defining characteristics. We have witnessed the emergence of a means of exchange whose rate of inflation is predictable. Nobody can create more than 21 million Bitcoin, we can merely find ourselves disagreeing about the definition of a Bitcoin, which is starting to happen.
Despite its scarcity, Bitcoin has no intrinsic value. We're now beginning to discover that this doesn't matter, something most economists and academics had not anticipated. Just as an artist can earn money by shitting in a can, you can earn money by producing virtual currency. What we don't know yet is how far this phenomenon can grow. As of speaking, it gobbles up 0.1% of the world's electricity. As a means of doing anonymous transactions, it's pretty much useless compared to the alternatives that have succeeded Bitcoin.
In the worst case scenario, Bitcoin is like Microsoft or Facebook, in the sense that its network effect and early mover advantage allow it to eliminate all competition. This results in the dystopian scenarios I have frequently discussed before. In a more realistic scenario however, Bitcoin ceases to grow eventually. This makes more sense to me. Consider this: Would you invest in something that has grown in value 100-fold over the past two years? You would probably be wise enough to recognize that other investment options have more growth potential left. If enough people understand this, it becomes a self-fulfilling prophecy. If we assume that people buy Bitcoins to get rich quick, they'll stop buying them when it becomes clear it won't allow them to get rich. As a result, its value will eventually crash.
Note the difference between Bitcoin and Windows here. We're not using Windows because we think it has growth potential. We're using Windows because everyone else uses Windows and thus it's easier for us to communicate. You don't genuinely buy Bitcoin because you want to use it. You buy Bitcoin because you expect others will want to buy it from you at a higher price. To put this in simpler terms: If we use something merely because we expect its use will grow in the future, it can't come to dominate the market it's in.
To own Bitcoin means to forever have a sword of Damocles hanging over your head. You bought it because you expect its value to rise. At the same time, you are aware that it suffers from existential threats: Government intervention, a superior alternative taking over, a rush for the exit that the network can't process, a 51% attack, an unanticipated protocol flaw, an early adapter who wants to cash out. You're willing to take those risks when you expect its value may rise 100-fold. You're no longer willing to take those risks when you expect its value might double in the next ten years. The innate instability of Bitcoin ensures it will forever remain a niche phenomenon.
Here's a question to ponder: Why buy Bitcoin, if you and your friends can invent your own coin that you distribute among yourselves? If I had to choose between entering a country where all the land is owned by a small minority or entering a country where I can still freely stake a claim to my own land, I would choose the latter option. People throughout history have understood this principle, which is why small communities came up with their own currency systems.
The general trend throughout history has been that these alternative currency systems were destroyed by those who felt threatened by them. It's a little known fact that whenever local currencies emerge that seem to replace a government issued currency, governments tend to respond by shutting them down. It happened in Germany in 1931, it happened to the Liberty dollars in the United States and it happens in more situations, when the alternative currency becomes a threat.
Of course, alternative currencies rarely become a genuine threat to the status quo. The reason is because people can generally create new units out of thin air. Whatever institute issues the alternative currency has no means to prohibit you from doing so. Today, we know that this is no longer a valid issue, due to cryptocurrency. As a result, this controlled issuance allows people to interpret alternative currencies as having a genuine value, based on the expectation that they will be able to find someone to sell it to when they feel the need to.
What this means is a fantastic development for those of us who fear the extreme inequality we witness today. The nature of wealth is that it tends to accumulate. Those who are wealthy have the means to become wealthier, whereas those of us without wealth have no such means. Then eventually, when wealth has accumulated to extreme degrees, the elite has found itself in possession of most of the world's fertile land and natural resources. Then, those with their backs against the wall tend to rise up in revolt and exterminate the aristocracy.
Today, after the invention of cryptocurrency, revolutions work differently. When we see that the game is rigged against us, that you own everything there is to own, we cease acknowledging your protocol and set up our own. We don't participate in games that we can't win. We're unable to ignore land ownership, if you cling onto the land, you risk ending up beneath the guillotine. We're perfectly able however, to stop pretending that a Bitcoin is something more than a series of ones and zeros in a digital database. This outcome is already unfolding. Why is Bitcoin losing its dominant position in the ecosystem? Because people realize that the game is rigged against them. Most people are simply not dumb enough to spend 10,000 dollar to buy one bitcoin. Smart people look for other opportunities.
How does a revolution look? Consider what happened a few weeks ago, when Bitcoin ended up clogged and a competing protocol, Bitcoin Cash, suddenly grew enormously in value. This revolution was prematurely aborted, but the underlying issues have not been addressed. Bitcoin is still bumping up against its transaction capacity, wealth is still monopolized in the hands of a shrinking group, a single Bitcoin still has an intimidatingly high value to all but a small group of wealthy people who have no intention to actually use the currency. As a result, hedge-fund managers and trust fund kids are now buying first class tickets to board the Titanic.
Understand the following principle: The unequal distribution of a currency undermines its use value. A currency owned by a small group of wealthy people is subject to dramatic price fluctuations. The stock market suffered a sudden dramatic collapse in 1929, during an era when wealth inequality was at its most extreme. The reason is simple. If the distribution of an asset is extreme in its inequality, it becomes impossible to estimate the fair value of the asset.
This is the problem that Bitcoin inevitably suffers. The wealth inequality of Bitcoin increases over time, as hackers are able to steal Bitcoins, while those who find themselves wealthy all of a sudden tend to exit the scheme. As this unequal distribution grows worse, the instability of Bitcoin grows worse too. Economists have long known that wealth inequality and speculative bubbles go hand in hand. We see high prices right now for Bitcoin, but this is merely because nobody wants to exit at the moment. As soon as people want to leave the scheme, they'll find it's simply not possible at current prices. I expect that Bitcoin could see its price drop by 90% or more, over a period of days. People will find themselves unable to leave the scheme during such a period, because the transaction capacity on the network is limited.
When Bitcoin falls apart, people will see that the underlying technology has more genuine potential than this particular faulty implementation. As a result, another redistribution of wealth will take place. One important thing to understand is that currencies gain value because of broad use. Broad use is accomplished, by broad distribution. In its early days, everyone could mine bitcoins and everyone could use faucets where they were handed out for free. As a result, a core community emerged.
Note that the broad distribution that creates value does not have to contradict the unequal distribution that creates its high price. Value and price are not always well correlated. In regards to Bitcoin however, the more important point is that the currency grew in price by inheriting both characteristics: It's widely distributed, but most of the coins are actually held by a small minority. This small minority thus has a lot of wealth, on paper. They won't be able to actualize their wealth, if they tried to cash out the value of Bitcoin would take a plunge.
You will find that Bitcoin's role as a speculative bubble will be replaced by various competing technologies, but its role as a digital currency will be replaced by currencies that are broadly distributed. As an example of how this will work in the future, consider Clams. Clams are a digital currency with an egalitarian and wide distribution. Anyone who owned a range of currencies ended up owning Clams. This has proved to be free money, for people who paid attention. The project was abandoned by its developer, but it demonstrated the way forward for others. There are now various Bitcoin forks, that hand out their coins to entire swathes of the population, while handing out extra coins to its own developers. Those developers do end up profiting off their invention, simply because the wide distribution creates interest in the coin.
In contrast to what you might think, these various new currencies don't have to die out. In contrast to offline currencies, digital currencies can be extremely easily exchanged for one another. Merchants are able to accept coins they have never heard of for products they sell, simply because the underlying infrastructure is managed for them by third parties. So, what credible reason do people have to put their trust entirely in Bitcoin? The answer is simple: None. The herd has discovered Bitcoin, but the herd will consume it and bring about its demise, as the protocol can't scale.
But what if I'm wrong? What if Bitcoin can scale? Well, the answer to that question is simple: Bitcoin can't scale. A form of Bitcoin that can scale ceases to be Bitcoin. Bitcoin is characterized by 1 MB blocks, which limits transaction capacity to 3 transactions per second, which is a fraction of what credit card companies can handle per second. If Bitcoin increases its block size, a new currency comes into existence, that needs new software and would leave users who fail to update their software at risk of losing their coins. What about off-chain scaling? Off-chain scaling requires settlement on the 1 MB blockchain. As a result, those who plan to develop off-chain scaling methods admit that Bitcoin would need 133 MB blocks, simply to accomplish the goals they have set for it. The system can't function under those conditions.
What happens if Bitcoin does somehow develop off-chain scaling and starts to use 133 Mb blocks? The energy needed to mine Bitcoins increases dramatically. As a result, the number of people who can mine Bitcoin goes down, mining Bitcoin will only be an option for people in places with dramatically low energy prices. In addition, governments would be unlikely to accept having 90% of their national electricity use be devoted to mining Bitcoins. A currency that requires solving pointless computer problems to distribute it is a currency that remains forever a niche phenomenon. There will be no consensus around how to change the protocol, it will endlessly fracture until it renders itself obsolete.
Important to understand is that cryptocurrencies don't allow you to hold onto extreme wealth. Consider Bitcoin. In its early days, there were plenty of smart people who saw its potential. But if you're a billionaire, how would you use a currency worth less than your own net worth, to increase your own wealth? The answer is that you can't. Small projects grow the most, but small projects can't fit your wealth inside of them. The effect this has is that the extremely unequal global distribution of wealth we witness today will be rectified. The habit that extreme wealth has is that it doesn't survive dramatic changes to the status quo.
Until a few years ago, Bitcoin was the domain of basement dwelling NEETs and angry libertarian gun-nuts. But what we can do, anyone can do. If you live in a community that suffers poverty, you can set up your own currency that you use among each other and by virtue of the fact that you use it, it grows in value. What we have done with Bitcoin, has been done by other people too. If you don't think you can win under our rules, you change the rules and play your own game. There are now numerous currencies out there that have given birth to anonymous millionaires, while many more like me have made smaller fortunes.
As I have mentioned before, technology is a self-limiting phenomenon. Technology in its most advanced stages consumes its own niche and as a result leaves us off without the technology. With self-driving cars, the car starts to die out. With lab-grown meat, meat dies out. The Internet, destroyed the concept of possession. Why should I buy a car, if it idles 95% of the time? Why should I visit a hotel, if people can rent out their room to me? Why should I own a book, if the information I seek is accessible under my fingertips? Why should I even own anything? In Sillicon Valley, digital nomads live without any genuine possessions, other than a smartphone, a laptop and the clothing they wear.
What has remained off-limits so far, is the concept of wealth itself. The idea of wealth has survived the digital transition, even as everything else has been rendered obsolete. This is now coming to an end. We live in an era, where the concept of wealth is being deconstructed. One important principle in this observation is the issue of scarcity. Things have value, because demand for them is higher than their supply. In Estonia, Latvia and Lithuania, houses are practically for sale for free, because the population has declined by a quarter since the fall of the Soviet Union. How can physical space have a price when there is more of it than anyone needs? It can't. It can only have a price when a small elite is allowed to keep it off limits to the rest of us, without making use of it themselves.
But now, we face the finalization of the deconstruction of wealth. What does it mean to own anything? How can anything have value, if it is not scarce? Are you still wealthy, if your wealth must remain a secret? If you can't flaunt the fact that you're a millionaire, you can't genuinely be thought of as rich. Cryptomillionaires are men who have wealth they can't genuinely use. Under those conditions, the illusion of power begins to die. We see today that money is a joke. You can print money in your parents' basement and people will treat it as genuine money. The next step is the recognition that wealth is a joke. The society we are entering is one where wealth loses its relevance, until it eventually can't be defined. The very concept itself is ceasing to make sense. It is a nightmare we imposed upon ourselves and now we will no longer believe in it.
The history of civilization is the exchange of wealth for fertility. The man accumulates resources, passes those on to his male descendants and the men monopolize young women to disproportionately pass on their own genes to the next generation. This became possible, when the concept of ownership became possible. There exists no inequality, among hunter-gatherers who have no ability to press a claim to resources. In primitive communities where everyone lives near a river dense with fish, some men end up claiming "ownership" over the river and soon enough we witness hereditary castes, monarchs and inherited wealth. In the Kalahari desert, where people depend on animals that run around and Mongongo nuts that can be consumed, there is no property, as there is nothing to claim ownership over. You might claim ownership over a plot of desert, sure, but how will you enforce it? You can't and thus everyone is equal.
The concept of wealth had a nice run. It survived from the Neolithic revolution until the digital revolution, when it was rendered obsolete. It transformed young sturdy women with bows in their hands and hair on their legs into airbrushed trophy wives who sell their bodies to the highest bidders. What we know as a human being today is entirely corrupted by thousands of years of civilization, during which a corrupt aristocracy disproportionately passed on its genes and turned life itself into a cynical pursuit of material wealth. Today we are saying farewell to them.
Have you ever thought about what we are leaving behind us? In a society where social status is inherited, like in India, you eventually end up with hereditary underclasses who are made to carry around leaking baskets with human excrement on their heads. Alexandra Kollontai became a Marxist after her aristocratic parents prohibited her from marrying a man she met at university, an engineering student of modest means. In the society we are giving birth to, everyone is free to pursue his deepest passions and to make use of his full potential, with no noble birthright standing in between him and his vision.
Does this sound absurd to you? Over the top? Ridiculously optimistic? Well consider this: We have already gotten rid of the aristocracy. Western civilization used to be ruled by a hereditary caste that had complete control over society. The mechanization of agriculture in the 19th century and the abolition of the corn laws led to the demise of the aristocracies. The status quo could simply not be maintained. The concept of a republic, a nation not ruled by a king, was once utterly absurd. Books about the future written in the 18th century, like Samuel Madden's "Memoirs of the Twentieth Century", feature tall tales about religious theocracies in Italy and absolute monarchies in France. What none of them anticipated is that the kind of authoritarian systems they were familiar with could not sustain itself under modern conditions. It seemed as absurd to them that people could be ruled by anything other than inbred aristocrats, as it seems to you when I suggest to you that the concept of wealth itself is in the process of being rendered obsolete.
Eventually we will develop a form of society, where money and financial transactions themselves are an outdated nuisance, an inefficiency. Consider this: You're traveling by train and find out that you don't have a public transport card. As a result, the automated gates that stay closed unless you check in with a card won't open for you. You're hesitant to jump over them, because a camera records anyone who tries to sneak in. You walk to a machine that allows you to buy a card, then you charge the card with money and check in at the gates before entering the train.
Upon entering the train, you notice a man walks around who is tasked with ensuring that everyone bought a card. This is his job, his raison d'être. After the train arrives at its destination, you walk out, forget to check out and hurry back home, here you realize that you forgot to check out and money was automatically deducted from your account. You call the train company, wait ten minutes before someone picks up the phone and ask the lady on the other side of the line to send back the money that was excessively deducted from your card because you failed to check out. Does this sound like an efficient society to you?
Consider a simple fact: In most of Western civilization, we house the homeless and provide them medical care because it's cheaper than to have emaciated people wander around in shopping malls who scare off the tourists, steal bicycles and spread tuberculosis. People find themselves wealthier, by sharing some of their wealth with those who are worst off. It's a more efficient manner of running society, that happens to be in everyone's best interest. Economic inequality, is an economic inefficiency. We live in a non-zero sum game. That is, our current situation is unoptimal, the economy as a whole can benefit from having less economic inequality.
Now hear another plain fact: Your society punitively taxes your income, because you're not benefiting society by working a lot. If you work a 9 to 5 job, as most of us do, you get up, leave your house, get stuck in traffic, sit for 8 hours, which ensures chronic health problems down the line, then head back home during rush hour again. The reason you end up with a similar amount of money if you worked 32 hours, is because it happens to be in everyone's benefit. If you worked eight hours less every week, long-term unemployment would be prevented, because more people would be able to participate in the labor market. You would be able to pick up your kids from school, rather than sending them to daycare. Unless you're a genius, nobody benefits from you "working hard". That's why you're not earning more money from it.
So now you have to ask yourself another question: If society doesn't benefit from your "work", then it's time for you to plan ahead for a future in which it renders your work obsolete. What will you do with your life, when the rat race comes to a stop? What will you do, if the neighbor who watches TV for fourteen hours a day ends up driving the same kind of car as you? If you can't spend your time "getting ahead", then what will you do with your life? That's a question that I want you to ponder.
"Life will lose its meaning" You might say. But that's what all weak men believe who can't think outside of the paradigm they were born into. I live in a society where we no longer fight trench wars with neighboring countries or build colonial empires. My life doesn't feel less meaningful as a consequence. I live in a society where I'm not encouraged to go out and fight in defense of some fundamentalist cult. My life does not feel less meaningful. If I won't have to work to sustain myself, I will quite readily find the means to make my life meaningful. If anything, it would become easier for me to have a meaningful life.
There's always something that can be done. We don't get to it, because we're forced to earn a living for ourselves. All geniuses begin their career with an excessive amount of free time. How could Darwin come up with the theory of evolution? Because he was free to visit the Galapagos islands. Why do we have seaweed that tastes like bacon in the supermarket here in the Netherlands? Because a guy had it served on his platter while he was on vacation abroad. Steve Jobs spent his twenties sleeping on people's floors, smoking pot, dropping acid and visiting guru's in India. People are not creative when they have hoops held in front of them. Innovation happens when people are left free to fool around.
Most people are passionate about something. Even white working class men in early 20th century Western Europe who worked in factories had pigeons they trained and bred for races. When people have free time and more resources than they need to sustain themselves, wonderful things are produced. Those who think we need to be kept busy, have insufficient faith in man's ability to find meaning for himself. If people are nurtered well and treated with kindness, they are able to blossom and begin to improve the world they inhabit.
If people turn into television addicted zombies when their chains are removed, it is because they were left injured by society. Dogs used for medical experiments who have their cages opened are hesitant to step out onto the green grass too. I prefer to look at the examples I know, of people who do understand how to deal with this transition. I think back to a woman I knew, who was granted a small fortune because she survived a plane crash unscathed. She travels across Europe in an old Volkswagen van with her boyfriend, I ran into her at a party held by her friends at a squatted countryside manor. She dances in the night and loves without hesitation and her eyes radiate pure joy. It is clear to me that most people are not ready for the transformations that are upon us. They don't want to live at the end of history. They want to head back to what they knew. But at the end of the day, what you are looking at is nothing to be afraid of. It's just green grass.
submitted by moresourdough to accountt1234 [link] [comments]

The Best Experience of Gambling

The Best Experience of Gambling

Luckygames - The best bitcoin gambling site in network.
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House Edge: 1% (each hacked website)
Cryptocurrencies:
We have accepted 60 + Cryptocurrencies. The each user can find his favourite coin to play with. If you have any suggestion feel free to contact us.
Support:
If you have any questions or suggestions, feel free to contact us via support form
Our support working 24/7.
This post will be update with the next site update. Join today to our family. Best of luck playing!
submitted by SafeDuffel to BytecoinBCN [link] [comments]

around $60 in about a week and a half, $49 of that from one site.

Opinion Outpost fillout surveys for points, redeem points for paypal, amazon gift cards, frequent flyer miles, a couple of others that i don't recall cause i only cash out to paypal. 100 pts = $1 on paypal, and most surveys are around 15-25 pts, plus every so often you'll get bonus pts. i've earned and successfully cashed out $49 in a little over a week. no referral system to worry about, about an hour a day should be fine, i keep doin surveys til i run out for the day. heads up, a couple of them will say stuff like "select 3 out of 10 for this" just to make sure you aren't clicking wildly but thats rare. $10 minimum FIRST payout to paypal, $3 minimum after that, transfers to paypal within minutes. [Opinion Outpost](www.opinionoutpost.com)
the rest of this is ways to earn bitcoin, but since the value tends to fluctuate its hard to say how much you could make, but my bitcoin wallet is at about $15 (combined from these sources) since i started.
Land of Bitcoin this one will take you to tons of faucets and (loosely) keep track of when they are ready to dispense again. i would recommend hiding faucets that don't payout to a microwallet.org or coinbox.me account, which is just a handful, mostly so that you can more easily keep track of all your loose satoshi floating around out there. i suggest creating an account and leaving the main page open, you'll get more free satoshi and if the faucet ever stops just enter the captcha and more free comin your way. also earned a decent amount playing the Kate poker free-rolls, but just a heads up it didn't adjust for daylight savings so you'll have to check Kate Poker for when the freerolls actually start Referral Non Referral
Earn Crypto this one is a bit of a mixed bag, you have to be careful about the offers it has or you'll wind up with a bit of spyware and such. do the surveys and account creation stuff (on a throw away email) for easy "crypto points" which can then be exchanged for Bitcoin, Dogecoin, Litecoin, Peercoin, Namecoin, you pretty much name it, even Linden for second life, seriously. Avoid the "supersonicad" section and do the Peanut surveys or the Crowdflower tasks and watch the occasional video for the most "crypto points" ever 1000 crypto can be exchanged for you preferred coin. i got 1400 points for creating a fake turbotax account in about 15 seconds. AVOID any offers that want you to download something or check your credit scores, for pretty much anything else a throwaway email is all youll need but i STRONGLY recommend just stickin to the peanut lab surveys. Referral Non Referral
Bit Chest a simple temp wallet and a list of consistently paying faucets that you can use ever 30 minutes will earn you the minimum payout of 5000 satoshi in a bout a day with very little effort. no muss, no fuss, NO SIGNUP, just enter a bitcoin wallet address
Qoinpro this is the only true faucet i've found in my opinion, but if you are a bitcoin person its also the lowest paying, relying more on referral system to actually earn you something. this site pays you Bitcoin(0.00000001), Litecoin (0.00000030), Feathercoin (0.00002419), Fedoracoin (0.39141087), and infinitecoin (0.02272727), in small amounts every 24 hours. people are pushing for them to add dogecoin to the faucet but its not there yet if you're a dogeperson Referral Non Referral
Freebitcoinz 2000 free satoshi ever 24 hours for just entering 2 captcha's. quick and simple. for every 1000 a referral earns you earn an additonal 250 Referral Non Referral
update: just wanna say thanks to everyone who clicked on my various referrals :)
submitted by graavity81 to beermoney [link] [comments]

Bringing Litecoin to the masses

For those that thought xinxi's LTC envelopes were a step backwards... I wanted to assure you that it’s not. I've been privately mulling over ideas with LTC members on how to most efficiently get LTC into the hands of millions with little to no effort (or tech skills). Xinxi's idea is awesome and I think it could somehow merge with some thoughts I’ve been having. My sole focus is on distribution of this concept and the speed at which it occurs. Based on my firsthand experience in many developing countries I know there is a massive need for the unique utility that LTC provides.
THE PROBLEM - To obtain Litecoin you currently need to: A. Buy it online with dollars or other fiat B. Buy ASICS or mine a GPU coin C. Waste time with faucets that are a joke D. Exchange your labor with someone that actually has access to BTC
If we can bridge this gap it will result in the fastest acceptance of crypto we've ever seen. Imagine you're a 17-year-old living in Argentina with 1,500 pesos/month from a part time job with no bank account or debit/credit cards.
You... A. want to pay for some online items from the League of Legends cash shop or other digital services. B. you heard about Litecoin/Bitcoin and want to also save your money in a smartphone wallet for when you want to shop online again.
You walk to a local convenient store and ask for $20 worth of LTC. He hands you the LTC envelope or printed paper wallet and you hand him the cash and head home (or do it there). Open your phone, load up your LTC wallet and access the LTC. Send your LTC directly to League of Legends (in the future or convert it), then save the rest for later. These stores already carry phone/internet refill cards/SIM cards and international calling cards, so think of it like that.
Quick Concepts: (what I imagine when walking into one of these convenience stores) http://i.imgur.com/qUvtR66.jpg http://i.imgur.com/olE3rOt.jpg http://i.imgur.com/wYddnyk.jpg http://i.imgur.com/EniVbIV.jpg
This would be an amazing project if launched by the LTC association.
What the project should provide: (I imagine) 1. The envelope/paper wallet design to be used as cash. Would have a unique cut out pattern with graphics. 2. The informative material for the users to read when they see the sign for the first time. 3. The sign store owners could display for both interior and exterior use. 4. Possibly a video we could create for the project to explain to the store owner the functionality and why their customers will want/need this service. 5. A breakdown of how the store owner could generate additional income by providing this service at little to no cost to themselves. Let the free market decide whether they want to charge 1% or 5% over spot and the convenient stores could compete for the business in their local area. The store owner could find his or her exchange for their country and buy the coin to try offering the service to their customers. 6. This landing page could say select your country/language and auto convert all this material to their native language and potentially a design that fits each country (culturally). 7. Maybe a breakdown for the store owner and or users all the purposes they could have for using this free service.
Final thoughts are that Crypto ATMS seem like a dud and very expensive/difficult to deploy quickly. I know TONS of non-techie people that would easily throw $100 at LTC as a form of speculation if they could simply drive to a convenience store and hand them the cash (similar to a lotto ticket). From what I’ve seen, there are countless teenagers in Central and South America that want to buy things online such as digital or physical products or services, but they can’t since they have no bank/credit/debit cards and that’s sad.
If members of the LTC community could lend me their thoughts on this concept I’d love to hear them. I love the idea of xinxi’s special envelopes which could be used in this or if they could print everything out at their store (that could be more efficient). I already know this would be absolutely HUGE in developing countries, but maybe there are some variables/pieces I may have over looked
Let me know! Thanks guys :)
submitted by dballing1 to litecoin [link] [comments]

The Best Experience of Gambling

Luckygames - The best bitcoin gambling site in network.
Welcome to Luckygames, the Best Multicoin Gambling Site. The main goal is to bring you the greatest gambling experience ever with all the high-end features. We are always open for your feedbacks and suggestions that may help to improve ourselves and our favourite website.
Our Features:
★ 5 Awesome Games
★ 60 Cryptocurrencies Accepted
★ Low House Edge - 1%
★ Provably Fair System
★ Cryptocurrency Exchange
★ Affiliate Program
★ Free Tokens to play with
★ Store with Cool Items and Gifts
★ Contests with a Huge Prizes!
★ Faucet up to 2,000 Satoshis
★ Friendly Support
★ Online Chat
... and much more
Our Games:
Balls -
Description: Exclusive game, with exciting animation. There are 11 numbered balls in a row. The player is available to choose from 1 to 8 pcs. After choosing and betting, the magnet starts moving and pulls the winning ball.
Automated Betting: Available (4 Speeds + Mods)
Provably Fair: Available
House Edge: 1%
Min. Multiplier: 1.21x
Max. Multiplier: 10.89x
Min. Bet Amount: 1 Satoshi
Max. Bet Amount: 0.1 BTC
Dice -
Description: Well known Dice game with the highest multiplier available (99x) and Extremaly Fast automated betting support. The player is available to choose a number from 1 to 98 and a direction of prediction (UndeOver). After choosing and betting, the dice starts moving and choosing the lucky number. You win, if the lucky number hits the predicted range.
Automated Betting: Available (4 Speeds + Mods)
Provably Fair: Available
House Edge: 1%
Min. Multiplier: 1.01x
Max. Multiplier: 99.00x
Min. Bet Amount: 1 Satoshi
Max. Bet Amount: 0.1 BTC
Roulette -
Description: European roulette is the most player-friendly version of the game, with only a single zero on the wheel providing excellent odds for gamblers. The European roulette wheel has 37 divisions, where numbers from 1 to 36 and 0 can be found. Numbers from 1 to 36 are alternately colored in red and black, while the single zero is marked in green. Bet on where you think the ball will land by placing chips on the Roulette table and spin the roulette. Once the ball finds its way into the pocket with that particular number, the respective players get paid.
Automated Betting: Unavailable
Provably Fair: Available
House Edge: 1%
Min. Multiplier: 2.00x
Max. Multiplier: 36.00x
Min. Bet Amount: 1 Satoshi
Max. Bet Amount: 0.1 BTC
Cells -
Description: The first multiplayer game at Luckygames! Multiplayer means that other users may play on the same grid with you. There are 195 cells available. You can win up to 5 times of your bet. Each round generated with a fixed number of randomly placed rewards. New round starts, if at least 78 cells are opened.
Automated Betting: Unavailable
Provably Fair: Available
House Edge: 2% :
Min. Multiplier: 1.10x
Max. Multiplier: 5.00x
Min. Bet Amount: 1 Satoshi
Max. Bet Amount: 0.1 BTC****
Hacker -
Description: Imagine, that you are professional hacker! You need to hack as many websites as you can and escape before getting busted. There are 40 cells available. You can choose from 1 up to 38 websites to be hacked in a row. This game was created for the purpose of warning the real hackers not to abuse bugs or injections and report them to website administrator - you will be rewarded. Special thanks to the websites who joined this slogan and kindly agreed to provide their logos. Game Hacker is currently in BETA. You can use only LUCKY-token to play it.
Automated Betting: Unavailable
Provably Fair: Available
House Edge: 1% (each hacked website)
Cryptocurrencies:
We have accepted 60 + Cryptocurrencies. The each user can find his favourite coin to play with. If you have any suggestion feel free to contact us.
Support:
If you have any questions or suggestions, feel free to contact us via support form
Our support working 24/7.
This post will be update with the next site update. Join today to our family. Best of luck playing!
submitted by SafeDuffel to bitcore_btx [link] [comments]

High-risk Security vulnerabilities Left Unchecked Before the EOS Mainnet Countdown

Why BP Candidate Alliance Couldn’t Successfully Launch EOS Mainnet NO GO
!!!Final Warning From EOSForce.io!!!
This is a technical article for the developers of the BP candidate team and those interested in EOS security research.
As a team has conducted in-depth research on EOSIO software and has conducted extensive deployment testing, EOSForce.io has repeatedly warned the security risks of mainnet, and has fixed some problems identified already. Recently, as the research deepens, we have discovered more potential security risks, and some other BP candidate have begun to pay more attention to the safety of the mainnet.
We are going to reveal nine core security issues that still plague us up to now. We have made some preliminary solutions ourselves since Block.one claims not to be responsible for the security of any mainnet. We also attempt to help you understand why EOSForce.io's changes to EOSIO are necessary. If there is a better solution, we also hope that you could communicate with us and contribute to the safety of EOS. EOSForce.io promises not voting for the Block Producer, and will not start the mainnet until the public testing is completed. It is highly not recommended that users import private keys to activate mainnet assets before that.
In order to tackle the current troubles of EOS, EOSForce.io has made the latest precautions, hoping to start the EOS mainnet safely with minimum functionality. Then slowly release the corresponding functions after the formal verification of each restriction module and the large-scale test verification passed.
1st Problem: EOS proposes a resource-based mortgage model, but the implementation is far away from its original expectation. The public chains already in operation all use fee-based model.
There are two benefits of charging transaction fee:
  1. To prevent chain-level DDOS, it is well-known that the reason that Ethereum's POW test network is often attacked is testnet token has no value and there is no threshold to prevent chain-level attacks. The reasonable setting of each code gas price for Ethereum in the past is also on this purpose. Everyone knows that the best way to prevent DDOS is to enforce the cost of attacks much greater than the profits.
  2. Transaction fee can be used as a source of incentives to maintain the ecological stability of the entire chain. The Idea of ** EOS Based, Mortgage Model ** is innovative, free of charge, at the beginning everyone (including BM) expects to prevent DDOS via staking resources, and later expects to establish EOSraM and other related resource tokens to generate incentives. What solves the problem of transaction fees. However, the issue of transaction fee is only a bit of a connection between the System contract and bottom layer, and it does not meet the expectation. For developers, as long as you randomly launch a testnet, you can send transactions without any cost, which could verify the problem I mentioned. This is a fatal problem at chain level, far more severe than 360 "epic" traditional memory leak. As long as any person opens a computer, continuously to send batch transactions to EOS network. The network will fail.
EOSForce.io Prevention 1 :In response to this issue, EOSForce.io adds a price setting to each action based on EOS. At this moment, EOS has not implemented a fully opertional resource model, so we add a fee-based filter for transaction. When BM Master get it completely done, EOSForce could turn off the transaction fee filter and eventually prevent DDOS attacks through resources staking.
2nd Problem:EOS has a root user, which means that the super-privilege can be authenticated without a private key. Besides accounts that start with the characters eosio. are all quasi-super-authority accounts (there is already eosio now). This goes against the sacred inviolability of personal assets under the protection of private keys in the basic function of blockchain philosophy.
EOSForce.io Prevention 2: In response to this problem, EOSForce.io restricts the entire system to have only one privileged account, which is eosio, whose public key is all zero, the address is EOS1111111111111111111111111111111114T1Anm. No one owns or knows its private key.
3rd Problem: The design structure of the transaction is too complicated You can see the complete EOS block data we have extracted. A transaction in EOS could consist of an array of actions and multiple context free action arrays. Inline action could be added in the action , context free action does not require signature, and actions can contain a large number of inline actions. EOS is executed sequentially in action units. The transaction can also be delayed. All these designs are very innovative, thanks to BM. However, such a sophisticated system is too large and there are many points that can be attacked. Transaction with delayed transaction, an action could include multiple inline action. Such complex functionalities require long time, variety of case combinations and strong test validation.
EOSForce.io Prevention 3: We are also organizing a lot of teams to conduct testing and verification in this area. But for the safety of stakeholders, we enforce a transaction can only include a single action, limiting context free actions requiring no signature. After the successful implementation of various tests formal verification results, as well as large-scale case test verification, this layer of filter would be removed.
https://preview.redd.it/ql0ohafwyy211.jpg?width=898&format=pjpg&auto=webp&s=be2c53d8e04f3286af1d63d354d952dae46d3384
4th Problem: EOS queries such as get table query interface can not specify keyword query in batches Here I have to marvel at BM's technical genius. He uses multi plugin pluggable module programming. Multiple modules are single-rowed and can be accessed by each other. In addition, he also used the message bus microservice programming mode. As long as each module is interested in the corresponding message and registers the corresponding message bus, corresponding messages can be accepted. However, many of the query interfaces in these modules can only be queried in batches. When the data is small, it is acceptable. But when there are a million tps, such a query allow basically no machine to meet the need. Although --key is a field in EOS, it is always as the memo parameter in the transfer interface in EOS code, only has a name, no implementation.
EOSForce.io Prevention 4: Add-key A fixed-point small query by keyword.
5th Problem: The faucet plugin in EOS has been deprecated for a long time and it's broken now. This plugin allows users to register a user name through a third party.
EOSForce.io Prevention 5: Reactivate faucet plugin.
6th Problem: The instability of chainbase database. For instance, you could call the interface of chainbase and store the same data twice, then the program could core dump. The multiIndex table in the EOS contract also utilized chainbase. When you modified the different columns of the same row in a table, only the last update will be successful.
EOSForce.io Prevention 6: We would review seriously the code related to this issue as well as other problematic parts.
7th Problem: EOS wasm-jit was a direct fork of Andrew Scheideckers code for the past two years, as well as a fork of the official webassembly. There are so many bugs within which requires large-scale testing.
EOSForce.io Prevention 7: EOSForce.io creates a built-in system contract since the genesis block, making the system contracts genuinely. EOSForce.io also limits setcode, setabi interface.
8th Problem: EOS has no world state. If you want to know whether the chain has been forked, the only avaliable approach is the block-level verification.
For example: Node A and B have a same transaction list, that is, the blocks are all the same. However, the two nodes exxcuted two different databases store for each account and the chain is unknown to that. Possibility of attack: Although BM sets that only contract table owner has privilege to modify in apply_context.cpp. However, it cannot be ruled out that the table of different contract accounts cannot be directly done related state landing attack by constructing the corresponding key value externally. At this time, all the pieces in the chain are the same, but the state storage in each node will be different, even cover the corresponding table across accounts and change the status of different contract accounts.
EOSForce.io Prevention 8:Restricts the function of freely submitting code, they would be released after all of these have been formalized.
9th Problem: Unstability of mongodb, sql plugin. The mongodb plugin works before. After a while, they want to abandon mongodb and replace it with sqldb plugin. However, this change is deadly for eco-developers.
EOSForce.io Prevention 9: EOSForce.io is recruiting blockchain developers on a large scale. There will be better and more continuous updates to the filter module and database plugins.
Blockchain is not like traditional software development. Security and stability must be the first citizen in Blockchain world, otherwise everything is zero. Each vulnerability could incur a large-scale coin-losing accident, in which case even though the million TPS makes any sense. The security and stability cannot be overemphasized. We should extend performance and expand features on the basis of ensuring safety and stability. We believe in BM, and we also respect the brilliance of EOSIO that BM has brought us. However, it is impossible for any program to have no bugs. There are essential differences between block chain and centralized system. Centralized system's code update and data modification authority are entirely responsible by the centralized organization, and it is free to go online, find BUG, ​​fix BUG, ​​roll back data, offset account, high-speed iteration and other operations. But block chain can't seem to be bug-free, or it would go online without obvious BUG, the data on the chain is all related to the highest value user assets, even if 99% is no problem, there is still 1% risk, as long as there is any point or dimension that can be attacked, the block chain network will certainly fail, do not hold any chance. The EOSIO code has continued to iterate over the past year, especially in April and May. It has reduced the previous complex design, revised all the way to the 1.0 version released on 1st June, and few teams have conducted a complete test on EOSIO. The traditional security attack-defense operation and maintenance test can not be considered as a real test. What really needs to be tested is the voting process on the chain, resource-related issues, custom contracts, etc. This kind of test case needs to be written for several months. We all know that the number of Ethereum's test data and test scripts are several times of the codes themselves.
Today, the market value of EOS once reached 100 billion RMB, and the details are so numerous that it far exceeds the scale of Bitcoin and Ethereum when they went online. If the security of the chain itself cannot be guaranteed, the user's assets will shrink substantially or become zero. Block.one has always stressed officially that it will not be responsible for the security of EOS mainnet. EOSForce.io has done a lot of testing and repair of the significant risks inherent in EOSIO. No one dare to say that it is 100% safe at the moment. Now we sincerely invite all EOS community users, BP candidates, and third-party security teams to verify a secure EOS mainnet. It would go online after confirming that there are no major security risks. Welcome to login EOSForce.io to participate in the beta EOS mainnet. We pay tribute to Oracle chain, EOS Shenzhen and other teams that voted “No go”. There is no compromise on security issues.
submitted by EOSForce to u/EOSForce [link] [comments]

Long time lurker. Would really like to reach out finally. I'm the owner of www.dogecoinswag.com, and a Shibe since a few months after Dogecoin's creation. Please hear me out!

From Toronto good morning all,
For one second, I want to preach about Dogecoin. This place changes lives. It's a runaway force, predominantly driven by selfless people. I've watched the pains, and witnessed the highs. It always bounces back because we don't give up.
I believe it simply comes down to having the patience for eventual adoption, like with all innovative ideas throughout history. The Cryptocurrency community is full of those willing to take a bit of risk on something that could truly be an/their anchor in the long run.
For example, my long lost brotherly friend is currently installing a Bitcoin ATM machine into a prominent Canadian University, while he runs Miners and works at his 9-5 job.
This year I wined and dined my Dad seeking investment money to match the three to five thousand I was willing to sink into graphics cards that was coming eventually (great lunch, nothing really came from it though haha).
I believed in Cryptos when I first learned about them and eventually Dogecoin became my own personal home of all the Altcoins. Sorry to get all sappy and stuffff, but I can feel the spirit and faith in Dogecoin from so many of you. In the physical sense, I believe we are a collective conscious that cannot be destroyed for as long as the Internet exists. However the intangible is something of a credo that so many on here follow naturally. Kindergarten stuff like 'don't do harm to your fellow Shibe' and 'take care of your fellow Shibes.'
To be honest, I have gotten caught up with a new event management company and don't have the time to take on all these goals I've thought about a long time for Dogecoin and Cryptos as a whole.
One night the idea of creating a clean simple shopping site that aggregates everything from custom Dogecoin merchandise you find on variation sites like "Etsy" (search those Crafty people out there trying to earn a buck and use www.dogecoinswag.com to increase their traffic/revenue) to professionally made stickers, stuffed animals/plush toys, Dogecoin/Doge icecube trays, tshirts, rugs (wut?), bottles, skateboards, ANYTHING, as well as other goods we all love to find in an interesting novelty type shops (i.e. lasers to show where we landed on the Moon) that people can purchase with Cryptos and "Regular Currencies". The majority of Cash would be pumped into the Market and essentially buy up bulk as a community. Can you see the cycle?
I was planning on getting started before August 15th when the money finally comes in to try and help finance something like this to get the beginnings in motion.
Here's where I'd like to somehow offer www.dogecoinswag.com to be a crowd-surfing site. I need an agreed amount of us willing to volunteer and take on an operation like this as I don't know many things with IT, Law, and Manufacturing. I'm hard pressed for time/capital as this event management company is moving pretty quick. Stressful, but a good stress.
Money would be very fairly split with all of you who participate.. perhaps some wage machine like faucet that automatically pays per hour clocked in for hundreds of employees wanting to work (on tasks deemed at the same level.. throwing stuff at the wall here this early), or maybe just some few would rather take this project on. Open to all of your suggestions.
A fair portion of revenue generated from this site will go back to making a brand new faucet that is constantly being pumped as www.dogecoinswag.com hopefully takes off and earns a residual worth. Faucet giveaways would be constant, and the rewards ideally the highest of all faucets.
The other goal would be that I am seriously interested in being the person to get clubs, lounges, bars, festivals, etc. to accept Cryptocurrencies as regular payment. I have quite a few places right now that would certainly entertain the idea if they knew they could generate some new revenue.
Imagine the exposure to Cryptos when people find out that huge bottle service party on the side was paid for in Dogecoin/Bitcoin? When Dogecoin and Bitcoin begin to infiltrate people's R&R time, it will become more and more of something accepted as it really needs some "cool people" to call it "cool". Sure, let's pay for this Helicopter ride over Niagara Falls with, Dogecoin.
I'd like to build a club myself that I've designed already and this all leads to it. Of course Crypto would just be the standard in there. Basically I am saying that if you guys help get all of this stuff moving, eventually I could create a place that caters to clients using Cryptos and who knows, maybe it would be the first place if this actually takes off in time before we see that idea become a commonality.
I just came from Dogecoinbeg and after sorting by All-time and Top, posts I sadly noticed that the Beg threads were all fairly similar, and not really any "grandiose ideas". Grandiose is often a word that shuts down peoples' dreams. I didn't want to post in there for fear this would get buried.
Being dead serious and have about 7k+ before mid-August. It would be absolutely fantastic to talk about making what I think could be the home e-store for Dogecoin (Crypto as a whole?) paraphernalia among other goods, with people from all around the world.
I'm back in the event management type business for the second time now, and my anxiety is going off the wall. The often cruel and judgmental people in this industry got the best of me the first time around. This time around has too much now committed to not face everything head-on, and finally make this passion a reality.
What that random paragraph meant is that, I can't ease your skepticism that I won't screw you over, but I can tell you that I know how it feels to be screwed over.
I finally decided tonight that I'm okay with the potential that by creating this post, I end up having the idea taken. It's worth a shot for the potential of added positivity as I don't have my own the time/capital to dedicate to what a project like this truly needs. So, I invite you to team up with me. Help me do what we are known for and organize www.dogecoinswag.com as a group and we'll ALL grow together.
Have an awesome weekend Shibes, and thanks for all your consideration.
-Red
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submitted by dogecoinswag to dogecoin [link] [comments]

Why I believe fiat currencies are necessary and beneficial, explained in terms of three video games. Diablo II, World of Warcraft, and EVE Online.

An example, using Diablo II items

So even though you are willing to take a loss in perceived value, you cannot get the item you need because there are more factors than just estimated trade value. Namely, demand.

A fix, in World of Warcraft!

Fortunately, Blizzard noticed this, and added a fiat currency in World of Warcraft. You will notice that it does not have a trade issue like this one. Trade flows freely, and if you have the gold, you can get the item. It is a good thing that there is a high-resolution/fine grained fiat currency around to use as an intermediary. Had there been Note that it is the perceived value of gold as an exchange that matters, not the gold itself. It is what the gold can buy you. Not the gold itself. No matter how much you have, you cannot make an item out of it in World of Warcraft. Therefore it is a fiat currency in truth.

A PhD Economist in EVE Online

The only problems are keeping inflation and deflation in check so that the fiat currency is reasonably stable with respect to the value it is intended to represent. In WoW this is accomplished with "gold sinks" and "gold faucets". Examples of gold sinks include repairing gear, auction house fees, etc. Examples of faucets are crafting, killing beasts etc. Every MMO with a fiat currency must manage these system. EVE Online does the same. Except they went so far as to hire a PhD economist to keep watch over their economy! And he issues quarterly reports that every player can access! Good, nerdy stuff.

Coming back to reality

MMOs model the real world in boring ways to make them easy to understand, and fantasy worlds in ways that make them fun. Neither MMO has a major problem with its economy provided a watch is kept over it, and that both inflation and deflation are kept under control. In both games, this control is centralized at Blizzard and CCP, but they must keep the system controlled for the good of the players or else they quit playing the game and then that control over fiat currency does not matter one whit. If you do not play their game, their control does not matter, you can take your particular fiat currency elsewhere. Do I have to mention that both games accept currencies from all over the world? Hell, in EVE there is an easily found pretty strong exchange rate between InterStellar Kredits (ISK) and USD, based on the fact that you can legally buy game time codes, then sell them to other players for ISK. It is not allowed, within the game, to go the other way, though.

Bitcoin, the underdog

This is why there is inherently wrong with any fiat currency (note that this includes bitcoin!) over any other fiat in the world. It is in fact possibly better because the supply is fixed and distributed, everyone is allowed in, there are no fees, and trust is assured through vast computing resources, and it is decentralized, just like torrents, cloud hosting, distributed rendering, etc. We all know that those make the internet work better, so a decentralized fiat currency also makes sense. Especially if it is open source (and it is). Note that I am really not an expert on it as I have only read a little bit about it. Ask someone else who can speak to it better if you want to know more about bitcoin.
Note that I am not condoning it myself, that could land me in prison, I think! I have not researched it enough to see if there are any loopholes or major issues. But really smart people seem to think it is a good thing. I trust really smart people who think a lot more than I do not, and I know as a Computer Scientist that distributed systems are generally more scalable than centralized ones.
tl;dr: Fiat currency is Good™, but only when inflation and deflation are kept in dynamic equilibrium with the value they are intended to represent via faucets and sinks, and the system works for all of its participants equally
submitted by pathjumper to Economics [link] [comments]

Several Free Bitcoin Sites

If you would like to begin earning free bitcoin just follow the link provided, sign up, start earning bitcoin. Easy as that.. Refer your friends and get rewarded for their signup and for every satoshi they earn. Land of bit coin I just just sit there and leave the faucet open so that it's making bitcoins without me having to do anything.
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submitted by tjrediter to bitcoinreferrals [link] [comments]

Ore-mine guide

Ore-Mine Faucet Game Review
Ore-Mine Faucet Game Review
Faucet, Game, Passive
Ore-Mine Faucet Game Review
 Faucet Exchange
 February 9, 2015
19 Comments
Ore-Mine.com is an interesting concept that looks overwhelming but is actually rather simple. It is a faucet that works while you are away, but you will still need to check-in on it at least 1 time every 40 hours to collect the earnings generated every 8 hours. So let it tick over and earn for you, or get busy and promote, buy or gamble for upgrades that will increase your rate of return or add to your total bitcoin balance.
Below is a basic review and breakdown type guide. If you have even more experience and information on how features work, please share in the comments.
View the image gallery of screenshots at the bottom of the post.
Faucet Feature There is a timer that counts down 8 hours and then you will have 1 of 5 production spaces filled on each production line. There are 2 production lines, “Daily Bonus” and “Store”. If they are plain gray then there is nothing to collect. If there is an icon in there, then you can collect it by clicking on it.
Daily Bonus As the name suggests, it is a bonus. So after 8 hours you will receive a question mark “?”. When you click the question mark image you may receive a reward. You may receive Ore which will add to your BTC or a Coin which will add to your BTC balance or a Pick which will add to your Production. slot_question Ore Mine Ore Ore Mine Gold Ore Mine Pick
Store After 8 hours it will fill 1 square with an icon that will provide you with a reward. The reward value will be calculated on your “Referrals” and “Production” values.
Referrals If you like this system and want to share it, then make sure you use your referral link. Referring people will add to your mines production statistics and improve rewards. To find your referral link, click on “Referrals” in top right. The referral page has your “Partners Link” and your earnings from the people who have come in with your link. Your link will look something like the following, but you will have your own unique number on the end.
http://ore-mine.org/?r=80529
At the time of writing “Every active referred user will bring you 6% affiliate reward and +1 to the number of referrals. Invite your friends to Ore-Mine game and you will have more ore. Special offer: +1 production per user for the first 20 new users referred.”
Production This is where you can pay to speed things up. You can buy Production that will increase the reward value at the end of each 8 hour cycle. Purchasing Level 3 will also increase what you earn from your referrals too. The referral increase would be very handy if you have built up a number of people below you who have high production.
Deposit & Withdraw You can deposit existing bitcoins if you want to purchase upgrades or use the casino game. They display credit card logos that link to a page that provides details and a website, HowToBuyBitcoins.info, that maybe able to help you purchase bitcoins in your country and then deposit them on the site.
The withdraw feature look reasonably standard with added password check which might slow down any opportunists that might be on your PC. There is a withdrawal fee of 0.0005 BTC which is basically your minimum withdrawal amount.
Casino Game When logged into the Ore-Min you will see a link “Win The Jackpot” in the bottom left. Here you can gamble your funds on the mini game. You can select different “Lands” which will cost more to reveal, but the cost is relative to the prize. You will be hunting for crystals that if found, will multiply the amount you spent to open that square. It is gambling, and there is no guarantee you will get a return. They do not share what the odds are for winning.
They also highlight that you will receive 6% of what ever your referrals spend on this game, which is a nice bonus.
So if you like the idea, sign up today for free and make a start!
http://ore-mine.org/?r=80529
This is the welcome screen with the advertising blocked out This is the welcome screen with the advertising blocked out Registration is easy Registration is easy This is the core of the game This is the core of the game Deposit more BTC funds to improve your production or gamble Deposit more BTC funds to improve your production or gamble Withdraw your BTC earnings Withdraw your BTC earnings You can upgrade your mine to increase production You can upgrade your mine to increase production You can bet your earnings with this these mini games You can bet your earnings with this these mini games
submitted by RangerHammond to OREMINE [link] [comments]

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