Cardano Daily Discussion - May 29, 2023

Hello everyone,

Welcome to the Cardano Daily Discussion!

The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be sure to get involved in Project Catalyst too!

If you're new, please make sure you're read through the newbies guide and share it with others (use the ?newbies comment command to reference it).

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⚠️ Scam Warning ⚠️

Please read the Cybersecurity guidelines for Cardano Users.

There are ongoing giveaway scams on youtube and many scammers lurking in Cardano's social channels impersonating ambassadors/moderators/official staff contacting users via direct messages.

For example, searching 'cardano' on youtube and sorting by most recent upload date shows several giveaway scams running (all videos in screenshot are scams):

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Ongoing 'giveaway' scams on Youtube

The youtube scams are automated; use stolen footage usually of Charles Hoskinson and are restreamed so to appear to be 'live'; appear to have many watchers (which are bots); use bought hacked channels and are edited to appear like official channels.

See this post for more examples of what they look like

Do not be fooled!

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To be clear:

• ⚠️ There is no such thing as a Cardano giveaway
• ⚠️ Never share your seed phrase with ANYONE
• ⚠️ Never send ADA to someone promising to send you more ADA back
• ⚠️ You will never be contacted by ambassadors/moderators/staff

Please report scams on the Cardano Fraud Detection Bureau.

⚠️ Scam Warning ⚠️

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https://preview.redd.it/60ofludzpq8a1.png?width=284&format=png&auto=webp&v=enabled&s=7d58fc8aaa2eb5f125624608b97bdd7b943a1111

Midnight Subreddit

In anticipation of Input Output's new data protection blockchain 'Midnight', I've managed to acquire r/Midnight through some negotiation and repurpose it for the Cardano Community (the sub was created for a card game back in 2011 but was mostly unused).

I decided to do this as I thought the project will eventually need a home on reddit and best to setup now before any scammers do. Obviously there's not much to post about on there right now as it's early days as the project is yet to be released, but if you'd like to be kept up to date on the project please feel free to join the new subreddit if the project interests you and I'll be sure to post updates as and when they become available.

Right now the sub is mostly a carbon copy of r/cardano, I've copied most of the automod and rules over, so certain aspects may seem a little incongruent atm, but I'll tailor and tweak the sub as we go. Feel free to send me or post any input if you want stuff to change.

Cheers all

Unspecified operation for type undefined for add

2023-05-28 13:58:16 [Pool]  [bitcoin] (Thread 2) Share processing setup with redis (127.0.0.1:6379)
/home/dev/nomp/node_modules/bignum/index.js:97
      throw new TypeError('Unspecified operation for type ' +
      ^

TypeError: Unspecified operation for type undefined for add
    at BigNum.<computed> [as add] (/home/dev/nomp/node_modules/bignum/index.js:97:13)
    at Object.decode (/home/dev/nomp/node_modules/base58-native/base58.js:49:23)
    at exports.addressToScript (/home/dev/nomp/node_modules/stratum-pool/lib/util.js:266:26)
    at /home/dev/nomp/node_modules/stratum-pool/lib/pool.js:426:37
    at /home/dev/nomp/node_modules/stratum-pool/lib/pool.js:428:15
    at /home/dev/nomp/node_modules/stratum-pool/lib/daemon.js:134:13
    at parseJson (/home/dev/nomp/node_modules/stratum-pool/lib/daemon.js:85:17)
    at IncomingMessage.<anonymous> (/home/dev/nomp/node_modules/stratum-pool/lib/daemon.js:95:17)
    at IncomingMessage.emit (node:events:525:35)
    at endReadableNT (node:internal/streams/readable:1359:12)

Node.js v18.16.0
2023-05-28 13:58:16 [Master]    [PoolSpawner] Fork 1 died, spawning replacement worker...
^C
dev@dev

It's all the weekend I am trying to make it work... as local Bitcoin pool only, any idea how it can be solved? Thank you

P.S. I tried to open an issue but the github form for the repo is stuck.

What is a vanity cryptocurrency wallet address and what are the benefits of using it?

A vanity cryptocurrency wallet address is a custom cryptocurrency address that is created specifically to include certain desired letters and numbers. Rather than a randomly generated string, Vanity Hearts addresses allow users to have a more personalized and recognizable wallet address. Let's start by sharing a website that enables this feature, it enables TRX and ETH wallet address customization add whatever you want to your own wallet address.

https://www.customaddress.org/eth_en/

https://www.customaddress.org/trx_en/

The benefits of using a vanity cryptocurrency wallet address include

Personalization: Vanity addresses allow users to incorporate their name, brand, or any other desired text into their wallet address. This can make it easier for others to identify and remember their address.

Let's say an individual named John wants to create a Bitcoin wallet address that includes his name. Instead of a randomly generated address like "1Bn6hd7Ks94G2aWfWj8P3zXr...", John can create a vanity address like "1JohnSmith...". This personalization allows John to have a wallet address that is associated with his name, making it easier for friends, family, or business contacts to identify his wallet.

Branding: For businesses or individuals looking to promote their brand or program, a vanity address can help create a more professional and recognizable image. It can be used to receive payments or donations, making it easier for supporters to identify the wallet associated with the brand.

For example,A company called XYZ Corp. wants to create a vanity Ethereum wallet address for receiving payments related to their blockchain project. They can create a vanity address like "0xXYZCorp..." or "0xXYZProject...". By incorporating their brand name or project title into the wallet address, XYZ Corp. can strengthen their brand identity and make it easier for users and supporters to recognize and trust the address associated with their project.

Please give some examples after the 5 paragraphs of the strengths section. You can be more detailed

Ease of remembering: Vanity addresses can be designed to include memorable graphics or text, making it easier for users to remember and share their wallet address with others. This may be particularly useful for individuals who receive frequent cryptocurrency payments.

Consider an artist named Lisa who frequently receives cryptocurrency payments for her artwork. Instead of a random Ethereum address like "0x7AdE324cB23...," Lisa creates a vanity address like "0xArtByLisa...". This address is easier for Lisa to remember, and she can confidently share it with her clients, making it more convenient for them to send payments for her artwork.

Marketing and Promotion: Reputation addresses can be used as a marketing tool, especially during cryptocurrency-related events or promotions. They can help generate interest and draw attention to a project or cause.

For example,A charitable organization called Green Earth Foundation is running a fundraising campaign for environmental conservation. To promote the campaign, they create a vanity Bitcoin Cash address like "1SaveThePlanet...". They use this address in their promotional materials, social media campaigns, and events. The vanity address serves as a marketing tool, capturing attention and reinforcing their cause, making it more likely for people to donate to their campaign.

Aesthetics: Some users simply like to have a visually appealing wallet address. A vanity address can be designed to include specific characters or patterns that are visually pleasing.Some users simply prefer having visually appealing wallet addresses.

For example, a cryptocurrency enthusiast may create a vanity Litecoin address like "LTCMoonShot...". By incorporating the word "MoonShot," which represents high potential or exponential growth, the user can have an aesthetically pleasing address that reflects their optimism and enthusiasm for the cryptocurrency's future.

It is worth noting that while vanity addresses offer these benefits, the security of a cryptocurrency wallet depends heavily on the underlying cryptographic algorithm and the appropriate security practices employed by the user. Therefore, whenever possible, use sites that have been proven to work for these features.https://www.customaddress.org/eth_en/

Litecoin halving - what it is and what it means for investors

Need insights about Litecoin halving this year?

This article could shed some light.

LTC is scheduled for network reward halving some time in early August, 2023 (this year). Bitcoin will do the same early next year (2024).

I figured a lot of people may not be in the know.

Let's keep up with the markets.

Cheers

1 btc

I juz saw there post on Twitter, wew 1 btc grandprize. One of the Online Casual Casino i played so far, and i already earn usdc for free.

https://massivegaming.club/Twitter_Reddit1
https://massivegaming.club/1BTC_reddit

https://preview.redd.it/49uu22t5fk2b1.png?width=358&format=png&auto=webp&v=enabled&s=26f0bb47e5109f2c648a6381eaf07a259b983a8d

Is bitcoin halving cause a bitcoin price bubble? Is that why price go up?

I see many people talk about the bitcoin price will surge when the bitcoin halving happens in 2024. Their stories usually emphasize the past experiences. (only 3, not very convincing evidence). But I want to understand why the price is expected to go up.

After the halving event, miners will be rewarded with less bitcoins. The quantity of Bitcoin continues to increase at a slower rate (6.25 -> 3.125 BTC) every 10 min. If the demand of Bitcoin stays constant, the price of Bitcoin decreases at slower rate, rather than increases.

In the graph below, the supply of bitcoin is vertical (inelastic) because we have no control over the quantity of bitcoin (it is programmed). After halving the width between the supply curves become narrower. Therefore price goes down less.

I can only think the demand increased past halving events (because of news), and that created bubbles. Am I wrong?

Thanks.

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https://preview.redd.it/3sip4d5xii2b1.png?width=555&format=png&auto=webp&v=enabled&s=f5bc8b3629639d716eaa11d20b553dc27190bd79