Satoshi Nakamoto, the anonymous creator of Bitcoin, is ...

Suggestions for a better Bomb community

Hello, Bombinos.

First of all, huge thanks to all the team, mods and people working on the project. I'm writing some suggestions aiming to organize and grow our community and increase awareness about the project. It's divided in three specific topics related to strategy, communities and marketing. But first, I'll suggest some aesthetic changes in this subreddit to make it look more friendly.
A) The font color in the topic on the front page is too dark in my desktop screen. The background is black and the font is dark gray, making it almost unreadable. It has to be changed to a lighter tone.
B) The text on the sidebar is incomplete. I made some alterations in the new text below.
"Bomb, the original and first deflationary currency experiment, was born after an airdrop in the end of 2018 aiming to answer one simple question: Can a deflationary cryptocurrency work as a store of value? The Bomb currency works by destroying 1% from every transaction recorded in the Ethereum blockchain. Only 1,000,000 tokens were minted. There will never be newly minted tokens."
C) The sidebar should include a price ticker similar to the one used in the Telegram group and include our etherscan address.
D) The sidebar should also include links to the Telegram and other communities.

1- Strategy:

A) First deflationary currency and importance of the Bomb Token against governments printing money.
The economist Friedrich Hayek from the Austrian school, in his acceptance speech titled "The Pretense of Knowledge" at the Swedish Nobel Academy, emphasized the importance of letting the economy free of government interference, specifically in the case of a continuous injection of additional amounts of money at points of the economic system where it creates a temporary demand, which generates a future imbalance after the artificial demand ceases. We are seeing this today with the interference of governments on the economies after the coronavirus. Trillions of dollars are being given to companies that don't have any idea how the consumers will react when the economies restart. The irrationality of the human behavior must be considered in this case, because there's no scientific theory to guarantee how the people will react after the restrictions are over.
With all this new money on the market, we are risking a long term inflation that devalues national currencies like we have never seen before. That's where a deflationary currency becomes important as a hedge against this anomaly created in the market and this enormous sum of new money.

B) Increasing the network effect to protect the asset
To have a chance against its competitors, Bomb must protect its network against copycats and bad actors. The best way to do this is to increase the number of holders and, subsequently, wallets, to squash the power of any holder to manipulate the price and even crash it. We have to protect our network the same way Bitcoin did, increasing the number of financially interested people to a point where it's not productive to manipulate the price.
Bomb has another quality that makes it prone to manipulation and volatility. One person (or entity) holding a lot of tokens can game the system using an exchange that runs off-chain transactions to crash the price. We are seeing this today. The transactions are happening but there's no burn and the price keeps going down. The only way to protect against this kind of bad actor is to increase the network effect and spread the tokens to a lot more holders, people interested in defending the currency.

C) Increase the total holders and wallets to improve liquidity in exchanges and awareness
Increasing the total number of holders would reduce the capacity of bad actors to wash trade. More people interested means more transactions, more transactions generate smaller spreads. Smaller spreads make it harder for bad actors to manipulate the price through wash trading.

D) Evaluate new listings or removing old ones
Yes, we need at least on more good exchange like Kraken. We should first wait for more holders before going after new listings. And we should look forward removing Bomb from bad exchanges.

2- Communities:

A) Focus decisions on Reddit and Telegram (only three communities: news, price discussion and Bombassadors) and sharing everything published on Facebook and Twitter.
Voting and decisions should be centralized in only one place. We can share the discussions everywhere else, but the voting and decisions must be centralized to one platform.

B) Elect mods to these communities to increase decentralization
I don't know how the Bombassadors program work, but we need to keep the current mods and choose new ones to run things more smoothly. Reddit and Telegram take a lot of time and we absolutely need more people.

3- Marketing:

A) Use the small war chest wisely because Bomb is deflationary and becomes more and more scarce by the minute. We have to extended the war chest as long as we can to reach a more valuable network.
Any marketing campaign must consider the increase in the network effect. We should focus on campaigns that attract outside interest. Example: each 15 days somebody could be rewarded with 50 bombs for an article shared on Reddit, Twiter, Facebook and 4chan. The prize must be voted and awarded to the best article that was shared, not only published.
Articles or content that eventually reach a lot of engagement could be awarded outside of this prize with 100 bombs, discretionarily, by the mods.

B) Use the funds only in campaigns that bring new people to the project instead of distributing it in the existing community to produce meaningless burns.
Again. Burning will not increase the network value. After meaningless burns we will have the same number of interested people, but less tokens on the market. This way Bomb will never reach the store of value status.

C) Reward people that generate quality content (like Pedro's 3D printed bombinos) and people that share this quality content and generate a lot of awareness.

D) All campaigns must answer positively the question: Does this increase the network effect and represents quality content?

E) Kill proposals that value meaningless token burns to create pumps.

F) Don't forget to have fun! Good memes could be rewarded every 15 days, after voting, with 20 bombs.

Suggestions are welcome. Let's find some common ground and move forward. And thanks for reading!
submitted by KazaCthulhu to BombToken [link] [comments]

Satoshi Nakamoto nominated for the Nobel Prize in Economic Sciences

Satoshi Nakamoto nominated for the Nobel Prize in Economic Sciences submitted by Coinosphere to Bitcoin [link] [comments]

Top-60 bitcoin/crypto quotes of the last decade, because reading them makes you feel good, and it feels good to feel good. Also one trading tip

First, number one trading tip for the next decade (in my opinion):

XXA/XLM trading pair, price is 5.20 XLM (0.3588 USD). Ixinium XXA is so undervalued right now. Target profit +300% for this year. Backet by precious metals. Precious metals 100% insured by Lloyd's of London. Target price levels for this year because of precious metals base value:
12.0 XLM (0.83 USD, +130.6%)
18.8 XLM (1.30 USD, +261.5%)
23.2 XLM (1.60 USD, +345.9%)
Price up since Coinmarketcap listing 7 days ago: 47.26%
XXA/XLM trading pair on Stellarport and StellarX exchanges with zero trading fee. It's not too late to become an Ixinium whale :)

My favorite bitcoin/crypto quotes, last ten years:

  1. Came into Bitcoin for the short-term dollar gains. Stayed in Bitcoin for the long-term bitcoin gains.

  1. Fiat addicts you to spending. Bitcoin addicts you to saving.

  1. There are 1,900x more dollars in existence today than there was less than a hundred years ago. Bitcoin has no top because fiat has no bottom.

  1. Most investors would be better off if they lost the password to their account and couldn’t log in for a few years.

  1. How I learned to stop worrying and love the bear market: Value your wealth in bitcoin not fiat.

  1. If I had a Bitcoin for every time someone asked me if I know who Satoshi is... I'd be Satoshi.

  1. Every second bitcoin stays out of the spotlight, is another second we get to build unopposed. We can't take this time for granted.

  1. You can't be excited about Bitcoin and fear the bear market. It's like being excited for Christmas but fearing winter. The bear market is a natural part of Bitcoin's mass adoption.

  1. Crypto is the only money that works on the internet. But it's also the only money that works in space. It's really expensive to bring gold bars to Mars.

  1. The fact that your normie friends don't think Bitcoin is cool yet is the reason why there is still massive upside potential.

  1. Feel free to print (fiat money) as much as you need, as I am already all in crypto.

  1. Satoshi walks in to a bar. Nobody knows.

  1. Fiat supply: unlimited. Gold supply: unknown. Bitcoin supply: 21 million.

  1. Most people still don’t know anything about Bitcoin except its price. But they don’t know why Bitcoin has a price in the first place. Hence the skepticism. When you don’t know why something has a price, it is impossible to understand how much it can really be worth.

  1. There can never be more than 17 million people who own 1 full bitcoin. But in practice, there will be far fewer.

  1. Internet allowed you to never have to go to the library. Bitcoin will allow you to never have to go to the bank.

  1. Google's CEO is Indian
Nokia's CEO is Indian
Adobe's CEO is Indian
Amazon's BOD is Indian
MasterCard's CEO is Indian
Microsoft's CEO is Indian
Pepsico's CEO was Indian indra nooyi
Nasa has 58% Indian employees
Do something towards $Btc bans in India! ENOUGH IS ENOUGH.

  1. When you trade trends, you can be the last person to join the trend & first person to leave the trend & you can still outperform everyone else in long term simply because others will keep guessing the tops & bottoms while you will keep riding confirmed trends.

  1. You don't need to fomo into positions, if you accumulate early.

  1. If your "financial advisor" doesn't advise you to buy crypto, fire 'em.

  1. Bitcoin doesn't care about your feelings. It also doesn't care about your gender, ethnicity, sexual preference or religion. Bitcoin just is.

  1. Want to prove to an investor that your crypto product is needed? Get people to use it. It is really hard to argue with usage.

  1. Is it possible to be a BTC maximalist and be Vegan? Asking for a friend..

  1. If you think that bitcoin is not going to the mainstream, think again.

  1. Most people don’t know what money is. This is why Bitcoin is still underrated. First, learn what money is. Then, you will be able to leverage the massive opportunity that is Bitcoin.

  1. If you think the people in charge know exactly what they’re doing, do nothing & continue on with your life. If you think those in charge may NOT actually be as smart as they want us to think, buy a little Bitcoin. The status quo is a bet on humans, but Bitcoin is a bet on math.

  1. Bitcoin is only risky to those who don’t understand it.

  1. Short term volatility doesn’t phase long term investors.

  1. If you manage your risk, your profits will take care of itself. If you don't, your parents will take care of you.

  1. For every person in the world, there are only 0.00225764 bitcoins.

  1. If you did your research, this bear market was expected. Bear or bull market, it’s business as usual for true Bitcoiners.

  1. For Bitcoin to succeed, the whole world doesn't need to understand its value proposition. Those who do will profit from its monetization. Those who don't will naturally adopt this better money.
Economic reality imposes itself onto the world whether you're aware of it or not.

  1. This is not financial advice. This is life advice. Buy Bitcoin.

  1. If Banks & Fiat are horse carriages, then Bitcoin isn't merely cars, it's fucking teleportation.

  1. How Bitcoin enables global prosperity:
Bitcoin makes you future-oriented
Bitcoin makes delaying gratification easier
Bitcoin makes saving & capital accumulation easier
Bitcoin makes investing easier
Bitcoin makes global trade easier
Bitcoin makes advancing civilization easier

  1. Bitcoin is the ultimate marshmallow experiment. People who are able to hodl for longer will tend to have better life outcomes.

  1. Other than your human time, Bitcoin is the scarcest thing on earth. Human time will become more abundant as life expectancy increases. Bitcoin, however, will only become scarcer.

  1. The energy cost of Bitcoin mining will pale in comparison to the improvements in the world’s productivity and prosperity that are enabled by Bitcoin.

  1. Pros of bear market:
-You can buy more Bitcoin
-Devs more productive than ever
-Weak hands driven out+hodler base strengthened
-Focus on fundamentals, not short-term price
-Overvalued shitcoins deflated
-Critical Infrastructure being built out, making next bull run even fiercer

  1. The more productive we are during the bear market, the harder Bitcoin will pump in the next bull market. Ignore short-term price action. Focus on Bitcoin fundamentals.

  1. Bitcoin bear market is the best time for buying, learning and staying miles ahead of the normies who will once again be late to the game and will buy the top.

  1. Before you invest in Bitcoin, invest in educating yourself about Bitcoin. Understanding Bitcoin will make your conviction much stronger and enable you to maximize your gains.

  1. There are 2 ways you can adopt Bitcoin:
  2. Early on & willingly-> result: allows you to capture upside as Bitcoin grows & becomes widely used or
  3. Much later & not having another choice-> result: failing to capture most upside from Bitcoin's monetization.
The choice is yours.

  1. The overwhelming majority of highly intelligent people I talk to still have no idea why Bitcoin is valuable. We are extremely early. The ability to identify opportunity before others and take advantage of the information asymmetry is key.

  1. Bitcoin will succeed with or without you. Don’t be left behind.

  1. In the 90s people couldn’t imagine that the Internet would replace newspapers, TV, phone calls, shops & many other things. Today, people can't imagine Bitcoin becoming mass adopted money. Bitcoin will do to money what Internet did to information. And money is a way bigger market.

  1. If every millionaire in the US wanted to have just 1 bitcoin they wouldn't be able to. There will always be fewer bitcoins than there are millionaires in the US (let alone the whole world). Ignore this at your own risk.

  1. The corporations & institutions that stand to lose from Bitcoin adoption are made up of individuals who stand to benefit massively from Bitcoin adoption. Realizing that every group or entity is made up of self-motivated individuals is key to realizing why Bitcoin will succeed.

  1. Bitcoin self-selects for people with:
* Low time preference
* Long attention span
* Commitment
* Authenticity
* Patience
* Persistence
* Ability to focus
* Ability to go against the mainstream
Bitcoin is a marathon, not a sprint.

  1. If you don’t have a deep understanding of:
  2. What money is
  3. Functions of money
  4. Monetary history
  5. Money properties that fulfill its various functions
Then don’t you dare criticize Bitcoin.

  1. Bitcoin doesn’t care:
- what color you are
- what sex you are
- what age you are
- what your religion is
- who your parents are
- which university/school you went to
- who you’re friends with
- how expensive your lawyer is
Bitcoin cannot discriminate.

  1. You chase money every single day. You stress over money all your life. You worship money.
But you have no idea why money is valuable. Money controls your life because you have no understanding of what it is. Once you ask yourself “What is money?”, Bitcoin will make sense.

  1. Satoshi Nakamoto deserves:
- Nobel Prize in Economics
- Nobel Peace Prize
- Nobel Prize in Physics
But thankfully the last thing Satoshi needs is the validation of the establishment.

  1. Bitcoin is doing better than corporations & altcoins though it never had:
- CEO
- Marketing
- Salaries
- ICO
- Partnerships
- Headquarters
- Customer support
Bitcoin is an emergent superorganism. Members contribute according to their ability, driven by passion more than greed.

  1. July 2011 - $31
- “Damn, I should've bought bitcoin earlier”
Apr 2013 - $266
- “Damn, I should've bought bitcoin earlier”
Nov 2013 - $1,242
- “Damn, I should've bought bitcoin earlier”
Dec 2017 - $19,891
- “Damn, I should've bought bitcoin earlier”
2022-2023 - ...
- “Damn..”

  1. Successful crypto trading boils down to correctly predicting how the whales will torture the normies next.

  1. Bitcoin doesn’t wait for anyone. It’s up to you if you want to learn this the hard way.

  1. Percentage of world using the Internet in 1995 = 0.4%
Percentage of world using the Internet in 2019 = 58.8%
Bitcoin is to money what the Internet is to information.
Percentage of world using Bitcoin in 2019 = 0.4%
If you thought you are late to Bitcoin, think again.

  1. I didn't choose the dollar.
I didn't choose the euro.
I didn't choose the pound.
I didn't choose the yen.
I didn't choose the ruble.
I didn't choose fractional reserve banking.
I didn't choose central banks.
I didn't choose quantitative easing.
I choose Bitcoin.

  1. Using Bitcoin
  2. Download wallet
  3. Receive funds
Using Banks
  1. Go to location
  2. Identification card
  3. Social Security #
  4. Hidden fees
  5. Initial deposit
  6. Proof of address
  7. Unreadable legal docs
  8. Wait a week for your funds
Which one will the next generation choose?

Many of these wisdom quotes are from the author of the new book called “This ₿ook Will Save You Time”, and he's donating all of the proceeds from the book sales to a Bitcoin developer.
submitted by crypto_trading_stats to CryptoCurrencyTrading [link] [comments]

17 Bitcoin Facts you Need to Know

17 Bitcoin Facts you Need to Know
Here are seventeen of the most important and interesting Bitcoin facts which should hopefully give you a basic understanding of this cryptic cryptocurrency!
1.We know who founded Bitcoin. . . but, not exactly
Bitcoin’s founder is Satoshi Nakamoto and (s)he is responsible for designing and engineering the entire project. But, that’s all we know. Satoshi Nakamoto is a pseudonym and, for all we know, could be a team of people. Whoever they are, their estimated worth is $16.5 billion in Bitcoin and they were nominated for a Nobel Prize in Economic Sciences in 2015.
2. Bitcoin is limited in number
The individual – or team – behind Bitcoin set a pre-defined amount of Bitcoin before the project was complete, which is 21 million. This number is slowly being approached and it is getting harder to ‘mine’ new Bitcoin each day.
3. New Bitcoin are created through ‘mining’
‘Mining’ is the very complicated process by which new Bitcoin are produced. Mining Bitcoin is analogous to mining gold; there is a finite amount of gold and the more it is mined, the more difficult and resource-intensive it is to find. This is the same with Bitcoin.
4. The FBI has a huge amount of Bitcoin kept in wallets
In fact, the FBI has one of the largest Bitcoin wallets, period. When Silk Road – the dark web marketplace for drugs – was shut down, they seized its owner’s assets which included a Bitcoin wallet which is reported to be worth over $100 million.
5. One of Bitcoin’s first transactions was for pizza
In May 2010, two pizzas costing $25 were purchased for 10,000 Bitcoin. In January 2018, the value of 10,000 Bitcoin was around the $150 million mark.
6. It is more powerful than 500 of the most powerful supercomputers
As the experts put it, Bitcoin’s network has a computing power of 2,046,364 Pflop/s which, when compared to the computing power of the world’s 500 most powerful supercomputers – 274 Pflop/s – is eye watering.
7. It is completely anonymous
It is not possible to find out the details of people you have sent Bitcoin too, or from whom you have received Bitcoin. When sending Bitcoin, a 34-character alphanumeric ‘address’ is used which cannot be traced. As a result, the industry that was the swiftest to adopt cryptocurrency payments was the online gambling scene. Bitcoin poker and general gambling without any territorial restrictions appeared practically overnight.
8. Private key, the only proof of ownership
The private key is the only proof of ownership that the bitcoin network recognizes. If in any case, the private key is lost, then the bitcoins will become unusable and it is equivalent to losing the coin. So, it is important that the private key is kept in a safe and secure place. Notably in an incident in the year 2013 saw one user, by the name of James Howells, claiming that he has lost 7500 bitcoins after he mistakenly discarded a hard drive that contained his private key. At that time, the Bitcoins were valued at $7.5 million! This situation could have been easily avoided had the user kept a backup of his private key.
9. Also, Bitcoin transfers are irreversible
Unlike PayPal where you can reverse transactions and file chargeback disputes, Bitcoin transactions are final. There are no second chances with Bitcoin, so you have to be sure you are ready to commit to your purchase.
10. It has made some people very rich
A Norwegian by the name of Kristoffer Koch invested $28USD into Bitcoin and promptly forgot about it. By the time he remembered he owned it, its value was worth more than $825,000. There are many more of these success stories too.
11. But, make sure you don’t lose your wallet
If you lose your Bitcoin wallet, it’s gone, end of story; it’s not like losing a debit card. Unfortunately, many people who bought Bitcoin in its early days have done just this and it is estimated that 64% of Bitcoin has never and will never be used because of this.
12. Bitcoin is not controlled by any single entity
Unlike national currencies which are controlled by national banking institutions, Bitcoin is not controlled by any one single person or entity. Instead, it is controlled by everyone who uses Bitcoin… confusing, eh!
13. It is completely transparent
Perhaps the most unique aspect of Bitcoin is that you can see all of the transactions; it is entirely transparent. Everything can be viewed on the blockchain and it is this openness and transparency which gives it such a high level of trust among the wider Bitcoin community.
14. Bitcoin can be sent with virtually no fees
If you were to transfer money from a bank in the US to a bank in Malaysia, you would probably have to pay bank transfer and currency conversion fees. With Bitcoin, there are no transaction fees and it is sent almost immediately – for about 10 minutes.
15. Bitcoin has a dark and suspicious past
Before it became popular in the mainstream, Bitcoin was largely used on the ‘dark web’ to fund illegal transactions. A popular example of this was something known as “The Assassination Market” where people could place bets in Bitcoin about a particular individual’s date of death. If somebody was to ‘guess’ correctly, they could collect a payoff!
16. Bitcoins are valued higher than gold!
The value of Bitcoins rose to such heights in the month of November 2013 that it exceeded the price of gold for the first time. It was again in March 2017 that the market value of an ounce of gold was surpassed by the value of bitcoins. The price of bitcoin surged to an all-time high of $1268.
17. Its legal status varies, too
There are a lot of questions when it comes to the legality of Bitcoin, and this varies from country to country. Some countries openly support Bitcoin, and there are others which don’t; there is a comprehensive list online which is kept updated to reflect each country’s individual position on the cryptocurrency.
Some countries such as the USA are even trying to regulate Bitcoin, but this has been met with widespread backlash from Bitcoin advocates.
We hope that cleared some things up for you!
Bitcoin may sound a little confusing at first, but it is a real currency which you can use to buy real things! Although it is not tangible in the sense of a dollar bill, there are still a wide variety of merchants (the number is always growing) who are willing to accept Bitcoin as payment for items.
It is not restricted to the internet, either. There are many physical stores who can accept Bitcoin payment in person using specially designed apps and software.
Source: Boomsbeat, Cryptocurrency News
https://preview.redd.it/28ze6sayili11.jpg?width=700&format=pjpg&auto=webp&s=4b7d466454ed36e41c9b05c05671464618a8f3be
submitted by Lumi_wallet to LumiWallet [link] [comments]

Does if matter if you believe Craig Wright is Satoshi?

Does it matter if CSW is Satoshi - NO DEFINITELY NOT . Does it matter if you believe CSW is Satoshi - YES. Under normal circumstances no, but these are not normal circumstances. We are getting a hard fork on 1 August. This means we will all have BCC and BTC in our wallet. You have a choice Sell one or the other or keep both. Where you end up depends on what you believe in. I believe that the BCC fork will survive and in the end will surpass the BTC chain.
1) CSW supports the BCC chain. He is nChain and they are introducing split chain and new op codes for Turing completeness 2) Replay protection on BCC chain
These people are serious and responsible, plus the system they use makes it fraud proof and opens the way for sharding.
These are enormous improvement to the Bitcoin protocol. Turing completeness was the whole reason for Ethereums' inception. Will this kill Ethereum? I believe it will. Means smart contract when they become useful can be perform on the most safe and secure chain. Ethereum is totally buggy. They are brushing aside the hacks and loss so far. But ask yourself. Will you put your bitcoin in a wallet if you know that there is a 1 in 1000 chance that you may lose your money? Even this possibility cannot justify any company to risk their shareholders money on the platform. They have a fiduciary duty not to take that kind of risk.
3) Sharding is the holy grail for Ethereum and they have not succeeded. Basically sharing the processing load on different computers. BCC adopts Bip143 style signature, which solves malleability and makes the system fraud proof, which is necessary for sharding. All these developments are on BCC and not BTC. Can they not be adopted? Sure they can, but Core have proven so far that they don't look outside their sphere. Plus they absolutely hate the big blockers.
4) What happens after the fork? The first thing is that BCC has bigger blocks while BTC will have 1MB for at least 3 months. So it will be cheaper to transact on BCC. This I believe is the biggest organic push by users to BCC and the miners and developers must follow the users. Also the people on the BTC side of the chain will always be arguing if the 2mb hard fork will be activated while te people on BCC will get on with business. You win by what you do not what you say.
Will BCC chain survive? What if it has low hash rate behind it? It will survive because the community sees the benefit of having a second option in case the first option fails. Means the big miners will not attack the BCC chain. And there will be a second chain because the people behind it are willing to mine the chain even though it is less profitable to do so.
So it is important on which chain you want to be on. You can sit and do nothing and all will be well but what if you want to spend some BTC? Are you going to spend your BCC or BTC? If you want to take a position, taking the wrong position means you will lose your money. So it is important if you believe CSW is Satoshi or not. Long term (6 months) both chain cannot survive one will wither and become an Alt.
Why I believe CSW is Satoshi It really does not matter if he is or is not, except to satisfy one's curiosity. But look at it this way. What does it take to be Satoshi? He must have very good grasp of programming, cryptography, game theory, Maths, Economics and Philosophy. Is Satoshi one person or a group. I argue that it is one person and he solve the Byzantine Generals problem, help by small group of people after the release of the software. You will also need to have a connection to these small group of people.
Solving the Byzantine General problem is what scientist call a hard problem. It is not obvious and the solution is worthy of the Nobel prize. So why did he release it anonymously? I think because he knew that if it did not get traction and adoption it will die either from within or without. He was worried about Wikileak using bitcoin before Bitcoin was ready. Attracting attention to it will surely get it stomp on by the authorities, and open himself to criminal prosecutions. Every other person who engaged in digital money up to then have had legal and criminal problems to content with. Can you count how many people dismiss it outright at first glance only to rediscover and adopt it later when it refuses to die.
Lastly, this is a gift to humanity. It takes a special kind of person to do that. One must have "lived". Such a person will be a contradiction. A complex person. One where the Yin and Yang flares up easily.
submitted by phanpp to btc [link] [comments]

BitcoinCore to BitcoinUnlimited decision

Dear CryptoCurrency community
After long fought indecision, I have finally decided to drop my support for Core.
Because I am worried about the following:
Taking the lessons from history for one, regarding how an idea always starts off in good intentions, but becomes corruptible in the end, the very words “all transactions are processed by a trusted third party, without having to broadcast them across the entire network”. (With that statement, it tells me its just going to go the way of the similarities with our traditional banking system!).
Don't get me wrong, I know there is no clear answer, as there are problems with BU as well, but I prefer the risk centralized mining any day (the two of greater evils) over a centralized company, processing transactions, off chain!. As this begs the question for new comers why bother with Bitcoin if Bitcoins transactions are being processed by a third party, isn't that just like what we have already with banking!. (The whole point of Bitcoin is NO trust is required and people processes and validate there own transactions e.g. ‘full’ nodes).
Remember: Satoshi Nakamoto has been nominated a noble prize for economics, thats for a good reason. (Going with CoreDev goes well away from his vision).
SegWit is one step to the next and so on, i.e. because SegWit ‘Modifies’ the block structure, that is dangerous in my opinion as the next steps can be manipulation of Bitcoin, especially with “third party trust” this is in favor of Gov and NSA control, Its now possible at that stage for Gov/NSA to implant monitoring code within blocks to have all Bitcoin users transactions monitored by the NSA, at that point nobody can do anything. (If SegWit gets its way, I can bet that Gov and NSA will actually start encouraging people to switch to Bitcoin as a means of mass surveillance!).
https://cointelegraph.com/explained/segwit-explained https://medium.com/@jonaldfyookball/an-open-letter-to-bitcoin-miners-c260467e1f0 https://falkvinge.net/2017/05/01/blockstream-patents-segwit-makes-pieces-fall-place/ http://www.businessinsider.com/bitcoin-inventor-satoshi-nakamoto-nominated-nobel-prize-economics-bhagwan-chodry-2015-11?r=UK&IR=T&IR=T https://www.eff.org/deeplinks/2016/07/blockstream-commits-patent-nonaggression
I really WANT to be completely WRONG on everything I said, but my gut is telling me I’m right!. So please do correct me the best you can! :D.
Personally I find BU much better, because I can actually 'map port' through the GUI (Cant do that with core, at least on Ubuntu, have to port forward!), You can set Bandwidth limits and set block sizes, You cant do that at all with Bitcoin Core! (I know you can set Bandwidth limits at least with Core, but is command based, NOT GUI and NOT user friendly for new comer!). (In my opinion if you run a wallet especially a 'full' node you should have more easier control over it!; BU is much better I find). The idea that its very buggy is more myth as its code is copied form Core and new code with BU developers aka copyright CoreDevs and BU Devs shown on startup of BU. I have had NO problems at all with BU.
Regards.
submitted by TXJQQVRF to CryptoCurrency [link] [comments]

Hayek Money: The Cryptocurrency Price Stability Solution

I've been working on the proposal for a cryptocurrency with an embedded smart monetary policy to ensure price stability
[url=http://ssrn.com/abstract=2425270]http://ssrn.com/abstract=2425270[/url] Last revision: May 8th 2014
Hayek Money: The Cryptocurrency Price Stability Solution
The Bitcoin protocol has enabled competition between digital cryptocurrencies and traditional legal tender fiat currencies. Despite impressive cryptocurrency adoption rate, dramatic deflationary price instability has thwarted affirmation of the cryptocurrency leadership. Price stability can be achieved by dynamically rebasing the outstanding amount of money: the number of currency units in every digital wallet is adjusted instead of each single unit changing its value. The apparent awkwardness of this new monetary policy paradigm is discussed at length, proving that its only real novelty is about fairness and effectiveness. The proposed monetary base adjustment has neutral impact on the overall wallet wealth, as it does not introduce any arbitrary distortion into the intrinsic value dynamics of the wallet. The adjustment is based on a commodity price index determined with a resilient consensus process that does not rely on central third party authorities. It is posited in this paper that a digital cryptocurrency adopting such monetary policy is Hayek Money, so named from the Nobel Prize-winning economist: namely the best money ever devised, the new good money standard providing stable prices for a new economic era.
Ferdinando M. Ametrano
submitted by Nando1970 to Bitcoin [link] [comments]

ICO review: Bankera. Your opinion?

Bankera will be a fully-digital bank without costly brick and mortar branches based on technology to reduce the number of counterparties, thus lowering the cost of banking for the end consumer. Bankera will support multiple cryptocurrencies like Bitcoin, Ethereum, Dash and others and will also offer low-cost investment products, such as exchange traded funds (ETFs) and crypto-funds denominated in “baskets,” as proposed by the Nobel prize-winning economist Robert J. Shiller. Bankera is operating within SpectroCoin economical umbrella Token Symbol: BNK Token supply: 7.5 billion tokens during ICO stage Total supply: 25 billion tokens Price: 0.017 Euro per token (first Softcap of 1bn) ICO Start date: 27. Nov 2017 ICO End date: 28 February 2018
Strong sides:

- Decent media coverage.

Weak sides:
submitted by ICOandCryptoNews to icocrypto [link] [comments]

ІCO review: Bankera. Your opinion?

Bankera will be a fully-digital bank without costly brick and mortar branches based on technology to reduce the number of counterparties, thus lowering the cost of banking for the end consumer. Bankera will support multiple cryptocurrencies like Bitcoin, Ethereum, Dash and others and will also offer low-cost investment products, such as exchange traded funds (ETFs) and crypto-funds denominated in “baskets,” as proposed by the Nobel prize-winning economist Robert J. Shiller. Bankera is operating within SpectroCoin economical umbrella Token Symbol: BNK Token supply: 7.5 billion tokens during ICO stage Total supply: 25 billion tokens Price: 0.017 Euro per token (first Softcap of 1bn) ICO Start date: 27. Nov 2017 ICO End date: 28 February 2018
Strong sides:
Bankera’s founding team already owns and operates a successful cryptocurrency exchange, e-wallet, prepaid card provider and payment processor under the brand name SpectroCoin. Since SpectroCoin already gives positive gross profits they re-invest capital into their second project to increase the scale by having more capital to meet capital adequacy requirements. The ICO will help Bankera to increase their loan portfolio potentially worth near a billion EUR. Bankera can relay on an existing client base. Bankera claims to have client base with over 535.300+ existing users. Holders of Bankera tokens on Spectrocoin and Bankera platforms will receive 20% of net transactional revenue share. Competent team and strong advisory board. For example: Long Wong The President of NEM.io members and Eva Kaili - a member of the European Parliament. Decent media coverage.
Weak sides:
Coin will be first listed on SpectroCoin exchange. It might negatively influence on the volume and result in a slow price growth in the short and mid-term. This problem will be solved within few days after ICO , once the token will be listed on exchanges with large daily volumes. Some countries and exchanges might consider this token as security which can become an obstacle and significant problem for the Bankera team. Large supply of 25 billion tokens. Some investors get scared by large supply numbers. Bankera's ICO already has a community of 16000+ pre-ICO and 14000+ ICO contributors, so people who are interested in quick cash-out and in dumping tokens as soon as they hit the exchanges will not have a huge impact on our long-term goal. Significant amount of competitors in the market. Legal vulnerability of the project. While some countries might allow operations with Bankera – other countries will enforce restrictions with blockchain banks. This problem might be resolved in the nearest several years though. +++++++
Our verdict: This is an interesting project that solves an existing market problem and offers original solution. Bankera has strong and experienced team with influential advisory team. In our opinion this project stands out among other blockchain-banks due to an existing customers base, financial ecosystem and competent team. We have some concerns over large token supply, existing competitors and legal part of the project. However, all these problems are solves if addressed correctly. We would recommend this project for those who look for long-term investments.
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Winner of Nobel Prize Economics about valu of bitcoin ... Bitcoin is a bubble: Nobel Laureate in Economics Noted Economist Paul Krugman Talks Bitcoin What would Milton Friedman say about Bitcoin? Mainstream Interest in BTC, Coinbase v. IRS, NASDAQ, Clown Car - Off Chain Daily 2017.11.30

Oliver Hart, for instance, is the Nobel Laurette who won the award in 2016 in the Economics category. His award was based on the work he was performing with regards to contract theory. Oliver recently made headlines when he made a suggestion that seemed to allude to the fact that Smart Contracts were not everything they had been hyped to be by ... Bitcoin's reclusive inventor Satoshi Nakamoto was chosen by finance professor from UCLA and University of Chicago Professor Bhagwan Chowdhry. He was asked by the Nobel Prize committee to nominate someone for the prize, and explained his choice to the Huffington Post. “I can barely think of another innovation in economics and finance in the last several decades whose influence surpasses the ... Almost 30 years ago, Nobel Prize-winning American economist Milton Friedman said he would like to have money controlled by a computer. He also said it would be a better world without the Federal Reserve. One of his two desires is already happening in the form of Bitcoin. In fact, he seems to have predicted its formidable rise in 1991. Nobel laureate Robert Shiller is fairly confident bitcoin will collapse, but he’s not quite sure when that collapse will occur. Shiller, a Yale University professor who won the Nobel Prize for Economics in 2013, told CNBC that bitcoin will likely “totally collapse and be forgotten,” although it could linger for as long as 100 years. Professor Robert Shiller, who received the 2013 Nobel prize in economics and is famous for the Case-Shiller Index, published an article on Monday talking about the way the allure of bitcoin fits previous attempts to reinvent money.

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Winner of Nobel Prize Economics about valu of bitcoin ...

Nobel laureate F. A. Hayek was one of the world’s leading free-market economists and social philosophers. In this video from 1984, Hayek is interviewed at the University of Freiburg in Germany ... "Robert Shiller, 2013 Nobel Prize winner in Economics, and an expert in the nature of market excesses, has come down on bitcoin and said that the tremendous jump of the virtual currency was a 100 ... Milton Friedman was one of the twentieth century’s most inspiring champions of individual liberty. He was the 1976 winner of the Nobel Prize in economics, and in this 1999 interview he spoke ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. In an interview with Business Insider, Nobel prize-winning economist Paul Krugman says that the rising price of cryptocurrency bitcoin is helped by the fact that no one understands it and are ...

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