Gold Ore Mining, Loading Excavator Bucket Into Body Of ...

Gold and Silver: Where Do They Go From Here?

https://federationofglobalmerchants.com/2020/08/14/gold-and-silver-where-do-they-go-from-here/

Investors know by now that one of the leading indicators of an unstable and unpredictable stock market is a surge in the price of precious metals like gold and silver. In February, amidst the COVID-19 pandemic, the markets officially entered a recession, even though just months later several of the major indices have reached all-time highs. It was a brief dip into recessionary territory, but this sort of volatility is what gives investors hesitation in putting their money into the stock market, rather than something that is perceived to be more stable. Gold future contracts are selling well above $2000 per ounce for the rest of 2020 and well into 2021 as well showing that investors are confident that gold will continue to rise in price. Silver is also surging reaching new all-time highs on a daily basis. So investors may be curious as to how to get into this red-hot market, especially as the markets continue to fluctuate.
Gold:
For centuries now gold has been literally the ‘gold-standard’ of currency and wealth. Dating back all the way to around 40,000 B.C. in Spanish caves, gold is a naturally occurring element that has both fascinated and lured people for as long as barter systems and wealth has been recorded. Currently, gold is enjoying its highest valuations in history as investors flock to the stability of the precious metal through various streams. So what is the allure of gold and why is it so stable?
Warren Buffett once said, “Gold is a way of going long on fear.” That is quite a statement from perhaps the greatest investment mind of our generation. But what does this mean for the novice investor? Even the most successful blue-chip stocks can crash. Obviously the more prominent and profitable companies with mega market caps will not crash as easily as smaller companies, but given the volatility of the pandemic, we can see anything happen. But as stock markets fluctuate on a daily basis, the price of gold remains mostly stoic. Not as manipulatable as stock prices, gold is as steady as it gets for investors.
What makes gold so stable? It is a combination of factors, first and foremost, it is a physical and tangible element which makes it possible for people to store and stockpile. It does not corrode or wear down over time, making it durable and ensuring that the value remains. There is also a finite supply of it in the world. This reinforces that it will always keep a certain level of valuation as the supply is kept in check.
Today, as the Federal Reserve tries desperately to pump money into the American economy to stave off a global recession and keep companies afloat. Printing more American dollars helps in the interim, but it is a temporary band-aid for the bigger problem. As more of the dollar gets created the more it gets devalued as a form of currency. This is another reason why gold is skyrocketing. The two valuations always work inversely to each other, so as the greenback continues to plummet, the price of gold will continue to surge which makes perfect sense if one thinks about it. The value of gold is priced in American dollars per ounce, so if the value of an American dollar retreats, the cost of gold will rise in response.
So how can investors take advantage of the current state of gold? In the age of internet investing, there are plenty of ways to invest in gold or anything in that matter. Most American platforms give inventors the ability to buy fractional shares of companies. While this comes in handy for expensive stocks like Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), or Tesla (NASDAQ:TSLA), it also allows investors to diversify their funds across multiple companies to form a basket approach to an industry. There are also plenty of ETFs or Exchange Traded Funds, available for investors to consider. These funds have the diversification of a mutual fund or index fund, but trade like individual stocks. Here’s a few of the better gold ETFs to consider if you are looking to get into the industry:
  1. IAU – iShares Gold Trust: One of the better known gold ETFs out there, iSHARES is a reputable brand with great overall market performance. The fund has returned over 17% to inventors already this year, and with the price of gold projected to continue to rise, this fund should keep delivering for investors into next year.
  2. DGL – Invesco DB Gold Fund: Another well known and reputable ETF, the Invesco Gold Fund has slightly higher fees than iSHARES but has also had a slightly better return so far this year.
  3. IAUF – iShares Gold Strategy ETF: Another iSHARES ETF, this one has parts of IAU, as well as gold futures contracts, to get a long term forecast of the price of gold so the investor gets exposure to a wider range of gold options.
There are dozens of other ETFs available for investors that cover everything from miners to the finished products. Mining company stocks are another great way to get exposure. As the demand for gold increases, these mining companies should see a rise in their revenues and eventually, their profits as well. These changes will be reflected in their stock prices and we have already seen some of this already this year.
  1. ABX – Barrick Gold: One of the largest gold mining companies in the world, this Canadian company has seen healthy gains in their stock price so far in 2020. Over the last 52 weeks, Barrick investors have enjoyed a 131% increase in stock price. With mining projects ongoing in Canada, America, Australia, South America, and Africa, Barrick has already announced that it is on track to achieve guidance this year despite closures from COVID-19.
  2. FNV – Franco-Nevada Gold: This stock price rose almost 15% in July alone. Franco-Nevada operates as a funding company to gold mining companies, rather than actually doing the mining themselves. Sustainalytics, a guidance and analysis company, rated Franco-Nevada number one amongst 104 precious metal companies.
  3. NEM – Newmont Goldcorp: The largest gold stock by market-cap and the only stock to trade on the S&P 500, Newmont is probably the safest company for gold investors to invest in. On top of steady returns and low volatility in the stock price, the company pays a fairly healthy dividend as well.
With gold at all-time highs, we can begin to question how high the precious metal may go. With a second wave of the coronavirus making its way around some parts of the world, and America, still making its way through their initial wave, the uncertainty that exists in today’s markets may continue into 2021. Some Wall Street analysts have forecast gold to rise as high as $10,000 per ounce, but that seems like a little ambitious. Gold has just recently hit all-time highs at $2000 per ounce and to imagine that it can run up another 500% in the next few years seems far-fetched at this point in time. That would require the markets to enter an extended bear-market, which of course is possible after a decade of a bullish run, but it would also require the American dollar to continue to be further devalued.
Gold is pegged to continue to rise for the rest of this year though and well into 2021. That means investors and analysts are foreseeing a further devaluation of the American greenback as well as continued volatility in the markets and economy. Is gold a safe haven? Some people believe it is, but if you are an investor that enjoys high returns over long periods of time, investing in precious metals may not be for you. Investors love the stability of gold but the returns are never astronomical, with the last few months being an exception. It helps to have a portion of your portfolio dedicated to precious metals to diversify and protect you from any sudden market corrections, but investors should not be looking at gold as a short-term way to get wealthy.
Silver: The other precious metal that has been flying sky-high of recent months is silver, the eternal younger brother to gold. Mined from silver-ore, it is a highly malleable metal that was once valued higher than gold by the Ancient Egyptians. Today, it is relatively low in price per ounce compared to gold, reaching all-time highs recently of just under $30 per ounce. Silver is another stable alternative to gold, and at lower prices, it may be a little more affordable for the novice investor to jump into.
Like with gold, silver has an inverse relationship to the American dollar, and to all currencies in general. Again, this is another reason why silver is hitting all-time highs right now, with silver future contracts predicting a steady rise to mirror gold, well into 2021. There is also something that Wall Street calls the gold silver ratio, which is exactly what it sounds like: the ratio of the price of gold per ounce to the price of silver per ounce. This ratio has historically moved together, which makes logical sense if both precious metals are independently moving inverse to paper currencies. Historically, the gold and silver prices do move together though as the general ratio has been in the range of 17:1 to 20:1.
Silver also has numerous ways for investors to get involved in, including silver mining and production companies, as well as the ever popular silver ETFs. These Exchange Traded Funds have gained popularity amongst retail investors in recent years as a way of purchasing a diversified product as a single equity with low costs, and no trading fees if your platform allows it. Here are a few of the better performing silver ETFs that investors can look into adding to their portfolios if they are interested in the precious metal:
  1. SLV – iShares Silver Trust: Probably one of the better known silver ETFs, this is fully backed by silver bullion and coins held in a vault. While usually fairly steady, this ETF has enjoyed a 52-week increase of 152% with much of that coming in the last few months.
  2. SIVR – Aberdeen Standard Physical Silver Shares ETF: Very similar to SLV but with lower fees, this is an ideal fund for novice and experienced investors to get into as they start to diversify their portfolios.
  3. DBS – Invesco DB Silver Fund: Again another stable ETF for investors to get into, and another good performing one as well. Just as with their gold ETF, Invsco focuses on silver futures contracts for this fund, so it is a nice long-term play if investors are bullish on silver.
Just as with gold, investors can get a slice of the silver pie by buying shares of silver mining companies as well. Here are a few of the top silver mining company stocks that investors can look into adding to their portfolios.
  1. PAAS – Pan American Silver Corp.: This Canada based miner is focussed on the exploration, development, extraction, refining, processing, and reclamation of silver. They operate mines in Peru, Mexico, Bolivia, and are developing more as well for the future.
  2. WPM – Wheaton Precious Metals: Another Canadian based company that deals with miners of gold, silver, palladium, and cobalt. Wheaton is not a direct miner, rather they purchase these precious metals from other mining companies.
  3. AG – First Majestic Silver Corp.: Canadian companies seem to be dominating the silver industry, and First Majestic is another of those. This company focuses mainly in Mexico for gold and silver.
Silver may never be as popular as gold for investors to keep track of but the two precious metals move in a synchronized fashion, and both are looked upon by investors as safe havens for their money when the market is in flux.
The rest of 2020 seems like a wildcard right now, with many analysts expecting a further correction to the markets at any point. There seems to be an inevitability to a market crash of some sort, whether it is as big as the one that happened back in February and March, remains to be seen. Investors are looking at the precious metal industry to hold their funds to wait out any sort of correction or crash. If this does happen, we may expect a pullback in precious metals too as investors selloff to get back into some stocks at their low levels. Such is the ebb and flow of the economy during turbulent times like the current one we are in.
At the same time, what if a market correction does not happen? Will the uncertainty continue or will investors feel relatively secure in the way the markets are progressing? This could cause a reduction in the demand for silver and gold, culminating in lower prices in the future. Of course this also depends on the Federal Reserve diminishing their rate of printing paper currency to bailout the economy, which does not seem like a reality in the short-term at least.
Another point of contention for investors is the ongoing economical and political tensions between China and America. The two world powers have been feuding for the past couple of months over various things, but it escalated as China social media app Tik Tok gained popularity in North America. It was alleged that TikTok was sending data and information from mobile phones back to China, though nobody is sure of their intended use of this data. Regardless, the markets have stumbled several times lately because of this. Both sides have threatened economic sanctions and the banning of certain product use in each country. The prices of silver and gold have shot up as the tensions have escalated between the two governments, as investors flock to the precious metals. Many of the biggest companies on the major stock indices rely on China for materials or production, so any sort of breakdown in supply chains could cause an enormous change to their stock prices. An example of this is a sudden 5% correction in the price of Apple (NASDAQ:AAPL), as it was thought that iPhone sales would decline if China’s chat platform WeChat was banned in America.
There are other factors that may have an effect on gold and silver prices as well. In this modern economy, many of the retail investors have trended towards younger adults with a sudden influx of income. Popular platforms such as Robinhood combined with increased time at home during the quarantine, have caused retail investor usage to skyrocket during the pandemic. Many of these investors are more lured in by the shiny new objects of cryptocurrencies like Bitcoin. Perhaps we will start thinking of these cryptocurrencies as a modern day version of precious metals one day, as many investors and some analysts, believe that Bitcoin may be a safe haven in the future. Already, the price of Bitcoin has risen above $12,000 in August, mirroring the highs of gold and silver. If the demand for Bitcoin rises higher than the demand for precious metals, we may see an investor migration to cryptocurrencies rather than tangible metals.
Conclusion: Gold and silver are staples of our global economy, and will continue to be so as long as the demand for precious metals exists. In times of uncertainty, gold and silver are viewed as safe relative to the volatility of the stock market. Sure, their prices can vary as well, but because they are tied to a less dynamic valuation that is based on an inverse relation to paper currency, their prices will not and can not fluctuate as much as the liquidity of individual stocks.
As long as the world remains in flux, there will be a general feeling of instability, especially for global markets. A second wave of COVID-19 in the third or fourth quarter of 2020 could prove to be enough to push the markets over the edge and into another recession. The bull market has been rallying for over a decade now, with astronomical gains over the last few years, especially for sectors like the big tech FAANG stocks. Another factor to consider is what a Biden government could bring to the world if he is elected over President Donald Trump in October. A new government could ease some of the tensions with China, as well as within America itself. These are all big what ifs, and could all have potential impacts on the economy and the world. As long as all of these factors are up in the air, investors will be looking to gold and silver as ways of stabilizing their portfolios and protecting their finances from a potential market crash in the future.
submitted by Toughcatlove to u/Toughcatlove [link] [comments]

Power to mine

Curious about your thoughts on this. It seems like a smaller segmented/isolated part of the story that is much bigger - but that aside... Mining bit coin at scale still seems to be profitable and it can go off grid - vs needing to process cotton, linen or polymer or cut down trees (if anywhere still does that) for paper money or ore mining for coins. Potentially a better near future method 'environmentally' speaking at least.

https://www.engadget.com/it-takes-an-estimated-seven-nuclear-plants-to-power-our-bitcoin-mining-212441059.html
submitted by Eeir_Table to BitcoinMining [link] [comments]

The project loses its voice and how Forbes stands out

The project loses its voice and how Forbes stands out

https://preview.redd.it/rstkulyt9f551.png?width=764&format=png&auto=webp&s=c29cc40bdb0a46f7d24d11d1cfb0334a29e1ce69
With the success of bitcoin, the currency circle has officially entered the "bull market cycle", but many friends are complaining that it is more and more difficult to earn money in the currency circle. Indeed, today's futures have been reduced to leek harvesters, and Shanzhai coins are half dead under the hard support of the project side, while the big model coins of the great fire of 19 years have disappeared. Many people will ask why the 17-year ICO, 18-year IEO and 19-year model currency will not be seen until 2020 without strong policy intervention. It's not hard to understand. The reasons are as follows:
1., after 17 years of super bull market, the past 3 years are in the bubble stage.
After being cheated countless times, leek is more cautious about new projects. The era when a white paper and an official website can circle money is gone forever.
2. The blockchain project is difficult to land and has no physical support.
In the currency circle, no matter what projects boast heaven, unlike industry, there is no sustained hematopoietic capacity, and ultimately only to end up with zero.
3. All model coins are Ponzi schemes.
Not to mention model currencies, all models are pyramid pyramid schemes, which reward the first arrivals with the money of the latecomers. The bigger the bubble, the collapse is only a matter of time.
Is it true that the currency circle is so dead that there is no hope? If you really want to start a new craze in the currency circle, the top 3 problems must be overcome. That is to say, if there is a project that can control risks without bubbles, there is physical support, without pyramid schemes, it will be a long and steady way to make money.
Before that, there must be some people who say it's a dream. After the epidemic, the state vigorously supports the enterprises to revive the economy. However, in reality, it's very difficult for entities to do it, let alone blockchain projects. As a result, I noticed a project called Forbes. After studying the white paper, I suddenly felt that like discovering a new continent, unlike any project I have ever seen, this project has perfectly realized the above vision! Let's explore it with curiosity and see what kind of immortal project it is.

https://preview.redd.it/j4p5cddgaf551.png?width=740&format=png&auto=webp&s=f380453bc8a63995ae15b7f32186dc34fa36e3ba
1、 0 raise funds, start the fund only by regular mining business
First of all, Forbes project is 0 fund-raising. Note that there is no fund-raising at the beginning, which eliminates the possibility of encircling money. Before the introduction of Forbes project token GFS, only bitcoin mining business was started. This bitcoin mining seems to be impossible. What does this have to do with the project itself? Let's explain later. First of all, mining business. Forbes first launched the "miner Alliance Plan". If you want to participate in it, you only need to pledge the deposit to purchase computing power or mining machines, and you can continue to get mining profits. Note why the project risk is controllable. The key points are:
  1. The deposit is returned daily for a period of one year through the smart contract.
The smart contract is deployed on Ethereum. The deposit usdt is returned every day. The smart contract is open-source, which ensures that the principal can be recovered 100% regardless of the outcome of the project.
  1. Mining income can be withdrawn every day.
The income from bitcoin mining will also be automatically converted into stable currency, which can be withdrawn every day, so as to realize the stable earning.
  1. Solid bitcoin ore pool support, which can be inspected on site.
The reason why the project is supported by entities is that 100% of the deposit mortgaged by users is used to purchase bitcoin mining machines. Forbes cooperates with bitcoin China, the global head mining pool, which can be visited at any time.
In this way, in the early stage of Forbes project, users can participate in bitcoin mining through 100% deposit return, and earn mining profits with little risk. If it's just mining, Forbes can't make a big impact on the currency circle. After all, there are two problems. One is that the cycle is too long; the other is that there is no promotion model. Although the model coins of the 19-year fire are all the end of collapse, the reason for the fire is that there are models to see how Forbes breaks.

https://preview.redd.it/ef7baf60bf551.png?width=1450&format=png&auto=webp&s=fab5db6ad76301bc14186ab9de199c58a4d4ae20
2、 Static and dynamic dual mode, the fuse is on fire
As mentioned above, the return cycle of buying deposit for mining machine is as long as one year, which may deter many people. Forbes has designed two modes. If you don't do anything after buying the miner, you can only make money slowly through the deposit released every day and the income generated. At present, the annual income is about 180%, which is called static mode. If you want to make money quickly, Forbes has designed a dynamic model.
In dynamic mode, there are three modules.
  1. Promotion in wet season.
In the mining circle, if there is a high water period, the benefits of mining will increase, so Forbes will often launch this activity in the high water period. 10% of the deposit of the first single miner directly pushed by the users to the top 5 will be released immediately. For example, if I bought a 1000u miner, the deposit of 1000u would have been released in one year, but if I recommend five more people to buy the miner, and all the five people buy the 1000u miner, then 10% of the total amount of deposit, that is, 500U, can be released immediately. In this way, I can promote up to 5 people and get back half of the original immediately.
In addition, it should be noted that the funds released here are the sum of deposit and income, not only the deposit!
  1. Direct promotion increased release by 20%, indirect promotion increased release by 10%.
It's easy to understand. Let's take my purchase of 1000u mining machine as an example. When it is not promoted, the deposit plus mining revenue will release 7U in total every day. If one person is directly pushed, and this person purchases 1000u mining machine, I will increase the release money by 20%, i.e. 1.4u. If the person who is directly pushed also buys 1000u mining machine, it is indirect promotion. I can increase the release money by 10%, i.e. 0.7u, My daily release gold is 7U + 1.4u + 0.7u = 9.1u. The more you push, the faster you release, that's the mechanism.
  1. Labor Union level release.
The so-called labor union refers to other performance areas beyond the maximum performance line under umbrella, because I am the recommender of all people under umbrella, so I am the president. In order to encourage users to join the trade union, the presidents of different levels of trade unions can get different levels of release rewards. For example, if I only need 50000 U of direct and indirect funds to become a V1 Union, then 12% of the total income of bitcoin dug out by the whole network will be equally distributed to the presidents of all V1 unions for release, and so on.
In Forbes' promotion model, all these promotion rewards are only the release of your principal and income, not the money from your family. This is different from other MLM project core elements!
In other words, it would take a year to release the principal and mining income without doing anything at all, but if I promote, it can greatly increase the speed of capital recovery and income generation. When the promotion reward reaches the sum of the deposit and income that should have been obtained, the promotion reward is no longer effective.
Some may say that I have worked so hard to build such a large community. It is not worth it just for the principal and about 180% of the annual mining income. In fact, when the deposit and income are released completely, you can choose to re invest again, so that the promotion reward can be released all the time.
Someone will ask again, the income of bitcoin mining is uncertain every day, why is the release associated with the expected future income? Forbes expects mining bitcoin's annual revenue to reach 180%, far higher than other mining pools. Where does the capital come from?
It is very important to explain this problem, because Forbes is a pure entity, no bubble project, and there can be no Ponzi scheme.
  1. As the project has its own promotion mode, once it is started, the ore pool will grow rapidly by fission, so the huge size of the ore pool will have a lot of base gas and ask for the price of the power plant. Generally, the cost of pool electricity may be more than 0.35, while Forbes can save a lot of electricity cost.
  2. With the support of the world's top mining pools, the more mining machines are purchased, the less the marginal cost, so the cost of mining machines is actually lower than the average cost of all users, and this cost difference is also one of the benefits.
  3. Forbes has set up a "mining pool fund", which uses 20% of the income from the mining output of the whole network to enter the fund pool. This fund is dedicated to the purpose of continuous purchase of mining machines to expand the income. Therefore, the project has the capacity of continuous hematopoiesis.

https://preview.redd.it/1hd299u9bf551.png?width=1434&format=png&auto=webp&s=b1db1e2a63ad6b8d38814e4f254a716dcb195850
3、 Forbes takes the overall situation and the final project vision is to realize distributed finance.
have ulterior motives. It would be a mistake to think that Forbes is just a new exploration of the mining model. What the project really wants to achieve is the landing of cross chain technology and the first echelon of distributed finance.
"Forbes miner alliance" is only the first step. With the launch of the main network, many node ecology gathered through mining will suddenly have a place to play, which to play, invincible. As we all know, the most popular concept of blockchain is difi (distributed Finance), which is also the field that Ethereum 2.0 will further explore in the future. What Forbes really wants to build in the future is to win the crown of decentralized finance and become the "UnionPay" of the currency circle.
Then when the Forbes ore pool is mature, Forbes will launch the main network and token GFS, and the output of GFS can only be obtained by purchasing a special miner. Because participating in the early bitcoin mining is also equivalent to contributing to the node ecology, users can choose to convert the mining revenue into GFS vouchers during the miner alliance period, and after the main network line, they can map to the main network token one by one. If we are optimistic about the future of GFS, it is a good choice to exchange mining income into GFS voucher in advance.
Of course, it is still the saying that the Forbes project is real, real landing, zero risk, no bubble. Unlike other deceptive projects, which will forcibly exchange the proceeds into the project token, the users can freely choose to exchange the mining proceeds for GFS, and they can also freely choose to purchase GFS mining machines in the future. It doesn't matter if you don't look forward to Forbes project. It's good to make bitcoin mining money in a safe and stable way. After all, everyone's cognition is different and their risk tolerance is different.
For me, such a solid project is hard to see in the currency circle. Forbes is not only real, but also does not adhere to the traditional entity mining, and the innovative introduction of no foam promotion mode. It can be predicted that this mode is sustainable development, and even I look forward to challenging the top mines of bitcoin. The earlier I participate in the project, the more meat I can eat. This is the essence of my participation in many projects. My mining income has been converted into GFS certificate almost the first time. After all, Forbes project has just started, facing a vast ocean to be developed.
报错
submitted by forbeschain to u/forbeschain [link] [comments]

Forbes miner's union plan, let you make it clear

Forbes miner's union plan, let you make it clear

https://preview.redd.it/51dwnbfy30451.png?width=900&format=png&auto=webp&s=79b57b192df4f4f11f0c7eb6ae849b169891f37c
Learn from famous teachers: Dao organization comes from Cosmos, poca and other well-known open source projects as well as a number of Wall Street financial practitioners
Grounded Technology: the core research direction of blockchain developers "cross chain"
Looking at finance: building distributed financial infrastructure
Layout of mining industry: "mining machine, mine field and mine pool", and strive to build a trinity of mining giant whale in 2020
In 2020, Forbes, the most concerned blockchain 4.0 project, is about to launch its global mining plan: Forbes has released its own ASIC chip bitcoin miner, and GFS hard disk miner is under development. At the same time, Forbes deployed mines in various regions of the world, including China, Southeast Asia, the United States, Australia, Russia and other places, to protect the "consensus".
Forbes receives f2pool Based on the deployment of mining machines and mines in 2020, the Forbes plan will be launched with the strong support of internationally renowned mining pools. It is expected to build into the world's largest, most open and transparent comprehensive mine pool within three years.
Miner and quarry
Blockchain is revolutionary. It allows anyone to own and transfer assets through an open financial network without a trusted third party. There are now thousands of blockchain based assets, and the main way to produce encrypted assets is mining. "Mining", i.e. encrypted assets, represents the wealth anchored by the blockchain system, "mining" is the most direct means for all the network to obtain wealth. When the miner obtains the right to pack the blocks according to the consensus rules based on cryptography, and packages all the transactions correctly, the mining behavior can obtain the reward (token) given by the blockchain system for its honest record of the blocks, and when the blockchain system gains value promotion due to the growth and development of the participants, the token obtained by the miner will also be given higher and higher The secondary market value of. The miners produced the initial system pass. Therefore, mining industry has become the most upstream of blockchain industry.
It can be said that mining industry is the foundation of the whole blockchain industry, which determines the 0 or 1 of a blockchain system. The mining equipment we use is the miner.
https://preview.redd.it/jvfi6mfg40451.png?width=780&format=png&auto=webp&s=19dad192911d4a9addc1d285c7db5491c75904b0
The miner is essentially a computer. Personal computer is generally composed of CPU, GPU, memory, hard disk, motherboard and other devices. Mineral machinery is no exception in nature. Any mineral machinery is composed of motherboard + hard disk + mining chip. However, due to different mining machines for different algorithms of digital assets, such as GPU (or ASIC) for BTC, ETH mining, CPU for Monroe money mining, hard disk for IPFs, Bhd and other projects mining.
Forbes mining machine in the main board, hard disk, mining chip innovation, Forbes uses dpoc consensus algorithm, belongs to the hard disk mining branch. Forbes with the strongest computing power is also in the field of the Internet of things. In foreign countries, everything is connected, hundreds of millions of intelligent devices are connected with each other, and they have super computing power and stability. Forbes mining machines all over the world will be very suitable for the deployment of Internet of things protocol, and become an important component of blockchain + Internet of things.
The mine site is the offline site for the deployment and maintenance of mining machines. But for ordinary investors who want to enter the market, mining is difficult because the mining threshold is too high. Personal users want to mine, there is a huge deployment threshold and technical threshold. First of all, individuals can not get excellent electricity price, high temperature and high noise environment makes it impossible for users to mine at home. In addition, mining needs to be configured and deployed, and expensive mining machines need to be maintained regularly. Musk said that Tesla is not selling cars, but workshops. Standardization is necessary for an industry to achieve success. In the early miner Alliance Plan, Forbes launched its own BTC ASIC chip and bitcoin miner. At the same time, combined with major capitals, it created a global standardized Forbes mine, which was deployed and maintained in a unified way, greatly extending the service life of Forbes miner. According to the simulation test, Forbes I miner can operate stably for more than six years, which greatly reduces the mining cost and enables investors to obtain higher profits. Later, Forbes will log in to the Forbes hard disk miner in the ore pool after the main network goes online.
Forbes miners Alliance Program
Miner Alliance Plan: during a period of time when Forbes main network goes online, users can use collateral parallel chain assets (such as usdt, BTC, etc.) to lease computing power to deploy mining machines in global mines. In the lease term, the deposit is returned by the smart contract according to the number of days, and the mining revenue is obtained by the early participating nodes.
Due to the cross chain implementation of Forbes, a large number of nodes need to be deployed in the early days to complete the information interaction between the relay chain and the parallel chain. And with the scale of ore pool access, the marginal cost of new mining machines will be lower and lower, and the revenue will grow steadily. Therefore, Forbes started the plan of Forbes miners' alliance, realized the rapid scale of the mining pool with market funds, and realized the stable growth of mining profits.
Through the miner alliance, users can rent mining machines. In the form of "deposit contract" to ensure that each miner's fund is dedicated, and at the same time, for each miner, it is considered to realize the real deposit settlement on schedule through the blockchain intelligent contract. After the Forbes miner generates mining revenue, the user will get kusd stable currency. In the operation plan of Forbes Dao, all the miners who join the mine have the opportunity to convert part of the profits into GFS with unlimited potential.
It is estimated that the early participants in the Forbes miner's program will have more than 1.6 times the deposit during the lease term of one year. It was asked where such gains came from. In fact, as a representative project of blockchain 4.0, the appreciation of GFS is inevitable. At present, the trading of GFS secondary market has increased by more than 10 times in a week. With the continuous extension of parallel chain and the continuous exploration of financial business, there is almost no doubt that the growth of GFS exceeds that of bitcoin in a year, even if it is halved. Forbes Dao mass produces Forbes super miner through the digital assets mortgaged by users. After the cost is removed, it covers more than 1.6 times of the revenue to nodes. Almost the secondary market value of GFS alone is far beyond.
In addition, the BTC value dug out in the miner's Alliance plan will become a stable support for the miner's Alliance Plan, and 2020 is known as bitcoin minus half a year. Get BTC while digging GFS. To say the least, the price of GFS has fluctuated, and the BTC dug out is actually stable. Not to mention that the layout of Forbes gold stable currency, Forbes DEX and so on has been dragged down, and the user's income is cashed at any time. Forbes' miner plan is a three-way and multi win business initiative, which is the distributed power.
submitted by forbeschain to u/forbeschain [link] [comments]

Leads you to a comprehensive understanding of Forbes

Leads you to a comprehensive understanding of Forbes

https://preview.redd.it/1dra1br1xu351.png?width=740&format=png&auto=webp&s=925b38326cb8aa4f4b2863670ada61005ee72c4c
What is the hottest blockchain project in 2020?
Besides GFS, GFS is still GFS in my mind! GFS currency - the only token of Forbes cross chain blockchain!
Forbes is the latest generation of blockchain, which can be said to be a new blockchain mode, or it is not a pure blockchain project. As we all know, in the era of blockchain 1.0, the bitcoin of Nakamoto brings decentralized distributed bookkeeping book, which enables human beings to have just assets for the first time; in the era of 2.0, the Ethereum smart contract created by V God makes the blockchain have divergent applications; in the era of 3.0, innovation public chains such as EOS make the application of blockchain easier to land. It will open Forbes in the era of blockchain 4.0 and create a distributed financial era of "ten thousand chain interconnection". My feeling is that Forbes is going to overthrow the traditional Internet and the classic blockchain, and reshape a financial world built directly on the blockchain.
The most classic sentence on the Internet is: change your life, but it has nothing to do with you.
In this way, Forbes uses the philosophy of blockchain and further technology to redo blockchain and bring blockchain to a new dimension. Today's bitcoin looks like a monument and a myth, but Forbes is using its cross chain technology and financial deployment to gently reinterpret the blockchain.
Next, I will expand what you are concerned about and what I see in the form of Q & A:
1. Is it investment or speculation to participate in Forbes?
Although we do not exclude speculation, there is no doubt that participating in Forbes is one of the best investment behaviors in 2020, no less than investing in bitcoin in 2013 and Ethereum in 2016. Forbes is a pure technology project, with no messy black box operation. As Forbes early deployed the ore field to facilitate the construction of cross chain system, early users can rent the Forbes BTC miner loaded with self-developed bitcoin ASIC chips by way of mortgage, with the strongest configuration on the ground. Moreover, in the process of mining, the early nodes do not even need to pay a penny, only mortgage deposit can deploy the physical miner. The income obtained can also participate in the early stage node plan carried out by Dao organization, and part of the income can be converted into GFS through Forbes wallet.
And the deposit is not a routine, all the mortgage deposits will be locked in the chain. With the shortening of the lease term, each day will be returned to the user's wallet through the "deposit smart contract", without any centralized individual and organization participation in the whole process. In this way, it is equivalent to zero risk investment! After all, Forbes, with its cryptology and open source spirit, is inherently powerful. What Forbes wants to change is the life of centralization!
And then there's no more. Jane is not simple.
2. Why do you like Forbes?
Very simple, blockchain 4.0
First of all, let's not talk about anything. Forbes has solved a problem - mining hegemony.
In the past, blockchain seems that nodes can enter and leave freely, but in fact, it needs a huge threshold to become nodes and obtain mining rewards. Whether it's bitcoin, you need to buy very expensive and complex mining equipment (ASIC miner), or EOS, Tron and other POS projects, and you need to hold a large number of coins to be elected as nodes. All in all, most of the current blockchain systems need very high mining costs, which in essence violates the principle of zhongbencong's blockchain design.
The powerful thing about Forbes is that it creatively constructs dpoc as a consensus mechanism of trunk chain (main chain). Dpoc is a kind of common understanding of POC. There is no big deployment threshold for mining with hard disk miner. As a result of the consensus between Forbes blockchain Multi Chain Design and dpoc, all mining machines that do not have the relay chain node selected can pack the interaction information between the parallel chain and the relay chain, and can also obtain the block reward. In essence, such a design realizes Zhongben Cong's idea that everyone can dig. Let alone Forbes to build a mine pool, to build the strongest mining machine that can dig out the Forbes token GFS.
With this in mind, which blockchain product can match.
Layout of Forbes
The vision of Forbes: to build the most universal distributed financial system in the world, driven by Forbes, the most widely used cross chain system in the world.
I saw two key words: cross chain, distributed Finance
Cross chain is the most urgent problem in current blockchain ecology. In the past 10 years, various blockchain systems have been deepening in security and performance, but no progress has been made in chain and chain scalability. As you can see, the chain and the chain is an island. Can EOS players and wave players break the bond?
In the human financial life, transaction, loan, personal credit, supply chain finance, stock, commodity... They are directly full of interaction and connection. It can be said that human beings are dealing with all kinds of transactions all the time. Can the isolated blockchain really solve the problem?
Forbes is born to be a global distributed financial system and truly a financial ecosystem. Imagine what a change it would be if you could smoothly carry out blockchain financial activities with foreign small partners. This pattern is too big for me to say. But please believe that if this is done, it can be described as a complete disaster.

https://preview.redd.it/ee15vfv8xu351.png?width=1450&format=png&auto=webp&s=b36e2aa2548e0320b127d30e67d28511a666b30b
3. Is it better to mine or invite new people?
Since this is my experience interpretation, I think: invite, boldly invite new people. Every time you invite one, you add a certain amount of calculation power. It's good to mine in Buddhism, but if you can participate in the birth of a great project, you can get more profits. Why not?
Let's take a different perspective: now that you recognize Forbes, you recognize its value. Or you're not going to dig, are you! So, why can't we add more yards! Since we are trying to change our destiny, this is the highest lever. If it does, which lever can be bigger than Forbes!
So, invest money or energy, and do what you can.
4. Do I want to join the Forbes pool project?
Do you want to do it.
They all recognize the value, so they can download the application directly.
My original intention:
First of all, GFS coin is a new mining model - POC hard disk mining that "everyone can dig, everyone can benefit". It avoids pow (proof of work workload) which is a large power consumption mode. In the initial stage of the main network online, Forbes opened the mine pool plan, leasing the mine machine at zero cost, becoming the earliest node of blockchain 4.0 representing the project, and obtaining the maximum benefit. Why not? You know, GFS production is also halved in four years. To dig now is to dig bitcoin before 2013, without cost.
Secondly, in this stage, we can also increase the number of invited nodes. After the completion of the mining pool plan, we can only rely on hard indicators to increase the computing power. Now we can also rely on our efforts to get more profits. Therefore, in the face of equal opportunities for all, this is a great opportunity to take the initiative. Still hesitant?
5. Blockchain is my knowledge blind area. What can I do if I don't understand cross chain knowledge?
First of all, you have to ask you, this is the excuse you don't want to get wealth?
Not only Forbes is your knowledge blind area, but blockchain is a knowledge blind area for ordinary people. However, you should know that in 2020, the State advocates blockchain, the central bank DCEP has been put into trial operation, and blockchain has been applied in many aspects. Are you still in your blind spot?
Of course, it's not good to pull the national flag. Let's talk about something practical. Opportunity always appears in new things. Ask, what's the matter with you, a solidified model? You have money or connections. I believe that choice is more important than effort. A road, if we choose the wrong direction at the beginning, the harder we work, the farther away we are from our goal.
Therefore, the knowledge blind spot is not my problem, but whether you have a heart willing to contact new things!
Among the miners I know, there is a 67 year old elder brother who has been a soldier, a factory, a traditional businessman and a cell phone. Do you still have his blind spot?
6. Will Forbes succeed?
To be honest, I don't know. But I know that it is the blockchain project that I hope to reach the most in 2020. For details, please refer to the second question, why I like Forbes. If you really question Forbes, you can choose to only participate in the "miner Alliance Plan" and choose to mine at zero cost. No matter how the Forbes project progresses, you can get the benefit of mining without cost. Why not? Besides, when the Forbes project is really implemented, you can decide whether to invest in GFS. I'm sure you will have your own judgment at that time.
7. What is the most important thing to dig GFS?
Insist, insist, or insist.
We must make full use of our efforts in the earliest planning activities of the mine pool. After all, mining at zero cost + inviting to increase the calculation power and increase the support in the wet season. At this stage, we must dig more coins and exchange more for GFS. Maybe the reward coins you dig out in three months can't be found in a year after you try to buy hard disk mining machines for nodes.

https://preview.redd.it/wi81roocxu351.png?width=750&format=png&auto=webp&s=0cd677f420071cfad942e426d4b415165915c2d0
8. There are so many people who rent mining machines first. Do I have a chance?
People die more than people, and goods are thrown away more than goods. Don't compare with others, just be yourself.
God said, I can fulfill your one wish, but I will give you twice as many neighbors.
You will choose 10 million positive choices,
Or one less arm in the dark?
Mining is like this. Those old miners are your neighbors. Dare to own 10 million good, do not think about neighbors than you 10 million. Is that right? And when there are 10000 GFS, do you still want someone to have 100 more than you?
9. How much is GFS worth?
To be honest, I don't know. The number of GFS is 21 million bitcoin, and the price of bitcoin is about 60000 yuan. The GFS main network has just been launched. In some markets, its price has increased more than 10 times in five days, far exceeding the price of bitcoin before the half reduction. The miners who rent mining machines in advance are blessed.
As for the future, with the start of the implementation of blockchain financial facilities this year, GFS must be just the beginning. Where is the top? We witnessed it together.
10. Which do I want, kusd or usdt?
For now, it doesn't matter which one you use. Although usdt has a lot of potential risks, there are still many people using it. However, we all know that it will have a thunderstorm sooner or later.
As a cross chain gold stable currency, when cross chain finance begins to integrate into public life, kusd will show its power, which is better than issuing a usdt once in a chain. Moreover, more than 95% of the value of each kusd is based on gold, which can be exchanged by major gold exchanges in the world. The stability of gold. Have you seen it clearly in this epidemic? This is beyond the dollar.
submitted by forbeschain to u/forbeschain [link] [comments]

Why is power contract mining a trend advantage?

Why is power contract mining a trend advantage?
What is BTC mining:

Details of the link https://giexhelp.zendesk.com/hc/zh-cn/articles/360045405193

https://preview.redd.it/a7hthb8ukrq41.jpg?width=960&format=pjpg&auto=webp&s=aeab15b7bdbb16892deacbcdf15b37047f028dcf
What is the force contract?

A power contract is essentially the purchase of a power contract with a term on the cloud power platform to mine bitcoin. It is a way to achieve win-win benefits for users. When mining, individuals generally do not have a lot of time to manage the mining machine, and a small amount of mining machine computing power has not reached the demand, so they can join the cloud computing power, so that users can buy computing power contracts and earn bitcoins mined by the corresponding computing power.

https://preview.redd.it/fm4whtqxkrq41.jpg?width=960&format=pjpg&auto=webp&s=e5911565c96c27d732727e307c4ab92a10f75c8a
Advantages of cloud computing power

Entity usually need to go through to purchase mining and mill ore - finding premises - erection machine - set mining - to earn profits, cloud is the biggest advantage of the force is to go to in addition to ordinary users face mining complex, the process of gradually popularization, the cloud to calculate force will become the main mode of the future mining, can provide users with more choices, cloud mining operation is very simple, users can save a lot of time.

GIEX power contract details:
https://giexhelp.zendesk.com/hc/zh-cn/articles/360044878974

GIEX power contract:
Please focus on Giex.com https://www.giex.com/cloud-mining-contract

https://preview.redd.it/8x2awx4xkrq41.jpg?width=960&format=pjpg&auto=webp&s=117dd1bdc50fad666f91a1b928f62ad468514b5a
submitted by GiexExchange to u/GiexExchange [link] [comments]

Bitcoin Is Here to Stay | nuv mining

The following phase in the Bitcoin revolution will certainly be the standardization of the exchanges where the coins are traded. Bitcoin is presently in bush West miner days of its development. The globe has actually concurred that a Bitcoin provides a saved action of value in the same way that gold and silver have throughout the ages. Like gold and silver, Bitcoin is only worth what the various other person wants to pay you for it. This has actually brought about dishonesty since trading started. Crooked scales and also loaded ore all became part of the standard as both the miners as well as the assayers sought to pad their profits. This brought about governmental oversight and the production of central exchanges.
nuv mining
The Bitcoin dream has actually been to police its own community and also continue to be past the physical scrutiny of any type of international federal government. The Optimistic desire was shattered a month back when Mt. Gox, by far the biggest Bitcoin exchange, closed down because of a protection breach and burglary of about $300 million worth of Bitcoin. Customers that had Bitcoin on deposit with Mt. Gox still do not recognize just how much they'll come back. The issues at Mt. Gox lay bare the cyber safety argument. Remarkably, Bitcoin as a money has revealed amazing resilience. This resilience can quite possibly be just the increase required to legitimize the money and the lean in the direction of governmental involvement that might in fact aid this fledgling store of worth skyrocket to its conventional capacity.
nuvmining
The timing of the Mt. Gox case may show to be an advantage for the currency. Tera Team, out of Top New Jersey, currently had suggested a bilateral contract to the Commodity Trading Futures Compensation (CFTC) to begin trading Bitcoins with a swap-execution facility or, central exchange. The huge majority of industrial currency trading is done via swaps arrangements which is why we comply with the business traders in our own trading. A swap contract is essentially an insurance policy that supplies a guaranteed worth at a details point to secure against money changes. It's what the product exchanges are established on. The swap markets are the superhighways of the economic market. They refine substantial quantities while accumulating a small toll on each transaction. As a result, the price on the individual swap is tiny however the large quantity of swaps refined makes it a significant revenue source for all of the significant financial institutions.
The CFTC has yet to discuss Tera Team's proposal. We commented in November that Bitcoin had transcended novelty status which the revenue swimming pool was becoming too big for international financial institutions to neglect. Bitcoin's durability despite the Mt. Gox debacle is a testament to the power of an international grassroots movement. Bitcoin must have plunged across the globe as owners of Bitcoins tried to exchange them for hard currency. The marketplace's reaction became very organized. While rates did fall across the board, the market appeared to understand that it was a specific firm's issue as well as was as a result constrained to Mt. Gox customers' capability to obtain their cash out. Consequently, Bitcoin costs have actually maintained around $585. This is well off the December high of $1,200 but very near the average price for the last 6 months.
The last together timed item of the structural transformation from Bitcoin as an anarchist, alternative store of value that exists outside the institutionalized monetary market to being integrated right into that very same financial system is its capacity to be taxed by the brick and mortar federal governments it was created to circumvent. The Internal Revenue Service ultimately made a decision adequate suffices and it wants its cut. The Internal Revenue Service has declared Bitcoin as property instead of money and also is for that reason subject to residential or commercial property laws instead of currency regulations. This permits the Internal Revenue Service to get their share while legitimizing the demand for a main exchange to determine value. It additionally gets rid of disagreements with the U.S. Treasury and Congress over lawful tender concerns. It's merely valued as a good that can be exchanged for other products as well as solutions, barter.
submitted by Nuvmining to u/Nuvmining [link] [comments]

The 8 Skills to Be a Good Miner

Many people may feel quite confused about their low profit now. Maybe you forget to think about the small details when you are mining. Small little details will make big difference in your final income.
Now, i want to share you the 8 skills to improve your benefits.
1, Get a cheaper power
Everyone knows the power is the most charge in mining, if we can find a cheaper electricity, it will be good. So, how to get a cheaper electricity?
55% of the mining is in China, and 40% of the mining is in Sichuan China. Why? Because there are many hydroelectric power station in there. So, you can find a place near the station and get a cheaper electricity from them.
If you can find free electricity, it is the best anyway
2, Choose low w/t machine
As you know, low comsuption machine is very popular those days, like S17 pro 53t, T17 42t. They are 7nm technical, the w/t is low and it can even overclock, it maybe a good choice. Also, we need to consider the price of machine.
Cheap price machine means fast ROI, But low W/T machine has a bright future.
3, Buy miner when BTC begin to raise after long drop
When BTC price keep falling, of course the machine will be cheaper and cheaper. When the BTC price begin to raise, we can buy miner at that time, because the price is the cheapset and you can earn money back soon.
Normally at that time, the good machine will be sold out quickly, when the market feedback that those machine are good, you may be late to get the chance. So, make your plan for purchasing before, when price down, get them.
4, Do not forget BCH, BSV, ZEN coin
Do remember SHA-256 Algorithm can mining BCH and BSV as well. Sometimes those coin may get even a better profits than BTC.
Some miner has auto setting for BTC, but you can choose BSV and BCH mining if you set it,
5, Notice the half reward period information
Because the half reward time is coming in 2020, there will be a chance or a risk for it. Many low hashrate machine may be out of the style and high hashrate will be more competitive.
Low your risk and not to buy those cheap machine now
6, Choose a good future crypto currency
There are many coins in this field now, we need to analyse and find a better direction for mining. Like Z11, many people use it for ZEN mining nowadays, and their benefits is top now.
Also, people buy many S17, it can earn money back before next year half reward time. And they believe the BTC price will increase creazily as last two times.
7, Make plan for your selling of coin or machine
As you know, the price of the BTC changes everytime, we can mining the BTC first and keep it in hand, do not sell it every day. It is very stupid. Just sell it when price high, you do not need to take any risk if you do not buy BTC directy. We do not need to care about the low price situation, we only need to wait. When chance come, get it.
Same for machine
8. Don't be fooled by the mining calculator
Many sites calculate mining profits based on hardware and electricity prices. If you've never mined before, you might be happy to see the numbers provided by these websites and calculators and think, "I'll make a fortune!"
However, these websites don't tell you: in addition to the cost of electricity, there may be other current costs, such as maintenance, cooling, rent, labor, etc. Generally, the hash rate and power consumption of the device are slightly different from what the factory says.
This difference is more common in unpopular brands. You can better understand the actual hash rate and the actual power consumption by watching the miner test video on YouTube. In addition, depending on the distance from the meter to the device and the type of cable used, the power loss from the meter to the device can be as high as 200 watts.
In addition to the cost of mining machines, some initial costs are required to prepare the infrastructure, such as cooling and venting, cabling and distribution, shelves, network and monitoring equipment, safety measures, etc.
The network difficulty is constantly changing and increasing at a significant speed, which directly affects the mining revenue. You can check the bitcoin network difficulty chart to see its growth rate, but your miner will not always be 100% active.
Due to maintenance, network problems, ore pool problems, power problems and many other problems, the miner may be offline for several hours. I suggest that you consider setting the normal operation time of the miner to less than 97% when calculating. We have rich mining experience in professional ore pools, and the normal operation time of these mining machines will not exceed 97-98%.
Thats all, hope those information will help you become a good mining investor.
submitted by 15Ansel to BitcoinMining [link] [comments]

CRYPCORE'S STABLECOIN FUNCTIONS AS RELIABLE SOURCE OF INVESTMENT

CRYPCORE'S STABLECOIN FUNCTIONS AS RELIABLE SOURCE OF INVESTMENT

https://preview.redd.it/c4e59xtv4rj41.jpg?width=869&format=pjpg&auto=webp&s=3e31395c3368e4895de070bcf92d4ac4da42b33e
Cryptocurrency volatility has always been a major characteristics that most traders find beneficial while for others, it is observed as intensely inconvenient. The peculiar characteristics of price swings cannot allow cryptocurrency to be a perfect medium for payments and exchange, because it's price value is unpredictable and changes more than twice in a given month. Researchers have taken up action to develop creative means to handle this problem of volatility and a new kind of cryptocurrency named "STABLECOIN" was developed to be the solution desired by crypto traders. Stablecoins are digital currencies utilized as means of exchange and store of value because it's value remains stable. Developed to be a cryptocurrency implies that stablecoin operates on a standard level that is not controlled by central authority, thus provides anonymity, security, decentralized features and efficiency coupled with low volatility characteristics of fiat money. Despite stablecoin features of displaying characteristics pertaining to conventional cryptocurrencies, the price level of stablecoin won't be determined by abstract factors which leads to variability. Instead, stablecoins are pegged to rate and value of commodities with price stability such as gold , ore, silver and many more. The benefits and increasing number of stablecoins continues to gain momentum and fame which serve as catalyst to maximize the adoption of cryptocurrencies as a medium of daily transactions and payment. Therefore, stablecoins helps traders and business owners to possibly avoid volatile market swings, mitigating risks that leads to loss of monetary value of users funds. However, stablecoin has been shown to have some disadvantages which is unappealing to businesses and trading activities. Unlike convectional cryptocurrencies, stablecoins cannot be used as an investment asset because stablecoins are highly dependent on assets it is bonded to. For example, an asset worth 50 USD purchased with stablecoin will remain 50 USD in the future. Another issue is trust, due to the nature of centralized banking system, most individuals believe that stablecoins pegged to fiat money cannot provide sufficient anonymity for their owners. These challenges have hindered the use of stablecoins by traders and business owners, thus Crypcore was developed to provide necessary solutions to the challenges faced by modern day stablecoins. CRYCORE ECOSYSTEM Forked from Monero, Crypcore is designed on cryptographically secure and anonymous crytponote protocol, wherein Crypcore ecosystem integrates a reliable solvency equation, flexible cryptocurrency exchange and efficient crytponote protocol to build a coin with stable price. The Crypcore stablecoin will not operate as a convectional cryptocurrency stablecoin but as a dynamic stablecoin which offers innovative means in securing price stability in mainstream markets. Before going further, let me briefly explain about cryptonote protocol and solvency equation for benefits of those unaware. CRYPTONOTE PROTOCOL Cryptonote protocol is developed as an application layer that handles issues related to Bitcoin protocol. It was first introduced in 2012, some famed coins such as bytecoin and Monero utilize it due to it's advantage of being more efficient than bitcoin protocol. Cryptonote offers these coins benefit of providing more high level of privacy than other cryptocurrencies. Crypcore developers aims to provide more anonymity standards to their end users, which is why they leveraged the version of cryptonote protocol forked from Monero and therefore, possess features related to Monero in all aspects. SOLVENCY EQUATION The solvency equation integrated into Crypcore exchange spearheads pricing of Crypcore units. Use of solvency equation ensures that Crypcore stablecoin (CRYP) will not be pegged unlike traditional cryptocurrency stablecoins, instead price of CRYP is regulated when Crypcore exchange utilize crypto collateral to process transactions which increases stability of CRYP and eliminates price swings. Cryptonote protocol and solvency equation are important factors that helps to maintain growth of Crypcore ecosystem. The developers have also created other unique features to support the development of Crypcore which includes ; Crypcore mining, Crypcore wallet, Crypcore exchange and Crypcore blockchain. CRYPCORE BLOCKCHAIN Mainly consist of cryptonote protocol and block explorer. This two components of Crypcore blockchain provides low transaction fees, high speed, security and transparency for any type of transactions performed within Crypcore ecosystem. CRYPCORE WALLETS Crypcore wallet is designed to be accessible and non-complex for easy understanding. The wallets are secure and developed with counter measures against hacks, thus competent for securing funds of users. CRYPCORE EXCHANGE The exchange serve an important role in regulating prices of CRYP. Using the exchange solvency equation as explained earlier coupled with fees charged within Crypcore exchange will be used in managing price of Crypcore stablecoin. Fees acquired are used to increase collateral, then strategy of averaging is implemented which increases the value of CRYP to meet up with price swings, significantly provides good profit for owners. This implies that in contrast to conventional stablecoins, CRYP will be a good source of investment. Crypcore exchange is created with high quality security systems to protect funds against frauds and hacks while debit card integrated feature will enable traders to purchase cryptocurrencies conveniently. CONCLUSION Crypcore ecosystem establishes more opportunity for cryptocurrency enthusiasts to benefit from advanced crypto trading included with issued dynamic stablecoin that gives out profit to holders, regardless of the market volatility. For more details : Website: https://crypcore.com/ Whitepaper: https://crypcore.com/crypcore\_whitepaper\_version\_1.pdf Telegram: https://t.me/crypcore\_group Facebook: https://www.facebook.com/Crypcore-106479097438958 Twitter: https://twitter.com/crypcore1 Reddit: https://www.reddit.com/usecrypcore My Bitcointalk Username : Johnson Knight Bitcointalk Profile URL : https://bitcointalk.org/index.php?action=profile;u=2326370;sa=summary Wallet Address : 0x56D391aD6C5Fe4b4faee3FCF9C7D32D9BD2feeCA
submitted by Cryptosaurus94 to CryptoCluster [link] [comments]

[AMA]Am petrecut 2 ani și 6 luni într-un centru de detenție pentru minori. ama

După cum spune și titlul, am petrecut 2 ani și 6 luni într-un centru de detenție pentru minori (două, de fapt, și multe alte penitenciare).
Vreau să fac un vlog pe tema asta și sunt curios care sunt întrebările oamenilor și care este viziunea din exterior despre lumea penitenciară.
Pentru ce am ajuns acolo, am scris mai de mult într-un articol pe blogul personal (între timp l-am șters, dar vi-l las mai jos).
Ce e mai jos e doar un rezumat a întregii povești. Sunt multe lucruri despre care cred că ar mai fi loc de vorbit, așa că vreau să realizez un material mai complex despre treaba asta. ama!
După cum scrie și pe pagina „Despre mine”, da, am fost închis într-un centru de detenție pentru doi ani și șase luni, așa că o să detaliez un pic povestea asta.
Făcând un pic background check pentru a se înțelege, ai mei mi-au luat calculator pe la 6 ani. Chestia asta m-a prins, mi-a plăcut și am început să aprofundez. M-a atras în special gamingul și am făcut și ceva programare web (html, css, js).
7 ani mai târziu, în 2012, acasă, plictisit pe Internet. Google „free riot points cards”, la momentul ăla crezând că lumea încă oferă lucruri gratuite pe Internet și că un search pe Google o să mi le aducă pe toate mie, propriei mele persoane atât de importante într-un Internet atât de mare. Click, click, click, pagina 2, click, click, pagina 3, click click, . . . , pagina 8 – „Free carded RP game codes – sitedecarding.com”.
Da, am găsit coduri RP gratuite. Ca idee, punctele RP sunt puncte plătite într-un joc numit League of Legends. Coduri despre care nu știam la acel moment că au fost achiziționate de un tip dubios de pe un site de carding (=fraudă informatică prin instrumente de plată electronice) și care le-a postat acolo ca să atragă clienți pentru serviciile pe care le oferea.
Long short story, mi-am făcut cont, am luat două coduri gratuite, au funcționat. Minunat fiind de modalitatea prin care tipul ăsta putea să ofere și să obțină gratis lucruri care în mod normal costă bani, am început să navighez din ce în ce mai des pe site-ul în cauză (site pe care nu o să îl menționez aici din motive etice) și să învăț despre lucrurile astea. Am învățat cum să obțin date de identificare ale cardurilor bancare online, cum și unde pot să le folosesc, cum să identific și să profit de vulnerabilități ale serverelor online pentru a obține genul ăsta de date și alte lucruri de genul ăsta. Chestia asta chiar m-a prins rău de tot și după ceva timp tot ceea ce făceam în fiecare zi era legat doar de lucrurile astea și încercam să îmi perfecționez cât mai mult metodele de fraudare pentru a obține un profit cât mai mare. Am început cu timpul să obțin lucruri mai valoroase și să fac bani mai mulți, pentru că aveam cunoștințe din ce în ce mai avansate. Comenzile pe care le făceam la început, folosind date de carduri oferite de alți membri ai acelei comunități în mod gratuit după ce erau folosite de ei și prin care obțineam tricouri, brelocuri, abțibilduri și tot soiul de lucruri mici și ieftine s-au transformat în comenzi efectuate cu date de carduri pe care le obțineam pe cont propriu prin diferite metode și care îmi aduceau electronice scumpe, bijuterii și chiar transferuri de bani în valută ori monedă digitală Bitcoin.
Toate au mers frumos, până în luna august a anului 2013. M-am trezit într-o zi pe la cinci dimineața, încrezător fiind că o să înceapă o nouă zi plină de satisfacție pentru mine și gândindu-mă chiar din primele momente după ce m-am trezit ce aș vrea să obțin în ziua aia, având ca referință zilele și săptămânile trecute în care deja obținusem și cheltuisem o grămadă de bani și cu dorința incredibil de mare de a avea și mai mult. Stăteam pe canapea, navigând pe iPhone-ul meu. S-a făcut ora șase dimineața, sună interfonul. Mă duc să răspund, nu se aude nimic. Mă întorc din nou pe canapea. Sună din nou. Se duce tata – „Poliția, deschideți”. Tata a apăsat pe buton, primindu-i pe neașteptații vizitatori în scara blocului și în nici două secunde ofițerii DIICOT Bacău și BCCO Bacău erau la ușă. Cioc, cioc – „Poliția, deschideți sau spargem ușa”. A deschis. Șapte ofițeri în civil au intrat în apartament cu mandat de percheziție și mandat de aducere pe numele meu. Mi-au răscolit toată casa, confiscându-mi toate dispozitivele pe care le aveam și micul depozit de obiecte pe care îl formasem în apartament. După aproximativ opt ore de percheziții, atât în apartamentul în care locuiam la acel moment cât și la casa părinților mei de la țară, am fost prezentat în fața unui procuror la sediul DIICOT Bacău. Menționând aici incredibila dezvoltare fizică a corpului meu (momentan am 1.80m, 54 kg) – gândiți-vă că eram mai scund și mai slab atunci – imediat ce am intrat în biroul procurorului m-a și întâmpinat cu sintagma „Marele infractor NUME AICI. Bine ai venit, ia un loc”. Dacă nu aș fi fost în situația aceea, m-ar fi bufnit un râs teribil la auzul acelor cuvinte. Dar în ciuda circumstanțelor în care mă aflam, râsul nu era chiar primul lucru pe care îmi venea să îl fac. Continuând, după încă 3 ore de audieri, mi-a spus în final lucrul pentru care mă rugasem deja de o sută de ori în gând în timp ce stăteam pe scaunul ăla din birou, cu ai mei într-o parte și avocatul în cealaltă: „Bun, noi am terminat aici. Tu o să te duci acasă acum și o să te chem eu iar altă dată. Ești liber”. Nu am putut să mai reacționez în momentul ăla, am schițat un zâmbet, am dat bună ziua și am plecat. Lucrul ălă, care la acel moment mi s-a părut cel mai bun lucru care mi s-a întâmplat în viața mea, avea să îmi schimbe în mod drastic viziunea despre lume și cum funcționează lucrurile și aveam să plătesc mult mai scump pentru asta.
Mai exact, după încă aproximativ 3 luni am început să fac din nou aceleași lucruri. În astea 3 luni am mai fost chemat o dată la DIICOT și am participat la perchezițiile informatice care au fost efectuate pe dispozitivele care mi-au fost ridicate la percheziția domicilară. În viziunea mea de atunci, am dat cu subsemnatul odată și am stat la caterincă cu niște gabori într-un birou la BCCO, care mi-au cumpărat chiar și o cafea. Ce dracu` s-ar putea întâmpla mai rău de atât?
Așadar, mi-am reînceput activitatea, cu siguranță deplină în faptul că dacă aș mai fi prins încă o dată repercursiunile ar fi fix aceleași, că mie nu o să îmi facă nimeni nimic pentru că ceea ce fac nu e atât de grav și cu un nivel de securitate mai sus în ceea ce privește modul în care făceam lucrurile. Și am continuat în felul ăsta o lungă perioadă de timp, doar că nivelul mai mare de securitate implica tranzacții mai restrânse și posibilități de monetizare mai puține, lucru care de asemenea avea să mă influențeze mai târziu.
Timpul a trecut, și iată că am ajuns în luna martie a anului 2015. Între timp judecata procesului începuse la Tribunalul Bacău și mă afișasem de mai multe ori în fața instanței, eu lipseam de la școală pentru că nu îmi plăcea și nu o consideram importantă, lucru pe care îl susțin și acum dar care s-a reflectat într-un mod negativ în raportul efectuat de Serviciul de Probațiune în ceea ce privește persoana mea (raportul fiind o procedură obligatorie în cauzele cu minori și care încearcă să formeze o imagine de ansamblu asupra inculpatului, mediului din care provine și familiei acestuia). A venit și ultima zi a procesului pe fond și dezbaterea cauzei. Printre multe alte întrebări și concluzii, judecătoarea a menționat și „Domnule Bla, văd că în ciuda insistențelor și avertismentelor pe care vi le-am dat, tot nu vă faceți ceea ce ar trebui să faceți”. Iar lucrul care m-a revoltat cel mai tare a fost remarca morală pe care tot judecătoarea a făcut-o pe un ton deloc neprietenos și pe care dacă l-aș fi folosit eu aș fi fost acuzat că am un comportament neadecvat în sala de judecată: „și eu am avut o fată la școală, chiar în alt oraș, care stătea la cămin și îi trimiteam pachete prin tren. Și chiar în felul ăsta a terminat liceul și facultatea dar nu a lipsit de la școală. Tu ai toate condițiile și facilitățile de care alții nu beneficiază și nu te interesează”.
O să fac o pauză aici ca să spun că respect toate deciziile pe care instanțele de judecată le-au luat în ceea ce mă privește, m-am supus acestora, le-am respectat întru totul și încă o fac. Dar să mi se facă o astfel de remarcă într-o sală de judecată, de către un judecător care a considerat important să compare siutația mea cu a propriului copil și să justifice prin acest mod decizia ulterioară de a mă condamna la pedeapsa maximă admisă de lege mi se pare inadmisibil și mi-a demonstrat cât de multă nedreptate există în justiția română și care e capacitatea în funcție a unor magistrați. NU contează că eu la momentul ăla comiteam din nou genul ăsta de infracțiuni fiindcă ele NU erau descoperite la acel moment și în temei legal nu existau. Singurul motiv pe care doamna judecător l-a găsit la acel moment ca să îmi aplice pedeapsa maximă a fost faptul că lipseam de la școală iar singurul mod prin care a reușit să facă din asta motivul principal în justificarea soluționării cauzei a fost să pună acest lucru într-un context subiectiv și extrem de nepotrivit într-un proces penal. Demn de menționat este și faptul că în hotărârea penală doamna judecător nu a considerat necesar să redea acest dialog, LUCRU CARE ESTE OBLIGATORIU PRIN LEGE CA ORICE DEZBATERE ȘI CONCLUZIE PUSĂ ÎN CURSUL UNUI PROCES PENAL DE ORICARE DINTRE PĂRȚI, CHIAR ȘI DE CĂTRE PREȘEDINTELE COMPLETULUI DE JUDECATĂ, SĂ FIE REDATĂ ÎN SCRIS ÎN HOTĂRÂREA PENALĂ. În schimb, a concluzionat sec, ca și motiv principal al aplicării pedepsei maxime prevăzute de lege: „pentru a avea timp să își termine studiile”. Închei scurt pauza prin a vă spune că în doi ani și jumătate de detenție nu am reușit să termin nici măcar o clasă în plus și asta strict din motive și decizii care nu au ținut de mine ci de sistemul penitenciar și legislația de rahat.
Revenind, după ultimul cuvânt mi s-a spus că rămân în pronunțare peste două săptămâni, ceea ce însemna că în fix două săptămâni de la acel moment avea să se desfășoare o altă ședință la tribunal, fără participarea mea ori a avocatului ci doar a judecătorului și a procurorului, în care urma să fie decisă sentința penală. La momentul ăla nu știam exact ce urmează să se întâmple, dar având asigurarea avocatului și a altor persoane în domeniu pe care le-am consultat, respectiv că „o să îți aplice o măsură neprivativă de libertate, cel mai probabil libertatea supravegheată. Nu ai ce să pățești, că aveai 14 ani când ai făcut faptele, ai recunoscut și ai colaborat, chiar nu are ce să ți se întâmple”. Bazându-mă astfel pe aceste cuvinte, nu am acordat prea multă importanță la ceea ce avea să se întâmple…
Iar ceea ce avea să se întâmple m-a lovit pe neașteptate. În ziua pronunțării, lucru de care nici nu îmi mai amintisem deoarece nu aveam nici un motiv să mă îngrijorez, aveam să aflu într-un mod extrem de neplăcut care a fost soluția dată de judecătoare.
Ora 15:00. Stau la calculator. Vine maică-mea să mă întrebe:
– „Ia vezi, nu a apărut pe net pronunțarea?
– Nu a apărut, nu cred că apare azi că nu le bagă ăștia pe Internet în aceeași zi. Ne uităm mâine”, am spus eu, cu total dezinteres față de ceea ce putea să se întâmple și evitând astfel să îmi întrerup activitatea extrem de interesantă pe care o desfășuram în momentul ăla de a naviga pe reddit.
Ora 19:00. Tot la calculator, plictisit, îmi trece prin minte ce m-a întrebat maică-mea. „Ia să văd eu mă, nu a apărut totuși aia?”. Tribunalul Bacău. Dosare. Număr 3952/110/2014. ”[…] aplică inculpatului minor BLA BLA BLA măsura educativă privativă de libertate a internării într-un centru de detenție pe o perioadă de cinci ani”. Fuck. FUCK. FUCK FUCK FUCK FUCK. O, Doamne. O, nu. Doamne, ce mă fac?! Ce dracu` se întâmplă, nu se poate! Apucă ghiozdanul. Bagă laptopul în el. Uită-te în portofel. 100 lei. Băga-mi-aș pula, ce să fac cu 100 de lei? Uită-te repede pe stradă să nu vină poliția. Ok, nu vine încă. Scrie bilet de adio părinților în care le spui că nu poți să mergi la pușcărie și că o să îi cauți tu. Scrie că îți pare rău. Fugi mâncând pământul că poate să vină garda în orice moment și să te ia. Mergi în stația de microbuz. Ia primul microbuz până în Bacău (la momentul acțiunii eram la casa alor mei de la țară). Ajungi în oraș, mai ai 80 de lei. Îți iei ceva de mâncare și un suc, te duci în parc pe o bancă și te așezi. Încerci să îți aduni gândurile, să pui totul cap la cap, să găsești o soluție ca să ieși din situația asta nasoală, dar oricât de mult încerci nu funcționează. Nimic nu mai funcționează, creierul tău nu poate să proceseze informația în mod coerent și mintea ți s-a dat peste cap, în același timp ai un milion de gânduri și de idei dar parcă capul îți e gol fiindcă chestiile doar îți zboară prin cap aleatoriu dar nu se opresc. Ore întregi petrecute pe banca aia nenorocită, într-o seară cu puțin peste zero grade și îmbrăcat doar cu un tricou și o jachetă subțire. Te culci acolo până a doua zi dimineață sperând că mâine o să găsești o soluție sau că mâine poate nu o să te mai trezești și astfel nu o să mai fie nevoie să găsești soluția.
Referință aici la piticigratis.com. Radu, cel care are site-ul, la momentul ăla avea o rubrică numită „sfaturi gratis”, adică întrebai orice și ți se răspunea. I-am trimis mail în ziua aia și i-am spus în ce situație sunt. Omul mi-a răspuns că fără bani chiar nu am ce să fac, și în orice caz până la urmă tot mă găsesc ăștia. Mi-a spus că da, e nasol la pușcărie, dar nu ai ce să faci, cel mai bine e să îți asumi și să mergi să îți execuți pedeapsa. Până la urmă trece. Mersi, Radu, că la momentul ăla sfatul ăsta mi-a prins extrem de bine și cine știe ce alt căcat aș mai fi făcut dacă nu erai tu cu mailul salvator la momentul potrivit.
Continuând povestea, am mers în piață, am mers la un țigan și am luat un telefon cu 20 de lei. Am sunat-o pe maică-mea, i-am explicat extrem de grăbit ce s-a întâmplat, cât de coerent am putut pentru că încă nu mă obișnuisem cu ideea, iar ea printre plânsetele pe care le avea din cauza faptului că nu știa unde sunt și ce am făcut, a reușit să mă calmeze spunându-mi că nu mă închide nimeni, că decizia nu e definitivă și că poate fi atacată prin apel, lucru pe care deja l-a făcut avocatul. Și pentru a doua oară am simțit că ăla a fost cel mai bun lucru care mi s-a întâmplat vreodată.
Ca să mai scurtez din articol că scriu de vreo trei ore și nu pot să iau fiecare lucru în parte într-un singur articol ca să-l detaliez și o singură zi nu îmi ajunge pentru treaba asta, dar e posibil ca pe viitor să revin și cu partea a doua dacă o să consider necesar – între timp dosarul a intrat în apel, iar în iulie 2017 am fost la ședința de judecată unde mi s-a acordat un nou și ultim termen pentru a îmi pregăti apărarea, cu mențiunea explicită făcută de judecător că „ăsta chiar e ultimul termen. La următorul luăm soluția definitivă”. Lucru care m-a făcut chiar în acel moment să iau propria mea decizie definitivă că nu o să las lucrurile în voia sorții și că o să decid singur și prin propriile mijloace dacă merg sau nu la pușcărie, că nu o să aștept din nou decizia unui alt om în privința libertății și vieții mele.
Astfel că am deliberat. O să fac bani și o să fug. Plec din țară. Îmi schimb înfățișarea, îmi fac acte, fac rost de bani iar după pa și pusi. Mă duce capul cât să mă descurc să fac și bani și să nu fiu nici prins. Gaborii sunt idioți și nu or să poată face nimic.
Deci, am început cu primul pas, să fac bani. Aici trebuie să spun că și până în momentul ăla, cum am menționat și anterior, făceam încă infracțiuni prin internet și făceam și bani. Dar nu îndeajuns pentru treaba asta. Pentru treaba asta îmi trebuiau bani serioși și aveam de gând să îi fac cât mai repede cu putință. Iar faptul că trebuia să fac mulți și repede m-a silit să renunț la unele măsuri de precauție pe care le-aș fi luat în mod normal ca să mă asigur că nu poate să mă depisteze nimeni în legătură cu operațiunile pe care le făceam. Iar lucrul ăsta a fost și cel din urmă care m-a făcut să îmi pierd libertatea.
Menționez că eram și depedent de pariuri sportive la momentul ăla, ca să se înțeleagă.
Apucă-te și fă bani. Propune-ți ca în două săptămâni să faci 10.000 euro. Faci mai mult de 10.000 euro după două săptămâni. „Hai să-i înmulțesc, să fac mai mulți că am nevoie.” Îi joci la pariuri, pierzi. Repetă cu 20.000. Același rezultat. Repetă cu și mai mulți dar fă aceeași greșeală din nou și din nou și din nou. Între timp se instalează paranoia, știi că greșești și știi că asta implică riscuri, că ai putea fi prins. Legea spune că nu au voie să intre peste tine înainte de șase dimineața. Pui alarma la cinci și ai bagajul pregătit în fiecare dimineață, în caz că vine garda ți-ai luat geanta și ai fugit (la momentul ăla locuiam tot la casa de la țară la ai mei – ideea era că eu îi pot vedea venind pe șosea înainte să ajungă la mine și pot fugi prin spatele casei într-un timp de reacție decent, cu un avantaj de cel puțin două minute și jumătate cât le ia să spargă o poartă din fier masiv). Ți-e frică totuși, în interiorul tău ai sentimentul că ceva s-ar putea să nu meargă bine, că ȘTII că ceva nu o să meargă bine. Totuși, stick with the plan. Reușești și pui ceva bani deoparte, pe ăștia i-ai fentat cumva de la a deveni parte din profitul caselor de pariuri. Ia-ți chirie în Berlin. Ia-ți acte false. Ia-ți mașină să te scoată din țară. Toate astea costă și nu ai destul cât să îți ajungă pentru toate întrucât să ai totul pus la punct perfect. Zici că pleci peste două zile, amâni. Vine ziua, amâni iar. „Până la urmă lasă, fac cât pot și cu o zi înainte de proces plec. În ziua când vine condamnarea eu o sa fiu deja ieșit din țară, o să fiu chiar în spațiul Schengen și de acolo mă mișc mult mai ușor. E ok. O să meargă”. Ziua procesului era pe 22 septembrie 2015.
14 septembrie 2015. Noaptea trecută de abea ai dormit, de fapt așa e în fiecare noapte că de mult nu ai mai dormit cum trebuie. Nu mai poți să dormi, cum dracului să mai dormi când știi în ce situație de căcat ești. Faci exact ceea ce ai făcut în fiecare zi până atunci, bani. Dar de ceva timp nici pe ăștia nu mai poți să îi faci cum trebuie. Ai început să îți asumi riscuri mai mari dar banii sunt tot mai puțini. Pur și simplu nu mai merge. Nu mai merge și gata. Nu ai noroc în viață. Stres maxim, nu știi ce să faci. Vine noaptea și te gândești că lasă, mâine o să iasă mai bine. Vrei să te culci. Ca de obicei, intră rutina paranoică în funcțiune. Bagaj – verificat. Bani – verificat. Acte – verificat. Alarmă la telefon – verificat (eu nu mă trezesc fără alarmă. Nici atunci și nici acum). Pui telefonul sub pernă ca să fii sigur că îl auzi. Pui capul pe pernă și încerci să adormi. Mai trec câteva minute – beep beep beep – your iPhone battery is under 10%. „Futu-ți morții mă-tii”. Vrei să îl pui la încărcat, dar ești deja super obosit și parcă îți pică ochii în cap. Nu știi ce să faci. „Lasă, îmi bag pula, nu au venit până acum nu or să vină nici mâine. NU SE POATE SĂ VINĂ CHIAR MÂINE. NU AR FI CORECT”. Pui capul pe pernă și adormi.
15 septembrie 2015. Ora 06:00. Zgomot. Gălăgie. Nu ai timp să reacționezi pentru că primul lucru pe care îl auzi fix în momentul în care creierul tău a ieșit din starea de somn e „Poliția, deschide. Deschide bă că spargem ușa!”. Primul lucru care îl vezi sunt mascații postați în fața ușii tale. Au intrat. Mandat de percheziție și mandat de aducere.
VIAȚĂ 1 – 0 TU
Iar după aceea, am fost dus la Cluj. Reținut, arestat preventiv, condamnat, liberat condiționat în martie 2018. Mai pe scurt, trimis între tot felul de nenorociți, criminali, violatori și așa mai departe, în niște condiții mizere și mult prea josnice pentru demintatea unei ființe umane. Dar despre subiectul ăsta o să scriu alt articol, altă dată. Momentan e de ajuns.
Povestioară scurtă de final: Când au venit băieții de la Cluj cu mascații peste mine, eu am vrut să fac pe băiatul bun care colaborează că poate scap cumva ca și prima dată, adică mă duc să dau o declarație și mă întorc. Dar am dus planul într-atât de departe, încât într-o fracțiune de secundă înainte ca ei să intre peste mine deja m-am gândit la toată desfășurarea poveștii ăsteia în modul mai sus-menționat, așa că am ascuns repede portofelul cu toți banii în pernă și am tras fermoarul gândindu-mă că după ce mă întorc acasă tot o să am nevoie de ei să fug. După ce au intrat am făcut pe inocentul și le-am dat tot ce au vrut cu indicații precise – „da, mai am și un laptop ascuns acolo, mai sunt și telefoanele alea prin mașină, mai am și niște hard-diskuri aruncate pe colo, dar stați să vedeți că vă dau și parolele de la toate conturile mele, uitați, haideți să deschidem PC-ul să vedeți că nu vă mint. Vă dau tot. Da` stați să vedeți că vă dau chiar și date despre ăla despre care știu eu că mai face că i-am luat toate informațiile, e un hacker d`ăsta de prin București” – „Auzi, băiatu`*, da` banii, banii unde sunt? Că știm că ai și de ăia. Dă și banii dacă tot ești tu așa de colaborativ”*. – Stai dom`le așa că banii nu îi am în cash că i-am transformat pe toți în Bitcoin că știam că veniți. Da` nu îi mai vreau, vă dau tot. Vrei să îți dau adresa de la portofelul Bitcoin? Hai că ți-o dau. Uite acuma îți dau datele. Vrei să le și verificăm? Acuma` le verificăm, nu e nicio problemă. Eu sunt băiat serios.
Ăia chiar au mușcat-o și m-au crezut, desigur, fără să încerce să verifice datele pe care eu le-am oferit de la un portofel de Bitcoin care nici măcar nu exista pentru că nu puteau să facă asta atunci, lucrurile astea urmau să se facă pe parcursul anchetei. Urmau să plece din camera mea să continue percheziția și în restul casei. Au ieșit civilii, ies și eu. Un mascat în fața mea și unul în spate. Dau să ies din cameră, mă trage ăla din spate – „ia stai bă așa.”. Se uită la pernă, i se pare că stătea puțin strâmb, după cum chiar el mi-a zis în mașină. Băi, puțin strâmb. Adică PUȚIN. Și stătea așa fix din cauză că portofelul era umflat cu bani. Se oprește, ia perna și o întoarce. Ditamai umflătura. Deschide fermoarul – începe să plouă cu bani. Băi, curgeau, la propriu, parcă era Dunărea când se varsă în Marea Neagră. „Ia veniți colegii înapoi că am mai găsit ceva”. La care reacția ofițerilor BCCO care desfășurau percheziția a fost „ia uite măi, unde era portofelul lui virtual. În pernă.”

submitted by AgitatedBenefit to Romania [link] [comments]

The Implications of Bitcoin (x-post from r/cryptocurrency)

This is starting to develop into a series of posts (here is the first one on both steemit and reddit), I've thrown this post on steemit, though the full text is available here. My next post is already half done and will deal with wallets, personal security, and the future therein. A table of contents is on the way that will help organize these.
I realize many here are familiar with a lot of this information, but I aim to present it in a way that's understandable to people that haven't yet spent the time to research for hours. I would appreciate any comments or criticism in order to refine the ideas. I'm not trying to shill anything in particular, though I reference bitcoin specifically for a lot of reasons I won't go into right here, most if not all of what I explain could be applied to other cryptos. I don't wish to encourage people to "invest" in this tech, I only wish that they begin to learn about it. I think this technology will change the world no matter what we do right now, I simply wish to explain in plain English how it might benefit our global society.

The Implications of Bitcoin - Deciphering the Enigma

Money is one of the oldest technologies; it's older than writing; we know this because the first writing we find is keeping track of transactions. Money has held many forms (rock, bone, metal, paper, cloth, plastic, etc.), each generation of token ideally being more portable and harder to forge. Portability, (ease of moving around the tokens) increases what you can do with it, while forgeability describes how secure it is against counterfeiters. Modern banking is essentially impossible to forge, and is vastly more portable than physical tokens because it exists solely on banking networks. For those with access to modern banks, money has never been more free to move around. Enter Bitcoin; it is no less forgeable than its predecessor,but it's portability is exponentially increased, and being decentralized it introduces a new feature, it's open to everyone.

What is Bitcoin?

At first glance bitcoin appears very similar to how we already transact in the developed world; it's "just" digital money. We have paypal, venmo, online banking, and credit cards that allow us to move our money around. However, to call bitcoin similar is making a huge mistake and vastly misunderstanding its concept, philosophy, and power. Modern banking services are exclusive to the developed world and only accessed with the permission of for-profit, private institutions, the gatekeepers of local and global money transfer. In the developing world there are billions of people without access to any bank, and many more have limited access to even basic services. Often there's little competition which stifles innovation and increases monopolistic practices. It's these citizens of our global society that stand to benefit most from this technology in an immediate sense.
Bitcoin is a decentralized, open, and immutable means of exchanging value. There are several layers to this concept alone; most significantly, that bitcoin is fundamentally different from anything we have ever contemplated. This makes it difficult to understand the implications or benefits of such a revolutionary technology. It's an epochal shift in how we can transact and store value.
This system can be accessed by everyone, anywhere, anytime. It is neutral, trans-national, and facilitates the freedom of money. Bitcoin itself requires no personal information or account creation through a business, nation, or organization. One simply generates keys and is free to transact with anyone. There isn't a central authority to dictate who can and can't use the network, no gatekeepers, no one to freeze payments or hold funds.

How is Bitcoin Secure?

I think people are well-justified to be skeptical of bitcoin's security, it's often touted as "unhackable" or "immutable". I try not to speak in absolutes; so I simply state that it's not worth trying to hack because its security lies in cryptography and game-theory.
If you guessed my private key you could spend coins associated with that address. Computers can guess many times in a a second, but even with every computer on the planet it would take much longer than the universe has existed to guess the private keys to a single bitcoin address. This is still true even with 1,000 earths worth of computing power. This is cryptographic security.
Game theory sounds daunting but it's easy to understand, it's "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." In bitcoin this manifests through "proof of work" which amounts to "miners" using computers to do lots of math problems, the results of which get embedded in the transaction record (the blockchain), and they receive rewards for their effort of mining a block. Miners are incentivized to contribute to the system.

So what if we try to cheat?

The amount of money and resources required to assemble enough computing power to even attempt to cheat the system (the "51% attack") would cost more than any benefits of doing so because the attack has no guarantee of working, and it would be obvious to anyone looking at the transaction record. In some cases the cheating transaction could be routed-around, essentially erased, negating all the work put in by the attacker who still had to pony up all the computing hardware and electricity. It's simply more profitable to take those computing resources and just mine bitcoins instead of attempting an attack. Game theory at its finest.
Many criticize the computing power and electricity "wasted" on bitcoin mining. Another perspective is that all this computational expenditure is quite intentional because it maintains the security of the system. It's analogous to mining gold; gold ore is just a pile of rocks that require significant extraction and refining to yield highly valuable and useful gold. Bitcoin's proof of work is so-called because the blockchain is evidence of massive computation, that computation equals security. The security is what makes bitcoin valuable. The proof of work is the proof that energy and computing power were expended in securing a history that can never be altered. Furthermore, renewable energy can increasingly provide electricity for miners mitigating environmental concerns. Not to mention the environmental impact of continuously replacing paper currencies in hundreds of countries, gold mining resources "wasted" on gold just to sit in vaults, or all of the concrete and steel poured into thousands of banks across the globe.

What can it do?

Right now citizens of Venezuela are losing purchasing power of their money by 25,000% per year. Their failing government continues printing more money robbing constituents of their savings. When this happened in Zimbabwe and people needed wheelbarrows full of money to buy a single loaf of bread the residents had little recourse. But some Venezuelan locals are turning to crypto-currencies to flee the currency crisis, escape the inflation, and protect their ability to acquire food and shelter. It's capital flight away from a national currency without having to even leave their neighborhood because their $20 cell phone can now act like a global bank.
Global remittances account for over 500 billion dollars a year. International money transfer services require physically being near the local office during business hours. A fair amount of coordination is required to find an institution with local access in both countries. Transfers can take days to clear, and fees vary wildly and make it difficult to transfer small amounts. Bitcoin can send a transaction at any time from your phone to anywhere on the globe in seconds with negligible fees without any intermediary. It's not hard to see why in some places this industry is being heavily disrupted.
Credit cards are a "pull" system, meaning you give out your card number and anyone can pull money from it, this model is the cause of credit and debit card fraud. If your card info is ever compromised you will need a replacement card and sometimes have to fight with institutions for weeks, months, or years to get your money back or have your credit restored. Bitcoin is a "push" system, only you can spend your money. No fees or extra charges can ever be added without you manually sending them. Automatic payments can be set up on your end, but never "their" end.
Bitcoin is programmable and flexible, allowing money to flow around the world as easily as cat videos and memes. It can mimic the way we do business currently when we desire, but, so much more is possible that will never be viable with our current systems. In fact, we haven't even figured out what yet is possible because innovation has just begun. Until now the only ones that could innovate in the financial space are those with the connections to permissioned worldwide banking network. Now, a 19 year-old has created a global computer whereby the programs can never be silenced and money itself can be programmed. Ultimately this enables anyone to write the next killer banking app without permission from anyone; it's a free market of money. And we are just getting started.
submitted by mrcoolbp to CryptoTechnology [link] [comments]

All We Know About Cryptbontix (DIG) + Other Tokens

All We Know About Cryptbontix (DIG) + Other Tokens
“If you want to go to the future, you have to go to the past. The future of money is gold.”
Arbitrade has acquired Cryptobontix, and although they both have different but complementary business models, they have formed a symbiotic relationship benefiting both parties to bring you this multidimensional asset class.
Cryptobontix is the company responsible for creating a family of tokens backed by precious metals such as Gold, Silver, Platinum and Palladium.
Currently, you will not be able to find a lot of information on their website, because:
“The website is awaiting legal approval from our council and council of our newly developed partners before we can release details of our operations and partnerships.” ~ Cryptobontix
The Cryptobontix Inc. development team has created four cryptocurrencies based on the Etherium smart contract technology (ERC20 Token), which are backed by valuable hard-backed assets. These include:
  • Dignity (DIG) – backed by ingot of gold bullion
  • Namaste (NAM) – backed by ingot of silver bullion
  • Orectic (ORE) – backed by ingot of palladium bullion
  • Honor (HNR) – backed by ingot of platinum bullion

Key Features Of The Asset-Backed Tokens:

  • Robust security & privacy protection, making it difficult for hackers, corporations and governments to unfairly seize assets.
  • Faster & cheaper transactions than traditional electronic systems.
  • Elimination of boundaries and fees associated with international transaction, some bank charges are as high as 10-15% – Baffles the mind to think what big industries and companies must spend on these fees!

How this changes the digital asset landscape and the future

To give you a better understanding of how powerful this family of tokens really is for the future economy, let’s take a closer look at another traditional store of value, money.
Money has four functions; It is a:
  • Store of value
  • Medium of exchange
  • Unit of account
  • Standard of deferred payment
One of the many problems with our traditional monetary system is the declining value of our fiat currencies, they are dropping immensely due to the impact of inflation on the economy over time.
For instance, the Great British Pound has lost 90\% of its value since 1973 and the price of a pint of milk has increased by 767\% in 40 years.
What is commendable and unique about the Cryptobontix Inc. cryptocurrency tokens is that they provide a dependable means of exchange beyond the direct control of national banks, such as the U.S. Federal Reserve, European Central Bank, Bank of Canada, Monetary Authority of Singapore, etc.
This is particularly attractive for those concerned about future long-term inflation as a result of:
  1. Loose monetary policy such as quantitative easing (often central banks’ “printing money” by purchasing government bonds).
  2. Near zero inter­bank lending rates.
  3. Banks going into liquidation such as the recent crash of Deutschebank or India’s war on cash.In 2016 Indias Finance Minister says “honest people” have no need worry. They removed the two large denominations of the rupee (500 and 1000 rupee) from use, stating it will no longer be legal tender. Citizens were given only four hours notice of this change, thus removing 86\% of cash in circulation by value. And in a country where 95\% of all transactions happen in cash and this is where more than 40\% of the population of the country has no bank account. The immediate effect was expected to be a loss of 2-4\% of the GDP of the country, and the ripple effect has been devastating.
By combining bullion, the oldest store of value, with the newest, cryptocurrencies, we believe Arbitrade & Cryptobontix have created both a new hybrid asset class and investment vehicle that has the potential to become a global leader in this sector.
We are witnessing the start of a new era in bullion backed digital assets. Trust-less is the key & decentralisation is the strength
“Arbitrade is acquiring $8.7 Billion worth of the four bullions (gold, silver, platinum, and palladium) that will back the company’s four major tokens.” - Arbitrade Management 25/05/18

History: UNY To DIG Swap

The history of events leading up to the rebranding of T.J.L. Holdings to Cryptobontix Inc. has been outlined below:
  • T.J.L. Holdings launched unity Ingot (UNY) on May 8th 2017. Tokens value proceeded on a gradual decline.
  • T.J.L Holdings, then rebranded to Cryptobontix Inc.
  • A 1:1 token swap from Unity Ingot (UNY) into Dignity (DIG) was initiated by Cryptobontix Inc. and took place from the 8th February through to 20th February 2018 on the Livecoin exchange.
  • During the take-over, a small number of members from T.J.L Holdings remained with the development team in the capacity of consultants until the transfer was completed and the company is successfully operating as Cryptobontix Inc.
  • Cryptobontix Inc. has a renewed vision of the original idea behind the Unity Ingot project and is now leading a family of tokens into its next stages of expansion.

Dignity (DIG)

Backing the Dignity token to Gold will give the token a floor value that matches the true value of the gold. It should be noted that assets usually trade at multiples of their intrinsic value.
Key facts about the Dignity (DIG) token:
  • The first token of it’s kind to be backed by both:
  1. Mining hardware – 10,000+ high performace mining rigs
  2. Gold bullion -$3 Billion in Gold Bullion ($1 worth of Gold Bullion for every token issued.)
  • Tender: GOLD
  • Quantity: 0.02445 grams per token
  • ‘Floor’ Value: $1.00 USD (awaiting audit confirmation)
  • Original UNY supply: 10,000,000,000
  • UNY Burned: 7,000,000,000
  • Token swap UNY > DIG
  • DIG Total Supply: 3,000,000,000
  • Currently listed on Coinmarketcap, ticker DIG and currently on the Livecoin exchange, with further popular exchanges listing the token throughout the summer of 2018.
https://preview.redd.it/qf7ztyr764911.png?width=207&format=png&auto=webp&s=2729bbc87357b9b4079ffa8e59c75dc0a5f76683
https://preview.redd.it/etewsb7664911.png?width=491&format=png&auto=webp&s=054d1f9bee31c029dfabd5d02fffcc1a9148ee76
What makes DIG so unique in the crypto-space, is that once it is developed, its continued growth is tied to both the value of gold and the performance of cryptocurrency (mining & buyback), which means the only way it could completely fail is if the entire cryptocurrency market fails.
Global trends and adoption rates indicate this is a highly unlikely event when one considers the value, energy and passion that has transpired and got us to this point.

Namaste (NAM)

This token represents the very first truly silver backed cryptocurrency and sets another industry standard for the new era of hard backed tokens.
Key facts about the Namaste (NAM) token:
  • Backed by $2 Billion in Gold Bullion to be traded for Silver Bullion upon each payment. ($2 worth of Silver Bullion for every token issued.)
  • Tender: SILVER
  • Quantity: 3.6559 grams per token
  • Value: $2.00 USD (on release)
  • NAM Supply: 1,000,000,000
  • Planned Release: To Be Confirmed, Testing underway
  • Number of mining rigs dedicated to this token: 10,000
https://preview.redd.it/2d3beqma64911.png?width=230&format=png&auto=webp&s=fe9ae7e27fe582c9dbe1c7a1f4f30785890881fd

Orectic (ORE)

This token represents the very first, truly palladium backed cryptocurrency and sets yet another industry standard.
Key facts about the Orectic (ORE) token:
  • Backed by $1 Billion in Gold Bullion to be traded for Platinum Bullion upon each payment. ($3 worth of Platinum Bullion for every token issued.)
  • Tender: PALLADIUM
  • Quantity: 0.101 grams per token
  • Value: $3 USD (on release)
  • ORE Supply: 500,000,000
  • Planned Release: To Be Confirmed, Testing underway
  • Number of mining rigs dedicated to this token: 10,000
https://preview.redd.it/tz6407hc64911.png?width=207&format=png&auto=webp&s=a0389248a042de61c9c7a6ebc064f775df1fa28c

Honor (HNR)

This token represents the very first truly platinum backed cryptocurrency and sets yet another industry standard.
Key facts about the Honor (HNR) token:
  • Backed by $500 million in Gold Bullion to be traded for Palladium Bullion upon each payment. ($4 worth of Palladium Bullion for every token issued.)Tender: PLATINUM
  • Quantity: 0.125 grams per token
  • Value: $4 USD (on release)
  • HNR Supply: 500,000,000
  • Planned Release: To Be Confirmed, Testing underway
  • Number of mining rigs dedicated to this token: 10,000
https://preview.redd.it/pgg4n0yd64911.png?width=206&format=png&auto=webp&s=f0e64dbd25e05d24918fd6c60a95630711b03ff7

Gold Bullion

Arbitrade Ltd. has made a definitive deal with Sion Trading FZE Dubai to acquire $10,000,000,000 in gold bullion. The bullion will be held at Brinks’ vault at the Dubai Gold Exchange. The company will have the bullion audited by a major accounting firm that operates in both Bermuda, Dubai and the United States before the end of September 2018 or as the accounting firm’s schedule permits. The audit is not an important factor and is only being done to satisfy U.S. Regulators.
Source: Arbitrade news update

How To Get Hold Of Your Physical Assets

According to the existing white paper:
  • After two years, you will be able to swap your token 1 to 1 for a special utility coupon that grants you your amount of bullion.
  • These will be redeemable during specific periods each year.
  • In November of every year, 1/15th of the token float will become available for you to trade your tokens with, until the expiration date of the coupons.
  • You will then be able to redeem the physical bullion held against the token by using the coupon.
  • At any point throughout the year, you can place a bullion order at the Cryptobontix website and fill out and send an order form to the prescribed address.
  • The shipping department will then process the transaction when the November redemption window opens and will ship the physical bullion to the token holders.

Mining Facility

Cryptobontix Inc. and Arbitrade have partnered with:
  1. Coin Miner LLC – to provide mining hardware
  2. Cryptotopic Inc. – to build and operate the mining facilities
View video footage of one of the facilities.

Coin Miner LLC

  • Arbitrade Ltd. and Cryptotopic Industries have been working with Coin Miner LLC and the build team to create a 100,000 square foot industrial mining facility in Ontario, Canada. A facility that was previously used for metal manufacturing.
  • Has over five years experience in industrial sized mining infrastructure & development
  • Over the next 12 months, they aim to provide the facilitities with 65,000 mining units, ranging from high-performance ASIC and GPU mining units such as proprietary G Series mining units with Nvidia & AMD chips achieving 275MH at 1,200 watts each.
Hayden Gill, Arbitrade’s leading advisor & mining consultant, says:
“The D9 miners alone will be generating a minimum of 305 Decred (DCR) per day which is currently trading at $99.90 on CoinMarketCap.com ***(June 2018)***
Arbitrade and Cryptobontix have also reported purchasing additional units from Bitmain, Canada Computers & Halong.
The mining units will commence operations for:
  1. Arbitrade’s decentralized exchange (DEX)
  2. Cryptobontix’s bullion and cryptocurrency mining backed tokens
Once installed and operational, the facility will mine the most profitable cryptocurrencies such as Bitcoin, Etherium, Dash & Monero.
The daily cryptocurrency mining profits are to be used to:
  • 50\% – purchase physical bullion
  • 20\% – buy additional high standard mining rigs
  • 15\% – support buy back tokens and trade exchange marketplaces
  • 15\% – operational cost and upkeep of mining facility
https://preview.redd.it/f6oadqzf64911.png?width=600&format=png&auto=webp&s=683ac55d711e736a959dd03df896ef2b6365a828

Cryptotopic Inc.

Arbitrade reported it has commenced a 15-year lease agreement with Cryptotopic Inc., an Ontario company that will work with Coin Miner LLC, on behalf of Arbitrade, to build Canada’s largest mining facility in a 100,000 square foot industrial warehouselocated in Watford, Ontario, Canada, which will house the 65,000 mining units.
This lease agreement marks the first of four facilities Arbitrade plans to open over the next 36 months with Cryptotopic Inc. and Coin Miner LLC.

Coin Miner LLC

Hayden owns Coin Miner LLC and has been overseeing the mining developments in Watford and Atlanta. Watford has 5MW of current power that can facilitate 4,000 mining rigs to start. Arbitrade, along with Coin Miner LLC, has been successfully negotiating with Hydro One and its partners to bring in up to an additional 150MW of power so that the Watford facility will be among the largest cryptocurrency mining facilities in the world.
Currently, the property boasts a massive size of 100,000 square feet, but there are an additional 16 acres available that can accommodate an enormous expansion up to 1,000,000 square feet of mining space. The company, on behalf of Hayden, has been in negotiations to develop the company’s own ASIC mining rigs and GPU miners.
The Atlanta facility has already been toured by top stock and crypto analyst Ronnie Moas. Photographs and videos are available on his Instagram account. You can also check the Timeline.
If Arbitrade execute properly, this will make them one of the largest cryptocurrency mining operations globally.
submitted by BlockchainBullion to DignityCoin [link] [comments]

The Implications of Bitcoin

This is starting to develop into a series of posts (here is the first one on both steemit and reddit), I've thrown this post on steemit, though the full text is available here. My next post is already half done and will deal with wallets, personal security, and the future therein. A table of contents is on the way that will help organize these.
I realize many here are familiar with a lot of this information, but I aim to present it in a way that's understandable to people that haven't yet spent the time to research for hours. I would appreciate any comments or criticism in order to refine the ideas. I'm not trying to shill anything in particular, though I reference bitcoin specifically for a lot of reasons I won't go into right here, most if not all of what I explain could be applied to other cryptos. I don't wish to encourage people to "invest" in this tech, I only wish that they begin to learn about it. I think this technology will change the world no matter what we do right now, I simply wish to explain in plain English how it might benefit our global society.

The Implications of Bitcoin - Deciphering the Enigma

Money is one of the oldest technologies; it's older than writing; we know this because the first writing we find is keeping track of transactions. Money has held many forms (rock, bone, metal, paper, cloth, plastic, etc.), each generation of token ideally being more portable and harder to forge. Portability, (ease of moving around the tokens) increases what you can do with it, while forgeability describes how secure it is against counterfeiters. Modern banking is essentially impossible to forge, and is vastly more portable than physical tokens because it exists solely on banking networks. For those with access to modern banks, money has never been more free to move around. Enter Bitcoin; it is no less forgeable than its predecessor,but it's portability is exponentially increased, and being decentralized it introduces a new feature, it's open to everyone.

What is Bitcoin?

At first glance bitcoin appears very similar to how we already transact in the developed world; it's "just" digital money. We have paypal, venmo, online banking, and credit cards that allow us to move our money around. However, to call bitcoin similar is making a huge mistake and vastly misunderstanding its concept, philosophy, and power. Modern banking services are exclusive to the developed world and only accessed with the permission of for-profit, private institutions, the gatekeepers of local and global money transfer. In the developing world there are billions of people without access to any bank, and many more have limited access to even basic services. Often there's little competition which stifles innovation and increases monopolistic practices. It's these citizens of our global society that stand to benefit most from this technology in an immediate sense.
Bitcoin is a decentralized, open, and immutable means of exchanging value. There are several layers to this concept alone; most significantly, that bitcoin is fundamentally different from anything we have ever contemplated. This makes it difficult to understand the implications or benefits of such a revolutionary technology. It's an epochal shift in how we can transact and store value.
This system can be accessed by everyone, anywhere, anytime. It is neutral, trans-national, and facilitates the freedom of money. Bitcoin itself requires no personal information or account creation through a business, nation, or organization. One simply generates keys and is free to transact with anyone. There isn't a central authority to dictate who can and can't use the network, no gatekeepers, no one to freeze payments or hold funds.

How is Bitcoin Secure?

I think people are well-justified to be skeptical of bitcoin's security, it's often touted as "unhackable" or "immutable". I try not to speak in absolutes; so I simply state that it's not worth trying to hack because its security lies in cryptography and game-theory.
If you guessed my private key you could spend coins associated with that address. Computers can guess many times in a a second, but even with every computer on the planet it would take much longer than the universe has existed to guess the private keys to a single bitcoin address. This is still true even with 1,000 earths worth of computing power. This is cryptographic security.
Game theory sounds daunting but it's easy to understand, it's "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." In bitcoin this manifests through "proof of work" which amounts to "miners" using computers to do lots of math problems, the results of which get embedded in the transaction record (the blockchain), and they receive rewards for their effort of mining a block. Miners are incentivized to contribute to the system.

So what if we try to cheat?

The amount of money and resources required to assemble enough computing power to even attempt to cheat the system (the "51% attack") would cost more than any benefits of doing so because the attack has no guarantee of working, and it would be obvious to anyone looking at the transaction record. In some cases the cheating transaction could be routed-around, essentially erased, negating all the work put in by the attacker who still had to pony up all the computing hardware and electricity. It's simply more profitable to take those computing resources and just mine bitcoins instead of attempting an attack. Game theory at its finest.
Many criticize the computing power and electricity "wasted" on bitcoin mining. Another perspective is that all this computational expenditure is quite intentional because it maintains the security of the system. It's analogous to mining gold; gold ore is just a pile of rocks that require significant extraction and refining to yield highly valuable and useful gold. Bitcoin's proof of work is so-called because the blockchain is evidence of massive computation, that computation equals security. The security is what makes bitcoin valuable. The proof of work is the proof that energy and computing power were expended in securing a history that can never be altered. Furthermore, renewable energy can increasingly provide electricity for miners mitigating environmental concerns. Not to mention the environmental impact of continuously replacing paper currencies in hundreds of countries, gold mining resources "wasted" on gold just to sit in vaults, or all of the concrete and steel poured into thousands of banks across the globe.

What can it do?

Right now citizens of Venezuela are losing purchasing power of their money by 25,000% per year. Their failing government continues printing more money robbing constituents of their savings. When this happened in Zimbabwe and people needed wheelbarrows full of money to buy a single loaf of bread the residents had little recourse. But some Venezuelan locals are turning to crypto-currencies to flee the currency crisis, escape the inflation, and protect their ability to acquire food and shelter. It's capital flight away from a national currency without having to even leave their neighborhood because their $20 cell phone can now act like a global bank.
Global remittances account for over 500 billion dollars a year. International money transfer services require physically being near the local office during business hours. A fair amount of coordination is required to find an institution with local access in both countries. Transfers can take days to clear, and fees vary wildly and make it difficult to transfer small amounts. Bitcoin can send a transaction at any time from your phone to anywhere on the globe in seconds with negligible fees without any intermediary. It's not hard to see why in some places this industry is being heavily disrupted.
Credit cards are a "pull" system, meaning you give out your card number and anyone can pull money from it, this model is the cause of credit and debit card fraud. If your card info is ever compromised you will need a replacement card and sometimes have to fight with institutions for weeks, months, or years to get your money back or have your credit restored. Bitcoin is a "push" system, only you can spend your money. No fees or extra charges can ever be added without you manually sending them. Automatic payments can be set up on your end, but never "their" end.
Bitcoin is programmable and flexible, allowing money to flow around the world as easily as cat videos and memes. It can mimic the way we do business currently when we desire, but, so much more is possible that will never be viable with our current systems. In fact, we haven't even figured out what yet is possible because innovation has just begun. Until now the only ones that could innovate in the financial space are those with the connections to permissioned worldwide banking network. Now, a 19 year-old has created a global computer whereby the programs can never be silenced and money itself can be programmed. Ultimately this enables anyone to write the next killer banking app without permission from anyone; it's a free market of money. And we are just getting started.
submitted by mrcoolbp to CryptoCurrency [link] [comments]

The Implications of Bitcoin (x-post)

This is starting to develop into a series of posts (here is the first one on both steemit and reddit), I've thrown this post on steemit, though the full text is available here. My next post is already half done and will deal with wallets, personal security, and the future therein. A table of contents is on the way that will help organize these.
I realize many here are familiar with a lot of this information, but I aim to present it in a way that's understandable to people that haven't yet spent the time to research for hours. I would appreciate any comments or criticism in order to refine the ideas. I'm not trying to shill anything in particular, though I reference bitcoin specifically for a lot of reasons I won't go into right here, most if not all of what I explain could be applied to other cryptos. I don't wish to encourage people to "invest" in this tech, I only wish that they begin to learn about it. I think this technology will change the world no matter what we do right now, I simply wish to explain in plain English how it might benefit our global society.

The Implications of Bitcoin - Deciphering the Enigma

Money is one of the oldest technologies; it's older than writing; we know this because the first writing we find is keeping track of transactions. Money has held many forms (rock, bone, metal, paper, cloth, plastic, etc.), each generation of token ideally being more portable and harder to forge. Portability, (ease of moving around the tokens) increases what you can do with it, while forgeability describes how secure it is against counterfeiters. Modern banking is essentially impossible to forge, and is vastly more portable than physical tokens because it exists solely on banking networks. For those with access to modern banks, money has never been more free to move around. Enter Bitcoin; it is no less forgeable than its predecessor,but it's portability is exponentially increased, and being decentralized it introduces a new feature, it's open to everyone.

What is Bitcoin?

At first glance bitcoin appears very similar to how we already transact in the developed world; it's "just" digital money. We have paypal, venmo, online banking, and credit cards that allow us to move our money around. However, to call bitcoin similar is making a huge mistake and vastly misunderstanding its concept, philosophy, and power. Modern banking services are exclusive to the developed world and only accessed with the permission of for-profit, private institutions, the gatekeepers of local and global money transfer. In the developing world there are billions of people without access to any bank, and many more have limited access to even basic services. Often there's little competition which stifles innovation and increases monopolistic practices. It's these citizens of our global society that stand to benefit most from this technology in an immediate sense.
Bitcoin is a decentralized, open, and immutable means of exchanging value. There are several layers to this concept alone; most significantly, that bitcoin is fundamentally different from anything we have ever contemplated. This makes it difficult to understand the implications or benefits of such a revolutionary technology. It's an epochal shift in how we can transact and store value.
This system can be accessed by everyone, anywhere, anytime. It is neutral, trans-national, and facilitates the freedom of money. Bitcoin itself requires no personal information or account creation through a business, nation, or organization. One simply generates keys and is free to transact with anyone. There isn't a central authority to dictate who can and can't use the network, no gatekeepers, no one to freeze payments or hold funds.

How is Bitcoin Secure?

I think people are well-justified to be skeptical of bitcoin's security, it's often touted as "unhackable" or "immutable". I try not to speak in absolutes; so I simply state that it's not worth trying to hack because its security lies in cryptography and game-theory.
If you guessed my private key you could spend coins associated with that address. Computers can guess many times in a a second, but even with every computer on the planet it would take much longer than the universe has existed to guess the private keys to a single bitcoin address. This is still true even with 1,000 earths worth of computing power. This is cryptographic security.
Game theory sounds daunting but it's easy to understand, it's "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." In bitcoin this manifests through "proof of work" which amounts to "miners" using computers to do lots of math problems, the results of which get embedded in the transaction record (the blockchain), and they receive rewards for their effort of mining a block. Miners are incentivized to contribute to the system.

So what if we try to cheat?

The amount of money and resources required to assemble enough computing power to even attempt to cheat the system (the "51% attack") would cost more than any benefits of doing so because the attack has no guarantee of working, and it would be obvious to anyone looking at the transaction record. In some cases the cheating transaction could be routed-around, essentially erased, negating all the work put in by the attacker who still had to pony up all the computing hardware and electricity. It's simply more profitable to take those computing resources and just mine bitcoins instead of attempting an attack. Game theory at its finest.
Many criticize the computing power and electricity "wasted" on bitcoin mining. Another perspective is that all this computational expenditure is quite intentional because it maintains the security of the system. It's analogous to mining gold; gold ore is just a pile of rocks that require significant extraction and refining to yield highly valuable and useful gold. Bitcoin's proof of work is so-called because the blockchain is evidence of massive computation, that computation equals security. The security is what makes bitcoin valuable. The proof of work is the proof that energy and computing power were expended in securing a history that can never be altered. Furthermore, renewable energy can increasingly provide electricity for miners mitigating environmental concerns. Not to mention the environmental impact of continuously replacing paper currencies in hundreds of countries, gold mining resources "wasted" on gold just to sit in vaults, or all of the concrete and steel poured into thousands of banks across the globe.

What can it do?

Right now citizens of Venezuela are losing purchasing power of their money by 25,000% per year. Their failing government continues printing more money robbing constituents of their savings. When this happened in Zimbabwe and people needed wheelbarrows full of money to buy a single loaf of bread the residents had little recourse. But some Venezuelan locals are turning to crypto-currencies to flee the currency crisis, escape the inflation, and protect their ability to acquire food and shelter. It's capital flight away from a national currency without having to even leave their neighborhood because their $20 cell phone can now act like a global bank.
Global remittances account for over 500 billion dollars a year. International money transfer services require physically being near the local office during business hours. A fair amount of coordination is required to find an institution with local access in both countries. Transfers can take days to clear, and fees vary wildly and make it difficult to transfer small amounts. Bitcoin can send a transaction at any time from your phone to anywhere on the globe in seconds with negligible fees without any intermediary. It's not hard to see why in some places this industry is being heavily disrupted.
Credit cards are a "pull" system, meaning you give out your card number and anyone can pull money from it, this model is the cause of credit and debit card fraud. If your card info is ever compromised you will need a replacement card and sometimes have to fight with institutions for weeks, months, or years to get your money back or have your credit restored. Bitcoin is a "push" system, only you can spend your money. No fees or extra charges can ever be added without you manually sending them. Automatic payments can be set up on your end, but never "their" end.
Bitcoin is programmable and flexible, allowing money to flow around the world as easily as cat videos and memes. It can mimic the way we do business currently when we desire, but, so much more is possible that will never be viable with our current systems. In fact, we haven't even figured out what yet is possible because innovation has just begun. Until now the only ones that could innovate in the financial space are those with the connections to permissioned worldwide banking network. Now, a 19 year-old has created a global computer whereby the programs can never be silenced and money itself can be programmed. Ultimately this enables anyone to write the next killer banking app without permission from anyone; it's a free market of money. And we are just getting started.
submitted by mrcoolbp to btc [link] [comments]

ICO review - #Swiss Alps

💥Good day my friends, I greet everyone on my blog! Today I will tell you about a very interesting ICO project. We will discuss how Swiss Alps implementing blockchain technologies in a decentralized industry, and we will also talk in detail about the details of the ICO.
🚀Why is it worth supporting this project:
https://swissalpsmining.io/
submitted by daupreapnemem1986 to Crypto_ICO_Investing [link] [comments]

Mining and mining machine overview

The essence of mining is decryption, and the encrypted digital currency we all recognize is a series of passwords.
The digital currency in a pool, if we dig it out, we’ll have it. The mining machine is essentially the equivalent of a hacker system capable of cracking the code in a short time and then taking it out.
How to dig the ore — pit and the types of mining machines
How to dig? Mining can be done by buying a miner. The essential principle of mining is to operate the mining program on the mine, and calculate the algorithm to get the reward.
Mine pool: the output of individual miners is not stable.In order to obtain stable mining profits, there is a mine pool. The pool is a collection of miners’ machines.
The more the ore, the stronger the calculation. In the total strength of the entire network, a certain proportion of the share, so that a stable mining out. When mining a mineral, it will be distributed proportionally according to the calculating forces contributed by a single miner to the pit, which will usually charge a small fee.
Mining machine variety
At the beginning, most of the mainstream miners were mainly bitcoin mining by ASIC mining machines, supplemented by LTC. With the emergence of ETH, ZEC, SC and other digital currencies, some of them began to choose to use the graphics card mining machine to dig ETH and other currencies. Miners are chasing the biggest profits.
The mine is divided into two types: ASIC miner and video card miner.
ASIC mining machine: the ant S9 produced by bit China is now the most mainstream mining machine in the market, which is famous for its small power consumption. Other manufacturers include AvalonMiner, EBANG, etc.
Video card mining machine: at present, there is a professional video card mining machine in the market, professional mining machine manufacturers have the flag mining machine, panda mining machine and so on.
Costs, benefits and risks of mining
Mining cost is divided into three types:
Mining machine cost: the mining machine cost is a fixed one-time expense. The choice of mining machine depends on which currency to dig. From the perspective of hardware performance, a machine can work normally for at least 3–5 years. In other words, the one-time investment of the mining machine can provide a relatively fixed output for at least 3 to 5 years without the increase of calculating force. If you want to sell it in the middle, you can also find someone to sell it, but the price will depreciate.
Electricity price cost: the electricity price cost belongs to long-term fixed output, so it is very important to find a place where the electricity price is low. In the long run, it is important to choose cheap power sources in these places.
Other costs: site costs and labor costs are all other costs, including the cost of machine maintenance.
Mining benefits
The source of income from mining is divided into two parts, namely new block award and commission fee award.
Mining awards at the start of bitcoin’s life are mostly made up of new block awards, with minimal processing fees. Along with the bitcoin mining mechanism, the production is halved and the amount of transaction data is increased, and the fees will gradually increase in the income. When the bitcoin production is exhausted, it will be all composed of fees.
Mining risks fall into three categories
The soaring computational power: The soaring computational power is the biggest risk of mining investment. The increase of computational power leads to the increase of mining difficulty and the decrease of earnings. However, due to the inevitable competition in the free market, the increased risk of computational power is acceptable.
Currency price falls: when the currency price falls to a certain extent, the output income from mining is less than the electricity generated, there will be loss. But it is estimated that a 50 percent charge for electricity, with a price below 50, 000 yuan (bitcoin), is likely to lose money, and the current price is close to 100, 000 yuan (bitcoin), unless it falls below 50, 000 yuan (bitcoin) in the short term for special reasons, such as regulation.
System risk:system risks are common in bitcoin, the most common of which is bifurcation. Bifurcation will lead to a drop in the value of the currency, mining profits are sharply reduced. However, as far as the present situation is concerned, bifurcation can only bring benefits to the miners. The bifurcated competitive currency also requires the miners’ computing power to complete the process of casting and trading. In order to attract more miners, the competitive currency will offer more block rewards and fees to attract them. On the contrary, risk makes miners.
Summary: mining investment risk in addition to calculate power surge, other kinds of investment risk is also block chain have to bear the risk, systemic risk due to the workload in the currency needs of the miners, but gives the miners more profit opportunities, ensure that the mining income is relatively stable, so the investment of mining is relatively low in block chain investment risks of investment. Mining is not the early days when personal computers could be used to dig up bitcoins. A large number of professional miners and professional mines have created large-scale mines.
submitted by EAIFoundation to u/EAIFoundation [link] [comments]

OREToken - How it Works new pc free bitcoin mining at least 0.0021 per hour 0.005 ref. bonus Simple Mining System by [πBald]Peklenc Zero´s RetroMiner tutorial MINING UP - Castig zilnic de la 0.30% pana la 2.00%

The first is how much will the Bitcoin mining difficulty increase over time. The second is what will be Bitcoin’s exchange rate once my money runs out. Fortunately since I’m only comparing mining to buying and not testing for overall profitability I have no need for the second variable – meaning, I only want to see if I can get more than 25 Bitcoins through mining. I will used up $8750 ... This site will help you to compare all kind of hardware device for mining cryptocurrency like Bitcoin, Ethereum or Monero. Most profitable 10 AMD GPUS. GPU Manufacter Model Core Clock Mem Clock Operating system Driver Version Mining Software Power Consumption Currency Algorythm Speed Revenue / Day Revenue / Month Hashrate / Watt Revenue / Month (electricity deducted) Proof; AMD: SAPPHIRE: RX ... The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. The users of Bitcoin Core only accept transactions for that block chain, making it the Bitcoin block chain that everyone else wants to use. For the latest developments related to Bitcoin Core, be sure to visit the project’s official website. Decentralized. It is these users who keep Bitcoin decentralized. They individually run their own Bitcoin Core full nodes, and each of those full nodes ... Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC. To the right of the address bar, click the icon with 3 stacked horizontal lines. From the drop ...

[index] [20118] [49107] [9553] [35806] [1293] [19086] [47221] [12966] [32137] [4435]

OREToken - How it Works

LiKE SHARE subscribe for more---link-http://bit.ly/29DK9m4 The fastest and most profitable miner ever, with at LEAST 0.0021 BTC profit / hour. Mines the most... A unique opportunity to invest in a gold mining company (PARAGUAY MINERAL MINING SA.) that will distribute 45% of its gross profits among all ORET Token holders. Thanks to Blockchain technology ... 3 Process the ore and get the gold. 4 Exchange gold for real money, or hire more gnomes to bring you even more profits! Bitcoin,Litecoin,Dogecoin micro wallet & CPU mining website: Bitcoin Mining - GMOD DarkRP (How To Set Up and Start Bitcoin Mining and Building Base) ... (Mining Gold, Ton Of Gold Ingots Sell For Huge Profits) - Duration: 22:50. Elitelupus 569,447 views. 22 ... COMPLETE Shopify Tutorial For Beginners 2020 - How To Create A Profitable Shopify Store From Scratch - Duration: 2:14:53. Dan Vas Recommended for you

#