New digital pyramid scheme from Africa Coin Trade & Mine

proprietary bitcoin miners: a pyramid scheme? help me out.

I haven't run any calculations, but as soon as I read a little about butterfly labs machine (on wired.com) the first thing in my head was "pyramid scheme". Now, the diminishing returns is built into bitcoin in the form of the fractional degeneration of the smallest mining load unit. Plus the more individual entities that are mining, the lower the odds of collecting per transaction processed. Now, that in and of itself is not what convinced me since this is by design and no individual entity can manipulate this, at least not to the exploitation of others. From what I understand, when you buy a miner you aren't mining as an individual, but are joining their mining collective and any coins you mine go into a pool that is shared among all pods. The hub organization still takes (assumedly) the same cut of every transaction, and the more members of the collective, the larger their profits. After a point which I'm assuming will shortly be reached the profits of the individual members will decrease as it grows (due also to the aformentioned diminishing return per transaction). Now, I don't believe those who would prosecute such offenses are tech saavy enough to recognize this as a traditional pyramid scheme, but if somebody does, I think someone might be going to jail for this. I don't think this applies to non-centralized collectives where the share is even per-machine.
*edit: i just saw that the current total of BTC's is already over half way to the limit. Off topic- I think the absolute limit is a flaw in the design, as the population will inevitably grow to the limit we will witness unsustainable reverse inflation. If you want inflation free, you need to mint new coins either at a fixed annual rate or proportional to population group. SOURCE: I'm a 3rd year physics phD student with a BS in math and a year of graduate level stats.
submitted by engelberteinstein to BitcoinMining [link] [comments]

HEX is basically a scam, a pyramid scheme

HEX is a cryptocurrency token built on Ethereum that promises infinity rewards for staking. In the official website, it says:
HEX IS NOT A PONZI.
Yes, I agree. It's not a Ponzi scam. It's a Pyramid scam.
In HEX, no one owes you anything. You mint your own HEX rewards yourself when you end your stake. Like how Bitcoin miners mint their own Bitcoin rewards. You are the network.
That's basically minting value out of thin air. Wow, maybe HEX has an angel backing it that loves to give away free money.
There are no middlemen or managers in HEX. HEX rewards are dynamic like Bitcoin mining rewards. No one in the world can promise you how much you might make running HEX, because no one knows how valuable HEX will become. HEX puts you in charge!
The funds in traditional banks can give interest because they use it to provide loans for businesses. Without anything of that sort, how the hell can HEX continue to provide "high interests"?
It's totally a Pyramid Scheme. It works by giving people a false hope that their money is going up in value. But they can't withdraw it as it is locked up.
It can go up and up by making stupid people believe the balance sheet they see in their portfolio is what they will get. It's basically utilizing the greed of people with the lure of more money without actually giving more money.
All the new money or interest is generated from inflation. It works by getting more people to buy it with referral programs. But when enough idiots of brought it, there won't be any more losers to refer to.
Hence, the pyramid will collapse.
submitted by littleboy0k to CryptoCurrency [link] [comments]

What nobody usually mentions about Bitcoin.

At current prices almost $13,000,000 of new bitcoins are mined every day. That almost $5 billion a year. These have to be absorbed constantly just to keep the price stable.
When the price drops like to 6500 or really any price, I think about all the new money needed to absorb the supply. I am always amazed it doesn’t drop more. From time to time I buy a little more when prices drop.
The halving will cut the current 1800 new bitcoins a day to 900. If the price goes to $20,000 that will be $18,000,000 a day after halving.
My point is this. I have no idea what price bitcoin will be next year or even in a few years. But I am exceedingly confident in the long term and every time the price drops but doesn’t continue to drop, it makes me realize just how strong bitcoin is, even with 1800 new bitcoins every day.
submitted by foomev2 to Bitcoin [link] [comments]

Why miners sell BTC got me thinking....

Since Grayscale bought 17,100 Bitcoins last week and only 900 is being produced daily, it made me wonder why miners sell.
The way I see it, the only reason miners or people in general sell BTC for fiat/alts
  1. Need of their native fiat currency to pay for electricity, food, security
  2. Altcoins to try to make more gains in fiat or try to pump and dump back into BTC (Unless they truly believe in that altcoin)
  3. Knowing the demand of another currency going rise (End of Feb. when Covid was announced everyone wanted the USD, an announcement of digital currency and banning BTC)
Once people start realizing the fixed supply of BTC is a good thing and that it is the most secure network, people would rather be paid in BTC. That is if we are continuing towards a digital world.
Now imagine if BTC was already mainstream and everyone defines it as Hard Money
  1. A portion of your BTC is used as currency to trade for goods and services like a debit card with Lighting integration and the other portion is kept in the main Vault
  2. Altcoins will be used for specific purposes (think of Chuck E. Cheese tokens, or privacy coins like Monero to access Ultra Porn) or pump and dump like always
  3. Physical Fiat or other types of currency will be used if the country or city is underdeveloped/Amish city/ Anti 5g Land
When I was first introduced to Bitcoin in 2015 the person talking sounded like a salesman and thought it was a pyramid scheme or scam. Then i bought in during the hype and sold at a loss because oh this thing was going to die. But it didn't die and went back up to 6k. It made me wonder why would people still want it if it was a scam. And that's when i discovered the truth about money.
submitted by nyess to Bitcoin [link] [comments]

Why Ethereum Problems Make UMI the Flagship Among the New Generation Cryptocurrencies

Why Ethereum Problems Make UMI the Flagship Among the New Generation Cryptocurrencies

https://preview.redd.it/8skuypxp9lj51.jpg?width=1023&format=pjpg&auto=webp&s=ba5a38ba592428f92dc7c1943a780ff127132875
Ethereum cryptocurrency that comes second in terms of capitalization on the crypto market is traditionally seen as fast and profitable. However, over the last few weeks it's had a rough patch. Since early August, the network has had huge queues of transactions pending processing while fees have skyrocketed and surpassed the historical high.
The main issue though is that even fees of a few dollars per transfer don't help get rid of the“traffic jams”. The cause of this is numerous DeFi projects and a huge number of financial pyramids based on the Ethereum platform. Both generate excessive load on the network.
The situation is downright unpleasant, and our users might question whether the UMI network could face a similar challenge? We'd like to assure you it could not. The UMI network is by default protected against these problems — it cannot have “traffic jams”, fees or financial pyramids. But first things first.
How has the Ethereum network ground to a halt?
In its report dated August 4, Arcane Research that provides analysis within the field of cryptocurrency stated that over the previous week the daily size of transaction fees in the Ethereum network has surged up to a record high for over two and a half years. On August 3, the median value #%D0%9F%D1%80%D0%B8%D0%BC%D0%B5%D1%80_%D0%B8%D1%81%D0%BF%D0%BE%D0%BB%D1%8C%D0%B7%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D1%8F)of the fee amounted to $0.82, with the overall amount of transaction fees totaling $2 mln. However, it only signaled the start of real problems.
Over the next week, fees continued to grow and by August 11 the median fee value almost doubled equaling $1.57. Larry Cermak, an expert at a big analytical and news-making crypto portal The Block, wrote in his August 15 tweet that over a week the total amount of transaction fees in the Ethereum network totaled $34.5 mln, having surpassed its historical high. Meanwhile, in the Bitcoin network that is seen as too expensive the fees were almost four times lower at $9 mln.
The total fee amount paid by cryptocurrency users over a week:
  • Ethereum — $34.5 mln;
  • Bitcoin — $9 mln;
  • Monero — $2,240;
  • Tezos — $1,876;
  • Cardano — $1,615;
  • XRP — $1,138;
  • BSV — $1,102;
  • Stellar — $1,059;
  • Bitcoin Cash — $1,027;
  • UMI — $0. Let's talk about it a little later.

https://preview.redd.it/z9azd9v6alj51.png?width=1600&format=png&auto=webp&s=25c365d6e14665ecda4a2b8d19b2fc57dd5cde1e
Historical Growth Chart for Ethereum Fees. Source
The existing situation shows that Ethereum is actually not as fast and profitable as commonly cited. Additionally, this could happen to almost any cryptocurrency except UMI that charges no fees whatsoever. We will tell you why.
Why have these problems emerged?
There is nothing unoriginal: the Ethereum network simply can't handle an increased load. Arcane Research analysts consider that a principal cause of this situation is the constantly increasing number of the DeFi ecosystem projects built on the Ethereum blockchain. Their number is growing all the time which causes the overload of the network. As of August 12, the total amount of funds in DeFi applications reached $4.3 billion which is 19.5% higher than that in the past week. At the time of writing this article, the amount surged to $6.21 billion. You can see the current data here. What is the most unpleasant about DeFi protocols is that a lot of them are scam projects.
Which is not the worst part though. There is also another factor that significantly slows down the Ethereum network. There are a lot of pyramid-like projects that are built on the EOS platform and use smart contracts. One of them is SmartWay Forsage, which regularly overloads the network with a large number of transactions, causes traffic jams, and, consequently, leads to increased fees (keep in mind that Ethereum miners choose transactions with a higher commission). Vitalik Buterin, the co-founder of Ethereum, revealed his disapproval of the SmartWay Forsage methodology and asked them to "leave and not pollute Ethereum ecology in the future". However, the project is slow to do this — it continues to deceive users.
This is only the tip of the iceberg of scam projects which abounds on the EOS network –– they continually emerge, work for a while, then go down as scams and are replaced with new ones. This never-ending stream of "investment projects" based on the Ponzi scheme overloads the system. This is the reason why Adam Back, a pioneer of the crypto industry and founder of the technology company Blockstream, equated Ethereum with such infamous projects as Onecoin and Bitconnect. Adam Back's solid dig at Ethereum became the subject of much debate among crypto enthusiasts.
Of course, it all doesn't mean that Ethereum is a bad cryptocurrency. On the contrary, it has a lot of advantages over other coins. But all that has happened exposes Ethereum's faults which must be eliminated. The problem is that they may not be fixable. It is far from certain that the developers will be able to get rid of all the defects as the system has huge scalability problems.
The crypto community has to admit that Ethereum, like other first-generation cryptocurrencies, has issues with capacity, fees, and scalability and is gradually becoming obsolete.
2020 is the time for young innovative cryptocurrencies such as UMI.
UMI is the flagship of new-generation cryptocurrencies.
In real fact, any cryptocurrency could face it. Each cryptocurrency charges fees which typically surge when the network is overloaded or the price is going up. Everyone will remember 2017 when in line with price growth and the network's overload Bitcoin transaction fee reached a high of around $40.
But when it comes to UMI, it works the other way round. The UMI network's advantages are high capacity, no fees, and scaling possibilities. It uses the best and fastest crypto industry solutions and excludes all inefficient methods by default. Smart optimization in combination with the Proof-of-Authority technology operating on the master node basis enables almost instant payments.
At the stage of network testing, an incredibly high capacity was achieved:
  • up to 4,369 transactions per second;
  • up to 262,140 transactions per minute;
  • up to 15,728,400 transactions per hour;
  • up to 377,481,600 transactions per day.
Ethereum processes about 20 transactions per second. It means that the UMI network can process transactions that Ethereum processes over a year in 1 to 5 days — and with no fees.
https://preview.redd.it/rwohnov3alj51.png?width=1125&format=png&auto=webp&s=4329b75c0bd8b7a22276b529f5ca433d17a0874f
The UMI network can process transactions that Ethereum processes over a year in a few days and with no fees. More details
What is more important is that less than 0.001% of the network's overall potential is used now. The UMI network has a lot of reserve capacity and can handle hundreds of thousands of times heavier load. Moreover, with scaling possibilities, UMI can keep up with the times. The UMI code ensures the safe introduction of any upgrades — the network can be easily modified and scaled with cutting edge technology solutions. In other words, traffic jams will never pose a problem for us. UMI will instantly process all transactions, with no fees. Always.
https://preview.redd.it/t0068th0alj51.png?width=544&format=png&auto=webp&s=019f46ec8c093480c4638cf098312a5a146134a8
A real-time speedometer displays the number of transactions processed by the UMI network per second. Link
Additionally, unlike Ethereum and other cryptocurrencies, the UMI's staking smart contract prevents possibilities of any pyramid schemes, meaning eliminates their negative influence. Our staking is completely safe and secured against scammers. Read more about this in our article. Any UMI staking structure could work forever. In other words, you can multiply your coins at a rate of up to 40% per month for an indefinitely long period of time.
UMI doesn't inherit the disadvantages of the first-generation cryptocurrencies. This is an innovative, carefully designed network based on state-of-the-art technologies. UMI is an ambitious step toward the future. And we're making it together right now!
Sincerely yours, UMI team
submitted by UMITop to u/UMITop [link] [comments]

Pi Coin Minepi.com Pi Network Review: Minepi.com Pi Network Scam or Legit? Real or Fake? Genuine or Fraud?

Pi Network is already online from March 2019 but still, it is not listed in Tracked Listing at CoinMarketCap.com.
However, even if it manages to be on the Tracked Listing at CoinMarketCap, still we have a doubt it will be a successful project due to the following reasons:

Real crypto mining takes very high voltage, high wattage, loud, hot, specialized ASICs. Even with ASIC miners, the profit margin is not that high and equipment can fail especially if not kept under the right conditions. In order to be competitive with other cryptominers, a cryptocurrency miner needs a computer with specialized hardware, so it’s doubtful that your phone has the same capabilities. Phones don’t have enough computing power for that.

It is hyped as being started by Stanford PhDs but why are there Chinese letters at the official website of Pi Network (Minepi.com)?

It is allowing people to register from the countries like Nepal where the use and purchase of cryptocurrencies are illegal and banned, even the Bitcoins. So, this makes it clear that it is not taking care of the legal issues that it can face in the future.

When we check its traffic detail coming at its official website-Minepi.com, we find out the majority of its traffic is from countries like Nepal, Israel, India, and so on. These are the countries where very few people have full knowledge of cryptocurrencies. So, why is it targeting such countries where people have less knowledge of cryptocurrencies?

The main activity at Pi Network is constructing a pyramid of members. The current Pi Network is a test net with a faucet and an MLM style recruiting system. You get more out of the faucet if you recruit more people. So, this makes it very similar to Pyramid Scheme. You should know that any company asks you to recruit multiple people without selling any real products or services, fall into the Pyramid Scheme. So, it may also face a legal problem due to its business nature in the future.

To know more details, please click the link provided here: https://de-reviews.com/minepi-pi-network/
submitted by NewsOnlineIncome to u/NewsOnlineIncome [link] [comments]

Reminder: Jews have real life time machines and want me to think that particle accelerators are time machines

Helloooooooo, it's me Satan/the devil again. Thought I would post another reminder about the jews having real life time machines which they have been showing off to me using their "media" (mostly).
Here's the documentary again, which I found on amazon primevideo after already coming to the conclusion that particle accelerators might actually be time machines.
https://www.imdb.com/title/tt0867212/
If particle accelerators are actually time machines, my mother may have actually received a tour of the large hadron collider, because she has been to both France and Switzerland during the same trip and my brother even lives in one of ze countries now. The official reason for her visit was to attend a "patent" conferance. 🤷‍♂️
Dialogue from the Ark Society level of Hitman 2 which mentions "patents" - https://streamable.com/chxs6p
"You see they are sitting on some patents that will knock your socks off."
"Weather control systems."
"Recycling pollution as fuel."
"Cold fusion. You name it."
Satan is naming their time machines too. 🤣
Anyway, she visited one of zose countries again (to visit my brother) and that too without telling me. I told her not to go because of the expensive plane tickets (she has been pretending to be "poor" all these years. well, not THAT poor. "middle class" poor. 🤣). I certainly considered the plane tickets expensive. It cost more than 1 lakh rupees (1,00,000) for a two way trip (which I considered to be a lot at that time). So if I would have gone too, it would have been more than 2 lakh rupees ( rupees are also jewish apparently ). Money that could have been spent on other things (jews have been emailing Satan recently with suggestions like "spend money on experiences, not things". 🤣). Of course, now I think money and the financial system is fake and designed exclusively for Satan but only YOU will know whether that is the case or not. 🤷‍♂️
Oh, and because she was planning on going without telling me, she even agreed to give me some "mummy money" (20,000 rupees) to buy some "pyramid scheme money" (bitcoin) which I then used to buy an antminer s1. Pretty neat pyramid scheme, huh? Has cool miners and everything. 🤣
Anyway because they have time machines, jews not only know what I am "sinking about" right now, but they also know what I will be "sinking about" in the future. 🤣 Check my previous posts and reminders about their mass surveillance tech if you don't know what I am talking about (once again assuming/pretending that everyone in the world doesn't already know who I am and already know about the existence of time machines and other advanced tech). 🤷‍♂️

Moar Satanic Rambling

I mentioned amazon above. They recently VERY actively participated in the "Q psyop" by showing the following riddle to Satan/me in a "riddle quiz" (or whatever you want to call it) that they had in the "fun zone" section of their app. Here's the riddle as I remember it.
"I usually follow Q. But not in QATAR. I come twice in queue. What letter am I?"
I bet they were hoping that I would correctly answer it, but I unintentionally answered it incorrectly as "E". Otherwise it was supposed to be "U". You know, "QU". "Q you". Calling me Q. Q from LGBTQ. 😐
Anyway, I didn't even look at the list of answers properly and had very quickly decided that the answer was "E" because in my mind I imagined the letters going from left to right (in a queue 🤣) and the answer would have been "E" in that case. The letter "E" would have been following "Q". By the way, there is no "E" in any of my real life names but there is one in "JEW". 🤣 Maybe that's why a jewess was pretending to be a bot and other jews were referring to her as EBOT in the Q research 8chan board (mentioned in one of my old posts). They were spelling "ABOT" as "EBOT". 🤣🤷‍♂️
I am also guessing that "QATAR" in the above riddle is supposed to mean something since it was in all caps. "Q a rat" maybe (country names are fake apparently, as I mentioned in my previous post)? Like the rat from the movie Ratatouille? 🤣 Even my mother was once mispronouncing Qatar as "Quatar", and I corrected her saying it's QAtar and not QUatar. But yes, once again, "QU" or "QUA" (Q you, A). 😐 Like I mentioned in my previous post, I now believe she is also a "psyop" participant and she continues to actively participate in the psyop.
Just recently she threw away a pack of masala powder just to make me angry. I had already started cooking when I realized that the pack was missing. At first I thought she may have just hidden it, so I searched everywhere but when I couldn't find it I realized she had mostly likely thrown it away. I am not talking to her at all right now (for obvious reasons 😐) but did manage to indicate that I was angry because of the missing masala powder (not that she didn't already know. it was part of the "plan". trust the plan. 🤣) and she eventually admitted that she had thrown it away, apparently because the pack was "completely open". There were long expired packs of various masala powders lying around (still are) that were actually "completely open" that she didn't bother to throw out but she threw away a brand new pack that I had bought. 🤷‍♂️
Should also mention that everytime I brought up the "psyop", her dialogue was something like, "Internet people are tricksing you-internet people are tricksing you". 🤣🤷‍♂️ "Internet people" are "tricksing" me apparently. 🤣 Well, I am translating but she was using the word "tricks". 🤷‍♂️
I believe I have also figured out what one of my real life names actually means. One is supposed to be calling me an "objectophile" (like "QU". "Objectophile U".) and the other one (the one in my birth certificate, ID cards, etc.) is supposed to mean something like "You are a fool/simpleton, devil". Any jew here willing to confirm? 🤣
Anyway, as jews already know, I think it's okay to be a fool/simpletion but not okay to be evil. Who goes to hell? A fool/simpleton or someone who is evil? <- "Q" style questions. 🤣
As I mentioned in my previous posts, I believe ALL jews are evil. Especially if all of them indeed know who I am and have been watching me all these years. 😐 Someone was even posting on 8chan saying something like, "we are not evil. promise...". Watch a compilation of everything you have done to Satan all these years if in doubt about the fact that you are evil. I am assuming you have recordings. Or did the jewesses who run the jew world delete them from the face of the Earth and are now claiming that some of the things that I have been "sinking" about never happened?
Other than that they have continued to do shit like male genital mutilation and abortions despite having time machines and knowing in advance that Satan will be anti-male genital mutilation and anti-abortion. Assuming that abortion is real of course. I haven't seen it with my own eyes after all (just like my mother says that she DOES NOT believe that god exists just because she hasn't seen god with her own eyes. heard the same thing from others. 🤣). I even remember someone posting pro-abortion shit in the 8chan Q research board. Something along the lines of "if you want to buy a gun, do it. your choice, pro-choice...". How about "if you want to do the apocalypse, do it. your choice pro-choice", hmmm? Besides, jewesses who have had abortions could have "chosen" to not have sex. If abortions are real, I am guessing there are many jewesses out there who have had abortions by the time they were 30.
Satan is 30 years old in his current human form and is a virgin. 🤣 Even the "Virgin" brand is referring to Satan. Yes? Also figured out recently that the "Coca Cola" brand is referring to Satan also. Bought an "(allocacoc)[https://www.allocacoc.com] powercube" and found the name odd initially but realized that it was Coca Cola spelled backwards with an extra "L" and knew it was supposed to mean something. Later saw one of those "coke and mentos" videos on youtube again and finally realized what it is supposed to mean. "Coca Cola" is supposed to be "A Cola Coc". "Cola" is supposed to be "কলা". It's supposed to be referring to Satan's dick. That's why there were those "muh dick-muh dick-muh dick" posts on the 8chan Q research board. Yes? 😐
Anyway, if the "Coca Cola" brand was indeed established in the year stated in wikipedia then it would seem that the jews have had time machines for the past 100 years at least.
I have also realized that "muh dick" is also partially mutilated and my mother lied to me about that also. Claimed to have taken me to the nurse because she noticed "pus" was coming out of my dick and the nurse did some "cutting". Said that there would have been "कष्ट" after marriage otherwise. Had no idea at the time what she was talking about, but perhaps she meant that a lesbian jewess might have found my unmutilated dick "ugly"? 🤣 Watch that "Nip/Tuck" episode#Episodes) and that "South Park" episode defending male genital mutilation if you have no idea what I am talking about.
What if jews force their senior citizen parents to get a face lift, nose job, liposuction, or whatever without anaesthesia? And say shit like "we are only doing it to make you look beautiful so that you don't have any "कष्ट" if you decide to get married/remarried or so that you are invited to more lemon parties"? 🤣 They can use their mind control tech to wipe the memory of the surgery afterwards if necessary (or use roofies if they are real 🤣). Can even invite people to witness the surgery and they can say "mazel tov", "oy vey", or whatever it is they say after a "bris".
Now, I don't know if "brises" are real because I haven't seen one with my own eyes. I have however seen a "fully mutilated" dick when I was a kid (3rd grade). It was in the school (a different school, not the one I mentioned in my previous post) bathroom which was just a "shed" with a drain in it (was the female bathroom also just a shed with a drain in it? There was even a South Park episode about school bathrooms but in their case the bathroom wasn't just a "shed" now, was it? 🤣). Anyway, I assumed that I had seen a catheter "wrapped" around his dick as I had heard about catheters by then but did not know what they looked like or how they worked. I asked the kid why his dick looked different assuming that he would confirm my theory that he was peeing using a catheter. But he replied saying that it's because he is "muslim". It was an odd explanation I thought, and even asked my mother that day and she didn't bother to explain it either.
Even after that incident I didn't know about "male genital mutilation" for years. But eventually "real time" told me. But even then I didn't know that even my dick was partially mutilated but "real time" has now told me about that too. 🤷‍♂️
Well, jews were also posting a "render" (I think) of an unmutilated dick on 8chan and someone on voat replied to a comment of mine saying something like "No one actually knows what an unmutilated dick looks like" which I only recently saw. Could have just said something like, "Your dick is mutilated too, Satan" but whatever. 🤷‍♂️

Video games

Already mentioned a video game above, but will be mentioning moar video games here under this heading. As I mentioned in my previous post, they are also using their time machines when making video games. I also mentioneded that I could be living in a simulation for all I know and you could all be NPCs. Later I remembered a video game that I didn't play just because the story/plot had "simulation" in it. I then checked out the plot again on wikipedia and noticed that it mentions "time travel" also. 🤣
https://en.wikipedia.org/wiki/Saints_Row_IV
The game's loyalty missions impact the ending of the story: if a number of these are not completed, the Boss makes plans for the Saints to take over more planets and expand their new empire; however, if all are completed, the Saints learn that they can restore Earth using time-travel, discovering that Zinyak captured several historical figures and placed them in suspended animation. The Boss soon discovers one of them to be 19th century writer Jane Austen, whom they are a fan of, and who reveals herself as the narrator of the game's story once she is awaken her from stasis.
There's also the following DLC where Satan is mentioned. 🤣
https://en.wikipedia.org/wiki/Saints_Row:_Gat_out_of_Hell
I have both the game and the DLC in my Steam library but have never played them. I bought them during a sale or something. They were being sold as a bundle (Humble Bundle maybe) but I was only interested in Saints Row The Third.
I should also mention The Witcher 3: Wild Hunt. The game has some cannibal witches who eat kids (they ate grown ups too; they didn't discriminate. 🤣). And the witches were shown to possess "mass surveillance" capabilities, but they were using magic. They would nail human ears to trees or something. Satan chose to free that tree spirit the first time he played that mission but later noticed the tree spirit did not get rid of those "ladies" for some reason. Plot hole?
Anyway, I read right here on /conspiracy that jews apparently eat aborted babies. It was the "Robert David Steele AMA" I believe.
Were you jews hoping to tell me that you don't really eat aborted babies and I only believed it because I am gullible? There was even a South Park episode recently where there was the dialogue "well, we don't eat them...", but they were talking about cows. Were they actually talking about aborted babies? There was also the dialogue "...nobody wants to do it...". Nobody wants to do abortions but do them anyway because jewesses auto-magically get pregnant (like Satan used to think when he was a kid)? Also, there is a dialogue in a "Penny Dreadful") episode where a witch who does abortions and is called a "cut-wife" says something like "this village needs its cut-wife...". Why did the village need a "cut-wife"? Because the jewesses living there were auto-magically getting pregnant even though they didn't have sex? 🤔
Unforuntately for the jewesses who run the jew world (who are no doubt like those "ladies" of the wood), there are also stories like (Hansel and Gretel)[https://en.wikipedia.org/wiki/Hansel_and_Gretel]. Even my own mother used to try and scare me when I was a kid saying things like "juju buris (বুড়ি) kidnap kids in burlap sacks..." or something. 🤷‍♂️

TV Shows

Already mentioned TV Shows above, but will mention more here.
I recently remembered the cartoon "Pinky and the Brain" and realized they are also supposed to be depicting Satan. Check out the opening theme and the lyrics - https://www.youtube.com/watch?v=qzZmU0aGmcc
They even show Saturn crashing into Earth during the part where they sing "by the dawning of the sun, they will take over the world". 🤣 There's also "to prove their mousey worth, they will overthrow the earth...". 🤣 Satan is dinky apparently. 🤷‍♂️
At the end of the opening theme there is even the name of an openly-jew jew mentioned ("Steven Spielberg"). If you are a "poor" jew who doesn't know about the existence of time machines and other advanced tech that "rich" jews have, maybe you can ask him what he knows.🤷‍♂️
Also mentioned in my previous posts that I am also supposed to be Jesus and there is this scene from an episode of The Simpsons - https://streamable.com/oumsad
The scene was actually censored when airing on a local TV channel and I even mentioned it to a desi jewess who was "sent" to chat with me. Looking at "muh chatlogs" is how I remembered that scene. 🤣
The jewess was trying to pretend to be psychic or something. She was even telling me about my future which I had totally forgotten about. I did remember that she asked me if I believe in "astral projection". I said no, so she dropped the subject. Otherwise I am guessing she would have claimed to be able to see me using "astral projection" and not because all jews are watching me like Truman from The Truman Show.
I also remember another jewess who was "sent" to chat with me and she was asking me if I had read Harry Potter and knew what a "prophecy" was. When I said yes and used "भविष्यवाणी " to define "prophecy" she dropped the subject. 🤣 She was claiming to be studying to be a psycho-logist and was repeatedly asking me "How do you feel-How do you feel". 🤣 I had no idea what she meant at the time, but now I know (thanks to "real time") that it's just something that psycho-logists say. 🤣 No doubt that was the first thing she learnt at "psycho-logy school". 🤣 Satan is a psycho apparently. 🤣🤷‍♂️
Oh yes, I was talking about The Simpsons. I remember seeing posts right here on /conspiracy speculating whether The Simpsons creators know about the existence of real life time machines because many episodes seem to depict future events. Well, no need to speculate any longer, they do have real life time machines. But it's not just The Simpsons creators. It's all jews. Be it Hollywood, Bollywood, Tollywood, etc. Maybe you can even ask them during comic-con or something if you are a "poor" jew and do not know about the existence of real life time machines.
I now also believe that the boat painting in The Simpsons living room is based on something that Satan painted not long after the shit stick incident. After the shit stick incident that I mentioned in my previous post, my mother agreed to reconnect our TV cable connection on the condition that I attend a religious summer school. That's where I painted a ship which was supposed to be like the ships from Assassins Creed Black Flag. It was supposed to be an art "class" but there was only one and they were like "paint whatever you want to paint". Were they expecting Satan to paint something Satanic? 🤣 I remember the kid next to me was painting an alien. Large sheet of paper but he was painting a small alien in the middle of it leaving the rest of the sheet blank. 🤷‍♂️
Anyway, in case of The Simpsons, the painting is that of "a boat" (wink-wink-nudge-nudge?) but it's very similar to the ship painting that I painted. If you really do not know about the existence of time machines and other advanced tech maybe you can even ask the creators of The Simpsons (in the next comic con or something). You can say something like "a conspiracy nut on /conspiracy claiming to be Satan was also claiming that you have real life time machines and the boat painting is based on something he painted at a religious summer school after a shit stick incident and that you got rid of the Apu character because he wanted The Simpsons cancelled because he got the impression that you were being anti-Trump and pro-Hillary...". 🤣🤷‍♂️
Anyway, there was even a kid at the above mentioned summer school who was pronouncing "cheat codes" incorrectly. He was pronouncing "cheat" as "kheat". Was he acting like the actors from Truman Show and reading his lines from an "eyephone" teleprompter? Or was it intentional? 🤷‍♂️ By the way, the downstairs neighbours' kids were also there in that summer school and they would have at least heard the shit stick incident. Yes? I believe they also knew about the "psyop" and could have told Satan but didn't. How are you jews trained to participate in the "psyop" anyway? Are you sen't to special "psyop schools"? 🤣🤷‍♂️
In one of my previous posts that was deleted by a mod, a jew had commented asking me whether I was a little girl because I had used so many "emojis", so let me mention the cartoon "The Grimm Adventures of Billy and Mandy" also. All three of the main characters are also supposed to be depicting Satan, including Mandy. Check out her devil horns like hairstyle. 🤣
There is also this song from the show. https://www.youtube.com/watch?v=yui4zkZQwCA
It has the lyrics "if at first they think it's strange, they wont think twice once I've eaten their brains".
Jews thought that if Satan thinks all the evil shit they do is "strange", Satan wont think twice after they manage to figuratively eat his brain? They were also posting this image on 8chan. Yes, Satan has been "fucked by psyops" because physical wounds heal apparently. Not that jews haven't caused physical wounds also but they always end up healing. 🤣

Movies

Scene from the movie "My Favorite Martian" referring to Satan's zipper incident - https://streamable.com/n3e30i
Was four or five years old when it happened. The zipper of the shorts that I was wearing, got stuck on my partially mutilated foreskin. I was crying in pain even though there was no bleeding. Jews most likely have a recording of this incident also (if they haven't deleted). Later the same nurse who most likely mutilated my dick was telling me to wear underpants as if I could conjure them out of thin air.
I didn't wear underpants back then and didn't even for years after that incident. Now I wear "square" underpants, which is why there is "Spongebob Squarepants" (I am also supposed to be Patrick). 🤣
Anyway, jews know about the zipper incident too but are continuing to perform male genital mutilations anyway. Yes? Perhaps they are like, "another benefit of having a fully mutilated dick is that you don't have to worry about zipper issues". 🤣🤷‍♂️

Music

Jews are using their time machines even in the music they produce.
My motorcycle that I mentioned in my previous post was seized by the cops (I used to think that the local cops are useless but now I think that they are just fake) using "Coronavirus" as an excuse. And when recently looking at the details of the "Foghat" album "The Best of Foghat", I noticed the song with the title "Third Time Lucky (First Time I Was A Fool)". I have been to the cops twice to get back my seized motorcycle. First time I went was on April 1 (april fools day). I was planning on not going a third time and just let the fake cops keep my motorcycle. After all, they are jews, the motorcycle was made by jews and even the money I used to buy the motorcycle was "jew money". And I noticed that there is also the song with the title "Take It Or Leave It". 🤣 Oh, and now I see that there is also one with the title "Easy Money". 🤣
The name "Foghat" itself is most likely referring to how Satan's helmet gets foggy sometimes. Yes? 🤔🤷‍♂️
Anyway, wasn't able to pass much time with the bike anyway. It was only making me spend fake jew money on fake expensive fuel. Not to mention the trips to the service center. It needs servicing every three months apparently. So, I am thinking I will leave it with the fake cops. What do you jews think? Is it a good plan? Trust the plan? 🤔
Oh yes, the second time when I went to the cops, they gave me a phone number and asked me to call it (I didn't) and also gave me a fake name when I asked for one. Which I now think is supposed to mean "You are Satan, pal", kinda like that South Park episode about mormonism ("moronism"; Satan is a moron apparently; Amaron) where Cartman was like "My name is Yura, Yura Fag". 🤣 If yes, then here is a message for the fake cop who gave Satan the fake name, "Satan is not your pal, gal". 🤣
Yes, the second time the fake male cops were gone and there were only two jewesses. The male cops are in "isolation" apparently. 🤣 I was wondering if I should have shown them that clip from The Simpsons where Chief Wiggum says something like, "look at my badge. cash bribes only..." because most of them are fat or chubby. And because I used to think that all the local cops were good for was scaring and threatening people and asking for bribes. 🤣 The second time there was only one male cop (a gatekeeper or something, who got brave and was rude to Satan) and this time they made sure that it was not a fat one. 🤣 Anyway, I can make fun of the fake fat cops (many of whom have "pregnant" bellies. men and women are equal so men are also able to get pregnant. those cops were actually pregnant. yes? 🤣) just by "sinking" about it. How cool is that? 🤣
I also remember that South Park episode now where they were calling bikers "fags"). Original air date is 2009 whereas Satan bought his bike in 2019. So yes, you can ask them about the existence of real life time machines and other advanced tech also. 🤷‍♂️
Recently Satan has been passing the time "code monkeying". That's why the 8chan administrator is called "code monkey", yes? I have been playing with "CodeIgniter" and there is "psyopy" content even in the "CodeIgniter" documentation.
use CodeIgniter\Controller;
class Helloworld extends Controller { public function index() { echo 'Hello World!'; }
public function comment() { echo 'I am not flat!'; } }
Yeah, the world is not flat apparently but since I haven't seen it with my own eyes I probably should not believe that it's round. Yes? 🤣🤷‍♂️
Well it doesn't really matter if the world is round or "flat". What matters is that if everyone in the world knows me then unfortunately for you, you are all evil. And it's actually more unfortunate for you if you are not NPCs. You know what I am sayin'?
By the way, is Satan's "Mann ki Baat" being broadcast to everyone in the world uncensored or should he write down more of his "mann ki baat"? 🤔 Like how he has been "sinking" to Ubisoft whether the "apocalypse" comes under "everything is permitted". Feel free to comment here with your reply Ubisoft.
Mind-wiped Satan now thinks total apocalypse (get it? total apocalypse. kinda like total eclipse but apocalypse instead of eclipse) is necessary and since he is addicted to TV shows, movies, video games and the internet apparently (all jew media), it would be the unselfish thing to do (assuming it's up to him to do the apocalypse). Yes?
Satan has been trying to be "sober" though. No TV shows, movies or video games for the past two months. Did not renew his 100mbps internet connection either. Let's see how long the lockdown can continue. 🤣🤷‍♂️
It's Saturday and Satan managed to spend hours writing the above post. 🤣
submitted by rcspy to conspiracy [link] [comments]

The project loses its voice and how Forbes stands out

The project loses its voice and how Forbes stands out

https://preview.redd.it/rstkulyt9f551.png?width=764&format=png&auto=webp&s=c29cc40bdb0a46f7d24d11d1cfb0334a29e1ce69
With the success of bitcoin, the currency circle has officially entered the "bull market cycle", but many friends are complaining that it is more and more difficult to earn money in the currency circle. Indeed, today's futures have been reduced to leek harvesters, and Shanzhai coins are half dead under the hard support of the project side, while the big model coins of the great fire of 19 years have disappeared. Many people will ask why the 17-year ICO, 18-year IEO and 19-year model currency will not be seen until 2020 without strong policy intervention. It's not hard to understand. The reasons are as follows:
1., after 17 years of super bull market, the past 3 years are in the bubble stage.
After being cheated countless times, leek is more cautious about new projects. The era when a white paper and an official website can circle money is gone forever.
2. The blockchain project is difficult to land and has no physical support.
In the currency circle, no matter what projects boast heaven, unlike industry, there is no sustained hematopoietic capacity, and ultimately only to end up with zero.
3. All model coins are Ponzi schemes.
Not to mention model currencies, all models are pyramid pyramid schemes, which reward the first arrivals with the money of the latecomers. The bigger the bubble, the collapse is only a matter of time.
Is it true that the currency circle is so dead that there is no hope? If you really want to start a new craze in the currency circle, the top 3 problems must be overcome. That is to say, if there is a project that can control risks without bubbles, there is physical support, without pyramid schemes, it will be a long and steady way to make money.
Before that, there must be some people who say it's a dream. After the epidemic, the state vigorously supports the enterprises to revive the economy. However, in reality, it's very difficult for entities to do it, let alone blockchain projects. As a result, I noticed a project called Forbes. After studying the white paper, I suddenly felt that like discovering a new continent, unlike any project I have ever seen, this project has perfectly realized the above vision! Let's explore it with curiosity and see what kind of immortal project it is.

https://preview.redd.it/j4p5cddgaf551.png?width=740&format=png&auto=webp&s=f380453bc8a63995ae15b7f32186dc34fa36e3ba
1、 0 raise funds, start the fund only by regular mining business
First of all, Forbes project is 0 fund-raising. Note that there is no fund-raising at the beginning, which eliminates the possibility of encircling money. Before the introduction of Forbes project token GFS, only bitcoin mining business was started. This bitcoin mining seems to be impossible. What does this have to do with the project itself? Let's explain later. First of all, mining business. Forbes first launched the "miner Alliance Plan". If you want to participate in it, you only need to pledge the deposit to purchase computing power or mining machines, and you can continue to get mining profits. Note why the project risk is controllable. The key points are:
  1. The deposit is returned daily for a period of one year through the smart contract.
The smart contract is deployed on Ethereum. The deposit usdt is returned every day. The smart contract is open-source, which ensures that the principal can be recovered 100% regardless of the outcome of the project.
  1. Mining income can be withdrawn every day.
The income from bitcoin mining will also be automatically converted into stable currency, which can be withdrawn every day, so as to realize the stable earning.
  1. Solid bitcoin ore pool support, which can be inspected on site.
The reason why the project is supported by entities is that 100% of the deposit mortgaged by users is used to purchase bitcoin mining machines. Forbes cooperates with bitcoin China, the global head mining pool, which can be visited at any time.
In this way, in the early stage of Forbes project, users can participate in bitcoin mining through 100% deposit return, and earn mining profits with little risk. If it's just mining, Forbes can't make a big impact on the currency circle. After all, there are two problems. One is that the cycle is too long; the other is that there is no promotion model. Although the model coins of the 19-year fire are all the end of collapse, the reason for the fire is that there are models to see how Forbes breaks.

https://preview.redd.it/ef7baf60bf551.png?width=1450&format=png&auto=webp&s=fab5db6ad76301bc14186ab9de199c58a4d4ae20
2、 Static and dynamic dual mode, the fuse is on fire
As mentioned above, the return cycle of buying deposit for mining machine is as long as one year, which may deter many people. Forbes has designed two modes. If you don't do anything after buying the miner, you can only make money slowly through the deposit released every day and the income generated. At present, the annual income is about 180%, which is called static mode. If you want to make money quickly, Forbes has designed a dynamic model.
In dynamic mode, there are three modules.
  1. Promotion in wet season.
In the mining circle, if there is a high water period, the benefits of mining will increase, so Forbes will often launch this activity in the high water period. 10% of the deposit of the first single miner directly pushed by the users to the top 5 will be released immediately. For example, if I bought a 1000u miner, the deposit of 1000u would have been released in one year, but if I recommend five more people to buy the miner, and all the five people buy the 1000u miner, then 10% of the total amount of deposit, that is, 500U, can be released immediately. In this way, I can promote up to 5 people and get back half of the original immediately.
In addition, it should be noted that the funds released here are the sum of deposit and income, not only the deposit!
  1. Direct promotion increased release by 20%, indirect promotion increased release by 10%.
It's easy to understand. Let's take my purchase of 1000u mining machine as an example. When it is not promoted, the deposit plus mining revenue will release 7U in total every day. If one person is directly pushed, and this person purchases 1000u mining machine, I will increase the release money by 20%, i.e. 1.4u. If the person who is directly pushed also buys 1000u mining machine, it is indirect promotion. I can increase the release money by 10%, i.e. 0.7u, My daily release gold is 7U + 1.4u + 0.7u = 9.1u. The more you push, the faster you release, that's the mechanism.
  1. Labor Union level release.
The so-called labor union refers to other performance areas beyond the maximum performance line under umbrella, because I am the recommender of all people under umbrella, so I am the president. In order to encourage users to join the trade union, the presidents of different levels of trade unions can get different levels of release rewards. For example, if I only need 50000 U of direct and indirect funds to become a V1 Union, then 12% of the total income of bitcoin dug out by the whole network will be equally distributed to the presidents of all V1 unions for release, and so on.
In Forbes' promotion model, all these promotion rewards are only the release of your principal and income, not the money from your family. This is different from other MLM project core elements!
In other words, it would take a year to release the principal and mining income without doing anything at all, but if I promote, it can greatly increase the speed of capital recovery and income generation. When the promotion reward reaches the sum of the deposit and income that should have been obtained, the promotion reward is no longer effective.
Some may say that I have worked so hard to build such a large community. It is not worth it just for the principal and about 180% of the annual mining income. In fact, when the deposit and income are released completely, you can choose to re invest again, so that the promotion reward can be released all the time.
Someone will ask again, the income of bitcoin mining is uncertain every day, why is the release associated with the expected future income? Forbes expects mining bitcoin's annual revenue to reach 180%, far higher than other mining pools. Where does the capital come from?
It is very important to explain this problem, because Forbes is a pure entity, no bubble project, and there can be no Ponzi scheme.
  1. As the project has its own promotion mode, once it is started, the ore pool will grow rapidly by fission, so the huge size of the ore pool will have a lot of base gas and ask for the price of the power plant. Generally, the cost of pool electricity may be more than 0.35, while Forbes can save a lot of electricity cost.
  2. With the support of the world's top mining pools, the more mining machines are purchased, the less the marginal cost, so the cost of mining machines is actually lower than the average cost of all users, and this cost difference is also one of the benefits.
  3. Forbes has set up a "mining pool fund", which uses 20% of the income from the mining output of the whole network to enter the fund pool. This fund is dedicated to the purpose of continuous purchase of mining machines to expand the income. Therefore, the project has the capacity of continuous hematopoiesis.

https://preview.redd.it/1hd299u9bf551.png?width=1434&format=png&auto=webp&s=b1db1e2a63ad6b8d38814e4f254a716dcb195850
3、 Forbes takes the overall situation and the final project vision is to realize distributed finance.
have ulterior motives. It would be a mistake to think that Forbes is just a new exploration of the mining model. What the project really wants to achieve is the landing of cross chain technology and the first echelon of distributed finance.
"Forbes miner alliance" is only the first step. With the launch of the main network, many node ecology gathered through mining will suddenly have a place to play, which to play, invincible. As we all know, the most popular concept of blockchain is difi (distributed Finance), which is also the field that Ethereum 2.0 will further explore in the future. What Forbes really wants to build in the future is to win the crown of decentralized finance and become the "UnionPay" of the currency circle.
Then when the Forbes ore pool is mature, Forbes will launch the main network and token GFS, and the output of GFS can only be obtained by purchasing a special miner. Because participating in the early bitcoin mining is also equivalent to contributing to the node ecology, users can choose to convert the mining revenue into GFS vouchers during the miner alliance period, and after the main network line, they can map to the main network token one by one. If we are optimistic about the future of GFS, it is a good choice to exchange mining income into GFS voucher in advance.
Of course, it is still the saying that the Forbes project is real, real landing, zero risk, no bubble. Unlike other deceptive projects, which will forcibly exchange the proceeds into the project token, the users can freely choose to exchange the mining proceeds for GFS, and they can also freely choose to purchase GFS mining machines in the future. It doesn't matter if you don't look forward to Forbes project. It's good to make bitcoin mining money in a safe and stable way. After all, everyone's cognition is different and their risk tolerance is different.
For me, such a solid project is hard to see in the currency circle. Forbes is not only real, but also does not adhere to the traditional entity mining, and the innovative introduction of no foam promotion mode. It can be predicted that this mode is sustainable development, and even I look forward to challenging the top mines of bitcoin. The earlier I participate in the project, the more meat I can eat. This is the essence of my participation in many projects. My mining income has been converted into GFS certificate almost the first time. After all, Forbes project has just started, facing a vast ocean to be developed.
报错
submitted by forbeschain to u/forbeschain [link] [comments]

Longmont man defrauded investors of $1.1M in Bitcoin Ponzi scheme, feds charge

Longmont man defrauded investors of $1.1M in Bitcoin Ponzi scheme, feds charge submitted by pacard to boulder [link] [comments]

A private subreddit for owners of >1 million dogecoins, /r/dogellionaireclub, is revealed to be a pyramid scheme. Cost to join is 20,000 dogecoins ($26.46 USD) and you get a share of each new member.

http://np.reddit.com/dogecoin/comments/1wy4ff/rdogellionaireclub_is_literally_a_pyramid_scheme/
submitted by jokes_on_you to SubredditDrama [link] [comments]

51% attacks are morally justifiable

In this short post I want to set out my case for the moral justifiability of 51% attacks against proof of work cryptocurrencies. In the past, a 51% attack was a theoretical construct that most people didn´t seem to think would be practically achievable or lucrative. This has now changed, as hashpower can be rented on sites like Nicehash and Mining Rig Rentals for a few hours at a time. The attack delivers the attacker two prominent opportunities:
-You can orphan blocks of ¨legitimate¨ miners. This essentially means that whatever work was produced by legitimate miners during your attack became worthless. Mine a secret chain of two hours worth of blocks, release it and you orphaned 2 hours worth of blocks by your competitors. By the time most of the miners have noticed their blocks were orphaned in an attack, their nodes will have been automatically mining on your own chain for a while and it will be too late for them to do anything about it. The amount of money they lost would be equivalent to the amount you had to spend to produce your chain. Because mining is an industry with tight margins, the economic impact on these miners can be very big. The cost may be sufficient in case of a very long attack, to persuade them to quit their endeavor and get a real job.
-The more important opportunity is that you´re able to double spend your coins. This is potentially, incredibly lucrative. How lucrative it is tends to depend primarily on the inflation rate of a cryptocurrency. A low inflation rate means relatively little ¨work¨ is done to maintain the security of the system. A high inflation rate on the other hand, turns the cryptocurrency into a very poor long-term investment. As a consequence, most cryptocurrencies face declining inflation rates, that delay the problem of their ultimately unsustainability into the future. The bank of international settlements explains this issue here.
When it comes to the moral justification of a 51% attack, we first have to ask ourselves why proof of work is morally unjustifiable. There are two main reasons for this:
-Proof of work has an enormous environmental impact, that ensures future generations will have to deal with the dramatic consequences of climate change. There is no proper justification for this environmental impact, as it delivers no clear benefits over existing payment systems other than the ability to carry out morally unjustifiable actions like blackmail.
-Proof of work is fundamentally unsustainable, because of the economic burden it places on participants in cryptocurrency schemes. Cryptocurrencies can´t produce wealth out of thin air. The people who get rich from a cryptocurrency becomes rich, due to the fact that other people step in later. In this sense we´re dealing with a pyramid scheme, but the difference from regular pyramid schemes lies in the fact that huge sums of wealth are not merely redistributed, but destroyed, to sustain the scheme. The cost of the work to sustain the scheme is bigger than you might expect, because the reality is that relatively little money has entered bitcoin. JP Morgan claims that for the crypto assets at large, a fiat amplifier of 117.5 is present, as a purported $2 billion in net inflow pushed Bitcoin’s market capitalization from $15 billion to $250 billion. You have to consider that the Digiconomist estimates that $2.6 billion dollar leaves the Bitcoin scheme on an annual basis, in the form of mining costs to sustain Bitcoin. The vast majority of retail customers who entered this scheme ended up losing money from it. In some cases this lead to suicides.
The fact that proof of work is morally unjustifiable doesn´t directly lead to a moral justification for a 51% attack. After all a sane society would use government intervention to eliminate the decentralized ponzi schemes that are cryptocurrencies. There are a few things that need to be considered however:
-Governments have so far failed in their responsibility to address the cryptocurrency schemes. Instead you tend to see officials insist that proof of work might suck and most cryptocurrency is a scam, but ¨blockchain technology¨ will somehow change the world for the better. Most libertarians who saw these schemes emerge insisted that it´s stupid to participate in them because the government would eventually ban them and round up the people who participated in them. This didn´t happen because of the logistical difficulty of suppressing these schemes (anyone with an internet connection can set one up) as well as the fact that suppressing them would lend credence to the anti-government anarcho-capitalist ideology on which these schemes are based. Goverments might say ¨these schemes facilitate crime, ruin the environment and redistribute wealth from naive individuals to scammers¨, but anarcho-capitalists would insist that governments have grown so tyrannical that they want to ban you from exchanging numbers on computers.
-Because cryptocurrency is fundamentally an online social arrangement, governments have very limited influence over the phenomenon. Binance seeks to become a stateless organization, not subject to the jurisdiction of any particular government. Just as with regular money laundering and tax evasion that hides in small nations that can earn huge sums of money by facilitating these practises, governments are dependent on the actions of individuals to address these practices. Whistleblowers released the panama papers and the tax evasion by German individuals through Swiss bank accounts. Through such individuals, the phenomenon could be properly addressed. In a similar manner, cryptocurrency schemes will need to be addressed through the actions of individuals who recognize the damage these schemes cause to the fabric of society.
-The very nature of a 51% attack means that it primarily punishes those who set up and facilitate the cryptocurrency scheme in the first place. The miners who pollute our environment to satiate their own greed are bankrupted by the fact that their blocks are orphaned. The exchange operators are bankrupted due to double-spend attacks against the scams that they facilitate. When this happens, the cryptocurrency in question should lose value, which then destroys the incentive to devote huge sums of electricity to it.
Finally, there´s the question of whether 51% attacks are viable as a response to cryptocurrency. There´s the obvious problem you run into, that the biggest and oldest scams are the most difficult to shut down. In addition, cryptocurrencies that fell victim to an attack tend to move towards a checkpoint system. However, there are a few things that need to be considered here:
-51% attacks against small cryptocurrencies might not have a huge impact, but their benefit is nonetheless apparent. Most of the new scams don´t require participants to mine, instead the new schemes generally depend on ¨staking¨. If people had not engage in 51% attacks, the environmental impact would have been even bigger now.
-51% attacks against currencies that implement checkpointing are not impossible, if the checkpoints are decentrally produced. What happens in that case is a chain split, as long as the hostile chain is released at the right time. This would mean that different exchanges may get stuck on different forks, which would still allow people to double spend their cryptocurrency.
-There are other attacks that can be used against proof of work cryptocurrencies. The most important one is the block withholding attack. It´s possible for people who dislike a cryptocurrency to join a pool and to start mining. However, whenever the miner finds a valid solution that would produce a block, he fails to share the solution with the pool. This costs money for the pool operator, but it can be lucrative for the actor if he also operates a competing pool himself. In the best case it leads to miners moving to his pool, which then potentially allows him to execute a 51% attack against the cryptocurrency.
-It´s possible to put up a 51% attack bounty, allowing others to do the work for you. This works as following. You make transaction A : 100 bitcoin to exchange X, for a fee of 0.001 BTC. Once this transaction has been included in a block, you immediately broadcast a conflicting transaction with another node: You´ŕe sending those 100 bitcoin to your own wallet, but you´re also including a 50 bitcoin fee for the miners. The miners now have a strong incentive to disregard the valid chain and to start mining a new chain on an older block that can still include your conflicting transaction. Provided that pool operators are rational economic agents, they should grab the opportunity.
-Selfish mining in combination with a Sybil attack allows someone to eclipse the rest of the network, while controlling less than 51% of the hashrate. Your malicious nodes will simply refuse to propagante blocks of your competitors, thereby giving you more time to release your own block. Selfish mining will always be possible with 33% of the hashrate and as far as I can tell there are no pathways known currently to make the scheme impossible for people with 25% of the hashrate. This potentially makes a 51% attacks lucrative without having to carry out double-spend attacks against exchanges. Although double spending is a form of theft, it´s not clear to me whether a selfish mining attack would get you into legal trouble or not.

Conclusion:

The dreaded 51% attack is a morally justifiable and potentially lucrative solution to the Nakamoto scheme.
submitted by milkversussoy to Buttcoin [link] [comments]

Bitcoin is not what it used to be, before all the rules, taxes, fun was still left in it. Granted the value is heigh but I’m just not feeling it these days .. know what I mean..

submitted by 2piFC to Bitcoin [link] [comments]

Satoshi's nightmare, part 2

What you see here is a trick of the light. Those calling Craig a fraud have a totally different set of values and beliefs. They believe that 'government' is inherently evil, that 'Satoshi' is a saviour who invented Bitcoin to replace central banks and trusted third parties, and not simply a way to make micro-payments on the internet. They formed consensus many years ago about what a decentralised protocol was for, what ends it was supposed to serve (drugs, anarchy, 'freedom'), along with a whole narrative about 'us & them', 'Bitcoiners & Business', 'good and evil'. So when Craig turned back up on the scene, outed mostly against his will, and hesitated to give real proof, and even by giving false proof, he both inadvertantly and purposefully caused people to seriously doubt him. This caused much confusion. Thus he became 'one of them', a 'lawyer', a 'businessman', 'a predator', an evil statist and patent troll. As such, he was not 'their Satoshi' because Bitcoin got much of its early value from use on dark markets. And, as long as there are dark markets which accept it, Bitcoin will still be valuable. Thus the cypherpunks and moonboys reason: 'My job is to pump Bitcoin and sell it to everyone I know to get rich'. It's a pyramid scheme, based on drug money. More importantly, however, is the issue of power. What are the patents for? Who controls this patent empire and to what end? The idea of creating a global money system and remaining anonymous might seem somehow beneficent, but it could also be viewed as darkly malevolent. Who knows who is behind the veil of secrecy, and what technologies they possess to control and direct the flow of capital resources? How might their influence affect the world? And this is the sum of their fears. They are both scared of their own shadow, scared of governments and banks' influence, and still more scared of Satoshi. It turns out that money is a highly devisive issue. Craig says that he created a protocol to take power away from money, which is an interesting claim. In fact he designed it to be a competitive system, where miners compete for social power.If we break down the current state of affairs, there are three groups vying for the SHA256 hash rate. The BTC group support the optional destruction of records, unregulated exchanges and a community model where nodes behave altruistically and the network is spread across the globe, the BCH group support dark markets and gambling , and the BSV group supports a very large global marketplace for permanent data. Of the three, the BTC group has managed to capture the most hashrate, social consensus and price, but this may not last forever. Consensus dictates that hash follows price, but if the core group constantly wants to hard-fork the network in order to adapt and survive, it may find itself splitting again and again and again over many years. There is also the issue of patents. Many Bitcoiners feared Dr Wright's patent empire. Having been 'gifted' Bitcoin, they split off onto other chains to experiment and make new toys. Thus, the idea of enforcing patents and having to pay a licence fee to 'Satoshi.inc' was anathema, particularly as, being pseudonymous, he had the luxury of seeing what was being done with his technology and could patent in secret while others did the work. Widespread vilification followed Wright's return to the space. He was treated with hatred and derision. #notmySatoshi became a rallying cry. Wright's vision for a single monolithic immutable blockchain was certainly not shared by all, indeed, many opposed it out of hand on the simple premise that it appeared to represent a new kind of tyranny.
submitted by Jo_Bones to bitcoincashSV [link] [comments]

PoCC Pool Multi-Chain Mining Statement

The PoCC pools have currently a total capacity of roughly 114PB and deliver together 45% of the Burst mining capacity. In order to lower this percentage, the PoCC has raised the pool fee to 1.5% recently.
In the last days we've successfully piloted collision-free multi-chain mining. It's a technology to be able to mine multiple chains without the adverse effects of collisions.
What are we going to use it for (this applies to our PoCC pools only):
Mine other chains as we deem fit. This includes supporting our testnet as well mining other PoC coins existing or upcoming. We will basically be taking any opportunity we will see in the market for many different reasons, may it be to support our development, to secure our market position or the value of our coin.
Scaling: We are currently running this feature on two of our pools and currently thinking about ways to scale it. Rolling it out to other pools, creating new pools and/or router services are just a few of the options we are currently exploring.
Proceeds: Any proceeds potentially arising from this additional operation will be exclusively spend on Burst projects. We are also thinking about a compensation scheme for our PoCC pool miners. However, this compensation will only be marginal, as we are trying to keep all PoCC pools below 51% capacity.
Opt-out: We are currently working on an opt-out to be released this weekend. If you don't want to support us on our mission but would still like to continue on our pools you can simply flip a switch.
Adverse impact on capacity estimation: The mining capacity on our pools is unaffected - as our tests have proven. The Burst chain has highest priority. Miners with scanning times longer than 40 seconds might marginally be impacted in some rare cases.
A note from JohnnyFFM on energy efficiency:
You might have noticed that we've added a new column on the "All miners" tab of our 0-100 pool info page showing information about the mining software used. I have to confess that I was a bit shocked. The miner I consider best and spent plenty of my time on only has a marginal share of 4.8%.
I'm currently reviewing what to make of it. It might be the missing Q-bundle integration, a missing GUI or something else. It is also concerning me that only 40% of the miners are using software with the optimised shabal routines. Those routines are saving 30-50% of CPU load.
A word on Bitcoin Hard Driver(sic!), a closed source fork of the BTC client utilizing Conditioned Proof-of-Capacity mining with Burst plots a.k.a. the plotting and mining toolchain:
It is a pyramid scheme, it has quite a lot of conceptual and security implications - which many participants seem to know about, yet still do not care "as long as the price/quick buck is right". A mindset we have observed even with long standing veterans in the Burst community.
Because of said pyramid scheme concept (you have to buy in to earn) BHD maintains a price point way beyond a realistic valuation. Greed devours the brain. We are currently interfering with this network to secure our position, which means BHD miners will continue to observe an ever increasing network capacity.
On that note, we would like to point out that 3 BHD per TB "mortgage" means that even if all 21M BHD coins were in existence, there would be a total max of 7EB (Exabyte) of mining capacity hard cap (to get "full" rewards). Currently, the BHD network thinks it has 0.5EB. Think about it.
A word on fud: Obviously there will be people complaining about this. It's mainly members of the BHD community and they are typically not mining on our pools. They will allege us of doing things for our personal profit and so on. You all have seen this before and should know how to handle it.
Please be aware that in this discussion we consider only people who are mining on PoCC pools to have a voice. In case you don't agree with our approach, please let us know by flipping the opt-out we will provide this weekend latest.
submitted by PoC_Consortium to burstcoin [link] [comments]

Lets talk about BCH and BTC (/r/btc is sketching me out)

I've come to /CryptoCurrency hoping to find a more productive conversation about BCH and BTC. I'm worried about getting banned on /bitcoin for talking about BCH, and /btc has become a shitshow of vehement BCH supporters. Where are the skeptics, neutral investors, techies, and unbiased crypto nerds?
I like BCH. I've held BCH since the fork and have kept it at around 20% of my portfolio. I mostly value the coin for the aesthetic quality of a simple, single layer crypto cash with the bitcoin brand. Just like bitcoin in 2008, it's safe, perceivable, and potential unfettered by institutional schemes. I'm not turned off by timely block size increases. The explicit goals of BCH are appealing. Yet ironically, I think BCH will inevitably be a heavy asset without multi-level settlement solutions (I could be wrong!). Which is why I also like BTC. I see enormous potential with SegWit and LN and think BTC is more likely to become more useful.
But I have reservations about BCH. The development team is hard to pin down, the fork wasn't super graceful, and the reddit community is kind of sketchy. I've been reading /btc for 6 months and have noticed an enormous increase in bias towards BCH in the weeks leading to the s2x fork. When cancellation was announced, there was an even greater surge of "propaganda." Given the similarity in language and content, and the strategic timing, it feels like a coordinated effort to promote BCH (this is a conspiracy theory, and I have only anecdotal evidence. Also there is a bull run, so of course everyone will be bullish on BCH). Propoganda is hard to define and identify, and every crypto subreddit is full of it, but the BCH supporters are absolutely vicious with their attacks and weak and fallacious arguments. It's almost at Fox News level of non-information (90% emotional fluff, 10% content). They constantly call BTC a pyramid scheme, that "shitwit" is designed to allow institutions to get rich, provide a killswitch via 51% attack, and that it's useless as a settlement layer. They want to claim BCH is the original bitcoin and that BTC is a fraud (granted, identity is a very tricky subject in crypto and BCH is seemingly closer to the original bitcoin than BTC).
You all know the arguments for and against both coins. I know many people out there are like me, skeptical about literally everything and constantly re-evaluating personal convictions. I need someone like me that has a greater understanding of the technology and people involved in the development and mining communities to make strong arguments for or against each coin. Better yet, make arguments that are neutral if that's where reason leads.
Potential topics:
Usefulness of Segwit
Security of Segwit
BTC/BCH development teams
Private interests influencing BTC/BCH (miners, financial institutions)
BTC/BCH identity
BTC/BCH symbiotic existence in crypto environment
Reddit propaganda/censorship
Resources of trustworthy information + history
submitted by jazzfruit to CryptoCurrency [link] [comments]

BREAKING: Mining Without Consent: Burstcoin’s (BURST) PoCC Accused of Attacking Bitcoin HD and Stealing from BURST Miners

BREAKING: Mining Without Consent: Burstcoin’s (BURST) PoCC Accused of Attacking Bitcoin HD and Stealing from BURST Miners

https://preview.redd.it/nuzu9peazw621.png?width=512&format=png&auto=webp&s=bf7895b149b13f7a75f3a78de3f3f134c0529666
https://cryptoiq.co/breaking-mining-without-consent-burstcoins-burst-pocc-accused-of-attacking-bitcoin-hd-and-stealing-from-burst-miners/
A group of Burstcoin developers has been accused of merge mining Bitcoin HD without the consent of miners, refusing to give them the Bitcoin HD earned from merge mining, despite using their equipment. The developers say this was done to attack Bitcoin HD.
On Dec. 17, the Proof of Capacity Consortium (PoCC), a semi-official group of Burstcoin developers, began to merge mine Bitcoin HD (BHD). This was announced to the public on Dec. 20 — only after a miner posted on Reddit that they were upset about the unannounced merge mining.
Reasonable attempts to reach representatives of PoCC for a response to the allegations were unsuccessful.
A statement released by PoCC on Dec. 24 said that Bitcoin HD was the specific coin being merge mined.
This situation seems unfair for miners and perhaps could be considered theft since most miners were completely unaware that they were merge mining for at least a week.
To placate the miners, PoCC made a donation of 150,000 BURST ($600) to the Burstcoin Marketing Fund. It also temporarily waived the negative balances some miners had due to a previous pool error.
PoCC acknowledges that merge mining Bitcoin HD increases energy usage by 30 to 50 percent.
The PoCC said it will use its pool, which is comprised of the mining power of independent miners, to mine other chains as it deems fit. It indicated that miners will not receive any profits from merge mining Bitcoin HD even though it costs more electricity.
“A word on Bitcoin HD,” The PoCC also said in the statement. “… It is a pyramid scheme, it has quite a lot of conceptual and security implications – which many participants seem to know about, yet still do not care ‘as long as the price/quick buck is right.’ This is a mindset we have observed even with long-standing veterans in the Burst community. Because of said pyramid scheme concept (you have to buy in to earn) BHD maintains a price point way beyond a realistic valuation. Greed devours the brain. We are currently interfering with this network to secure our position, which means BHD miners will continue to observe an ever increasing network capacity.”
Specifically, the PoCC is saying it is consuming a large fraction of the mining revenue from Bitcoin HD — which weakens the Bitcoin HD mining community — and dumping it for Burstcoin development.
The Bitcoin HD (BHD) CoinGecko chart indicates that volume for BHD spiked to near $1 million right before Christmas, well above the average of less than $100,000, and simultaneously with the beginning of a price crash from near $4 to $2.80.
That being said, there was similar volume and a similar price crash in early December before PoCC deployed Bitcoin HD merge mining, so it’s not that unusual. Part or most of the pre-Christmas price dump could have been speculators catching wind of the PoCC’s threats and dumping Bitcoin HD. It is not possible that PoCC mined anywhere near $1 million of Bitcoin HD in such a short amount of time.
A Bitcoin HD dev responded to the PoCC threats, saying “If some of you continue to attack BHD and do not distribute the earnings from mining BHD to the users, compared with the current capacity, BHD’s 400PB and Burst’s 200PB, … we might attack Burst by the advantage of 51% of the capacity. You should understand what this means.”
The PoCC responded “First and foremost, we are not attacking BHD. This is a very serious allegation for which there is no evidence… As we do not attack BHD and according to your own words help to strengthen the BHD network, we are confounded with the threats you formulated. Let it be known that as we do not attack BHD, we certainly would feel any moral right to answer any attack against Burst accordingly”.
This response to the Bitcoin HD dev is contrary to the PoCC saying that it is interfering with the Bitcoin HD network in the same Reddit thread. PoCC is not 51 percent attacking the Bitcoin HD network. That’s what they mean when they say they are “not attacking.”
In fact, Bitcoin HD has a far greater mining capacity than Burstcoin (BURST), so a PoCC led 51 percent attack is not even possible. However, taking away most of the revenue from the Bitcoin HD mining community and then dumping it all to weaken Bitcoin HD’s price is an attack.
The Bitcoin HD dev team has taken the high road to put an end to the PoCC-induced network interference. Instead of a 51 percent attack on Burstcoin, they decided to fork Bitcoin HD on Jan. 3, 2019 to prevent merge mining.
To summarize, the PoCC, which is a semi-official Burstcoin development team — but certainly not the only Burstcoin developers — initially began to merge mine Bitcoin HD without permission from the miners in the PoCC pool.
PoCC acknowledges that the merge mining was done to divert resources away from the Bitcoin HD mining community to weaken it. Those resources have enriched PoCC, despite the fact that miners on the PoCC pool were unknowingly participating in this scheme and losing money because of it.
Now, a significant fraction of the Burstcoin community feels betrayed, and the PoCC has lost reputation and trust. Since Burstcoin is decentralized, it will eventually recover from this, but the weeks and months ahead could be very turbulent as the full details of this merge mining saga are exposed. Ultimately, this could result in a change in Burstcoin (BURST) community leadership.
submitted by turtlecane to burstcoin [link] [comments]

TOP 20 Reasons Why Cryptocurrencies Are Worthless

https://medium.com/@quizas_869/20-reasons-why-cryptocurrencies-are-worthless-b38f34e4d6b3

1)Private keys are being bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they can move them all at once instantly.(At least 45,000 ETH are known to have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing can break it.
2)It is possible to change the code anytime and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.
3)You can also fork bitcoin anytime and start over the pyramid scheme from 0. (BCH , BSV , BTG , LTC , BCD ETC etc)
4)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..
proofs :
“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”
Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”
Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”
Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.
EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “
Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..
5)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.
6)Then miners will be losing millions everyday so they will stop mining , blocks will be so slow , almost no transaction will come though , and bitcoin will probably not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved will crash hard.
7)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”
8)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..
9)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.
10)Bitcoin price is artificially inflated by Tether
Other major non-technical problems :
11)It’s an energy waste , an environmental catastrophy
12)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.
13)Governements will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.
14)Most cryptos are scams , the rest are just crazy speculative casino investments
15)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even better simply cash.
16)It is pyramidal : early adopters intend to profit massively while last comers get crushed.
17)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.004563298 BTC are ridiculous !
18)About famous brokers listing bitcoin : they only want to give people an opportunity to short it , and make money on it as brokers do.
19)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it. The governement the police the taxes etc. Cryptos are so much worse it’s printed out of thin air we could change the algorythm of bitcoin to instantly mint an infinite amount of bitcoin , it is technically possible..
20)Everybody in crypto think they’re smart traders and that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it won’t. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun.
21)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.
22)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks
23)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governements might ban it to prevent fiat inflation to worsen. If prices would rise , whales stuck with cryptos would dump and cause an immediate huge drop.
24) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.
25) The argument saying governements can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because drugs are probably the best feeling in the world , but cryptos are nothing it’s all virtual. If crypto is banned , value will drop too much , you can’t sell it for fiat without risking jail , and goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.
26) Crypto doesn’t exist. It’s all virtual. It’s like buying air. It’s just virtual collectibles generated by a code.
27)The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. This is clearly the greater fool theory.
updating..
submitted by OverTheRedHills to zec [link] [comments]

What is bad about bitcoin?

What is bad about bitcoin?

https://preview.redd.it/efwk0tmidmw31.png?width=2560&format=png&auto=webp&s=7952d767bc7054084216de931c2c2ecf7d2c564e
In recent days, bitcoin is almost the most popular topic. In just a few hours, its value could rise by a thousand dollars, or it could fall. Cryptocurrency, which once cost about a cent, is now bought for 10 thousand dollars, and the interest in it is huge. Now I will try to explain why Bitcoin is not an ideal solution to human problems.

Bitcoin is not regulated by any state. It's good. But bad, too

Who has the right to print money-the state or independent structures? Now, without exception, all countries believe that the state: it collects taxes, and prints the currency in which these taxes are collected. As soon as we break this chain, there are opportunities for all kinds of abuses-and for tax evasion, and for the financing of terrorism, and for the laundering of money obtained through criminal means.
https://preview.redd.it/i1624668hmw31.png?width=1366&format=png&auto=webp&s=c0969d60d97fa6e6fcbac052676074051ccaa571
"Bitcoin shows how great is the need for ways to launder funds," says Larry Fink, head of the management company BlackRock Financial Management, and most bankers and officials around the world agree with him.
The lack of a regulator is a good advertising sign, but it's actually a bit of guile. Control of the cryptocurrency is distributed among Chinese manners, who own most of the computing power, software developers and exchange platforms. And they can not agree on a single development of bitcoin.

Bitcoin for many is a replacement for roulette

Or, in financial parlance, it's a great asset to speculate on. Buying bitcoins is relatively simple, does not require any special knowledge and trips to investment companies. The cryptocurrency has very sharp fluctuations, which attracts a lot of "gamblers" — those who bet rather than invest-to "play" with the rate. This only increases the fluctuations and makes Bitcoin look like a pyramid scheme.
https://preview.redd.it/fuytmxwtdmw31.png?width=1498&format=png&auto=webp&s=aa2c9430c0eb88da4cf661edf4be23fa8ff67d8e

Bitcoin is very similar to the "bubble"

At the time of the famous pyramid MMM critics warned: no asset in the world can not provide a yield of hundreds of percent per year. Bitcoin for the year has risen in price by 15 times, and it is increasingly compared to the "dotcom bubble" that burst in the early 2000s. then investors overestimated the economy associated with the Internet, not fully understanding its capabilities and device. There is a feeling that investors in bitcoin also do not understand how it works or what it can be used for.
https://preview.redd.it/zffhiq1bgmw31.png?width=1000&format=png&auto=webp&s=d94337f21d4f0007f3c9e81d6f2b869f9bb05258

Miners spend a huge amount of energy

Mining is required to create new coins and make transactions. Bitcoin uses a scheme for this process, which involves carrying out a huge number of calculations and turns into a waste of a large amount of energy. With the rising cost of cryptocurrency mining new bitcoins is becoming more profitable. Therefore, miners are increasing the capacity of their systems, and more and more energy is consumed. Now so much energy is spent on maintaining the work of bitcoin that it would be enough for some countries. Soon, according to this indicator, the cryptocurrency will overtake the energy consumption of Serbia, Denmark, and then Belarus.
In other words, for the system to function, we need to burn a huge amount of oil, gas and other raw materials. Is it worth it?

Bitcoin does not perform socially useful functions

This argument is more philosophical than economic, although expressed by economists. Usually an asset is worth something because it is useful: we understand why we are willing to pay for oil, iPhones, hamburgers and so on — because all of this, roughly speaking, makes the world a better place. Bitcoin, according to economists — for example, Nobel laureate Joseph Stiglitz-does not change the world.
In response, one could argue that bitcoin and everything that happens around it is a test of the idea of cryptocurrencies for strength, which means that there is still a benefit, but is this benefit commensurate with the value of Bitcoin?

Bitcoin is an imperfect cryptocurrency

A huge number of different cryptocurrencies are trying to correct the shortcomings of bitcoin. As a result, there are already cryptocurrencies that provide:

  • an increase in the number of transactions
  • other schemes for creating blocks that do not turn into a large consumption of electricity
  • full anonymity to participants of transactions
  • concealment from observers of transaction sizes
  • the use of new promising technologies such as smart contracts
  • no restrictions on the number of new coins
submitted by AVAY11 to u/AVAY11 [link] [comments]

Dad scarred me for life

I remember being happy as a little kid. I had no chores, I had the best toys out there, and I had no worries about my future. Not having a brother or sister, unlike most other kids, I wanted that the most. Assuming my parents both wanted another kid too, I got a sister when I was 5. I was the happiest kid alive. Since my parents would be a lot of busy raising the new baby, they also bought me my first computer, probably so I wouldn't think they have forgotten about me, and now are all about taking care of my baby sister. I loved playing with, and taking care of my sister, but more than anything, surprisingly, I loved my computer. I don't know why, it was a new thing back then and I was so in love with this technology, especially games.
Quickly enough, I turned 7, and started going to elementary school. My dad then told me straight up, that I should study hard and get all straight A's, otherwise I'd be grounded really hard, to learn my lesson. Being scared of disappointing my dad, I did. I studied hard. I could say I'm a gifted man. I learn really fast (rapid progress is seen if I work on something that I like), so I had no problems getting all them A's. Studying hard was rewarding for me, as every time I got an A, I would be allowed to play on my computer longer, they'd buy me new video games, and take me on a vacation almost every summer.
But nobody's perfect. My nightmares started when I was 10, and in my 3rd grade. I got my first B on a test. I was disappointed in myself, came home, and told my parents that I got a B. My dad beat me up really bad. He used to slap me once or twice, or yell at me if I did something wrong before, but this was rigorous. He beat me up like an animal, and when he was finished, tossed me in my room, and told me that my punishment for fucking up is: no going out to play, no friends coming over, no watching TV, and the worst of all, no playing video games. For. A. Month. I was only allowed to go to school, eat and study. He wouldn't even talk to me at all for the duration of my punishment...
I was devastated. But I embraced it. I thought that I haven't studied hard enough, and that if I do from now on, this would never happen again and therefore, the scenery that I lived through that day wouldn't either. I had all straight A's in my third grade, now scared of being beaten up by a person I really loved and respected. I wouldn't even mind if he just grounded me, but beating me up was so terrorizing I did not want that to happen EVER again.
As a reward, I got a brand new PC after I had all straight A's in my 3rd grade. I was finally able to play GTA San Andreas, which was a new game back then, and my favorite. Soon after he also connected me to the internet, and I started playing my first multiplayer game, CS 1.6.
As I started going to 4th grade, things got worse. I, obviously, messed up again, and got a C this time. 'No way in the world I'm reporting this home' I thought to myself, as I did not want to go through the horror I did in the past. So I didn't. But soon enough he found out, and beat me up even harder for fucking up, and lying about it. Starting from my 4th grade, all the way to today, I remember very little of this time in my life, everything is so blurry. I started hating this reality and my own life. I drew myself to play video games more and more, distancing myself from my family, and most of the friends I've had.
Next thing I remember is getting a new phone after I finished my 4th grade, obviously, with all straight A's. It was a Sony Ericsson K750i. It was the best phone back then, most of the people have had it. Unfortunately, I wasn't used to paying attention to my stuff and I lost it like 6 months after he bought it to me, little after starting my 5th grade. This time there was no way I could cover that up, but I couldn't tell them that I've lost it. My father found out that I don't have it like 3 days after I've had it lost, since I used to play on it a lot, so it was pretty obvious. He broke everything I had. He broke all the video games I had, he broke my computer, and then beat me up like never before, this time with his fists. I still feel unpleasant pain in my ribs when I stretch myself to this day. I was punished for half a year this time. He wouldn't talk to me at all, sometimes wouldn't even allow me to eat, I was just going to school and studying that time. Having nothing else to do I also finished my 5th grade with all A's, and he was generous enough to let me play on the computer he had bought me when my sister was born, now a very old machine, as my 'reward'
I was scarred enough already. I had no hopes for my future, I just wanted to play video games. Since I could only play CS 1.6 on this hamster machine (which I still keep to this day, to remind me of the somewhat good times), I started running my own CS 1.6 server. I got into coding, I made interesting mods for my server, changing the gameplay and making it different and more fun. I also got into website and forum coding for the server that I had. It was pretty successful server, being full with players 24/7. I tried to show my dad my first triumph, something that I've built for the first time, but he never acknowledged it. 'Waste of time', he said.
I knew I was born to code. I learned to code AMX, HTML and CSS in my 6th grade, all by myself. I was gifted for this. This is something that I'm really good at, still am, and I want to build my life around it. But not my dad. I guess he had different plans for me. Being drawn away from school and studying, now focusing on running away from my shitty reality and life, I spent lesser and lesser time studying for school, and more and more on improving my coding. I became really good at lying to my dad about my terrible grades, as I barely averaged B in my 6th, 7th and 8th grade, plus my mom, who is a very generous and good person, seeing through which horrors I (and also she) was going through, she'd also cover me up.
She couldn't cover everything tho, so I'd end up being punished for bad grades again and again. I wanted to go to the IT high school, and continue my progression into programming. But my dad didn't. So I ended up going in a high school, for a car mechanic. Obviously, I was really hated in my high school by everyone, and on top of that had to attend classes I didn't give 2 shits about, and fix cars. I was barely passing my grades, averaging C. At this point I'd say my dad gave up on me, and didn't even bother punishing me for my terribly bad grades.
My high school was generic. I would just play WoW every day (I still play WoW to this day), I pretty much gave up on coding and every dream I have had then. I didn't even know why was I alive. But I found my happiness in WoW. A perfect world where I exist as a powerful hunter, defeating the evils of the world and having good friends there. I played WoW 24/7, and I still do.
A flip happened in my 3rd grade of high school, where I got an opportunity to try my first ecstasy pill. I haven't touched alcohol, cigarettes, nor any drug before then. I was 18 now, so I thought, well, 'to hell with it, lets see why is everyone praising this drug, I have nothing better to do anyway'. Needless to say, that was the best experience I have had in a decade. I knew it's just a drug, and fake, but I haven't felt so happy and fulfilled for such a long time, I immediately fell in love with it. Soon after that, I started smoking weed, and found myself, not trapped, but in love, emotionally attached to these substances and in love with the reality they offered. A perfect reality, where I can be happy, for as short as the effects would last.
Wanting to run away from reality as far as I could, I paid interest in LSD, as many were saying it's the craziest thing they've tried. So like 2 years ago, I dug, and found out about deep web. This is where I got introduced to Bitcoin, which I'll talk about later. I bought my acid, and man, is this shit good. Completely different state of consciousness and a loss of self identity. I really liked acid, but dropping acid and getting high wasn't my goal now, it was Bitcoin.
I fell in love with Bitcoin technology as well, much like i fall in love with any interesting technology. I saw potential in it, and being only 150$ back then, I thought: 'If I could only have one or two, I'd hold it for the rest of my life'. So I told my dad about it, about the technology, the potential, and he immediately replied: 'To hell with your ponzi schemes and pyramids, learn a profession and start making something out of your life'. Yet another devastation. I've also started losing interest in Bitcoin too, since there was no way I could obtain one, hence I had no job, and was still trapped in my high school.
I kept abusing drugs for the next year or two, distancing myself from everyone, and everything. The MDMA fucked up my serotonin even further, and I found myself drowning in my sadness and hopelessness even deeper. After my high school I tried to look up for some job so I could at least have money for myself, but anything that I wanted to work, my dad straight up rejected, and didn't allow. I am pretty scared of saying no to him, so I just give up, on everything that I ever wanted to do.
'I'm fairly good at English', I thought, so I figured I wouldn't mind being an English teacher, and my dad would acknowledge this. Actually, I'd love that. I tried to apply for colleague, to study English, but my terrible grades from high school held me from succeeding. I did the test well, but my high school drew my average points way below the requirements. My dad knows some powerful people in town, so he had me applied to a colleague for being a policeman, or something. I didn't have to pass anything, the people he knew would just put me straight in. I refused, not wanting to go through horrors like I did with my high school. He started yelling, threatening me he'd kick me out of the house if I didn't go.
Being scared shitless from my dad, I had no other option. I started going, but I couldn't proceed. I missed my first semester, I didn't study at all, and eventually my parents got a call, stating that I'm completely inactive and missing from classes. My dad got furious. He hadn't talked to me for months after I dropped out. He barely acknowledged my existence. I couldn't take it anymore, I took a pen and a paper, wrote down my final words, and went out to fucking do it. But I couldn't. The only thing I remember going through my head was my mother, and my sister, (and my little dog) which I love the most. I couldn't do it because they matter to me. I couldn't do that to them. I remember my mom fainting when she saw me come home, whole neighborhood was gathered to look for me. It was very unpleasant going through that. Surprisingly my dad didn't appear even worried. Like he knew I wouldn't have the balls, basically spitting that in my face.
My dad, now (not really) realizing the mistakes he had done, decided to make me happy again, and buy me a mining rig, about 8 months ago. I couldn't say that I was really happy because I'm finally doing something that I loved. I was still devastated from my past, and I doubt that it would ever change.
Another big flip was, one month after I started mining, my dad got very furious and started yelling at me because my mining rig was earning lesser and lesser money day by day due to increasing difficulty, and price per ethereum fell from 400$ to 200$, which is understandable having a bull run from 50$ all the way to 400$, that had to happen. He told me to sell all that shitty gear and return him the money he had gave me for it (?!?!?!?!?!). Yeah, he does that often. He buys me stuff to make me temporarily "happy", and then just heartlessly takes that away sooner or later. I, of course, refused, started crying and locked myself in my room. He got even angrier, busted the door, got in, started yelling at me. I didn't care if he'd beat me at this point, I'm used to it. 'Just don't break my miner', is the sentence I repeated inside my thoughts over and over. My mom rushed to try and calm him down, he hit her instead, and she fell down. I couldn't control my breath now. I started breathing faster and faster, then I started seeing double, and I passed out. I guess I had a panic attack. I woke up in a hospital, with my mom and dad next to me.
I pretty much lost it then. I started spending more and more ethereum on drugs that made me happy, without thinking of the consequences. Eventually I spent all ethereum, having a need to take more and get higher, and not enough money to pay for it, I sold one graphics card, and then another. I'm left with 4 graphics cards mining now, trying to lay off the stuff and focus on making my video game (hint: https://krle997.github.io). I never told my dad about the game, because I didn't want to get devastated by him once more. Of course, being used to lying to my dad about everything, I didn't tell him about this either. The sucker never even comes in my room so he'd never figure out that I had sold my graphics cards, nor that I have no ethereum. I kept lying to him that I have something that I don't.
Reality check.
Seven days ago he said he needed the money urgently, and told me to sell my ethereum, which I don't have. He thinks I have around 4 ethereum by now, which is a big amount of money for my country. I wouldn't even be able to mine two ethereum by now, due to increasing difficulty and what not, but I had to keep lying to him about daily earnings so he wouldn't get furious again, and lying to him about ethereum I spent too, price movement, etc.
I don't know what to do. I lied to him that it takes about 7-14 days for the transaction to happen, just prolonging the inevitable, eventually. I thought of asking my mom to help me through this, but shes been going through too much trauma too, she also lost her mother not longer than a year ago, and her dad passed away seven days before my sister was born. So she has it pretty fucked up too. Only reason she is still married to this man is because of me, and my sister, we are everything to her.
I only have one true friend. But there is no way in hell he could help me through this. He doesn't even know that I don't have the ethereum, as I'm lying to him as well, being afraid of being judged.
Should I tell my mom? I don't see any other way I'll get through this. I don't want to die, and I don't want to run away, seeing that as my only viable option right now...
Thanks for reading my story. I hope you have a wonderful day, and bright future! Peace.
submitted by mmPvEhunter to raisedbynarcissists [link] [comments]

TOP 20+ Reasons Why Cryptocurrencies Are Worthless

-Private keys are being bruteforced as we speak. Thousands of quadrillions entries a second. When they'll have enough bitcoins under control , they can move them all at once instantly. (At least 45,000 ETH are known to have been stolen this way for now through ethereum bandit) Quantum computing is coming. bitcoin is using SHA 256. It's pretty old , it was already old in 2009 , it will be broken.
-It is possible to change the code of a crypto anytime to change the total supply or anything really. DASH did it : they reduced the total supply to 18.9M from 84M when it wasn't called DASH yet. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.
-You can also fork bitcoin anytime and start over the scheme from 0. (BCH , BSV , BTG , LTC , BCD ETC etc)
-And that's if people don't find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc proofs :
"Coindesk : "The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret"an attacker could have actually used it to create new Bitcoin – above the 21 million hard-cap of coin creation – thereby inflating the supply and devaluing current bitcoins."
Stellar : "Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed"
Monero : "A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post"
Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.
EOS : "Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX "
Zcash : "Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug" etc..
-Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.
Then miners will be losing millions everyday so they will stop mining , blocks will be so slow , almost no transaction will come though , and bitcoin will probably not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved will crash hard.
-Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous "parity wallet"
-It is NOT trustless. you have to trust the wallet you're using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..
-Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.
Other major non-technical problems :
-Bitcoin price is artificially inflated by Tether
-It's an energy waste , an environmental catastrophy
-The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.
-Governements will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies.
-Most cryptos are scams , the rest are just crazy speculative casino investments
-Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You'd rather hold a wal mart gift card or even better simply cash.
-It is pyramidal : early adopters intend to profit massively while last comers get crushed.
-The very few stores accepting bitcoin always have the real price in $ , not in bitcoin.
-About famous brokers listing bitcoin : they only want to give people an opportunity to short it , and make money on it as brokers do.
People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it. The governement the police the taxes etc. Cryptos are so much worse it's printed out of thin air we could change the algorythm of bitcoin to instantly mint an infinite amount of bitcoin , it is technically possible..
-Everybody in crypto think they're smart traders and that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it won't. The truth is past performance doesn't indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun.
-There is no recourse if you're scammed/hacked/made a mistake in the address etc. No chargebacks
-In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governements might ban it to prevent fiat inflation to worsen. If prices would rise , whales stuck with cryptos would dump and cause an immediate huge drop.
submitted by OverTheRedHills to eos [link] [comments]

Internet Nostalgia and the Future of Cryptocurrency — my personal story!

In the early 1990’s, when I was just a kid, my family purchased our first personal computer. It was a top of the line system with an Intel 486[i] processor running at a whopping 33MHz, 4MB of memory and a 33MB hard drive running MS-DOS[ii]! Although my trusted “MS-DOS for Dummies” handbook taught me everything I needed to know, the computer seemed more like a novelty than anything useful.
Nonetheless, I remember playing games like Chuck Yeager’s Air Combat[iii] and Hard Drivin’[iv] and many others. I also remember visiting our local Radio Shack for new software and the latest releases from the Tandy Corporation[v]. In fact, every now and then, my grandmother would take me to Radio Shack and buy me a new computer game (thanks grandma!)
A few years later, I started hearing about something called the “Internet.” However, I had no idea what it could do or how to “access” it. Then, one day, while visiting my local library, I discovered that their public computer was connected to the internet — and the World Wide Web!
Not only that, the library also offered a free program to help people connect their home computers to the internet[vi]. Once my family signed up, the library supervisor gave us a floppy disk with the required software, settings and instructions.
Now, keep in mind, I was not even a teenager at this time, and, on top of that, my family didn’t have a clue about tech. In fact, I remember my mother and grandmother looking at our new home computer as if it was an alien ship that just landed. So, basically, except for the floppy disc and the library supervisor, I was on my own! Somehow, I had to figure out how to set the whole thing up, and since internet technology was new to the public, I couldn’t find any references to model. And, of course, there was no google! Looking back, I must have driven the library supervisor crazy with all my questions!
Nevertheless, after buying a new computer with an awesome 100MHz processor and a 28kbit/s modem, and, almost a month later, I finally heard the magical beeps and static sounds of the free internet, and since the internet connection was provided by my local library, I was greeted with the library’s web page — Thank you Merrick Library!
Even though the whole internet consisted of plain black text[vii], I thought, “Wow, this is amazing! HOW IS THIS POSSIBLE!!!!”
With a sense of keen curiosity, I browsed the Usenet[viii] where people connected with one another and I searched the internet with WebCrawler[ix], and I even downloaded some images. However, there really wasn’t too much to discover, and before long, I brushed the internet off as another novelty and went back to playing computer games.
Then, about a year later, my local grocery store started offering free floppy discs for AOL[x], and I convinced my family to sign up for AOL’s free trial. Shortly thereafter, I was greeted with the iconic, “You’ve Got Mail!” However, the internet I discovered this time was no longer just plain black text!
I’ll never forget the first moment I saw the internet in full color with images! It took my breath away and the feeling of excitement was beyond profound!
At that point for me, the internet had blossomed into something extraordinary! And, along with vibrantly colored photos everywhere, there was a new website called Yahoo![xi]
Although few recognized it at the time, this was the beginning of the Dot-Com bubble, and not only would it change the internet, it would change the world!
Fast forward more than two decades to 2009, and now as an adult with my own son.
Something very different was beginning to stir, and it was called “Bitcoin” — a currency for the internet.
Although it was considered nothing more than an obscure idea at the time, it sparked something inside me — it was that same curious feeling I had when I first discovered the "text based" internet!
Even though I didn’t know much about this new oddity, I knew that I could use my computing power to generate something called Bitcoins. I thought, “Why not?“
So, after joining one of the first Bitcoin mining pools, I had my computer mine for a few days. This meant leaving my computer on non-stop with my GPU fan at full speed. In return, I earned 0.63BTC which was worth about $1.00USD at the time — with such little financial gain, I didn’t see the point of mining nor the feasibility of Bitcoin — so I stopped mining and forgot about Bitcoin.
Sometime later, I started hearing about Bitcoin again, but, this time, in some very different contexts:
Shortly after all the negativity began, I decided to learn more about Bitcoin. As my research unfolded, I began to comprehend “blockchain technology” as well as the potentials for technological advancement.
Once I understood the foundational premise of Bitcoin technology, I jumped in for real! I purchased Bitcoins, I started mining Litecoins (and others), and I continued to learn and evolve as a crypto miner, investor, trader, and loyal supporter.
Now, just 9 short years after the genesis block, Bitcoin has some new contexts:
Even as amazing as Bitcoin is today, I believe that it’s just the beginning of something much greater! However, to see what I see, you must look past the ICO’s, the scams, and the fear and anger of those involved. Once you see beyond the surface, the truth becomes quite clear, and, only then, can you begin to comprehend how Bitcoin is transforming the world!
Thanks to Bitcoin, we are on the cusp of technological evolution!
Moreover, the new technologies that are coming from Bitcoin development pay homage to their revolutionary beginnings.
For instance:
For me, foreseeing the future of cryptocurrency is like seeing the internet for the first time in full color with images, and, even though I’m no longer thirteen, I still have that same excited feeling! Indeed, the future is bright!
Thank you for reading this post and allowing me to share my story! I encourage you to share your crypto-story with me and others (here or anywhere appropriate).
What does Bitcoin and cryptocurrency mean to you?
Due to technological promise, what future cryptocurrencies/Blockchains/etc are you most excited about?
Although I’ve personally deemed some new cryptocurrencies potential gems, I’ll keep that information to myself right now. After all, the intention of this post is not to promote anything other than cryptocurrency in general.
Please, keep the crypto world in a positive state by allowing everyone their own opinions.
As a growing crypto-community, let’s move into the future together!
References
[i] https://en.wikipedia.org/wiki/Intel_80486 — I wish I could remember the exact model.
[ii] https://en.wikipedia.org/wiki/MS-DOS
[iii] https://en.wikipedia.org/wiki/Chuck_Yeager%27s_Air_Combat
[iv] https://en.wikipedia.org/wiki/Hard_Drivin%27
[v] https://en.wikipedia.org/wiki/Tandy_Corporation
[vi] https://en.wikipedia.org/wiki/Internet_access
[vii] https://en.wikipedia.org/wiki/Text-based_web_browser
[viii] https://en.wikipedia.org/wiki/Usenet
[ix] https://en.wikipedia.org/wiki/WebCrawler
[x] https://en.wikipedia.org/wiki/AOL
[xi] https://en.wikipedia.org/wiki/Yahoo!
submitted by satoshibytes to CryptoCurrency [link] [comments]

We should let Segwit go through

All in all, it's better than nothing and all eyes are on Blockstream, they won't be able to profit off Bitcoin anyway.

1.

Smarter people than many of us are for Segwit. For example gavinandresen - Gavin Andresen.
Or shea256 - Ryan Shea, which I quote here:
A few facts on the core developers:
As for SegWit, it is a multi-faceted gold-mine of an update with many, many benefits to scaling, security and efficiency:
  1. It fixes the substantial transaction malleability problem once and for all.
  2. It improves the efficiency of signature-hashing so it scales linearly rather than quadratically.
  3. It 1.7x's the # of single-signature transactions per block and 4x's the # of multi-signature transactions per block.
  4. It enables second-layer scaling solutions like Lightning.
  5. It upgrades pay-to-script-hash transactions from 160-bit hashes to 256-bit hashes.
  6. It makes it safer for hardware wallets to sign transactions by explicitly hashing input values.
  7. It reduces the growth of the system's most burdensome resource: unspent transaction outputs, which are ideally kept in memory.
  8. It introduces versioning for the scripting language to allow for more easy upgradeability.

2.

The trust in the BU development team has faded [1] [2] [3]. (It's more legit if it looks as if it has sources. You know what I'm talking about... the bugs that have been found, the fact that it can't keep up with Core's commits, the fact that Core developers aren't jumping ship to it, the fact that it looks less active even compared to Classic - which has a smaller "market share").

3.

The trust in the reasons for which some miners were supporting BU has faded [1] [2]. I'm guessing that we were all hoping that they hate censorship and manipulation, just like we do, but for Jihan for example - the reasons might be different. I first became suspicious of it when he shared MR_hehe's post, saying this:
If 2nd layer protocols become a reality, many bitcoin transactions will go through 2nd layer networks and not via miners. Miners won't receive transaction fees for them. The mining community obviously feel unhappy about this.
But now we have the bigger sign (quote AgentME):
The covert form of ASICBOOST (where they don't use the version field, the form that was only recently publicly discovered) would only show up as a higher than usual number of empty blocks or blocks with reordered or missing transactions (depending on how the attacker implemented it; it's not necessarily both).
IMO, the long term objectives should be:
etc.
Note that without utility for people and businesses, Bitcoin is just a complex and very effective pyramid scheme. No wonder you're only allowed to post "BUY BUY BUY HOLD!!" in /bitcoin.
Also note that DASH is already doing some of the stuff above. Maybe we should just do a Bitcoin genesis block with DASH's source code lol.
There's little financial interest in my recommendation, as I've already sold most of my Bitcoins for ETH. I'm sure many others from /btc have done the same. But I still want most cryptocurrencies to succeed, not just the ones I'm "invested" in. I want banks to fail.
EDIT: looking at the comments, some people want hard fork SegWit, others want BU, others want soft fork FlexTrans, others want extension blocks... Really, we can't pull in so many different directions. We'll just move slowly somewhere in between, and in the tech word you remain behind when that happens.
submitted by Nabukadnezar to btc [link] [comments]

බිට් කොයින් පිරමිඩ් ස්කීම් එකක්ද? Is Bitcoin a Pyramid Scheme? Money man says bitcoin could be a pyramid scheme - YouTube Bitcoin is a PYRAMID SCHEME Says Peter Schiff - Here’s Why He’s Wrong Is Bitcoin a Ponzi Scheme or a Pyramid Scheme? - YouTube Texas Cease And Desist For AWS Mining Pyramid Scheme

Effectively, Bitcoin is a pyramid scheme. To start, you have to be clear about the history of money. One good book: Making Money: Coin, Currency, and the Coming of Capitalism (The book is dense and not a quick read, as the history is messy/complex... Bitcoin is removed from any centralised control such that all transactions are treated equally and each bitcoin, or fraction thereof, is treated the same all others. Bitcoin is not a ponzi or pyramid scheme. In summary, bitcoin fails to meet the requirements for being classified as a ponzi or a pyramid scheme. There are no promises made on the ... Bitcoin is a “Pyramid Scheme” With No Utility, Says Lending Tree Economist – Coinfomania. Blockchain, breakingnews, Coinfomania, Crypto, crypto news, Cryptocurrency, News Posted on January 2, 2020 Wilfred Michael. Spread the love. Despite being crowned the best performing asset of the last decade, Bitcoin critics still do not see the cryptocurrency as a viable investment vehicle. Instead ... How does the pyramid scheme work? It is based on the Ponzi principle, standard for such structures. The site is designed in such a way as to pay old investors at the expense of new ones. Therefore, sooner or later, when the money runs out, new investors will be left without money and on the verge of ruin. However, we note that the first investors can really earn. Nevertheless, among the ... Maze-Miner Bitcoin HYIP – Impossible Profits. One of the biggest Maze-Miner scam factors that came to our attention here has to do with how the Maze-Miner system works to put money into pockets. Folks, if you are going to invest in anything like this, you need to have all of the necessary information at your disposal, which is definitely not the case here. These crooks refuse to tell us ...

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බිට් කොයින් පිරමිඩ් ස්කීම් එකක්ද? Is Bitcoin a Pyramid Scheme?

Instagram Live Close. This video is unavailable. බිට් කොයින් පිරමිඩ් ස්කීම් එකක්ද? Is Bitcoin a Pyramid Scheme? https://www.freecodecamp.org/news/create ... Is bitcoin a pyramid scheme? Peter Schiff says so, but is he right? In this video we’ll take a look at Schiff’s recent bitcoin opinion and see if it holds any water. Bitcoin is always a popular topic in the investing community. Let's go over some pros & cons of cryptocurrency. I know this will be a polarizing topic so be ...

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