Tuesday, February 12, 2019

TabConf Monero Report

"I appeal to you, brothers and sisters, in the name of our Lord Satoshi Nakamoto, that all of you agree with one another in what you say and that there be no divisions among you, but that you be perfectly united in mind and thought." - 1 Corinthians 1:10

Fellow Disciples of Privacy,

I have returned to tell the tale my pilgrimage to Atlanta, GA where I spread the gospel of our devout belief in financial privacy. I was there from Feb 7-11 and the conference itself was Feb 8-10. Here is the link to the event website.

Feb 8

On my way to the 1st day of the event I talked to a woman with a booth outside holding a "Free Stress Test" sign. She was representing Scientology and informed me of the practice of Dianetics. She explained that Dianetics is the process of identifying negative memories in the brain and removing them so they cannot be stimulated to be re-experienced. She denied that such process could be performed by stimulating the amygdala with an electrode.

I went on my way to the workshop event at TabConf where I learned about IBM's Hyperledger Fabric and stepped into Bitpay's workshop where they were working with the "Bitcoin-Core" client. Later I met up with /u/midipoet and learned from a passing group that the host of this conference, Georgia State University, had a large computer network that performed substantial rendering for their video production in the Entrepreneurship Department. I went to meet with the director of that department, Elizabeth Strickler and asked if they had ever considered subsidizing the cost of that hardware by mining Monero with it. She was curious about this idea but ultimately the University pays for the electricity and that was beyond the scope of her authority. She told me she would connect me with higher up directors.

After lunch I sat in the Hashgraph (Hedera) meetup.

The pre-conference party at the Beer Garden Bar happened a few hours later where I met 2 members of the Church of Monero and several other OG crypto community members. I talked with /u/rehrar, his better looking half, and /u/midipoet discussing the state of the Monero community. I didn't go to sleep until ~2 am, grabbing food at a late night Atlanta diner with a few other people.

Feb 9

In the morning I caught /u/rehrar's talk.

Later I went and talked with Paul Puey /u/paullinator from Edge about his experience implementing Monero into their platform. He explained to me that it has been very challenging for them to implement and maintain Monero functionality. The frequent network upgrades and unique code structure "almost require a full time Monero engineer." [Maybe this could be a decentralized position the Monero community could crowdfund?] I expressed my concern and understanding of the challenges Edge has faced regarding Monero and assured him that I would bring this concern to the rest of the community.

As I walked around the booths at TabConf, I also met with Brian Hoffman of Open Bazaar where I asked about Monero integration, possible i2p data transmission layer, and Discord-like chat functionality in their new Haven app. He expressed similar challenges for Monero integration and I proposed that he contact /u/binaryfate to integrate one way XMR -> BTC functionality with xmr.to's API to get around the need to maintain a Monero wallet while maintaining some financial privacy.

I learned about the struggle of being a woman in Blockchain at the "Women in Blockchain Panel".

I was there for (Chris Derose's) /u/brighton36's shocking reveal in his presentation on Professionalism in Blockchain.

Daniel Krawisz /u/danielkrawisz then taught us about using Mass Hypnosis through costly signalling to communicate Bitcoin to the world.

Mike In Space showed us several controversial Bitcoin Car Talk videos.

Diego /u/rehrar eating apple sauce!

Eventually we all met up at Skyline Park for dinner, drinks and a rooftop party.

Me at the rooftop bar with a view of Atlanta

We were all out late partying. TabConf had an open tab all night and your TabConf ticket got you in free.

@ComEatMeBra (Telegram) from the Church of Monero found this Hymnal with an M inscribed on it while walking through the street.

@joshuam_ (Twitter) from Decred was out late with us partying.

Feb 10

On this Sunday, the Church of Monero held is largest "in real life" Mass with five people from TabConf total participating.

Chris Derose, Daniel Krawisz, and Xeagu

We introduced two new members to the Church of Monero and had four people plus me participate in Mass.

I went to listen to the Lightning Network Panel and have been interested in this technology since I heard about the Lightning Network Torch Ceremony on Twitter where people send a "Torch" to each other using Lightning Network transactions. This ritual is similar to the Church of Monero Mass.

Afterwards I stayed for the CEO/Founder Panel with Paul Puey, Brian Hoffman, Stephen, Pair, and Wayne Vaughan (from left to right).

I think the CEO Panel was my favorite segment of the conference. The conference really put together a diverse speaker set and appropriately organized the CEO Panel in a way that was conducive to understand many different perspectives within the ecosystem. Estimates for victory in this crypto revolution range from 4 to 20 years. Private Key Custody will be an important variable in this process.

After the panel, I listened to Kevin Pham, Chris Derose, rm0rf, and several others further discuss the sovereignty of crypto nation states and between them the competition to develop the best blockchain tech.


[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Quadriga CEO Mysteriously Passes Away, Brings $137 Million to the Grave

Last week, the founder and CEO of the Canadian crypto exchange Quadriga CX, Gerry Cotton, passed away. While this is certainly disheartening to hear, the situation has caused an interesting problem.

Due to his sudden death, Cotton brought over $137 million worth of Bitcoin, Litecoin, and Ethereum to the grave. According to some sources, Cotton is the only one who had access to these digital wallets effectively deleting these currencies from circulation. This leaves thousands of exchange customers wondering where their funds are, and if they’ll receive a refund.

Exchange Security

Cotton took the exchanges fund security very seriously considering the cold storage method he used to keep the coins was only known to himself. According to his wife, the laptop used to manage the exchange and storage of coins was all encrypted making it extremely challenging to investigate.

It’s difficult to blame the exchanges CEO for taking his customer's fund security seriously after several exchanges have experienced hacks and wallet theft over the past few years. Just last January, Coincheck has over $500 million in Bitcoin stolen from its reserves. And then there’s Mt. Gox, one of the oldest cryptocurrency exchanges that had almost 6% of all Bitcoin in circulation stolen from its wallets.

Did Cotton Fake His Death?

While the events that occurred are extremely unfortunate, some investigators believe Cotton could have potentially faked his own death to steal his customers money. Cotton supposedly passed away from Chron’s Disease which typically isn’t fatal. In addition, the death note was from India, a country that has been known to issue fake death certificates. Online speculators viewing blockchain transactions have noticed Litecoin being transferred from the exchanges cold wallet to a new address after his “death”.

The Importance of Decentralized Exchanges

These events shed more light on the importance of decentralized exchanges like CEDEX. On decentralized exchanges (DEX’s), customers are able to trade various cryptocurrencies from the comfort of their own wallet. If Quadriga was a decentralized exchange, this entire scenario could be avoided. In CEDEX’s case, we use a proprietary machine learning algorithm to allow the exchange to operate autonomously without human intervention. This is all done to simplify and add transparency the diamond appraisal and trading process.

What do you think happened to the Quadriga CEO? Let us know in the comment section below.


[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Jose Conseco Warns the World to Stay Away from Bitcoin’s “Pyramid Scheme” via Twitter - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/jose-conseco-warns-the-world-to-stay-away-from-bitcoins-pyramid-scheme-via-twitter/

[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Altcoin Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Despite Crypto Losses, GMO Internet’s Bitcoin Mining Business Had A Solid 2018 Posting $197 Million In Profits - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/despite-crypto-losses-gmo-internets-bitcoin-mining-business-had-a-solid-2018-posting-197-million-in-profits/

Bitcoin To Rescue For The $2.3 Billion Paid In Remittance Money Transfer Fees In India During 2018 - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/bitcoin-to-rescue-for-the-2-3-billion-paid-in-remittance-money-transfer-fees-in-india-during-2018/

[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[uncensored-r/BitcoinMarkets] [Altcoin Discussion] Tuesday, February 12, 2019

The following post by AutoModerator is being replicated because some comments within the post(but not the post itself) have been silently removed.

The original post can be found(in censored form) at this link:

np.reddit.com/r/ BitcoinMarkets/comments/app5ph

The original post's content was as follows:


Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Disgraced Crypto Exchange QuadrigaCX Accidentally Sent Nearly $400000 to Dead CEOs Bitcoin ... (current BTC/USD price is $3651.53509824)

Latest Bitcoin News:

Disgraced Crypto Exchange QuadrigaCX Accidentally Sent Nearly $400000 to Dead CEOs Bitcoin ...

Other Related Bitcoin Topics:

Bitcoin Price | Blockchain | ICOs


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


TabConf Monero Report

"I appeal to you, brothers and sisters, in the name of our Lord Satoshi Nakamoto, that all of you agree with one another in what you say and that there be no divisions among you, but that you be perfectly united in mind and thought." - 1 Corinthians 1:10

Fellow Disciples of Privacy,

I have returned to tell the tale my pilgrimage to Atlanta, GA where I spread the gospel of our devout belief in financial privacy. I was there from Feb 7-11 and the conference itself was Feb 8-10. Here is the link to the event website.

Feb 8

On my way to the 1st day of the event I talked to a woman with a booth outside holding a "Free Stress Test" sign. She was representing Scientology and informed me of the practice of Dianetics. She explained that Dianetics is the process of identifying negative memories in the brain and removing them so they cannot be stimulated to be re-experienced. She denied that such process could be performed by stimulating the amygdala with an electrode.

I went on my way to the workshop event at TabConf where I learned about IBM's Hyperledger Fabric and stepped into Bitpay's workshop where they were working with the "Bitcoin-Core" client. Later I met up with /u/midipoet and learned from a passing group that the host of this conference, Georgia State University, had a large computer network that performed substantial rendering for their video production in the Entrepreneurship Department. I went to meet with the director of that department, Elizabeth Strickler and asked if they had ever considered subsidizing the cost of that hardware by mining Monero with it. She was curious about this idea but ultimately the University pays for the electricity and that was beyond the scope of her authority. She told me she would connect me with higher up directors.

After lunch I sat in the Hashgraph (Hedera) meetup.

The pre-conference party at the Beer Garden Bar happened a few hours later where I met 2 members of the Church of Monero and several other OG crypto community members. I talked with /u/rehrar, his better looking half, and /u/midipoet discussing the state of the Monero community. I didn't go to sleep until ~2 am, grabbing food at a late night Atlanta diner with a few other people.

Feb 9

In the morning I caught /u/rehrar's talk.

Later I went and talked with Paul Puey /u/paullinator from Edge about his experience implementing Monero into their platform. He explained to me that it has been very challenging for them to implement and maintain Monero functionality. The frequent network upgrades and unique code structure "almost require a full time Monero engineer." [Maybe this could be a decentralized position the Monero community could crowdfund?] I expressed my concern and understanding of the challenges Edge has faced regarding Monero and assured him that I would bring this concern to the rest of the community.

As I walked around the booths at TabConf, I also met with Brian Hoffman of Open Bazaar where I asked about Monero integration, possible i2p data transmission layer, and Discord-like chat functionality in their new Haven app. He expressed similar challenges for Monero integration and I proposed that he contact /u/binaryfate to integrate one way XMR -> BTC functionality with xmr.to's API to get around the need to maintain a Monero wallet while maintaining some financial privacy.

I learned about the struggle of being a woman in Blockchain at the "Women in Blockchain Panel".

I was there for (Chris Derose's) /u/brighton36's shocking reveal in his presentation on Professionalism in Blockchain.

Daniel Krawisz /u/danielkrawisz then taught us about using Mass Hypnosis through costly signalling to communicate Bitcoin to the world.

Mike In Space showed us several controversial Bitcoin Car Talk videos.

Diego /u/rehrar eating apple sauce!

Eventually we all met up at Skyline Park for dinner, drinks and a rooftop party.

Me at the rooftop bar with a view of Atlanta

We were all out late partying. TabConf had an open tab all night and your TabConf ticket got you in free.

@ComEatMeBra (Telegram) from the Church of Monero found this Hymnal with an M inscribed on it while walking through the street.

@joshuam_ (Twitter) from Decred was out late with us partying.

Feb 10

On this Sunday, the Church of Monero held is largest "in real life" Mass with five people from TabConf total participating.

Chris Derose, Daniel Krawisz, and Xeagu

We introduced two new members to the Church of Monero and had four people plus me participate in Mass.

I went to listen to the Lightning Network Panel and have been interested in this technology since I heard about the Lightning Network Torch Ceremony on Twitter where people send a "Torch" to each other using Lightning Network transactions. This ritual is similar to the Church of Monero Mass.

Afterwards I stayed for the CEO/Founder Panel with Paul Puey, Brian Hoffman, Stephen, Pair, and Wayne Vaughan (from left to right).

I think the CEO Panel was my favorite segment of the conference. The conference really put together a diverse speaker set and appropriately organized the CEO Panel in a way that was conducive to understand many different perspectives within the ecosystem. Estimates for victory in this crypto revolution range from 4 to 20 years. Private Key Custody will be an important variable in this process.

After the panel, I listened to Kevin Pham, Chris Derose, rm0rf, and several others further discuss the sovereignty of crypto nation states and between them the competition to develop the best blockchain tech.


Blockchain Mining Difficulty For Bitcoin And Ethereum Gets Boost For Top Two Crypto Coins - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/blockchain-mining-difficulty-for-bitcoin-and-ethereum-gets-boost-for-top-two-crypto-coins/

[Daily Discussion] Wednesday, February 13, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Global Bitcoin Acceptance Up More than 702% Since 2013 (current BTC/USD price is $3647.59053759)

Latest Bitcoin News:

Global Bitcoin Acceptance Up More than 702% Since 2013

Other Related Bitcoin Topics:

Bitcoin Price | Blockchain | ICOs


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[uncensored-r/BitcoinMarkets] Ten things to know about crypto taxation.

The following post by Sal-BitcoinTax is being replicated because some comments within the post(but not the post itself) have been silently removed.

The original post can be found(in censored form) at this link:

np.reddit.com/r/ BitcoinMarkets/comments/apiff7

The original post's content was as follows:


The IRS opened their e-filing on January 28th and many people are now filing their taxes.

While the new tax laws have changed a few things this year, most rules regarding cryptocurrencies have remained the same.

If you are new to including cryptocurrency in your tax returns, or just could do with a refresher, here are 10 useful pieces of information.

1. Profits from cryptocurrencies are capital gains

A tax event occurs whenever you dispose of any cryptocurrency. For each event, you have to calculate if you made or lost any money. These are declared as capital gains/losses (Schedule D) on your tax forms.

This includes:

  • selling crypto for fiat currency, e.g. trading it on an exchange for dollars
  • trading one crypto for another, e.g. buying ETH with BTC, as you are disposing of the BTC
  • spending crypto, e.g. buying a gift card

If you didn't receive a dollar amount, such as when selling for USD, then you would use the fair market value of the crypto at the time. This might be how much it was worth, or the value of the item you are acquiring. For example, if you buy a $100 gift card, then the fair market value of the BTC you are spending is $100.

It also doesn't matter if you traded and never withdrew the USD to your bank, or received crypto to your own wallet. If the account is under your control and you would have access to the received funds, then it needs to be declared. It also doesn't matter if it is a US or foreign exchange. For US taxpayers, all activity must be included.

2. Long-term gains have discounted tax rates

If you sell or spend your crypto that was owned for more than a year, it can be classed as long-term and any gains made will have discounted tax rates. The rate depends on your other income, but can be 15% or even 0% for lower income taxpayers. There is a 20% rate for high income earners.

You will need to keep records in case you are even asked to prove you owned them for longer than a year.

3. Losses can be offset against income to reduce taxes

To calculate your total capital gains, your short-term gains and losses are combined. Then any long-term gains and losses are combined. Finally, these totals are combined into a net gain or loss.

If you have a net loss, you can use it to deduct up to $3,000 against your normal taxable income, for example, saving $720 in taxes with a 24% tax rate.

Any remaining losses are carried forward to next year. They can again be used to reduce capital gains from that year as well as another $3,000 against income. This continues forever until you have used up all the losses.

4. Like-kind exchanges

Trading between cryptocurrencies is a tax event and you cannot use a 1031 like-kind exchange.

The new tax law in 2018 has changed the wording to:

No gain or loss shall be recognized on the exchange of real property held for productive use in a trade or business or for investment if such real property is exchanged solely for real property of like kind which is to be held either for productive use in a trade or business or for investment.

While some people reported using like-kind exchanges for 2017 and earlier, it definitely cannot be used for this tax year and onward.

5. Record forks, splits and airdrops

Any crypto you receive is treated as income on the day it was received. The dollar value is its fair price or market value.

While some crypto may have an established price, often, there is no market or known price. In this case, you should still add the crypto as Income, but for zero value.

This is needed for when they are eventually sold or traded, as you will use the date and amount from when they were acquired to work out the appropriate gains.

6. Being paid in cryptocurrency should be reported as if you received dollars

If you are paid with crypto, you should report the income as if you were paid in dollars. If you were paid by an employer, it is likely the figures have already been included in your W2 and there is nothing else you need to do.

But if you received crypto from self-employed, or other work, then you need to report the fair value as your income. For example, if you did some work that you would normally have been paid $1,000, but instead you received crypto, then you report $1,000 as income in your taxes. If you just received some crypto with no equivalent dollar value, then you must use the fair or market price of those crypto on the day you received them.

7. Tips/gifts aren't taxable

If you were tipped, as long as it was not for any provided product or service (i.e. you didn't earn it), then it is gift and does not need to reported and is not due income taxes.

However, if you were tipped or gifted crypto that you subsequently sell or trade, you will incur capital gains.

If you were given the cost basis along with those gifts, you can use this information to reduce any gains when you come to sell them. However, you cannot take losses from the basis of these coins, but instead have to use the market value on the date you received the gift.

8. Transfers do not have to be reported (but fees might)

When you transfer any crypto between various wallets or exchange accounts that you own, you do not need to report or pay any tax on those amounts.

However, you might need to report any fees associated with the transfer, either mining or withdrawal fees. These are disposals, where you are paying for a service, and so should be included as Spending even though the tax amount is likely negligible.

If you were transferring your crypto to an exchange to sell, you could add this to its basis, or deduct it from the proceeds you receive.

Any fees included for spending from a wallet should be included as part of the fair market value. For example, if you are spending 0.01 BTC on something worth $36 but have to include a mining 0.001 fee, you should record this as spending 0.011 BTC for $36.

9. Identify lost, stolen or fraudulent activity

Prior to 2018, stolen property could be claimed as a deduction by reporting it as a casualty loss (subject to certain amounts). This deduction has been removed and now is only available for presidential declared disasters.

While lost crypto could never have been claimed, as accidents or negligence are not tax deduction, losing crypto because of fraudulent activity could instead be seen as a capital loss. For example, if the crypto had become worthless or you are no longer able to access it.

Each situation is different and you should check with your tax professional to decide how to report any lost crypto due to fraudulent activity.

10. Keep records

You should keep records of all your crypto activity in case you are ever audited or required to show documentation relating to your tax returns. For example, you might be required to prove the long-term gains you declared were owned for more than a year.

The burden is always on you to keep documentation and perform record-keeping.

Recently, we have seen exchanges go offline and users have no access to their historical records, or even funds. You should access your accounts and download your data as frequently as needed.

  • Keep records of all your cryptocurrency activity.
  • Periodically download your trading history from any exchanges you use.
  • Export transaction logs from any wallets you have.
  • Ensure you have records for each time you spend any crypto.

This post is for informational purposes only and not intended as tax or financial advice. Please speak with your own tax professional on how you should treat the taxation of your own cryptocurrencies given you own circumstances. Disclaimer: I am a part of the bitcoin.tax team - a cryptocurrency capital gains calculation service.


[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


@radar_ion Please link to my guide as well, it is the fastest, easiest, and least expensive way to get on Bitcoin L… https://t.co/mPcWk94cBD - Crypto Dynamic Info - Whales's

Posted at: February 13, 2019 at 05:19AM

By:

@radar_ion Please link to my guide as well, it is the fastest, easiest, and least expensive way to get on Bitcoin L… https://t.co/mPcWk94cBD

Automate your Trading via Crypto Bot : http://bit.ly/2GynF9t

Join Telegram Channel for FREE Crypto Bot: Crypto Signal



Introducing the Newest BitMart Trading Guide!!!

😔 New to cryptocurrency? Don't know how to trade BTC or ETH?

😆 Not a problem! We are introducing our New User Tutorial, teaching you how to deposit and trade bitcoin step by step. Join us now and embrace digital asset for alternative investment!

➡️ Start your cryptocurrency journey right now:

https://reddit.com/link/apytg7/video/sflhvlv6l7g21/player

👏Check out our announcement for more details: https://support.bitmart.com/hc/en-us/articles/360015440454-BitMart-Trading-Guide



Jameson Lopp Compares Bitcoin to a New Form of Life, Relates BTC to the Human Body - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/jameson-lopp-compares-bitcoin-to-a-new-form-of-life-relates-btc-to-the-human-body/

Crypto Scammers Start Using False Images of Verification Pages to Gain Private Keys, Attack Accounts - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/crypto-scammers-start-using-false-images-of-verification-pages-to-gain-private-keys-attack-accounts/

[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Another Potential Bitcoin ETF Effort Emerges (current BTC/USD price is $3656.33092684)

Latest Bitcoin News:

Another Potential Bitcoin ETF Effort Emerges

Other Related Bitcoin Topics:

Bitcoin Price | Blockchain | ICOs


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


Simple Security Token Offering User Guide and STO FAQ for Crypto Investors - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/simple-security-token-offering-user-guide-and-sto-faq-for-crypto-investors/

[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


THE COLLECTIVEGO SYSTEM

https://i.redd.it/9eutkpwey6g21.png

This idea is particularly valid in advanced promoting. In the event that you don't have your focusing on laser-centred, you will drain cash by promoting to individuals who simply couldn't care less. It won't make any difference how clever your advertisement duplicate is, the manner by which dazzling your video is, the way amazing your pictures are, or how impeccable your greeting page is

Presentation

The creating position of cryptographic cash is polarizing a regularly expanding number of source customers and expecting to pick up it as an endeavor. Also, this arrangement is building up every day. Nevertheless, for abecedarians in the crypto promote, it is dangerous to get the pined for advanced cash without something close to a major understanding of the widespread working of the market itself.

Building the new period improvement for destiny to make also about quality on decentralized framework , and developing of value on control the board of crowdfunding to make as extensively with innovative and high control , so this makes all customer agreeable about quality on administrations ,still increment of framework decentralized to make too for control biological community for all correspondence execution on this stage so this is make developing for an incentive about this stage in future, and the development for network moved toward becoming for adding to this program , usage with enormous tech to oversee environment to set up so I think this is will make a manufacture this program too in future for giving the arrangement on oversee framework on decentralized to make too.

The first blockchain was envisioned by a self (or gathering of people) known as Satoshi Nakamoto in 2008.

It was propelled the next year in January 2009 by Nakamoto as a center component of the cryptographic money Bitcoin, where it fills in as the general population record for all exchanges on the system.

We ought to anticipate that, throughout the following couple decades, we will see a Cambrian report of blockchain applications and associations much like what occurred with the web in the course of recent decades or charge in the mid-twentieth century.

On the off chance that that is valid, it merits delivering a fundamental comprehension of blockchains, including why they matter and how they work.

Unmistakably coordinations is an extensive and complex industry requiring cautious following and extend periods of time of manual info and it is difficult to make everything straightforward for both the customer and maker. These days, acknowledgment of the improvement of blockchain innovation, coordination, and transport the board has changed a great deal. The manner in which physical merchandise are exchanged and sold can be significantly influenced. A few organizations have endeavored to discover goals for present day calculated issues, be that as it may, no arrangement is extremely ideal. Current alternatives are regularly too firm to even think about performing.

Outline

The Collective is a Guernsey-put together Fintech organization making do with respect to CDEX, a decentralized commercial center for Ethereum-based tokens and TraderOne — our unified trade. TraderOne will be a solid exchanging stage for all the diverse kinds of advanced resources. Also, we are satisfied to present to you The CollectiveGO diversion. The CollectiveGO Will be an amplified fact experience controlled by our local token and adapted through different computerized money publicists.

Who Is The Collective?

The Collective is a UK based Fin-tech Company that works a few items inside its biological community. At the center is the network the executives' organization submitted solely to the brooding and direction of ITOs. At the season of composing, The Collective is effectively overseeing more than 100,000 network individuals for customers, a number which is developing every day and will no uncertainty to proceed as we ready and join forces with particular and energizing customers.

The Collective likewise joins 2 trade stages:

· CDEX, a completely working worldwide decentralized commercial center for Ethereum based tokens.

· TraderOne is an incorporated trade. TraderOne will be a vigorous moving stage for exchanging every single separate sort of computerized resources.

We are furthermore offering the Community Development Exchange Token (CDEX) as a feature of our endeavours to subsidize and build up the activities referenced above; increasingly about this can be found in our white paper.

What makes us unique?

The appropriate response is basic. We put the locale at the core of all that we do. We hear them out, enable them, and make a move dependent on their proposals. In doing as such, we raise each other up.

We comprehend that when we deal with your general public you are entrusting us with your notoriety, ethos, and basic beliefs. We maintain, advance, and reinforce certain center principals utilizing an expert and experienced group who have a great many long stretches of joined experience including prominent customers. We are deliberately put the world over to guarantee you have inclusion 24 hours every day, 7 days seven days. It is the enthusiasm and commitment of each colleague that constructs the way to progress for each organization we take a shot at.

ICO Details

The Collective ICO Private Sale is currently live: https://www.chaincreator.market/icos/thecollectiveico

Current Bonus: half

Token sort: Utility, ERC-20

Ticker: CDEX

Token Price: 0.01 USD

Hard Cap: 20,000,000 USD

Max Supply: 8,000,000,000 CDEX

FOR FURTHER INFORMATION VISIT

site: https://www.thecollectivegroup.org

facebook: https://web.facebook.com/gatherings/1176407375842141

Instagram: https://www.instagram.com/thecollectivego

twitter: https://twitter.com/TheCollectiveGo

LinkedIn: https://www.linkedin.com/organization/the-collectivego

Telegram: https://t.me/CDEX_The_Collective

Creator

Bounty0x: @walesodiya


DeVere Group’s Nigel Green: The Start Of A ‘Considerable Bitcoin Surge’, Cites Halving As Spark - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/devere-groups-nigel-green-the-start-of-a-considerable-bitcoin-surge-cites-halving-as-spark/

[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


QuarkChain Testnet 2.0 Mining.

QuarkChain Testnet 1.0 was built based on standardized blockchain system requirements, which included network, wallet, browser, and virtual machine functionalities. Other than the fact that the token was a test currency, the environment was completely compatible with the main network. By enhancing the communication efficiency and security of the network, Testnet 2.0 further improves the openness of the network. In addition, Testnet 2.0 will allow community members (other than citizens or residents of the United States) to contribute directly to the network, i.e. running a full node and mining, and receive testnet tokens as rewards.

QuarkChain Testnet 2.0 will support multiple mining algorithms, including two typical algorithms: Ethash and Double SHA256, as well as QuarkChain’s unique algorithm called Qkchash – a customized ASIC-resistant, CPU mining algorithm, exclusively developed by QuarkChain. Mining is available both on the root chain and on shards due to QuarkChain’s two-layered blockchain structure. Miners can flexibly choose to mine on the root chain with higher computing power requirements or on shards based on their own computing power levels. Our Goal By allowing community members to participate in mining on Testnet 2.0, our goal is to enhance QuarkChain’s community consensus, encourage community members to participate in testing and building the QuarkChain network, and gain first-hand experience of QuarkChain’s high flexibility and usability. During this time, we hope that the community can develop a better understanding about our mining algorithms, sharding technologies, and governance structures, etc. Furthermore, this will be a more thorough challenge to QuarkChain’s design before the launch of mainnet! Thus, we sincerely invite you to join the Testnet 2.0 mining event and build QuarkChain’s infrastructure together!

Today, we’re pleased to announce that we are officially providing the CPU mining demo to the public (other than citizens and residents of the United States)! Everyone can participate in our mining event, and earn tQKC, which can be exchanged to real rewards by non-U.S. persons after the launch of our mainnet. Also, we expect to upgrade our testnet over time, and expect to allow GPU mining for Ethash, and ASIC mining for Double SHA256 in the future. In addition, in the near future, a mining pool that is compatible with all mining algorithms of QuarkChain is also expected to be supported.

We hope all the community members can join in with us, and work together to complete this milestone! 2 Introduction to Mining Algorithms 2.1 What is mining? Mining is the process of generating the new blocks, in which the records of current transactions are added to the record of past transactions. Miners use software that contribute their mining power to participate in the maintenance of a blockchain. In return, they obtain a certain amount of QKC per block, which is called coinbase reward. Like many other blockchain technologies, QuarkChain adopts the most widely used Proof of Work (PoW) consensus algorithm to secure the network.

A cryptographically-secure PoW is a costly and time-consuming process which is difficult to solve due to computation-intensity or memory intensity but easy for others to verify. For a block to be valid it must satisfy certain requirements and hash to a value less than the current target threshold. Reverting a block requires recreating all successor blocks and redoing the work they contain, which is costly.

By running a cluster, everyone can become a miner and participate in the mining process. The mining rewards are proportional to the number of blocks mined by each individual.

2.2 Introduction to QuarkChain Algorithms and Mining setup According to QuarkChain’s two-layered blockchain structure and Boson consensus, different shards can apply different consensus and mining algorithms. As part of the Boson consensus, each shard can adjust the difficulty dynamically to increase or decrease the hash power of each shard chain.

In order to fully test QuarkChain testnet 2.0, we adopt three different types of mining algorithms” Ethash, Double SHA256, and Qkchash, which is ASIC resistant and exclusively developed by QuarkChain founder Qi Zhou. These first two hash algorithms correspond to the mining algorithms dominantly conducted on the graphics processing unit (GPU) and application-specific integrated circuits (ASIC), respectively.

I. Ethash Ethash is the PoW mining algorithm for Ethereum. It is the latest version of earlier Dagger-Hashimoto. Ethash is memory intensive, which makes it require large amounts of memory space in the process of mining. The efficiency of mining is basically independent of the CPU, but directly related to memory size and bandwidth. Therefore, by design, building Ethash ASIC is relatively difficult. Currently, the Ethash mining is dominantly conducted on the GPU machines. Read more about Ethash: https://github.com/ethereum/wiki/wiki/Ethash

II. Double SHA256 Double SHA256 is the PoW mining algorithms for Bitcoin. It is computational intensive hash algorithm, which uses two SHA256 iterations for the block header. If the hash result is less than the specific target, the mining is successful. ASIC machine has been developed by Bitmain to find more hashes with less electrical power usage. Read more about Double SHA256: https://en.bitcoin.it/wiki/Block_hashing_algorithm

III. Qkchash Originally, Bitcoin mining was conducted on the CPU of individual computers, with more cores and greater speed resulting in more profitability. After that, the mining process became dominated by GPU machines, then field-programmable gate arrays (FPGA) and finally ASIC, in a race to achieve more hash rates with less electrical power usage. Due to this arms race, it has become increasingly harder for prospective new miners to join. This raises centralization concerns because the manufacturers of the high-performance ASIC are concentrated in a small few.

To solve this, after extensive research and development, QuarkChain founder Dr. Qi Zhou has developed mining algorithm — Qkchash, that is expected to be ASIC-resistant. The idea is motivated by the famous date structure orders-statistic tree. Based on this data structure, Qkchash requires to perform multiple search, insert, and delete operations in the tree, which tries to break the ASIC pipeline and makes the code execution path to be data-dependent and unpredictable besides random memory-access patterns. Thus, the mining efficiency is closely related to the CPU, which ensures the security of Boston consensus and encourges the mining decentralization.

Please refer to Dr. Qi’s paper for more details: https://medium.com/quarkchain-official/order-statistics-based-hash-algorithm-e40f108563c4

2.3 Testnet 2.0 mining configuration Numbers of Shards: 8 Cluster: According to the real-time online mining node The corresponding mining algorithm is Read more about Ethash with Guardian: https://github.com/QuarkChain/pyquarkchain/wiki/Ethash-with-Guardian)

We will provide cluster software and the demo implementation of CPU mining to the public. Miners are able to arbitrarily select one shard or multiple shards to mine according to the mining difficulty and rewards of different shards. GPU / ASIC mining is allowed if the public manages to get it working with the current testnet. With the upgrade of our testnet, we will further provide the corresponding GPU / ASIC software.

QuarkChain’s two-layered blockchain structure, new P2P mode, and Boson consensus algorithm are expected tobe fully tested and verified in the QuarkChain testnet 2.0. 3 Mining Guidance In order to encourage all community members to participate in QuarkChain Testnet 2.0 mining event, we have prepared three mining guidances for community members of different backgrounds.

Today we are releasing the Docker Mining Tutorial first. This tutorial provides a command line configuration guide for developers and a docker image for multiple platforms, including a concise introduction of nodes and mining settings. Follow the instructions here: Quick Start with QuarkChain Mining.

Next we will continue to release: A tutorial for community members who don’t have programming background. In this tutorial, we will teach how to create private QuarkChain nodes using AWS, and how to mine QKC step by step. This tutorial is expected to be released in the next few days. Programs and APIs integrated with GPU / ASIC mining. This is expected to allow existing miners to switch to QKC mining more seamlessly. Frequently Asked Questions: 1. Can I use my laptop or personal computer to mine? Yes, we will provide cluster software and the demo implementation of CPU mining to the public. Miners will be able to arbitrarily select one shard or multiple shards to mine according to the work difficulty and rewards of different shards. 2. What is the minimum requirements for my laptop or personal computer to mine? Please prepare a Linux or MacOs machine with public IP address or port forwarding set up. 3. Can I mine with my GPU or an ASIC machine? For now, we will only be providing the demo implementation of CPU mining as our first step. Interested miners/developers can rewrite the corresponding GPU / ASIC mining program, according to the JSON RPC API we provided. With the upgrade of our testnet, we expect to provide the corresponding GPU / ASIC interface at a later date. 4. What is the difference among the different mining algorithms? Which one should I choose? Double SHA256 is a computational intensive algorithm, but Ethash and Qkchash are memory intensive algorithms, which have certain requirements on the computer’s memory. Since currently we only support CPU mining, the mining efficiency entirely depends on the cores and speed of CPU. 5. For testnet mining, what else should I know? First, the mining process will occupy a computer’s memory. Thus, it is recommended to use an idle computer for mining. In Testnet 2.0 settings, the target block time of root chain is 60 seconds, and the target block time of shard chain is 10 seconds. The mining is a completely random process, which will take some time and consume a certain amount of electricity. 6. What are the risks of testnet mining? Currently our testnet is still under the development stage and may not be 100% stable. Thus, there would be some risks for QuarkChain main chain forks in testnet, software upgrades and system reboots. These may cause your tQKC or block record to be lost despite our best efforts to ensure the stability and security of the testnet.

For more technical questions, welcome to join our developer community on Discard: https://discord.me/quarkchain. 4 Reward Mechanism Testnet 2.0 and all rewards described herein, including mining, are not being offered and will not be available to any citizens or residents of the United States and certain other jurisdictions. All rewards will only be payable following the mainnet launch of QuarkChain. In order to claim or receive any of the following rewards after mainnet launch, you will be required to provide certain identifying documentation and information about yourself. Failure to provide such information or demonstrate compliance with the restrictions herein may result in forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other sanctions.

NO U.S. PERSONS MAY PARTICIPATE IN TESTNET 2.0 AND QUARKCHAIN WILL STRICTLY ENFORCE THIS VIA OUR KYC PROCEDURES. IF YOU ARE A CITIZEN OR RESIDENT OF THE UNITED STATES, DO NOT PARTICIPATE IN TESTNET 2.0. YOU WILL NOT RECEIVE ANY REWARDS FOR YOUR PARTICIPATION.

4.1 Mining Rewards

  1. Prize Pool A total of 5 million QKC prize pool have been reserved to motivate all miners to participate in the testnet 2.0 mining event. According to the different mining algorithms, the prize pool is allocated as follows:

Total Prize Pool: 5,000,000 QKC Prize Pool for Ethash Algorithm: 2,000,000 QKC Prize Pool for Double SHA256 Algorithm: 1,000,000 QKC Prize Pool for Qkchash Algorithm: 2,000,000 QKC

The number of QKC each miner is eligible to receive upon mainnet launch will be calculated on a pro rata basis for each mining algorithm set forth above, based on the ratio of sharded block mined by each miner to the total number of sharded block mined by all miners employing such mining algorithm in Testnet 2.0.

  1. Early-bird Rewards To encourage more people to participate early, we will provide early bird rewards. Miners who participate in the first month (December 2018, PST) will enjoy double points. This additional point reward will be ended on December 31, 2018, 11:59pm (PST).

4.2 Bonus for Bug Submission: If you find any bugs for QuarkChain testnet, please feel free to create an issue on our Github page: https://github.com/QuarkChain/pyquarkchain/issues, or send us an email to developers@quarkchain.org. We may provide related rewards based on the importance and difficulty of the bugs.

4.3 Reward Rules: QuarkChain reserves the right to review the qualifications of the participants in this event. If any cheating behaviors were to be found, the participant will be immediately disqualified from any rewards. QuarkChain further reserves the right to update the rules of the event, to stop the event/network, or to restart the event/network in its sole discretion, including the right to interpret any rules, terms or conditions. For the latest information, please visit our official website or follow us on Telegram/Twitter. About QuarkChain QuarkChain is a flexible, scalable, and user-oriented blockchain infrastructure by applying blockchain sharding technology. It is one of the first public chains that successfully implemented state sharding technology for blockchain in the world. QuarkChain aims to deliver 100,000+ on-chain TPS. Currently, 14,000+ peak TPS has already been achieved by an early stage testnet. QuarkChain already has over 50 partners in its ecosystem. With flexibility, scalability, and usability, QuarkChain is enabling EVERYONE to enjoy blockchain technology at ANYTIME and ANYWHERE.

Testnet 2.0 and all rewards described herein are not being and will not be offered in the United States or to any U.S. persons (as defined in Regulation S promulgated under the U.S. Securities Act of 1933, as amended) or any citizens or residents of countries subject to sanctions including the Balkans, Belarus, Burma, Cote D’Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Zimbabwe, Central African Republic, Crimea, Lebanon, Libya, Somalia, South Suda, Venezuela and Yemen. QuarkChain reserves the right to terminate, suspend or prohibit participation of any user in Testnet 2.0 at any time.

In order to claim or receive any rewards, including mining rewards, you will be required to provide certain identifying documentation and information. Failure to provide such information or demonstrate compliance with the restrictions herein may result in termination of your participation, forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other actions.

This announcement is provided for informational purposes only and does not guarantee anyone a right to participate in or receive any rewards in connection with Testnet 2.0.

Note: The use of Testnet 2.0 is subject to our terms and conditions available at: https://quarkchain.io/testnet-2-0-terms-and-conditions/

more about qurakchain: Website: https://quarkchain.io/cn/ Facebook: https://www.facebook.com/quarkchainofficial/ Twitter: https://twitter.com/Quark_Chain Telegram: https://t.me/quarkchainio


[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


QuarkChain Testnet 2.0 Mining.

QuarkChain Testnet 1.0 was built based on standardized blockchain system requirements, which included network, wallet, browser, and virtual machine functionalities. Other than the fact that the token was a test currency, the environment was completely compatible with the main network. By enhancing the communication efficiency and security of the network, Testnet 2.0 further improves the openness of the network. In addition, Testnet 2.0 will allow community members (other than citizens or residents of the United States) to contribute directly to the network, i.e. running a full node and mining, and receive testnet tokens as rewards.

QuarkChain Testnet 2.0 will support multiple mining algorithms, including two typical algorithms: Ethash and Double SHA256, as well as QuarkChain’s unique algorithm called Qkchash – a customized ASIC-resistant, CPU mining algorithm, exclusively developed by QuarkChain. Mining is available both on the root chain and on shards due to QuarkChain’s two-layered blockchain structure. Miners can flexibly choose to mine on the root chain with higher computing power requirements or on shards based on their own computing power levels. Our Goal By allowing community members to participate in mining on Testnet 2.0, our goal is to enhance QuarkChain’s community consensus, encourage community members to participate in testing and building the QuarkChain network, and gain first-hand experience of QuarkChain’s high flexibility and usability. During this time, we hope that the community can develop a better understanding about our mining algorithms, sharding technologies, and governance structures, etc. Furthermore, this will be a more thorough challenge to QuarkChain’s design before the launch of mainnet! Thus, we sincerely invite you to join the Testnet 2.0 mining event and build QuarkChain’s infrastructure together!

Today, we’re pleased to announce that we are officially providing the CPU mining demo to the public (other than citizens and residents of the United States)! Everyone can participate in our mining event, and earn tQKC, which can be exchanged to real rewards by non-U.S. persons after the launch of our mainnet. Also, we expect to upgrade our testnet over time, and expect to allow GPU mining for Ethash, and ASIC mining for Double SHA256 in the future. In addition, in the near future, a mining pool that is compatible with all mining algorithms of QuarkChain is also expected to be supported.

We hope all the community members can join in with us, and work together to complete this milestone! 2 Introduction to Mining Algorithms 2.1 What is mining? Mining is the process of generating the new blocks, in which the records of current transactions are added to the record of past transactions. Miners use software that contribute their mining power to participate in the maintenance of a blockchain. In return, they obtain a certain amount of QKC per block, which is called coinbase reward. Like many other blockchain technologies, QuarkChain adopts the most widely used Proof of Work (PoW) consensus algorithm to secure the network.

A cryptographically-secure PoW is a costly and time-consuming process which is difficult to solve due to computation-intensity or memory intensity but easy for others to verify. For a block to be valid it must satisfy certain requirements and hash to a value less than the current target threshold. Reverting a block requires recreating all successor blocks and redoing the work they contain, which is costly.

By running a cluster, everyone can become a miner and participate in the mining process. The mining rewards are proportional to the number of blocks mined by each individual.

2.2 Introduction to QuarkChain Algorithms and Mining setup According to QuarkChain’s two-layered blockchain structure and Boson consensus, different shards can apply different consensus and mining algorithms. As part of the Boson consensus, each shard can adjust the difficulty dynamically to increase or decrease the hash power of each shard chain.

In order to fully test QuarkChain testnet 2.0, we adopt three different types of mining algorithms” Ethash, Double SHA256, and Qkchash, which is ASIC resistant and exclusively developed by QuarkChain founder Qi Zhou. These first two hash algorithms correspond to the mining algorithms dominantly conducted on the graphics processing unit (GPU) and application-specific integrated circuits (ASIC), respectively.

I. Ethash Ethash is the PoW mining algorithm for Ethereum. It is the latest version of earlier Dagger-Hashimoto. Ethash is memory intensive, which makes it require large amounts of memory space in the process of mining. The efficiency of mining is basically independent of the CPU, but directly related to memory size and bandwidth. Therefore, by design, building Ethash ASIC is relatively difficult. Currently, the Ethash mining is dominantly conducted on the GPU machines. Read more about Ethash: https://github.com/ethereum/wiki/wiki/Ethash

II. Double SHA256 Double SHA256 is the PoW mining algorithms for Bitcoin. It is computational intensive hash algorithm, which uses two SHA256 iterations for the block header. If the hash result is less than the specific target, the mining is successful. ASIC machine has been developed by Bitmain to find more hashes with less electrical power usage. Read more about Double SHA256: https://en.bitcoin.it/wiki/Block_hashing_algorithm

III. Qkchash Originally, Bitcoin mining was conducted on the CPU of individual computers, with more cores and greater speed resulting in more profitability. After that, the mining process became dominated by GPU machines, then field-programmable gate arrays (FPGA) and finally ASIC, in a race to achieve more hash rates with less electrical power usage. Due to this arms race, it has become increasingly harder for prospective new miners to join. This raises centralization concerns because the manufacturers of the high-performance ASIC are concentrated in a small few.

To solve this, after extensive research and development, QuarkChain founder Dr. Qi Zhou has developed mining algorithm — Qkchash, that is expected to be ASIC-resistant. The idea is motivated by the famous date structure orders-statistic tree. Based on this data structure, Qkchash requires to perform multiple search, insert, and delete operations in the tree, which tries to break the ASIC pipeline and makes the code execution path to be data-dependent and unpredictable besides random memory-access patterns. Thus, the mining efficiency is closely related to the CPU, which ensures the security of Boston consensus and encourges the mining decentralization.

Please refer to Dr. Qi’s paper for more details: https://medium.com/quarkchain-official/order-statistics-based-hash-algorithm-e40f108563c4

2.3 Testnet 2.0 mining configuration Numbers of Shards: 8 Cluster: According to the real-time online mining node The corresponding mining algorithm is Read more about Ethash with Guardian: https://github.com/QuarkChain/pyquarkchain/wiki/Ethash-with-Guardian)

We will provide cluster software and the demo implementation of CPU mining to the public. Miners are able to arbitrarily select one shard or multiple shards to mine according to the mining difficulty and rewards of different shards. GPU / ASIC mining is allowed if the public manages to get it working with the current testnet. With the upgrade of our testnet, we will further provide the corresponding GPU / ASIC software.

QuarkChain’s two-layered blockchain structure, new P2P mode, and Boson consensus algorithm are expected tobe fully tested and verified in the QuarkChain testnet 2.0. 3 Mining Guidance In order to encourage all community members to participate in QuarkChain Testnet 2.0 mining event, we have prepared three mining guidances for community members of different backgrounds.

Today we are releasing the Docker Mining Tutorial first. This tutorial provides a command line configuration guide for developers and a docker image for multiple platforms, including a concise introduction of nodes and mining settings. Follow the instructions here: Quick Start with QuarkChain Mining.

Next we will continue to release: A tutorial for community members who don’t have programming background. In this tutorial, we will teach how to create private QuarkChain nodes using AWS, and how to mine QKC step by step. This tutorial is expected to be released in the next few days. Programs and APIs integrated with GPU / ASIC mining. This is expected to allow existing miners to switch to QKC mining more seamlessly. Frequently Asked Questions: 1. Can I use my laptop or personal computer to mine? Yes, we will provide cluster software and the demo implementation of CPU mining to the public. Miners will be able to arbitrarily select one shard or multiple shards to mine according to the work difficulty and rewards of different shards. 2. What is the minimum requirements for my laptop or personal computer to mine? Please prepare a Linux or MacOs machine with public IP address or port forwarding set up. 3. Can I mine with my GPU or an ASIC machine? For now, we will only be providing the demo implementation of CPU mining as our first step. Interested miners/developers can rewrite the corresponding GPU / ASIC mining program, according to the JSON RPC API we provided. With the upgrade of our testnet, we expect to provide the corresponding GPU / ASIC interface at a later date. 4. What is the difference among the different mining algorithms? Which one should I choose? Double SHA256 is a computational intensive algorithm, but Ethash and Qkchash are memory intensive algorithms, which have certain requirements on the computer’s memory. Since currently we only support CPU mining, the mining efficiency entirely depends on the cores and speed of CPU. 5. For testnet mining, what else should I know? First, the mining process will occupy a computer’s memory. Thus, it is recommended to use an idle computer for mining. In Testnet 2.0 settings, the target block time of root chain is 60 seconds, and the target block time of shard chain is 10 seconds. The mining is a completely random process, which will take some time and consume a certain amount of electricity. 6. What are the risks of testnet mining? Currently our testnet is still under the development stage and may not be 100% stable. Thus, there would be some risks for QuarkChain main chain forks in testnet, software upgrades and system reboots. These may cause your tQKC or block record to be lost despite our best efforts to ensure the stability and security of the testnet.

For more technical questions, welcome to join our developer community on Discard: https://discord.me/quarkchain. 4 Reward Mechanism Testnet 2.0 and all rewards described herein, including mining, are not being offered and will not be available to any citizens or residents of the United States and certain other jurisdictions. All rewards will only be payable following the mainnet launch of QuarkChain. In order to claim or receive any of the following rewards after mainnet launch, you will be required to provide certain identifying documentation and information about yourself. Failure to provide such information or demonstrate compliance with the restrictions herein may result in forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other sanctions.

NO U.S. PERSONS MAY PARTICIPATE IN TESTNET 2.0 AND QUARKCHAIN WILL STRICTLY ENFORCE THIS VIA OUR KYC PROCEDURES. IF YOU ARE A CITIZEN OR RESIDENT OF THE UNITED STATES, DO NOT PARTICIPATE IN TESTNET 2.0. YOU WILL NOT RECEIVE ANY REWARDS FOR YOUR PARTICIPATION.

4.1 Mining Rewards

  1. Prize Pool A total of 5 million QKC prize pool have been reserved to motivate all miners to participate in the testnet 2.0 mining event. According to the different mining algorithms, the prize pool is allocated as follows:

Total Prize Pool: 5,000,000 QKC Prize Pool for Ethash Algorithm: 2,000,000 QKC Prize Pool for Double SHA256 Algorithm: 1,000,000 QKC Prize Pool for Qkchash Algorithm: 2,000,000 QKC

The number of QKC each miner is eligible to receive upon mainnet launch will be calculated on a pro rata basis for each mining algorithm set forth above, based on the ratio of sharded block mined by each miner to the total number of sharded block mined by all miners employing such mining algorithm in Testnet 2.0.

  1. Early-bird Rewards To encourage more people to participate early, we will provide early bird rewards. Miners who participate in the first month (December 2018, PST) will enjoy double points. This additional point reward will be ended on December 31, 2018, 11:59pm (PST).

4.2 Bonus for Bug Submission: If you find any bugs for QuarkChain testnet, please feel free to create an issue on our Github page: https://github.com/QuarkChain/pyquarkchain/issues, or send us an email to developers@quarkchain.org. We may provide related rewards based on the importance and difficulty of the bugs.

4.3 Reward Rules: QuarkChain reserves the right to review the qualifications of the participants in this event. If any cheating behaviors were to be found, the participant will be immediately disqualified from any rewards. QuarkChain further reserves the right to update the rules of the event, to stop the event/network, or to restart the event/network in its sole discretion, including the right to interpret any rules, terms or conditions. For the latest information, please visit our official website or follow us on Telegram/Twitter. About QuarkChain QuarkChain is a flexible, scalable, and user-oriented blockchain infrastructure by applying blockchain sharding technology. It is one of the first public chains that successfully implemented state sharding technology for blockchain in the world. QuarkChain aims to deliver 100,000+ on-chain TPS. Currently, 14,000+ peak TPS has already been achieved by an early stage testnet. QuarkChain already has over 50 partners in its ecosystem. With flexibility, scalability, and usability, QuarkChain is enabling EVERYONE to enjoy blockchain technology at ANYTIME and ANYWHERE.

Testnet 2.0 and all rewards described herein are not being and will not be offered in the United States or to any U.S. persons (as defined in Regulation S promulgated under the U.S. Securities Act of 1933, as amended) or any citizens or residents of countries subject to sanctions including the Balkans, Belarus, Burma, Cote D’Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Zimbabwe, Central African Republic, Crimea, Lebanon, Libya, Somalia, South Suda, Venezuela and Yemen. QuarkChain reserves the right to terminate, suspend or prohibit participation of any user in Testnet 2.0 at any time.

In order to claim or receive any rewards, including mining rewards, you will be required to provide certain identifying documentation and information. Failure to provide such information or demonstrate compliance with the restrictions herein may result in termination of your participation, forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other actions.

This announcement is provided for informational purposes only and does not guarantee anyone a right to participate in or receive any rewards in connection with Testnet 2.0.

Note: The use of Testnet 2.0 is subject to our terms and conditions available at: https://quarkchain.io/testnet-2-0-terms-and-conditions/

more about qurakchain: Website: https://quarkchain.io/cn/ Facebook: https://www.facebook.com/quarkchainofficial/ Twitter: https://twitter.com/Quark_Chain Telegram: https://t.me/quarkchainio



NFC Wallet Card: Secure Crypto Asset And Personal Data Protection - Bitcoin Exchange Guide

https://bitcoinexchangeguide.com/nfc-wallet-card/

[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Bitcoin backs off three-week high, trades below $3600 (current BTC/USD price is $3638.35509775)

Latest Bitcoin News:

Bitcoin backs off three-week high, trades below $3600

Other Related Bitcoin Topics:

Bitcoin Price | Blockchain | ICOs


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


[Daily Discussion] Tuesday, February 12, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Bitcoin Exchange Guide | Fructus ICO: Decentralized Blockchain For Organic Food?

What Is Fructus?

Fructus is a decentralized marketplace where consumers can purchase a wide range of products directly from manufactures and enjoy low and transparent costs with the opportunity to save on costs through participating in promotions. Manufactures will also have the opportunity to compete for consumers and directly interact with them.

Fructus aims at disrupting the business of fresh produce trading and delivery through solving the trust issues concerning fresh produce being GMO's (Genetically Modified Organism) or 100% organic. The platform will also ensure that expired produce is not sold to consumers and eliminate slow and wasteful processes.

https://i.redd.it/6oido5gdj5g21.jpg

How Fructus Decentralized Blockchain For Organic Food Works
To participate in the fresh produce trading, users are required to create an account on the platform. After creating the account, the user will also receive a cryptocurrency wallet. The wallet will store data in the Fructuschain, which is the platform’s decentralized database. The wallet will also have the ability to interact and transact with other users on the Fructus platform using smart contracts.

Once an order is placed via the Fructus web portal or Fructus app, the produce will be delivered to the fulfillment centers where the orders are assembled. Couriers will then pick up the orders from the fulfillment center and deliver it to the consumer.

Suppliers and manufactures on Fructus will register proof of seeds and pesticide they used to grow the produce. The data is then recorded on the blockchain using certified scanners on the Fructus app to ensure that the suppliers and manufactures are not fraudulent. Consumers will then be able to view where the food came from and how it was manufactured.

Fructus Refund Policy

Consumers can also register proof of products that do not meet the set standards and claim a refund of their money. This will encourage the suppliers to send consumers quality and fresh produce in order to avoid refunds. The supplier rating system enables consumers rate the suppliers based on their performance, which will drive towards an honest and transparent ecosystem.

If there are produce that are found to be unfit for consumption, they are taken to the local Fructus-Spot where they are distributed to the local Compost Farms and the initial supplier receives payment for products that would not have been sold.

Fructus Advantages

Transparency:
Fructus will promote transparency, as all the transactions on Fructus are processed and recorded on the blockchain and all the parties will be able to track the products and their payment. For instance, customers will have insights on the product origin and what was used to grow it while suppliers will be able to manage their sale and incentives.

Reduced Costs:
The elimination of intermediaries between the suppliers and customers will enable them to connect without the need for grocery shops, thus keeping the products cost-efficient and fresh at the same time.

Secure:
The use of Fructuscoins instead of fiat currencies will secure and sustain the Fructus network, since all the trades and deliveries will be fully decentralized.

https://bitcoinexchangeguide.com/fructus-ico-fructus-coin/

https://i.redd.it/2jcl7p7pj5g21.jpg