Monday, October 21, 2019

What is money ?

What is money and how does Crypto or Digital Currency fit in?

There’s an old saying that states: “Money makes the world go-round.”

Well that is not exactly true, but it does impart an idea of energy, and on a functional level, money can perhaps be best described as energy.

But is it really?

Money itself is not energy. It does not push, pull, lift, or otherwise move anything or make anything happen. So, what is it?

As stated by Sean Worthington, the author of the book “Beyond Bitcoin: The future of Digital Currency. 

https://reddit.com/link/dld6y0/video/vv6bas5uz0u31/player

Money is DATA

Monetary systems are, in fact, information systems.

This is such a brilliant, simple and elegant definition, because financial communication systems, in whatever form, be it shells, coins, beads, tally-sticks made of wood, numbers on a credit card, paper, or rocks from the island of Yap as shown below, are all part of an information system. They are systems containing symbols or a combination of symbols; in other words, (DATA) that is a representation of money. They represent stored, and exchangeable energy that has the capacity to do work that is needed to accomplish something.

https://i.redd.it/v95jfk0wz0u31.png

These rocks on the island of Yap symbolize how wealthy each of their owners are.

This is a centralized public information system.

To simplify further, energy in the form of money can be equated to a symbol representing the potential to DO, that when utilized can accomplish something.

Money can then be said to be DATA about transferrable energy or about the power to DO something, even as simple as doing something like buying, with the end-product being to HAVE.

You’ve probably heard someone say, “Oh, if I only had a million dollars, I could DO what I want to and be happy.”

That’s because money represents the capability of creating change. People want to HAVE money so that they can DO things and BE happy. Many psychologists and some lottery winners might tell you that the “have-do-be” sequence does not often lead to happiness, but it does give an idea of how some may consider money.

How people consider money because there is a psychological element to money; a very important one, and that is:

CONFIDENCE

The DATA, no matter how it is represented (shells, coins, paper, digits, etc.), says that “Joe” has X number of credits in his account.

Confidence begins with:

  1. Knowing that the data saying “Joe has those credits” is true.
  2. Knowing that those credits (shells, coins, paper, digits, etc.) are real – and not false like a counterfeit $100 bill.

One must be confident that the system that says “Joe has the credits in his account” is dependablycorrect and that the money is real.

Services such as Visa and MasterCard provide guarantees to merchants that the customer has the necessary credits and that so long as the transaction does not turn out to be fraudulent, they will pay the amount being charged or debited.

Many stores and banks now have counterfeit detection devices (scanners, etc.) to ensure that a $100 bill being handed to them is a legitimate bill.

Physical Integrity: involves maintaining the consistency, accuracy, and trustworthiness of data over its entire life cycle. Data must not be changed in transit, and steps must be taken to ensure that data cannot be altered by unauthorized people.

There are currently two types of decentralized physical integrity systems.

Cryptocurrencies such as Bitcoin, Ethereum and many others, are based upon the underlying Blockchain technology that sprung upon the world over ten years ago, in 2008.

Blockchain is a continually growing public ledger system that uses sophisticated cryptography, called elliptic curve cryptography, which requires a public key and a private key for access.

Blockchain ensures integrity via a decentralized community of independent monitors called “miners,” whose cross-validated recognition must represent a consensus.

A consensus does not require total agreement but does require agreement between most of the independent miner nodes in the system. Once a consensus is reached and it is recorded on the public ledger, it is then an agreed-upon reality, one that cannot be changed except by another consensus, meaning a new majority of independent agreement from “miners” who do not have a vested interest in just promoting their own thing. 

The other is not a cryptocurrency, but rather a new digital cloud-based currency called CloudCoin™. This new cloud-based currency is not dependent on encryption to lock the money (valuable data) away somewhere. With CloudCoin™ the encryption is within the resource itself … the coin contains the encryption.

A major difference between the two is that while Blockchain is a record-keeping ledger system, CloudCoin™ is simply an authentication system. (Think paper money and counterfeit detection machines.) CloudCoin™ simply authenticates that the money is real and transfers ownership of it. That’s all. There is no ledger. The money is not logged or tracked.  It’s like paying with a paper currency.

But instead of being authenticated by one server, similar to what happens with a counterfeit detection terminal, CloudCoins™ are simultaneously authenticated by multiple clouds of servers. These clouds have what is called a root-server with a number of other clouds below it that carry out specific functions.

CloudCoin™ has 25 different root-server clouds for each CloudCoin™.

That equals more root-server clouds than service the entire world-wide Internet’s DNS (domain name system,) which is comprised of 13.

As can be seen in the chart below, each root-server cloud has a hierarchy of servers below it to carry out specific functions. In the DNS system, server nodes beneath the root-server handle different functions.

https://i.redd.it/kfj2c0ryz0u31.png

The DNS system was developed by Paul Mockapetris who was a fresh out school Computer Science graduate.

The DMS translates numerical addresses like, 74.125.224.72 into names like Google.

The system is very secure and robust. It is considered the most critical infrastructure on the planet. Lucky for us it’s a very robust, fault-tolerant system and a redundant one. First, each of the 13 root servers are situated in different geographical regions of the world. No one ever expected all 13 DNS root-servers to be up all the time, and historically they haven’t been. That’s why DNS redundancy was implemented as a failsafe solution or backup mechanism. This means that if one of the DNS root-servers goes down it is replaced by another. It also means that an incoming duty request can be received and processed by any of the different root-servers and passed along to another. The system was developed in this way in coordination with the military who wanted to ensure a safe and stable system.

The DNS has been operating since 1985 and though there’s been a few hiccups, it has never been brought down!

The RAIDA

The underlying technology for CloudCoin is called RAIDA(Redundant Array of Independent Detection Agents). RAIDA is a post-blockchain process; a decentralized counterfeit detection and monetary transfer system that has many independent agents or clouds strategically placed in different countries around the world.

https://i.redd.it/jehaadm001u31.png

The RAIDA has been built in a similar fashion to the DNS server network which as mentioned has been in uninterrupted operation since 1985.

The DNS system has 13 root servers and approximately 750 sub-server nodes, while RAIDA is built with 25 root servers called Sentinels and 800 sub-server nodes called Detection Agents.

Like Blockchain, it works through independent consensus of agreement. However, unlike the Blockchain, the CloudCoin™ system does not contain any sort of ledger and is totally private

CONFIDENCE is the key word.

  • Confidence that the credits are there.
  • Confidence that the money is not counterfeit.
  • Confidence that the system is robust and can withstand attack.
  • Confidence that ownership of the underlying money itself can be transmitted safely.
  • Confidence that lost coins can be recovered. (No permanent loss.)
  • Confidence that the money will be accepted by others. The value of cryptocurrencies like Bitcoin or Ethereum are consensus-based, meaning that its value varies based upon the majority agreement of the people using it. CloudCoin™ is also a consensus-based currency.

The most basic confidence of those listed above is the last. Do you have the confidence that the “money” will be accepted by others?

Blockchain based currencies like Bitcoin have already been on the market for about ten years, and though volatile, though many hackings have occurred, and though people have lost over 3 million Bitcoins which could not be recovered, it has still developed a large following. According to new research from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Those numbers imply 17% to 23% of existing bitcoins, which are today worth around $11,000 each, are lost.

In ten years, Bitcoin went from being worth less than a penny each to its current valuation (9 August 2019) of over $11,000 each. 

CloudCoin™ is now where Bitcoin was eight years ago, selling for a few cents, but the advanced technology embodied by CloudCoin™ is on track to replace the ten-year-old blockchain technology, in large part because it cannot be hacked, lost coins can be recovered, it’s faster and more dependable.

The world runs on confidence

… and falls apart when it’s not there

Though governments attempt to enforce the use of their fiat currencies, if the confidence in any fiat currency drops, including the dollar, the value and desirability of that currency drops.

EXCHANGE

The next basic element regarding money is that it is a method of exchange; one that grew out of the limited usefulness of direct barter through the adoption of a symbolic representation of value which we call money. The invention and acceptance of different forms of money allowed the formation of cities, provinces, states, countries and finally, world commerce.

Exchange could now take place indirectly. It was no longer necessary to exchange eggs for vegetables. You could exchange your eggs for “money” and then trade that with others for food, clothing, shelter, etc.

Many different types of money evolved in different areas. Money changing became a business that is spoken about in the Bible. Many systems evolved, and as they did, they were tied together by associations like the Knights Templar, and then formularized banking began in Italy which expanded the ability to trade across large expanses, cumulating in the interlinked world-wide banking system we have today.

However, without confidence or trust in the medium of exchange or in the system or people running the system, it does not work. As trust erodes, people look for solutions, such as cryptocurrencies or CloudCoin™ that operate independent of trust that can be co-opted.

Lest that seem over-simplified, it should be stated that exchange is a method of communication … and given that the communication is true, if that exchange is blocked, restricted, or dictated by some “power,” then it would be like a violation of the First Amendment of the U.S. Constitution which is, of course, “Freedom of Speech.”

So, what does this have to do with cryptocurrencies or digital systems like CloudCoin?

A very bright man by the name of Jim Rickards, who is a well-known and well-respected monetary economist, has stated that you cannot really discuss cryptocurrencies in general because each one of them is different. In large part, the reason so many different cryptocurrencies exist is that the original goal of Bitcoin has not been fulfilled. Each represents an attempted solution to a failure of one kind or another.

Mr. Rickards also believes that only a select few cryptocurrencies will survive and, without naming any one, he listed what he feels are the main characteristics that one should look for when examining them. He calls it his COINN system, and states that an optimum system fits all of them.

COINN

C = Consensus: Consensus basically stands for general agreement, but in this case, it refers to agreement from independent participants. You can think of it like the unpaid listings in a Google search, or information in Wikipedia that gets input from many sources, and then based upon the level of agreement, provides the most agreed upon or valued answers and/or rankings. With Google, the more “hits” a webpage or article receives, the higher up in the search it will be placed.

With a cryptocurrency, the independent nodes are operated by “miners” who ensure the validity of transactions, and it’s their job to see that the system works as it should. When a majority of miners are in agreement, a consensus has been reached.

However, the safety of this system could be compromised if a few major players hold anything close to a majority of the currency. It has been said (though not verified) that upwards of 40% of the Bitcoins being traded are owned by a few thousand people.  That’s the equivalent of 1% who, when joined together into groups, have the ability to manipulate the market outside of the consensus safety measures provided by the system itself.

Of course, this is nothing new. Just think of price fixing in major industries, or look at the interlocking interests of the banking system, and its control of the currency, value of gold, etc.

So, what do knowledgeable people think about the different systems and cryptocurrencies that exist? This COINN system developed by Jim Richards is a good starting pointfor evaluation. Think of it as a guide.

CloudCoin™ is still new and going through its growing stage just like Bitcoin did, but more knowledgeable people are agreeing that CloudCoin™runs on a better and more secure technology platform than Bitcoin and any of the other blockchain-based cryptocurrencies do.

O = OPEN-SOURCE: Open-source is the opposite of what is called a “Permissioned System” and is important enough to cover here. There are a couple of points to consider when discussing “open-source.”

Permissioned Systems

“Permissioned Systems” are centralized systems that require a public ledger of some sort and are controlled by the powers running the system.

Permissioned systems restrict avenues of communication and freedom of communication. In computer terminology, open-source refers to Open-Source Software (OSS) which is a type of computer software in which source code is released under a license in which the copyright holder grants users the rights to study, change, and distribute the software to anyone and for any purpose other than creating malware. Open-source software may be developed in a collaborative public manner. Both the Blockchain and CloudCoin are open-source. The CloudCoin Consortium was set up to enable the world to use CloudCoins free of charge and have many developers who share their work with them.

In finance, permissioned systems are made up of powers that dictate what can and cannot be used as a medium of exchange, when and where you can use it, where you must use it, whether you can freely give it to others, whether or not you can take it out of the country, which channels (like banks) you must use, how much interest you are allowed to charge when making a loan versus how much a bank may charge, how much you can withdraw at any time, etc., etc. With permissioned systems, the list of what you must do and cannot do with money gets longer all the time.

In fact, right now when you deposit money in the bank, it is no longer legally yours.

Here’s an interesting quote by one of history’s most prominent bankers, which emphasizes the necessity of a free system:

https://i.redd.it/1l8zam3301u31.png

“I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets.

The man who controls Britain’s money supply controls the British Empire, and I control the British money supply.”

  • Nathan Mayer Rothschild

Attributed to European banker Mayer Amschel Rothschild. In 1815 Rothschild basically took over England’s banking system and formed “The Bank of England,” which was a privately-owned bank that would act as the banker to the Government. He and other bankers then went on to attempt the takeover of the American banking system.

The rise of cryptocurrency has been largely in response to Permissioned Financial Systems, which have been misused and have violated the trust placed in them and are now out of the control of the private citizen.

A true open source****financial systemdoes not dictate where, when, or how you can use your money and it’s private. It does not monitor or make recordings of how much you have or what you do with it.

Bitcoin and the Blockchain is pseudonymous, not anonymous.

https://reddit.com/link/dld6y0/video/1uxet7v921u31/player

CloudCoin and the RAIDA is anonymous.

I = Impenetrable: This means that it is robust to attack. Many of the existing blockchain based cybercoin systems have been broken into by hackers, and that includes the biggest and most well-known like Bitcoin and Ethereum. Hackers are thieves who steal information, identities, money from bank accounts, etc. Equifax, Yahoo, LinkedIn, JPMorgan, Home Depot, Sony, Chipotle, Wells Fargo, Capital One, and Hilton Hotels are a few of the well-known hacks.

Cryptocurrencies and Blockchain are not impenetrable.

CloudCoin and the RAIDA are considered the most impenetrable.

N = No Nonsense Governance: This means that the governing of the system must be fast and accurate. When your Visa or MasterCard is run, it only takes a few seconds for the merchant to get verification. It would be nonsense for a retail transaction to take 10 minutes or more. Bitcoin transaction time is too slow for retail use. 

When the merchant gets verification from Visa, etc., he is getting a guarantee that so long as there has not been any fraud (like a stolen card), that the money or credits will be sent to his account. It is not an instant transfer of funds, but a guarantee that the funds are there and that they will be paid. Actual payment generally takes a couple of days.

The TPS (Transaction Speed per Second) is very high with credit cards like VISA, making them viable at a checkout counter.

With CloudCoin, not only is the verification instantaneous, but the transfer of funds can be immediate as well.

https://i.redd.it/x87yhwe801u31.png

Another aspect of good governance must do with the cost of transaction. With something like Visa, it’s a few percent. With Bitcoin, running the transaction was as high as $41.62 in Jan 2018, and since Bitcoins often require multiple confirmations, the cost is now (July 2019) listed at about $1.70. These fees also apply to peer-to-peer transactions.

The transaction fees on Bitcoin also seem to depend on the volume of trading. The more trading going on, the more crowded the network is and the higher the transaction fee. There have even been instances during network traffic jams, when miners asked for surcharges in order for a user’s transactions to be placed in a “fast lane.” This is certainly not very workable in the everyday world if an increase in success equals an increase in volume which bogs things down and then increases transaction costs.

Bank transfers can be quite expensive and prohibitive especially for smaller transactions. International transactions are often difficult, time consuming, subject to restrictions and expensive.

With CloudCoin™ peer-to-peer transactions anywhere in the world can not only be instantaneous, but there are virtually no transaction fees on these direct exchanges.

N = Nimble: This one relates to the ability of the currency to respond to the changing economy and to its speed, which is measured in Transactions Per Second (TPS). An alternative currency must have speed that is at least comparable to VISA™ to be viable for everyday commerce. One of the reasons alternative cryptocurrencies have popped up is to attempt to solve slow transaction speeds which inhibit retail use. Unfortunately, solutions to one aspect of the blockchain usually sacrifice some other desirable element.

Next, if a currency becomes very popular and the price escalates greatly like Bitcoin has, each coin becomes unwieldly and hard to deal with. If a Bitcoin is valued at $11,000.00, what fraction of a Bitcoin are you going to need to pay for an $18.00 pizza? The fractions become very confusing and hard to deal with. This inhibits, not enhances, commerce.

CloudCoin™ deals in simple integers like $1.00, $5.00, $25.00, $100.00, $250.00, all of which are recognizable, understandable, and easy to deal with.

THE VERDICT

The Blockchain, meaning the platform upon which all the different cryptocurrencies depend, has value in many areas where a distributed ledger is needed or required; however, as a currency it falls very short.

As they now exist, none of the cryptocurrencies could possibly serve as a national, let alone an international, currency. They have too many built-in economic and ecological problems. All knowledgeable crypto enthusiasts recognize the problems and hope that someday there will be a solution for the blockchain’s shortcomings as a monetary platform, but its fundamental nature makes that unlikely.

However, I believe that once crypto enthusiasts get out of their protective, self-defense mode, their extraordinary intelligence and insight will discover ways that combine the benefits of blockchain when a ledger is useful, with the freedom and ease of use of CloudCoin™ as a currency. This has the potential to solve many problems for business and for the peoples of the world....

CloudCoinConsortium with Cristopher Davis.

RAIDAguardian



[Daily Discussion] Tuesday, October 22, 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] Tuesday, October 22, 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:


Beer, Blockchain and Derivatives Trades: A Hackathon Brings Bankers and Techies Together to Disrupt a Trillion-Dollar Market

The beer was flowing and the hubbub of conversation was beginning to rise at Barclays’ fintech hub in London’s trendy Shoreditch neighborhood last week. After a marathon competition, developers finally let their hair down.

For the previous 48 hours, the participants of DerivHack had been testing new digital tools. There was more than just pride on the line. The new technologies promise to cut billions from the cost of processing trades in the multi-trillion-dollar derivatives and securities markets.

For two days, in long sessions fueled by coffee and Coca-Cola, international teams of developers in London, New York and Singapore tested a new trading standard developed by the industry group, International Swaps and Derivatives Association (ISDA) that could transform the way the derivatives industry and other financial markets work.

Banks and developers say the new trading standard, coupled with distributed ledger technology, could bring big savings to the expensive business of processing trades.

A distributed ledger is a secure, decentralized database shared among different parties. Think of it as a bookkeeping method that instantly verifies that you’re getting precisely what you’ve agreed to. The best-known ledger technology is blockchain, which underpins the cryptocurrency bitcoin.

In recent years, there’s been considerable hype around deploying distributed ledger technology in the banking sector to speed up all manner of transactions that now take days to clear. The derivatives market is particularly ripe for disruption. Despite is size, it’s riddled with inefficiency. Participants have established myriad ways to process trades over the years, leading to redundant layers of processing and compounding reconciliation costs, which occur when the data shared between the buyer and seller doesn’t perfectly match up.

A billion dollar fix

The ISDA’s fix to this problem is called Common Domain Model (CDM), a distributed ledger technology that it’s rolled out in stages over the past year that promises to automate the processing of derivatives trades. Deloitte reckons a blockchain-derived tool such as this could cut dealers’ costs of roughly $3.2 billion by 80-85%.

“The total opportunity becomes much larger when considering the inclusion of other market participants outside the dealer community, benefits to regulators, improvements in funding, and balance sheet optimization,” Deloitte said in a recent report.

But if CDM is ever to become a trusted trading standard, the geeks first have to put it through its paces.

That’s why Barclays sponsored the hackathon, now in its second year. To get away from the suits in the Square Mile, it held the event where the coders and engineers could be found during the day—its Rise building in Shoreditch, which houses dozens of finch start-ups.

Making sense of credit default swaps

The market value of over-the-counter derivatives has fallen since the financial crisis of 2007-09. That’s when one type of derivative, credit default swaps, dominated before the market imploded under the weight of a cascade of defaults. But the gross market value of OTC derivatives still stood at a staggering $9.7 trillion at the end of 2018, down from a peak of $35 trillion in 2008, according to the Bank for International Settlements.

The Common Domain Model was developed by ISDA in an effort to harmonize a patchwork of different conventions used to represent derivatives trades and processes, and bring them in line with the latest regulation. Another plus: it can automate error-prone manual processes.

At its “derivatives hackathon”, Barclays gave teams of IT developers trading scenarios that required them to use ISDA’s CDM standard; the teams chose the technology platform—whether a centralized database or a distributed ledger platform.

The scenarios allowed the teams to model post-trade processing of derivatives contracts to show how efficiencies could be achieved by using the CDM standard.

Barclays hosted a similar event last year in New York and London. This year, DerivHack was extended to Singapore and the product scope broadened to include securities. Fifteen teams took part in London, 19 in New York and 8 in Singapore, including a team from Russia. In addition to Barclays, participating banks included JP Morgan, Goldman Sachs, HSBC, UBS, Bank of America and NatWest.

Ian Sloyan, ISDA’s director for market infrastructure and technology, said ISDA was seeing a lot of interest in the new standard.

“We are seeing some real-life projects now talking about implementing the ISDA CDM, which is happening at pace. In the next year, I think we are going to see some big implementation projects that will demonstrate how important the ISDA CDM is going to be to the market,” he told Fortune.

Lee Braine, Barclays’ director of research and engineering, said that, a year ago, the purpose of the hackathon was to get a sense from the industry of whether the CDM made sense, and was usable.

“We’re past that. The answer was yes. So now the challenge is: how do you drive adoption?” he said, adding the interest is strong from banks and fintechs alike.

Sunil Challa, director, Business Architect, Barclays Strategy, said one big development since last year was that ISDA had made CDM open source, meaning any developer could work with the model, regardless of whether they were experts in financial services.

“Within the blockchain/distributed ledger technology platforms, three out of the four major platforms have essentially taken this standard and mapped it, and extended it on their platforms,” he said.

The winner of the London leg of DerivHack was Finteum, a startup that is building a platform for banks to borrow and lend to each other for hours at a time instead of overnight. Co-founder Brian Nolan found it relatively easy for Finteum, as a new trading platform, to integrate CDM into its platform. He said CDM showed promise as a standard.

“Absolutely, not just derivatives, but here as you’ve seen in the securities industry, I think there is growing momentum behind it. I think today’s event proves that,” he told Fortune.

More must-read stories from Fortune:

Tariffs on this beloved Italian cheese are now in effect and the markets are grumbling

—These comments cost Ken Fisher’s fund a [$600 million investment

](https://fortune.com/2019/10/14/ken-fisher-fund-lost-investment-comments/) —What Warren Buffett’s move to increase his Bank of America stake says about [the health of the economy

](https://fortune.com/2019/10/16/bank-of-america-warren-buffett-economy/) —How would you spend a universal basic income? We asked participants around the world—and their answers might surprise you

—Scotch on the rocks—how Trump’s trade tariffs could harm a favorite nightcap

Don’t miss the dailyTerm Sheet, Fortune’s newsletter on deals and dealmakers.

* More Details Here


what is Diagon

#bitcoin #blockchain #ethereum #Ico #ieo

What is Diagon

Diagon is an upcoming decentralized eSports ecosystem that will enable people from all around the globe to test their expertise and contest in 1v1 and group versus group matches for prominent online-based games, such as Destiny 2, League of Legends, Dota 2, Fortnite etc.

Every strong economy is powered by a stable currency that gives it stability and value in the exchange market and ours is DIAGON COIN. The sole virtual currency that will be used to perform every form of transaction on our innovative ecosystem - Diagon. With Diagon Coin, investors will be able to perform all transactions across all our platforms, which will include: gaming, trading and making virtual and real purchases. Diagon Coin will also offer investors a unique edge with its value to trade against other cryptos.

keep in mind that our token sale is #live you can be a partaker of the event https://ico.diagon.io/


And by the way, be sure to subscribe to telegram and Twitter . It is necessary to always be course events which the team shares with us every day. More detailed #SwapZilla #ico #crypto #bitcoin #ethereum #blockchain #btc #SwapZilla

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Sneaky Miners

Hi,

I built a PC a few months ago. My motherboard has a tiny display on it which displays CPU temperature on it. Last month I saw that the temps were high like I was playing a game but it was actually on idle. When I opened Task Manager the temps went down immediately and eventually figured out this must be a miner. I downloaded malwarebytes and instantly it caught a bitcoin miner (according to quarantine it was either of these 3: RiskWare.BitcoinMiner.COMSPECRST or Trojan.BitCoinMiner.BatBitRst or Trojan.BitCoinStealer.BatBitRst). After which the problem went away and temps were predictable and stable.

Now again the temps are high when left alone for a few minutes and immediately go down when I touch the mouse. Little do they know I have a hardwired temperature monitor which is effectively an activity level meter lol. Malwarebytes(updated) says there's nothing but I am still suspicious. I have followed the suggested reading Official Malware Removal Guide alone with HitmanPro. HitmanPro got about a hundred tracking cookies but that's it.

Has anyone had problems like these before? Thank you.



Clarification on investment losses on taxes

So in 2018 I purchased a small bit of crypto currency monthly. The routine was purchase Bitcoin with USD then convert the Bitcoin into one specific altcoin in the same day. I've been holding this altcoin ever since. As you can imagine, I am down a fair bit (60%) on the total amount invested.

So my questions:

1) I understand that crypto to crypto trades are taxable events, but I did not report the trades from Bitcoin to this altcoin. Since they were done on the same day, I do not imagine there being a significant taxable event for each trade. Could this be reported in the coming tax year?

2) I'd like to claim a loss on this investment. Is my thinking here correct: I convert it all to Bitcoin, which triggers a taxable event, hold the Bitcoin for at least 30 days then use it to buyback the altcoin to avoid wash trading. Would I be able to claim the loss on my taxes using this method?

Thanks


The entire purpose of a Self Managed Investment (SMI) like Bitcoin

The entire purpose of a Self Managed Investment (SMI) like Bitcoin Enhanced is that the value is generated and held by token holders. This creates independence from the fiat system so that like gold or property, the value of the asset is not lost in the event of systemic market failure.

However, unlike investing in a derivative such an a hedge fund or ETF, where liquidity is present from the outset due to the underlying asset, the liquidity of an SMI depends upon the adoption of the asset. This takes time and like Venture Capital firms, early investors need to consider a medium to long term horizon until liquidity builds. SMIs are also similar to VC investments in that diversification, i.e. holding many SMIs, mitigates the risk of the failure of any specific investment.

https://bitcoinenhanced.io/


18 milionth coin mined in bitcoin blockchain

On October 19, 2019 miners mined the 18 milionth BTC coin. It took a little over one and a half years to mine another million of bitcoins. The 17-millionth coin was mined on April, 26, 2018.

Today 85,72% of all mined bitcoins are in circulation. According to algorithm made by Satoshi Nakamoto, the last, 21 millionth coin will be mined in 2140.

The next landmark event in the bitcoin network will take place in 205 days – on May 18, 2020. This day halving of the reward for each mined bitcoin block will take place – from 12,5 BTC to 6,25 BTC.

Many crypto industry experts think that halving will become a catalyst for the explosive growth of Bitcoin to the level of $ 60,000. However there are those who think that nothing of a kind will take place. Jihan Wu, Bitmain’s CEO, is among sceptics. He thinks the price of the main cryptocurrency may both surge and collapse. Halving will hardly likely influence the price change.

https://i.redd.it/h0gxp8yo2xt31.jpg


A brief history of Bitcoin events

https://twitter.com/thetokenanalyst/status/1186310909611925505

how can i bounce back after everything that happened to me? feels like all doors have been closed and none are opening

i've posted this story plenty of times but i'll go about it again.

i didn't go to college, i didn't go want to take the normal route. i fell in love with playing poker or felt that i had always wanted to play professionally since i was about 15-16. i dropped out of college because i had no idea what i wanted to do and just worked a shitty job until i got good enough at poker to give it a go.

i moved overseas to play online and while in the beginning i faced a lot of hardships, i ended up prevailing. i quit playing poker 2-3 years ago when i had my biggest winning year to focus on day trading. i had roughly 6 digits liquid cash on hand at this point in my life around 23-24.

so around when bitcoin started exploded i had played a lot of cards right and eventually ended up making around 2-3 million dollars day trading crypto. i got cocky, i built up a huge ego, i felt like the world was in my hand and i could finally do what i wanted to do.

right before 2017 had ended i had made a lot of bad trades and i wiped out almost 75 percent of my funds.. i continued to keep trading. i kept trying, yet i knew deep down in my heart the market changed from under us. any time i post this story i get people letting me know that my story is fairly similar, i'm not blaming big banks or ai or anything because at the end of the day it was me who pulled the trigger but their inevitable showing ended most manual traders from the market.

so now it's 2019, i'm completely broke, no job, i'm living in a country where i don't speak the language with my family. i don't want to play poker either since i closed that chapter in my life a long time ago and i just don't want to do it anymore. i don't think i'll ever trade again either since it just ended up being a disaster for me. i'm also in around 7-8k in debt and i'm not even sure what to do about that since i don't live or haven't lived in america for years.

i just feel lost, empty and confused. have you ever felt that you knew exactly what you wanted to do in life and then you did it but that wasn't really quit the answer you were looking for? i'm not only a bit bitter about what i did to myself i'm also just fucking jaded about relationships in general. friends, girlfriends, i feel like i can't open up to anyone since any time i do i get hurt. it's almost like i figured out how to function living alone and i don't really mind it anymore. there's a difference between being alone and lonely, i don't feel lonely. if anything i'm more focused on what i need to do i just don't fucking know. i'm 26 and i feel like i should have done something by now at this point in my life.

it really feels like the halfway point of an RPG where you did the mainline now you can go do sidequests but you don't know what to do and where to go so you look up a guide. except there isn't any guide for life.

i don't want to be bitter, i don't want to be jaded, it's just fucking hard after everything i've been through. ironically the money never made me happy anyway and it was most likely why i had to lose it all in some spiritual sense because it came from a place of emptiness and my life didn't want that anymore.

anyway sorry for the rambling, if anyone has any ideas on how to push forward that would really help. i also don't think school is a good idea either since i feel like if i put my mind to anything i can accomplish way more within 4 years than school + debt could give me at this point in my life



Daily analysis of cryptocurrencies 20191021(Market index 37 — Fear state)

https://i.redd.it/fvnsi6vuvvt31.jpg

Huawei Filed Patent Application For Blockchain-Based Settlement
Citing information from Tian Yan Cha, a tool for commercial surveys, Huawei has filed a patent application for blockchain-based settlement. Per the application form, the patent can be used to verify the original data sent from the client end and settle the generation process from data to bills.

Korean Firms To Launch Trial Version Of All-In-One ID Verification App By End Of 2019
South Korean mobile carriers, smartphone makers, and financial firms, including Samsung Electronics, Hyundai Card, Shinhan Bank, etc. have joined hands to launch a decentralized ID service, named Initial, on a trial basis this year. The new service will essentially verify an individual’s identity without tangible documents like graduation or employment certificates, and enable taking out loans or applying for jobs, through a single mobile App.
This is the second endeavor to launch a mobile identity verification system using blockchain technologies, after a similar effort by the Korea Financial Telecommunications & Clearings Institute.

China’s State Council To Strengthen Blockchain-Powered Regulation On Bills, Entertainment, And Healthcare
China’s State Council addressed the need for stricter regulation on sectors of bills, entertainment, and healthcare in the Enhanced Regulation Guidance published recently, which points out the benefits and importance of leveraging nascent technologies, such as blockchain, big data, IoT, cloud computing, AI, etc. The Guidance explains that technologies like blockchain can reduce regulatory costs, minimize interference, and maximum effects of regulation. According to the State Council, blockchain, as a critical technology, is a natural fit for the regulatory frameworks, it can facilitate with the integration of regulatory infrastructures, offer reliable and timely transaction status, and improve information transparency.

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.
Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains.
Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.
Kuverit (KUV) : IDAX will list #Kuverit (KUV) and open trading for KUV/BTC trading pair. is going to be listed on 21 Oct, at 10:00 am (UTC+8).
VRD/VRD Chain: VRD Chain (VRD) WBF Exchange will launch VRD/ETH trading pairs in the open area on October 21st at 10:00.
MKR/Maker: MakerDAO (MKR) WBF Exchange will launch the MKR/USDT trading pair in the open area on October 21st at 16:00.
H56/H56 Token: H56 Token (H56) OEx International Station will be launched on October 21st at 14:30.
NAUC/Nautical Coin: The Nautical Coin (NAUC) BiKi platform will open NAUC recharge and withdrawal at 14:00 on October 21, and open the NAUC/USDT transaction pair at 14:00 on October 24th.
Celer Network (CELR): 21 October 2019 AMA “Come and join our AMA on Monday, OCT 21 at 7PM(PST).”
Ankr (ANKR) : 21 October 2019 Moscow Meetup “This Monday, Oct 21, we are co-hosting a meetup with @Binance in Moscow!”
Ethereum Classic (ETC): 21 October 2019 AMA @ETCCooperative Executive Director @BobSummerwill will participate in an AMA held by @GuardaWallet
Nebulas (NAS): 21 October 2019 Community Fund Vote “The time has come for the community to decide what to do with the remaining community fund containing 34 million $NAS.”
Hype Token (HYPE): 21 October 2019 Limited HYPE NFT Badges Level 5 & 6 NFT Badges has been released. As part of HYPE Token’s community rewards program, you can collect super rare NFT badges!
IOST (IOST): 21 October 2019 Weekly Summary “Here’s a quick summary of the week of 14th Oct 2019 by @iostWatch

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Locus Chain (LOCUS): 22 October 2019 Public Test Begins Public test runs for three days from October 22nd to October 24th.
IOTA (MIOTA): 22 October 2019 EclipseCon Europe Next week, join Lewis Freiberg, our Director of Ecosystem, to learn how to build an ecosystem around IoT focused distributed ledgers.
TRON (TRX): 22 October 2019 TRC20-USDT Bonanza “… @Huobiglobal . Deposit #TRC20- #USDT, enjoy APR up to 30%, starting from 00:00, Oct, 22 to 00:00, Nov, 1, 2019(SGT).”
PCHAIN (PI): 22 October 2019 Ama with Founder & CEO “Jeff Cao PCHAIN founder & CEO, will host an AMA on 22nd Oct at 11:00 PM (UTC+8) in the @Binance_DEX Telegram.”
iExec RLC (RLC): 22 October 2019 AMA “Tuesday 22 October 2019. You can ask the team anything you want until Thursday 17 October.”

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”
BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.
Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers
CloakCoin (CLOAK): 23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.”
Loom Network (LOOM): 23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST).
BTGS/Bitdog: ZG.COM will open the BTGS currency and coin transfer business at 14:00 on October 23, and open the BTGS/USDT transaction pair on October 23 at 18:18.
Waltonchain (WTC): 23 October 2019 Transfers Suspended “$WTC deposits and withdrawals on #TaibiExchange will be suspended from 00:00 Oct 22 (UTC+8) and are estimated to resume at 15:00 Oct 23

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Horizen (ZEN): 24 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
ANT/Aragon: Aragon (ANT) Aragon Network will hold the theme “DAO: ICO and DeFi next step” in Hong Kong on October 24th?
DATA/Streamr DATAcoin: Streamr DATAcoin (DATA) Streamr Network Technology Exchange and Project Development Conference will be held in London on October 24th.
Lisk (LSK): 24 October 2019 Coding Workshop — Berlin “During this workshop you will acquire the skills to create custom transactions with the Lisk Alpha SDK using Node.js.”
BTU Protocol (BTU): 24 October 2019 Africa IT Expo “Our co-founder @vidal007 will be speaking at upcoming @africa_aitex [African IT Expo] held in #Rabat #Morocco on 24th of October.”
Matrix AI Network (MAN): 24 October 2019 YouTube AMA YouTube AMA from 3PM, October 24 (GMT+8).
Utrum (OOT): 24 October 2019 AtomicDex Listing “We are pleased to announce that Utrum coin OOT is getting listed on Komodo Platform Decentral Exchange — AtomicDEX. “

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Crypto.com Coin (CRO): 25 October 2019 Live AMA with CEO “Live AMA with our CEO @Kris_HK on @cryptocom’s Twitter next Friday, 25 October, 11AM HKT.”
GST/GSTCOIN: GSTCOIN(GST)LBank will be online GST on October 25, 2019 at 16:00 (UTC+8), open trading pair: GST/USDT, GST/ETH.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.
BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Horizen (ZEN): 26 October 2019 (or earlier) ZEN 2.0.19 Upgrade Zen 2.0.19 upgrade at block #610000, which is expected around October 26.

Encrypted project calendar(October 27, 2019)

ICON (ICX): 27 October 2019 Money 20/20 USA Event Money 20/20 USA in Las Vegas from October 27–30.

Encrypted project calendar(October 28, 2019)

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

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.”
Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019.
Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.”

Encrypted project calendar(October 30, 2019)

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

Encrypted project calendar(October 31, 2019)

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

Encrypted project calendar(November 1, 2019)

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

Encrypted project calendar(November 2, 2019)

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

Encrypted project calendar(November 4, 2019)

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

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.”
NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019.

Encrypted project calendar(November 6, 2019)

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

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore.

Encrypted project calendar(November 8, 2019)

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

Encrypted project calendar(November 9, 2019)

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

https://i.redd.it/25yzdn8yvvt31.png

This past week, we saw mostly bearish moves in bitcoin below the $8,200 support area against the US Dollar. BTC price even settled below $8,000 and the 100 hourly simple moving average. However, the $7,800 area acted as a strong support. As a result, BTC started a decent recovery above the $8,000 resistance area and the 100 hourly SMA. Moreover, there was a break above a contracting triangle with resistance near $8,000 on the hourly chart.

More importantly, the price surpassed the main $8,200 resistance area (as discussed in the weekly forecast). Finally, the price traded above the $8,250 level and tested the $8,300 zone. A high was formed near $8,305 and the price is currently consolidating gains. An immediate support is near the $8,200 level or the 23.6% Fib retracement level of the recent recovery from the $7,884 low to $8,305 high.

Additionally, there is a short term breakout or bullish continuation pattern forming with resistance near $8,250 on the same chart. If there is an upside break above $8,250, bitcoin price could continue to rise towards the $8,300 and $8,350 resistance levels. The next key resistance on the upside is near the $8,400 level.

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Bitmain CEO downplays Bitcoin halving event in 2020, but others disagree

https://www.asktraders.com/news/bitmain-ceo-downplays-bitcoin-halving-event-in-2020-but-others-disagree/

Cross chain compatible wallet for BTC scaling (brainstorming)

When it comes to pure monetary function, bitcoin is king. In terms of transaction speed and fees, EOS wins hands down. I'm having an idea for a hybrid BTC/EOS wallet that runs on both blockchains and may be a better solution than either lightning network on bitcoin, or a bitcoin IOU token on EOS. It would work as follows:

  1. EOS uses the same version, checksum, and encoding scheme as the Bitcoin WIF addresses and should be compatible with existing libraries. Here is an example of a WIF private key: "5KHpJyHDxfajzE2jjKxcMdJq9dPaAs44iMDY4Q93KcW9tkpJ3PL". That particular key corresponds to EOS public key "EOS7Pby6fVU78GFEDahsGxVth3Pvu4x6KAzZCUVBnmeq83C6XvsHZ", but it also corresponds to bitcoin address "1FWYxLio6AEuxq7FFfnFu4uFWNRrdALTeP".

  2. The user maps that EOS public key as the active permission to an EOS account, and send funds to that bitcoin address on the BTC blockchain.

  3. The user imports that single private key into the hybrid wallet, which is built to work on both blockchains and gives access to the bitcoin wallet and the EOS account simultaneously.

  4. The hybrid wallet has an integrated DEX (it could be any DEX, it does not need to be proprietary, although it may) enabled by a smart contract that instantly swaps BTC to a relatively stable EOS based token (we'll call it BTC2) cross chain.

  5. When the user wants to spend their bitcoin on the EOS network, they specify the amount to be sent (staying within the actual amount in their bitcoin blockchain wallet), and the DEX prepares tokens of the same value to be sent for the transaction in exchange for the actual bitcoin.

  6. The user then signs the transaction with the private key and broadcasts it to both networks at the same time. The bitcoin is sent to the DEX and the BTC2 is sent to the recipient on the EOS chain.

  7. To prevent double spending by the user via RBF (replace by fee), the smart contract may have a small reserve of bitcoin specifically for the purpose of continously "outbidding" malicious RBF actors with higher fees of its own until the transaction is confirmed in order to keep the money. The smart contract may also be programmed not to serve that private key ever again if such an event is detected.

  8. The hybrid wallet would not even need to be used for this, it could simply be used to onboard bitcoin users to EOS. The bitcoin user imports their private key, and the wallet generates an EOS public key from it and spends a small amount from the bitcoin wallet to create a new EOS account for the user.


Localbitcoins clone

Global distributed (P2P) crypto tradeLocalBitcoins Clone will before long become directed by the Financial Supervisory Authority of Finland, as the firm declared on its blog on March 25.

Helsinki-based LocalBitcoins Clone composed that the Finnish Parliament endorsed new enactment that will give a lawful status to digital money resources on March 13, 2019.

The authority has passed a proposition for another Act on Virtual Currency Service Providers that is relied upon to come into power in November 2019.

The parliament likewise decided in favor of a change to the Act on Detecting and Preventing Money Laundering and Terrorist Financing that will bring all crypto-related administrations, for example, wallet suppliers and trades under Anti-Money Laundering (AML) laws.

As indicated by LocalBitcoins, the reception of the demonstrations will add to open acknowledgment of crypto by exhibiting significant digital currency Bitcoin (BTC) as a reasonable and genuine money related system.

Alongside the administrative declaration, LocalBitcoins likewise expressed that it is creating apparatuses to build consistence with controllers.

On March 18,LocalBitcoins Clone propelled another record enrollment process, and is presently taking a shot at an increasingly proficient and safe character check procedure. The organization noticed that corporate records will experience a different check process.

Already, Cointelegraph announced that a crypto trade and wallet administration in Finland was encountering issues with neighborhood banks that wouldn’t work with crypto-related organizations. In particular, Prasos stage turned into a subject of worries among the banks, with in any event four banks declining to manage the substance.

Not long ago, Cointelegraph likewise investigated a hack assault that prompted a phishing LocalBitcoins clone site connection being posted on the authority LocalBitcoins discussion. Thus, the supposed aggressors purportedly figured out how to take around $28,000 worth of Bitcoin at the hour of the report.


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[uncensored-r/BitcoinMarkets] [Daily Discussion] Monday, October 21, 2019

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