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FlowCards: A Declarative Framework for Development of Ergo dApps

FlowCards: A Declarative Framework for Development of Ergo dApps
Introduction
ErgoScript is the smart contract language used by the Ergo blockchain. While it has concise syntax adopted from Scala/Kotlin, it still may seem confusing at first because conceptually ErgoScript is quite different compared to conventional languages which we all know and love. This is because Ergo is a UTXO based blockchain, whereas smart contracts are traditionally associated with account based systems like Ethereum. However, Ergo's transaction model has many advantages over the account based model and with the right approach it can even be significantly easier to develop Ergo contracts than to write and debug Solidity code.
Below we will cover the key aspects of the Ergo contract model which makes it different:
Paradigm
The account model of Ethereum is imperative. This means that the typical task of sending coins from Alice to Bob requires changing the balances in storage as a series of operations. Ergo's UTXO based programming model on the other hand is declarative. ErgoScript contracts specify conditions for a transaction to be accepted by the blockchain (not changes to be made in the storage state as result of the contract execution).
Scalability
In the account model of Ethereum both storage changes and validity checks are performed on-chain during code execution. In contrast, Ergo transactions are created off-chain and only validation checks are performed on-chain thus reducing the amount of operations performed by every node on the network. In addition, due to immutability of the transaction graph, various optimization strategies are possible to improve throughput of transactions per second in the network. Light verifying nodes are also possible thus further facilitating scalability and accessibility of the network.
Shared state
The account-based model is reliant on shared mutable state which is known to lead to complex semantics (and subtle million dollar bugs) in the context of concurrent/ distributed computation. Ergo's model is based on an immutable graph of transactions. This approach, inherited from Bitcoin, plays well with the concurrent and distributed nature of blockchains and facilitates light trustless clients.
Expressive Power
Ethereum advocated execution of a turing-complete language on the blockchain. It theoretically promised unlimited potential, however in practice severe limitations came to light from excessive blockchain bloat, subtle multi-million dollar bugs, gas costs which limit contract complexity, and other such problems. Ergo on the flip side extends UTXO to enable turing-completeness while limiting the complexity of the ErgoScript language itself. The same expressive power is achieved in a different and more semantically sound way.
With the all of the above points, it should be clear that there are a lot of benefits to the model Ergo is using. In the rest of this article I will introduce you to the concept of FlowCards - a dApp developer component which allows for designing complex Ergo contracts in a declarative and visual way.
From Imperative to Declarative
In the imperative programming model of Ethereum a transaction is a sequence of operations executed by the Ethereum VM. The following Solidity function implements a transfer of tokens from sender to receiver . The transaction starts when sender calls this function on an instance of a contract and ends when the function returns.
// Sends an amount of existing coins from any caller to an address function send(address receiver, uint amount) public { require(amount <= balances[msg.sender], "Insufficient balance."); balances[msg.sender] -= amount; balances[receiver] += amount; emit Sent(msg.sender, receiver, amount); } 
The function first checks the pre-conditions, then updates the storage (i.e. balances) and finally publishes the post-condition as the Sent event. The gas which is consumed by the transaction is sent to the miner as a reward for executing this transaction.
Unlike Ethereum, a transaction in Ergo is a data structure holding a list of input coins which it spends and a list of output coins which it creates preserving the total balances of ERGs and tokens (in which Ergo is similar to Bitcoin).
Turning back to the example above, since Ergo natively supports tokens, therefore for this specific example of sending tokens we don't need to write any code in ErgoScript. Instead we need to create the ‘send’ transaction shown in the following figure, which describes the same token transfer but declaratively.
https://preview.redd.it/id5kjdgn9tv41.png?width=1348&format=png&auto=webp&s=31b937d7ad0af4afe94f4d023e8c90c97c8aed2e
The picture visually describes the following steps, which the network user needs to perform:
  1. Select unspent sender's boxes, containing in total tB >= amount of tokens and B >= txFee + minErg ERGs.
  2. Create an output target box which is protected by the receiver public key with minErg ERGs and amount of T tokens.
  3. Create one fee output protected by the minerFee contract with txFee ERGs.
  4. Create one change output protected by the sender public key, containing B - minErg - txFee ERGs and tB - amount of T tokens.
  5. Create a new transaction, sign it using the sender's secret key and send to the Ergo network.
What is important to understand here is that all of these steps are preformed off-chain (for example using Appkit Transaction API) by the user's application. Ergo network nodes don't need to repeat this transaction creation process, they only need to validate the already formed transaction. ErgoScript contracts are stored in the inputs of the transaction and check spending conditions. The node executes the contracts on-chain when the transaction is validated. The transaction is valid if all of the conditions are satisfied.
Thus, in Ethereum when we “send amount from sender to recipient” we are literally editing balances and updating the storage with a concrete set of commands. This happens on-chain and thus a new transaction is also created on-chain as the result of this process.
In Ergo (as in Bitcoin) transactions are created off-chain and the network nodes only verify them. The effects of the transaction on the blockchain state is that input coins (or Boxes in Ergo's parlance) are removed and output boxes are added to the UTXO set.
In the example above we don't use an ErgoScript contract but instead assume a signature check is used as the spending pre-condition. However in more complex application scenarios we of course need to use ErgoScript which is what we are going to discuss next.
From Changing State to Checking Context
In the send function example we first checked the pre-condition (require(amount <= balances[msg.sender],...) ) and then changed the state (i.e. update balances balances[msg.sender] -= amount ). This is typical in Ethereum transactions. Before we change anything we need to check if it is valid to do so.
In Ergo, as we discussed previously, the state (i.e. UTXO set of boxes) is changed implicitly when a valid transaction is included in a block. Thus we only need to check the pre-conditions before the transaction can be added to the block. This is what ErgoScript contracts do.
It is not possible to “change the state” in ErgoScript because it is a language to check pre-conditions for spending coins. ErgoScript is a purely functional language without side effects that operates on immutable data values. This means all the inputs, outputs and other transaction parameters available in a script are immutable. This, among other things, makes ErgoScript a very simple language that is easy to learn and safe to use. Similar to Bitcoin, each input box contains a script, which should return the true value in order to 1) allow spending of the box (i.e. removing from the UTXO set) and 2) adding the transaction to the block.
If we are being pedantic, it is therefore incorrect (strictly speaking) to think of ErgoScript as the language of Ergo contracts, because it is the language of propositions (logical predicates, formulas, etc.) which protect boxes from “illegal” spending. Unlike Bitcoin, in Ergo the whole transaction and a part of the current blockchain context is available to every script. Therefore each script may check which outputs are created by the transaction, their ERG and token amounts (we will use this capability in our example DEX contracts), current block number etc.
In ErgoScript you define the conditions of whether changes (i.e. coin spending) are allowed to happen in a given context. This is in contrast to programming the changes imperatively in the code of a contract.
While Ergo's transaction model unlocks a whole range of applications like (DEX, DeFi Apps, LETS, etc), designing contracts as pre-conditions for coin spending (or guarding scripts) directly is not intuitive. In the next sections we will consider a useful graphical notation to design contracts declaratively using FlowCard Diagrams, which is a visual representation of executable components (FlowCards).
FlowCards aim to radically simplify dApp development on the Ergo platform by providing a high-level declarative language, execution runtime, storage format and a graphical notation.
We will start with a high level of diagrams and go down to FlowCard specification.
FlowCard Diagrams
The idea behind FlowCard diagrams is based on the following observations: 1) An Ergo box is immutable and can only be spent in the transaction which uses it as an input. 2) We therefore can draw a flow of boxes through transactions, so that boxes flowing in to the transaction are spent and those flowing out are created and added to the UTXO. 3) A transaction from this perspective is simply a transformer of old boxes to the new ones preserving the balances of ERGs and tokens involved.
The following figure shows the main elements of the Ergo transaction we've already seen previously (now under the name of FlowCard Diagram).
https://preview.redd.it/9kcxl11o9tv41.png?width=1304&format=png&auto=webp&s=378a7f50769292ca94de35ff597dc1a44af56d14
There is a strictly defined meaning (semantics) behind every element of the diagram, so that the diagram is a visual representation (or a view) of the underlying executable component (called FlowCard).
The FlowCard can be used as a reusable component of an Ergo dApp to create and initiate the transaction on the Ergo blockchain. We will discuss this in the coming sections.
Now let's look at the individual pieces of the FlowCard diagram one by one.
  1. Name and Parameters
Each flow card is given a name and a list of typed parameters. This is similar to a template with parameters. In the above figure we can see the Send flow card which has five parameters. The parameters are used in the specification.
  1. Contract Wallet
This is a key element of the flow card. Every box has a guarding script. Often it is the script that checks a signature against a public key. This script is trivial in ErgoScript and is defined like the def pk(pubkey: Address) = { pubkey } template where pubkey is a parameter of the type Address . In the figure, the script template is applied to the parameter pk(sender) and thus a concrete wallet contract is obtained. Therefore pk(sender) and pk(receiver) yield different scripts and represent different wallets on the diagram, even though they use the same template.
Contract Wallet contains a set of all UTXO boxes which have a given script derived from the given script template using flow card parameters. For example, in the figure, the template is pk and parameter pubkey is substituted with the `sender’ flow card parameter.
  1. Contract
Even though a contract is a property of a box, on the diagram we group the boxes by their contracts, therefore it looks like the boxes belong to the contracts, rather than the contracts belong to the boxes. In the example, we have three instantiated contracts pk(sender) , pk(receiver) and minerFee . Note, that pk(sender) is the instantiation of the pk template with the concrete parameter sender and minerFee is the instantiation of the pre-defined contract which protects the miner reward boxes.
  1. Box name
In the diagram we can give each box a name. Besides readability of the diagram, we also use the name as a synonym of a more complex indexed access to the box in the contract. For example, change is the name of the box, which can also be used in the ErgoScript conditions instead of OUTPUTS(2) . We also use box names to associate spending conditions with the boxes.
  1. Boxes in the wallet
In the diagram, we show boxes (darker rectangles) as belonging to the contract wallets (lighter rectangles). Each such box rectangle is connected with a grey transaction rectangle by either orange or green arrows or both. An output box (with an incoming green arrow) may include many lines of text where each line specifies a condition which should be checked as part of the transaction. The first line specifies the condition on the amount of ERG which should be placed in the box. Other lines may take one of the following forms:
  1. amount: TOKEN - the box should contain the given amount of the given TOKEN
  2. R == value - the box should contain the given value of the given register R
  3. boxName ? condition - the box named boxName should check condition in its script.
We discuss these conditions in the sections below.
  1. Amount of ERGs in the box
Each box should store a minimum amount of ERGs. This is checked when the creating transaction is validated. In the diagram the amount of ERGs is always shown as the first line (e.g. B: ERG or B - minErg - txFee ). The value type ascription B: ERG is optional and may be used for readability. When the value is given as a formula, then this formula should be respected by the transaction which creates the box.
It is important to understand that variables like amount and txFee are not named properties of the boxes. They are parameters of the whole diagram and representing some amounts. Or put it another way, they are shared parameters between transactions (e.g. Sell Order and Swap transactions from DEX example below share the tAmt parameter). So the same name is tied to the same value throughout the diagram (this is where the tooling would help a lot). However, when it comes to on-chain validation of those values, only explicit conditions which are marked with ? are transformed to ErgoScript. At the same time, all other conditions are ensured off-chain during transaction building (for example in an application using Appkit API) and transaction validation when it is added to the blockchain.
  1. Amount of T token
A box can store values of many tokens. The tokens on the diagram are named and a value variable may be associated with the token T using value: T expression. The value may be given by formula. If the formula is prefixed with a box name like boxName ? formula , then it is should also be checked in the guarding script of the boxName box. This additional specification is very convenient because 1) it allows to validate the visual design automatically, and 2) the conditions specified in the boxes of a diagram are enough to synthesize the necessary guarding scripts. (more about this below at “From Diagrams To ErgoScript Contracts”)
  1. Tx Inputs
Inputs are connected to the corresponding transaction by orange arrows. An input arrow may have a label of the following forms:
  1. [email protected] - optional name with an index i.e. [email protected] or u/2 . This is a property of the target endpoint of the arrow. The name is used in conditions of related boxes and the index is the position of the corresponding box in the INPUTS collection of the transaction.
  2. !action - is a property of the source of the arrow and gives a name for an alternative spending path of the box (we will see this in DEX example)
Because of alternative spending paths, a box may have many outgoing orange arrows, in which case they should be labeled with different actions.
  1. Transaction
A transaction spends input boxes and creates output boxes. The input boxes are given by the orange arrows and the labels are expected to put inputs at the right indexes in INPUTS collection. The output boxes are given by the green arrows. Each transaction should preserve a strict balance of ERG values (sum of inputs == sum of outputs) and for each token the sum of inputs >= the sum of outputs. The design diagram requires an explicit specification of the ERG and token values for all of the output boxes to avoid implicit errors and ensure better readability.
  1. Tx Outputs
Outputs are connected to the corresponding transaction by green arrows. An output arrow may have a label of the following [email protected] , where an optional name is accompanied with an index i.e. [email protected] or u/2 . This is a property of the source endpoint of the arrow. The name is used in conditions of the related boxes and the index is the position of the corresponding box in the OUTPUTS collection of the transaction.
Example: Decentralized Exchange (DEX)
Now let's use the above described notation to design a FlowCard for a DEX dApp. It is simple enough yet also illustrates all of the key features of FlowCard diagrams which we've introduced in the previous section.
The dApp scenario is shown in the figure below: There are three participants (buyer, seller and DEX) of the DEX dApp and five different transaction types, which are created by participants. The buyer wants to swap ergAmt of ERGs for tAmt of TID tokens (or vice versa, the seller wants to sell TID tokens for ERGs, who sends the order first doesn't matter). Both the buyer and the seller can cancel their orders any time. The DEX off-chain matching service can find matching orders and create the Swap transaction to complete the exchange.
The following diagram fully (and formally) specifies all of the five transactions that must be created off-chain by the DEX dApp. It also specifies all of the spending conditions that should be verified on-chain.

https://preview.redd.it/fnt5f4qp9tv41.png?width=1614&format=png&auto=webp&s=34f145f9a6d622454906857e645def2faba057bd
Let's discuss the FlowCard diagram and the logic of each transaction in details:
Buy Order Transaction
A buyer creates a Buy Order transaction. The transaction spends E amount of ERGs (which we will write E: ERG ) from one or more boxes in the pk(buyer) wallet. The transaction creates a bid box with ergAmt: ERG protected by the buyOrder script. The buyOrder script is synthesized from the specification (see below at “From Diagrams To ErgoScript Contracts”) either manually or automatically by a tool. Even though we don't need to define the buyOrder script explicitly during designing, at run time the bid box should contain the buyOrder script as the guarding proposition (which checks the box spending conditions), otherwise the conditions specified in the diagram will not be checked.
The change box is created to make the input and output sums of the transaction balanced. The transaction fee box is omitted because it can be added automatically by the tools. In practice, however, the designer can add the fee box explicitly to the a diagram. It covers the cases of more complex transactions (like Swap) where there are many ways to pay the transaction fee.
Cancel Buy, Cancel Sell Transactions
At any time, the buyer can cancel the order by sending CancelBuy transaction. The transaction should satisfy the guarding buyOrder contract which protects the bid box. As you can see on the diagram, both the Cancel and the Swap transactions can spend the bid box. When a box has spending alternatives (or spending paths) then each alternative is identified by a unique name prefixed with ! (!cancel and !swap for the bid box). Each alternative path has specific spending conditions. In our example, when the Cancel Buy transaction spends the bid box the ?buyer condition should be satisfied, which we read as “the signature for the buyer address should be presented in the transaction”. Therefore, only buyer can cancel the buy order. This “signature” condition is only required for the !cancel alternative spending path and not required for !swap .
Sell Order Transaction
The Sell Order transaction is similar to the BuyOrder in that it deals with tokens in addition to ERGs. The transaction spends E: ERG and T: TID tokens from seller's wallet (specified as pk(seller) contract). The two outputs are ask and change . The change is a standard box to balance transaction. The ask box keeps tAmt: TID tokens for the exchange and minErg: ERG - the minimum amount of ERGs required in every box.
Swap Transaction
This is a key transaction in the DEX dApp scenario. The transaction has several spending conditions on the input boxes and those conditions are included in the buyOrder and sellOrder scripts (which are verified when the transaction is added to the blockchain). However, on the diagram those conditions are not specified in the bid and ask boxes, they are instead defined in the output boxes of the transaction.
This is a convention for improved usability because most of the conditions relate to the properties of the output boxes. We could specify those properties in the bid box, but then we would have to use more complex expressions.
Let's consider the output created by the arrow labeled with [email protected] . This label tells us that the output is at the index 0 in the OUTPUTS collection of the transaction and that in the diagram we can refer to this box by the buyerOut name. Thus we can label both the box itself and the arrow to give the box a name.
The conditions shown in the buyerOut box have the form bid ? condition , which means they should be verified on-chain in order to spend the bid box. The conditions have the following meaning:
  • tAmt: TID requires the box to have tAmt amount of TID token
  • R4 == bid.id requires R4 register in the box to be equal to id of the bid box.
  • script == buyer requires the buyerOut box to have the script of the wallet where it is located on the diagram, i.e. pk(buyer)
Similar properties are added to the sellerOut box, which is specified to be at index 1 and the name is given to it using the label on the box itself, rather than on the arrow.
The Swap transaction spends two boxes bid and ask using the !swap spending path on both, however unlike !cancel the conditions on the path are not specified. This is where the bid ? and ask ? prefixes come into play. They are used so that the conditions listed in the buyerOut and sellerOut boxes are moved to the !swap spending path of the bid and ask boxes correspondingly.
If you look at the conditions of the output boxes, you will see that they exactly specify the swap of values between seller's and buyer's wallets. The buyer gets the necessary amount of TID token and seller gets the corresponding amount of ERGs. The Swap transaction is created when there are two matching boxes with buyOrder and sellOrder contracts.
From Diagrams To ErgoScript Contracts
What is interesting about FlowCard specifications is that we can use them to automatically generate the necessary ErgoTree scripts. With the appropriate tooling support this can be done automatically, but with the lack of thereof, it can be done manually. Thus, the FlowCard allows us to capture and visually represent all of the design choices and semantic details of an Ergo dApp.
What we are going to do next is to mechanically create the buyOrder contract from the information given in the DEX flow card.
Recall that each script is a proposition (boolean valued expression) which should evaluate to true to allow spending of the box. When we have many conditions to be met at the same time we can combine them in a logical formula using the AND binary operation, and if we have alternatives (not necessarily exclusive) we can put them into the OR operation.
The buyOrder box has the alternative spending paths !cancel and !swap . Thus the ErgoScript code should have OR operation with two arguments - one for each spending path.
/** buyOrder contract */ { val cancelCondition = {} val swapCondition = {} cancelCondition || swapCondition } 
The formula for the cancelCondition expression is given in the !cancel spending path of the buyOrder box. We can directly include it in the script.
/** buyOrder contract */ { val cancelCondition = { buyer } val swapCondition = {} cancelCondition || swapCondition } 
For the !swap spending path of the buyOrder box the conditions are specified in the buyerOut output box of the Swap transaction. If we simply include them in the swapCondition then we get a syntactically incorrect script.
/** buyOrder contract */ { val cancelCondition = { buyer } val swapCondition = { tAmt: TID && R4 == bid.id && @contract } cancelCondition || swapCondition } 
We can however translate the conditions from the diagram syntax to ErgoScript expressions using the following simple rules
  1. [email protected] ==> val buyerOut = OUTPUTS(0)
  2. tAmt: TID ==> tid._2 == tAmt where tid = buyerOut.tokens(TID)
  3. R4 == bid.id ==> R4 == SELF.id where R4 = buyerOut.R4[Coll[Byte]].get
  4. script == buyer ==> buyerOut.propositionBytes == buyer.propBytes
Note, in the diagram TID represents a token id, but ErgoScript doesn't have access to the tokens by the ids so we cannot write tokens.getByKey(TID) . For this reason, when the diagram is translated into ErgoScript, TID becomes a named constant of the index in tokens collection of the box. The concrete value of the constant is assigned when the BuyOrder transaction with the buyOrder box is created. The correspondence and consistency between the actual tokenId, the TID constant and the actual tokens of the buyerOut box is ensured by the off-chain application code, which is completely possible since all of the transactions are created by the application using FlowCard as a guiding specification. This may sound too complicated, but this is part of the translation from diagram specification to actual executable application code, most of which can be automated.
After the transformation we can obtain a correct script which checks all the required preconditions for spending the buyOrder box.
/** buyOrder contract */ def DEX(buyer: Addrss, seller: Address, TID: Int, ergAmt: Long, tAmt: Long) { val cancelCondition: SigmaProp = { buyer } // verify buyer's sig (ProveDlog) val swapCondition = OUTPUTS.size > 0 && { // securing OUTPUTS access val buyerOut = OUTPUTS(0) // from [email protected] buyerOut.tokens.size > TID && { // securing tokens access val tid = buyerOut.tokens(TID) val regR4 = buyerOut.R4[Coll[Byte]] regR4.isDefined && { // securing R4 access val R4 = regR4.get tid._2 == tAmt && // from tAmt: TID R4 == SELF.id && // from R4 == bid.id buyerOut.propositionBytes == buyer.propBytes // from script == buyer } } } cancelCondition || swapCondition } 
A similar script for the sellOrder box can be obtained using the same translation rules. With the help of the tooling the code of contracts can be mechanically generated from the diagram specification.
Conclusions
Declarative programming models have already won the battle against imperative programming in many application domains like Big Data, Stream Processing, Deep Learning, Databases, etc. Ergo is pioneering the declarative model of dApp development as a better and safer alternative to the now popular imperative model of smart contracts.
The concept of FlowCard shifts the focus from writing ErgoScript contracts to the overall flow of values (hence the name), in such a way, that ErgoScript can always be generated from them. You will never need to look at the ErgoScript code once the tooling is in place.
Here are the possible next steps for future work:
  1. Storage format for FlowCard Spec and the corresponding EIP standardized file format (Json/XML/Protobuf). This will allow various tools (Diagram Editor, Runtime, dApps etc) to create and use *.flowcard files.
  2. FlowCard Viewer, which can generate the diagrams from *.flowcard files.
  3. FlowCard Runtime, which can run *.flowcard files, create and send transactions to Ergo network.
  4. FlowCard Designer Tool, which can simplify development of complex diagrams . This will make designing and validation of Ergo contracts a pleasant experience, more like drawing rather than coding. In addition, the correctness of the whole dApp scenario can be verified and controlled by the tooling.
submitted by Guilty_Pea to CryptoCurrencies [link] [comments]

FlowCards: A Declarative Framework for Development of Ergo dApps

FlowCards: A Declarative Framework for Development of Ergo dApps
Introduction
ErgoScript is the smart contract language used by the Ergo blockchain. While it has concise syntax adopted from Scala/Kotlin, it still may seem confusing at first because conceptually ErgoScript is quite different compared to conventional languages which we all know and love. This is because Ergo is a UTXO based blockchain, whereas smart contracts are traditionally associated with account based systems like Ethereum. However, Ergo's transaction model has many advantages over the account based model and with the right approach it can even be significantly easier to develop Ergo contracts than to write and debug Solidity code.
Below we will cover the key aspects of the Ergo contract model which makes it different:
Paradigm
The account model of Ethereum is imperative. This means that the typical task of sending coins from Alice to Bob requires changing the balances in storage as a series of operations. Ergo's UTXO based programming model on the other hand is declarative. ErgoScript contracts specify conditions for a transaction to be accepted by the blockchain (not changes to be made in the storage state as result of the contract execution).
Scalability
In the account model of Ethereum both storage changes and validity checks are performed on-chain during code execution. In contrast, Ergo transactions are created off-chain and only validation checks are performed on-chain thus reducing the amount of operations performed by every node on the network. In addition, due to immutability of the transaction graph, various optimization strategies are possible to improve throughput of transactions per second in the network. Light verifying nodes are also possible thus further facilitating scalability and accessibility of the network.
Shared state
The account-based model is reliant on shared mutable state which is known to lead to complex semantics (and subtle million dollar bugs) in the context of concurrent/ distributed computation. Ergo's model is based on an immutable graph of transactions. This approach, inherited from Bitcoin, plays well with the concurrent and distributed nature of blockchains and facilitates light trustless clients.
Expressive Power
Ethereum advocated execution of a turing-complete language on the blockchain. It theoretically promised unlimited potential, however in practice severe limitations came to light from excessive blockchain bloat, subtle multi-million dollar bugs, gas costs which limit contract complexity, and other such problems. Ergo on the flip side extends UTXO to enable turing-completeness while limiting the complexity of the ErgoScript language itself. The same expressive power is achieved in a different and more semantically sound way.
With the all of the above points, it should be clear that there are a lot of benefits to the model Ergo is using. In the rest of this article I will introduce you to the concept of FlowCards - a dApp developer component which allows for designing complex Ergo contracts in a declarative and visual way.

From Imperative to Declarative

In the imperative programming model of Ethereum a transaction is a sequence of operations executed by the Ethereum VM. The following Solidity function implements a transfer of tokens from sender to receiver . The transaction starts when sender calls this function on an instance of a contract and ends when the function returns.
// Sends an amount of existing coins from any caller to an address function send(address receiver, uint amount) public { require(amount <= balances[msg.sender], "Insufficient balance."); balances[msg.sender] -= amount; balances[receiver] += amount; emit Sent(msg.sender, receiver, amount); } 
The function first checks the pre-conditions, then updates the storage (i.e. balances) and finally publishes the post-condition as the Sent event. The gas which is consumed by the transaction is sent to the miner as a reward for executing this transaction.
Unlike Ethereum, a transaction in Ergo is a data structure holding a list of input coins which it spends and a list of output coins which it creates preserving the total balances of ERGs and tokens (in which Ergo is similar to Bitcoin).
Turning back to the example above, since Ergo natively supports tokens, therefore for this specific example of sending tokens we don't need to write any code in ErgoScript. Instead we need to create the ‘send’ transaction shown in the following figure, which describes the same token transfer but declaratively.
https://preview.redd.it/sxs3kesvrsv41.png?width=1348&format=png&auto=webp&s=582382bc26912ff79114d831d937d94b6988e69f
The picture visually describes the following steps, which the network user needs to perform:
  1. Select unspent sender's boxes, containing in total tB >= amount of tokens and B >= txFee + minErg ERGs.
  2. Create an output target box which is protected by the receiver public key with minErg ERGs and amount of T tokens.
  3. Create one fee output protected by the minerFee contract with txFee ERGs.
  4. Create one change output protected by the sender public key, containing B - minErg - txFee ERGs and tB - amount of T tokens.
  5. Create a new transaction, sign it using the sender's secret key and send to the Ergo network.
What is important to understand here is that all of these steps are preformed off-chain (for example using Appkit Transaction API) by the user's application. Ergo network nodes don't need to repeat this transaction creation process, they only need to validate the already formed transaction. ErgoScript contracts are stored in the inputs of the transaction and check spending conditions. The node executes the contracts on-chain when the transaction is validated. The transaction is valid if all of the conditions are satisfied.
Thus, in Ethereum when we “send amount from sender to recipient” we are literally editing balances and updating the storage with a concrete set of commands. This happens on-chain and thus a new transaction is also created on-chain as the result of this process.
In Ergo (as in Bitcoin) transactions are created off-chain and the network nodes only verify them. The effects of the transaction on the blockchain state is that input coins (or Boxes in Ergo's parlance) are removed and output boxes are added to the UTXO set.
In the example above we don't use an ErgoScript contract but instead assume a signature check is used as the spending pre-condition. However in more complex application scenarios we of course need to use ErgoScript which is what we are going to discuss next.

From Changing State to Checking Context

In the send function example we first checked the pre-condition (require(amount <= balances[msg.sender],...) ) and then changed the state (i.e. update balances balances[msg.sender] -= amount ). This is typical in Ethereum transactions. Before we change anything we need to check if it is valid to do so.
In Ergo, as we discussed previously, the state (i.e. UTXO set of boxes) is changed implicitly when a valid transaction is included in a block. Thus we only need to check the pre-conditions before the transaction can be added to the block. This is what ErgoScript contracts do.
It is not possible to “change the state” in ErgoScript because it is a language to check pre-conditions for spending coins. ErgoScript is a purely functional language without side effects that operates on immutable data values. This means all the inputs, outputs and other transaction parameters available in a script are immutable. This, among other things, makes ErgoScript a very simple language that is easy to learn and safe to use. Similar to Bitcoin, each input box contains a script, which should return the true value in order to 1) allow spending of the box (i.e. removing from the UTXO set) and 2) adding the transaction to the block.
If we are being pedantic, it is therefore incorrect (strictly speaking) to think of ErgoScript as the language of Ergo contracts, because it is the language of propositions (logical predicates, formulas, etc.) which protect boxes from “illegal” spending. Unlike Bitcoin, in Ergo the whole transaction and a part of the current blockchain context is available to every script. Therefore each script may check which outputs are created by the transaction, their ERG and token amounts (we will use this capability in our example DEX contracts), current block number etc.
In ErgoScript you define the conditions of whether changes (i.e. coin spending) are allowed to happen in a given context. This is in contrast to programming the changes imperatively in the code of a contract.
While Ergo's transaction model unlocks a whole range of applications like (DEX, DeFi Apps, LETS, etc), designing contracts as pre-conditions for coin spending (or guarding scripts) directly is not intuitive. In the next sections we will consider a useful graphical notation to design contracts declaratively using FlowCard Diagrams, which is a visual representation of executable components (FlowCards).
FlowCards aim to radically simplify dApp development on the Ergo platform by providing a high-level declarative language, execution runtime, storage format and a graphical notation.
We will start with a high level of diagrams and go down to FlowCard specification.

FlowCard Diagrams

The idea behind FlowCard diagrams is based on the following observations: 1) An Ergo box is immutable and can only be spent in the transaction which uses it as an input. 2) We therefore can draw a flow of boxes through transactions, so that boxes flowing in to the transaction are spent and those flowing out are created and added to the UTXO. 3) A transaction from this perspective is simply a transformer of old boxes to the new ones preserving the balances of ERGs and tokens involved.
The following figure shows the main elements of the Ergo transaction we've already seen previously (now under the name of FlowCard Diagram).
https://preview.redd.it/06aqkcd1ssv41.png?width=1304&format=png&auto=webp&s=106eda730e0526919aabd5af9596b97e45b69777
There is a strictly defined meaning (semantics) behind every element of the diagram, so that the diagram is a visual representation (or a view) of the underlying executable component (called FlowCard).
The FlowCard can be used as a reusable component of an Ergo dApp to create and initiate the transaction on the Ergo blockchain. We will discuss this in the coming sections.
Now let's look at the individual pieces of the FlowCard diagram one by one.
1. Name and Parameters
Each flow card is given a name and a list of typed parameters. This is similar to a template with parameters. In the above figure we can see the Send flow card which has five parameters. The parameters are used in the specification.
2. Contract Wallet
This is a key element of the flow card. Every box has a guarding script. Often it is the script that checks a signature against a public key. This script is trivial in ErgoScript and is defined like the def pk(pubkey: Address) = { pubkey } template where pubkey is a parameter of the type Address . In the figure, the script template is applied to the parameter pk(sender) and thus a concrete wallet contract is obtained. Therefore pk(sender) and pk(receiver) yield different scripts and represent different wallets on the diagram, even though they use the same template.
Contract Wallet contains a set of all UTXO boxes which have a given script derived from the given script template using flow card parameters. For example, in the figure, the template is pk and parameter pubkey is substituted with the `sender’ flow card parameter.
3. Contract
Even though a contract is a property of a box, on the diagram we group the boxes by their contracts, therefore it looks like the boxes belong to the contracts, rather than the contracts belong to the boxes. In the example, we have three instantiated contracts pk(sender) , pk(receiver) and minerFee . Note, that pk(sender) is the instantiation of the pk template with the concrete parameter sender and minerFee is the instantiation of the pre-defined contract which protects the miner reward boxes.
4. Box name
In the diagram we can give each box a name. Besides readability of the diagram, we also use the name as a synonym of a more complex indexed access to the box in the contract. For example, change is the name of the box, which can also be used in the ErgoScript conditions instead of OUTPUTS(2) . We also use box names to associate spending conditions with the boxes.
5. Boxes in the wallet
In the diagram, we show boxes (darker rectangles) as belonging to the contract wallets (lighter rectangles). Each such box rectangle is connected with a grey transaction rectangle by either orange or green arrows or both. An output box (with an incoming green arrow) may include many lines of text where each line specifies a condition which should be checked as part of the transaction. The first line specifies the condition on the amount of ERG which should be placed in the box. Other lines may take one of the following forms:
  1. amount: TOKEN - the box should contain the given amount of the given TOKEN
  2. R == value - the box should contain the given value of the given register R
  3. boxName ? condition - the box named boxName should check condition in its script.
We discuss these conditions in the sections below.
6. Amount of ERGs in the box
Each box should store a minimum amount of ERGs. This is checked when the creating transaction is validated. In the diagram the amount of ERGs is always shown as the first line (e.g. B: ERG or B - minErg - txFee ). The value type ascription B: ERG is optional and may be used for readability. When the value is given as a formula, then this formula should be respected by the transaction which creates the box.
It is important to understand that variables like amount and txFee are not named properties of the boxes. They are parameters of the whole diagram and representing some amounts. Or put it another way, they are shared parameters between transactions (e.g. Sell Order and Swap transactions from DEX example below share the tAmt parameter). So the same name is tied to the same value throughout the diagram (this is where the tooling would help a lot). However, when it comes to on-chain validation of those values, only explicit conditions which are marked with ? are transformed to ErgoScript. At the same time, all other conditions are ensured off-chain during transaction building (for example in an application using Appkit API) and transaction validation when it is added to the blockchain.
7. Amount of T token
A box can store values of many tokens. The tokens on the diagram are named and a value variable may be associated with the token T using value: T expression. The value may be given by formula. If the formula is prefixed with a box name like boxName ? formula , then it is should also be checked in the guarding script of the boxName box. This additional specification is very convenient because 1) it allows to validate the visual design automatically, and 2) the conditions specified in the boxes of a diagram are enough to synthesize the necessary guarding scripts. (more about this below at “From Diagrams To ErgoScript Contracts”)
8. Tx Inputs
Inputs are connected to the corresponding transaction by orange arrows. An input arrow may have a label of the following forms:
  1. [email protected] - optional name with an index i.e. [email protected] or u/2 . This is a property of the target endpoint of the arrow. The name is used in conditions of related boxes and the index is the position of the corresponding box in the INPUTS collection of the transaction.
  2. !action - is a property of the source of the arrow and gives a name for an alternative spending path of the box (we will see this in DEX example)
Because of alternative spending paths, a box may have many outgoing orange arrows, in which case they should be labeled with different actions.
9. Transaction
A transaction spends input boxes and creates output boxes. The input boxes are given by the orange arrows and the labels are expected to put inputs at the right indexes in INPUTS collection. The output boxes are given by the green arrows. Each transaction should preserve a strict balance of ERG values (sum of inputs == sum of outputs) and for each token the sum of inputs >= the sum of outputs. The design diagram requires an explicit specification of the ERG and token values for all of the output boxes to avoid implicit errors and ensure better readability.
10. Tx Outputs
Outputs are connected to the corresponding transaction by green arrows. An output arrow may have a label of the following [email protected] , where an optional name is accompanied with an index i.e. [email protected] or u/2 . This is a property of the source endpoint of the arrow. The name is used in conditions of the related boxes and the index is the position of the corresponding box in the OUTPUTS collection of the transaction.

Example: Decentralized Exchange (DEX)

Now let's use the above described notation to design a FlowCard for a DEX dApp. It is simple enough yet also illustrates all of the key features of FlowCard diagrams which we've introduced in the previous section.
The dApp scenario is shown in the figure below: There are three participants (buyer, seller and DEX) of the DEX dApp and five different transaction types, which are created by participants. The buyer wants to swap ergAmt of ERGs for tAmt of TID tokens (or vice versa, the seller wants to sell TID tokens for ERGs, who sends the order first doesn't matter). Both the buyer and the seller can cancel their orders any time. The DEX off-chain matching service can find matching orders and create the Swap transaction to complete the exchange.
The following diagram fully (and formally) specifies all of the five transactions that must be created off-chain by the DEX dApp. It also specifies all of the spending conditions that should be verified on-chain.

https://preview.redd.it/piogz0v9ssv41.png?width=1614&format=png&auto=webp&s=e1b503a635ad3d138ef91e2f0c3b726e78958646
Let's discuss the FlowCard diagram and the logic of each transaction in details:
Buy Order Transaction
A buyer creates a Buy Order transaction. The transaction spends E amount of ERGs (which we will write E: ERG ) from one or more boxes in the pk(buyer) wallet. The transaction creates a bid box with ergAmt: ERG protected by the buyOrder script. The buyOrder script is synthesized from the specification (see below at “From Diagrams To ErgoScript Contracts”) either manually or automatically by a tool. Even though we don't need to define the buyOrder script explicitly during designing, at run time the bid box should contain the buyOrder script as the guarding proposition (which checks the box spending conditions), otherwise the conditions specified in the diagram will not be checked.
The change box is created to make the input and output sums of the transaction balanced. The transaction fee box is omitted because it can be added automatically by the tools. In practice, however, the designer can add the fee box explicitly to the a diagram. It covers the cases of more complex transactions (like Swap) where there are many ways to pay the transaction fee.
Cancel Buy, Cancel Sell Transactions
At any time, the buyer can cancel the order by sending CancelBuy transaction. The transaction should satisfy the guarding buyOrder contract which protects the bid box. As you can see on the diagram, both the Cancel and the Swap transactions can spend the bid box. When a box has spending alternatives (or spending paths) then each alternative is identified by a unique name prefixed with ! (!cancel and !swap for the bid box). Each alternative path has specific spending conditions. In our example, when the Cancel Buy transaction spends the bid box the ?buyer condition should be satisfied, which we read as “the signature for the buyer address should be presented in the transaction”. Therefore, only buyer can cancel the buy order. This “signature” condition is only required for the !cancel alternative spending path and not required for !swap .
Sell Order Transaction
The Sell Order transaction is similar to the BuyOrder in that it deals with tokens in addition to ERGs. The transaction spends E: ERG and T: TID tokens from seller's wallet (specified as pk(seller) contract). The two outputs are ask and change . The change is a standard box to balance transaction. The ask box keeps tAmt: TID tokens for the exchange and minErg: ERG - the minimum amount of ERGs required in every box.
Swap Transaction
This is a key transaction in the DEX dApp scenario. The transaction has several spending conditions on the input boxes and those conditions are included in the buyOrder and sellOrder scripts (which are verified when the transaction is added to the blockchain). However, on the diagram those conditions are not specified in the bid and ask boxes, they are instead defined in the output boxes of the transaction.
This is a convention for improved usability because most of the conditions relate to the properties of the output boxes. We could specify those properties in the bid box, but then we would have to use more complex expressions.
Let's consider the output created by the arrow labeled with [email protected] . This label tells us that the output is at the index 0 in the OUTPUTS collection of the transaction and that in the diagram we can refer to this box by the buyerOut name. Thus we can label both the box itself and the arrow to give the box a name.
The conditions shown in the buyerOut box have the form bid ? condition , which means they should be verified on-chain in order to spend the bid box. The conditions have the following meaning:
  • tAmt: TID requires the box to have tAmt amount of TID token
  • R4 == bid.id requires R4 register in the box to be equal to id of the bid box.
  • script == buyer requires the buyerOut box to have the script of the wallet where it is located on the diagram, i.e. pk(buyer)
Similar properties are added to the sellerOut box, which is specified to be at index 1 and the name is given to it using the label on the box itself, rather than on the arrow.
The Swap transaction spends two boxes bid and ask using the !swap spending path on both, however unlike !cancel the conditions on the path are not specified. This is where the bid ? and ask ? prefixes come into play. They are used so that the conditions listed in the buyerOut and sellerOut boxes are moved to the !swap spending path of the bid and ask boxes correspondingly.
If you look at the conditions of the output boxes, you will see that they exactly specify the swap of values between seller's and buyer's wallets. The buyer gets the necessary amount of TID token and seller gets the corresponding amount of ERGs. The Swap transaction is created when there are two matching boxes with buyOrder and sellOrder contracts.

From Diagrams To ErgoScript Contracts

What is interesting about FlowCard specifications is that we can use them to automatically generate the necessary ErgoTree scripts. With the appropriate tooling support this can be done automatically, but with the lack of thereof, it can be done manually. Thus, the FlowCard allows us to capture and visually represent all of the design choices and semantic details of an Ergo dApp.
What we are going to do next is to mechanically create the buyOrder contract from the information given in the DEX flow card.
Recall that each script is a proposition (boolean valued expression) which should evaluate to true to allow spending of the box. When we have many conditions to be met at the same time we can combine them in a logical formula using the AND binary operation, and if we have alternatives (not necessarily exclusive) we can put them into the OR operation.
The buyOrder box has the alternative spending paths !cancel and !swap . Thus the ErgoScript code should have OR operation with two arguments - one for each spending path.
/** buyOrder contract */ { val cancelCondition = {} val swapCondition = {} cancelCondition || swapCondition } 
The formula for the cancelCondition expression is given in the !cancel spending path of the buyOrder box. We can directly include it in the script.
/** buyOrder contract */ { val cancelCondition = { buyer } val swapCondition = {} cancelCondition || swapCondition } 
For the !swap spending path of the buyOrder box the conditions are specified in the buyerOut output box of the Swap transaction. If we simply include them in the swapCondition then we get a syntactically incorrect script.
/** buyOrder contract */ { val cancelCondition = { buyer } val swapCondition = { tAmt: TID && R4 == bid.id && @contract } cancelCondition || swapCondition } 
We can however translate the conditions from the diagram syntax to ErgoScript expressions using the following simple rules
  1. [email protected] ==> val buyerOut = OUTPUTS(0)
  2. tAmt: TID ==> tid._2 == tAmt where tid = buyerOut.tokens(TID)
  3. R4 == bid.id ==> R4 == SELF.id where R4 = buyerOut.R4[Coll[Byte]].get
  4. script == buyer ==> buyerOut.propositionBytes == buyer.propBytes
Note, in the diagram TID represents a token id, but ErgoScript doesn't have access to the tokens by the ids so we cannot write tokens.getByKey(TID) . For this reason, when the diagram is translated into ErgoScript, TID becomes a named constant of the index in tokens collection of the box. The concrete value of the constant is assigned when the BuyOrder transaction with the buyOrder box is created. The correspondence and consistency between the actual tokenId, the TID constant and the actual tokens of the buyerOut box is ensured by the off-chain application code, which is completely possible since all of the transactions are created by the application using FlowCard as a guiding specification. This may sound too complicated, but this is part of the translation from diagram specification to actual executable application code, most of which can be automated.
After the transformation we can obtain a correct script which checks all the required preconditions for spending the buyOrder box.
/** buyOrder contract */ def DEX(buyer: Addrss, seller: Address, TID: Int, ergAmt: Long, tAmt: Long) { val cancelCondition: SigmaProp = { buyer } // verify buyer's sig (ProveDlog) val swapCondition = OUTPUTS.size > 0 && { // securing OUTPUTS access val buyerOut = OUTPUTS(0) // from [email protected] buyerOut.tokens.size > TID && { // securing tokens access val tid = buyerOut.tokens(TID) val regR4 = buyerOut.R4[Coll[Byte]] regR4.isDefined && { // securing R4 access val R4 = regR4.get tid._2 == tAmt && // from tAmt: TID R4 == SELF.id && // from R4 == bid.id buyerOut.propositionBytes == buyer.propBytes // from script == buyer } } } cancelCondition || swapCondition } 
A similar script for the sellOrder box can be obtained using the same translation rules. With the help of the tooling the code of contracts can be mechanically generated from the diagram specification.

Conclusions

Declarative programming models have already won the battle against imperative programming in many application domains like Big Data, Stream Processing, Deep Learning, Databases, etc. Ergo is pioneering the declarative model of dApp development as a better and safer alternative to the now popular imperative model of smart contracts.
The concept of FlowCard shifts the focus from writing ErgoScript contracts to the overall flow of values (hence the name), in such a way, that ErgoScript can always be generated from them. You will never need to look at the ErgoScript code once the tooling is in place.
Here are the possible next steps for future work:
  1. Storage format for FlowCard Spec and the corresponding EIP standardized file format (Json/XML/Protobuf). This will allow various tools (Diagram Editor, Runtime, dApps etc) to create and use *.flowcard files.
  2. FlowCard Viewer, which can generate the diagrams from *.flowcard files.
  3. FlowCard Runtime, which can run *.flowcard files, create and send transactions to Ergo network.
  4. FlowCard Designer Tool, which can simplify development of complex diagrams . This will make designing and validation of Ergo contracts a pleasant experience, more like drawing rather than coding. In addition, the correctness of the whole dApp scenario can be verified and controlled by the tooling.
submitted by eleanorcwhite to btc [link] [comments]

(TDN) script + edits. ATTENTION this is for humor this does not mean I like the trends/celebrities involved. Also it's slightly edgy

ATTENTION this is for humor this does not mean I like the trends/celebrities involved. Also it's slightly edgy
Thanks to https://www.youtube.com/channel/UCgD0z6P5xtb8QrZeb5GvjpA
My channel https://www.youtube.com/channel/UCZSXW4Dc95if3tmqV84veeA
Proof of originality https://youtu.be/qut-Hqe8u2g (this one is different due to edits)
There may be some problems with the script. Sorry
THEY'RE DISCRETE AT NIGHT -by elijah snodgrass
Characters-
-Nazi Elmo -Pedestrians (5) -David Dorbrick -Incredible Hulk -Fisherman -goku -Twilight Sparkle -DanTDM -Danny Phantom -Spanky the Monkey -Goku’s Kneecap -10 Pirates -Sonic the Hedgehog -European Union -FBI Agent 1 -FBI Agent 2 -FBI Agent 3 -Eliza Thornberry -God -Nicky Manaj -Eminem -Harry Potter -Gangster Fat Guy (Pete) - 10 Communists -Ash -Mage -Kraken -Sentient Water Bottle -Dash Sears -Cleric -Car -Christian -Knuckles -The Worms -Sam -China Guy -Smacky the Monkey -News Host 1 -News Host 2 -Bambie_G -Backup Singer 1 -Backup Singer 2 -Abraham Lincoln -5 Cult Members -Cultist -Kat-B320 -Cosplayer -Ling -Dentist -Sign Holder -Literally The Pope -2 models -Lagoona -Math Guy -old man Sign Holder walks across the stage holding a sign that says “December 2 1940 (WW2)”
Curtains open on a backdrop that is late at night. (Lights Off). A van can be seen down the road the headlights blind pedestrians causing them to fall to the ground holding their eyes. A figure emerges from the white van. The figure is not easy to see in the shadows. Someone covered in red fur waits in the abandoned McDonald's drive through, It is nazi Elmo. The figure comes out of the darkness into the buzzing lights (Spotlight On) beside the McDonald's revealing that he is David Dobrick.
Elmo: I've been waiting for you.
David Dobrick: Elmo stop playing these games!
Elmo: What do you mean?
David Dobrick: why here?
David dobrick gives Nazi Elmo a duffle bag Elmo eyes it closely sniffing it deeply.
David dobrick: I'm leaving now there's no more for me to do.
Elmo takes out a Mauser and shoots David directly in the head. David falls to the ground making a desperate attempt to crawl away he finally gives back a final breath.
Elmo: a shame, You were a fine minion.
Sign Holder crawls across the stage holding a sign that says “December 2, 1999”
The curtains close and reopen to a small village.
The incredible hulk: Did you hear about last night?
Fisherman: Shut up, I'm just selling fish!
Hulk: you will never understand.
Fisherman: are ya buyin or not. (randomly an Irish accent).
Hulk: Yeah yeah.
Hulk digs into his ripped purple shorts. He digs for about a minute then finally takes out a bag. The bag contains a few strange blue coins. Hulk flips a coin to him he takes the fish.
Fisherman: This isn't money!
Hulk dashes away from the fisherman with great speed and agility, Danny Phantom enters and seems confused DanTDM does the same.
Danny Phantom: Where am I????
DanTDM: Dad, really?.
Danny Phantom: Ho Ho HO you always get me.
Twilight enters cheerily.
Twilight sparkle: Hello magical friends.
Danny Phantom blushes showing an extremely desperate attempt to hide his major crush for twilight, Goku enters with a long grin and a teapot.
Goku: I lost my vocal cords.
Goku’s kneecap: No your wrong.
Twilight jumps into a pit of cherry jello and suffocates to death The lights abruptly dim, After a while hulk chims up
Hulk: Damn it's getting’ dark y'all!
Goku: Your right we should find a spot to camp.
DanTDM looks over into a strange door that seems to be connected to a cave, The door has metal bars coming down the it and the doorknob is broken off. DanTDM walks over to it and so do the rest of them.
DanTDM: This place looks super scary!
DanTDM opens the door by putting his foot under it and prying it open. They all travel down.
Hulk: If something approaches i'll smash them.
Danny Phantom: I'll send them into the ghost mug.
Nazi Elmo aproaches holding a lanturn veering the light towrds them.
Nazi Elmo: I thought I told earth a lesson last time.
Hulk: ive heard of this, Its nazi Elmo. An ultra hybrid evolving demon from WW2. my father always told me he would come but I never believed him, I guess he was right!
Nazi Elmo: Yes thats right, now i will destroy the human race.
Goku forms a blue energy into his hands and blasts nazi Elmo he flies into a wall.
Nazi Elmo: Dang, you used the unspell spell, now i cant destroy you.
Goku: Not only that but I formed a lock spell so you can't touch us.
Nazi Elmo tries to punch goku but it goes right through him.
Danny Phantom: We still have to rest in this wretched dungeon to discover tomorrow.
Spanky the monkey enters.
Spanky the monkey: hey y'all!
DanTDM: OH NO!
DanTDM pulls out a yellow sword and slices the monkey. Spanky the Monkey dies.
DanTDM: I only leave bones on the ground and blood on my sword.
Nazi Elmo pulls out a duffle bag and throws it at Danny Phantom. Everyone other than Elmo teleports outside.
Danny Phantom: Wha-What is this?
Nazi Elmo: heehee.
Danny Phantom opens the bag and pulls out a strange device. Nazi Elmo presses a button on the device. A hydrogen bomb comes out from the device and goes into the sky and blows up the moon.
Nazi Elmo: i do what i must, HeeHeeHee...
Moon pieces fall from the sky striking DanTDM and danny Phantom in the leg.
DanTDM: Oh god its in my head AHHHH!!!
Danny Phantom: my-my heart it h- uuuuhhhh
Danny Phantom falls to the ground covered in blood, After a minute of everyone watching danny chokes on his blood and dies. Goku forms a green beam onto DanTDM and the moon piece is healed
Goku: i healed the crater in your head. A hearty gang of 10 pirates enter drinking rum and singing.
Everyone in the gang: “HeeHee We kill with glee while we shoot them dead in their heads.”
Sonic enters selling canned chili tacos at an alarming rate.
Sonic: God i've already sold 400,000,000 cans of chili tacos.
Sonic: what's this?
Sonic picks up the teleport box and clicks it teleporting the remaining people in the area and spankys dead corpse to the EU building. The entire European Union senate enters chatter emerges from the crowd, Nazi Elmo enters soon after him no one follows.
Goku enters 5 seconds later.
The whole EU starts talking Nazi Elmo shoots through them cauing them all to fall on a fence decapitating them all.
Elmo: That'll deal with the economy.
Eliza Thronberry(respected EU member) enters.
Goku: Damn your kinda hot!!
Eliza Thornberry: Thank you teehee.
The fbi enters.
Fbi Agent 1: I'm a unoriginal character forced In by the editors
Fbi Agent 2: hands on behind your back.
Fbi Agent 3: You hear us???? We said do it.
Goku: no.
Goku blast all three agents into a pile of ash and organs.
Eminem enters
Eminem: I eat cheetos, Powdered like doritos, I steal the fritos, Goku don't need a knee tho.
Eminem shoots Goku in the knee.
Goku’s kneecap dies.
Nicky Manaj enters.
Nicky: Ey yo i'm Nicky Manaj.
Nicky kills herself out of fear.
Goku: all my friends die at some point
Curtains close, Everyone leaves the scene The curtains open revealing an exterior of walmart Harry potter enters.
Harry: I really am a wizard and my powers are extreme.
Harry sends a lightning blast into the sky.
Harry: that’ll teach god a lesson.
God enters.
God: How dare you defy me mortal.
Harry stabs god, Gangster Fat Guy enters.
Gangster Fat Guy is holding two models both sides of him With a gold chain and grills.
Gangster Fat Guy: Eyyyyy yoyoyoyo Waddup homie.
Gangster Fat Guy pulls out a glock 18 and sends 3 shots towards harry all shooting him in the chest instantly killing him.
Gangster Fat Guy: God was my brudda that's your payback.
Gangster Fat Guy puts away his glock takes out a mic Gangster fat guy starts singing to this beat https://youtu.be/lHuQlCXvXfk.
Gangster Fat Guy: “Yu Yu, My life hard, I can't afford lard, I once was barred, EWEEEEEEE, I smoke tea, I'm green.”
The communist party enters
Every communist(10): Smell us.
Goku enters
Goku: no why would I do that.
Gangster fat guy shoots them all once in the head killing them all immediately.
Gangster fat guy: Alright we need to work together.
Goku: i know.
They both walk out.
Sign Holder Sprints across the stage holding a sign that says “Many years later 2198 december 2 in An alleyway by fred meyers and wendys”.
Nazi Elmo: I finally figured it out HAHAHAHA gokus spell has been destroyed.
Goku enters
Goku: Nope, you dumb.
Goku blasts nazi Elmo killing him.
Gangster fat guy: Nice.
They both leave, Sentient water bottle enters. Sentient water bottle peices together nazi Elmo. Nazi Elmo awakes Goku reenters, Goku blasts the waterbottle and nazi Elmo again.
Goku: Ha you thought. Also I love Elijah snodgrass and u/crunchedspine (just in case someone copy pastes without reading)
Ash ketchum enters.
Ash: God I need to catch them all.
Goku: Why?
Ash grabs out a pokeball and throws it at goku, Goku is crunched into the pokeball
Ash: YES.
A mage enters
Mage: I have healed someone
Ash: I CHOSE YOU GOKU.
Goku: AHHHHHH.
Goku comes out of the ball and shoots a laser at the mage. Mage dies.
Mage: HOW COULD YOU AHHHHHHHH!!
Ash: good going goku.
Goku: The taxes won't pay themself.
Goku takes his fedora and walks out the door, Ash falls to the ground shaking and crying.
Ash: Why do I live!
Ash picks up spanky's dead corpse and eats him
Ash(With his mouth full): MMmf So good MMMMf.
Ash takes out a torch and burn his eyes out and dies, Sonic enters.
Sonic: my numbers has made it too 500,000,000,000,000 sold but now i have a broken back and a fatal disease.
Hulk enters, Hulk smashes sonic to death, The kraken enters.
Kraken: I WILL SMACK YOU TO DEATH.
Gangster fat guy enters.
Gangster fat guy: What?
Gangster fat guy shoots the kraken The kraken dies leaving ink on the ground, Christian enters.
Christian: hello my name is christian.
Christian comes to terms with his fatal decisions and jumps off the stage killing himself
gangster fat guy: hi bruddas.
Gangster fat guy gets a parasite.
Gangster fat guy: AAAAHHHHH MY BRAIN.
Gangster fat guy shoots the parasite.
Gangster fat guy: I win like usual, But i love hulk.
Gangster fat guy blushes.
Hulk: You do?
Gangster fat guy: yes.
Hulk smashes gangster fat guy to death hulk was so sad he dies, Dash sears enters.
Dash: Where is it?! Where is he?!
Dash stabs himself in the stomach and dies, A cleric enters.
Cleric: i will heal you.
Cleric heals gangster fat guy and then dies from using all of power.
Gangster fat guy: thanks pops.
A nissan altima car enters and seems confused about the death.
Car: But why would that happen.
The car explodes
Gangster fat guy: My name is pete.
Pete: I will find goku.
Pete goes out the door and 5 seconds later pulls out. Goku and Knuckles enter.
Knuckles: Give the pick-le or get the stick-le.
Pete: pickles are not round these parts.
Goku blasts Knuckles into the sun, Knuckles survives.
Knuckles: You tried you apple pies.
Knuckles folds his spine. Knuckles: I don't think I can take this emotional trauma.
Knuckles runs off crying, a little while later goku starts talking to break the silence, worms crawl at his feet and enter.
Goku: The worms still talk to me.
The Worms: No we don't.
Goku: Nevermind.
Pete: What were you saying.
Goku: Nothing just dont worry about it.
Pete: Ever since I was a kid I was into crime.
Goku: Don't worry my friend we will get through this.
Pete starts crying and sits on Goku’s lap.
Goku: Kinda burns.
Pete: Did you hear that.
Pete actually heard nothing he just really felt like lying, Worms leave.
Goku: No.
Pete: we have to go.
Goku: Your just wrong.
Pete shoots goku in the chest, Goku runs off bleeding out, Pete leaves, Goku enters.
Goku: I thought I loved him he was a brother.
Knuckles enters.
Knuckles: The chamber clangs
Gangster pete and goku enters a chamber everyone else is left behind, There is a ghost and its nazi Elmo, Nazi Elmo comes back to life.
Goku: this is too creepy guys lets skip.
A While later Knuckles, nazi Elmo, pete and goku all enter the dollar store.
Knuckles: I'm buying a cap no cap though.
Knuckles walks to the register, sam is at the register.
Sam: costs 40$.
Knuckles: no money.
Sam: ok.
They leave, curtains close news reporter enters
Reporter: breaking news local clerk sam is dead!
The reporter leaves. Curtains open to a skate park. Goku enters, Goku’s chest is very revealed Princess peach enters as well.
Princess peach: Your Mega hot!!!
Princess peach loves goku so much she dies.
Goku: Why does everyone i love leave me?
Goku starts crying, goku looks up.
Goku: Alright guys we have to find the key.
They all start skating 5 sec later.
Goku: guys?!
Goku looks into the sky. Knuckles enters
Knuckles: wassup bruv.
Goku forms an energy circle around him, pete and knuckles he starts to scream as he uses energy.
Goku: AAAHHHHH!
Knuckles: It's a nuke!
Pete: we must go to China to escape, it's the only way!
Goku teleports pete, knuckles, and himself to China with his superpowers.
Goku: we are in China now.
China guy enters.
China guy: 死了不然.
Goku: i will not.
China guy takes out a katana. Goku blasts china guy. China guy deflects the blast with his sword. China guy dashes towards goku and swings, Goku dodges.
Goku: You think you can beat me?
China guy: 是.
Goku blasts china guy and he runs away bleeding, Knuckles starts selling towels rapidly.
Knuckles: they are cheap!
Pete pulls out a gun and shoots his feet.
Pete: if I can't walk i'll fly.
Pete flies into the air.
Goku: Where do you think he is now.
Knuckles: We'll never know.
Knuckles starts being a socialist.
Goku’s Kneecap: I am back.
Goku takes his new kneecap and shoves it into his kneecap-less knee, Smacky The Monkey enters.
Pete: OoooH yeaahhh baby (groaning)
Pete eats Smacky the monkey cause he is hungry.
Pete: Oh snap, I need some salt.
Pete leaves to retrieve it.
Goku: We gotta head to the village for food.
The curtains close opening on the village. Goku, and the fisherman enter.
Fisherman: I ain't got no food today, but I got some salt.
Goku: I'll take some brie cheese.
Fisherman: That'll be one bitcoin.
Goku: GREAT! That's the exact amount of money I own!
Fisherman: Gimme the coin or we “might” slice you fingers.
Goku: My guy, Chill.
Goku hands over a bitcoin. Hulk enters.
The Incredible Hulk: Did you hear about last night?
Goku: Only sometimes adventurers fonder the dark depths (An old man with a long past voice)
Curtains close. A desk gets pushed out from behind the curtains. News Host 1 enters. News Host 2 enters. Breaking news music plays.
Host 1: BREAKING NEWS (YELLING)!
The lights start flashing. Host 1 has an epileptic seizure
Host 2: Well ha ha. He IS from Florida.
Laugh track plays.
Host 1: That's all for today! See you next time!!!
Curtains close than open to a darkly lit stage, KatB320, Abraham Lincoln, Bambie_G, Backup Singer1 and 2 enter.
Bambie_G: Brothers, I have come here today to sing the song of the holy way. Thou shalt never disrespect the one true living man.
Abraham Lincoln: I came here to eat not to listen. I would not approve.
Kat-B320: i approve.
` BambiG_exe starts rapping.
Eyy i smack people, Put cheese in the tree hole, Leprechauns nose as sharp as an icicle.
Bambie_G and singers exit, A cult enters.
The Cult Members: WE ARE HERE TO COLLECT OUR NEW MEMBER!
Cultist: I WILL CHOSE ON THE COUNT OF THE THREE Bushes!!
Cult Members: CHOOSE CHOOSE CHOOSE CHOOSE CHOOSE!!!
Cultist: I HAVE CHOSEN THE FORTUNATE PERSON!!! BOW BEFORE ME OR PERRISH!!!
Cult: I'm only here because this play has to be slightly normal for my editors.
Abraham Lincoln decides he is a terrible character and evaporates.
Kat-B320: sigh He was a good son. But things do happen. Kat-B320 falls to the ground and dies. David Dobrick’s body is thrown onto the stage, Goku kills all remaining people other than fishermen, Anime cosplayer enters. Wearing a naruto costume.
Cosplayer: OH YEAH I LOVE NARUTO!
/crunchedspine//
Goku: why are you dressed up as me.
Cosplayer: I love you.
Goku: You come with us now.
The curtains close.
Curtains Open revealing a church. The Pope, Goku, knuckles, Dentist, pete, and cosplayer all come into scene. They all stare at a selected person from the audience (Even when speaking).
Pope: I am the pope.
Pope: I am christian.
Goku: without a doubt I do believe that ( Speaking while Pope is talking )
Sign Holder runs across the stage holding a sign that says “Ling has joined the game”. Ling enters.
Ling: I am Ling, you can trust me.
Ling bombs the stage.
Dentist: TEETH TIME! (Screaming as loud as possible (With microphone at maximum volume.)
Dentist puts rubber bands in his teeth and chokes to death on them, Lagoona blue enters.
Lagoona: SLAP ME NOW!
Cosplayer pulls out a staff with a blue gem at the top Cosplayer blasts lagoona with 500 megahertz of something, Goku has a divorce with his dad.
Goku: Why?
Goku blasts lagoona killing her. Staples start falling from the air. A math guy enters.
Math guy: division.
Goku: Its like me and my family.
Math guy: Who are you?
Goku: I am goku.
Goku: Oh my.
An old grandma comes in holding cookies.
Old grandma: I like this.
Knuckles: Let me have a tasty munchy!
Knuckles jumps into math guy killing him. Math Guy dies, Ash reanimates.
Ash: I feel it so good.
Ash has a seizure and dies the set turns dark as every character goes on the stage and start muttering as nazi elmo arises from the crowd raised up on a chair. everything freezes. A light hones in on an old man in the corner.
Old man: And that's the story of my bar mitzvah.
Lights fade music starts as the actors take a bow and exit in various directions around the theatre.
Pete's last name decides its nuvlegiemer
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My Ethereum Prediction From 2017. Still Think I was Wrong?

Link to the original post is at the bottom.

Ethereum made one mistake, talking about its future contributions before people could fully perceive them. for anyone that believes ethereum is undervalued it is my opinion you cannot comprehend abstract ideas or conceptualize what ehtereum and blockchain technology actually is.
cryptocurrencies as a digital asset are cool, fun to play with and not typically a bad investment as they are based off the value of bitcoin.
bitcoin as a form of currency has its place and will more than likely ( by means of Litecoin ) aquire a 50 billion dollar market share of cross border money transfer services current rates require 10%+ of the sent value. litecoin does this for about 1%-10% of that. (0.01%-1% and in actuality less in most cases ) divide 84 million coins (max available at production end) by 500 billion (yearly cross border money transfers) roughly $4500 per coin is the minimum value of each coin to cover just one year of money transfers. rest assured it will be higher.
ethereum is efficiency , it is balance, equality, cooperation, innovation, security, and accountability. Ethereum is progress in the name of the greater good of all mankind not just the elite. Ethereum is a social Democracy
all of this sounds nice .... which is what Ethereum promises. people need proof before investing. and that is why you will be just a moment to late. because once it's a sure thing everyone will be investing.
blockchain technology is the real use of digital assets. imagine the following, all media content can be easily published on the blockchain providing two advantages, instant alert to its previous creation if applicable (through the entire database being accessible for instant search and comparison of all published media ) instant encryption ensuring piracy is lessened ( future application software will not be downloadable its code will exist in the ethereum "cloud based" network) the media can be viewed, shared, or done with as is desired, but only to the limits permitted by its creator and only when accessed through a supported ethereum network affiliate using ethereums "Token" to powe rthe software allowing the creator of the content to share their creation. furthermore the creator is capable of issuing their own proprietary tokens that allow them to essentially grant access to their creation to anyone in posession of their "token"
The reason that you cannot comprehend Ethereum is the same reason your parents dont understand bitcoin, why your grandma will never comprehend the internet, why her mother doubted electricity, and her mother didnt see how coal could move a 50 ton train. that reason ? you are all just one generation behind in respect to grasping the concept, for which you have nothing to base its technology off of Ethereum is the next step in innovation. we all wondered what form the next leap in progress would take every great leap in technology is not recognized immediately but when initiated they cannot be stopped. the chain cannot be stopped it just moves forward. building on every advancement that comes before it.
whatare these apps ?.....
medical information will be on ethereum network.... the entire medical database of the world will be connected. acting as a living network updated instantaneously patients symptoms will have quantifiable values, vital statistics will be available for every patient that has ever had the symptoms that any given patient comes in with. by inputting the data of a patient the network uses event related probability to calculate a given set of all possible cases where the data matched with other patients ( millions of variables are considered in an instant.) to diagnose and treat patients according to the most succesful course of action as time goes on after years of trial and error the data will eventually reach a near 100% success rate. faster than we ever thought possible.
Television. cable will end see my remaining thoughts down below for why. netflix style content will replace it. tokens will be distributed. by movie producers meaning a handful of affiliates have access to the rights to distribute them. and netflix will require you to buy its token to have access.
pandora style radio tokens
gps tokens,
but why ?
by making specific tokens account for specific services we can prevent inflation. we also give a value to our money supply. remember when we had money backed by gold ? a dollar could be exchanged for its value in gold. well thats your answer. we have returned to a barter system where i can trade my own services for your services or a future promise that you can at any time redeem said token for my service, or trade for other services. ultimately our money can be thought of as bitcoin and the gold is all other coins. fiat or at least a hard money currency will always exist although two things will occur because of that. people will not be as likely to keep large amounts of money outside of the system as it will depreciate. in most cases over long periods of time. take 10 dollars out for a year and when you come back to buy the equivelent in bitcoin you will likely receive less than if it stayd in the system. where as hard currency versions of bitcoin will retain their value. that theory should hold until 2041 when all coins have been mined and by that time i would bet everyone has jumpedon board. and global currencies will have traded in their fiatmoney to make huge gains from the appreciation of bitcoin integration. i believe bitcoin will be more than an investment it is a replacement as well as a return to the gold standard.
if my outlook holds true then wewill all get an identity token. with that token you can vote on everything from what to spend the pto funds on to what roads need to be built in your city to whether that 150 million dollars should go towards researching the effects of mustard gas on purple monkeys or if it might be better served providing 2 and a half million children with water that hasnt been filled with biological waste. or maybe to give power to 20 million human beings that have lived their entire life without it.
we will have a global currency (bitcoin) and all goods and services will add to its overall marketcap. one services sucess adds to the value of all services. if you do roofing in the the summer your toens will be more valuable. if people cant afford your service then they can contribute to the mining of that service if you allow it. if yoou want to support a cause like funding research on autism then you can go and buy their coin. their service is to find a cure and if its important to people then they will continue to do so. if it is meaningless we as a society will not buy their coin and they will have to find a new job, or keep it as a hobby. either way its not up to a group of people that find it unnecessary it is the decision of the entire world as a collective entity.
many will read what i am about to say and it will cause everything i have said to be no longer looked at as credible. for this i am sorry that you are unable to think of anyone in this world but yourself, and it is people like you that have brought us to this point. socialism always failed in the worlds eyes as did communism. on paper the greatest civilization and its structure are ones in which people work together and do not worry about accumulating wealth in order to live in excess. the wealth is distributed equally, some positions which are harder to fill or require more skills will in the end offer higher pay for their tokens but only because there will be a supply and demand effect created due to its nature of less people being capable of supplying that service/good. on the flip side i believe that by the same token certain positions will ultimately demand a far higher pay. do you want to clean shit out of a porta potty ? probably not so when you need someone else to do it guess what you are going to pay that guy/girl exactly what it costs to have someone do it or you can do it yourself either way supply and demand dictates the value and the most agreed upon value between the provider and the consumer will prevail.




Card

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Electroneum and Who is Richard Ells? My 1-on-1.

Earlier this week, during the 2018 BCI Summit in New York, I had the pleasure and honor of meeting and speaking with Richard Ells. It is not the same as watching someone on the screen I assure you. After exchanging formalities and introductions I looked into his eyes and I knew: “He's the kind of guy you would just want to do Business with.” And now I will tell you why.
I had several conversations with Mr. Ells throughout the course of The Summit and he did not disappoint, even when asked difficult questions. Richard Ells is a very hard-working individual working 7 days a week and firing on all cylinders. He has dedicated himself to this project and to the Electroneum community, so next time you want to ask the silly question or post a negative comment please think twice. Mr. Ells is working around the clock trying to deliver everything that he said he would (especially and even during the times of extreme pressure).
Here is what I saw in DirectoCEO Richard Ells; who he really is, and why I believe he can and will make Electroneum a successful project. Blockchain, cryptocurrency, and decentralized economies are changing the way humanity interacts with the world. We are talking about a change on a huge scale. Being involved in the crypto space can be overwhelming at times. Although crypto trading can be fun and enjoyable, having a healthy and balanced lifestyle is very important. In today’s dynamic world of information and misinformation it is hard to distinguish what is real and true and what is not. There are over 1600 cryptocurrencies and more are added everyday, so how can one know which if any are going to be here in 5 years? Due diligence alone is no longer going to cut it, you have to go out and meet the people/person behind the project. Only then can you be certain that you have made a sound decision based on your own research. I have been involved in crypto projects for a while; finding the diamonds in the rough is not an easy task. Knowing what we know today, many of you would love to go back in time and get in BTC or ETH when they were just starting.
Electroneum is your most likely opportunity to be part of a project that has as much potential, if not more, as the very best BTC. I just lost half of you there; the half that continue reading will be rewarded. I know it is not enough for me to say Electroneum is one of the most exciting and new projects available today, and during this market correction there is ample opportunity to pick up Electroenum (ETN) at highly discounted rates. So please allow me to explain why I believe Electroneum is THE diamond you are looking for and why Richard Ells is THE Man for the Job.
I have done an extensive research on the project itself but more importantly on the man at the helm – Richard Ells – Director of Electroneum. What separates Mr. Ells from other crypto projects and their teams is important as most people are very skeptical about bitcoin and crypto in general. So what makes him so special? In the world of cryptos you do not have to be the strongest or the fastest: what you need is the ability to take action and execute on your vision with the right amount talent and support, and more importantly passion and motivation. There are few small groups of people that will dispute my finding and question my research, but I assure you that none of them spent any time doing any research, let alone go out and meet one-on-one with Richard Ells. These are the same small disgruntled individuals that spread negative and often false information on the internet about Electroneum and the project itself.
There are millions of companies out there in the world, each and every one of them is run by a group of individuals, CEOs, and Board of Directors. What makes Richard an excellent Director is that he is a calculated risk taker who takes action, ready to dive deep into the future of uncertainty. The cryptosphere certainly has its fair share of fear, uncertainty, and doubt (FUD). But not all risk takers are successful entrepreneurs. Richard Ells is a successful business owner willing to risk his name, time and money on the unknowns. I learned he also keeps resources and he plans ahead, keeping plenty of reserves for dealing with the unforeseen. Let me be perfectly clear: Richard Ells has already taken measures so that Electroneum is fully prepared for the regulatory changing landscape in the event major changes should occur.
When evaluating risk, a successful person like Richard Ells will ask if the risk is worth the cost of his career, his name, time, family and money. His intense focus on and faith in the Electroneum project may be misconstrued as stubbornness. I can tell you he is 100% dedicated and committed to the success of Electroenum, often working 7 days a week clocking nearly 100 hours, to the point where his eyes are so red and puffy that he can no longer see (I’m not making this up, this is literally how hard the gentleman works).
One might ask how can I be so sure that Richard Ells and Electroneum will succeed, well the honest answer is it’s impossible to know. If we knew all the answers to the future we would not be here right now. Analyzing and understanding the potential of a project in the crypto world can be both tricky and frustrating. There are no quick and dirty methods of analysis that can forecast or spell out the future of Electroneum. There are however some parameters that can help you understand where the project is most likely to go and how to gauge if the coin is a good potential investment. Some understanding of the crypto market is always better than no understanding which is unfortunately often the case in today’s world. The media have been painting a negative picture all around bitcoin and most other crypto projects, so how can you tell if this is the one? Mass Adoption, Patent Pending - Instant Cryptocurrency Payments - and Micro Subscription Payments are just a few reasons why Electroneum is THE coin that may turn this market upside down flip the script on this space, paving the way for mass adoption.
Richard Ells has the business plan, the backbone of any serious company, and he has the auxiliary plan and contingencies in place in order to prevent the unthinkable. This plan is about building a business from scratch while managing limited resources including time, money and personal relationships. Trying to plan for everything and having a ready solution in place for all possible issues and scenarios is not possible. Electroneum had experienced some hiccups along the way, and every time it has risen like a phoenix and pushed forward. Electroneum will continue to push forward, paving the way and becoming successful because Richard Ells is NOT going after the 1% that are in crypto today; he is going after the 99% who are not involved at all.
The road to Mass Adoption will not be an easy journey and it will not be a parabolic shot to the moon. If you have jumped into the Electroneum with unrealistic expectations because you have watched a few videos, hoping for overnight 1000x returns and instantly becoming a millionaire, then you have not done your due diligence and you can only blame yourself not Richard Ells or Electroneum. Predicting cryptocurrency prices is a fool’s errand and there is no algorithm or a computer that can accurately predict anything in the crypto world. Electroneum is no different, it follows certain standards like Bitcoin Standard due to pairing on exchanges. This however will soon change as the framework for new regulation is being explored every day, and we can further expect to see this landscape change as the SEC and other regulatory agencies in the world begin regulating the buying and selling of cryptocurrencies in very real ways.
There are many companies in the world that have been involved in “Instant Payments” but not Crypto Instant Payments. Richard Ells and Electroneum have created something that didn't already exist, patented it globally (their patent covers all cryptocurrencies and even allows Electroneum to do instant payments with other cryptos), and thereby significantly improved an existing product after experiencing frustration with the way it worked. This week at The Summit Electronuem demonstrated the instant payment system in action – it was impressive. In about 2 weeks, on July 1st, Electroneum is opening their vendor application for vendors to start accepting instant Electroneum (ETN) in a live environment. Following this period the general release will commence! Remaining unaware of changing market needs, competitor moves and other external factors can cause even great products to fail. Visa and Mastercard have been hard at work to create a system of Instant Payments and to shorten your time at the terminal (they even stopped asking for your signature).
Electroneum’s Crypto Instant Payment system introduced by Richard Ells at the 2018 BCI Summit in New York “Is a groundbreaking technology in the cryptocurrency industry that bridges the gap between blockchain’s decentralization and the modern world’s fast payment technology.” Mass Adoption will revolutionize the world of crypto use and spending and allow the poor and the unbanked in of the Developing World to enter this ecosystem. “Price Waterhouse Coopers predicts this market to be as large as USD 3 trillion.” There are others that say 20 trillion.
If you are looking to enter the crypto market, there is no better time than now as crypto is still a baby. Large corporations, the general public, governments and investment firms are all watching this space closely and only dipping their toes into this market. Because of Richard Ells’ work ethic, his ability to take action swiftly, his dedicated team, and the massive developments already underway – I believe Electroneum stands to become THE crypto for the people.
I’ll leave you with this as you think about the crypto space:
The lion is the king of the jungle; the king of his domain. The lion is not the tallest, not the largest, not the heaviest, and not the smartest nor the most intelligent animal in the jungle. Yet, the lion is the king of the jungle. What makes all these animals respect the lion so much? He takes action and executes on the way he thinks.
M.
https://preview.redd.it/hqgbpszql2411.jpg?width=960&format=pjpg&auto=webp&s=1bb4f62c05bd4407e98302eecfeb92f6069d573e
submitted by M-Systems to Electroneum [link] [comments]

Electroneum (ETN) and Who is Richard Ells? My 1-on-1.

Electroneum (ETN) and Who is Richard Ells? My 1-on-1.
Hello Crypto Experts !
I know I am probably going to get flamed by posting this here, but before you call me a name or point a finger at the price of this coin and tell me it is a "s..t coin" please consider the current market conditions and the value of all cryptos including the top 20. I believe in actions and going out into the field yourself, meeting the people behind the projects is the only way to know for sure. What ever the coin or project you support try to meet the team if it is possible, if there is no team or person behind it then you know what sort of coin/project you are dealing with. Ladies and Gents - I hope you find something useful in this write-up. Stay open minded folks ! This coin is 9 months old give it some time, look at all the BTC madness taking place right now.
Few weeks ago, during the 2018 BCI Summit in New York, I had the pleasure and honor of meeting and speaking with Richard Ells President/CEO of Electroneum (ETN). It is not the same as watching someone on the screen I assure you. After exchanging formalities and introductions I looked into his eyes and I knew: “He's the kind of guy you would just want to do Business with.” And now I will tell you why.
I had several conversations with Mr. Ells throughout the course of The Summit and he did not disappoint, even when asked difficult questions. Richard Ells is a very hard-working individual working 7 days a week and firing on all cylinders. He has dedicated himself to this project and to the Electroneum community, so next time you want to ask the silly question or post a negative comment please think twice. Mr. Ells is working around the clock trying to deliver everything that he said he would (especially and even during the times of extreme pressure).
Here is what I saw in DirectoCEO Richard Ells; who he really is, and why I believe he can and will make Electroneum a successful project. Blockchain, cryptocurrency, and decentralized economies are changing the way humanity interacts with the world. We are talking about a change on a huge scale. Being involved in the crypto space can be overwhelming at times. Although crypto trading can be fun and enjoyable, having a healthy and balanced lifestyle is very important. In today’s dynamic world of information and misinformation it is hard to distinguish what is real and true and what is not. There are over 1600 cryptocurrencies and more are added everyday, so how can one know which if any are going to be here in 5 years? Due diligence alone is no longer going to cut it, you have to go out and meet the people/person behind the project. Only then can you be certain that you have made a sound decision based on your own research. I have been involved in crypto projects for a while; finding the diamonds in the rough is not an easy task. Knowing what we know today, many of you would love to go back in time and get in BTC or ETH when they were just starting.
Electroneum is your most likely opportunity to be part of a project that has as much potential, if not more, as the very best BTC. I just lost half of you there; the half that continue reading will be rewarded. I know it is not enough for me to say Electroneum is one of the most exciting and new projects available today, and during this market correction there is ample opportunity to pick up Electroenum (ETN) at highly discounted rates. So please allow me to explain why I believe Electroneum is THE diamond you are looking for and why Richard Ells is THE Man for the Job.
I have done an extensive research on the project itself but more importantly on the man at the helm – Richard Ells – Director of Electroneum. What separates Mr. Ells from other crypto projects and their teams is important as most people are very skeptical about bitcoin and crypto in general. So what makes him so special? In the world of cryptos you do not have to be the strongest or the fastest: what you need is the ability to take action and execute on your vision with the right amount talent and support, and more importantly passion and motivation. There are few small groups of people that will dispute my finding and question my research, but I assure you that none of them spent any time doing any research, let alone go out and meet one-on-one with Richard Ells. These are the same small disgruntled individuals that spread negative and often false information on the internet about Electroneum and the project itself.
There are millions of companies out there in the world, each and every one of them is run by a group of individuals, CEOs, and Board of Directors. What makes Richard an excellent Director is that he is a calculated risk taker who takes action, ready to dive deep into the future of uncertainty. The cryptosphere certainly has its fair share of fear, uncertainty, and doubt (FUD). But not all risk takers are successful entrepreneurs. Richard Ells is a successful business owner willing to risk his name, time and money on the unknowns. I learned he also keeps resources and he plans ahead, keeping plenty of reserves for dealing with the unforeseen. Let me be perfectly clear: Richard Ells has already taken measures so that Electroneum is fully prepared for the regulatory changing landscape in the event major changes should occur.
When evaluating risk, a successful person like Richard Ells will ask if the risk is worth the cost of his career, his name, time, family and money. His intense focus on and faith in the Electroneum project may be misconstrued as stubbornness. I can tell you he is 100% dedicated and committed to the success of Electroenum, often working 7 days a week clocking nearly 100 hours, to the point where his eyes are so red and puffy that he can no longer see (I’m not making this up, this is literally how hard the gentleman works).
One might ask how can I be so sure that Richard Ells and Electroneum will succeed, well the honest answer is it’s impossible to know. If we knew all the answers to the future we would not be here right now. Analyzing and understanding the potential of a project in the crypto world can be both tricky and frustrating. There are no quick and dirty methods of analysis that can forecast or spell out the future of Electroneum. There are however some parameters that can help you understand where the project is most likely to go and how to gauge if the coin is a good potential investment. Some understanding of the crypto market is always better than no understanding which is unfortunately often the case in today’s world. The media have been painting a negative picture all around bitcoin and most other crypto projects, so how can you tell if this is the one? Mass Adoption, Patent Pending - Instant Cryptocurrency Payments - and Micro Subscription Payments are just a few reasons why Electroneum is THE coin that may turn this market upside down flip the script on this space, paving the way for mass adoption.
For those of you who are interested in Instant Payments you can read more details here as it was just released:
https://twitter.com/electroneum/status/1013184289721212929
Richard Ells has the business plan, the backbone of any serious company, and he has the auxiliary plan and contingencies in place in order to prevent the unthinkable. This plan is about building a business from scratch while managing limited resources including time, money and personal relationships. Trying to plan for everything and having a ready solution in place for all possible issues and scenarios is not possible. Electroneum had experienced some hiccups along the way, and every time it has risen like a phoenix and pushed forward. Electroneum will continue to push forward, paving the way and becoming successful because Richard Ells is NOT going after the 1% that are in crypto today; he is going after the 99% who are not involved at all.
The road to Mass Adoption will not be an easy journey and it will not be a parabolic shot to the moon. If you have jumped into the Electroneum with unrealistic expectations because you have watched a few videos, hoping for overnight 1000x returns and instantly becoming a millionaire, then you have not done your due diligence and you can only blame yourself not Richard Ells or Electroneum. Predicting cryptocurrency prices is a fool’s errand and there is no algorithm or a computer that can accurately predict anything in the crypto world. Electroneum is no different, it follows certain standards like Bitcoin Standard due to pairing on exchanges. This however will soon change as the framework for new regulation is being explored every day, and we can further expect to see this landscape change as the SEC and other regulatory agencies in the world begin regulating the buying and selling of cryptocurrencies in very real ways.
There are many companies in the world that have been involved in “Instant Payments” but not Crypto Instant Payments. Richard Ells and Electroneum have created something that didn't already exist, patented it globally (their patent covers all cryptocurrencies and even allows Electroneum to do instant payments with other cryptos), and thereby significantly improved an existing product after experiencing frustration with the way it worked. This week at The Summit Electronuem demonstrated the instant payment system in action – it was impressive. In about 2 weeks, on July 1st, Electroneum is opening their vendor application for vendors to start accepting instant Electroneum (ETN) in a live environment. Following this period the general release will commence! Remaining unaware of changing market needs, competitor moves and other external factors can cause even great products to fail. Visa and Mastercard have been hard at work to create a system of Instant Payments and to shorten your time at the terminal (they even stopped asking for your signature).
Electroneum’s Crypto Instant Payment system introduced by Richard Ells at the 2018 BCI Summit in New York “Is a groundbreaking technology in the cryptocurrency industry that bridges the gap between blockchain’s decentralization and the modern world’s fast payment technology.” Mass Adoption will revolutionize the world of crypto use and spending and allow the poor and the unbanked in of the Developing World to enter this ecosystem. “Price Waterhouse Coopers predicts this market to be as large as USD 3 trillion.” There are others that say 20 trillion.
If you are looking to enter the crypto market, there is no better time than now as crypto is still a baby. Large corporations, the general public, governments and investment firms are all watching this space closely and only dipping their toes into this market. Because of Richard Ells’ work ethic, his ability to take action swiftly, his dedicated team, and the massive developments already underway – I believe Electroneum stands to become THE crypto for the people.
I’ll leave you with this as you think about the crypto space:
The lion is the king of the jungle; the king of his domain. The lion is not the tallest, not the largest, not the heaviest, and not the smartest nor the most intelligent animal in the jungle. Yet, the lion is the king of the jungle. What makes all these animals respect the lion so much? He takes action and executes on the way he thinks.
I know it is a long read and if you got all the way down here then at least you are still open minded as there many in the cryptospace that will just call me a shill or that I was paid. Well no one paid me a damn thing and I have other coins that I intend to talk about in the same manner 0x, DBC, and few others.
Thanks M.
https://preview.redd.it/7qlgzs4c9d711.jpg?width=960&format=pjpg&auto=webp&s=ca9abcbfc6a9dba9554514bbaa146df877dc5bce
submitted by M-Systems to CryptoCurrency [link] [comments]

BIP39 Words list

Nothing special, just a copy of the current list (for the future) of what can be found at https://github.com/bitcoin/bips/blob/mastebip-0039/english.txt
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[Table] IAmA: I sell on ebay for a living. Ask me anything.

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Date: 2013-08-22
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Questions Answers
What's the weirdest thing you've sold? How many hours would you say you work per week? What's the most valuable thing you've sold? Weirdest, that's hard to say since I collect oddities myself. Vintage jock straps would make the list. Link to imgur.com Link to imgur.com
Why were these links already purple for me? They were on the front page of WTF a few weeks back so maybe you looked at them back then.
Annual gross sales? Net profit? Where do you buy your stuff from? $110,000, $60,000 and I buy mostly at auction.
Does it get exhausting ALWAYS having to look for new product? Sometimes. That's honestly the easiest part though. The shipping is the biggest pain.
What's the shipping process like, especially on your bigger items? And how do you deal with having to potentially ship multiple big items around the same time? Sometimes I will spend an entire day just packaging. I bubble wrap my item and then put an two inch layer of foam cubes all the way around. Sometimes I will have to re-size a box or two.
What was the Black Keys experience like? And does it provide a steady income or does it come in spurts instead? It's all about averages. I sold the Black Keys a very rare drum machine. I shipped it to their studio but never talked to any of them.
How did you know it was them? One of their names was on the account and it was being shipped to the studio where they were recording in Nashville.
Have you ever been dicked by PayPal or ebay? Oh yea.
Elaborate … It's happened more than once. I had one customer who eBay allowed to return a package that they had accidentally run over with their car. The customer claimed that the post office had delivered it that way but I talked to their postmaster who said that was not the case.
That is not that bad compared to some stuff I have heard. This one guy sold a tape machine for >$5000 and the buyer claimed he never got it, and then the buyer got a full refund without any argument. I've had customers try to rip me off for more but I won the cases.
Do you have a lawyer or something, or you just spend hours on the phone arguing? On occasion I've been able to point out to them that the buyer is leaving a large amount of negative feedback which indicates fraud. In short though, you have to waist a lot of time on the phone talking to them.
Do you think if eBay where to start accepting bitcoin as a usable currency on their site that you would accept them for your transactions? I doubt it. ebay owns paypal so I think they want to keep as much of the profits as possible.
What sale has been the most special to you and why? I remember one customer who purchased a Christmas ornament from me. They were really excited and thankful because it was one that they had had before their house burned down.
Do you have any advice for people wanting to sell big ticket items ($500+ such as iPads, computers, cameras, etc.)? The last time I sold on ebay, I was scammed out of an iPad. The buyer claimed SNAD, by saying that I sent him and empty iPad box. Of course Paypal sided with him after I appealed the claim. What has been your strategy towards mitigating fraud? That's a hard one. Although in recent years ebay has gotten better at dealing with fraud it is still a pain in the neck to deal with their support team. There is no sure fire way to avoid fraud. Always buy insurance and if you are worried about fraud you can take additional steps like taking video the item working and taking pictures of your packaging process. When you have an issue with fraud also check the buyers feedback and feedback given to see if you can see a history of fraud. This can help when talking to an ebay rep.
How did you find your niche? I don't have a niche per say. I've found that it is better to have a well rounded knowledge. If you buy enough of any item though you will become more and more familiar with it.
If you had to set a standardised size for italian meatballs, What would be the diameter (in cm) of said meatballs? 2"
What are your primary marketing resources? Search marketing? FB? Newsletters? Word of mouth? Anything else? How much are your marketing costs? I don't do any marketing of my own. ebay spends a huge amount of money marketing their auctions. I don't do many consignments so it doesn't matter if people know who I am.
But you sell only very niche, special interest items. How do people find your stuff if you don't advertise it? Are there people searching specifically for the book 1639 The Use of The Lord Verulam Viscount English Law Book 17th Century? Not many if any. That's why the key words "English Law Book 17th Century" are in the title. Some items take a long long time to sell. I do sell other items such as cameras and audio equipment that sell much quicker as they have a much broader appeal. I also keep 400-500 items listed because like you said, there aren't many people looking for some of my items.
What's a good week's worth of income for you? About how many hours a day do you work? I try to make a profit of about $1,200 a week. I don't always work the same number of hours but I probably work 40-50.
That[s pretty good I would think that this would take a lot longer like 80-100, good job. Was it way longer at the start until you got 'faster' or always like that. I've only done this full time for 3 years so I had lots of time to practice while I sold part time. I was much slower when I started but luckily I didn't have to do it to make a living at that point.
How old are you? How far do you expect to grow this business? Will you be making six figures next year? What uni did you attend. I am 32. I will not be making six figures next year. I am still a few years away from that. I attended Cincinnati State. My degree is in Graphic Design. I was a graphic designer for 5 years.
Did you start your business out of necessity or out of opportunity? I was 18 when I started. My brother was 16 and we sold as partners. We've always been hustlers so we saw it as a fun opportunity.
Worst thing that happened to you during a sale? How about worst purchase. I once purchased hundreds of brand new shoes of of craigslist with plans of reselling them. Turned out, none of them matched.
Were they supposed to match? If they were what did you do? They were supposed to match but were just in a couple of giant boxes. There wasn't really anything I could do because after I noticed there was no way to find the buyer.
Sucks man. Well maybe someone else got the same shipment except they got the other shoes instead lol. Ha ha, I think they were display shoes from a store.
How bad is paypal to deal with? Terrible if their is an issue. They are getting better though.
What does eBay charge you for each listing? What about PayPal? It depends on what category that you list in. This calculator can help you figure that out Link to www.newlifeauctions.com
Do you have to file taxes in every state with income/franchise taxes? I assume you have a CPA that handles it. No, I only have to file taxes in the state of my residence.
Are you expecting a massive drop when the laws change regarding online sales? No. A large percentage of my customers are fairly wealthy.
Why did you stop graphic designing? It didn't pay enough, my boss was a jerk, and I hated working regular hours.
I'm guessing less than 60k then? Yes, far less. I was worth a lot more but it was a tough market.
How can I get started? Start by selling small things that you have sitting around your house. Don't go big, start small and work your way up.
What if I run out of things to sell? Do I buy things online and sell for a higher $$? Yes.
Any good items to sell for starters? Cameras? furniture? antiques? Stick with what you now best. Do your research on recent ebay sales of the same item to figure out how much you will make.
What kind of auctions do you buy from? Any tips for sellers that you can give us? I buy mostly from estate and consignment auctions. My best tip is research, research, research. When you buy don't be impulsive. Know your market.
Do you have a target market? I always wondered if it would be wise to try to market to a niche on ebay or just put all sorts of things out there. Ebay has gotten so big, it attracts a diverse crowd looking for all kinds of goods. I sell a huge variety of items so my target market varies from item to item. If you have an eBay store you can ad categories so if a person finds one of your items they can easy find other like items that you have for sale. You can also list in your sales that you offer combined shipping to encourage people to buy more than one thing.
Interesting, I've been seriously considering hustling and makin some money by going around to garage sales in my area. You can get some great deals. Once I bought a 5.1 receiver for $5 and then turned around and sold it to a friend for $30. I imagine I could extend that to ebay. If you have some free time and a little extra money I say give it a shot. Plus the hunt can be fun.
Do customers try to scam you ever? Occasionally but it is rare. That happens more with consumer electronics while I deal more with vintage, antique, and business.
Do you list items for sale that you are interested in buying beforehand, to see if you can make profit? No I do not. That's a dangerous game of chicken and violates ebay policy.
Do you pay federal income tax? Has the IRS every given you a hard time? I do. I've not had any issues.
Is it worth it? The commission they take must be ridiculous! How do you protect yourself from fraudulent buyers. I've heard ebay is very buyer biased. You have to calculate the fees when purching things for resale. It it is always worth it for me. Make sure you insure your packages, take lots of pictures, and don't be afraid to block a buyer.
Any tips you'd like to add? I'm a 15yo who does the occasional sell on ebay so would love some! Thanks! :) My tip would be to do your research. Check completed items to figure out what the average sale price of an item is. And if you need to check fees use a fee calculator like this one Link to www.newlifeauctions.com
How much would you take for your 6ft Mid Century Industrial Age Machine Work Bench w/ Cast Iron Legs & 2 Drawers? I think I almost broke my back moving that monster. I'm open to offers. If you picked it up it would be less.
How to you figure out what to charge for shipping ahead of time? Do you ship all items even oversized ones? I use a postal scale to estimate shipping costs. For items over 80lbs you have to use a freight service.
Vague answer. Care to elaborate? Sorry, when you are listing an item you have the choice to either choose flat rate, estimated, or freight. For most items I choose estimated. I weigh the item, ad what I estimate the packing material will weight (it depends on the size but generally a pound or two) enter that information on the form, and ad a handling charge to cover insurance and packing material. For items listed as freight the buyer has to contacted me and I get a quote from my rep at freightquote.com
When is the best day and time to end a auction item? It depends on what you are selling. I would normally try to end on any day but Friday or Saturday, early evening.
What's the largest amount of profit you made from a single sale? Probably $2,000.
How much 'time off' do you give yourself? And what do you do about listings when you're on vacation? Don schedule any to end during that time? I sell mostly store items so when I go out of town I shut down my store sales. I've taken two weeks off this Summer.
Ever made a substantial loss on something? Not more than a few hundred.
Whats the most profitable item youve sold? I once made over 2k off of an accordion.
What's the beat and cheapest place to ship from? Box supplies also? Thank you. I ship using USPS. UPS is generally cheaper for large items. I get a lot of my boxes and supplies from friends and family but when I buy them I use Link to amshipping.com
Where do you store all this stuff? Currently at my house.
Can you explain your process, maybe give us a run down on your workflow? Do you have a minimum ratio you are looking for? How you minimize shipping costs? When you say you buy at auction, does that include ebay? If so, primarily ebay? I start my week by making a list of all of the auctions that I plan on researching. After that it's pretty much just buying, listing, shipping. It's not the same everyday. My profit margin depends on how much has to be invested in the item, estimated time it takes to turn it over, and the difficulty in shipping it. Higher priced items generally have a lower margin of profit. I buy everything from audio equipment to books at auctions. I don't buy to resell on eBay.
I notice you do pretty much everything as a Buy-It-Now/Make Offer -- there's only nine things as an auction listing. Is there a reason for that? In recent years it's been my experience that for most items buy it nows get you the most money. The issue I have is a lot of my items are high dollar, niche items. There may only be a couple of people looking for them so if I sell them at auction I run the risk of them going very cheap.
Also: wifey and I are antique dealers, and so are my in-laws, and our experience, my inlaw's experience, and even what we hear from other dealers is that eBay sales are way, way down for antiques. What do you think you're doing different that keeps the sales coming? I stay on top of buying trends. What people are buying is constantly changing. People in their 30s and 40s are now major buyers while people in their 70s and 80s are dying. Therefore the prices for things from the 1980s are up while things from the 1950s are way down. I don't just buy based on what I was able to sell 5 years ago. I check the current prices.
What method should I use to pay the ebay sellers fee? - Paypal or by Debit? I use paypal which is directly linked to my checking account. That way I if transferred all of my funds out of my paypal it can pull it from my checking. Both Debit and Paypal will essentially work the same way though. The only issue would be if you didn't have any money when the bill was automatically paid.
What is your opinion on the eBay Buyer Protection? Do you ever get buyers who will receive an item, say it was not received as described, try to get a refund, send the item back and then turns out nothing was wrong with the item? Buyer protection is pretty one sided. I had a package sent back once that was "not as described" that was never opened. I've also had people try to work the system for a refund while keeping the item. Luckily though most buyers are honest.
You've said that you mainly get your items from auctions? I've spent a lot of time watching Auction related shows on Discovery but I've never been there myself. I'd like to try acquire an item there and then resell it on ebay? Can I get an interesting product at an auction for around 100 pounds (~155 USD) Can you share some of your auction techniques? Such as how do you know that a particular item you're bidding on will sell at a bigger price? Thanks. I don't buy at storage auctions. Plus those shows are rather scripted and set unrealistic expectations. A lot of estate auctions will have a list of some of the items that will be up for sale that you can get in advance or there will be a preview before the auction starts. Write down the items of interest and then search ebay for those items to see what recent sales have ended at.
I have an old Spirograph set that I'd like to sell on Ebay. Have never done that before, could you tell me how to go about that? Do I have to type in a lot of info, or is it all automatic? I mean, how do I get paid for instance? What do I need to set up? You will have to set up a paypal and an ebay seller account. You will have to type in all of the information yourself. The process from start to finish is too much to type out but they will walk you through it. You will get paid through paypal and then have the option to transfer it to your bank account.
Why are you currently selling women uniform shirts? Why not?
What would you say is your least favorite thing about eBay? And in your opinion, what would be the best thing eBay could change to help benefit the sellers? The high fees. The best fix would be to either lower the fees or to change the way that they deal with buyer complaints.
Do you operate under an official business? If so, what type? I pay taxes under my name. At this point I've not seen the advantages of becoming an LLC.
What do you sell primarily? I sell a lot of antique books and vintage audio equipment.
I'm always looking to expand and branch out. I sell online too. My sales are nothing compared to your sales. My goal is to have a six figure salary before I am thirty, that I have created myself. Last year, I got 1/5th of the way. This year, I look to surpass that. Do you import a lot of goods to resale? I really try to stay away from that. What do your products really include? Do you hate the IRS as much as I do? I buy all of my items locally. And yes, I hate the IRS. I pay them way too much money.
How did you get started? I attended an auction with my mother and my brother when I was 18 and my brother was 16. We have both always been hustlers to some degree and this seemed like a fun way to make some money. We started off dealing mostly in vintage board and video games.
When exporting to place's outside of the US e.g. countries in the EU have you ever been screwed over by the exchange rate or import tax? I have not. Paypal converts foreign currency to USD before it goes into my account. The buyer is responsible for all import taxes.
How do you deal with storage for all of the merchandise, packing materials ect. and do you pack and ship yourself? Any tips on making that a smooth or at least decent experience? I'll admit, I'm not really that good at this. I did purchase another building to put my inventory in but it is not yet ready for the move. I do most of the packaging myself but I do higher some family members from time to time to work for me.
I see on eBay too for a living, but my average sold item is $31, so I have to do a lot more volume. Been using eBay since 1998. How do you feel about the lack of power that sellers have now? Have you ever been scammed by a buyer taking advantage of the "Buyer Protection Program"? The buyer does have too much power. I agree. Fortunately ebay has recently taken steps towards fixing that. They aren't there yet though. It doesn't happen often but I have been scammed on a couple occasions. I have also won cases as well.
Does the international shipping charges depend on what country you're shipping to, or is it a flat rate or something? It varies by country. There are also different shipping restrictions for each country.
Do you use terapeak? How do you SEO your titles and listings? I do not. I generally search complete items and see what key words were used to fetch the highest price. Sometimes some creative thinking works just as well.
How much time do you spend working daily? Are your hours predictable? I probably average 8. Its not real predictable as it is determined but where I am buying from that day and what inventory I have to list and ship.
Would you trust people selling pills on eBay? Do you think a lot of them are fake? I wasn't ware that there were people selling pills on ebay. I would look at their feedback to see if they have a history of satisfied customers.
Do you use flat rate boxes or plain boxes? What's the cheapest way to ship non-media items? I use plain boxes. Flat rate priority can be a savings if you are either mailing heavy smaller items or you ship a lot to far away places.
What percent profit would you say you have on each item you sell? There is no standard. It varies from 25% to 200,000%
Funny that this is an AMA right now - this is my SO's store. Link to stores.ebay.com. Within the past few weeks he has been begging me to quit my full time job and work with him and I'm very tempted, your thoughts after quitting? Was it a good decision? It's certainly not for everyone but I've never regretted it.
Do you have health insurance? No.
Any advice for people who would want to sell manufactured items, i.e. cell phone cases, how do you go about starting this up? Where do you find people to produce items for you? This is outside my area of expertise. Sorry.
What freight service do you use? I use freightquote.com
What made you start selling on eBay for a living? I sold on ebay on the side for 12 years. I was a graphic designer and I just got tired of working for someone that I didn't like for pay that wasn't what it should be. So I quit and started working full time selling on ebay.
If you were to sell products that are fairly commonplace, is there any way to get your listing to consistently appear higher in search results, or do you list so many that you get more people coming to your channel? Yes, you have to earn the "top rated seller" status. When you search by "best match" it puts the sellers with a "top rated seller" status at the top. Link to pages.ebay.com
What was the most valuable/unique thing you've ever sold? Most valuable would be a set of coins that I sold for $5,600. Most unique is a hard one. I sold quite a few screen used props from the movie Ben Hur which were pretty unique.
Ever thought of opening a pawn shop? Not sure what the marketplace is where you live, but you could do both (ebay/physical store). I prefer to sell my own inventory. Dealing with cosigners ads an additional degree of difficulty and aggravation. Plus it would require me to keep business hours.
How do you do all the accounting? This may be the first year I may actually hit the point where I get sent a tax form, and I'm wondering what I should be doing in the mean time to prepare for tax season. Thanks! I use turbo tax. I keep my records using a simple spread sheet. It is very basic with line items for total month sales, fees, and a breakdown of purchases.
Congrats on your sales. Your descriptions are very sparse. Do you feel descriptions are overrated? You do not have any info on shipping costs, payment parameters such as when payment is due, etc. Thanks & continued success. If an item isn't unique then a long description isn't normally needed. Most people find the item because that is specifically what they are searching for.
Do you remember what was so special about the coins? I collect coins a little and I'm just curious It was a proof set. I can't remember the year. There was one gold coin and the rest were silver. The rare one was actually the silver dollar because it was only produced for that set.
Have you ever considered buying your own Online-Store to save the ebay and paypal fees? What is your opinion on these? A lot of my items are so niche that it would be very difficult to attract the right buyers with my own store.
Are you able to hookup Google Analytics, to see your customer demographics? Not sure if ebay is that robust for the users... I am not. ebay has some analytic but they are geared more towards the items that you've sold than the buyers themselves.
That's really interesting. You don't happen to have a picture, do you? Not that I could easily located and I can't for the life of me remember what year the proof set was. I only made $400 off of the purchase but I knew that I could flip it and make that money within 2 weeks so it was still a good buy.
Have you ever tries etsy? I have not. esty tends to work better for hand made items. At least that's been my experience.
Ever consider getting into Amazon with more predictable products and using FBA to save yourself some trouble? I also sell on Amazon. I've found that Amazon is good for selling more mainstream items.
What is the most overpriced thing you have ever bought? The most I've ever lost is maybe $300. The most I've spent on a single item is 5k.
How many hours would you say you work a week? 40-50. Sometimes more, some less.
Do you find it worth it? Yes.
I bet your house is very interesting. Does it smell a bit dusty though? My house is very interesting. I collect oddities and art.
Do you still ship to Italy ? :p. Some things, like Ben Hur props.
How's Steve Carrel? I feel like there is a joke in here somewhere but since I am oblivious to it I'm just going to say, "he is doing well but his mom is a bit under the weather."
Can you approximate your yearly income? 60k.
Use registered post for anything valuable. Signature required on delivery. USPS requires signature confirmation for anything insured for over $200.
OP did ... Yep, the answer is of course me. My more recent purchases which are not pictured are two WWII practice bombs and a piece of one of the popes robes.
You can see the fees on eBay itself. They're ridiculous. I believe it's 9% of the final value fee and PayPal is around 3% or so. There's a few categories that have flat rate listings I believe, like autos. They also cut into your shipping costs as well. They are category specific and vary from 4-9% on ebay. 10% would be a good average to use.
Why is it people with 0 feed back keep buying my shit but never pay. You can change your settings to not allow 0 feedback buyers to bid.
I just wanted to tell you that you have a typo in the description of your Industrial Age Work Bench. you wrote "Pleas ask all questions before purchasing" ;) I'll have to fix that. It's certainly not my fist typo ha ha.
Hello, I was wondering how far from your house do you usually go to find this stuff, and also, what the luckiest find you ever had was. Thanks. Not normally more than a 45 minute drive. I once found a book on a shelf at a second hand store that was 29 cents that I resold for $250. As far as luck goes I was lucky to even see it at the store.
Last updated: 2013-08-26 18:57 UTC
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