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How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
I emailed them and then pasted it here so sorry if its a bit clumped together. Cant get the grasp of how reddit breaks up sentances 8-()
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to ethereum [link] [comments]

Merged Mining: Analysis of Effects and Implications

Date: 2017-08-24
Author(s): Alexei Zamyatin, Edgar Weippl

Link to Paper


Abstract
Merged mining refers to the concept of mining more than one cryptocurrency without necessitating additional proof-of-work effort. Merged mining was introduced in 2011 as a boostrapping mechanism for new cryptocurrencies and countermeasures against the fragmentation of mining power across competing systems. Although merged mining has already been adopted by a number of cryptocurrencies, to this date little is known about the effects and implications.
In this thesis, we shed light on this topic area by performing a comprehensive analysis of merged mining in practice. As part of this analysis, we present a block attribution scheme for mining pools to assist in the evaluation of mining centralization. Our findings disclose that mining pools in merge-mined cryptocurrencies have operated at the edge of, and even beyond, the security guarantees offered by the underlying Nakamoto consensus for extended periods. We discuss the implications and security considerations for these cryptocurrencies and the mining ecosystem as a whole, and link our findings to the intended effects of merged mining.

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submitted by dj-gutz to myrXiv [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to Futurology [link] [comments]

If the Classic fork happens, how is development going to continue if Core devs get fed up?

It seems the R3CEV plan is going right as expected, they crush the price, and now they offer Classic as a cop out for all the uninformed newbies (majority) and bro-coders that want a block size increase, whatever increase at this point, they just want to see something bigger than 1MB just for the sake of it, without looking at the details.
Bigger is better, lower fees are better, easy to cater for the masses, which don't grasp the consequences. https://www.reddit.com/Bitcoin/comments/41cpil/former_employee_hired_by_competitor_claims_shop/cz1l2pj
"Let's have a shop with free meals forever and pretend it's sustainable without any tradeoffs!".
They just don't get Bitcoin is supposed to emulate Tor, not Paypal. The Paypal part is done through a layer, so if it layer (LN) f*cks up someday, we still have the super decentralized core where 1 person can still be 1 node, so Blythe Masters and their friends can't coerce it and bribe the datacenter-running nodes into doing whatever it's on their agendas.
We are going towards a cashless society, and their nightmare is that a decentralized alternative to move money exists. The further we go from the 1 person = 1 node scheme, the nearer they are from reaching their goal.
This is something casuals tend not to understand, for some reason. I guess they can't cope with the fact Bitcoin can't scale globally without an additional layer (LN), so they think "well f*ck it, I want my coffee in the blockchain without fees, I don't care about the consequences, it's all FUD!!"
Anyway, as we know, SegWit would be enough to keep progressing without the necessity of the absurd risk of raising the block size which requires a hardfork (inb4 Erik Voorhees lecturing us into how it's better to hard fork even if it's riskier because "SegWit is too complex" -this is exactly how a bro-coder looks like), until we have LN and sidechains deployed, which is what they absolutely FEAR the most, since when this happens, it's pretty much game over for them, that's why they are pulling desperate moves such as the Mike Hearn's ragequit on one of the biggest newspapers in the world (not before he and his friends sold their coins), then right on time, they offer Classic as a savior, it's XTrojan horse all over again, but more subtle.
Here's my question: There's not even code released for Classic yet, but it's clear they are going to copy-paste Core and raise the block size while claiming they are better. As we also know, the raw talent is all on Core's dev team, as demonstrated by 7+ years and endless BIPs. How are they going to keep copy-pasting further updates if Core devs give up at some point? We would have a bunch of amateurs trying to run Bitcoin by themselves, since I assume most Core devs would give up on the idea of an increasingly node-centralized Bitcoin which is the ultimate goal of those that are trying to derail Core's roadmap. There would be no more Peter Wuilles and Greg Maxwells doing miracles to keep nodes decentralized while increasing privacy. It would be as if Litecoin didn't had Bitcoin to copy-paste from.
Let's just hope the disaster doesn't happen but if it happens, I wonder how the Core dev team will deal with. I just can't imagine how frustrating it is to spend so much time on this, to get some idiots copy-pasting your stuff and changing a node-centralizing variable and then call it a better software, then keep developing Core as they routinely copy-paste every update you release on their agenda-driven fork. Can you f*king believe it?
I just can't stand how obvious the fact that this is just a power grab backed by developers and companies from Blockchain Alliance trying to decrease the influence of cypherpunks. This is the biggest cold-war ever, and you don't even know it.
submitted by ICantFkingBelieveIt to Bitcoin [link] [comments]

Tokens, PoS, Ether and Security

Tim Swanson from R3CEV has published a very interesting document on the 18th of November: http://r3cev.com/blog/2015/11/18/tim-swanson-paper-watermarked-tokens
The main concern of that document seems to be the fact that if one starts using tokens on a blockchain (like Bitcoin) and the value of the tokens grows beyond certain threshold, then the blockchain does not provide an adequate security for such tokens anymore. For example - one would not record Apple stock ownership on Bitcoin, because it would create such a big incentive to attack.
It is quite difficult to quantify security of any Proof Of Work blockchain, because it is not very clear how much is actually being spent on securing it - most of work goes unrecorded and can only be guessed by relying on assumed probabilistic properties of the mining process (e.g. Poisson process)
Proof of Stake, with all its controversies, allows for a more accurate estimation of how much the stakeholder have to lose from an unsuccessful attempt to attack.
However, Tim Swanson's argument about value of the tokens versus security of the network, applies here too. Logical conclusion would be to require that the value of ETH stakes is proportional to the total value of tokens. To satisfy such requirement, there must be some known mechanism, similar to what underlies stable crypto-currencies.
If we assume that paying transaction fees under Casper Proof of Stake is possible in any currency or asset (https://github.com/ethereum/EIPs/issues/28), but the only thing accepted for stakes is ETH, then we can view ETH as an interest-rate product - it yields certain income to the owner, proportional to the amount owned. If ETH has only that function, then one can try to value it as it is usually done for financial assets - by taking all the income 'chunks' it produces, discounting it to the present value and summing it all up. Because of discounting (future value of money + uncertainty discount), income too far in the future is regarded as vanishingly small, and the series of discounted incomes converges.
The above valuation means that anticipated increase in the future transaction fees, or their certainty, will increase the value of ETH. It seems like the only straightforward mechanism of ETH price formation in this scenario. It follows that to achieve an adequate security for tokens transacted over the Ethereum blockchain, the transaction fees attracted by the ETH stakes must grow proportional to the value of the tokens transacted. The question is - what are the mechanisms to ensure this property? For example, tokens with very high volume of transaction can "pay their way" even with relatively small transaction fees. However, high-value, but slow moving tokens (think about property titles), will have to pay much more to remain secure.
If there are many tokens hosted by the same blockchain, then there might be an issue of "free-riding" - some tokens will contribute to the security significantly more than others (by being more liquid), and others can be high-value, but not providing sufficient income for the ETH stakeholders. When a "generous" token disappears for some reason, others might get less secure, because the value of ETH will drop correspondingly.
Any thoughts welcome
submitted by ledgerwatch to ethereum [link] [comments]

Getting there together: The moon is far. But not far enough.

Nothing good comes from actions taken through fear, pressure, greed or impatience. Nothing.
We’d do well to remember Andreas’ wise and portentous words a few years back:
“No government can fuck bitcoin up. Only we can fuck it up… from the inside.”
It has saddened many to see the split in team bitcoin.
I had hoped by now hands would have been shaken and unity restored, but it seems we continue to run in circles, echoing the wider circus show that is Red vs. Blue, Remain vs. Leave and all the petty one-upmanship, twisted half-truths and mudslinging that comes with waging information wars on an unwilling, subdued and confused populace.
As with our tattered partisan democracies reflecting never-ending post-factual news cycles via embittered old vitriolic patriarchs, so too it seems, our little motley crew of misfits and rebels have resorted to the very same tactics we lambast those FUDsters for. FUDsters we, as a community, are supposed to rally against.
There was a time when some bitcoiners – Roger included – feared for their lives and liberty, such was the commitment to this idea of a better world. Look how far we have come together since those dark, scary, lonesome days where we all needed to hide in the shadows… only a small crazy few in the world to cling to for morale and understanding.
How did such a small group of believers get to this bold new frontier we are on the precipice of with such ease? By working together, united as one and by simply telling the truth to the world at large.
Never did I think the day would come where petty differences would be so vast between us, they couldn't be settled like Gentlemen. And what is happening today is definitely not Gentleman.
Are we not tired of seeing ads paid for by /btc and bitcoin.com to buy points of views in the exact same way political parties try to buy our minds and worldviews through TV and social media? Are we saddened that Roger's crew feel so ostracised that those are the only way they feel they can reach the 'masses'?
Must we endure the same tactics of the vote-buying organised criminal class? Is this not the kind of us vs. them mentality this technology was supposed to help free us all from?
Equally, are we not tired of the attacks on Roger Ver who no doubt feels like an injured animal backed into a corner.
Whilst I abhor Roger’s strong-arm but very clever, almost honey badgeresque ;) tactics, it unnerves me that bigger, faster stronger business is his raison d’être. It unnerves me too that a single 'partisan' blogpost from someone who runs a mining pool in China can make a mockery of all the hard work, sweat and camaraderie we have all put into this project because there is no single unifying message of truth out there.
It's all happening too fast, and it is this exact million miles per hour coke-fuelled mentality that got that 'other' economy into the mess it's in, requiring the release valve of bitcoin.
The irony of all this of course is, had the split not created all this negativity and driven a wedge of fight or flight through the community, we may have all arrived at a compromise months ago that lead to bigger blocks - through consensus. Or, the alternative solutions may well have been advanced by everyone on the same page.
Either way, consensus is a must, unless you want us to repeat the same mistakes of that old world we've been rallying against. And yes, it takes time to get widespread agreement. Even more so when there's FUD flying in every corner.
In the very least, had we not been infighting we could have properly devoted time and energy to developing a robust consensus platform that even the layman can get involved with. After all, do we not one day hope to build these kind of systems for decentralised crowd-driven governance? Why not start with our own governance platform? Instead of splintering us into factions, could Roger not have vested his time and ample resources in helping develop a framework for such a platform? Would this not address the actual key issue here: too much noise and lack of real communication.
What really leaves a bad taste in my mouth is to see all the ad-hominem personal attacks levelled at Roger.
Roger Ver is a man that has been monumental in spreading the word of bitcoin, cares deeply about the innocent victims of the ‘shock and awe’ doctrine and has solid empathy towards the struggles faced by fellow humans. And he's made us smile a good few times along the way too...
Who can forget the ‘Bitcoin: Honey Badger of Money’ billboard that he had erected back in 2011 and (afaik) still stands to this day? How many people have driven past that and found bitcoin because of Roger? How many ripples in the ocean of awareness did Roger first cast?
Roger’s ‘how bitcoin stops war’ speech (and subsequent Tomasz animation) bought a lump to my throat, as did the very real heartfelt tears Roger shed for Iraq war victims; his softly spoken manner tells us that his heart is in the right place and that he loves bitcoin and its potential to free humanity from the yoke of middlemen as much as we all do.
But bitcoin is not going to end war in isolation – it can’t even end the war we created within our own ranks!
Both camps should be ashamed that we’ve allowed things to get this far. Jesus, we’ve surmounted so many obstacles together, and from real, actual ‘bad guys’ who do not give one nano fuck about this world or the people in it. Remember the money 2020 bankster comments all those years back? “Look at these fuckin’ nerds talking about bitcoin. They’ve never seen true evil till we fuck them in the ass”. THAT’S what we were up against. The following year, bitcoin brochures were on every seat at that very same conference. THAT’S what we surmounted... TOGETHER.
The attacks on Roger need to stop, as do his attacks on this subreddit, and its mods. Yes censorship sucks, but so does DDOSing a community that doesn’t understand the intricacies of the argument; an argument that should be settled either via building the aforementioned consensus platform or, for now, via Google hangouts, IRC and a separate subreddit where it can all be weighed up without the intervention and bias of people who are going to railroad the discussion through ignorance and/or belligerence, or simply people who aren't interested in technical discussions. bitcoin isn't the place for it, just as we decided it wasn't the place for market and price discussions.
Roger needs to feel he can come back to this subreddit. He was and should again be an important part of the team here as soon as these bumps in the road have been ironed out. And they will be ironed out, because we're all really fucking good at solving big problems, which is what bought us together in the first place. And this is a tiny problem compared to the others we've solved. A problem we ALL want to solve.
“But… but roger said this…” I hear bitcoin clamouring in the comments. We should not give a single fuck what Roger did or didn’t say since the Roger we are seeing is not the Roger that erected that billboard or shed those tears or made that speech, and that’s because he has faced so much vitriol from a community that has forgotten (or newbs that don’t know) all the crazy risks he has taken in the past to spread bitcoin awareness and back believers. And yes, his own actions have at times been questionable, but they come as a direct result of feeling voiceless and powerless. He’s not saint bitcoin jesus (none of us are) but he is, on the whole, good for bitcoin and passionately wants to help humanity move forward.
So let's help Roger and everyone else get back to expending our energy and considerable skills in the most positive ways for the entire group.
Which brings me to core itself, and the importance of consensus. On any programming job of this scale and sensitivity: consensus is fucking paramount. End of. If we're having problems reaching consensus it's because of a lack of communication, not a problem with the processes required to move forward. Without those processes this project would have crashed and burned years ago, probably around the time GOX went up in flames.
On this subject, I attended a core roundtable meet a few years ago in London. Present were Gavin, Peter and Mike Hearn (back before he jumped ship). Mike came across as massively frustrated, and rather than trying to build bridges, instead took the authoritarian "do it my way or I’ll burn them down" approach whilst wonderfully gentle Gavin meekly stood underneath, unsure which lane to stand under.
Peter was the only one who truly impressed me and left me feeling (as a fellow programmer) that core was in safe hands whilst he guided the oncoming traffic. He fulfilled the role of a strong leader but more importantly maintained an air of the calm, resolute thinker and rational listener. As frustrating as this might be for those like Roger who are deeply passionate about business working alongside this technology: calm, dispassionate logic is what’s needed to drive the code; if we don’t want that code falling off a manmade cliff. Yes it sucks if you're used to running a fast-paced business and you feel the out of date shop fittings are bad for customers, but having working lights and an actual USP is far more superior to pushing on with new renovations only to have the roof cave in on you and your customers.
The recent implosion of R3CEV has vindicated my thoughts on all this. In an ideal world, Mike, another person who has been fundamental in helping shape bitcoin for the better, would come back to the fold and accept that bitcoin is not and cannot be run like a business and, as such, nothing can happen through force of his will alone, no matter how loud he shouts or how many spanners he throws into the works. Indeed, had he not wasted time on lighthouse or writing guff demonising bitcoin, and instead used his skills on streamlining consensus with actual TECH instead of arrogance, maybe he would have solved the very boring human relational problems facing us. Quite why Mike figured the solution was a sassy essay and an entire new blockchain backed by the same system (and people) bitcoin is supposed to circumvent is beyond me. It makes absolutely no sense unless he never really believed from the beginning.
Then again, maybe the whole ‘bitcoin is dead' thing was an elaborate hoax, and Mike’s job was simply to infiltrate and keep the banks busy whilst firing a rocket up cores arse (which I think it probably did)… If so, bravo Mike; we look forward to seeing you appear as a nominee alongside Craig Wright at the 2020 bitcoin tinfoil oscar ceremonies ;)
So here we are. (TL/DR)
Bitcoin is still here and will still be here tomorrow, as sure as the sun will set and the moon will rise.
But wouldn’t it be a lot nicer if the whole family were dancing in the moonlight?
We MUST remember as the unlikely bunch of human beings from all walks of life that found and believed in this grand idea born in digital cyberspace all those years ago, that we all have FAR more similarities than we do differences. And the real strength we have is not that we believe in bitcoin but that we believe in EACH OTHER.
We MUST strive to put our differences to one side and start working together again otherwise we are no better than those shock and awe men in corridors of power we - or people who think very much like us - will surely one day peacefully take the baton of power from to lead them and the rest of humanity out of the darkness.
To do that we must lead by example. Together.
To do so means both camps dropping egos; and appealing to logical, rational process over impulsive fear-driven emotions. It means to tread slowly and carefully and to forgive each other for caring so much we hurt each other and the whole community in the process.
But most of all it means observing the obvious truth we have witnessed from the beginning:
The “crazy one’s” that comprise team bitcoin are stronger, braver and crazier together :)
We’ve come far together.
We will go even further when we stay together.
submitted by smeggletoot to Bitcoin [link] [comments]

OMG Panic! Ethereum is crash! Doom! Sell! /s

As the price falls today. Lets prepare for the myriad of threads popping up asking why is Ethereum crashing, why it's dying and how people should abandon ship to buy Bitcoin the savior of cryptocurrency.
to quote last year's doom sayers
"Ethereum will never be the world internet, nobody will use and adopt the public ledger" "Hyperledger and R3cev will be the new finance blockain" "Ethereum is useless as a smart contract platform because it does not support immutablility" "Rootstock that runs on top of bitcoin will replace Ethereum easily with segwit implementation" "Ethereum fork coin" "Buy buy buy Bitcoin, Ethereum doom doom, Ethereum back to $0"
Lets all hold hands and chant these mantras together. /s
What new ones will be made this year I wonder?
That said, lets sit back and watch the beautiful destruction of portfolios and wait for a buy back for those smart enough to have held on to some FIAT in reserves.
submitted by syaoran99 to ethtrader [link] [comments]

Getting there together: The moon is far. But not far enough.

Nothing good comes from actions taken through fear, pressure, greed or impatience. Nothing.
We’d do well to remember Andreas’ wise and portentous words a few years back:
“No government can fuck bitcoin up. Only we can fuck it up… from the inside.”
It has saddened many to see the split in team bitcoin.
I had hoped by now hands would have been shaken and unity restored, but it seems we continue to run in circles, echoing the wider circus show that is Red vs. Blue, Remain vs. Leave and all the petty one-upmanship, twisted half-truths and mudslinging that comes with waging information wars on an unwilling, subdued and confused populace.
As with our tattered partisan democracies reflecting never-ending post-factual news cycles via embittered old vitriolic patriarchs, so too it seems, our little motley crew of misfits and rebels have resorted to the very same tactics we lambast those FUDsters for. FUDsters we, as a community, are supposed to rally against.
There was a time when some bitcoiners – Roger included – feared for their lives and liberty, such was the commitment to this idea of a better world. Look how far we have come together since those dark, scary, lonesome days where we all needed to hide in the shadows… only a small crazy few in the world to cling to for morale and understanding.
How did such a small group of believers get to this bold new frontier we are on the precipice of with such ease? By working together, united as one and by simply telling the truth to the world at large.
Never did I think the day would come where petty differences would be so vast between us, they couldn't be settled like Gentlemen. And what is happening today is definitely not Gentleman.
Are we not tired of seeing ads paid for by /btc and bitcoin.com to buy points of views in the exact same way political parties try to buy our minds and worldviews through TV and social media? Are we saddened that Roger's crew feel so ostracised that those are the only way they feel they can reach the 'masses'?
Must we endure the same tactics of the vote-buying organised criminal class? Is this not the kind of us vs. them mentality this technology was supposed to help free us all from?
Equally, are we not tired of the attacks on Roger Ver who no doubt feels like an injured animal backed into a corner.
Whilst I abhor Roger’s strong-arm but very clever, almost honey badgeresque ;) tactics, it unnerves me that bigger, faster stronger business is his raison d’être. It unnerves me too that a single 'partisan' blogpost from someone who runs a mining pool in China can make a mockery of all the hard work, sweat and camaraderie we have all put into this project because there is no single unifying message of truth out there.
It's all happening too fast, and it is this exact million miles per hour coke-fuelled mentality that got that 'other' economy into the mess it's in, requiring the release valve of bitcoin.
The irony of all this of course is, had the split not created all this negativity and driven a wedge of fight or flight through the community, we may have all arrived at a compromise months ago that lead to bigger blocks - through consensus. Or, the alternative solutions may well have been advanced by everyone on the same page.
Either way, consensus is a must, unless you want us to repeat the same mistakes of that old world we've been rallying against. And yes, it takes time to get widespread agreement. Even more so when there's FUD flying in every corner.
In the very least, had we not been infighting we could have properly devoted time and energy to developing a robust consensus platform that even the layman can get involved with. After all, do we not one day hope to build these kind of systems for decentralised crowd-driven governance? Why not start with our own governance platform? Instead of splintering us into factions, could Roger not have vested his time and ample resources in helping develop a framework for such a platform? Would this not address the actual key issue here: too much noise and lack of real communication.
What really leaves a bad taste in my mouth is to see all the ad-hominem personal attacks levelled at Roger.
Roger Ver is a man that has been monumental in spreading the word of bitcoin, cares deeply about the innocent victims of the ‘shock and awe’ doctrine and has solid empathy towards the struggles faced by fellow humans. And he's made us smile a good few times along the way too...
Who can forget the ‘Bitcoin: Honey Badger of Money’ billboard that he had erected back in 2011 and (afaik) still stands to this day? How many people have driven past that and found bitcoin because of Roger? How many ripples in the ocean of awareness did Roger first cast?
Roger’s ‘how bitcoin stops war’ speech (and subsequent Tomasz animation) bought a lump to my throat, as did the very real heartfelt tears Roger shed for Iraq war victims; his softly spoken manner tells us that his heart is in the right place and that he loves bitcoin and its potential to free humanity from the yoke of middlemen as much as we all do.
But bitcoin is not going to end war in isolation – it can’t even end the war we created within our own ranks!
Both camps should be ashamed that we’ve allowed things to get this far. Jesus, we’ve surmounted so many obstacles together, and from real, actual ‘bad guys’ who do not give one nano fuck about this world or the people in it. Remember the money 2020 bankster comments all those years back? “Look at these fuckin’ nerds talking about bitcoin. They’ve never seen true evil till we fuck them in the ass”. THAT’S what we were up against. The following year, bitcoin brochures were on every seat at that very same conference. THAT’S what we surmounted... TOGETHER.
The attacks on Roger need to stop, as do his attacks on this subreddit, and its mods. Yes censorship sucks, but so does DDOSing a community that doesn’t understand the intricacies of the argument; an argument that should be settled either via building the aforementioned consensus platform or, for now, via Google hangouts, IRC and a separate subreddit where it can all be weighed up without the intervention and bias of people who are going to railroad the discussion through ignorance and/or belligerence, or simply people who aren't interested in technical discussions. bitcoin isn't the place for it, just as we decided it wasn't the place for market and price discussions.
Roger needs to feel he can come back to this subreddit. He was and should again be an important part of the team here as soon as these bumps in the road have been ironed out. And they will be ironed out, because we're all really fucking good at solving big problems, which is what bought us together in the first place. And this is a tiny problem compared to the others we've solved. A problem we ALL want to solve.
“But… but roger said this…” I hear bitcoin clamouring in the comments. We should not give a single fuck what Roger did or didn’t say since the Roger we are seeing is not the Roger that erected that billboard or shed those tears or made that speech, and that’s because he has faced so much vitriol from a community that has forgotten (or newbs that don’t know) all the crazy risks he has taken in the past to spread bitcoin awareness and back believers. And yes, his own actions have at times been questionable, but they come as a direct result of feeling voiceless and powerless. He’s not saint bitcoin jesus (none of us are) but he is, on the whole, good for bitcoin and passionately wants to help humanity move forward.
So let's help Roger and everyone else get back to expending our energy and considerable skills in the most positive ways for the entire group.
Which brings me to core itself, and the importance of consensus. On any programming job of this scale and sensitivity: consensus is fucking paramount. End of. If we're having problems reaching consensus it's because of a lack of communication, not a problem with the processes required to move forward. Without those processes this project would have crashed and burned years ago, probably around the time GOX went up in flames.
On this subject, I attended a core roundtable meet a few years ago in London. Present were Gavin, Peter and Mike Hearn (back before he jumped ship). Mike came across as massively frustrated, and rather than trying to build bridges, instead took the authoritarian "do it my way or I’ll burn them down" approach whilst wonderfully gentle Gavin meekly stood underneath, unsure which lane to stand under.
Peter was the only one who truly impressed me and left me feeling (as a fellow programmer) that core was in safe hands whilst he guided the oncoming traffic. He fulfilled the role of a strong leader but more importantly maintained an air of the calm, resolute thinker and rational listener. As frustrating as this might be for those like Roger who are deeply passionate about business working alongside this technology: calm, dispassionate logic is what’s needed to drive the code; if we don’t want that code falling off a manmade cliff. Yes it sucks if you're used to running a fast-paced business and you feel the out of date shop fittings are bad for customers, but having working lights and an actual USP is far more superior to pushing on with new renovations only to have the roof cave in on you and your customers.
The recent implosion of R3CEV has vindicated my thoughts on all this. In an ideal world, Mike, another person who has been fundamental in helping shape bitcoin for the better, would come back to the fold and accept that bitcoin is not and cannot be run like a business and, as such, nothing can happen through force of his will alone, no matter how loud he shouts or how many spanners he throws into the works. Indeed, had he not wasted time on lighthouse or writing guff demonising bitcoin, and instead used his skills on streamlining consensus with actual TECH instead of arrogance, maybe he would have solved the very boring human relational problems facing us. Quite why Mike figured the solution was a sassy essay and an entire new blockchain backed by the same system (and people) bitcoin is supposed to circumvent is beyond me. It makes absolutely no sense unless he never really believed from the beginning.
Then again, maybe the whole ‘bitcoin is dead' thing was an elaborate hoax, and Mike’s job was simply to infiltrate and keep the banks busy whilst firing a rocket up cores arse (which I think it probably did)… If so, bravo Mike; we look forward to seeing you appear as a nominee alongside Craig Wright at the 2020 bitcoin tinfoil oscar ceremonies ;)
So here we are. (TL/DR)
Bitcoin is still here and will still be here tomorrow, as sure as the sun will set and the moon will rise.
But wouldn’t it be a lot nicer if the whole family were dancing in the moonlight?
We MUST remember as the unlikely bunch of human beings from all walks of life that found and believed in this grand idea born in digital cyberspace all those years ago, that we all have FAR more similarities than we do differences. And the real strength we have is not that we believe in bitcoin but that we believe in EACH OTHER.
We MUST strive to put our differences to one side and start working together again otherwise we are no better than those shock and awe men in corridors of power we - or people who think very much like us - will surely one day peacefully take the baton of power from to lead them and the rest of humanity out of the darkness.
To do that we must lead by example. Together.
To do so means both camps dropping egos; and appealing to logical, rational process over impulsive fear-driven emotions. It means to tread slowly and carefully and to forgive each other for caring so much we hurt each other and the whole community in the process.
But most of all it means observing the obvious truth we have witnessed from the beginning:
The “crazy one’s” that comprise team bitcoin are stronger, braver and crazier together :)
We’ve come far together.
We will go even further when we stay together.
submitted by smeggletoot to btc [link] [comments]

Ethereum and the Margin of Safety

Pre-Script: This piece was supposed to be based Benjamin Graham's concept of margin of safety from The Intelligent Investor. After going back and re-reading Graham, I realized it was more based on this interview. The interview is a couple of years old and directed at natural resource investors, but most of what is said applies equally well to speculating in the crypto space.
Ethereum and the Margin of Safety
As a cute, speculative plaything, ether is very attractive. An intellectually stimulating project coupled with volatility and the possibility of outsize return. Day turns to night, and play turns to fight. Before moving more seriously into Ether as a speculation, we ought to take a more critical look at our decision. Benjamin Grahams classic book, The Intelligent Investor, emphasizes the concept of margin of safety as the central concept of investing. This is a great concept because it is very malleable, and applicable to a wide range of investment opportunities. Three key points to examine in regards to the margin of safety for a speculation are people (Can the people do it?), money (Do they have the money to do it?) and residual value (What are we left with if they fail?).
First lets deal with residual values. In order to appreciate the residual value the first question that must be critically asked and understood is "What are we speculating on when we purchase ether?" We are NOT buying stock (ether) in a company (Ethereum). Ethereum is a protocol. The Ethereum Foundation is the womb from which Ethereum emerged. The death of the mother does not extinguish the child in the way that the failure of a company would de-list their stock from the exchanges. Ethereum, the protocol, is an organism that dens on github and feeds on human initiative and creativity. An alien life form, straight out of Star Trek, that has infested our computer networks. Ether is the blood of the beast.
Don't forget that bitcoin spun out of the matrix with no funding at all. Ethereum is in the wild. It is not the value of the foundation that is being measured when we look at market capitalization, it is the value of the software. As long as people want to use, and continue to develop, the software, ether is likely continue to accrue value. Additionally we should not lose sight of the fact that Ethereum is a platform on which other people can build applications, compounding the utility and growing the value further. The financials of the foundation are important, but the end of the foundation does not equate to the end of the value of ether. The software lives on as long as it has utility. The ongoing utility of the software is the residual value.
Next, lets tackle the intangible called people. The quality of the people involved with a project speaks volumes about the quality of the project itself. The reality is that the best people get to choose where they want to be. The quality of the people involved with Ethereum is exceptional. Look to the development conferences and hackathon events as evidence of this groups passion for their work. As speculators we want people that are going to think about their work 24/7, not just 9-5. People that have had success in completing tasks that are similar to the challenge that they now have set for themselves. People that have a desire for their product that goes beyond their paycheck. People that are playing while they work. Do the people involved with ethereum display these traits?
Money. What is the next unanswered question or milestone? Does the team have enough money to answer that question or reach that milestone? This is the margin of safety, in the sense that Graham intended. Specifically, if we put capital at risk for this enterprise, what is the probability that we will get our capital back, plus some? Every person that is putting capital at risk here needs to meditate on this point.
The financials of the foundation are in fact, quite good. A junior project with a serious product out the door, no debt(?), and about 8 months of operational cash on hand? Considering the cash flow generating alternative revenue sources that Vitalik outlined in his recent blog post, this candle is far from burned out.
Keep in mind that additional funding rounds, without dilution, are possible because making coins on top of Ethereum is easy. If more funding is required to make it to Mist, for example, a coin called Mist Coin (MTC) could be minted. MTC holders could then earn a return through selling adverts in the MIST GUI, just as an example. The capital that Augur has raised is ample evidence that this funding model will work. The foundation has, or can reasonably be expected to be able to obtain, sufficient funding to reach its goals.
The potential upside with ether is tremendous, but the downside is very real as well. It is very possible that an unforeseen bug will send the price to zero. There is also considerable competition in the space. R3CEV may release a better, or better marketed, product tomorrow and displace Ethereum. From the point of view of this speculator, the game is afoot. Have fun, and watch that margin of safety.
submitted by McPheeb to ethtrader [link] [comments]

Bitcoin price could triple in 2017, says Saxo Bank Crypto Investing #7 - What is R3Cev? - By Tai Zen & Leon Fu BITCOIN PRICE ***what is happening in the crypto space ... Trace Mayer - Long on Bitcoin short on altcoins and R3cev Trace Mayer: Bitcoin Is Seeing Massive Adoption

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Bitcoin price could triple in 2017, says Saxo Bank

Bitcoin price has been reaching closer to all time highs. In this video we discuss current events as well as where the price of bitcoin and ethereum may go b... Kay Van-Petersen, Macro Strategist at Saxo Capital Markets, discusses the growth of crypto currencies globally and whether they are set for widespread adoption; Dec 16 – At $780, the price of bitcoin has doubled in 2016. Many thought it was just a bubble but bitcoin and blockchain technology expert Trace Mayer says otherwise, explaining everything you ... Close. This video is unavailable. "The Bitcoin Report" Interviews and backgrounds on the world of Bitcoin and blockchain Twitter https://twitter.com/nlbitcoinreport Facebook https://www.f...

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