Crypto arbitrage tool - find best cryptocurrency arbitrage ...
Arbfin Bitcoin Arbitrage
12-04 15:44 - 'The Crypto Arbitrage Monitor Software allows a trader to view arbitrage situations between different crypto currencies and altcoins and different crypto exchanges: Binance, Bitfinex, Bitmex, Bittrex, Bitstamp, CryptoFacilitie...' by /u/neskoromniy removed from /r/Bitcoin within 0-9min
''' The Crypto Arbitrage Monitor Software allows a trader to view arbitrage situations between different crypto currencies and altcoins and different crypto exchanges: Binance, Bitfinex, Bitmex, Bittrex, Bitstamp, CryptoFacilities, Gdax, HitBTC, Huobi, Kraken, Poloniex, YoBit in real time mode. This software also collects information and saves it into history files. Trader has possibility to export historical arbitrage situations into csv file and analyse it in MS Excel. Software shows: buy/sell exchanges names, arbitrage situation time of appearance, arbitrage situation duration currency, potential profit. Software calculates potential profits based on available volume on the top of book and considers spread and commissions. Download link: Video: [[link]3 You can download software for free here: [[link]4 ''' Context Link Go1dfish undelete link unreddit undelete link Author: neskoromniy 1: y*ut*.b*/Km*mien0*eA 2: *3.amaz*n*ws.com/1cr*p*otr**eca*_set*p.e** 3: yo*t*.*e**mTmien0i*A]^^1 4: s*.*mazon*ws*co*/1*ryptotrade*am\_*etup*e***^^2 Unknown links are censored to prevent spreading illicit content.
Ultimate glossary of crypto currency terms, acronyms and abbreviations
In the virtual world, a bot is a program that is configured for repetitive actions. They are written to save a person from mechanical and monotonous work. The bots for trading cryptocurrency are no different from their counterparts in general: they are set to trade mechanically on the exchanges according to defined parameters. The simplest versions of bots buy cryptocurrencies when the exchange rate drops and sell when they grow. Since many people trade Bitcoin passively and therefore cannot spend much time analyzing the market, Bitcoin bots allow users to build more effective trades without having to stay in the market. Although the cryptocurrency market is much less developed than other financial markets, the digital nature of the market means that the technology didn't take long to keep up with the competition, even though it had significantly less time to integrate algorithmic trading Can I trust a trading bot? Due to the popularity and rapid growth of the crypto world, the cryptocurrency market is full of phishing bots designed to get your data to completely steal your money or personal account. The crypto exchanges are not responsible for the security of the user's money in the event of hacking your account. Also in the event that you transfer your personal funds and data to third parties. Be careful with the software you are using and pay attention to the other user's feedback. It is important to find a reputable trading bot that is free from coding errors and reduces downtime to a minimum. The security of the account for "stolen" information is on your shoulders. Main types of bots: A trading bot is software that interacts directly with exchanges (often using the API to obtain and interpret relevant information) and, depending on how market data is interpreted, places buy or sell orders on your behalf. Bots make these decisions, track market price movements and react according to the pre-defined and pre-programmed rules. Typically, a trading bot analyzes market actions such as volume, orders, price and time, although these can usually be programmed according to your taste and preferences. Trade bots Trade within a single cryptocurrency exchange, earn income by buying currencies at a low price and selling at a higher price. Arbitrage bots If they are the same trading robots, they only trade on multiple exchanges and earn income by buying currencies on the exchange where the price is lower and selling on another exchange where the price is higher. Although the spread between exchanges is now much narrower, they still appear from time to time, and trading robots can help users take full advantage of these differences. In addition, arbitrage can also be used by traders who want to include futures contracts in their trading strategies. They benefit from any differences between a futures contract and its underlying asset, taking into account futures contracts that are traded on different exchanges. Market creation - In order to implement strategies for creating markets, border orders for buying and selling must be defined in the vicinity of the existing market situation. When prices fluctuate - the trading bot automatically and continuously places limit orders to take advantage of the spread. Despite the fact that it can be beneficial in certain time periods, intense competition for this strategy can make it unprofitable, especially in conditions of low liquidity. Are trading bots useful at all? Trading bots react to the market. They collect the data needed for trading execution based on the analysis of the trading platform. However, the crypto trading platform can only tell "half the story" because many increases and decreases are based on other sources that cannot be programmed into a bot for analysis. What can I do to get the most out of the Crypto Trading Bot? The main rule: Coins in which you invest should be chosen very carefully. Tracking the latest developments in the market is also effective. You should look for a lot of clues as to whether certain trades are successful or fail. Well-made bots can be a tool that helps you stay one step ahead of the market. You can execute transactions based on the parameters of the developer or the parameters you set. Some of them even offer the opportunity to copy more established dealers and analysts - and fully assess their track record.
Cryptocurrency Terms And Definitions - Common Crypto Words To Know
The blockchain community is not left out when it comes to the use of jargon and phrases. The use of words that look strange to those who are not involved in crypto is totally inevitable. It’s definitely going to be difficult for anyone not in this space to understand words like “ERC20, ICO or gas. So in order to help such people out, we have made a list of the most common cryptocurrency terms and definitions. Please sit back and enjoy your ride. Cryptocurrency Terms And Definitions One can categorize these terms into various parts. First of all, we will deal with general cryptocurrency terms and definitions. Blockchain Blockchains are distributed ledgers which are secured by cryptography. Everyone has access to read the information on every blockchain which means they are essentially public databases but the data update can only be done by the data owners. In the case of blockchains, data doesn’t remain on a single centralized server, they are copied across hundreds of thousands of computers worldwide. Projects such as Ethereum, Vechain, EOS etc. fall under this class of technology. Mining: The means of trying to ‘solve’ the next available block. One needs huge amounts of computer processing power to carry this out effectively. There is always a reward for doing this. Mining rig: A specially designed computer that processes proof-of-work blockchains such as Ethereum. They consist of multiple high-end graphic processors (GPUs) so as to maximize their processing power. Node: This is a computer that has a copy of the blockchain and is working to keep it in a good shape. PoW: The full meaning of this is Proof-of-work. The Ethereum network currently makes use of this algorithm. PoS: Its full meaning is Proof-of-stake. It is the proposed future algorithm for Ethereum. Those that own ETH will be able to lock up all or a portion of their ether for a given amount of time in order to ‘vote’ and generate network consensus instead of mining in its current form. Stakeholders will get rewards in form of ETH by doing so. Fork: This takes places when a certain blockchain splits into two different chains. This usually happens in the crypto space when new ‘governance rules’ are infused into the blockchain’s code. Software wallet: A crypto-currency storage that exists purely on a computer as software files. You can generate these kinds of wallets for free from diverse sources. MyEtherWallet (MEW) is one of the most popular sources around. Hardware wallet: A device that one can securely keep cryptocurrency. People often say that these wallets are the most secure way to store cryptocurrency. Examples of the most common hardware wallet models around are Ledger Nano S and Trezor. Cold storage: This is a way of moving your cryptocurrency from an online wallet to an offline one, as a means of safekeeping them from hack. There are a lot of ways to carry this out. Some methods that are commonly used include: · Using a hardware wallet to store your cryptocurrency. · By printing out the QR code of a software wallet and keeping it somewhere which is safe. · You can also move the files of a software wallet onto an external storage device such as USB drive and keeping it somewhere safe. Trading Related Cryptocurrency Terms And Definitions Exchange: These are websites where people trade (buy and sell) their cryptocurrencies. Some of the popular crypto exchanges we have around include Binance, Poloniex, Bittrex etc. Market order / market buy / market sell: A sale or purchase which is made on an exchange at the current price. A market buy acquires the cheapest Bitcoin available on the order book while a market sell fills up the most high-priced buy order on the books. Limit order / limit buy / limit sell: These are orders which are placed by traders to buy or sell a cryptocurrency when the price reaches a certain amount. They are pretty much like ‘for-sale’ signs you see on goods. Sell wall / buy wall: Cryptocurrency traders are able to see the current limit buy and sell points using a depth chart. The chart’s graphical representation is very much like a wall. FIAT: Refer to a government-issued currency. An example is the US dollar. Whale: A person who owns huge amounts of cryptocurrency. Margin trading: This is an act of increasing the intensity of a trade by using your existing coins. It is very risky for an inexperienced trader to partake in this. Stay safe!! Going long: This is a margin trade that gives profit if the price goes up. Going short: It is a margin trade that gives profit if the price goes down. Bullish: Being optimistic that the price of cryptocurrency is going to increase. Bearish: This is an expectation that the price of cryptocurrency is going to decrease. ATH: This simply means All-Time-High. This is the highest point that has been reached by a particular coin or token. Take for instance, Bitcoin’s ATH is about $20,000 and this was achieved around December 2017 and January 2018. Altcoin: A word used to qualify other cryptocurrencies which is not Bitcoin. Examples of altcoins are Ripple, NEO, EOS, Vechain, Electroneum etc. Tokens: These are ‘currency’ of projects which are hosted on the ethereum network. They raise money by issuing their own tokens to the general public. Tokens have a significant use in the project's ecosystem. Examples of tokens are Enjin Coin (ENJ), Zilliqa (ZIL), OmiseGO (OMG), Augur (REP) etc. ICO: The full meaning is Initial Coin Offering. This is synonymous to an IPO in the non-crypto world. Startups give out their own token in exchange for Bitcoin or ether. Shilling / pumping: An act of advertising another cryptocurrency. It is mostly done in a way that tricks as many people as possible into believing that a coin or token will get to a higher price in the future. Market Cap: This is the total value of a cryptocurrency. To calculate this, one has to multiply the total supply of coins by the current market price. You can get a run-down of several cryptocurrency projects on Coinmarketcap. Stable coin: This is a cryptocurrency which has an extremely low volatility. You can use a stable coin to trade against the overall crypto market. Arbitrage: A situation where a trader takes advantage of a difference in the price of the same coin / token on two different exchanges. FOMO: Simply means Fear Of Missing Out. That overwhelming feeling that one needs to get on board when there is a massive rise in the price of a commodity. This is also applicable in the crypto space. FUD: Fear, Uncertainty, and Doubt. It is a baseless negativity which is spread intentionally by someone or a group of people who want the price of cryptocurrency to decrease. FUDster: A person who spreads FUD. Pump And Dump: This happens when an altcoin gets a ton of attention, leading to a massive increase in price, and likewise followed by a big price crash of that altcoin. ROI: Return on Investment. The percentage profit a trader makes on an initial investment (i.e. A 100% ROI simply indicates that a trader doubled his money). TA: Trend Analysis or Technical Analysis. A way of examining current coin charts so as to make predictions for the next market movement. Next, we will be moving on to crytocurrency terms and definitions that are ethereum related. Dapp: Decentralized Application. It is an application that uses a decentralized peer-to-peer network like Ethereum smart contract as its back-end code. Bagholder: A person who still holds on to a particular altcoin despite having a pump and dump crash. Smart contract: This is a code that is deployed onto the Ethereum blockchain, it often helps with the direct interaction of how money flows from one point to another. The Flippening: A future event showing the capacity of Ethereum’s market cap (or some other cryptocurrency) surpassing Bitcoin’s market cap, making Ethereum the most ‘valuable’ crypto-currency. Gas: It is a measurement of the amount of processing needed by the ethereum network to execute a transaction. More complex transactions like deploying a smart contract onto the network requires more gas than sending ether from one wallet to another which is obviously a simpler operation. Gas price: This is the amount of ether an initiator of a transaction is willing to spend for each gas unit on a transaction. The higher the gas price, then the faster the processing of the transaction. Wei: It is the smallest denomination of ether. Gwei: This is a denomination of ether (ETH). Gwei is the unit for measuring gas prices. 1 Ether = 1,000,000,000 Gwei (109). MEW: MyEtherWallet is a site where users can generate ethereum wallets for free. We also have a handful of cryptocurrency terms and definitions that are memes. See some of them below; Hodl: People use this word when signifying that a person is keeping his coins / tokens for a long period of time. A couple of years back, someone on a Bitcoin forum made a post with a typo HODL in place of HOLD. Ever since then, this term has become one of the most popularly used term in crypto. Mooning: In crypto, this term comes to play when the price of cryptocurrencies move up astronomically. Lambo: This is highly synonymous with crypto. You can't leave out this word when discussing about cryptocurrency terms and definitions. This is the car we’re all goona buy when crypto makes us rich. This is gentlemen: People use this phrase when pointing out positive things that are currently taking place in the cryptosphere. Now that you are conversant with some of the commonly used cryptocurrency terms and definitions, you can now go out there and showcase your new crypto vocabulary to the world.
Hello! My name is Inna Halahuz, I am a sales manager at Platinum, the largest listing service provider for the STO and ICO projects. We know all about the best and most useful STO and ICO marketing services. By the way, we developed the best blockchain platform: [Platinum.fund] (https://platinum.fund/sto/) We also created the UBAI, the unique educational project with the best and most useful online courses. We not only share our knowledge but also help the best graduates to find a job! After finishing our courses you will know all about crypto securities, ICO and STO advertizing and best blockchain platforms. What a Blockchain Wallet is? What is its purpose? Find the answer after reading this article. Public/Private Key The public key is the digital code you give to someone that wants to transfer ownership of a unit of cryptocurrency to you; and a private key is what you need to be able to unlock your own wallet to transfer a unit of a cryptocurrency to someone else. The encoding of information within a wallet is done by the private and public keys. That is the main component of the encryption that maintains the security of the wallet. Both keys function in simultaneous encryption systems called symmetric and asymmetric encryption. The former, alternatively known as private key encryption, makes use of the same key for encryption and decryption. The latter, asymmetric encryption, utilizes two keys, the public and private key, wherein a message-sender encrypts the message with the public key, and the recipient decodes it with their private key. The public key uses asymmetric algorithms that convert messages into an unreadable format. A person who possesses a public key can encrypt the message for a specific receiver. Accessing wallets Methods of wallet access vary depending on the type of wallet being used. Various types of currency wallets on an exchange will normally be accessed via the exchange’s entrance portal, normally involving a combination of a username/password and optionally, 2FA (Two factor authentication, which we explain in more detail later). Whereas hardware wallets need to be connected to an internet enabled device, and then have a pin code entered manually by the user in possession of the hardware wallet in order for access to be gained. Phone wallets are accessed through the device on which the wallet application has been downloaded. Ordinarily, a passcode and/or security pattern must be entered before entry is granted, in addition to 2FA for withdrawals. Satoshi Nakamoto built the Satoshi client which evolved into Bitcoin in 2009. This software allowed users to create wallets and send money to other addresses. However, it proved to be a nightmarish user experience, with many transactions being sent to incorrect addresses and private keys being lost. The MtGox (Magic the Gathering Online exchange, named after the original intended use of the exchange) incident, which will be covered in greater detail later, serves as a reminder of the dangers present in the cryptosphere regarding security, and the need to constantly upgrade your defenses against all potential hacks. The resulting loss of 850k BTC is a still unresolved problem, weighing heavily on the victims and the markets at large. This caused a huge push for a constantly evolving and improving focus on security. Exchanges that developed later, and are thus considered more legitimate and secure, such as Gemini and Coinbase, put a much greater emphasis on vigilance as a direct result of the MtGox hacking incident. We also saw the evolution of wallet security into the physical realm with the creation of hardware wallets, most notable among them the Ledger and Trezor wallets. Types of Wallets & Storage Methods The simplest way to sift through the dozens of cryptocurrency storage methods available today, is to divide them up into digital and non-digital, software and hardware wallets. There are also less commonly used methods of storage of private keys, like paper wallets and brain wallets. We will examine them all at least briefly, because in the course of your interaction with cryptocurrencies and Blockchain technology, it is essential to master all the different types of hardware and software wallets. Another distinction must be made between hot wallets and cold wallets. A hot wallet is one that is connected to the internet, and a cold wallet is one that is not. Fun fact: The level below cold storage, deep cold storage has just recently been implemented by the Regal RA DMCC, a subsidiary of an internationally renowned gold trading company licensed in the Middle East. After having been granted a crypto trading license, Regal RA launched their “deep cold” storage solution for traders and investors, which offers the ability to store crypto assets in vaults deep below the Almas Tower in Dubai. This storage method is so secure that at no point is the vault connected to a network or the internet; meaning the owners of the assets can be sure that the private keys are known only to the rightful owners. Lets take a quick look at specific features and functionality of varieties of crypto wallets. Software wallets: wallet applications installed on a laptop, desktop, phone or tablet. Web Wallets: A hot wallet by definition. Web Wallets are accessible through the web browser on your phone or computer. The most important feature to recognize about any kind of web wallet, is that the private keys are held and managed by a trusted third party. MyEtherWallet is the most commonly used non-exchange web wallet, but it can only be used to store Ethereum and ERC-20 tokens. Though the avenue of access to MEW is through the web, it is not strictly speaking a web wallet, though this label will suffice for the time being. The MEW site gives you the ability to create a new wallet so you can store your ETH yourself. All the data is created and stored on your CPU rather than their servers. This makes MEW a hybrid kind of web wallet and desktop wallet. Exchange Wallets: A form of Web Wallet contained within an exchange. An exchange will hold a wallet for each individual variety of cryptocurrency you hold on that exchange. Desktop Wallets: A software program downloaded onto your computer or tablet hard drive that usually holds only one kind of cryptocurrency. The Nano Wallet (Formerly Raiwallet) and Neon wallet for storage of NEO and NEP-5 tokens are notable examples of desktop wallets Phone Wallets: These are apps downloaded onto a mobile phone that function in the same manner as a desktop wallet, but actually can hold many different kinds of cryptocurrency. The Eidoo Wallet for storing Ethereum and its associated tokens and Blockchain Wallet which currently is configured to hold BTC, ETH and Bitcoin Cash, are some of the most widely used examples. Hardware wallets — LedgeTrezoAlternatives Hardware wallets are basically physical pathways and keys to the unique location of your crypto assets on the Blockchain. These are thought to be more secure than any variety of web wallet because the private key is stored within your own hard wallet, an actual physical device. This forcibly removes the risk your online wallet, or your exchange counter party, might be hacked in the same manner as MtGox. In hardware wallet transactions, the wallet’s API creates the transaction when a user requests a payment. An API is a set of functions that facilitates the creation of applications that interact and access features or data of an operating system. The hardware then signs the transaction, and produces a public key, which is given to the network. This means the signing keys never leave the hardware wallet. The user must both enter a personal identification number and physically press buttons on the hardware wallet in order to gain access to their Blockchain wallet address through this method, and do the same to initiate transfers. Paper Wallets Possibly the safest form of cryptocurrency storage in terms of avoiding hacking, Paper Wallets are an offline form of crypto storage that is free to set up, and probably the most secure way for users, from beginners to experts, to hold on to their crypto assets. To say it simply, paper wallets are an offline cold storage method of storing cryptocurrency. This includes actually printing out your public and private keys on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the security or condition of a piece of hardware, nor do you have to worry about hackers on the net, or any other piece of malware. You just need to take care of one piece of paper! Real World Historical Examples of Different Wallet Types Web Wallet: Blockchain.info Brief mechanism & Security Blockchain.info is both a cryptocurrency wallet, supporting Bitcoin, Ethereum and Bitcoin cash, and also a block explorer service. The wallet service provided by blockchain.info has both a Web Wallet, and mobile phone application wallet, both of which involve signing up with an email address, and both have downloadable private keys. Two Factor Authentication is enabled for transfers from the web and mobile wallets, as well as email confirmation (as with most withdrawals from exchanges). Phone Wallet: Eidoo The Eidoo wallet is a multi-currency mobile phone app wallet for storage of Ethereum and ERC-20 tokens. The security level is the standard phone wallet level of email registration, confirmation, password login, and 2 factor authentication used in all transfers out. You may find small volumes of different varieties of cryptocurrencies randomly turning up in your Eidoo wallet address. Certain projects have deals with individual wallets to allow for “airdrops” to take place of a particular token into the wallet, without the consent of the wallet holder. There is no need to be alarmed, and the security of the wallet is not in any way compromised by these airdrops. Neon Wallet The NEON wallet sets the standard for web wallets in terms of security and user-friendly functionality. This wallet is only designed for storing NEO, Gas, and NEP-5 tokens (Ontology, Deep Brain Chain, RPX etc.). As with all single-currency wallets, be forewarned, if you send the wrong cryptocurrency type to a wallet for which it is not designed, you will probably lose your tokens or coins. MyEtherWallet My Ether Wallet, often referred to as MEW, is the most widely used and highly regarded wallet for Ethereum and its related ERC-20 tokens. You can access your MEW account with a hardware wallet, or a different program. Or you can also get access by typing or copying in your private key. However, you should understand this method is the least safe way possible,and therefore is the most likely to result in a hack. Hardware: TrezoLedger Brief History Mechanism and Security A hardware wallet is a physical key to your on-chain wallet location, with the private keys contained within a secure sector of the device. Your private key never leaves your hardware wallet. This is one of the safest possible methods of access to your crypto assets. Many people feel like the hardware wallet strikes the right balance between security, peace of mind, and convenience. Paper Wallet Paper wallets can be generated at various websites, such as https://bitcoinpaperwallet.com/ and https://walletgenerator.net/. They enable wallet holders to store their private keys totally offline, in as secure a manner as is possible. Real World Example — Poor Practices MtGox Hack history effects and security considerations MtGox was the largest cryptocurrency exchange in the world before it was hacked in 2014. They were handling over 70% of BTC transactions before they were forced to liquidate their business. The biggest theft of cryptocurrency in history began when the private keys for the hot wallets were stolen in 2011 from a wallet.dat file, possibly by hacking, possibly by a rogue employee. Over the course of the next 3 years the hot wallets were emptied of approximately 650000 BTC. The hacker only needed wallet.dat file to access and make transfers from the hot wallet, as wallet encryption was only in operation from the time of the Bitcoin 0.4.0 release on Sept 23rd 2011. Even as the wallets were being emptied, the employees at Mt Gox were apparently oblivious to what was taking place. It seems that Mt Gox workers were interpreting these withdrawals as large transfers being made to more secure wallets. The former CEO of the exchange, Mark Karpeles, is currently on trial for embezzlement and faces up to 5 years in prison if found guilty. The Mt Gox hack precipitated the acceleration of security improvements on other exchanges, for wallets, and the architecture of bitcoin itself. As a rule of thumb, no small-to-medium scale crypto holders should use exchange wallets as a long-term storage solution. Investors and experienced traders may do this to take advantage of market fluctuations, but exchange wallets are perhaps the most prone to hacking, and storing assets on exchanges for an extended time is one of the riskiest ways to hold your assets. In a case strikingly similar to the MtGox of 2011–2014, the operators of the BitGrail exchange “discovered” that approximately 17 million XRB ($195 million worth in early 2018) were missing. The operators of the exchange were inexplicably still accepting deposits, long after they knew about the hack. Then they proceeded to block withdrawals from non-EU users. And then they even requested a hard fork of the code to restore the funds. This would have meant the entire XRB Blockchain would have had to accept all transactions from their first “invalid” transaction that were invalid, and rollback the ledger. The BitGrailexchange attempted to open operations in May 2018 but was immediately forced to close by order of the Italian courts. BitGrail did not institute mandatory KYC (Know your customer) procedures for their clients until after the theft had been reported, and allegedly months after the hack was visible. They also did not have 2 factor authentication mandatory for withdrawals. All big, and very costly mistakes. Case Study: Good Practice Binance, the Attempted Hack During the 2017 bull run, China-based exchange Binance quickly rose to the status of biggest altcoin exchange in the world, boasting daily volumes that surged to over $4 billion per day in late December. Unfortunately, this success attracted the attention of some crafty hackers. These hackers purchased domain names that were confusingly similar to “binance.com”. And then they created sufficiently convincing replica websites so they could phish traders for their login information. After obtaining this vital info, the scammers created API keys to place large buy orders for VIAcoin, an obscure, low volume digital currency. Those large buy orders spiked VIA’s price. Within minutes they traded the artificially high-priced VIA for BTC. Then they immediately made withdrawal requests from the hacked BTC wallets to wallets outside of the exchange. Almost a perfect fait accompli! But, Binance’s “automating risk management system” kicked in, as it should, and all withdrawals were temporarily suspended, resulting in a foiled hacking attempt. Software Wallets Web/Desktop/Phone/Exchange Advantages and Limitations As we said before, it is inadvisable to store crypto assets in exchange wallets, and, to a lesser extent, Web Wallets. The specific reason we say that is because you need to deliver your private keys into the hands of another party, and rely on that website or exchange to keep your private key, and thus your assets, safe. The advantages of the less-secure exchange or web wallets, are the speed at which you can transfer assets into another currency, or into another exchange for sale or for arbitrage purposes. Despite the convenience factor, all software wallets will at some point have been connected to the internet or a network. So, you can never be 100% sure that your system has not been infected with malware, or some kind of keylogging software, that will allow a third party to record your passwords or private keys. How well the type of storage method limits your contact with such hazards is a good way to rate the security of said variety of wallet. Of all the software wallets, desktop and mobile wallets are the most secure because you download and store your own private key, preferably on a different system. By taking the responsibility of private key storage you can be sure that only one person has possession of it, and that is you! Thereby greatly increasing the security of your crypto assets. By having their assets in a desktop wallet, traders can guard their private key and enjoy the associated heightened security levels, as well keep their assets just one swift transfer away from an exchange. Hardware Wallets Advantages and Limitations We briefly touched on the features and operation of the two most popular hardware wallets currently on the market, the Ledger and Trezor wallets. Now it will be helpful to take a closer look into the pros and cons of the hardware wallet storage method. With hardware wallets, the private keys are stored within a protected area of the microcontroller, and they are prevented from being exported out of the device in plain text. They are fortified with state-of-the-art cryptography that makes them immune to computer viruses and malware. And much of the time, the software is open source, which allows user validation of the entire performance of the device. The advantages of a hardware wallet over the perhaps more secure paper wallet method of crypto storage is the interactive user experience, and also the fact that the private key must at some stage be downloaded in order to use the paper wallet. The main disadvantage of a hardware wallet is the time-consuming extra steps needed to transfer funds out of this mode of storage to an exchange, which could conceivably result in some traders missing out on profits. But with security being the main concern of the vast majority of holders, investors and traders too, this slight drawback is largely inconsequential in most situations. Paper Wallets Advantages and Limitations Paper wallets are thought by some to be the safest way to store your crypto assets, or more specifically, the best method of guarding the pathways to your assets on the Blockchain. By printing out your private key information, the route to your assets on the Blockchain is stored 100% offline (apart from the act of printing the private key out, the entire process is totally offline). This means that you will not run the risk of being infected with malware or become the victim of keylogging scams. The main drawback of using paper wallets is that you are in effect putting all your eggs in one basket, and if the physical document is destroyed, you will lose access to your crypto assets forever. Key things to keep in mind about your Wallet Security: Recovery Phrases/Private Key Storage/2FA/Email Security Recovery phrases are used to recover the on-chain location for your wallet with your assets for hardware wallets like ledgers and Trezors that have been lost. When you purchase a new ledger for example, you just have to set it up again by entering the recovery phrase into the display and the lost wallets will appear with your assets intact. Private key storage is of paramount importance to maintain the safety of your on-chain assets! This should be done in paper wallet form, or stored offline on a different computer, or USB device, from the one you would typically use to connect to the 2 Factor Authentication (2FA) sometimes known as “two step authentication”. This feature offers an extra security layer when withdrawing funds from cryptocurrency wallets. A specialized app, most commonly Google Authenticator, is synced up to the exchange to provide a constantly changing code. This code must be entered within a short time window to initiate transfers, or to log into an exchange, if it has also been enabled for that purpose. You must always consider the level of fees, or the amount of Gas, that will be needed to carry out the transaction. In times of high network activity Gas prices can be quite high. In fact, in December 2017 network fees became so high that some Bitcoin transactions became absolutely unfeasible. But that was basically due to the anomalous network congestion caused by frantic trading of Bitcoin as it was skyrocketing in value. When copying wallet addresses, double check and triple check that they are correct. If you make a mistake and enter an incorrect address, it is most likely your funds will be irretrievably lost; you will never see those particular assets again. Also check that you haven’t input the address of another one of your wallets that is designed to hold a different variety of cryptocurrency. You would similarly run the very great risk of losing your funds forever. Or, at the very least, if you have sent the wrong crypto to a large exchange wallet, for example on Coinbase, maybe you could eventually get those funds back, but it would still entail a long and unenjoyable wait. How to Monitor Funds There are two ways to monitor you funds and your wallets. The first is by searching for individual wallet addresses on websites specifically designed to let you view all the transactions on a particular Blockchain. The other is to store a copy of your wallet contents on an application that tracks the prices of all cryptocurrencies. Blockchain.info is the block explorer for Bitcoin, and it allows you to track all wallet movements so you can view your holdings and all the historical transactions within the wallet. The Ethereum blockchain’s block explorer is called Ether scanner, and it functions in the same way. There is a rival to Ether scanner produced by the Jibrel Network, called JSearch which will be released soon. JSearch will aim to offer a more streamlined and faster search method for Ethereum blockchain transactions. There are many different kinds of block explorer for each individual crypto currency, including nanoexplorer.io for Nano (formerly Rai Blocks) and Neotracker for NEO. If you simply want to view the value of your portfolio, the Delta and Blockfolio apps allow you to easily do that. But they are not actually linked to your specific wallet address, they just show price movements and total value of the coins you want to monitor. That’s not all! You can learn how to transfer and monitor the funds in and out of your wallet by clicking on the link. To be continued! UBAI.co Contact me via Facebook, Instagram and LinkedIn to learn more about the best online education: LinkedInFacebookInstagram
[uncensored-r/CryptoCurrency] Predictions for 2018 and lessons learned from trends in 2017
The following post by arsonbunny is being replicated because some comments within the post(but not the post itself) have been openly removed. The original post can be found(in censored form) at this link: np.reddit.com/ CryptoCurrency/comments/7qk781 The original post's content was as follows:
I'd like to take the time to reflect on the crazy year that was 2017 for cryptocurrency investors, and weigh in on what we've learned over the past year, while also making a few predictions for the future. One year feels like a decade in crypto, and so many various forces finally cumulated together in 2017 that we had an explosion of activity that left me feeling both exhausted and exhilarated. We saw LTC go on Coinbase, we saw an ICO rush with new issues like Bancor raising 150mil in 3 hours, we saw the absurdity that is cryptokitties crushing the ETH network, we saw Bitcoin Cash and the shitshow surrounding that, we saw Segwit and the long awaited Bitcoin futures. I will always remember where I was at the moment I watched Bitcoin pass $10,000 on GDAX. I will never forget the sweat as I watched the Gemini Auction for my BTC and then waiting for the payment to settle. And I will never forget the flurry of questions, advice seeking and inquiries from people in December as the media spotlight made cryptocurrencies a mainstream concern. We've come a long way, from the days of being considered oddball technogeeks to now being the vanguard of early adopters.
Some major trends in 2017 and lessons learned
The Mainstreaming of Cryptocurrencies: This was the year that the "normies" entered crypto in astounding numbers, especially later in the year and cumulating in December. From Ice Tea companies to my hairdresser, everyone wanted to be involved in crypto. New naive money will continue to pump into the market this year, and its important we welcome them while also keeping their expectations grounded in reality. Encouraging new investors with stories of how they can double their investment in a week is not a sustainable method of keeping them interested in crypto.
ICO Craze: For many 2017 was the year that the ICO. People made a ton of money by getting into ICOs early before a coin became hyped by the marketing efforts. Sites like ICOBench sprung up and provided people an easy way to find new ICOs to invest in, and those who got in could get a handsome profit by buying the coins for pennies then selling them for dimes a few months later at an exchange, with many ICOs offering pre-sale discounts for early registrations. I suspect that this trend will actually die out in 2018 as there seem to be way too many coins coming out now and they won't all be able to pump, we're already seeing ICOs recently getting dumped hard the moment they start trading on an exchange.
The rapid development of altcoin investment: At the beginning of the year the marketcap for altcoins as just $2 billion. By the end of 2017 it grew to over $370 billion. This was the year that investing in cryptos became about more than just Bitcoin. We saw an explosion of new promising altcoins, Binance launched in July, LTC was added to Coinbase and Ethereum really came into its own as a dominant force. I suspect that this focus on altcoins will continue as its now easier than ever to research and obtain them.
Resilience in the face of regulation: China banned initial coin offerings and bitcoin exchanges in the first weeks of September. The ban caused a precipitous drop in cryptocurrency flows worldwide and invoked panic within me, with Bitcoin going down to almost $3K. However we recovered surprisingly quick. This is why I wasn't too concerned with the recent news that Korea may crack down on exchanges. Cryptocurrencies are decentralized and distributed, and while government actions certainly can hurt the price in the short term, I think any attempts at increased crackdowns will result in a recovery within a few months. Crypto seems to be a lot more resilient than most people realize to laws trying to destroy it, so don't freak out when you hear a story about increased regulation in the Far East.
Institutional money coming in: We saw the speculation of an ETF not come to fruition, but in December the CME Group and CBOE started trading futures on Bitcoin. The lead up to this event and the subsequent decline and relative stabilization of Bitcoin will lead to a cascade of effects. We now have a genuine price discovery mechanism that will put downward pressure on BTC with its futures contracts. McAfees predictions of a million dollar BTC are not going to come to fruition now that you can short it.
Chase for the "next bitcoin": Lambo psychosis dominated and continued into the new year with nearly every coin in the top 100 showing a steep parabolic rise. This is actually something a lot of long term investors find deeply troubling, because now people are hungry for crazy x10 gains within a month and that is simply unsustainable.
Some predictions for the year 2018
Decline for Bitcoin I have a long-standing emotional connection to Bitcoin and really do want it to succeed. But by now even the early adopters have come to accept how far away we are from the original vision of the currency. We are now seeing a decrease in adoption among ecommerce sites, which a sad state of affairs. I'm not so confident that Lighning will be enough at this point. Lightning likely wont be here for at least another 1-2 years and the problem will be user adoption. Segwit gave users a 40% discount on fees, and was a relatively simple upgrade, yet its 2018 and only 8% of transactions come from Segwit addresses. LN is way more difficult to implement, so don't expect it to be useful for at least a year after release. Core developers should have followed through with the New York Agreement and increased the blocksize to 2 MB. It's actually much more practical to scale BTC through miners than users, as most miners abide by the rules of a small set of mining pools and use the same software. Segwit2X was doomed to failure but it had 90% support among miners before the campaign against it started, and even after it had over 70% miner support. I think 70% miner support before a fork is vastly better for initiating a change than 8% user support. Core team really needs to wake up right away and realize that the continual declines in market dominance are a reflection of Bitcoins failure to find utility, and that the first movers advantage and name brand will not last forever. Unless it solves the problem of insane transaction fees, ballooned mempool size, long transaction times and most of the accounts not even being able to afford to move the balance out I don't see BTC doing anything but declining in market dominance. Ethereum will become an even more dominant force I can see the long awaited flipening come in 2018. Ethereum already processes way more transactions than anything else, it already is basically THE platform for new coins and powers so much of the entire cryptocurrency ecosystem. The Constantinople fork and Casper Proof-of-Stake changes should take care of the TPS limitations for the next few years, and I expect to see an explosion of dApps in 2018. Ethereum has tons of developer support behind it and POS means people will want to hold it for the long term. Its already become my #1 core/safe-haven position and I think a 3-5K range in 2018 is completely reasonable. The emergence of transactable business-oriented blockchains The last few years were about theory and technological innovation, but I think 2018 will be the year that cryptocurrencies finally start to demonstrate value in solving business problems. Ultimately a cryptocurrency is pointless if it doesn't solve some transactional problem or alleviate some inefficiency in the value-exchange process. There are several sectors/cases for business users that are ripe for blockchain technology: supply chain, settlement layers between intercurrency transactions, payment processing, offloading processing tasks onto blockchains, identity management...etc. I expect that transactable coins that actually have functionality will be the big winners. ICX, WTC, VEN, NEO, XLM and others that target enterprise-oriented use cases will likely be the focus over the next year. The rise of a DAG coin as a standard for transfers between exchanges, most likely Raiblocks (XRB) Lets be perfectly honest: Right now the vast majority of transactions being conducted on the blockchain is simply moving cryptos around various exchanges. Its quite a nerve-wracking process, watching thousands of dollars sitting unconfirmed on the blockchain explorer for hours is not a pleasant experience. If you move your balances a lot you will end up losing substantial money to transfer fees. This is why I can see a light fast DAG becoming a standard for inter-exchange transfers of funds, specifically XRB after it gets listed on Binance. Being a DAG the process of onboarding isn't as simple as just adding another ERC20 coin, but once the Raiblocks team figures this out on Binance I suspect that adoption will follow quickly to other exchanges. The quick transactions speed and no cost will make it the ideal coin to exploit arbitrage between less liquid and more liquid markets. The rise of "dividend" coins" The next year should be one where the stretched valuations are questioned, and those coins that pay out a form of dividend and can thus be easily valued will become a safe harbor. NEO, EOS, ARK, VEN,OMG among others should gain favor. We actually saw NEO do particularly well in this recent downturn. I expect to see a lot more also following this dividend payment model. **The move away ...
Thermodynamics & Silent Weapons for Secret Wars or Crypto Anarchy 101: Statists Failing & Anarchists Thriving
Crypto Anarchy 101: Statists Failing & Anarchists Thriving The black-market, the free-market, is what kept people alive throughout the worst of oppressions. The black market has been the art of surviving amidst all types of tyrannies and slaveries. The black market, aka System D, is something that everyone in the world will need to start getting comfortable with. CryptoAnarchy is the ultimate manifestation of complete market freedom, and it is here to stay. Libertarians are beginning to finally realize their incredible advantage within this new market environment. The unfortunate statist masses have been programmed to feel uncomfortable with the mere idea of complete market freedom. Keep in mind that as of 2009, half of the world’s workers- around 1.8 billion – were employed by System D. The black market is only expected to grow even more so with the incentive structures being built out in order to advance the technological advancements of cryptography. Humanity has never experienced a true free-market until now. For the first time in history one is beginning to take shape. The traditional business sector is beginning to realize that they are not even mentally equipped for the implications of having applied cryptography that is powered by market incentives. This is evident in their trite attempts at integrating these new technologies with traditional banking and financial systems. Their lack of creativity, and dependence on government, is a clear testament to how much they will be hurt in the coming future. Statists Double Down after Failure: Tether and Stablecoins Many within the crypto space have attempted to bridge the gap between legacy banking and cryptocurrencies. Amongst the various attempts at capitalizing with these new technologies, the idea of a stablecoin entered the space via Tether (USDT). A stable coin is a cryptocurrency that is pegged on a 1 to 1 ratio to the US dollar, or any other asset- like gold- or fiat. Tether operated as a stable coin pegged to the US dollar on a 1 to 1 ratio. The biggest attribute behind stablecoins resided in their ability to provide stability in an otherwise volatile market. For a long time many within the crypto space were curious about Tether’s means of operating with USD. Earlier this year TDV was the first entity to exclusively reported to its subscribers the origin of Tether’s “secret sauce;” fractional reserve banking. The laws of fractional reserve banking allowed the Noble Bank of Puerto Rico to provide Tether with the legal means of operating as a stable coin pegged to the US dollar. The Noble Bank recently went bankrupt due to being insolvent. Noble Bank was the bank of Bitfinex and Tether. As a result, Tether and Bitfinex ended their relationship with Noble Bank. It is important that you as a subscriber move your crypto out of Bitfinex. You should never keep your cryptoin exchanges. When you do this you don’t actually control the private keys of your coins. (If you are an active trader, please consider using Bisq. Bisq is an open source decentralized exchange that does not control your private keys while trading. It is the most Anarchist exchange in the market right now.) After losing its partnership with Noble Bank, Bitfinex began banking with HSBC. On October 15th, Bitfinex tweeted that their fiat deposit system was re-enabled. Overall, Bitfinex is still in the midst of reorganizing itself as an exchange with proper banking liquidity. For this reason we are of the opinion that it is best to stay away from Bitfinex until they are more solvent in their banking partnerships. Tether (USDT) on the other hand is suffering from a lack of proper banking structures. Binance paused all USDT withdrawals and KuCoin, the exchange, also paused USDT deposits and withdrawals. Tether is currently at around 2.1bn dollar market cap. Tether holders are having a difficult time cashing out of their Tether for USD. It is expected that unless Tether gets its banking situation sorted out, we will see movement out of Tether. This situation has caused the price of Tether to hit a low of $0.90 to the USD. As of writing this, Tether is trading at around $0.97 to the dollar. The situation for Tether is dire at the present moment. We expect to see many Tether holders drop their Tether for Bitcoin, or other more cryptographically secure cryptocurrencies. This will more than likely be one of the main strategies that will be implemented in order to cash out of Tether. This overall situation is once again showing us how unstable things are when dealing with fiat. We hope for the market to realize that there is more security in cryptocurrencies than there is in fiat backed stablecoins. Stablecoins will always have the instability of the fiat currencies that they are pegged to. The time will eventually come when people will realize that cryptocurrencies are a better store of value than stablecoins. In spite of all of the issues circulating Tether, statist entrepreneurs are doubling down on their desire for stablecoins. We are seeing the beginning of what we believe will be a trend in the upcoming future; that is, stable coins pegged to various countries’ fiat and assets like precious metals. The new USD stablecoins recently announced to the market are GeminiUSD, TrueUSD, and Paxos Standard. Volatility as a Sign of Life in the Market Contrary to the statist perception on volatility, one can also view volatility in crypto as proper to a market that is fully alive. Crypto, for the first time in history, freed the market from bankster manipulation. Arguably, volatility is to be expected in an unregulated free-market where everyone in the world is for the first time welcomed to participate. In comparison to the legacy financial system, crypto is fully alive while the former is handicapped by regulations, coercion, and disconnected from true free-market signals. That is, volatility signals of a free-market that breathes freely for the first time. Volatility is indicative of a market that is fully alive. The desire for individuals to attach crypto to the legacy financial system, under the pretense of “less volatility,” is indicative of individuals that will have a hard time operating outside the bounds of regulation and government coercion. As long as we have statists uncomfortable with Anarchy, we will have stablecoins pegged to fiat. Various Libertarian entrepreneurs are also beginning to dabble with the idea of a stablecoin that is pegged to precious metals. The challenge of these projects will be the same regulation that oversees fiat. Remember that the difference offered to the world by cryptocurrencies resides in crypto’s ability to operate freely within System D, without regulation. It is this new market, the true free-market, that for the first time is unstoppable. Bitfinex’s Effect on EOS Bitfinex is one of the entities that holds the greatest amount of votes for EOS Block Producers (BPs). For this and other reasons, we are currently expecting a shakeup of votes for selected top BPs. It is important that you remain attentive to the happenings within EOS and move your votes accordingly. We will soon be coming out with more details on our perceptions regarding various BPs. There are various discussions regarding BPs pending arbitration. This is a good thing. All shakeups lead us closer to more transparency and accountability. This should not directly affect the price of EOS, aside from what will result from the expected FUD of future BP shake-ups. The Resilience of CryptoAnarchy after Blockstream’s Fake Sidechain Amongst the various innovations within Bitcoin, sidechains have- for the past 5 years- existed as one of the holy grails of innovation. Blockstream, as a company, was put together to manifest sidechains. They sold us the concept of a sidechain as they were sourcing capital during their first rounds of investment; this was in October of 2014. Sidechains were supposed to be delivered by Blockstream as a way to make Bitcoin innovation competitive to that of altcoin innovation. Sidechains were supposed to be “the Altcoin killer.” After all of this time, Blockstream only delivered Liquid - which is not a sidechain- and called it a “sidechain.” That is, Liquid is not a sidechain when properly defined. Liquid is a multi-signature layer that allows for multiple exchanges to pool their money together to transfer funds amongst themselves. Liquid is not a true sidechain, it is more precisely a multi-signature wallet. Calling Liquid a “sidechain” was just a marketing scheme by Blockstream in order to impress the illusion that they had delivered what they had promised. They didn’t. Blockstream gave up in attempting to create a true sidechain and created a multi-signature wallet instead. Keep in mind that Liquid is a “private sidechain.” Note that a proper sidechain ought to be made with open-source innovation in mind. Many of us see the actions of Blockstream as a bait and switch marketing scheme. (For the rest of this article I will use the words “Drivechains” and “sidechains” interchangeably as synonyms. Drivechains are what sidechains originally were supposed to be- according to the original Blockstream Sidechain white paper. Blockstream’s bait and switch marketing scheme led to them calling “sidechain” a multisignature wallet that is not at all what they promoted on their white paper. Paul Sztorc, in an attempt to differentiate himself from the Blockstream perversion of the word “sidechains,” called his development of true sidechains “Drivechains.”) Drivechain Sidechains Paul Sztorc, the creator of decentralized prediction markets, was very much looking forward to Blockstream’s creation of sidechains. It was his hope that his decentralized prediction market would run as a Bitcoin sidechain. At about the end of 2015 Sztorc was done with BitcoinHiveMind, his decentralized predictions market (previously known as TruthCoin). After realizing that Blockstream was not going to deliver on sidechains, as promised, Sztorc felt he needed to build it himself. The creation of his Drivechains started off as a means to an end for Sztorc; he needed true Sidechains for his decentralized predictions market- so he build it himself. On September 24, 2018 Paul Sztorc announced the launch of the first Drivechain release. This release was accompanied with fervent followingof old-school Bitcoiners that immediately jumped into experimenting with Drivechains on the testnet known as “Testdrive.” The Drivechain protocol is an alternative to the sidechain project originally proposed by Blockstream. It is a simpler design that enables blockchain compatibility in which the system still utilizes the same 21 million bitcoin ruleset- the Nakamoto consensus. Drivechains are intended to allow for permissionless innovation without diluting or challenging the value of the main cryptocurrency. Contrary to other means of innovation within crypto, any innovation that comes from a Drivechain sidechain actually adds value to the Bitcoin protocol- for it does not dilute the main cryptocurrency. Satoshi vaguely discussed the importance of the ideas of sidechains and multi-blockchain connectivity on June 17, 2010. This creation, of providing varied market options, make infighting and political discourses regarding consensus upgrades now seem infantile. Drivechains will provide the market with ongoing competitive solutions for blockchain development. Investors will now be exposed to options that would otherwise have been shunned in a less free environment. The strategic advantage of Drivechain sidechains is that they will offer investors various options in the form of alternative chains. It is important to keep in mind that Drivechains are available for blockchains with the same UTXO set. That is, Drivechains are available for both BitcoinCore (BTC) and BitcoinCash (BCH). How Drivechains work Namecoin was the vision of early Bitcoin adopters of creating a DNS and identity infrastructure based on Bitcoin; that is, .bit DNS. This technology piggy backed on top of Bitcoin mining. That is, if you so chose you could merged-mined Namecoin alongside BTC or BCH. Namecoin can absorb hashrate from BTC or BCH without needing its own miners. Merge-mining with BTC or BCH is also the process of validating and safeguarding Drivechain sidechains. Unlike Namecoin, Drivechain sidechains don’t require miners to run special software. For Drivechain sidechains miners implement what is known as blind-merge-mining. In blind-merge-mining the nodes of the sidechain run the software, not the miners. This operates under the assumption that the nodes running the software also hold BTC or BCH. A payment fee is paid to miners to blind-merge-mine the sidechain, in a similar way that Namecoin merge-mining pays a fee. In this process, miners don’t have to run any software- they just passively make money for blind-merge-mining blocks with sidechains. The main difference with sidechains is that you are not mining another coin like Namecoin, but rather you are mining the same BTC or BCH in another sidechain when you do the blind-merge-mining. Miners don’t get paid with the sidechain, they receive payment from the mainchain that they already trust when they blind-merge-mine. Miners are also economically benefited by always getting paid in the superior coin that they are already intentionally mining; BTC or BCH. As BTC or BCH moves in and out from the mainchain to a sidechain, there might be claims of ownership that may cause disputes. Drivechain prevents this by emphasizing the superiority of the mainchain over sidechains. Sidechains have to report on exactly what it is doing- at all times- to the main chain. Whenever a sidechain wants to transfer money back to the mainchain it has to do it very slowly. This safeguards the network from theft. The slow movement of funds from the sidechain to the mainchain can be arbitrage by individuals who will be willing to purchase sidechain receipts for BTC or BCH coming from sidechains at a discount. People will also be able to do atomic swaps between chains in the near future. (Atomic swaps, or atomic cross chain trading, is the exchange of one cryptocurrency to another cryptocurrency, without the need of trusting a third-party). It is the intent of Drivechains to create the interaction of miners with sidechains as seamless as possible. However, it is still important to have guarantee that money ends up in the right place. This is the reason for the slow movement of funds from sidechains to the mainchain. The movement of a certain amount of transactions coming from a sidechain to the mainchain is batched up into one transaction with its own transaction ID. This transaction is frozen in place where miners and developers can examine it for at least a month (there are talks of even making this process longer between 3 to 6 months). During this time miners vote on whether to allow the payment to go through or not. Upon receiving enough upvotes, the batched up transactions are released unto the mainchain. The slowing down of movement of BTC or BCH from sidechains to mainchain decreases the threat of miners stealing BTC or BCH from a sidechain. The sidechains are always watching the mainchain, so they know to credit people immediately when the mainchain sends money to it. Sidechains also know when the miners have accepted the release of batched up locked funds that are released unto the mainchain. Once the sidechain receives notification of the miners acceptance of funds in the mainchain, the sidechain destroys the funds that were frozen awaiting miner upvotes. It is overall acknowledged that sidechains increase the value of BTC and BCH, which eventually make mining more profitable. It would be counterproductive for miners to attack and steal funds from sidechains. That is, miners acting maliciously decreases the value of their own equipment. In spite of this fact, it is good that Drivechains make it increasingly more difficult for theft to occur. Miners, through their voting process, also get to punish bad sidechain actors. Any malicious sidechain will be cleaned out by miners. This is the opposite of the Ethereum model where anyone can code anything into the Ethereum blockchain, to the point that it could become a detriment to the Ethereum mainchain itself. That is, anyone can create a new ERC20 or ERC721 token without any vetting from the network. Coins are moved from the mainchain to the sidechain by means of sending coins to an address that represents the sending of funds from the mainchain to the sidechain. Anyone running the given sidechain software will recognize that funds were sent to the sidechain- this will automatically credit the person with the same amount of BTC or BCH on the sidechain. Also, the sidechain is programmed to recognize the reception of funds unto the mainchain address from where it will automatically credit the user the same amount of BTC or BCH unto a sidechain wallet. People on the mainchain don’t have to know anything about this particular address. As far as they know, it is just another address. Embrace the Spontaneous Order of Market Anarchy It is important that people within BTC and BCH take on a more Hayekian approach to entrepreneurship. Many within crypto are uncomfortable with the mere notion of spontaneous order. It is important that we as Ancaps lead the way in motivating people to experiment with their entrepreneurship. In the past few years, the desire of individuals to covet the development of crypto has become more apparent. These people need to be ignored. No one is the leader of Bitcoin or crypto development. The best innovators within crypto are those that create tools that empower other entrepreneurs to create more options. It is this spontaneous order that we should welcome and promote at all times. Many within BTC and BCH will not accept or feel comfortable with the radical spontaneous order enabled by Drivechains. This is good reasonto brush up on your Austrian Economics in order to properly confront minds that are fearful of human freedom. The Ancap entrepreneurs who are most comfortable with spontaneous order will be the same ones who will produce the greatest amount of value. The development of CryptoAnarchy is guided by the science of praxeology and Austrian Economics. Drivechains are testament to the augmentation of our libertarian order are necessary for CryptoAnarchy to thrive. Drivechains and Investment Strategy The philosophical and economic advantage of sidechain innovation is that it enables the development of BTC and BCH with an investor-centric intention. It is the market’s investment that now decides the best means for scaling and development. Politics and propaganda take an almost insignificant backseat to that of market forces. The technology is now readily available for investors to test drive with their BTC or BCH on any given proposed sidechain. That is, you actually get to experience the value, or lack of value of a new innovation without jeopardizing your position as an investor. All investment decisions are about strategy. Sidechains empower the investor’s strategy by allowing the investor to survey all of the possible value propositions of his/her original investment without having to incur any actual costs. In a similar way, sidechains also provide developers with quick market feedback on the aspects of development that are most favored by the market. Drivechains are a pivotal step in maturing the crypto space into becoming more conscientious in considering the investment strategy of those buying the coins. It is important for innovators to start taking the investor’s strategy into account. Drivechains force developers to consider what is best for the investor, not just what is desired by a given team of developers. Here we have not only a better proposition for investors, but also an incentive for developers to use Drivechains in future crypto experimentation. When experimenting with an altcoin, the measure of success is contingent on this new altcoin gathering a new pool of investors to literally buy into the project. With a sidechain you are already dealing with a more seasoned group of investors that will provide you with more accurate market feedback, being that their investment is now fortified by all other sidechain experimentations that they have already tested at no cost. Altcoins will soon no longer be the locus of innovation within crypto. All future innovation will be offered the option to experiment within BTC or BCH via sidechains. Keep in mind that all previous innovations, already tested in the market by successful altcoins, are now easily adopted by BTC or BCH. It is also important to note that creative experimentation on sidechains do not at all jeopardize the mainnets of BTC or BCH. On the contrary, sidechains will make BTC and BCH much more valuable. When the Drivechain craze begins we will see a BTC and BCH bull run. Don’t be surprised if sidechains are the main reason for the next all time highs. Statists Failing & Anarchists Thriving It is important that we understand that the legacy banking system is completely dead. They are barely adopting simulations of cryptocurrencies unto their banking structures to stay alive. Stablecoins are a manifestation of this bankster angst to remain current. True market innovation is found in the embrace of Market Anarchy. CryptoAnarchy is growing exponentially with tools that are beyond the reach of state megalomaniacs. Drivechains are an example of the CryptoAnarchist tools that will result in further anti-fragility of this new crypto free-market. Proper Austrian Economic incentive structures coupled with applied cryptography is our lethal weapon against nation states and central banks. Arguably, our Ancap philosophy is what guides applied cryptography in the market towards success. For this reason it is important that we keep revisiting the texts of Rothbard, Mises, Hayek, and Konkin throughout our crypto endeavors. Peace! by Rafael LaVerde Source TL;DR: How familiar are you with thermodynamics and silent weapons for secret wars? How familiar are you with the Brave New World Order?
https://preview.redd.it/709g6p8g54011.jpg?width=1920&format=pjpg&auto=webp&s=5864cddf06cdfa93596983647faba08cf1e050c1 Hello everyone, we hosted the AMA (ask me anything) in our community yesterday. The co-founder Mason answered the questions of the group members one by one. Due to limited time, we only answered some typical questions. Please understand. After the event, we organized all the questions in the group into articles for you to review. Of course, if your question is not in this article, please send an email to [[email protected]](/). 1.How long has the project been going on? And when can we expect the launch of the mainnet? When we were in the form of the company Dianrong.com, we started the development and open source it on GitHub after 2yrs. In the end, we decided to raise money in an ICO form. The most crucial part of the project is building a network that support’s DApp’s, and that’s something we’ve already achieved. For more information regarding this, please visit the following article we wrote: https://medium.com/@hero_node/hero-node-dashboard-is-officially-launched-taking-a-big-leap-in-dapp-development-8ccd28f60c64 Also, our own public chain will be published at the end of 2019! 2. When can we expect a detailed roadmap? The roadmap in the whitepaper contains our complete roadmap, this will be added to the website soon! 3. Why do you have two Telegram groups? Because of high interest, our first group reached the maximum amount of members, to give everyone a chance we decided to create a second group! But, we will try to see if we could emerge everything back into one group! 4. What is the nature of the partnership between Hero Node & Qtum? We have a technical cooperation with public chain investors such as Qtum, ITC and BTM. Hero Node plans to support a number of public chains including Zilliqa. We believe that Hero Node can help them on expanding their markets /eco-system by integrating the public chain services, besides that we also require a variety of public chains to solve different challenges. 5. How can we verify your investment from Fenbushi and Qtum? For Qtumm please go to: https://qtumeco.io/dapps and for Fenbushi, please check the images below: https://preview.redd.it/9my79za954011.jpg?width=1080&format=pjpg&auto=webp&s=81f028ce542dcf9b0a0c36c6dec84502036475ce 6. Why didn’t Hero Node choose to support the price? We just started and are really in the beginning stage of this amazing project, we don’t want to manipulate currency prices. We believe that with the development of the project the price will rise! 7. Do you have your own public chain? As stated in the first question we will publish our own public chain at the end of 2019. For more information regarding our public chain please read the whitepaper. The project was divided into three phases: Validation Reward Community During the first two phases, we’ll be making use of the tokens based on ERC-20. When we enter the last phase the tokens will be generated by our own blockchain consensus algorithm. 8. I think the code on GitHub is not so crucial? That’s because we only publish the code of the reward and consensus mechanism. We do have plans to publish the complete code after we’ve fully tested and verified everything. 9. Why can the refund be done only during specific times? and why is it mandatory that you can only refund if you haven’t traded the tokens? We’ve chosen to open refunds at specific times to give our investors some time to think about the refund program. Regarding the second questions, we have implemented this policy to prevent investor using the refund for arbitrage which can have an impact on the market. 10. Who are Hero Node’s direct competitors? Why is Hero Node better than others, for example, EOS, FileCoin, IPFS? Both Hero Node and EOS are trying to serve the Dapp development, but as you can see we’ve taken a completely different approach. Hero Node prefers to be completely decentralized, so it integrates some public chains rather than create an all-round chain. In frontend decentralization, Hero Node and IPFS are very similar, but we are not Dweb, but help developers to deliver the real Dapp. Also regarding the incentives part, we are not the same with FileCoin. If interested in that, I recommend everyone to read the posts I wrote on Medium about EOS and IPFS: https://medium.com/@hero_node/solution-to-the-impossible-trinity-talking-from-the-trend-of-ipfs-web-player-56f28a0abcc6 https://medium.com/@hero_node/attention-eos-could-really-be-a-cancer-cell-9420d7ea8c16 11. How can I get in contact with your recruitment team? Please send your resume to [[email protected]](/) 12. How many tokens do we need for running a node? Running nodes won’t consume your tokens, but developers need to lock the tokens to get more resources, such as storage, bandwidth, etc. 13. Which kind of consensus mechanism is Hero Node based on? PoS or PoW? It will be similar to PoW but different with Bitcoin, our public chain will use a creative algorithm which is different with PoW/PoS. For a more in-depth description of our consensus, please read the article: https://medium.com/@hero_node/talking-about-the-proof-of-existence-consensus-mechanism-9e90b7e8f4b7 15. What is the main focus of the team at the moment? We are currently focusing on development & marketing! 16. Why are you listed on the Dapp page of Qtum? Are you their Dapp? No, but we can help them with their ecosystem, their developers can use Hero Node to easily develop a Dapp based on Qtum chain. 17. Why do you have a refund policy? Because we want to protect our investors. 18. How big is the team? And how many of them are developers? Our team consists of 14 people, 8 of them are developers. We have many part-time developers and are still hiring. 19. A lot of people are wondering when will Hero Node be listed on the next exchange, could you please shed some light on the Binance rumors regarding certain transactions There is this reliable ethscan service that informs about the listing of coins on exchanges, and more than often they are genuinely reliable. But we planned listing on exchanges within one month after ICO and of course there could be some top ones, but due to NDA we can’t say more about it until it’s finalized. Please keep an eye on our announcement channel, because that’s where we’ll be announcing it: https://t.me/HeroNodeChannel 20. Your advisory team seems more like finance people than blockchain experts, can you tell us more about the team? At the moment, Hero Node has 3 advisors: Kevin Guo is chairman of CBAC, which is the top organization of blockchain application in China Richard Wang, the partner of DFJ, many experience on blockchain investment such as Vechain. Also, he has many resources in the area. Jerry Liu, the professor from Stanford University. 21. Why is the contract of the crowd-sale, not open source? Because of security reasons, we’ll be open sourcing the contract after the refund is finished. Also because there could be some bugs for the Ethereum and smart contract written by Solidity. Although we’ve tested the contract many times, for security reasons we will keep it closed until the refund is finished. 23. When will the code of the node be open source? We will open source the code at the end of this year! 24. Compared to other cross-chain projects, what are the differences between Hero Node and others? Please read the following article: https://medium.com/@hero_node/liu-guoping-founder-of-hero-node-talked-about-blockchains-cross-chain-506b2d3f90f084 25. In what stage of development is Hero Node now? We’ve had some demo’s for DApps and have almost finished the integration parts of some public chains. If you’re interested you could take a look at our visualization map our node: http://184.108.40.206/dashboard/geo 26. What do you think about the crypto market? Is it a bubble? And do you think that blockchain technology is overvalued? We believe that blockchain is the future. 27. What did Hero Node do to help develop Dapp? In short, we did the following: Integration of public chains and distributed storage services. Cross-platform dev framework called Hero Mobile. The fully decentralized network and DApp eco-system 28、Do you have plan for integrating NEO? We’re considering a cooperation with them. 29. Can you tell us something about the deployment of nodes? At the moment we have ~10 nodes running all over the world, please check our visualization map: http://220.127.116.11/dashboard/geo 30. With which projects have you established a partnership? At the moment we have a partnership with Qtum, IoT, and much more is on the way! We plan to support a number of public chain including Zilliqa. 31. Where is Hero Node registered and where are you based? Singapore, but currently a part of the team is working from China. 32. Is the command “npm install” available? Yes, you can use the command to add ETH and IPFS service and welcome your contributions 33.Howdo you ensure that your team’s token are locked for 2 years, and will you be able to cash out in advance? Why not use smart contracts? We will announce the team’s address. 34.Don’ t we need a minimum amount of Her to setup a node ? No. 37. Why does the Hero Node team prefer to work with IPFS instead of Stroj for example? Our developers have more than 2 years of experience working with IPFS, we also did compare IPFS with other distributed storage services and IPFS came out as the most mature one at this moment 38. What is the lock plan for pre-sale tokens? Pre-sale tokens will be locked for 3 months including base and bonus. Every month 1/3 of the tokens will be unlocked. 39. Could you please tell us more about the partnership with Ziliqa? We’ve met them several times and are currently testing on their testnet. 40. How come HeroMobile is not updated frequently? HeroMobile is already a relatively mature project. But we’re definitely improving it. 41. How to run a node without having to stake any tokens? Running a node is like running a Bitcoin or Ethereum node. It does not require tokens, but it needs to provide hardware resources such as CPU, storage, and bandwidth. 42. How can we run nodes and is there an incentive structure to do so? Yes, we will have a mining mechanism similar to the mining algorithm of POW, refer to this article please: https://medium.com/@hero_node/talking-about-the-proof-of-existence-consensus-mechanism-9e90b7e8f4b7 43. Will the official decentralized Dapp still be launched in June ? Yes it will be at end of June. 44. When can we run nodes? At the beginning stage, we will provide partners with nodes to run and test. According to the roadmap, we will push it to everyone in early 2019. 45. Are the main target users of Hero Dapp developers? What’s the plan for adoption after the official launch? Not only developers, but also node providers, even ordinary users can use dapp developed based on HeroNode. We will first improve the node, and improve the tools and SDK at the end of this year. The next step will be to conduct a lot of testing, and all developers are welcome to join in the test. After the entire system has matured, we will hold many hackathon activities to attract more developers. Of course, there will be many token incentives. 46. When will you guys start focusing on marketing? We have already focused on marketing and are planning to do so even more. We welcome everyone to give us suggestions. 47. What is the next major milestone and when will that be reached? Next milestone is the first Dapp releasing at end of June. 48. The hereditary idiots who wanted to refund or have refunded where will those HER tokens go? Will they be burnt or added to the ecosystem? They will be reserved for partnerships. 49. Would you say you are in direct competition to EOS? If yes, how do differ? What is your edge for the adoption? We have the same goal. We hope to solve the problem of developing Dapp, but EOS wants to obtain a balance in high tps, security and stability. Hero Node adopts the advantages of many public chains and pays more attention to ecological construction. 50. EOS is a cancer. I saw this post on Reddit. What does it mean? EOS draws a lot of resources and it spreads like a cancer cell, affecting other ecologies. But in the end let’s see what it can give developers or if it is just a capitalist capital chase? 51. Dapp uses resources of Hero nodes that support both IPFS nodes and underlying blockchain nodes or are they the same? Hero Node will integrate public chain resources and IPFS resources to form a complete ecosystem for developers to use 52. Will you recruit more developers ? While you compare to EOS, you know they have a very big team. For sure, we will recruit more full-time and part-time workers. Development is our backbone. 53. Would you explain the difference between Hero Node and Filecoin model as they both consume resources by Dapps? Filecoin is also an ecosystem of IPFS, but we are not just focusing on the storage part. We focus on the entire Dapp development cycle. 54. I appreciate the NDA clauses but as parting gift from this AMA — Can we get any juicy information that we can share with others and help bring the price up more. At this stage we really could not share anything regarding our NDAs. Please be patient. There is lots of exciting news to come in the future. 55. Can someone please elaborate on the marketing efforts the team is doing?
Recruiting more operators
Some activities and development progress in China will also be synchronized to overseas media
We are planning meetups in various countries.
56. What does “lock token” mean by developers? This is a kind of behavior similar to the lease of resources. It can prevent resources from being abused, and it can positively cycle the entire ecosystem. 57. What’s the link on Medium of Hero? I want to read the articles about EOS and IPFS. https://medium.com/@hero_node 58. Which gas limit i should use to make refund? 100,000 59. Already 3.5M tokens got refunded (technically out of circulation for now)？ Actually the number is 5.7M 60. Can you provide several examples on how someone will use your project and why your project is the best for this? For example, when you place order an order on Amazon but use Paypal to fulfill the payment. These are two different companies with different processes. This is very difficult between the two public chains, at least for now it is difficult, Hero Node hopes to solve this problem by integrating the public chain and IPFS resources and creating a whole ecosystem. In the near future, you can use QTUM to place orders, but you will pay with ETH. 61. Seems to be the majority of people have no clue what they buy or why its unique I gotta be honest myself I don’t know the method behind coding for blockchain what do you use for coding and how do you test the code? Our code structure is divided into Hero Aggregate Layer, Hero Node Gateway, Hero Mobile Protocol, Hero Kit and so on. We will have unit testing for each function in each structure. After each unit runs tests, we will perform process testing and carry out a large number of tests before delivering the software. 62. What you think about Morpheus labs? Are they your competitors? Sorry, we don’t know much about them.
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