DISCLAIMER This Whitepaper is for Era Swap Network. Its purpose is solely to provide prospective community members with information about the Era Swap Ecosystem & Era Swap Network project. This paper is for information purposes only and does not constitute and is not intended to be an offer of securities or any other financial or investment instrument in any jurisdiction. The Developers disclaim any and all responsibility and liability to any person for any loss or damage whatsoever arising directly or indirectly from (1) reliance on any information contained in this paper, (2) any error, omission or inaccuracy in any such information, or (3) any action resulting therefrom Digital Assets are extremely high-risk, speculative products. You should be aware of the risks involved and fully consider before participating in Digital assets whether it’s appropriate for you. You should only participate if you are an experienced investor with sophisticated knowledge of financial markets and you fully understand the risks associated with digital assets. We strongly advise you to take independent professional advice before making any investment or participating in any way. You should check what rules and protections apply to your respective jurisdictions before investing or participating in any way. The Creators & community will not compensate you for any losses from trading, investment or participating in any way. You should read whitepaper carefully before participating and consider whether these products are right for you. TABLE OF CONTENT · Abstract · Introduction to Era Swap Network · Development Overview · Era Swap Utility Platform · Alpha-release Development Plan · Era Swap Network Version 1: Specification · Bunch Structure: 10 · Converting ES-ERC20 to ES-Na: · Conclusion: · Era Swap Ecosystem · Social Links Abstract The early smart contracts of Era Swap Ecosystem like TimeAlly, Newly Released Tokens, Assurance, BetDeEx of Era Swap Ecosystem, are deployed on Ethereum mainnet. These smart contracts are finance-oriented (DeFi), i.e. most of the transactions are about spending or earning of Era Swap tokens which made paying the gas fees in Ether somewhat intuitive to the user (withdrawal charges in bank, paying tax while purchasing burgers) but transactions that are not token oriented like adding a nominee or appointee voting also needs Ether to be charged. As more Era Swap Token Utility platform ideas kept appending to the Era Swap Main Whitepaper, more non-financial transaction situations arise like updating status, sending a message, resolving a dispute and so on. Paying extensively for such actions all day and waiting for the transaction to be included in a block and then waiting for enough block confirmations due to potential chain re-organizations is counter-intuitive to existing free solutions like Facebook, Gmail. This is the main barrier that is stopping Web 3.0 from coming to the mainstream. As alternatives to Ethereum, there are few other smart contract development platforms that propose their own separate blockchain that features for higher transaction throughput, but they compromise on decentralization for improving transaction speeds. Moreover, the ecosystem tools are most advancing in Ethereum than any other platform due to the massive developer community. With Era Swap Network, the team aims to achieve scalability, speed and low-cost transactions for Era Swap Ecosystem (which is currently not feasible on Ethereum mainnet), without compromising much on trustless asset security for Era Swap Community users. Introduction to Era Swap Network Era Swap Network (ESN) aims to solve the above-mentioned problems faced by Era Swap Ecosystem users by building a side-blockchain on top of Ethereum blockchain using the Plasma Framework. Era Swap Network leverages the Decentralisation and Security of Ethereum and the Scalability achieved in the side-chain, this solves the distributed blockchain trilema. In most of the other blockchains, blocks are a collection of transactions and all the transactions in one block are mined by a miner in one step. Era Swap Network will consist of Bunches of Blocks of Era Swap Ecosystem Transactions. Decentralization Layer 2 Scalable and Secure A miner mines all the blocks in a bunch consequently and will commit the bunch-root to the ESN Plasma Smart Contract on Ethereum mainnet. Development Overview Initially, we will start with a simple Proof-of-Authority (PoA) based consensus of EVM to start the development and testing of Era Swap Ecosystem Smart Contracts as quickly as possible on the test-net. We will call this as an alpha-release of ESN test-net and only internal developers will work with this for developing smart contracts for Era Swap Ecosystem. User’s funds in a Plasma implementation with a simple consensus like PoA are still secured as already committed bunch-roots cannot be reversed. Eventually, we want to arrive on a more control-decentralized consensus algorithm like Proof-of-Stake (PoS) probably, so that even if the chain operator shuts down their services, a single Era Swap Ecosystem user somewhere in the world can keep the ecosystem alive by running software on their system and similarly more people can join to decentralize the control further. In this PoS version, we will modify the Parity Ethereum client in such a way, that at least 50% of transaction fees collected will go to the Luck Pool of NRT Smart Contract on Ethereum mainnet and rest can be kept by miner of the blocks/bunch of blocks if they wish. After achieving such an implementation, we will release this as a beta version to the community for testing the software on their computers with Kovan ERC20 Era Swaps (Ethereum test-net). Era Swap Decentralised Ecosystem Following platforms are to be integrated:
Era Swap Token Contract (adapted ERC20 on Ethereum) The original asset will lie on Ethereum to avoid loss due to any kind of failure in ESN.
Plasma Manager Contract (on Ethereum) To store ESN bunch headers on Ethereum.
Reverse Plasma Manager Contract (on ESN) Bridge to convert ES to ES native and ES native to ES. User deposits ES on Mainnet Plasma, gives proof on ESN and gets ES native credited to their account in a decentralised way.
NRT Manager Contract (on Ethereum or on ESN) If it is possible to send ES from an ESN contract to luck pool of NRT Manager Contract on Ethereum, then it’s ok otherwise, NRT Manager will need to be deployed on ESN for ability to add ES to luck pool.
Era Swap Wallet (React Native App for managing ESs and ES natives) Secure wallet to store multiple private keys in it, mainly for managing ES and ES native, sending ES or ES native, also for quick and easy BuzCafe payments.
TimeAlly (on Ethereum or on ESN) On whichever chain NRT Manager is deployed, TimeAlly would be deployed on the same chain.
Assurance (on Ethereum or on ESN) On whichever chain NRT Manager is deployed, TimeAlly would be deployed on the same chain.
DaySwappers (on ESN) KYC manager for platform. For easily distributing rewards to tree referees.
TimeSwappers (on ESN) Freelance market place with decentralised dispute management.
SwappersWall (on ESN) Decentralised social networking with power tokens.
BuzCafe (on ESN) Listing of shops and finding shops easily and quick payment.
BetDeEx (on ESN) Decentralised Prediction proposals, prediction and results.
DateSwappers (on ESN) Meeting ensured using cryptography.
ComputeEx (on Ethereum / centralised way) Exchange assets.
Era Swap Academy (on ESN / centralised way) Learn. Loop. Leap. How to implement ES Academy is not clear. One idea is if content is constantly being modified, then subscription expired people will only have the hash of old content while new content hash is only available to people who have done Dayswapper KYC and paid for the course. Dayswapper KYC is required because this way people won’t share their private keys to someone else.
Value of Farmers (tbd) The exchange of farming commodities produced by farmers in VoF can be deposited to warehouses where the depositors will get ERC721 equivalent tokens for their commodities (based on unique tagging).
DeGameStation (on ESN) Decentralised Gaming Station. Games in which players take turns can be written in Smart Contract. Games like Chess, Poker, 3 Patti can be developed. Users can come to DeGameStation and join an open game or start a new game and wait for other players to join.
Alpha-release Development Plan
Deploying Parity Node customized according to Era Swap Whitepaper with PoA consensus.
Setting up Plasma Smart Contracts.
Creating a bridge for ERC20 Swap from Ethereum test-net to ESN alpha test-net.
Alpha Version Era Swap Network Version 1 : Specification The Version 1 release of ESN plans to fulfill the requirements for political decentralisation and transparency in dApps of Era Swap Ecosystem using Blockchain Technology. After acquiring sufficient number of users, a version 2 construction of ESN will be feasible to enable administrative decentralization, such that the Era Swap Ecosystem will be run and managed by the Era Swap Community and will no longer require the operator to support for it's functioning. Era Swap Network (ESN) Version 1 will be a separate EVM-compatible sidechain attached to Ethereum blockchain as it’s parent chain. ESN will achieve security through Plasma Framework along with Proof-of-Authority consensus for faster finality. The idea behind plasma framework is to avoid high transaction fees and high transaction confirmation times on Ethereum mainnet by instead doing all the ecosystem transactions off-chain and only post a small information to an Ethereum Smart Contract which would represent hash of plenty of ecosystem transactions. Also, to feature movement of Era Swap Tokens from Ethereum blockchain to ESN using cryptographic proof, reverse plasma of Ethereum on ESN will be implemented. Also, submitting hash of each ESN blocks to ESN Plasma Smart Contract on Ethereum would force ESN to have a block time equal to or more than Ethereum’s 15 second time as well as it would be very much costly for operator to post lot of hashes to an Ethereum Smart Contract. This is why, merkle root of hashes of bunch of blocks would instead be submitted to ESN Plasma Smart Contact on Ethereum. Actors involved in the ESN:
Block Producer Nodes Lesser the number of nodes, quicker is the block propagation between block producers which can help quick ecosystem transactions. We find that 7 block producers hosted on different could hosting companies and locations reduces the risk of single point of failure of Era Swap Ecosystem and facilitates 100% uptime of dApps. Block Producer Nodes will also be responsible to post the small information to the Blockchain.
Block Listener Nodes Rest of the nodes will be Block Listeners which will sync new blocks produced by the block producer nodes. Plenty of public block listener nodes would be setup in various regions around the world for shorter ping time to the users of Era Swap Ecosystem. Users would submit their Era Swap Ecosystem transactions to one of these public nodes, which would relay them to rest of the Era Swap Network eventually to the block producer nodes which would finalize a new block including the user transaction.
Bunch Committers This will be an instance in the block producers which will watch for new blocks confirmed on ESN and will calculate bunch merkle roots and will submit it to ESN Plasma Smart Contract. This instance will also post hash of new Ethereum blocks to ESN (after about 10 confirmations) for moving assets between both the blockchain.
Users These will be integrating with dApps which would be connected to some public ESN nodes or they can install a block listner node themselves. They can sign and send transactions to the node which they are connected to and then that node will relay their transactions to block producer nodes who would finalise a block including their transaction.
A Bunch Structure in Smart Contract will consist of the following: • Start Block Number: It is the number of first ESN block in the bunch. • Bunch Depth: It is Merkle Tree depth of blocks in the bunch. For e.g. If bunch depth is 3, there would be 8 blocks in the bunch and if bunch depth is 10, there would be 1024 blocks in the bunch. Bunch depth of Bunches on ESN Plasma Contract is designed to be variable. During the initial phases of ESN, it would be high, for e.g. 15, to avoid ether expenditure and would be decreased in due course of time. • Transactions Mega Root: This value is the merkle root of all the transaction roots in the bunch. This is used by Smart Contract to verify that a transaction was sent on the chain. • Receipts Mega Root: This value is the merkle root of all the receipt roots in the bunch. This is used to verify that the transaction execution was successful. • Timestamp: This value is the time when the bunch proposal was submitted to the smart contract. After submission, there is a challenge period before it is finalised.
Converting ES-ERC20 to ERC-NA and BACK
On Ethereum Blockchain, the first class cryptocurrency is ETH and rest other tokens managed by smart contracts are second class. On ESN, there is an advancement to have Era Swaps as the first class cryptocurrency. This cryptocurrency will feature better user experience and to differentiate it from the classic ERC20 Era Swaps, it will be called as Era Swap Natives (ES-Na). According to the Era Swap Whitepaper, maximum 9.1 Million ES will exist which will be slowly released in circulation every month. Era Swaps will exist as ES-ERC20 as well as in form of ES-Na. One of these can be exchanged for the other at 1:1 ratio. Following is how user will convert ES-ERC20 to ES-Na:
User will give allowance to a Deposit Smart Contract, and following that call deposit method to deposit tokens to the contract.
On transaction confirmation, user will paste the transaction hash on a portal which will generate a Proof of Deposit string for the user. This string is generated by fetching all the transactions in the Ethereum Block and generating a Transaction Patricia Merkle Proof to prove that user’s transaction was indeed included in the block and the Receipts Patricia Merkle Proof to confirm that the user’s transaction was successful.
Using the same portal, user will submit the generated proofs to a Smart Contract on ESN, which would release funds to user. Though, user will have to wait for the Etheruem block roots to be posted to ESN after waiting for confirmations which would take about 3 minutes. Once, it’s done user’s proofs will be accepted and will receive exact amount of ES- Na on ESN.
Following is how user will convert ES-Na to ES-ERC20:
ES-Na being first class cryptocurrency, user will simply send ES-Na to a contract.
User will paste the transaction hash on a portal which will generate a Proof of Deposit for the user. Again ES-Na being first class cryptocurrency, Transaction Patricia Merkle Proof is enough to prove that user’s transaction was indeed included in the block. Another thing which will be generated is the block inclusion proof in the bunch.
User will have to wait for the bunch confirmation to the Plasma Smart Contract and once it’s done, user can send the proof to the Plasma Smart Contract to receive ES-ERC20.
Since the blocks are produced and transactions are validated by few block producers, it exposes a possibility for fraud by controlling the block producer nodes. Because ESN is based on the Plasma Model, when failure of sidechain occurs or the chain halts, users can hard exit their funds directly from the Plasma Smart Contract on Ethereum by giving a Proof of Holdings.
HOld ES Tokens Swapping with New ES Tokens
The old ES Tokens will be valueless as those tokens will not be accepted in ESN because of NRT (New Released Tokens) and TimeAlly contracts on mainnet which is causing high gas to users, hence reducing interactions. Also, there was an event of theft of Era Swap Tokens and after consensus from majority of holders of Era Swap Tokens; it was decided to create a new contract to reverse the theft to secure the value of Era Swap Tokens of the community. Below is the strategy for swapping tokens: TimeAlly and TSGAP: Majority of Era Swap Community have participated in TimeAlly Smart Contract in which their tokens are locked for certain period of time until which they cannot move them. Such holders will automatically receive TimeAlly staking of specific durations from the operator during initialization of ESN. Liquid Tokens: Holders of Liquid Era Swap Tokens have to transfer the old tokens to a specified Ethereum wallet address managed by team. Following that, team will audit the token source of the holder (to eliminate exchange of stolen tokens) and send new tokens back to the wallet address.
Post-Genesis Tokens Return Program
Primary asset holding of Era Swap tokens will exist on Ethereum blockchain as an ERC20 compatible standard due to the highly decentralised nature of the blockchain. Similar to how users deposit tokens to an cryptocurrency exchange for trading and then withdraw the tokens back, users will deposit tokens to ESN Contract to enter Era Swap Ecosystem and they can withdraw it back from ESN Contract for exiting from ecosystem network. The design of the token system will be such that, it will be compatible with the future shift (modification or migration of ESN version 1) to ESN version 2, in which an entirely new blockchain setup might be required. To manage liquidity, following genesis structure will be followed:
1.17 billion (Circulating Supply)
Locked in Smart Contract
7.93 billion (pending NRT releases)
Though it looks like there are 9.1 * 2 = 18.2 Billion ES, but the cryptographic design secures that at any point in time at least a total of 9.1 billion ES (ES-ERC20 + ES-Na) will be locked. To unlock ES-Na on ESN, an equal amount of ES-ERC20 has to be locked on Ethereum and vice-versa. 9.1 billion ES-ERC20 will be issued by ERC20 smart contract on Ethereum Blockchain, out of which the entire circulating supply (including liquid and TimeAlly holdings) of old ES will be received to a team wallet. TimeAlly holdings of all users will be converted to ES-Na and distributed on ESN TimeAlly Smart Contract by team to the TimeAlly holders on their same wallet address. Liquid user holdings will be sent back to the users to the wallet address from which they send back old ES tokens (because some old ES are deposited on exchange wallet address). ES-Na will be issued in the genesis block to an ESN Manager Smart Contract address. It will manage all the deposits and withdrawals as well as NRT releases.
Following are identified risks to be taken care of during the development of ESN: Network Spamming: Attackers can purchase ES from the exchange and make a lot of transactions between two accounts. This is solved by involving gas fees. A setting of 200 nanoES minimum gas price will be set, which can be changed as per convenience. DDoS: Attackers can query public nodes for computationally heavy output data. This will overload the public node with requests and genuine requests might get delayed. Block producers RPC is private, so they will continue to produce blocks. To manage user’s denial of service, the provider in dApps needs to be designed in such a way such that many public nodes will be queried simple information (let’s say latest block number) and the one which response quickly to user will be selected. AWS is down: To minimize this issue due to cloud providers down, there will be enough nodes on multiple cloud providers to ensure at least one block producer is alive. User deposit double spending: User deposits ES on Ethereum, gets ES-Na on ESN. Then the issue happens that there are re-org on ETH mainnet and the user’s transaction is reversed. Since ETH is not a fixed chain and as per PoW 51% attack can change the blocks. As Ethereum is now enough mature and by statistics forked blocks are at most of height 2. So it is safe to consider 15 confirmations. Exit Game while smooth functioning: User starts a hard exit directly from Plasma Smart Contract on Ethereum, then spends his funds from the plasma chain too. To counter this, the exit game will be disabled, only when ESN halts, i.e. fails to submit block header within the time the exit game starts. This is because it is difficult to mark user’s funds as spent on ESN. Vulnerability in Ecosystem Smart Contracts: Using traditional methods to deploy smart contracts results in a situation where if a bug is found later, it is not possible to change the code. Using a proxy construction for every ecosystem smart contract solves this problem, and changing a proxy can be given to a small committee in which 66% of votes are required, this is to prevent a malicious change of code due to compromising of a single account or similar scenario. ChainID replay attacks: Using old and traditional ways to interact with dApps can cause loss to users, hence every dApp will be audited for the same.
Which type of curren(t) do you want to see(cy)? A analysis of the intention behind bitcoin(s). [Part 2]
Part 1 It's been a bit of time since the first post during which I believe things have crystallised further as to the intentions of the three primary bitcoin variants. I was going to go on a long winded journey to try to weave together the various bits and pieces to let the reader discern from themselves but there's simply too much material that needs to be covered and the effort that it would require is not something that I can invest right now. Firstly we must define what bitcoin actually is. Many people think of bitcoin as a unit of a digital currency like a dollar in your bank but without a physical substrate. That's kind of correct as a way to explain its likeness to something many people are familiar with but instead it's a bit more nuanced than that. If we look at a wallet from 2011 that has never moved any coins, we can find that there are now multiple "bitcoins" on multiple different blockchains. This post will discuss the main three variants which are Bitcoin Core, Bitcoin Cash and Bitcoin SV. In this respect many people are still hotly debating which is the REAL bitcoin variant and which bitcoins you want to be "investing" in. The genius of bitcoin was not in defining a class of non physical objects to send around. Why bitcoin was so revolutionary is that it combined cryptography, economics, law, computer science, networking, mathematics, etc. and created a protocol which was basically a rule set to be followed which creates a game of incentives that provides security to a p2p network to prevent double spends. The game theory is extremely important to understand. When a transaction is made on the bitcoin network your wallet essentially generates a string of characters which includes your public cryptographic key, a signature which is derived from the private key:pub key pair, the hash of the previous block and an address derived from a public key of the person you want to send the coins to. Because each transaction includes the hash of the previous block (a hash is something that will always generate the same 64 character string result from EXACTLY the same data inputs) the blocks are literally chained together. Bitcoin and the blockchain are thus defined in the technical white paper which accompanied the release client as a chain of digital signatures. The miners validate transactions on the network and compete with one another to detect double spends on the network. If a miner finds the correct solution to the current block (and in doing so is the one who writes all the transactions that have elapsed since the last block was found, in to the next block) says that a transaction is confirmed but then the rest of the network disagree that the transactions occurred in the order that this miner says (for double spends), then the network will reject the version of the blockchain that that miner is working on. In that respect the miners are incentivised to check each other's work and ensure the majority are working on the correct version of the chain. The miners are thus bound by the game theoretical design of NAKAMOTO CONSENSUS and the ENFORCES of the rule set. It is important to note the term ENFORCER rather than RULE CREATOR as this is defined in the white paper which is a document copyrighted by Satoshi Nakamoto in 2009. Now if we look at the three primary variants of bitcoin understanding these important defining characteristics of what the bitcoin protocol actually is we can make an argument that the variants that changed some of these defining attributes as no longer being bitcoin rather than trying to argue based off market appraisal which is essentially defining bitcoin as a social media consensus rather than a set in stone rule set. BITCOIN CORE: On first examination Bitcoin Core appears to be the incumbent bitcoin that many are being lead to believe is the "true" bitcoin and the others are knock off scams. The outward stated rationale behind the bitcoin core variant is that computational resources, bandwidth, storage are scarce and that before increasing the size of each block to allow for more transactions we should be increasing the efficiency with which the data being fed in to a block is stored. In order to achieve this one of the first suggested implementations was a process known as SegWit (segregating the witness data). This means that when you construct a bitcoin transaction, in the header of the tx, instead of the inputs being public key and a signature + Hash + address(to), the signature data is moved outside of header as this can save space within the header and allow more transactions to fill the block. More of the history of the proposal can be read about here (bearing in mind that article is published by the bitcoinmagazine which is founded by ethereum devs Vitalik and Mihai and can't necessarily be trusted to give an unbiased record of events). The idea of a segwit like solution was proposed as early as 2012 by the likes of Greg Maxwell and Luke Dash Jnr and Peter Todd in an apparent effort to "FIX" transaction malleability and enable side chains. Those familiar with the motto "problem reaction solution" may understand here that the problem being presented may not always be an authentic problem and it may actually just be necessary preparation for implementing a desired solution. The real technical arguments as to whether moving signature data outside of the transaction in the header actually invalidates the definition of bitcoin as being a chain of digital signatures is outside my realm of expertise but instead we can examine the character of the individuals and groups involved in endorsing such a solution. Greg Maxwell is a hard to know individual that has been involved with bitcoin since its very early days but in some articles he portrays himself as portrays himself as one of bitcoins harshest earliest critics. Before that he worked with Mozilla and Wikipedia and a few mentions of him can be found on some old linux sites or such. He has no entry on wikipedia other than a non hyperlinked listing as the CTO of Blockstream. Blockstream was a company founded by Greg Maxwell and Adam Back, but in business registration documents only Adam Back is listed as the business contact but registered by James Murdock as the agent. They received funding from a number of VC firms but also Joi Ito and Reid Hoffman and there are suggestions that MIT media labs and the Digital Currency Initiative. For those paying attention Joi Ito and Reid Hoffman have links to Jeffrey Epstein and his offsider Ghislaine Maxwell. Ghislaine is the daughter of publishing tycoon and fraudster Robert Maxwell (Ján Ludvík Hyman Binyamin Hoch, a yiddish orthodox czech). It is emerging that the Maxwells are implicated with Mossad and involved in many different psyops throughout the last decades. Greg Maxwell is verified as nullc but a few months ago was outed using sock puppets as another reddit user contrarian__ who also admits to being Jewish in one of his comments as the former. Greg has had a colourful history with his roll as a bitcoin core developer successfully ousting two of the developers put there by Satoshi (Gavin Andreson and Mike Hearn) and being referred to by Andreson as a toxic troll with counterpart Samon Mow. At this point rather than crafting the narrative around Greg, I will provide a few links for the reader to assess on their own time:
Now I could just go on dumping more and more articles but that doesn't really weave it all together. Essentially it is very well possible that the 'FIX' of bitcoin proposed with SegWit was done by those who are moral reprobates who have been rubbing shoulders money launderers and human traffickers. Gregory Maxwell was removed from wikipedia, worked with Mozilla who donated a quarter of a million to MIT media labs and had relationship with Joi Ito, the company he founded received funding from people associated with Epstein who have demonstrated their poor character and dishonesty and attempted to wage toxic wars against those early bitcoin developers who wished to scale bitcoin as per the white paper and without changing consensus rules or signature structures. The argument that BTC is bitcoin because the exchanges and the market have chosen is not necessarily a logical supposition when the vast majority of the money that has flown in to inflate the price of BTC comes from a cryptographic USD token that was created by Brock Pierce (Might Ducks child stahollywood pedo scandal Digital Entertainment Network) who attended Jeffrey Epstein's Island for conferences. The group Tether who issues the USDT has been getting nailed by the New York Attorney General office with claims of $1.4 trillion in damages from their dodgey practices. Brock Pierce has since distanced himself from Tether but Blockstream still works closely with them and they are now exploring issuing tether on the ethereum network. Tether lost it's US banking partner in early 2017 before the monstrous run up for bitcoin prices. Afterwards they alleged they had full reserves of USD however, they were never audited and were printing hundreds of millions of dollars of tether each week during peak mania which was used to buy bitcoin (which was then used as collateral to issue more tether against the bitcoin they bought at a value they inflated). Around $30m in USDT is crossing between China to Russia daily and when some of the groups also related to USDT/Tether were raided they found them in possession of hundreds of thousands of dollars worth of counterfeit physical US bills. Because of all this it then becomes important to reassess the arguments that were made for the implementation of pegged sidechains, segregated witnesses and other second layer solutions. If preventing the bitcoin blockchain from bloating was the main argument for second layer solutions, what was the plan for scaling the data related to the records of transactions that occur on the second layer. You will then need to rely on less robust ways of securing the second layer than Proof Of Work but still have the same amount of data to contend with, unless there was plans all along for second layer solutions to enable records to be deleted /pruned to facilitate money laundering and violation of laws put in place to prevent banking secrecy etc. There's much more to it as well and I encourage anyone interested to go digging on their own in to this murky cesspit. Although I know very well what sort of stuff Epstein has been up to I have been out of the loop and haven't familiarised myself with everyone involved in his network that is coming to light. Stay tuned for part 3 which will be an analysis of the shit show that is the Bitcoin Cash variant...
how to shibecoin v rich in minutes much instruct so simple any doge can do
UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions. Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client. Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots). If you've waited 2 or 3 minutes and nothing is happening, copy this:
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
On Windows this is C:\Users\[YOUR_USER]\AppData\Roaming\DogeCoin
On Macs it's ~/Library/Application Support/DogeCoin
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes. Once it finished downloading, you're ready to send and receive Dogecoins!
Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.
Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.
These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.
Step One: Choose a pool
There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later. NOTE: Youcanmineintwoways.Solominingiswhereyouminebyyourself.Whenyoufindablockyougetallthereward.Poolminingiswhenyouteamupwithotherminerstoworkonthesameblocktogether.Thismakesitmorelikelythatyou'llfindablock,butyouwon'tgetallofit,you'llhavetosplititupwithothersaccordingtoyourshareofthework.Poolminingisrecommendedbecauseitgivesyoufrequentpayouts,becauseyoufindmoreblocks.Thelargerthepoolyoujoin,themorefrequentthepayouts,butthesmallertherewardyouget. Overalongperiodoftimethedifferencebetweenpoolandsolomininggoesaway,butifyousolomineitmightbemonthsbeforeyougetanycoins.
Step two: Set up pool account
The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
Create an account
Create a worker under the account
Grab the mining URL (usually on the getting started page)
Setup your cash out options in your account settings by entering one of your wallet's receiving addresses
When you're done with this, you'll need to know:
Your account, worker name, and worker password
The mining (stratum) URL (usually the pool's URL followed by a port)
Step three: Download mining software
For best performance you'll need the right mining software.
Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets). For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p For Nvidia it's cudaminer.exe -o stratum+tcp://: -O : Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.
Step five: Launch your miner
Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate. If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough. NOTE: Anormalhashrateisbetween50Kh/suptoeven1Mh/sdependingonyourGPU.
You're now mining Dogecoins
That's it, nothing more to it.
CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.
Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:
Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!
This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.
Other redditors can give you Dogecoin by summoning the tip bot, something like this: +dogetipbot 5 doge This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff. As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one. If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.
1/21/14 - Added note about this thread no longer being updated
1/21/14 - Changed wallet links to official site
12/27/13 - Added 1.3 wallet-qt links
12/21/13 - Added new windows 1.2 wallet link
12/20/13 - Fixed +redeem text
12/18/13 - Added short blurb on trading.
12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
The only acceptable "compromise" is SegWit NEVER, bigger blocks NOW. SegWit-as-a-soft-fork involves an "anyone-can-spend" hack - which would give Core/Blockstream/AXA a MONOPOLY on Bitcoin development FOREVER. The goal of SegWit is NOT to help Bitcoin. It is to HURT Bitcoin and HELP Blockstream/AXA.
TL;DR: Adding a poison pill like SegWit to Bitcoin would not be a "compromise" - it would be suicide, because SegWit's dangerous "anyone-can-spend" hack would give a permanent monopoly on Bitcoin development to the corrupt, incompetent, toxic dev team of Core/Blockstream/AXA, who are only interested in staying in power and helping themselves at all costs - even if they end up hurting Bitcoin. Most of this post will probably not be new information for many people. It is being provided mainly as a reminder, to counteract the constant flood of lies and propaganda coming from Core/Blocsktream/AXA in their attempt to force this unwanted SegWit poison pill into Bitcoin - in particular, their latest desperate lie: that there could somehow be some kind of "compromise" involving SegWit. But adding a poison pill / trojan horse like SegWit to our code would not be some kind of "compromise". It would be simply be suicide. SegWit-as-a-soft-fork is an existential threat to Bitcoin development - because SegWit's dangerous "anyone-can-spend" hack would give a permanent monopoly on Bitcoin development to the corrupt / incompetent centralized dev team of Core/Blockstream/AXA who are directly to blame for the current mess of Bitcoin's crippled, clogged network and drastically falling market cap. Furthermore, markets don't even do "compromise". They do "winner-takes-all". Any coin adopting SegWit is going to lose, simply because SegWit is such shitty code:
"Compromise is not part of Honey Badger's vocabulary. Such notions are alien to Bitcoin, as it is a creature of the market with no central levers to compromise over. Bitcoin unhampered by hardcoding a 1MB cap is free to optimize itself perfectly to defeat all competition." ~ u/ForkiusMaximus
AXA is trying to sabotage Bitcoin by paying the most ignorant, anti-market devs in Bitcoin: Core/Blockstream This is the direction that Bitcoin has been heading in since late 2014 when Blockstream started spreading their censorship and propaganda and started bribing and corrupting the "Core" devs using $76 million in fiat provided by corrupt, anti-Bitcoin "fantasy fiat" finance firms like the debt-backed, derivatives-addicted insurance mega-giant AXA. Remember: The real goals of Core/Blocsktream/AXA with SegWit are to:
https://np.reddit.com/btc/comments/6a72vm/purely_coincidental/ Do not judge Core/Blocsktream/AXA by their words. As we have seen, their words have been just an endless stream of lies and propaganda involving changing explanations and shifting goalposts and insane nonsense - including this latest outrageous concept of SegWit as some kind of "compromise" which some people may be "falling for":
Latest Segwit Trickery involves prominent support for "SW Now 2MB Later" which will lead to only half of the deal being honored. Barry Silbert front and center. Of course.
The people we are dealing with are the WORST type of manipulators and liars. There is absolutely NO reason why they should not deliver a 2 MB block size at the same time as SegWit. This is like a dealer saying "hey gimme that $200 now, I just gotta run home and get your weed, I promise I'll be right back".
I agree to immediately support the activation of Segregated Witness and commit to effectuate a block size increase to 2MB within 12 months
[Based] on [their] previous performance [in the Hong Kong agreement - which they already broke], they're going to say, "Segregated Witness was a block size increase, to a total of 4MB, so we have delivered our side of the compromise."
Barry is an investor in Blockstream. What else needs to be said?
~ u/coinlock Nothing involving SegWit is a "compromise". SegWit would basically hijack Bitcoin development forever - giving a permanent monopoly to the centralized, corrupt dev team of Core/Blockstream/AXA.
SegWit would impose a centrally planned blocksize of 1.7MB right now - too little and too late.
Segwit would permanently "cement" Core/Blockstream/AXA as the only people controlling Bitcoin development - forever.
If you are sick and tired of these attempts by Core/Blockstream/AXA to sabotage Bitcoin - then the last thing you should support is SegWit in any way, shape or form - even as some kind of so-called "compromise". This is because SegWit is not primarily a "malleability fix" or a "capacity increase". SegWit is a poison pill / trojan horse which would put the idiots and traitors at Core/Blockstream/AXA permanently and exclusively in control of Bitcoin development - forever and ever. Here are the real problems with SegWit (which Core/Blockstream/AXA is not telling you about):
Initially, I liked SegWit. But then I learned SegWit-as-a-SOFT-fork is dangerous (making transactions "anyone-can-spend"??) & centrally planned (1.7MB blocksize??). Instead, Bitcoin Unlimited is simple & safe, with MARKET-BASED BLOCKSIZE. This is why more & more people have decided to REJECT SEGWIT.
Segwit cannot be rolled back because to non-upgraded clients, ANYONE can spend Segwit txn outputs. If Segwit is rolled back, all funds locked in Segwit outputs can be taken by anyone. As more funds gets locked up in segwit outputs, incentive for miners to collude to claim them grows.
Brock Pierce's BLOCKCHAIN CAPITAL is part-owner of Bitcoin's biggest, private, fiat-funded private dev team (Blockstream) & biggest, private, fiat-funded private mining operation (BitFury). Both are pushing SegWit - with its "centrally planned blocksize" & dangerous "anyone-can-spend kludge".
u/Luke-Jr invented SegWit's dangerous "anyone-can-spend" soft-fork kludge. Now he helped kill Bitcoin trading at Circle. He thinks Bitcoin should only hard-fork TO DEAL WITH QUANTUM COMPUTING. Luke-Jr will continue to kill Bitcoin if we continue to let him. To prosper, BITCOIN MUST IGNORE LUKE-JR.
"SegWit encumbers Bitcoin with irreversible technical debt. Miners should reject SWSF. SW is the most radical and irresponsible protocol upgrade Bitcoin has faced in its history. The scale of the code changes are far from trivial - nearly every part of the codebase is affected by SW" Jaqen Hash’ghar
"We had our arms twisted to accept 2MB hardfork + SegWit. We then got a bait and switch 1MB + SegWit with no hardfork, and accounting tricks to make P2SH transactions cheaper (for sidechains and Lightning, which is all Blockstream wants because they can use it to control Bitcoin)." ~ u/URGOVERNMENT
Core/Blockstream & their supporters keep saying that "SegWit has been tested". But this is false. Other software used by miners, exchanges, Bitcoin hardware manufacturers, non-Core software developers/companies, and Bitcoin enthusiasts would all need to be rewritten, to be compatible with SegWit
"SegWit [would] bring unnecessary complexity to the bitcoin blockchain. Huge changes it introduces into the client are a veritable minefield of issues, [with] huge changes needed for all wallets, exchanges, remittance, and virtually all bitcoin software that will use it." ~ u/Bitcoinopoly (self.btc)
3 excellent articles highlighting some of the major problems with SegWit: (1) "Core Segwit – Thinking of upgrading? You need to read this!" by WallStreetTechnologist (2) "SegWit is not great" by Deadalnix (3) "How Software Gets Bloated: From Telephony to Bitcoin" by Emin Gün Sirer
Normal users understand that SegWit-as-a-softfork is dangerous, because it deceives non-upgraded nodes into thinking transactions are valid when actually they're not - turning those nodes into "zombie nodes". Greg Maxwell and Blockstream are jeopardizing Bitcoin - in order to stay in power.
As Benjamin Frankline once said: "Given a choice between Liberty (with a few Bugs), and Slavery (with no Bugs), a Free People will choose Liberty every time." Bitcoin Unlimited is liberty: market-based blocksizes. SegWit is slavery: centrally planned 1.7MB blocksize & "anyone-can-spend" transactions
u/Uptrenda on SegWit: "Core is forcing every Bitcoin startup to abandon their entire code base for a Rube Goldberg machine making their products so slow, inconvenient, and confusing that even if they do manage to 'migrate' to this cluster-fuck of technical debt it will kill their businesses anyway."
Just because something is a "soft fork" doesn't mean it isn't a massive change. SegWit is an alt-coin. It would introduce radical and unpredictable changes in Bitcoin's economic parameters and incentives. Just read this thread. Nobody has any idea how the mainnet will react to SegWit in real life.
"They [Core/Blockstream] fear a hard fork will remove them from their dominant position." ... "Hard forks are 'dangerous' because they put the market in charge, and the market might vote against '[the] experts' [at Core/Blockstream]" - ForkiusMaximus
The real reason why Core / Blockstream always favors soft-forks over hard-forks (even though hard-forks are actually safer because hard-forks are explicit) is because soft-forks allow the "incumbent" code to quietly remain incumbent forever (and in this case, the "incumbent" code is Core)
Reminder: Previous posts showing that Blockstream's opposition to hard-forks is dangerous, obstructionist, selfish FUD. As many of us already know, the reason that Blockstream is against hard forks is simple: Hard forks are good for Bitcoin, but bad for the private company Blockstream.
Core/Blockstream is living in a fantasy world. In the real world everyone knows (1) our hardware can support 4-8 MB (even with the Great Firewall), and (2) hard forks are cleaner than soft forks. Core/Blockstream refuses to offer either of these things. Other implementations (eg: BU) can offer both.
If Blockstream were truly "conservative" and wanted to "protect Bitcoin" then they would deploy SegWit AS A HARD FORK. Insisting on deploying SegWit as a soft fork (overly complicated so more dangerous for Bitcoin) exposes that they are LYING about being "conservative" and "protecting Bitcoin".
If some bozo dev team proposed what Core/Blockstream is proposing (Let's deploy a malleability fix as a "soft" fork that dangerously overcomplicates the code and breaks non-upgraded nodes so it's de facto HARD! Let's freeze capacity at 1 MB during a capacity crisis!), they'd be ridiculed and ignored
"Negotiations have failed. BS/Core will never HF - except to fire the miners and create an altcoin. Malleability & quadratic verification time should be fixed - but not via SWSF political/economic trojan horse. CHANGES TO BITCOIN ECONOMICS MUST BE THRU FULL NODE REFERENDUM OF A HF." ~ u/TunaMelt
The proper terminology for a "hard fork" should be a "FULL NODE REFERENDUM" - an open, transparent EXPLICIT process where everyone has the right to vote FOR or AGAINST an upgrade. The proper terminology for a "soft fork" should be a "SNEAKY TROJAN HORSE" - because IT TAKES AWAY YOUR RIGHT TO VOTE.
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
Who owns the world? (1) Barclays, (2) AXA, (3) State Street Bank. (Infographic in German - but you can understand it without knowing much German: "Wem gehört die Welt?" = "Who owns the world?") AXA is the #2 company with the most economic poweconnections in the world. And AXA owns Blockstream.
The insurance company with the biggest exposure to the 1.2 quadrillion dollar (ie, 1200 TRILLION dollar) derivatives casino is AXA. Yeah, that AXA, the company whose CEO is head of the Bilderberg Group, and whose "venture capital" arm bought out Bitcoin development by "investing" in Blockstream.
Why is Blockstream CTO Greg Maxwell u/nullc trying to pretend AXA isn't one of the top 5 "companies that control the world"? AXA relies on debt & derivatives to pretend it's not bankrupt. Million-dollar Bitcoin would destroy AXA's phony balance sheet. How much is AXA paying Greg to cripple Bitcoin?
Core/AXA/Blockstream CTO Greg Maxwell, CEO Adam Back, attack dog Luke-Jr and censor Theymos are sabotaging Bitcoin - but they lack the social skills to even feel guilty for this. Anyone who attempts to overrule the market and limit or hard-code Bitcoin's blocksize must be rejected by the community.
"I'm angry about AXA scraping some counterfeit money out of their fraudulent empire to pay autistic lunatics millions of dollars to stall the biggest sociotechnological phenomenon since the internet and then blame me and people like me for being upset about it." ~ u/dresden_k
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
This trader's price & volume graph / model predicted that we should be over $10,000 USD/BTC by now. The model broke in late 2014 - when AXA-funded Blockstream was founded, and started spreading propaganda and crippleware, centrally imposing artificially tiny blocksize to suppress the volume & price.
AXA/Blockstream are suppressing Bitcoin price at 1000 bits = 1 USD. If 1 bit = 1 USD, then Bitcoin's market cap would be 15 trillion USD - close to the 82 trillion USD of "money" in the world. With Bitcoin Unlimited, we can get to 1 bit = 1 USD on-chain with 32MB blocksize ("Million-Dollar Bitcoin")
Bitcoin can go to 10,000 USD with 4 MB blocks, so it will go to 10,000 USD with 4 MB blocks. All the censorship & shilling on r\bitcoin & fantasy fiat from AXA can't stop that. BitcoinCORE might STALL at 1,000 USD and 1 MB blocks, but BITCOIN will SCALE to 10,000 USD and 4 MB blocks - and beyond
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
Nice Article About How HPB Perform Vs EOS (and so ETH)
Taken directly from their site.... BITCLUB NEWS Quick Summary, New Upgrades, and Big Updates... Date: April 25th Included in this update... Quick Summary of last 6 months BCN Support & Legal Updates New Invoicing System (BTC, BCH and ETH) ClubCoin Update Mining Power Update - Large Credit Debit Cards in Testing Mining Earnings and Wallet Balances GPU Shares Transaction History for Deposits Scheduled Updates Quick Summary of last 6 months Right now is a crazy time to be involved in this space! Bitcoin and the entire digital currency market is going mainstream right in front of our eyes and the opportunities are plentiful. Many of you reading this have been fortunate enough to find Bitcoin early and maybe you joined this opportunity 1, 2, or even 4 years ago when we first started mining Bitcoin. If you are among the early adopters then it's likely you are holding a small fortune made up of many different digital currencies (BTC, BCH, ETH, ETC, ZEC, XMR and even CLUB). If you are brand new to BitClub then your journey is about to begin and we are excited to help you make the next few years just as lucrative as the first ones. But either way if you are newbie or a long time member of BitClub we want you to know that our vision goes way beyond mining as we plan to add more value and more features in the next 90 days than we have in the previous 2 years. Some people think it's too late because they missed the initial rise of Bitcoin and the opportunity is over to cash in, but these people are dead wrong! It is still very early in Phase 1 of this digital currency revolution and we believe the next phase is where the real money will be made. Just think about it, every major industry and government organization will soon be affected by crypto and blockchain in some shape or form. We will see huge competition for market share on services like wallets, exchanges, and newly mined blocks :) Right now BitClub has a huge advantage over companies fighting for market this share... That advantage is YOU! We have built an army of distributors around the world and many members of BitClub are becoming some of the largest crypto currency holders in the world. Our network is full of early adopters and with millions of members now enrolled in our organization we have the power to build and shape the services of tomorrow. The sky is the limit on how big we can grow from here and over the past 6 months our top priority has been to anchor BitClub and strengthen our foundation for the next phase of this growth. With that said... We want to address a few growing pains that we've been experiencing. Basically, it all started around September of last year when our sales skyrocketed to heights we never dreamed of, the sales were doubling each month and the market was in a total buying frenzy at the time. We quickly realized our company needed some serious help in order to scale and stay on track. The first thing we did was limit our sales to only allow what we could purchase. This helped to manage the mining operation side but it did not slow down the BCN membership side and pretty soon just about every aspect of BitClub was bursting at the seams. Some companies may have have folded under this hyper growth, but luckily for us all of our issues were minor and we could handle them, it just took some time and effort. First it was the database which grew to over 1 TB in size and started to cause commissions issues, delays, and forced us to pause all the repurchases and infinity commissions until we could stabilize the database. We are still catching up on this! At one point just trying to run the repurchase script was crashing and slowing down our servers to a crawl for 48 hours or more because of the millions of commission records it was creating and paying in real time. Next it was the mining operation and some delays on trying to scale it (more details below), and then finally there was the support and legal side that needed major upgrades as the industry was evolving. We realized we could no longer operate in the shadows, we needed to hire fast, get organized and tackle all of this head on if we wanted to continue providing a good user experience. This is exactly what we've been doing and in this update you will get details on some of the key pieces we have put together as well as an outlook on the future of BitClub. Please read and pass this along to your team. Thanks! BCN Support & Legal Updates We are happy to report the formation of a new operations company that was formalized and is now running the support and compliance side of our business. We have incorporated the company in Nevis under the name BitClub Network Inc. We have also put together a structure that allows us to operate and protect our business in many jurisdictions around the world. With the formation of this new structure we will soon be launching brand new policies and procedures, terms and conditions, and very specific contract details for our mining shares moving forward. One of the main reasons we needed to incorporate now was to stop scammers and people who are using our name to run their own scams. There are dozens of fake sites that we have come across and its been hard to go after them without a legal leg to stand on. We have even seen fake events happening that are giving people false or misleading information and we will no longer stand for this. If you have come across any scams like this please continue to reach out and let us know so that we can begin shutting them down! We are also incorporating to become compliant in many jurisdictions that we are operating in. This will work both ways because any unfriendly jurisdictions who make it hard to comply (like the United Sates) will be blocked and enforced. You will see BitClub corporate taking a much stronger approach to termination in these countries and you can expect a different look as we move from the shadows into the light and make our company compliant. Please understand this is necessary for us and we will likely be closing down more markets in the future as we evaluate the laws in each of them. Our goal is to be able to operate everywhere but at this time it's just not realistic so we will act quickly and pull out of markets who may threaten our model. Better Support... Under our new operations company we have hired over twenty new support people including customer service agents, management level employees, a full compliance department, a new marketing department, and lots of new programmers. We have really been focusing on getting our ducks in a row and we are now in a position to expand fast and support all the new projects we have coming down the pipeline this year and beyond. If you've submitted a support ticket recently you've likely noticed a significant improvement in response times and general customer service levels, this includes local language capabilities with full support in Korean and Japanese. (if you have not tried our support tickets in Korean and Japanese please do, we are ready to handle them). We will continue to build a world-class support infrastructure to support you and part of these support improvements we have formed a dedicated leadership support team to provide VIP-level support for Master, Monster and Mega Builders in your local language. Stay tuned for additional details on when these services will launch. Finally, after some delay, the withdrawals team is now facilitating XMR withdrawals and we are pushing all withdrawals in a much more efficient way. You can expect to see 24 hour response times for all currencies moving forward. NOTE: If you have an XMR withdrawal pending, you should receive confirmation when complete along with details of how to access your funds. The Monero chain has been a tough one for use to navigate with the new forks and overall process Monero requires, but we are finally ahead of it and will clear out all the Monero pending withdrawals this week. New Invoicing System (BTC, BCH, ETH) Starting on May 10th we are bringing back Bitcoin (BTC) and we are also adding Ethereum (ETH) to all invoices. This means you can now chose from 4 different ways to pay for all products and services that BitClub offers. (Bitcoin, Bitcoin Cash, Ethereum, and ClubCoin). Even better news... It doesn't matter how you pay for your invoice or what your downline chooses to pay with because you have full control over which currency you want your commissions to be paid in. We will continue to expand this model as we make it live and improve it, but you can expect it to happen on the 10th of May. This will include an internal conversion tool that you can easily use to swap your tokens within your virtual wallet. We are really excited to launch this system because it lays the foundation for what we want to do in the future and it also eliminates our #1 biggest problem. That problem is overpayment and underpayment of invoices! With our new invoice wallet if you overpay the invoice it will be auto credited to your virtual wallet, if you underpay an invoice it will sit in limbo and continue to refresh every 10 min with the new exchange rate until you pay it. You will constantly be redirected to the invoice to finish your transaction. This is a full integration with CoinPay and you will see the invoices fully powered on the CoinPay platform when it launches. Thank you for your patience as we finalize this move and update the system accordingly. ClubCoin Update We have made significant progress on re listing ClubCoin on some other exchanges. Unfortunately, for reasons outside of our control, ClubCoin was de-listed from Bittrex at the end of March along with 80+ other coins.. We've provided Bittrex with all the required documentation to comply and with the formation of a new legal entity and structure ClubCoin is now in good standing and full legal compliance. We are currently submitting the coin on dozens of other exchanges and we have hired a new development team and legal team to take over the marketing, social media, and promotion of the token moving forward. Nothing has changed with our future plans to deploy ClubCoin inside of CoinPay and we know one day it be a very valuable utility token on the platform. What to do with your ClubCoin in Bittrex? We just added a new internal ClubCoin wallet so that you can generate a deposit address from inside your Back Office. You can find this in your ClubCoin wallet under the Deposit Club tab. This works in the same way you generate an address for for BTC and BCH and then you can send from your Bittrex wallet or any other CC wallet. Or we strongly recommend you can download our latest ClubCoin core and begin staking your coins and running a full node on your computer. The more nodes we have the more secure and safe the network is. Plus, you will earn staking rewards automatically (download ClubCoin here - www.ClubCoin.co) Stay tuned for more updates on ClubCoin development and also the much anticipated launch of CoinPay (which we will have a big update on after this next round of BitClub upgrades is complete). Mining Power Update – Large Credit Our Bitcoin mining operation is currently experiencing some bad luck. We are not talking about the bad luck that is normal in mining a block, instead we are referring to overall bad luck in some circumstances. For our latest expansion we had a very specific deployment schedule when the machines were to be turned on but it's been one thing after another causing delays in deployment. Without getting into all the specifics and pointing fingers or blame we will just touch on some of the issues. There have been electricity issues, customs delays, shipping issues, missing power supplies, problems with racks, cooling, and even electricity rates, etc... We are working as hard as we can to get these machines turned on ASAP and its been a real challenge that we have not encountered before. However, the good news is we are being compensated by the datacenter and by the manufacturer of this equipment on a daily basis for the downtime we are having. As we mentioned in a previous update there is a strong clause in our contract that pays us daily for the machines not being online and while this is a good thing to have, we would much rather have the machines hashing in our pool and minting new Bitcoin. Big Compensation Coming May 4th... We collected another large chunk for the compensation owed to us on these delays and we will disburse this to all members on May 4th. We are hoping to see a significant amount of power come online before the end of the month and the rest of the power is on track and scheduled to be deployed in other regions of the world without delay, so we should catch up quickly after this hiccup. This has been a major pain point for us and we are just as anxious and excited to get this power in our pool as you are. This will provide a big boost in our overall market share and increase daily mining earnings to what they should be. So please be patient as we do everything we can to get there. Debit Cards in Testing We appreciate the excitement around debit cards and the ability it will provide members to utilize their earnings in everyday transactions. This undertaking hit a few legal hurdles that we are addressing now and we hope to roll out the cards to all Mega Monster and Monster Builders in the next few weeks. We are putting significant resources behind this partnership and we will have a fully integrated solution that is exclusive to BitClub members only. This is one of our highest priorities and we will announce a rollout date very soon for everyone so please stay tuned for additional details. Mining Earnings & Wallet Balances We have seen many inquiries about mining earnings and wallet balances that seem to be off. This has been from the database overload and the restructuring process and its only a display issue that is temporary. We are now all caught up with commissions and any payments that were delayed or were showing wrong should now be fixed. If you are still having an issue please open a ticket and we will take a look and make sure your balance is correct. Thanks for your patience on this, we keep very good records and accurate data so if you see something is off usually it will be automatically fixed when the next commission run is done or when one of our audit scripts kicks in. Its actually amazing how many daily records we are now generating from all the commissions, mining earnings, partial shares, and infinity payments. All of these records you see in your back office are actually a small fraction because we summarize them to help not overload you. If you saw all the calculations that happen on a daily basis it would make your head spin. But again most important is we have a check and balance system in place that will correct itself and save us from ever paying out more than we should without serious alarms going off. This protects us all! GPU Shares Update Similar to the Mining Earnings and Wallet Balance display issues, we are aware and apologize for the technical glitch not allowing you to set your account to mine anything outside of Ethereum. This has to due with invoices that were paid in BTC and some in BCH (which will soon not be an issue). In fact, you will be able to fully control ALL of your GPU shares to mine whatever you want. So if you purchased a 5 pack right now all you can do is move all 5 to a single coin. This next upgrade will allow you to control each of them individually. And even more exciting you can control your repurchases on each individual share. This feature was intended to work like Bitcoin mining partial shares but we had to put out some much needed fires with our DB structure and other top priority features before moving back to this. We expect this to be live on May 1st before the new invoicing system goes into play on the 10th. We also have some big things planned on the GPU side as far as expansion and mining opportunities. In fact, we believe 2018 will be the year to gear up on GPU shares and accumulate as much power as we can for the future because there is so much upside in the GPU shares. With all the coins ASIC proofing their model it means GPU's will continue to be profitable and we are now starting to see demand for AI data mining, rendering, and much more. So GPU shares will become a big focus of our expansion this year! Transaction History for Deposits Over the past month or so we have seen a significant number of support tickets and inquiries relating to the inability to view transaction history for deposits – this is a feature that used to exist in your wallet history. This feature is also making it's way back online and will be further enhanced with the launch of our new invoicing platform on May 10th. If you are missing a transaction or credit please let us know. At this point we have received all deposits sent and there are clear records of everything but we are seeing an issue from certain transactions that are not showing up on the member side at all. Again, this is nothing to be concerned about because if you sent any amount of crypto to an address generated from our system we will credit it to your account. The amount may be stuck in the old table and not displaying in your balance. This will be completely fixed for all deposits and history after May 10th. Scheduled Updates and Better Communication Moving forward in May we are implementing a news structure that will have two updates per month. One on the 1st of the month and one on the 15th of the month. This will give you a consistent overview of everything we are doing and allow us to translate these updates in the future. We are working on a lot of cool features right now. This includes an entirely refreshed website, member back office, marketing tools, and reporting tools to make managing your downline much easier. Now that we have a solid team in place you will begin to see huge improvements in your BitClub membership. It took us a lot longer to get here than expected, but we now have the pieces in place for Phase 2 and we hope the lack of communication and all the issues we had over the past few months will be forgotten as we move forward and have big plans for this year. As always, we appreciate your patience and we will continue to work hard to build this company for you! Sincerely, -BCN Support Team
Qubitcoin was started on Jan 12 2014 as an CPU based Crypto Currency under the symbol Q2C Trading Symbol (Qbit on Poloniex). What makes Qubit unique is it was not pre-mined, build on new algorithms, with first 1000 blocks rewarding on 1 Q2C / Qbit, CPU based mining with a total of 248 million Q2C / Qbit limit. Blocks are rewarded at 2048 Q2C / Qbit Per Block with Halving every 60480 Blocks, Qubit Blocks are generated every 30 seconds. With a very fast conformation rate, Qubit’s wallet transactions are very fast making it very useful for commerce. Join our Qubit community and get started now and become part of one of the most promising Crypoto-Coin’s today! New Hashing Algorithm Single hashing algorithm’s will often pose, security risks! Due to the fact that if it is compromised, the whole network runs the risk of being permanently compromised. Qubit’s (QBIT) multiple hashing algorithms increase the security of the entire network by not only mitigating that risk, but also the additional layer’s of complexity, help prevent Qubit from hacker attacks. Along with the fact that Qubit was launched fairly with a staggered system and no coins mined before public launch. Making Qubit a very unique CPU mined coin! Website http://www.Qubitcoin.net is a place for Qubitcoin users to find the latest info, mining info and news. The site was designed to be a simple way interact with Qubit Community and provide new users all the information need to get started mining or trading Qubit. Specifications * Super secure hashing: 5 rounds of hashing functions (luffa, cubehash, shavite, simd, echo). * CPU mining * Qubit block generation: 30 seconds * Firsts 1000 blocks – block reward will be 1 Q2C / Qbit * 2048 Q2C per block (halving every 60480 blocks) * Total of 248 million Q2C / Qbit. * Difficulty retargets every 20 blocks. Website: http://www.qubitcoin.net Social Media: (Liking/Sharing these social media links are best way to promote Qubit Coin, Please Share)
Watcoin [ANN]- World's First Politically Incorrect Meme Coin - Release Date June 13, 2014
Watcoin In WAT we trust Ticker Symbol: WAT http://watcoin.org twitter: http://twitter.com/watcoin Release date: Friday, June13th, 2014 12:00 GMT WAT is Watcoin? Watcoin is a secure cryptocurrency that will be released on Friday, June 13th, 2014. We consider it a meme coin based on the famous WAT lady of Internet fame. No IPO was required to develop this coin as Devs and friends paid for development using their own time and bitcoin. We did a 1% premine of Watcoin prior to release. It will be used for contests, bounties, giveaways, rewards, and overhead. We also kept a portion of the premine for the Wat Lady who’s likeness we have used. Once she can be identified we will attempt to set up a wallet for her or her legal guardian. It is our way for her to receive some payback. Our coin is resistant to 51% attack and ASIC mining , meaning that GPU mining should be profitable for you and your rigs. Coin Specifications:
We decided on using the secure hashing algorithm X11 + KGW, making the coin 51% attack resistant and ASIC mining resistant. 99 second Block Targets 9 Hour Difficulty Readjustments
The Math of WAT: available at http://watcoin.org/wat/#about-us Wallet Download: Windows-coming soon Linux-coming soon MacOSX-coming soon Website: http://watcoin.org – pre-launch viewing Community: http://watcoin.net – coming soon Source Code on GitHub: Coming soon Pools: http://WAT.pool.mn/ Mining Software: CPU Miner: https://mega.co.nz/#!GAcGQYwS!8s9rHZPRxdb9TyJ2k-svU9iXLUUC-1LP0XAY6b38ixg CPU Miner AVX AES – (make sure your processor is compatible): https://mega.co.nz/#!CZ80kaAJ!J5VONEjA2B4d0VXBLkmqiBuF5fJwMoW-Va5BruU7Uo0 GPU Miner – SG Miner: https://mega.co.nz/#!3VNhVQTA!yN5Zh0J-0MMV4JXS0XnqEy49X5C3ebAb0FVVT60yB-8 GPU Miner – CC Miner – NVIDIA cards only: https://mega.co.nz/#!3UsHWSra!8gC_DOrBnh7wby5CNiHjptVs0yO52e_xMZ2CM5gb5tE WatCoin.conf: Coming soon Bounties: • 10,000 WAT – promoting us to be listed on an exchange, tweeting, about us, or linking to us using facebook , reddit, or other forum or social media. We do not have and never will have a facebook presence. facebook sucks! - Unlimited rewards are available until further notice. Claim this by sending an email to [email protected]. Include a link to your Watcoin splash and your wallet address. • 20,000 WAT for designing and displaying unique WAT memes. If you accept payment then the artwork can be used by the community at large with no further compensation to you. - Unlimited rewards are available until further notice. Claim this by sending an email to [email protected]. Include a link to your Watcoin meme and your wallet address. • 1 million WAT annually for 2 years for creating, running, and maintaining a Watcoin pool. You will receive 50% of your annual bounty up front and the rest 12 months later. - 10 rewards are available. Claim this by sending an email to [email protected]. Include a link to your Watcoin pool and your wallet address. Do not mess with our miners. Take their coins and you lose your rewards and get blacklisted in a very public fashion. • 1 million WAT – Writing and publishing a unique positive article about Watcoin – Devs discretion and we are fussy. Make it good and not some retarded drivel. Discussing how political correctness is a tool meant to stifle free speech will be considered non-retarded and moved to the front of the line. In exchange for your reward we get to use/edit your article in any way we want. Must be 250 words or more. - 10 rewards are available – Claim this by sending an email to [email protected]. Include a link to your Watcoin article and your wallet address. • 1 million WAT annually for two years for creating and maintaining a properly functioning Watcoin block explorer. You will receive 50% of your annual bounty up front and the rest 12 months later. - 3 rewards are available. Claim this by sending an email to [email protected]. Include a link to your Watcoin block explorer and your wallet address. • 2 million WAT annually for 2 years for merchants who accept Watcoin as a method of payment. You will receive 50% of your annual bounty up front and the rest 12 months later. - 8 rewards are available. Claim this by sending an email to [email protected]. Include a link to your store and your wallet address. • 2 million WAT per year for 2 years for adding a seed node. You will receive 50% of your annual bounty up front and the rest 12 months later. - 5 rewards are available. Claim this by sending an email to [email protected]. Include proof of a properly functioning node and your wallet address. • 5 million WAT – article at CoinDesk, Bitcoin Magazine, Forbes or Money Week. - 5 rewards are available. Writing and publishing a unique article about Watcoin – Give us some maximum exposure. Watch the politically correct fallout from what we like to call Libatrds. Claim this by sending an email to [email protected]. Include a link to your Watcoin article and your wallet address. You have to prove that you are the author. • 10 million WAT – promotional YouTube video – We love Whiteboard videos (hint hint). If you accept payment then the video(s) can be used by the community at large with no further compensation to you. - 5 rewards are available. Claim this by sending an email to [email protected]. Include a link to the YouTube video and your wallet address. • 50 million WAT – to first person who can provide legitimate contact info for the WAT lady and/or her legal guardian. We will be contacting/visiting the family to set up their wallet so we will be verifying it before payout. That info must be sent in a PM and you must tell us, in detail, how you know that your information is accurate. - 1 reward is available. Claim this by sending an email to [email protected]. Include detailed information about how you solved this mystery and your wallet address. This will take time to verify. NOTE: More bounties, rewards, and prizes will be made available in the coming months. Learn how you can earn free WAT by visiting our official website at http://watcoin.org.
Analyzing a million different hashes per second is what's called a "mega-hash". Obviously, the higher this number the more different combinatinos you can try, so it becomes more probable that you will find an answer. However, this is only a relative advantage that may be completely nullified if the other miners have a similar or even higher computing power than yours. This graph explains it ... The speed or power of computer that do bitcoin mining is calculated in hashes calculated per second. Let's say you had one legitimate $20 bill and one counterfeit of that same $20. If you were to try to spend both the real bill and the fake one, someone that took the trouble of looking at both of the bills' serial numbers would see that they were the same number, and thus one of them had to be ... An exahash solves 10^18 hashes (problem-solving with algorithms) per second which means the networks hashrate is processing beyond exascale computing speeds at over four quintillion hashes per second. According to research , exascale computing technology will grow exponentially in 2018, and the bitcoin network became one of those technologies when it surpassed 1.5 exahashes per second in mid ... 1579000000 hashes/second : Difficulty: 19298087186262 times difficult than difficulty 1: Exchange Rate:-0,00000000/BTC Block time: 1663427 years, 8 months, 2 weeks, 9 hours, 42 minutes, 58 seconds/block: Network total: 144.856,281 Thash/second Open your mining software and check how many Megahashes per second it is doing (Mh/s). Load up the mining profitability calculator. Enter your current mining hashing power. Enter the power consumption of your unit or units. Enter the cost of your electricity in kWh. You should be able to get this from your energy supplier. Enter the pool fee for the pool you are using. In the example from the ...
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