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Quant Network: Token valuation dynamics and fundamentals

Quant Network: Token valuation dynamics and fundamentals
This post intends to illustrate the dynamics and fundamentals related to the mechanics and use of the Quant Network Utility Token (QNT), in order to provide the community with greater clarity around what holding the token actually means.
This is a follow-up on two articles David W previously wrote about Quant Network’s prospects and potential, which you can find here:
For holders not intending to use Overledger for business reasons, the primary goal of holding the QNT token is to benefit from price appreciation. Some are happy to believe that speculation will take the QNT price to much higher levels if and when large-scale adoption/implementation news comes out, whilst others may actually prefer to assess the token’s utility and analyse how it would react to various scenarios to justify a price increase based on fundamentals. The latter is precisely what I aim to look into in this article.
On that note, I have noticed that many wish to see institutional investors getting involved in the crypto space for their purchase power, but the one thing they would bring and that is most needed in my opinion is fundamental analysis and valuation expectations based on facts. Indeed, equity investors can probably access 20 or 30 reports that are 15 pages long and updated on a quarterly basis about any blue chip stock they are invested in, but how many of such (professional) analyst reports can you consult for your favorite crypto coins? Let me have a guess: none. This is unfortunate, and it is a further reason to look into the situation in more details.
To be clear, this article is not about providing figures on the expected valuation of the token, but rather about providing the community with a deeper analysis to better understand its meaning and valuation context. This includes going through the (vast) differences between a Utility Token and a Company Share since I understand it is still blurry in some people’s mind. I will incorporate my thoughts and perspective on these matters, which should not be regarded as a single source of truth but rather as an attempt to “dig deeper”.
In order to share these thoughts with you in the most pertinent manner, I have actually entirely modelled the Quant Treasury function and analysed how the QNT token would react to various scenarios based on a number of different factors. That does not mean there is any universal truth to be told, but it did help in clarifying how things work (with my understanding of the current ruleset at least, which may also evolve over time). This is an important safety net: if the intensity of speculation in crypto markets was to go lower from here, what would happen to the token price? How would Quant Treasury help support it? If the market can feel comfortable with such situation and the underlying demand for the token, then it can feel comfortable to take it higher based on future growth expectations — and that’s how it should be.
Finally, to help shed light on different areas, I must confess that I will have to go through some technicalities on how this all works and what a Utility Token actually is. That is the price to pay to gain that further, necessary knowledge and be in a position to assess the situation more thoroughly — but I will make it as readable as I possibly can, so… if are you ready, let’s start!

A Utility Token vs. a Company Share: what is the difference?

It is probably fair to say that many people involved in the crypto space are unfamiliar with certain key financial terms or concepts, simply because finance is not necessarily everyone’s background (and that is absolutely fine!). In addition, Digital Assets bring some very novel concepts, which means that everyone has to adapt in any case.
Therefore, I suggest we start with a comparison of the characteristics underpinning the QNT Utility Token and a Quant Network Company Share (as you may know, the Company Shares are currently privately held by the Quant Network founders). I believe it is important to look at this comparison for two reasons:
  1. Most people are familiar with regular Company Shares because they have been traded for decades, and it is often asked how Utility Tokens compare.
  2. Quant Network have announced a plan to raise capital to grow their business further (in the September 2019 Forbes article which you can find here). Therefore, regardless of whether the Share Offering is made public or private, I presume the community will want to better understand how things compare and the different dynamics behind each instrument.
So where does the QNT Utility Token sit in Quant Network company and how does it compare to a Quant Network Company Share? This is how it looks:
https://preview.redd.it/zgidz8ed74y31.png?width=1698&format=png&auto=webp&s=54acd2def0713b67ac7c41dae6c9ab225e5639fa
What is on the right hand side of a balance sheet is the money a company has, and what is on the left hand side is how it uses it. Broadly speaking, the money the company has may come from the owners (Equity) or from the creditors (Debt). If I were to apply these concepts to an individual (you!), “Equity” is your net worth, “Debt” is your mortgage and other debt, and “Assets” is your house, car, savings, investments, crypto, etc.
As you can see, a Company Share and a Utility Token are found in different parts of the balance sheet — and that, in itself, is a major difference! They indeed serve two very different purposes:
  • Company Shares: they represent a share of a company’s ownership, meaning that you actually own [X]% of the company ([X]% = Number of shares you possess / Total number of shares) and hence [X]% of the company’s assets on the left hand side of the balance sheet.
  • Utility Tokens: they are keys to access a given platform (in our case, Quant Network’s Operating System: Overledger) and they can serve multiple purposes as defined by their Utility Document (in QNT’s case, the latest V0.3 version can be found here).
As a consequence, as a Company Shareholder, you are entitled to receive part or all of the profits generated by the company (as the case may arise) and you can also take part in the management decisions (indeed, with 0.00000001% of Apple shares, you have the corresponding right to vote to kick the CEO out if you want to!).
On the other hand, as a Utility Token holder, you have no such rights related to the company’s profits or management, BUT any usage of the platform has to go through the token you hold — and that has novel, interesting facets.

A Utility Token vs. a Company Share: what happens in practice?

Before we dig further, let’s now remind ourselves of the economic utilities of the QNT token (i.e. in addition to signing and encrypting transactions):
  1. Licences: a licence is mandatory for anyone who wishes to develop on the Overledger platform. Enterprises and Developers pay Quant Network in fiat money and Quant Treasury subsequently sets aside QNT tokens for the same amount (a diagram on how market purchases are performed can be found on the Overledger Treasury page here). The tokens are locked for 12 months, and the current understanding is that the amount of tokens locked is readjusted at each renewal date to the prevailing market price of QNT at the time (this information is not part of the Utility Token document as of now, but it was given in a previous Telegram AMA so I will assume it is correct pending further developments).
  2. Usage: this relates to the amount of Overledger read and write activity performed by clients on an ongoing basis, and also to the transfer of Digital Assets from one chain to another, and it follows a similar principle: fiat money is received by Quant Network, and subsequently converted in QNT tokens (these tokens are not locked, however).
  3. Gateways: information about Gateways has been released through the Overledger Network initiative (see dedicated website here), and we now know that the annual cost for running a Gateway will be 500 QNT whilst Gateway holders will receive a percentage of transaction fees going through their setup.
  4. Minimum holding amounts: the team has stated that there will be a minimum QNT holding amount put in place for every participant of the Overledger ecosystem, although the details have not been released yet.
That being said, it now becomes interesting to illustrate with indicative figures what actually happens as Licences, Usage and Gateways are paid for and Quant Network company operates. The following diagram may help in this respect:
Arbitrary figures from myself (i.e. no currency, no unit), based on an indicative 20% Net Income Ratio and a 40% Dividend yield
We have now two different perspectives:
  • On the right hand side, you see the simplified Profit & Loss account (“P&L”) which incorporates Total Revenues, from which costs and taxes are deducted, to give a Net Income for the company. A share of this Net Income may be distributed to Shareholders in the form of a Dividend, whilst the remainder is accounted as retained profits and goes back to the balance sheet as Equity to fund further growth for instance. Importantly, the Dividend (if any) is usually a portion of the Net Income so, using an indicative 40% Dividend yield policy, shareholders receive here for a given year 80 out of total company revenues of 1,000.
  • On the left hand side, you see the QNT requirements arising from the Overledger-related business activity which equal 700 here. Note that this is only a portion of the Total Revenues (1,000) you can see on the right hand side, as the team generates income from other sources as well (e.g. consultancy fees) — but I assume Overledger will represent the bulk of it since it is Quant Network’s flagship product and focus. In this case, the equivalent fiat amount of QNT tokens represents 700 (i.e. 100% of Overledger-related revenues) out of the company’s Total Revenues of 1,000. It is to be noted that excess reserves of QNT may be sold and generate additional revenues for the company, which would be outside of the Overledger Revenues mentioned above (i.e. they would fall in the “Other Revenues” category).
A way to summarise the situation from a very high level is: as a Company Shareholder you take a view on the company’s total profits whereas as a Utility Token holder you take a view on the company’s revenues (albeit Overledger-related).
It is however too early to reach any conclusion, so we now need to dig one level deeper again.

More considerations around Company Shares

As we discussed, with a Company Share, you possess a fraction of the company’s ownership and hence you have access to profits (and losses!). So how do typical Net Income results look in the technology industry? What sort of Dividend is usually paid? What sort of market valuations are subsequently achieved?
Let’s find out:
https://preview.redd.it/eua9sqlt74y31.png?width=2904&format=png&auto=webp&s=3500669942abf62a0ea1c983ab3cea40552c40d1
As you can see, the typical Net Income Ratio varies between around 10% and 20% in the technology/software industry (using the above illustrated peer group). The ratio illustrates the proportion of Net Income extracted from Revenues.
In addition, money is returned to Company Shareholders in the form of a Dividend (i.e. a portion of the Net Income) and in the form of Share repurchases (whereby the company uses its excess cash position to buy back shares from Shareholders and hence diminish the number of Shares available). A company may however prefer to not redistribute any of the profits, and retain them instead to fund further business growth — Alphabet (Google) is a good example in this respect.
Interestingly, as you can see on the far right of the table, the market capitalisations of these companies reflect high multiples of their Net Income as investors expect the companies to prosper in the future and generate larger profits. If you wished to explore these ideas further, I recommend also looking into the Return on Equity ratio which takes into account the amount of resources (i.e. Capital/Equity) put to work to generate the companies’ profits.
It is also to be noted that the number of Company Shares outstanding may vary over time. Indeed, aside from Share repurchases that diminish the number of Shares available to the market, additional Shares may be issued to raise additional funds from the market hence diluting the ownership of existing Shareholders.
Finally, (regular) Company Shares are structured in the same way across companies and industries, which brings a key benefit of having them easily comparable/benchmarkable against one another for investors. That is not the case for Utility Tokens, but they come with the benefit of having a lot more flexible use cases.

More considerations around the QNT token

As discussed, the Utility Token model is quite novel and each token has unique functions designed for the system it is associated with. That does not make value assessment easy, since all Utility Tokens are different, and this is a further reason to have a detailed look into the QNT case.
https://preview.redd.it/b0xe0ogw74y31.png?width=1512&format=png&auto=webp&s=cece522cd7919125e199b012af41850df6d9e9fd
As a start, all assets that are used in a speculative way embed two components into their price:
A) one that represents what the asset is worth today, and
B) one that represents what it may be worth in the future.
Depending on whether the future looks bright or not, a price premium or a price discount may be attached to the asset price.
This is similar to what we just saw with Company Shares valuation multiples, and it is valid across markets. For instance, Microsoft generates around USD 21bn in annual Net Income these days, but the cost of acquiring it entirely is USD 1,094bn (!). This speculative effect is particularly visible in the crypto sector since valuation levels are usually high whilst usage/adoption levels are usually low for now.
So what about QNT? As mentioned, the QNT Utility model has novel, interesting facets. Since QNT is required to access and use the Overledger system, it is important to appreciate that Quant Network company has three means of action regarding the QNT token:
  1. MANAGING their QNT reserves on an ongoing basis (i.e. buying or selling tokens is not always automatic, they can allocate tokens from their own reserves depending on their liquidity position at any given time),
  2. BUYING/RECEIVING QNT from the market/clients on the back of business activity, and
  3. SELLING QNT when they deem their reserves sufficient and/or wish to sell tokens to cover for operational costs.
Broadly speaking, the above actions will vary depending on business performance, the QNT token price and the Quant Network company’s liquidity position.
We also have to appreciate how the QNT distribution will always look like, it can be broken down as follows:
https://preview.redd.it/f20h7hvz74y31.png?width=1106&format=png&auto=webp&s=f2f5b63272f5ed6e3f977ce08d7bae043851edd1
A) QNT tokens held by the QNT Community
B) QNT tokens held by Quant Network that are locked (i.e. those related to Licences)
C) QNT tokens held by Quant Network that are unlocked (i.e. those related to other usage, such as consumption fees and Gateways)
D) the minimum QNT amount held by all users of the platform (more information on this front soon)
So now that the situation is set, how would we assess Quant Network’s business activity effect on the QNT token?
STEP 1: We would need to define the range of minimum/maximum amounts of QNT which Quant Network would want to keep as liquid reserves (i.e. unlocked) on an ongoing basis. This affects key variables such as the proportion of market purchases vs. the use of their own reserves, and the amount of QNT sold back to the market. Also, interestingly, if Quant Network never wanted to keep less than, for instance, 1 million QNT tokens as liquid reserves, these 1 million tokens would have a similar effect on the market as the locked tokens because they would never be sold.
STEP 2: We would need to define the amount of revenues that are related to QNT. As we know, Overledger Licences, Usage and Gateways generate revenues converted into QNT (or in QNT directly). So the correlation is strong between revenues and QNT needs. Interestingly, the cost of a licence is probably relatively low today in order to facilitate adoption and testing, but it will surely increase over time. The same goes for usage fees, especially as we move from testing/pilot phases to mass implementation. The number of clients will also increase. The Community version of Overledger is also set to officially launch next year. More information on revenue potential can be found later in this article.
STEP 3: We would need to define an evolution of the QNT token price over time and see how things develop with regards to Quant Network’s net purchase/sale of tokens every month (i.e. tokens required - tokens sold = net purchased/sold tokens).
Once assumptions are made, what do we observe?
In an undistorted environment, there is a positive correlation between Quant Network’s QNT-related revenues and the market capitalisation they occupy (i.e. the Quant Network share of the token distribution multiplied by the QNT price). However, this correlation can get heavily twisted as the speculative market prices a premium to the QNT price (i.e. anticipating higher revenues). As we will see, a persistent discount is not really possible as Quant Treasury would mechanically have to step in with large market purchases, which would provide strong support to the QNT price.
In addition, volatility is to be added to the equation since QNT volatility is likely to be (much) higher than that of revenues which can create important year-on-year disparities. For instance, Quant Treasury may lock a lot of tokens at a low price one year, and be well in excess of required tokens the next year if the QNT token price has significantly increased (and vice versa). This is not an issue per se, but this would impact the amount of tokens bought/sold on an ongoing basis by Quant Treasury as reserves inflate/deflate.
If we put aside the distortions created by speculation on the QNT price, and the subsequent impact on the excess/deficiency of Quant Network token reserves (whose level is also pro-actively managed by the company, as previously discussed), the economic system works as follows:
High QNT price vs. Revenue levels: The value of reserves is inflated, fewer tokens need to be bought for the level of revenues generated, Quant Treasury provides low support to the QNT price, its share of the token distribution diminishes.
Low QNT price vs. Revenue levels: Reserves run out, a higher number of tokens needs to be bought for the level of revenues generated, Quant Treasury provides higher support to the QNT price, its share of the token distribution increases.
Summary table:
https://preview.redd.it/q7wgzpv384y31.png?width=2312&format=png&auto=webp&s=d8c0480cb34caf2e59615ec21ea220d81d79b153
The key here is that, whatever speculation on future revenue levels does to the token in the first place, if the QNT price was falling and reaching a level that does not reflect the prevailing revenue levels of Overledger at a given time, then Quant Treasury would require a larger amount of tokens to cover the business needs which would mean the depletion of their reserves, larger purchases from the market and strong support for the QNT price from here. This is the safety net we want to see, coming from usage! Indeed, in other words, if the QNT price went very high very quickly, Quant Treasury may not be seen buying much tokens since their reserves would be inflated BUT that fall back mechanics purely based on usage would be there to safeguard QNT holders from the QNT price falling below a certain level.
I would assume this makes sense for most, and you might now wonder why have I highlighted the bottom part about the token distribution in red? That is because there is an ongoing battle between the QNT community and Quant Treasury — and this is very interesting.
The ecosystem will show how big a share is the community willing to let Quant Network represent. The community actually sets the price for the purchases, and the token distribution fluctuates depending on the metrics we discussed. An equilibrium will be formed based on the confidence the market has in Quant Network’s future revenue generation. Moreover, the QNT community could perceive the token as a Store of Value and be happy to hold 80/90% of all tokens for instance, or it could perceive QNT as more dynamic or risky and be happy to only represent 60/70% of the distribution. Needless to say that, considering my previous articles on the potential of Overledger, I think we will tend more towards the former scenario. Indeed, if you wished to store wealth with a technology-agnostic, future proof, globally adopted, revenue-providing (through Gateways) Network of Networks on which most of the digitalised value is flowing through — wouldn’t you see QNT as an appealing value proposition?
In a nutshell, it all comes down to the Overledger revenue levels and the QNT holders’ resistence to buy pressure from Quant Treasury. Therefore, if you are confident in the Overledger revenue generation and wish to see the QNT token price go up, more than ever, do not sell your tokens!
What about the locked tokens? There will always be a certain amount of tokens that are entirely taken out of circulation, but Quant Network company will always keep additional unlocked tokens on top of that (those they receive and manage as buffer) and that means that locked tokens will always be a subset of what Quant Network possesses. I do not know whether fees will primarily be concentrated on the licencing side vs. the usage side, but if that were to be the case then it would be even better as a higher amount of tokens would be taken out of circulation for good.
Finally, as long as the company operates, the revenues will always represent a certain amount of money whereas this is not the case for profits which may not appear before years (e.g. during the first years, during an economic/business downturn, etc.). As an illustration, a company like Uber has seen vast increases in revenues since it launched but never made any profit! Therefore, the demand for the QNT token benefits from good resilience from that perspective.
Quant Network vs. QNT community — What proportion of the QNT distribution will each represent?

How much revenues can Overledger generate?

I suggest we start with the basis of what the Quant Network business is about: connecting networks together, building new-generation hyper-decentralised apps on top (called “mApps”), and creating network effects.
Network effects are best defined by Metcalfe’s law which states: “the effect of a telecommunications network is proportional to the square of the number of connected users of the system” (Source: Wikipedia). This is illustrated by the picture below, which demonstrates the increasing number of possible connections for each new user added to the network. This was also recently discussed in a YouTube podcast by QNT community members “Luke” and “Ghost of St. Miklos” which you can watch here.
Source: applicoinc.com
This means that, as Overledger continues to connect more and more DLTs of all types between themselves and also with legacy systems, the number of users (humans or machines) connected to this Network of Networks will grow substantially — and the number of possible connections between participants will in turn grow exponentially. This will increase the value of the network, and hence the level of fees associated with getting access to it. This forms the basis of expected, future revenue generation and especially in a context where Overledger remains unique as of today and embraced by many of the largest institutions in the world (see the detailed summary on the matter from community member “Seq” here).
On top of this network, multi-chain hyper-decentralised applications (‘mApps’) can be built — which are an upgrade to existing dApps that use only one chain at a time and hence only benefit from the user base and functionalities of the given chain. Overledger mApps can leverage on the users and abilities of all connected chains at the same time, horizontal scaling, the ability to write/move code in any language across chains as required, write smart contracts on blockchains that do not support them (e.g. Bitcoin), and provide easier connection to other systems. dApps have barely had any success so far, as discussed in my first article, but mApps could provide the market with the necessary tools to build applications that can complement or rival what can be found on the Apple or Google Play store.
Also, the flexibility of Overledger enables Quant Network to target a large number of industries and to connect them all together. A sample of use cases can be found in the following illustration:
https://preview.redd.it/th8edz5b84y31.png?width=2664&format=png&auto=webp&s=105dd4546f8f9ab2c66d1a5a8e9f669cef0e0614
It is to be noted that one of the use cases, namely the tokenisation of the entire world’s assets, represents a market worth hundreds of trillions of USD and that is not even including the huge amount of illiquid assets not currently traded on traditional Capital Markets which could benefit from the tokenisation process. More information on the topic can be found in my previous article fully focused on the potential of Overledger to capture value from the structural shift in the world’s assets and machine-related data/value transfers.
Finally, we can look at what well established companies with a similar technology profile have been able to achieve. Overledger is an Operating System for DLTs and legacy systems on top of which applications can be built. The comparison to Microsoft Windows and the suite of Microsoft Software running on top (e.g. Microsoft Office) is an obvious one from that perspective to gauge the longer term potential.
As you can see below, Microsoft’s flagship softwares such as Windows and Office each generate tens of billions of USD of revenues every year:
Source: Geekwire
We can also look at Oracle, the second largest Enterprise software company in the world:
Source: Statista
We can finally look at what the Apple store and the Google Play store generate, since the Quant Network “mApp store” for the community side of Overledger will look to replicate a similar business model with hyper-decentralised applications:
Source: Worldwide total revenue by app store, 2018 ($bn)
The above means total revenues of around USD 70bn in 2018 for the Apple store and Google Play store combined, and the market is getting bigger year-on-year! Also, again, these (indicative!) reference points for Overledger come in the context of the Community version of the system only, since the Enterprise version represents a separate set of verticals more comparable to the likes of Microsoft and Oracle which we just looked at.

Conclusion

I hope this article helped shed further light on the QNT token and how the various market and business parameters will influence its behavior over time, as the Quant Network business is expected to grow exponentially in the coming years.
In the recent Forbes interview, Quant Network’s CEO (Gilbert Verdian) stated : “Our potential to grow is uncapped as we change and transform industries by creating a secure layer between them at speed. Our vision is to build a mass version of what I call an internet of trust, where value can be securely transferred between global partners not relying on defunct internet security but rather that of blockchain.”.
This is highly encouraging with regards to business prospects and also in comparison to what other companies have been able to achieve since the Web as we know it today emerged (e.g. Microsoft, Google, Apple, etc.). The Internet is now entering a new phase, with DLT technology at its core, and Overledger is set to be at the forefront of this new paradigm which will surely offer a vast array of new opportunities across sectors.
I believe it is an exciting time for all of us to be part of the journey, as long as any financial commitment is made with a good sense of responsibility and understanding of what success comes down to. “Crypto” is still immature in many respects, and the emergence of a dedicated regulatory framework combined with the expected gradual, selective entrance of institutional money managers will hopefully help shed further light and protect retail token holders from the misunderstandings, misinformation and misconduct which too many have suffered from in the last years.
Thanks for your time and interest.
Appendix:
First article: “The reasons why Quant Network (QNT) will rise to the Top of the crypto sphere in the coming months”
Second article: “The potential of Quant Network’s technology to capture value from the structural shift in the World’s assets and machine-related data/value transfers”
October 2019 City AM interview of Gilbert Verdian (CEO): Click here
October 2019 Blockchain Brad interview of Gilbert Verdian (CEO): Click here
July 2019 Blockchain Brad interview of Gilbert Verdian (CEO): Click here
February 2019 Blockchain Brad interview of Gilbert Verdian (CEO): Click here
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About the original author of the article:
My name is David and I spent years in the Investment Banking industry in London. I hold QNT tokens and the above views are based on my own thoughts and research only. I am not affiliated with the Quant Network team in any way. This is not investment advice, please do your own research and understand what you are buying before doing so. It is also my belief that more than 90% of all other crypto projects will fail because what matters is what is getting adopted; please do not put more money at risk than you can afford to lose.
submitted by mr_sonic to CryptoCurrency [link] [comments]

Educate Yourself Before Using Robinhood

TL;DR: Robinhood is a great way to get into investing, but the market is volatile, even the professionals lose to pure randomness, and so will you. The time-tested strategy is boring, low-cost index funds like VOO that you hold until you die. And you should concentrate on tax-advantaged accounts like your 401K and IRA before any of that.
Edit: I don't mean this to come off as outrage, or imply that Roosterteeth shouldn't be advertising Robinhood. Robinhood is amazing, I personally have had some great success with it, and was even a little excited to see Roosterteeth advertising it. I have also seen plenty of people see its simplicity, assume that's all there is to investing, and make fatal mistakes, often by buying shit options, or assuming Robinhood Gold is free money. I just want to be a quick buffer between that.
I want to start this off by saying that I am in no way a financial expert. I'm an amateur investor who considers themselves reasonably well informed when it comes to finances and investments. I submit this as an introduction to educating yourself, and will list far more quality resources to learn from at the end.
My Concern
Roosterteeth, Funhaus, and other podcasts I listen to have recently been advertising for Robinhood as a simple way to get into investing, with the implication being that investing is what smart, responsible, rich people do, and you should too. But there's some stipulations to this, and I feel Robinhood and Roosterteeth are both a little flippant about the risks involved, especially when introducing large, inexperienced audiences to the investment world. That being said, investing is important to your long-term prosperity, and Robinhood is great with 0 fees, and its simplification of investments that typically sound far more complicated than they are. But it's important to identify your tolerance to risk, and use this to know what investments you're making, and exactly how risky they are. Below I want to give a basic overview of what exactly stocks and options are, how risky they are, and some general advice surrounding them.
What are Stocks?
When a company wants to raise money quickly, but doesn't want to take out loans, they typically decide to go public. This means they split the company up into shares of stock, each of which represents a small piece of the company. These shares each cost a certain amount of money to buy called their share price. At the time of writing, Apple (AAPL) stock is at $207.48, and there are currently 4,829,926,000 shares of Apple out there. Meaning that $207.48 will buy you 1 / 4,829,926,000 of Apple. This also means that Apple as a company is currently worth 4,829,926,000 * $207.48 = $1,002,113,000,000. This price is dictated largely by how confident people are in the future of the company. If a report comes out that Apple is doing really well, the stock price will likely go up, and vice versa.
What are Options?
Options are another security (security is a largely general term used for investments you can buy) that are not stocks themselves, but are contracts regarding what you can do with stocks. They're more complicated than just buying and selling stocks, and can be far more risky. There's a lot to them, but the basic idea is that you are buying the option to buy or sell a stock at a certain price, by a certain time. There are two basic types of options, put and call options. A call option is where you believe that the stock price will go up, a put option is where you believe a stock price will go down. I'll leave Khan Academy to explain the specifics as they can do far better than I. The short and skinny of it being that options are more complicated, riskier, and you should take some serious caution before jumping into this space. Options are where I simultaneously love and hate Robinhood, as they make it very easy for people to understand them, but simultaneously make it far too easy for people who shouldn't be investing in them, to do so.
How Does Robinhood Fit Into This?
Robinhood is a brokerage, which is effectively a store through which you can buy stocks and options. There are tons of brokerages, some popular ones being Schwab, Fidelity, and TD Ameritrade. They all offer different services and products at different prices. The one point we'll focus on is commission fees. A commission fee is how much you are charged for the privilege of buying a stock or option, which is typically around $8 per trade. So if I bought 1 share of Apple for $200, it would usually cost me $208. Robinhood is unique in that it charges $0 per trade. It's also unique in that it's primarily a simple mobile app, while other brokerages are far more complicated.
Robinhood Gold
My immediate advice, do not touch this. My main criticism with Robinhood is not really explaining what this is. It is a loan that you are effectively gambling with. If you are a professional (which means you've gone to school, and gotten a job doing this stuff, not that you've made $1000 on lucky trades) this can be useful. But even the pros get absolutely wrecked by using this kind of stuff, and I absolutely urge you to not touch this. Using Robinhood Gold (otherwise known as margin) in the investing world exposes you to far more risk.
Cool, How Do I Get Rich?
Slowly. There's tons of cases of people making it big with Bitcoin, some bullshit penny stock, or a lucky options trade that makes them millions in a matter of days. These are the exception, not the rule. Smart investing is typically a slow and boring process. Warren Buffett, the greatest investor of all time, espouses the idea of long-term investments in good companies. This has made him one of the richest people in the world, making him someone you want to listen to on the topic. His advice? Don't bother with Robinhood. Use your company's 401K to its fullest extent, and buy boring, stable ETFs. ETFs are a large collection of stocks that track the general direction of the stock market. Over 10, 20, 30 years, these consistently make money. They're not sexy, and won't make you rich in a few days, but will reliably make you comfortable far in the future. These are the responsible thing to do, and will ensure you spend retirement without a lot of stress. Check out /investing's wiki which has a lot of great info on this.
But I Want to be Rich Now!
You won't. Or rather, it's statistically unlikely that you will. The odds are better than if you were buying lottery tickets, but they still aren't great. If however, you've got a gambler's penchant, and are totally fine with losing 100% of your investment in a matter of hours, you can try actively trading options. Once you are done looking through /investing's wiki and have done the responsible thing, I authorize you to do the dumb shit and expose yourself to the whims of luck. A community attempting this path is /wallstreetbets, and they openly joke about how stupid they are for attempting this. They're extremely crass, and exhibit every symptom of a gambling addiction. If you decide to go down this route, you should absolutely only use money you are willing to lose. Treat it like a casino, where you know that eventually, you will absolutely lose all of that money. You're just paying for the hope that you won't.
Further Reading
There's plenty of resources out there, here's a collection of my favorites.
Through the Internet
At your Library
Never pay for investing clubs, or those YouTube channels that have hosts with ferraris telling you they can make you rich. You're buying them the ferraris, when you could have bought a book that will be far more valuable for a fraction of the price.
submitted by watchinggodbleed to roosterteeth [link] [comments]

Extracting the Private Key from a TREZOR with a 70 $ Oscilloscope

Extracting the Private Key from a TREZOR with a 70 $ Oscilloscope submitted by -johoe to TREZOR [link] [comments]

Educate Yourself Before Using Robinhood (X-Post RoosterTeeth)

TL;DR: Robinhood is a great way to get into investing, but the market is volatile, even the professionals lose to pure randomness, and so will you. The time-tested strategy is boring, low-cost index funds like VOO that you hold until you die. And you should concentrate on tax-advantaged accounts like your 401K and IRA before any of that.
Edit: I don't mean this to come off as outrage, or imply that Roosterteeth shouldn't be advertising Robinhood. Robinhood is amazing, I personally have had some great success with it, and was even a little excited to see Roosterteeth advertising it. I have also seen plenty of people see its simplicity, assume that's all there is to investing, and make fatal mistakes, often by buying shit options, or assuming Robinhood Gold is free money. I just want to be a quick buffer between that.
I want to start this off by saying that I am in no way a financial expert. I'm an amateur investor who considers themselves reasonably well informed when it comes to finances and investments. I submit this as an introduction to educating yourself, and will list far more quality resources to learn from at the end.
My Concern
Roosterteeth, Funhaus, and other podcasts I listen to have recently been advertising for Robinhood as a simple way to get into investing, with the implication being that investing is what smart, responsible, rich people do, and you should too. But there's some stipulations to this, and I feel Robinhood and Roosterteeth are both a little flippant about the risks involved, especially when introducing large, inexperienced audiences to the investment world. That being said, investing is important to your long-term prosperity, and Robinhood is great with 0 fees, and its simplification of investments that typically sound far more complicated than they are. But it's important to identify your tolerance to risk, and use this to know what investments you're making, and exactly how risky they are. Below I want to give a basic overview of what exactly stocks and options are, how risky they are, and some general advice surrounding them.
What are Stocks?
When a company wants to raise money quickly, but doesn't want to take out loans, they typically decide to go public. This means they split the company up into shares of stock, each of which represents a small piece of the company. These shares each cost a certain amount of money to buy called their share price. At the time of writing, Apple (AAPL) stock is at $207.48, and there are currently 4,829,926,000 shares of Apple out there. Meaning that $207.48 will buy you 1 / 4,829,926,000 of Apple. This also means that Apple as a company is currently worth 4,829,926,000 * $207.48 = $1,002,113,000,000. This price is dictated largely by how confident people are in the future of the company. If a report comes out that Apple is doing really well, the stock price will likely go up, and vice versa.
What are Options?
Options are another security (security is a largely general term used for investments you can buy) that are not stocks themselves, but are contracts regarding what you can do with stocks. They're more complicated than just buying and selling stocks, and can be far more risky. There's a lot to them, but the basic idea is that you are buying the option to buy or sell a stock at a certain price, by a certain time. There are two basic types of options, put and call options. A call option is where you believe that the stock price will go up, a put option is where you believe a stock price will go down. I'll leave Khan Academy to explain the specifics as they can do far better than I. The short and skinny of it being that options are more complicated, riskier, and you should take some serious caution before jumping into this space. Options are where I simultaneously love and hate Robinhood, as they make it very easy for people to understand them, but simultaneously make it far too easy for people who shouldn't be investing in them, to do so.
How Does Robinhood Fit Into This?
Robinhood is a brokerage, which is effectively a store through which you can buy stocks and options. There are tons of brokerages, some popular ones being Schwab, Fidelity, and TD Ameritrade. They all offer different services and products at different prices. The one point we'll focus on is commission fees. A commission fee is how much you are charged for the privilege of buying a stock or option, which is typically around $8 per trade. So if I bought 1 share of Apple for $200, it would usually cost me $208. Robinhood is unique in that it charges $0 per trade. It's also unique in that it's primarily a simple mobile app, while other brokerages are far more complicated.
Robinhood Gold
My immediate advice, do not touch this. My main criticism with Robinhood is not really explaining what this is. It is a loan that you are effectively gambling with. If you are a professional (which means you've gone to school, and gotten a job doing this stuff, not that you've made $1000 on lucky trades) this can be useful. But even the pros get absolutely wrecked by using this kind of stuff, and I absolutely urge you to not touch this. Using Robinhood Gold (otherwise known as margin) in the investing world exposes you to far more risk.
Cool, How Do I Get Rich?
Slowly. There's tons of cases of people making it big with Bitcoin, some bullshit penny stock, or a lucky options trade that makes them millions in a matter of days. These are the exception, not the rule. Smart investing is typically a slow and boring process. Warren Buffett, the greatest investor of all time, espouses the idea of long-term investments in good companies. This has made him one of the richest people in the world, making him someone you want to listen to on the topic. His advice? Don't bother with Robinhood. Use your company's 401K to its fullest extent, and buy boring, stable ETFs. ETFs are a large collection of stocks that track the general direction of the stock market. Over 10, 20, 30 years, these consistently make money. They're not sexy, and won't make you rich in a few days, but will reliably make you comfortable far in the future. These are the responsible thing to do, and will ensure you spend retirement without a lot of stress. Check out /investing's wiki which has a lot of great info on this.
But I Want to be Rich Now!
You won't. Or rather, it's statistically unlikely that you will. The odds are better than if you were buying lottery tickets, but they still aren't great. If however, you've got a gambler's penchant, and are totally fine with losing 100% of your investment in a matter of hours, you can try actively trading options. Once you are done looking through /investing's wiki and have done the responsible thing, I authorize you to do the dumb shit and expose yourself to the whims of luck. A community attempting this path is /wallstreetbets, and they openly joke about how stupid they are for attempting this. They're extremely crass, and exhibit every symptom of a gambling addiction. If you decide to go down this route, you should absolutely only use money you are willing to lose. Treat it like a casino, where you know that eventually, you will absolutely lose all of that money. You're just paying for the hope that you won't.
Further Reading
There's plenty of resources out there, here's a collection of my favorites.
Through the Internet
At your Library
Never pay for investing clubs, or those YouTube channels that have hosts with ferraris telling you they can make you rich. You're buying them the ferraris, when you could have bought a book that will be far more valuable for a fraction of the price.
submitted by watchinggodbleed to funhaus [link] [comments]

Useful Beginner's Guide to Syscoin

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!   Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.   With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!    

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.   Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.   Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.   The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.   The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.    

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.   What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.
View Team Page.    

Blockchain Foundry Products

BF Products    

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2    

Key Blockmarket Features

- Decentralized Marketplace

The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items  

- Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.  

- Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.  

- Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.  

- Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.    

Blockmarket Desktop – Quickstart Tutorials (16 short vids)

BM Desktop – Quickstart Tutorials    

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018.   This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency    

Primary Target Market + Value Potential

The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector.   To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.    

Key Syscoin Developments

- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST)

View Developer’s Twitter post View Syscoin’s Twitter post  

- Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.  

- Masternode Rewards + Min. Hardware Specs

Masternode Rewards + Min. Hardware Specs Masternode ROI Calculator  

- Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.  

- Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.  

- Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.  

- Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.    

Why Invest in Syscoin?

 

Merchants

Merchant Pilot Program    

Partnerships

Development Updates

White Paper

White Paper.pdf Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments    

Roadmap

Roadmap 2017-2018.png    

Blockchain Application Development Architecture

Blockchain Application Development Architecture.png    

Feature List 2017 & 2018

Feature List 2017 & 2018.jpg    

Where to Buy

BittrexPoloniexUpbitTux ExchangeLivecoinYobitAEXBittyliciousChangellyFlyp.me    

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/ • QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)    

Need Help or Want to Contribute?

If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel where the SYS team and community members are active, helpful and responsive.    

Credit To

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin    

Last Updated

This post was last updated on Feb 10 2018.    

Disclaimer

This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by idbrews to SysCoin [link] [comments]

SAPE Inc. wrote a quick review on Jibrel Network

Jibrel Network
Name:
According to Muslim belief, God revealed the Quran to the Islamic prophet Muhammad through the angel Ǧibrīl - (Gabriel in English) This divine messenger was the emissary of God who connected the heavens to the terrestrial plane. In choosing the name Jibrel, the project leaders aim to be the bridging point between the earth, i.e contemporary traditional finance, and the heavens: finance of the future conducted on the blockchain.
Team:
-Talal Tabbaa(Co-founder, Business Development Leader): Is a part part of the founding team having graduated as an industrial engineer from Purdue university. His professional career prior to Jibrel involves financial advisory with Price Waterhouse Cooper and managing a private Saudi investment fund for a member of the royal family (~3 Bn AUM).
-Yazan Barghutti(Co-founder, Project Lead): Yazan is a UCL chemical engineer whose previous roles centred around management consultancy and data science spheres within the Oliver Wyman and Deloitte organisations. He has advised assets of over 1 trillion $ and has extensive experience in capital and financial markets in the US and GCC. He has extensive experience in capital and finance markets within the USA and GCC, managing assets over 1 trillion dollars in total.
-Victor Mezrin(Co-founder, CTO): Victor graduated with a masters Degree in physics from Moscow State University, and is a veteran in the crypto field having run one of the top 3 mining pools (pool.mn). He has over 10 years technical experience along with proficiency in C++,C, Python, Java, C#, PHP, JavaScript and solidity programming languages.
-Hamzeh Kolaghassi(Operations Lead): Hamzeh graduated from Marymount University and started working in the financial field as a financial advisor and investment manager in 2011.
-Nick Marinin: (UX/UI dev)

-Aleksey Selikhov Developer (Back-end)

-Ivan Violentov Developer (Front-end)

-Nikita Shchipanov (Web Analyst)

-Rust Khusyainov (Illustrator)

-Aleksey Smirnov (DevOps Engineer)

-Yuriy Homyakov Developer (Back-end)

-Nikita Shchipanov (Web Analyst)

-Anna Bordunova (Public Relations)

Further recruitment was confirmed in May 2018.
Advisors: -Don Tapscott: This legendary investor, business manager and author has become a big name in the blockchain scene in recent years, being best known for his consulting position on the ICON project and his bestselling book, The Blockchain Revolution. Tapscott’s authship is by no means limited to cryptocurrency and his book Wikinomics was a bestseller on the business book charts. -Moe Levin: Levin is also an all-star of the crypto scene. Since 2013 he organizes conferences for all industry representatives. His keynote conferences are among the most influential in the industry and he hold advisory positions on many promising projects. -Abbaz Zuaiter, Zuaiter was Chief Operating Officer of Soros Fund Management between 2002 and 2013. -Ruslan Gavrilyuk (CryptoFinance Advisor CEO & Founder of TaaS Fund) -Saul Hudson (Communications Advisor, GM at Thomson Reuters) -Mohammad Al Sehli (MENA Advisor, CEO & Founder of Arabian Chain)
If one was to compare the panel of advisors for each and every project in cryptocurrency, The Jibrel Network’s board of advisors would certainly be within the top 1 percentile. They have struck the right balance in their blend of experts within blockchain and within he world of conventional finance, so that the project is connected to every area of business and finance it needs to be in order to develop the vision of the founders. A perfect example of this is Don Tapscott’s presentation to Bank of England in March 2018 where he extolled the virtues of cryptocurrency and blockchain technology.
ICO: The ICO ran from 27/11/2017, to 27/12/2017, ending weeks before it was supposed to, and saw all 155 million ERC-20 JNT tokens sold at a price fixed at 0.25 USD. Both Bitcoin and Ethereum were accepted during the token sale in addition to fiat contributions facilitated by Bitcoin Suisse AG. The revenues in Bitcoin and Ethereum were sold immediately after the ICO (at $ 300 an ether and $ 4500 for a bitcoin) to avoid speculation with investors' funds. The remaining 45 million JNTs that have been withheld are paid out to the team after 3-5 years. The extreme length of the token locking period for team members shows the huge amount of confidence that the project leaders have in this project.
Vision:
In order to understand the vision of Jibrel in more detail, one must look at the state of the contemporary financial system. On the one hand, we have classic investment products such as bonds, gold, real estate, company shares and Fiat. Let's take a look at how transactions involving traditional assets will operate. Currently, we have a concentration of power where individual financial intermediaries clear the transactions for high fees. In addition, 2 billion people worldwide have no access to traditional banking and therefore rely on service providers MoneyGram or Western Union for international remittances.
The fees involved in transactions using Western Union for example can be exhorbitant and sometimes prohibitive. Other negative aspects of these kinds of service providers are the lengthy wait for transactions to clear and the effect of weekends and bank holidays on service operations. Through use of blockchain technology it is possible to avoid all of these negative aspects of current payment systems and transfer value in an extremely cheap safe and speedy manner, with possession of a mobile device being the only necessity within this new method of transacting.
However, the volatility risk is not to be understated. If we put ourselves in the position of a manual laborer from India who works in Dubai and earns just enough to send $ 100 a month to his family back home, we can better analyse the advantages and disadvantages of each form of transaction . For various reasons, be it regulations, the length of stay or simply because of the associated fees, the worker has no bank account with which he can transfer the money. The only way to send money free of volatility and without being tied to a bank account is to pay the approximate $10 processing fee to a service provider like Western Union, a fee which can mean 10-15% less cash sent home to relatives.. The cheaper and faster alternative would be to buy $100 worth of cryptocurrencies in Dubai and to make a simple blockchain transaction to send the corresponding value in rupees back to India. At first glance, this may seem like a more attractive alternative but drawbacks such as price volatility as well as tax and legal implications must be considered. The value of the cryptocurrency purchased may fluctuate by as much as 10% between purchase in Dubai and receipt in Indian and the resulting profit could be subject to capital gains tax.
Products:
The Jibrel Network’s range of products are aimed at tackling problems such as the scenario described above as well as many other inefficiencies and failings in the current financial system. The first and most significant of these the Crypto Depository Receipt (CryDR) builds on the existing depository receipt instrument in order to facilitate global transactions involving currencies or securities. The total volume of depository receipts issued in 2016 was $2.9 trillion which shows the potential magnitude of the endeavour the project founders are undertaking.
For example, Jibrel, in collaboration with central banks, will initially issue $USD, AED and KRW on the Ethereum Blockchain as so-called jCash tokens. Which can then be purchased in exchange for the JNT token. For our example, this means that the worker in Dubai buys the JNT token and then sends it to Jibrel. In return, he receives dirham tokens, so-called jAED in the same value. The tokens he receives remain stable in value regardless of market volatility, allowing them to be used as a potential means of payment weeks later, or to be converted back to fiat currency. Besides the peer-to-peer crypto-fiat JCash initiative, The Jibrel Network plans to tokenize a great many other financial instruments as CryDRs, such as bonds, gold, company shares and real estate. At present, there are many pilots on going between Jibrel and distinguished institutions that are in future make use of the technology. Jordan's Central Bank and the DFSA (Dubai's Financial Service Authority) are known to be taking part as in pilots we speak. Moreover, Talal confirmed at a conference that a central bank of one Europe nation is also piloting with Jibrel, however the name of the country has not been made public yet.
Use cases:
The issuance of shares by CryDR will be piloted usually in cooperation with a venture capital firm. In the future, cost-intensive IPOs of small companies can be replaced by the issuance of CryDRs, which can then be acquired with the JNT token. According to Jibrel founders, registering and trading real estate on the blockchain proves to be a difficult proposition. There are numerous bureaucratic obstacles that must be traversed and legislative progression to be made by the respective governmental entities of individual countries before the trading of land or real estate is possible on the blockchain. Some countries are committed to the introduction of blockchain technologies on a wide scale which will run parallel to their current systems and eventually may replace them, which will allow the trade of real estate to flourish in future. The United Arab Emirates, for example, has announced that the country's primary goal is to largely replace the bureaucracy by 2020 with the use of blockchains.
Bigger picture:
It is important to clarify the economic implications associated with the issuance of assets on the blockchain. A small business IPO can cost up to 500000 USD and involve regulatory hurdles that prohibit the majority of small time investors from participating. Alternatively, it was possible for companies seeking funding to be funded by venture capital. Liquidity and access to risk capital has so far been limited due to the lack of an open and transparent risk capital market. The increased liquidity provided by blockchain technology enables company shares and real estate to be traded worldwide in the smallest of volumes, with an internet connection being the only prerequisite for inclusion in the system. Extensive new opportunities are now available to investors, startups and estate agents. For example, a construction project or a start-up can be financed by several thousand investors, who then count as legal owners of the property / start-up. In this innovative system entrepreneurs are less reliant on the capital provided by a few large investors, with the investor base expanded. Furthermore, the "smart regulation" of the tokens allows the automated cash flow between the creditors and debtors, so, for example, rent payments of the tenants can automatically be paid in the form of jcash to the owners. This phenomenon of global financial inclusion is why ICOs have become the most popular startup fundraising tool - now Jibrel will attempt to transfer the liquidity and egalitarian benefits of using a blockchain to the classic economy.
Token Economics:
In general, one has to ask the question in blockchain projects whether a separate token is necessary or whether the decentralization goal of the project makes sense The ultimate goal of Jibrel is to be a decentralized autonomous organization (DAO) that manages the operational business without human influence through smart contracts. The Jibrel founders use the story of Pinocchio as a metaphor for their future development. Currently Jibrel is still a wooden doll that needs a puppeteer, which in this case is still the team. As soon as all regulatory and technical preparations have been made, Jibrel, like Pinocchio, is freed from the strings of it’s puppeteers and acts autonomously. The founders hope that at the end of this process the first decentralized bank will have been born.
Now, the question arises as to why the Jibrel Network uses its own token to secure values ​​rather than using an established cryptocurrency. For one thing, Jibrel is not the typical project based on short-term hype cycles and wants to maintain the the most stringent levels of legal compliance possible. The commitment to legal compliance is an essential requirement for any company seeking to operate in the financial services industry and was the core reason for the company making Switzerland the country within which to base its operations. Switzerland is one of the few countries that make high demands on projects but also gives a clear regulatory framework within which to operate. These include commitment to KYC, AML and other legal guidelines that emphasize the trustworthiness of the project. The issuance of a separate token allows the Jibrel organisation to maintain an independent legal compliance record which would not be possible if Jibrel were to take Ethereum as a collateral in the conducting of its operations. If the Ether token was used in place of the Jibrel Network Token the whole Jibrel project would be at the mercy of the regulatory health of the Ethereum Project, over which it would have no control. Similarly the stability of the Jibrel Project would be subject to the extremely volatile cryptocurrency market’s valuation of the Ether token, which would be disastrous for investor confidence.
The solvency, and thus the disbursement ability of the organization is achieved by depositing the CryDR using its own JNT token. If you wish to tokenize an asset the Jibrel DAO removes the captured JNT from circulation, decreasing the amount of JNT in circulation and consequently increasing the value of all remaining circulating JNT. If an asset is liquidated the previously locked up JNT are brought back into the market. In order to increase the number of tokens owned by the organization, Jibrel will provide its own products and services that charge the fee in the form of the JNT Token. One of the most important of these products is the jWallet, a cryptocurrency wallet with a far superior user interface and performance of its competitors. The alpha of the jWallet was published before the ICO and the beta version is in development with an expected release date of around the end of Q2.
Probably the most interesting and urgently needed product in the field of infrastructure is the blockchain explorer jSearch, which allows the user to view transactions on all blockchains. Existing solutions such as etherscan.io or etherchain.org provide only rudimentary insight and an unsatisfactory user experience. For example, jSearch can be used as a tool to search, filter and bookmark already-issued assets. It is safe to infer rom all the information available that the Jibrel Network is a serious startup attempting to ensure long term solvency by exploring alternative sources of revenue. The resulting Jibrel ecosystem will eventually become in a sense an isolated market within which the performance of other cryptocurrencies plays no role.
challenges:
The implementation of such a paradigm shift will naturally see many hurdles and challenges present themselves. The project stands and falls with the speculative volatility of the market, which can act so irrationally that the buffers of the deposits are not sufficient to counteract the undervaluation and the solvency of the organization is no longer ensured. For example, Jibrel announced that the first product, jCash, will initially only be deposited off-chain due to market volatility, meaning that for the time being no deposit of JNT is required to issue Fiat. As soon as volatility on the market decreases and Jibrel has enough equity to compensate for any shortfalls, all CryDRs will need a JNT deposit as this is the only way to ensure full decentralization of the organization. However, mechanisms such as off-chain / on-chain arbitrage ensure that undervaluation of assets is prevented. In order to get the most realistic token value, Jibrel is currently developing its own blockchain to decouple itself from the Ethereum blockchain and the events on the market. The in-house blockchain jCore is currently under development. Details on the consensus algorithm and the release date will be announced.
Milestones:
-SEED backing/ Office
-Jordan
-JWallet
-EEA
-VQF
-DSFA in Dubai
-MAMA
submitted by Crillus to JibrelNetwork [link] [comments]

Bitcoin Segwit 2x Fork Speculations and Tin Foil Hat Theories.

https://steemit.com/bitcoin/@golden.parazyth/6tz1dz-bitcoin-segwit-2x-fork-speculations-and-tin-foil-hat-theories#
Bitcoin Segwit 2x Fork Speculations and Tin Foil Hat Theories.
This article summarises the current theories of what will happen after the Bitcoin Segwit 2x fork from the most likely and sensible outcomes to currently circulating conspiracy theories. Facts regarding the coming fork (somewhere around the 16th of November) are nicely summarized by the tenmillionsterling , therefore they are not repeated in this article as this is a summary of potential ‘What will happen to the price and bitcoin?’ OPINIONS and by no means it’s a financial advice. For the readers who don’t know what is the coming fork, please follow this link. I would like to stress out one more time that this article is a collection of opinions based on facts, feelings, bias, and pure human idiocy so please use your own critical thinking in making life decisions.
https://steemitimages.com/DQmUQs6f2j8Ee9yuEaehtFyCeGndHGVnuvjN2K89nMof7GY/4140332263_6e88268e80_z.jpg
Terminology. Current Bitcoin (core) is called 1x or core. The updated/forked (Segwit2x)is referred as 2x or B2X. Alts – alternative crypto currencies also widely known as shitcoins. Double spending Replay protection
Theory number 1. No split occurs and life goes on. Probably the best outcome (not necessarily the most likely) is to avoid the blockchain split altogether. In this scenario all miners update the protocol to Segwit2x (or abandon 2x) and Bitcoin does not split. Therefore, the second chain does not occur and Segwit2x protocol gets successfully activated. As a result, there is only one Bitcoin (2X or 1X) and every exchange calls 2x (or 1X) as a Bitcoin, there is no network disruption, no double spending. In this scenario Bitcoin price should continue its uprising trend and altcoins would continue to be suppressed. The likelihood of every miner achieving consensus is moderate. Currently 83% of miners signal for 2x and 33.2 percent signal for 1x coin (reference). It is possible for no split to occur, although I think, there is going to be a split. Theory number 2. Bitcoin splits into 2 coins (1x and 2x). Bitcoin core developers are unlikely to give in and split occurs. Peter Todd (core developer) said Segwit2x is a fraud. As a result all hell breaks loose, a disaster, since there is no replay protection and no consensus of what will be called Bitcoin. Opinion alert! In my humble opinion this is the most likely scenario. First of all, there are no consensus among exchanges and various service providers of what is going to be Bitcoin and what is going to be called B2X as each company want to call Bitcoin with their own names. Table 1 shows summary of what each coin after split is being called, taking into the consideration that B2X will have the most hash.
Table 1
Table 1 shows the decision of crypto service providers regarding the naming of split coins. Bitcoin is going to be called a chain with the majority of hash power and only 1 coin listed. In case B2X is called Bitcoin, it is not clear how the original coin is going to be named. *Opinion alert! I think they name Bitcoin with the most hash power. References: 1) https://bitcoinmagazine.com/articles/b2x-or-not-b2x-how-exchanges-will-list-segwit2x-coin/ 2) http://nob2x.org/ 3) https://cointelegraph.com/news/xapo-on-segwit2x-we-might-not-treat-btc-chain-as-real-bitcoin 4) https://blog.bitpay.com/segwit2x/ 5) Peter Todd calling Segwit2x a fraud
As the table 1 indicates, there is no consensus of what is going to be Bitcoin, the lack of replay protection specifies that spending Bitcoin you will also spend the B2X and vice versa. It will cause madness. For example, if you spend Bitcoin to pay for the game on Steam which effectively will name B2X (Bitpay) as Bitcoin, your money may be lost or transferring BTC from one exchange to the other when the same name Bitcoin is used while indicating 2 different chains! On the other hand, a lot of miners may switch back to support the 1x chain (or they may not). Opinion alert!!! What does this mean and what to do? In this scenario until the consensus is reached (and it will be reached), price of 1x and 2x plummets, while money flows back to dirty, disgusting, filthy fiat and glorious alternative crypto currencies. All major alts should experience the price boom against the Bitcoin and depending how low the Bitcoin drops, possibly against the fiat. I think DASH, LTC, ETH, NEO will be the major gainers. I deliberately left BCH out of this. Depending to the miners support, original Bitcoin will become vulnerable to the double spending attack. High difficulty and low mining profitability may lead to the remaining miners to switch to the most profitable coin (BCH or B2X), in fact potentially exposing 1x and 2x chains to double spending attacks (probably unlikely scenario). All depends on how fast the emergency protocol is released to adjust the difficulty for the Bitcoin Core (1x) chain to avoid exodus of the miners. In case of the double spending attack 1X would loose all the confidence, generally would die. However, the emergency protocol may be released quickly, difficulty adjusted really fast and enough of miners will remain mining 1X to prevent any potential attacks. The uncertainty about the support for each chain (1x or 2x), lack of consensus of what is what, logically should cause the BTC price to drop. However, this is crypto, logic does not work all the time, why else bitconnect exist?
This leads us to the conspiracy. AND WE ALL LOVE CONSPIRACY, JET FUEL CANT MELT STEAL ! For the following theories please put your tin foil hats.
![tinfoilhat.gif](https://steemitimages.com/DQmVyacpCN4YrKHDt4KqBRyXk6We93hxcrK9uSTrurJXJnH/tinfoilhat.gif)
For readers that don’t have one here is the link why you should have one and how to make one.
Theory number 3. Destruction of Bitcoin and rise of B2X. Overtake by the bankers.
Split occurs and majority of the hash power supports B2X. The 1x chain becomes laggy and slow, and hence experience the dump by people and groups interested in killing core. The large sums of 1x gets dumped while B2X is being equivalently bought while cheap. All big holders (hedge funds, whales, bankers buy a large sums of B2X while the price is low) and increase the total Bitcoin stake (2X), rich get richer and now have the absolutely majority of the coins hence can do various price manipulations and steer the direction of the Bitcoin. This theory is provided by the poorbrokebastard. This article about Segwit2x and its threat. And here the most highly controlled Brokerage service Coinbase says that Bitcoin Core are the biggest threat.While Coinbase itself may freeze your account at any time due to any reason they want (bitcoin you own previously was used in a gambling or any other activity they don’t like), Coinbase is happy to hand all the customer info to the government at any time and yet still, they see volunteer developers as a threat.
**
Theory number 4. BCH becomes Bitcoin as Jihan Wu will take over the world!
**
![DCZY16tUMAAw7kc.jpg](https://steemitimages.com/DQmUPVk9G2RdYD7DYu59Jcx7NDzK1SFr5NmgqtcGMve2Ycz/DCZY16tUMAAw7kc.jpg)
The lack of reply protection and deliberate attack on 1x chain by the major hashing power would lead to the loss of confidence in 1x and 2x chains. Price would plummet of 1x and 2x coins, while at the same time BCH would be pumped leading to the miners and herd of people flocking to the BCH. Jihan Wu and Roger Ver with the power of lobbying persuade business to call BCH as Bitcoin. We need very thick hat to understand this! Bitcoin cannot be destroyed, however it can be changed. Hundreds of millions have been invested in Bitcoin mining operations. Hence Bitcoin will prevail, however it may be core,B2X or BCH. As noted by the tenmillionsterrling, it is possible for the BCH to overtake Bitcoin name in the case of 1x and 2x destruction. That does not mean that people will start using BCH over the much better alternative crypto currencies. I would like to add to the tenmillionsterrling comment, in support of the BCH take over. Jihan Wu and Bitmain is the major supplier of BTC miners, they only accept BCH as a payment option, and hence have enough power and influence to blackmail the community and stir the Bitcoin future to their own benefit. Jihan Wu is very smart and he rightly deserves applause for being the best in the mining business. I don’t believe in this theory at all and don’t want to support the BCH, although BCH may increase in price significantly.
Other theories will be added later as they appear. Please share and I will add them giving you credit.
Summary. OPINION ALERT.
The most likely scenario is that split occurs. Exchanges will disable BTC deposits and Withdrawals 24 hours before the fork and will enable only when its save. Various service providers such as Bitpay (that supports major businesses as Steam) will suspend the service. Therefore BTC price should drop as people will still need to perform transactions. Consequently, the transactions will be performed using altcoins. The biggest gainer is LTC as this coin is universally accepted by every exchange and is frequently used to transfer BTC from one exchange to the other due to smaller fees and shorter block generation time. However, second contender is DASH and several businesses already accept DASH over Bitcoin (BitCart – save on your amazon vouchers), or via the use ShapeShift integration as popular amazon discount provider states that DASH is the most popular altcoin used on the site. Which coin will prevail (1x or 2x) as Bitcoin, I don’t know, but tend to think it will be B2X as currently it has the majority hash supply. Secondly, the massive split in the hash power would lead to Bitcoin core being vulnerable to the double spend attack at any point and lead to the loss of confidence, hence disappearance. However, anything is possible and it all depends on the intentions of the participating groups. Are all the miners evil and mine what is the most profitable disregarding the technology? Have the core developers ditched the vision of Satoshi and are closed to the public opinion? Does Jihan Wu seek to replace Bitcoin with BCH? Do the bankers and governments want to control the Bitcoin or perhaps even destroy it? There are plenty of arguments for and against, while answer to each question directly correlates to the quality of foil used to make the hat.
But hey– money talks. As much as I would like to see the decentralization the trend is set not by the early and crazy libertarian adopters, but by the herd of newcomers, who don’t really care about escaping the system. How can unpaid volunteers (Bitcoin core) compete with billionaires such as Jihan Wu? Masses and Bankers seek stability which is in their opinion only achieved by the regulations and control. It is possible for B2X take over the core, also possible for Bitcoin Core (1x) to prevail and B2X being listed as an altcoin. The month after the fork (in case of the split) will be turbulent, and as I expressed earlier, its probably best to stay out of bitcoin and keep fiat or alts (again OPINION so you are free not to listen at all and do whatever the hell your heart desires).
NOTE: I generally don’t like the control and centralization, monopoly. Otherwise I would stick with the fiat and would lead the life of a slave, take a mortgage, and would demand Bitcoin to be banned or at least regulated by the government. Maybe also become a communist too or at least highly aggressive socialist and a vegan. If you are looking for the more serious predictions, please read these articles 1 2.
Disclaimer. I don’t own any LTC, well I do, but cant remember the password I set 4 years ago, and 200 LTCs are locked forever. Perhaps someone knows how I could reach into my consciousness and help remember it? Also, I don’t like BCH, I don’t use it, I hate it. I did my best to make this article entertaining and informing at the same time. The tinfoil hat theories, well you need a hat to understand them.For the more comprehensive theories you should read Jimmy Song and other highly influential people.
submitted by Golden_parazyth to CryptoCurrency [link] [comments]

IRC Log from Ravencoin Open Developer Meeting - Sept 21, 2018

[14:04] Topics for the chat today: 1. Bitcoin double spend bug. 2. Max reorg depth changes.
[14:04] I think that will take most of the hour. We'll then open it up for questions.
[14:05] == blondfrogs changed the topic of #ravencoin-dev to: Topics for the chat today: 1. Bitcoin double spend bug. 2. Max reorg depth changes.
[14:05] == wolfsokta changed the topic of #ravencoin-dev to: Bitcoin Bug/Max Reorg
[14:05] Hi! I'm Forest... Forest Gump, do you want a ravencoin?
[14:05] Hi all
[14:05] == blondfrogs changed the topic of #ravencoin-dev to: Topics for the chat today: 1. Bitcoin double spend bug. 2. Max reorg depth changes.
[14:05] Topic fight
[14:05] as far as i know the double spending bug could inflate the bitcoin supply right?
[14:05] like make more bitcoin that possible
[14:05] than
[14:06] is this correct?
[14:06] it's more that the danger is crashing all the nodes
[14:07] 1. Raven is also affected by the bitcoin bug. Which is what we want to discus.
[14:08] blondfrogs can you tell us what you're planning to address the bug?
[14:08] So, we have updated our codebase to have the bitcoin bug fix. This is going to be implemented in 2.0.4.1. We are currently making binaries and should have an annoucment by end of day today to the community. We are urging the community to update their wallets to 2.0.4.1
[14:09] ...
[14:10] BTC patched it though. Wouldnt the "same" patch work for RVN?
[14:10] Spot on!
[14:10] No, it would not since we forked a while back.
[14:10] Exactly. We patched it in the same way but we still need to get our wallets that contain the fix out so the community can upgrade
[14:10] is there a todo somewhere to add auto-update functionality to the wallet?
[14:11] So, we need to get the word out to get people to update.
[14:11] YES
[14:12] How does the patch affect future LN implementation?
[14:12] Any changes that were made to bitcoin to get LN to integrate would need to be merged into Raven.
[14:12] Any risks?
[14:13] Fair comment.
[14:13] We would love any developers that are interested in doing that work to jump in.
[14:13] The fix is just changing a 'false' to 'true' to tell the node to scan for dup tx in the block.
[14:14] So the auto update feature implementation is being discussed through OS stores, as a second option for wallet download ... @lsji07
[14:14] The comment in the Bitcoin code said it was slow to scan the transactions. So it will be a bit slower.
[14:14] slower is better than being vulnerable
[14:16] Agreed
[14:16] lets talk about the maxreorg depth, people in the discord have been asking "why isnt it lower" what do you guys think
[14:16] once we finish with the first one we will russk
[14:16] k
[14:16] no russk
[14:16] lol
[14:17] I saw it went back to 60.
[14:17] 2.0.4.1 will be built and uploaded today.
[14:18] Once the binaries are ready, Ill get it out to all of the social sites, exchanges, and pool operators
[14:18] We changed the voting date for 2.0.4.1
[14:19] So it will not interfere with 2.1 release.
[14:19] We would prefer that 2.0.4 and 2.0.4.1 assets do not activate as they're not 100% compatible with 2.1 assets.
[14:19] == Zaaaab [[email protected]/web/cgi-irc/kiwiirc.com/ip.174.211.21.7] has quit [Quit: http://www.kiwiirc.com/ - A hand crafted IRC client]
[14:20] We also need the communities help to get people to upgrade to 2.0.4.1
[14:20] The protocol layer for assets changed just a bit.
[14:20] Unique assets can be 31 chars instead of 30
[14:20] We saved a byte on asset creation by not encoding the IPFS length twide.
[14:20] We saved a byte on asset creation by not encoding the IPFS length twice.
[14:21] ipfs will be implemented natively later right?
[14:21] YEs
[14:21] I hope so.
[14:21] awesome
[14:21] So vulnerabilty patch first, then the asset layer. Same 31/10 date though for starting asset activation on 2.1
[14:21] It makes sense for us to integrate with IPFS when messaging is available.
[14:22] Yes lsji07
[14:22] Until then, the IPFS hashes will be embedded and we'll "pin" the files so they stay around.
[14:22] == HansSchmidt [[email protected]/web/cgi-irc/kiwiirc.com/ip.173.239.232.46] has joined #ravencoin-dev
[14:22] == Hans_Schmidt [[email protected]/web/cgi-irc/kiwiirc.com/ip.173.239.232.56] has left #ravencoin-dev []
[14:22] == corby_ [[email protected]/web/freenode/ip.207.135.150.17] has joined #ravencoin-dev
[14:23] do you guys have anyone working on RSK yet?
[14:23] hi
[14:23] sup
[14:23] Any other questions about 2.0.4.1?
[14:23] @russk Thats a great question for the open QA at the end :)
[14:23] K, let's cover the Max Re-Org depth changes.
[14:24] No, but it can be implemented with RVN the same way as Bitcoin - as a side chain.
[14:24] Tron posted an article that discusses the options that were discussed.
[14:24] https://medium.com/@tronblack/ravencoin-building-the-immune-system-23d077b65f71
[14:24] Hope you all had a chance to read through it.
[14:25] im still voting for the lake of fire method
[14:25] I think the lake of fire was my favorite too.
[14:25] Agreed
[14:25] I'm with ya russk
[14:25] I have sourced the lake part.
[14:25] We found a burning pit in Utah, but no lake.
[14:25] aw
[14:26] Must try harder.
[14:26] The code has moved to 60 blocks.
[14:26] The reason for 55 was to have "buffer"
[14:26] https://en.wikipedia.org/wiki/Darvaza_gas_crater
[14:26] I would love to hear thoughts about the solution being proposed.
[14:26] Buffer isn't needed if we get all the >= and the counts right.
[14:27] Or questions/suggestions.
[14:27] Exchanges don't go by time, but by confirmations. Confirmations are the block count, so if it can't re-org at 60, then 60 should be a safe level.
[14:27] Plus 60 is easier to explain to people than 55 because the timing is in line with bitcoin.
[14:27] It might be lower, but we opted for a more conservative number.
[14:27] The downside risk is a chain split on an honest/honest split.
[14:28] With years of data, we could look at all the chain splits and determine the probability of a long split.
[14:29] For instance, a network cable between China and the rest of the world is cut, and then comes back on line later.
[14:29] I think the code decision is sound. The only way a chain split would occur is splitting the hardware links around the world. Wartime scenario?
[14:29] say if 50% of nodes upgrade to the new maxreorg client and someone tries to reorg the chain there will be a big split right?
[14:30] Yes.
[14:30] == Raven-Fam|21005 [[email protected]/web/cgi-irc/kiwiirc.com/ip.65.23.49.44] has joined #ravencoin-dev
[14:30] Most exchanges today give access to bitcoin funds long before 6 confirmations, so you wouldn't expect exchanges to require 60 confirms either, correct?
[14:30] Although that risk exists primarily between now and early Nov. After that, we hope 90%+ will be on the asset aware software.
[14:31] which is why you all need to upgrade your wallets and vote for the correct chain and tell your friends.
[14:31] got it, 2.1 will be the actual client for the hardfork, correct?
[14:31] The exchanges are welcome to take on additional risk. The risk decreases as the hashpower goes up.
[14:31] 2.1 is the planned version number.
[14:32] also, say if i am still on 2.0.3-4 will i still be able to use assets after the hardfork?
[14:32] how incompatible are the clients
[14:32] At that point 2.0.3-4 clients would be on a different fork I believe.
[14:34] any node with version < 2.1 will fork when assets are active.
[14:34] Assets activate when 90% of the blocks are mined with 2.1+
[14:34] We'll work hard to ensure exchanges and pools have updated to 2.0.4.1 first and then to 2.1 when it's available.
[14:34] awesome
[14:35] But we want the community to help get the word out as well. Raven needs you!
[14:35] We need a raven with a US Army hat guy to get people to update.
[14:35] lol
[14:36] Ill ping Pathfinder and get him on it.
[14:36] Only you can help assure upgrades
[14:36] Any other questions/comments/suggestions on Max Re-Org?
[14:37] So just to be clear- the max reorg is included in 2.0.4.1 of not?
[14:37] No, it is not.
[14:37] Only the bitcoin bug fix is in 2.0.4.1
[14:38] Okay, open Q&A then!
[14:38] Russk go!
[14:38] lol
[14:39] when are you guys going to implement native bech32?
[14:39] Is there time to talk about asset_name token burning? There has been a proposal for RPC commands to let an asset_token owner burn them in order to clean out unwanted asset names and reduce UTXO. That appears to be easy and relatively uncontroversial.
[14:39] also anyone working on RSK yet
[14:40] Bech 32 was deprecated.
[14:40] Honestly don't know much about it.
[14:41] is the block size going to increase to 2mb when we fork?
[14:41] russk tell me more.
[14:41] I thought it was the new btc address format...
[14:41] it is
[14:41] it allows native segwit addresses
[14:41] https://github.com/bitcoin/bips/blob/mastebip-0173.mediawiki
[14:41] Ravencoin forked in the middle of implementation of segwit, it's planned to be added with Segwit.
[14:41] Raven is already 2mb
[14:41] really?
[14:42] i thought it was 1mb
[14:42] It's part of the vote coming up on Oct 31
[14:42] ah ok
[14:42] It's in there, but BIP9 has to activate first.
[14:42] Yes. We've also tested that it is possible to fill a 2MB block
[14:42] Or rather BIP9 voting will activate RIP2 which will increase the block size.
[14:43] https://i.imgflip.com/2igmj7.jpg
[14:43] do you guys have a timeframe of when segwit is being fully added?
[14:43] I want you. Nice one.
[14:44] and for when they have done it, you can use https://i.imgflip.com/2igmml.jpg
[14:44] lol
[14:44] Wow, we have a meme master in the community!
[14:44] @HansSchmidt any new code would be appreciated, if you have the ability to code the rpc called please submit an PR to the repo
[14:44] I can't even open Photoshop that fast
[14:45] We are talking about adding anti-spam features into the wallet.
[14:45] Basically, if somebody sends an asset to an address that has been already used it could be an unwanted asset.
[14:45] == vap0r-XMR [[email protected]/web/cgi-irc/kiwiirc.com/ip.67.255.25.134] has joined #ravencoin-dev
[14:46] One more meme from the master: ttps://i.imgflip.com/2igmtd.jpg
[14:46] https://i.imgflip.com/2igmtd.jpg
[14:46] == Raven-Fam|1781 [[email protected]/web/freenode/ip.181.215.110.161] has joined #ravencoin-dev
[14:46] Understood. I'll look at it, but I'm more python than C
[14:47] == SweetAndLow [~[email protected]] has joined #ravencoin-dev
[14:47] Perfect
[14:47] That would still be great Hans.
[14:47] im looking into implementing RSK
[14:48] @HansSchmidt You don't need C
[14:48] it doesnt look crazy hard, just some java stuff
[14:48] == Zaaaab [[email protected]/web/cgi-irc/kiwiirc.com/ip.174.211.21.7] has joined #ravencoin-dev
[14:48] c++
[14:48] more like c--
[14:49] == Raven-Fam|21005 [[email protected]/web/cgi-irc/kiwiirc.com/ip.65.23.49.44] has quit [Quit: http://www.kiwiirc.com/ - A hand crafted IRC client]
[14:49] when ravencoin client coded in assembly
[14:49] == Zaaaab [[email protected]/web/cgi-irc/kiwiirc.com/ip.174.211.21.7] has quit [Client Quit]
[14:49] I was referring to @blondfrog new RPCs
[14:49] == Zaaaab [[email protected]/web/cgi-irc/kiwiirc.com/ip.174.211.21.7] has joined #ravencoin-dev
[14:49] I'd like to help with RSK
[14:49] We would love you to help!
[14:50] if you know java you can probably do it @vap0r
[14:50] https://github.com/rsksmart
[14:50] fork rskj and bitcoinj
[14:50] Thanks
[14:51] RSK would be extremely useful for bond-like implementations
[14:51] assets would probably mess RSK up tho
[14:51] Im off now thanks for the hard work guys!
[14:52] It might be a fun merge for sure.
[14:52] Thanks for joining!
[14:52] == AlsoSushi [[email protected]/web/cgi-irc/kiwiirc.com/ip.185.220.101.33] has quit [Quit: http://www.kiwiirc.com/ - A hand crafted IRC client]
[14:52] the bitcoinj client doesnt look crazy hard to port over to ravencoin
[14:52] == lsji07 [~[email protected]] has quit [Quit: AndroIRC - Android IRC Client ( http://www.androirc.com )]
[14:52] you would just need to change the diff algo to DGW and make an x16r java implementation
[14:53] It shouldn't be too hard.
[14:53] Which channel can I disclose a vulnerability?
[14:53] is it the bitcoin double spend vulnerability?
[14:53] or something new
[14:53] DM Chatturga on discord.
[14:53] == dudeman [[email protected]/web/cgi-irc/kiwiirc.com/ip.65.23.49.44] has joined #ravencoin-dev
[14:53] No, on Testnet
[14:53] ahh ok yea dm chatturga
[14:54] Either way, you can send it to me and I can make surfe it gets where it needs to go.
[14:54] sure*
[14:54] Do you have a suggested fix?
[14:54] Not currently, need more time
[14:55] Just give Chatturga a ping, and we can talk about it
[14:55] Thank you vap0r!
[14:55] i am extremely curious to see what this vulnerability is
[14:55] Does not impact supply
[14:56] assets related?
[14:56] On second thought vap0r just share it here if you don't mind.
[14:56] this is testnet so its meant to be bug tested
[14:57] If it's a testnet only bug then please feel free to share.
[14:58] We're now on pins and needles vap0r.
[14:58] :)
[14:59] Any other questions while we wait?
[14:59] Or another meme? ;)
[15:00] Do you all like these open developer meetings?
[15:00] == Mixed [[email protected]/web/freenode/ip.50.1.102.108] has joined #ravencoin-dev
[15:00] yea they are nice
[15:00] no
[15:00] lol
[15:00] hahaha!!! to bad blondy
[15:00] if they were on discord it would be nicer
[15:01] == vap0r-XMR [[email protected]/web/cgi-irc/kiwiirc.com/ip.67.255.25.134] has quit [Quit: http://www.kiwiirc.com/ - A hand crafted IRC client]
[15:01] lol
[15:01] there he goes
[15:01] Vap0r left...
[15:01] +1 on Discord
[15:01] Is anyone using testnet6 yet? I built develop2 branch to get 2.0.6 to play with, but had to modify it back to testnet5 in order to be useful. Even on testnet5 there has been only one person sometimes cpu mining.
[15:01] Is anyone using testnet6 yet? I built develop2 branch to get 2.0.6 to play with, but had to modify it back to testnet5 in order to be useful. Even on testnet5 there has been only one person sometimes cpu mining.
[15:01] Is anyone using testnet6 yet? I built develop2 branch to get 2.0.6 to play with, but had to modify it back to testnet5 in order to be useful.
[15:01] We're setting up seed nodes for testnet6.
[15:02] Seed nodes are being updated.
[15:02] wierd echo...
[15:02] Love that you're pulling the code Hans!
[15:02] im not on testnetv6 yet, i could compile the binaries and then we could play around @hans
[15:02] We expect testnet6 consensus rules to be the final ones.
[15:03] when are we getting testnetv20?
[15:03] lol
[15:03] We're working on it russk
[15:03] cant wait
[15:04] how can I find the seed nodes? they're added into the code updates?
[15:04] == Spyder [[email protected]/web/freenode/ip.174.128.245.122] has quit [Quit: Page closed]
[15:04] We're done, thanks everybody.
[15:04] russk -- 14 mistakes from now.
[15:04] Roshii is done. :)
[15:04] Did I see a request for one more meme?
[15:04] https://i.imgflip.com/2igof3.jpg
[15:04] one last question, when moon?
[15:04] == Zaaaab [[email protected]/web/cgi-irc/kiwiirc.com/ip.174.211.21.7] has quit [Quit: http://www.kiwiirc.com/ - A hand crafted IRC client]
[15:05] lol @chatt
[15:05] == Mixed [[email protected]/web/freenode/ip.50.1.102.108] has quit [Ping timeout: 256 seconds]
[15:05] == Sat_Roshii [[email protected]y/web/freenode/ip.173.241.144.77] has quit [Quit: Page closed]
[15:05] Seed nodes are behind 3 DNS entries
[15:05] Thanks all. Tron out.
[15:05] == Tron_ [[email protected]/web/freenode/ip.173.241.144.77] has quit [Quit: Page closed]
[15:05] Peace
[15:06] == blondfrogs [[email protected]/web/freenode/ip.91.207.175.238] has quit [Quit: Page closed]
[15:06] == Raven-Fam|1781 [[email protected]/web/freenode/ip.181.215.110.161] has quit [Quit: Page closed]
[15:06] Peace
[15:06] == HansSchmidt [[email protected]/web/cgi-irc/kiwiirc.com/ip.173.239.232.46] has left #ravencoin-dev []
[15:06] 3 domains Ravencoin.org, Ravencoin.com, bitactivate.com
[15:06] 4 dns entries per domain so a total of 12 nodes.
[15:07] Alright, everybody left me. Thanks all for joining this week!
[15:07] I'll never let go, Wolf
[15:07] I think we'll try discord two weeks from now.
[15:07] good shit guys, keep up the good work
[15:08] Thank you all! We have the best community!
[15:08] And definitely the best Memes!
[15:08] == Zaaaab [[email protected]/web/cgi-irc/kiwiirc.com/ip.174.211.21.7] has joined #ravencoin-dev
[15:09] Have a great weekend.
submitted by Chatturga to Ravencoin [link] [comments]

Don't give /u/kenCode any of your money.

tl;dr: I'm a fiat bankster ISP shill who wants to stop you from revolutionizing the Internet.
kenCode has been advertising his 'ePlug' thing basically all over the place lately, both here and on various 'decentralization'-themed reddits. You shouldn't give him any of your money.
Why not? Well, first let's look at what he's claimed: he's going to create the first 'Blockchain Operating System'. What does that mean? That's the thing; he's not really clear on it. The whitepaper makes a bunch of vague promises like that adding 10% more processors will give you 10% more computing power (because Amdahl's law doesn't exist), but one of the things he does heavily imply is that hacking Factom Linux would require 'hacking the blockchain':
The intent of this page is to explain the Factom Linux part of the ePlug project, not go into all the details of how Blockchains work. Let’s just put it this way: If you can hack a Blockchain, I’m sure the NSA will hire you.
This is patently false. Heartbleed didn't require someone to break RSA or anything, it was a vulnerability in OpenSSL itself. Same for Shellshock and a good deal of other attacks; the cryptography itself can be entirely worked around. As a silly example, if I was running a process as root that let anybody connect remotely execute any command, my computer would get owned regardless of how many times I say the word 'blockchain'. There have been attacks against routers that relied on the router's web interface not having any XSRF protection, so just visiting an attacker-controlled page would cause your browser to send a request to the router resetting the password, at which point the attacker could connect to it and own you. Security isn't just about running the code you think you're running.
A BOS supports a single global file system visible from all authenticated nodes (ePlugs, mobile clients, pc’s, etc).
So... the entire filesystem is sharded across the network? What about temporary files? Is it going to spam the network every time it needs to write to a log file? What about procfs? Why would you need to put all your local configuration files 'on a blockchain'? See this thread, where he shows that he doesn't understand what a stack is and so has no business being anywhere near operating system design.
The convenience of having a single global name space is obvious
No... not really. If I can read other people's files then that's a massive security vulnerability, obviously. If I can't then why are they in my namespace?
Factom provides the ability to use the Blockchain as a verification and validation service to insure that every component of the BOS is tracked, tested, and installed correctly. Factom provides the ability to identify issues, and distribute secure updates.
This is the one part that isn't completely dumb. Signing updates is a good idea, and storing signatures someplace where timestamps can't be easily forged (i.e., a blockchain) is good so that if the signing material gets compromised you can still go back to a known good version, as long as you can establish some date where the signing material was still secure.
Moving on: in this pdf he claims that ePlugs will entirely replace ISPs. He fails to establish how ISPs wouldn't be able to use their massive fiber infrastructure to maintain dominant network positions, or how to cross large gaps such as, I don't know, an ocean.
There's also this post on /darknetplan which goes into the hardware issues (getting a wifi antenna powerful enough to reach your neighbor isn't easy, and 'smart home' sensors are a massive security issue). The money quote here is this:
Existing IoT devices have proven themselves to be even more hackable, they don't use any blockchain technology whatsoever
Yes. Because buffer overflows, XSRF, side-channel attacks, everything can be stopped if you click your heels and say 'I do believe in blockchains, I do, I do!'
And finally, there's this page alleging that he's been involved in several other scams targeting the 'survivalist' market, which was found by mrchaddavis. If you click that second link you'll see evidence it's the same person: both the scam page and Ken's project page mention Line9 LLC and tek9.asp.
(Why did I make this its own post? Partly because I've seen him advertise his 'ePlug' before, partly because I'm bored as hell, and partly for that sweet sweet self-post karma.)
submitted by MistakeNotDotDotDot to Bitcoin [link] [comments]

When the title is "The Federal Reserve is such a scam," and the link goes to YouTube, you know it's going to be good

The whole thread is a pile of rage-vomit inducing nonsense, but that's to be expected when it hits the badecon trifecta:
  1. Involves Bitcoin - Check!
  2. Talks about the Fed - Check!
  3. Links to YouTube - Check!
  4. Bonus: OP made the YouTube video in question
That said, I'm going to focus on just one post by the OP:
The problem is that printing more money steals from the savers and favors the lenders. It's immoral and it's straight up fraud, and makes it damn hard to save for retirement. The fresh money is not fairly distributed and tend to inflate the housing market. My understanding is that when interests go back up, the housing market(bubble) contracts, and the money is "released" and inflation runs wild.
Let's go through this line by line:
The problem is that printing more money steals from the savers and favors the lenders.
Inflation, which can be caused by printing money does reduce the real value of cash-under-the-mattress savings. In that sense, it does act as a penalty for those who would remove their savings from the economy. That is not the same as "stealing from savers." There are simple, no risk, inflation-beating ways to save such as investing in intermediate term treasuries or (in a tax-free account, e.g. a Roth IRA) TIPS. There are many ETFs that do this for a very small (e.g. <10bps) management fee to save you the trouble of re-investing the coupons. Furthermore, moderate inflation acts as a buffer against deflation with all the problems that carries. One could make a quite reasonable argument that, even viewed as a tax, controlled inflation is basically an insurance premium (i.e. pay 2% to avoid potential catastrophic issues down the line) that will be refunded (I am a big Fisher fan) if you just keep your money in the economy instead of hoarding it in a dragon pile under your mattress.
Now, let's address the part about favoring lenders. This is just plain silly. First, the expected rate of inflation is (or at least should be) built into the interest rate on a loan. Continuously compounded, the market rate on a loan should be approximately (expected rate of inflation) + (risk premium) + (minimum acceptable real return). Known steady inflation doesn't benefit anybody in the borrower-lender relationship; it's just a factor in determining the fair interest rate. Accelerating inflation on the other hand helps the borrower in fixed rate (and even adjustable rate) loans as it reduces the real burden of his debt.
Now, on to the next!
It's immoral and it's straight up fraud, and makes it damn hard to save for retirement.
If he was right about it's being theft, I'd agree that theft is immoral. However, that is not the case. I don't even know where fraud would come in here. Nobody guaranteed you that a dollar will always have constant purchasing power; you were not defrauded. Furthermore, there's nothing stopping you from being paid in an asset of your choice if should so desire. That is a matter between you and your employer. If you want inflation protection, ask to be paid in TIPS or barrels of oil or BTC or .
Please don't ask me to explain his assertion that steady inflation "makes it damn hard to save for retirement." Just invest your savings in a diversified portfolio of income (e.g. dividend or interest) generating assets and you'll do fine because, and I'm going to repeat myself because I can't emphasize this enough, expected inflation is factored in to the market price of assets. Other investors are semi-rational too. They worry about inflation too. And they too are going to consider their inflation expectations when they buy assets. This is why TIPS have a lower nominal yield than vanilla treasuries.
The only partial truth in his statements would be that inflation shocks hurt savers because that devaluation is not included in asset prices (tautologically). However, spiking (or plummeting) inflation mean the Fed is failing in its mandate. Should that happen, it wouldn't be a scam, it would be a failure, but fortunately we've had pretty steady inflation for a while now.
The fresh money is not fairly distributed and tend to inflate the housing market.
Sources? Inflation was not particularly high during the most recent housing bubble, nor was money being "printed" at a particularly rapid rate. In fact, money supply growth was, broadly speaking, decelerating from 2000-2005. But why let evidence get in the way of a good rant?
My understanding is that when interests go back up, the housing market(bubble) contracts, and the money is "released" and inflation runs wild.
There is so much going wrong here, I don't even know where to begin, so let's just go in order.
when interests go back up
Does he mean, "when the Fed allows interest rates to rise?" Because, if not, he's more or less positing a complete failure of the Federal Reserve's main tool. And if that is what he meant, then it's probably safe to say that the Federal Reserve would do this step-by-step to allow the market to adjust without causing a huge shock.
when interests go back up, the housing market(bubble) contracts
This is probably true. By increasing the total cost of a mortgage, higher interest rates should depress real estate prices. But wait!
and the money is "released" and inflation runs wild.
How does depressing values release money? It's like he thinks of asset bubbles like pimples: when you pop them stuff comes out (money in this case). That is not what happens; the value is just gone, you don't get your money back, and there is no flood of cash in the economy driving up prices. I mean think about this for a second (before we get to the actual data). He's asserting that a precipitous fall in prices should cause inflation. If that's not a contradiction, I don't know what is. Just to be thorough though, let's look at the CPI during that most recent housing bubble collapse. See the big drop? That's deflation (albeit rapidly corrected deflation), not inflation. What I really love here though is the suggestion that increasing interest rates causes inflation. Because, you know that's totally how Volcker pushed down inflation in the 80s: by dropping interest rates to zero, right? It amazes me how silly this is: higher interest rates provide a higher incentive for investment, thus reducing current consumption, which should in turn reduce prices (because there is less demand).
I feel like I should close with a good, stinging insult here, but after going though that thread again, I'm actually a little ashamed that I am, genetically speaking, 99.9% identical to these people, and I just don't want to think about it anymore; it's just too depressing.
submitted by ajmarks to badeconomics [link] [comments]

Tron v8.1.0 (2015-12-04) // Skip Adobe/Java/etc if they're not already installed; Add KB3112336 to telem removal; Enable telemetry removal on Server 2012 platforms

Background

Tron is a script that "fights for the User." Think of it like a technician-on-a-thumb-drive that does the majority of the tedious work involved in disinfecting and cleaning up a Windows system for you.
It is a collection of utilities designed to automate ~85-90% of the routine tasks a PC technician performs so that the time can be spent on more important things. It is built with heavy reliance on community input and updated regularly.
Bug reports, critiques and suggestions are welcome and will be responded to quickly. If you have issues with this release, post a top-level comment and myself or one of the mods will answer, typically in <12 hours.

Stages:

Prep > Tempclean > De-bloat > Disinfect > Repair > Patch > Optimize > Wrap-up | Manual stuff
Saves a log to C:\Logs\tron\tron.log (configurable).

Screenshots

Welcome Screen | Email Report | New version detected | Help screen | Config dump | Dry run | Pre-run System Restore checkpoint | Disclaimer

Changelog

(significant changes in bold; full changelog on Github)
v8.1.0 (2015-12-04)
tron:
  • * prep:verbose: Automatically expand the scrollback buffer to 9000 if VERBOSE (-v) flag is used. This way we don't lose any output
stage_1_tempclean:
  • * ccleaner: Add note explaining that CCleaner doesn't support verbose output if VERBOSE (-v) flag is used. Thanks to Forcen
  • * bleachbit: Improve Bleachbit support for VERBOSE (-v) flag, now display ALL Bleachbit output to console and log if -v is used. Thanks to forcen
  • - misc: Remove unnecessary window title reset after Tempfilecleanup
stage_4_repair:
  • + Add KB3112336 to list of Win7/8/8.1 updates to remove. Thanks to Lolor-arros
  • + Enable telemetry removal on Server 2012 platforms
  • ! Remove redundant DRY_RUN check in call to Win10 telemetry removal script
stage_5_patch:
  • * Only patch each program if it already exists on the system. Thanks to Tech604
misc:
  • * Fix some other minor bugs, including a bug in the logging system of the JRE installer sub-script

Download

  1. Primary method: Download a self-extracting .exe pack from one of the mirrors:
    Mirror HTTPS HTTP Location Host
    Official link link US-NY SGC-Hosting
    #1 link link DE bodkov
    #2 link link FR mxmod
    #3 link link US-NY danodemano
    #4 link link NZ iDanoo
    #5 link link US-GA TheCronus89
    #6 link --- BT Sync mirror Falkerz (HTTP mirror of the BT Sync repo)
  2. Secondary: Connect to the BT Sync repo to get fixes/updates immediately. Use one of the read-only keys to sync to that repo:
    Release: B3Y7W44YDGUGLHL47VRSMGBJEV4RON7IS
    Dev/alpha: BDCF7MUDXNIDEK2KQ6DHV5ALIGIWD257O
    Make sure the settings for your Sync folder look like this (or this on v1.3.x).
  3. Tertiary: Connect to the SyncThing repo (instructions) to get fixes/updates immediately. This method is still under testing and may not be as reliable as BT Sync.
  4. Quaternary : Source code
    All the code for Tron is available here on Github (Note: this doesn't include many of the utilities Tron relies on to function). If you want to view the code without downloading a ~500MB package, or want to contribute to the project, Github is a good place to do it.

Command-Line Support

Tron has full command-line support. All flags are optional, can be combined, and override their respective script default when used.
Usage: tron.bat [-a -c -d -dev -e -er -m -o -p -r -sa -sb -sd -se -sfr -sk -sm -sp -spr -srr -ss -str -sw -v -x] | [-h] Optional flags (can be combined): -a Automatic mode (no welcome screen or prompts; implies -e) -c Config dump (display current config. Can be used with other flags to see what WOULD happen, but script will never execute if this flag is used) -d Dry run (run through script without executing any jobs) -dev Override OS detection (allow running on unsupported Windows versions) -e Accept EULA (suppress display of disclaimer warning screen) -er Email a report when finished. Requires you to configure SwithMailSettings.xml -m Preserve OEM Metro apps (don't remove them) -np Skip the pause at the end of the script -o Power off after running (overrides -r) -p Preserve power settings (don't reset power settings to default) -r Reboot automatically (auto-reboot 30 seconds after completion) -sa Skip anti-virus scans (MBAM, KVRT, Sophos) -sb Skip de-bloat (OEM bloatware removal; implies -m) -sd Skip defrag (force Tron to ALWAYS skip Stage 5 defrag) -se Skip Event Log clearing -sfr Skip filesystem permissions reset (saves time if you're in a hurry) -sk Skip Kaspersky Virus Rescue Tool (KVRT) scan -sm Skip Malwarebytes Anti-Malware (MBAM) installation -sp Skip patches (do not patch 7-Zip, Java Runtime, Adobe Flash or Reader) -spr Skip page file settings reset (don't set to "Let Windows manage the page file") -srr Skip registry permissions reset (saves time if you're in a hurry) -ss Skip Sophos Anti-Virus (SAV) scan -str Skip Telemetry Removal (don't remove Windows user tracking, Win7 and up only) -sw Skip Windows Updates (do not attempt to run Windows Update) -v Verbose. Show as much output as possible. NOTE: Significantly slower! -x Self-destruct. Tron deletes itself after running and leaves logs intact Misc flags (must be used alone): -h Display this help text 

Integrity

\tron\integrity_verification\checksums.txt contains SHA-256 checksums for every file and is signed with my PGP key (0x07d1490f82a211a2; pubkey included). You can use this to verify package integrity.
Please suggest modifications and fixes; community input is helpful and appreciated.
Donations (bitcoin): 1CcijZp5wjE6PukU4xejKKqvicxnYkZKxS
Quiet Professionals
submitted by vocatus to TronScript [link] [comments]

SAPE Inc. wrote a quick rundown on Jibrel Network

Jibrel Network
Name:
According to Muslim belief, God revealed the Quran to the Islamic prophet Muhammad through the angel Ǧibrīl - (Gabriel in English) This divine messenger was the emissary of God who connected the heavens to the terrestrial plane. In choosing the name Jibrel, the project leaders aim to be the bridging point between the earth, i.e contemporary traditional finance, and the heavens: finance of the future conducted on the blockchain.
Team:
-Talal Tabbaa(Co-founder, Business Development Leader): Is a part part of the founding team having graduated as an industrial engineer from Purdue university. His professional career prior to Jibrel involves financial advisory with Price Waterhouse Cooper and managing a private Saudi investment fund for a member of the royal family (~3 Bn AUM).
-Yazan Barghutti(Co-founder, Project Lead): Yazan is a UCL chemical engineer whose previous roles centred around management consultancy and data science spheres within the Oliver Wyman and Deloitte organisations. He has advised assets of over 1 trillion $ and has extensive experience in capital and financial markets in the US and GCC. He has extensive experience in capital and finance markets within the USA and GCC, managing assets over 1 trillion dollars in total.
-Victor Mezrin(Co-founder, CTO): Victor graduated with a masters Degree in physics from Moscow State University, and is a veteran in the crypto field having run one of the top 3 mining pools (pool.mn). He has over 10 years technical experience along with proficiency in C++,C, Python, Java, C#, PHP, JavaScript and solidity programming languages.
-Hamzeh Kolaghassi(Operations Lead): Hamzeh graduated from Marymount University and started working in the financial field as a financial advisor and investment manager in 2011.
-Nick Marinin: (UX/UI dev)

-Aleksey Selikhov Developer (Back-end)

-Ivan Violentov Developer (Front-end)

-Nikita Shchipanov (Web Analyst)

-Rust Khusyainov (Illustrator)

-Aleksey Smirnov (DevOps Engineer)

-Yuriy Homyakov Developer (Back-end)

-Nikita Shchipanov (Web Analyst)

-Anna Bordunova (Public Relations)

Further recruitment was confirmed in May 2018.
Advisors: -Don Tapscott: This legendary investor, business manager and author has become a big name in the blockchain scene in recent years, being best known for his consulting position on the ICON project and his bestselling book, The Blockchain Revolution. Tapscott’s authship is by no means limited to cryptocurrency and his book Wikinomics was a bestseller on the business book charts. -Moe Levin: Levin is also an all-star of the crypto scene. Since 2013 he organizes conferences for all industry representatives. His keynote conferences are among the most influential in the industry and he hold advisory positions on many promising projects. -Abbaz Zuaiter, Zuaiter was Chief Operating Officer of Soros Fund Management between 2002 and 2013. -Ruslan Gavrilyuk (CryptoFinance Advisor CEO & Founder of TaaS Fund) -Saul Hudson (Communications Advisor, GM at Thomson Reuters) -Mohammad Al Sehli (MENA Advisor, CEO & Founder of Arabian Chain)
If one was to compare the panel of advisors for each and every project in cryptocurrency, The Jibrel Network’s board of advisors would certainly be within the top 1 percentile. They have struck the right balance in their blend of experts within blockchain and within he world of conventional finance, so that the project is connected to every area of business and finance it needs to be in order to develop the vision of the founders. A perfect example of this is Don Tapscott’s presentation to Bank of England in March 2018 where he extolled the virtues of cryptocurrency and blockchain technology.
ICO: The ICO ran from 27/11/2017, to 27/12/2017, ending weeks before it was supposed to, and saw all 155 million ERC-20 JNT tokens sold at a price fixed at 0.25 USD. Both Bitcoin and Ethereum were accepted during the token sale in addition to fiat contributions facilitated by Bitcoin Suisse AG. The revenues in Bitcoin and Ethereum were sold immediately after the ICO (at $ 300 an ether and $ 4500 for a bitcoin) to avoid speculation with investors' funds. The remaining 45 million JNTs that have been withheld are paid out to the team after 3-5 years. The extreme length of the token locking period for team members shows the huge amount of confidence that the project leaders have in this project.
Vision:
In order to understand the vision of Jibrel in more detail, one must look at the state of the contemporary financial system. On the one hand, we have classic investment products such as bonds, gold, real estate, company shares and Fiat. Let's take a look at how transactions involving traditional assets will operate. Currently, we have a concentration of power where individual financial intermediaries clear the transactions for high fees. In addition, 2 billion people worldwide have no access to traditional banking and therefore rely on service providers MoneyGram or Western Union for international remittances.
The fees involved in transactions using Western Union for example can be exhorbitant and sometimes prohibitive. Other negative aspects of these kinds of service providers are the lengthy wait for transactions to clear and the effect of weekends and bank holidays on service operations. Through use of blockchain technology it is possible to avoid all of these negative aspects of current payment systems and transfer value in an extremely cheap safe and speedy manner, with possession of a mobile device being the only necessity within this new method of transacting.
However, the volatility risk is not to be understated. If we put ourselves in the position of a manual laborer from India who works in Dubai and earns just enough to send $ 100 a month to his family back home, we can better analyse the advantages and disadvantages of each form of transaction . For various reasons, be it regulations, the length of stay or simply because of the associated fees, the worker has no bank account with which he can transfer the money. The only way to send money free of volatility and without being tied to a bank account is to pay the approximate $10 processing fee to a service provider like Western Union, a fee which can mean 10-15% less cash sent home to relatives.. The cheaper and faster alternative would be to buy $100 worth of cryptocurrencies in Dubai and to make a simple blockchain transaction to send the corresponding value in rupees back to India. At first glance, this may seem like a more attractive alternative but drawbacks such as price volatility as well as tax and legal implications must be considered. The value of the cryptocurrency purchased may fluctuate by as much as 10% between purchase in Dubai and receipt in Indian and the resulting profit could be subject to capital gains tax.
Products:
The Jibrel Network’s range of products are aimed at tackling problems such as the scenario described above as well as many other inefficiencies and failings in the current financial system. The first and most significant of these the Crypto Depository Receipt (CryDR) builds on the existing depository receipt instrument in order to facilitate global transactions involving currencies or securities. The total volume of depository receipts issued in 2016 was $2.9 trillion which shows the potential magnitude of the endeavour the project founders are undertaking.
For example, Jibrel, in collaboration with central banks, will initially issue $USD, AED and KRW on the Ethereum Blockchain as so-called jCash tokens. Which can then be purchased in exchange for the JNT token. For our example, this means that the worker in Dubai buys the JNT token and then sends it to Jibrel. In return, he receives dirham tokens, so-called jAED in the same value. The tokens he receives remain stable in value regardless of market volatility, allowing them to be used as a potential means of payment weeks later, or to be converted back to fiat currency. Besides the peer-to-peer crypto-fiat JCash initiative, The Jibrel Network plans to tokenize a great many other financial instruments as CryDRs, such as bonds, gold, company shares and real estate. At present, there are many pilots on going between Jibrel and distinguished institutions that are in future make use of the technology. Jordan's Central Bank and the DFSA (Dubai's Financial Service Authority) are known to be taking part as in pilots we speak. Moreover, Talal confirmed at a conference that a central bank of one Europe nation is also piloting with Jibrel, however the name of the country has not been made public yet.
Use cases:
The issuance of shares by CryDR will be piloted usually in cooperation with a venture capital firm. In the future, cost-intensive IPOs of small companies can be replaced by the issuance of CryDRs, which can then be acquired with the JNT token. According to Jibrel founders, registering and trading real estate on the blockchain proves to be a difficult proposition. There are numerous bureaucratic obstacles that must be traversed and legislative progression to be made by the respective governmental entities of individual countries before the trading of land or real estate is possible on the blockchain. Some countries are committed to the introduction of blockchain technologies on a wide scale which will run parallel to their current systems and eventually may replace them, which will allow the trade of real estate to flourish in future. The United Arab Emirates, for example, has announced that the country's primary goal is to largely replace the bureaucracy by 2020 with the use of blockchains.
Bigger picture:
It is important to clarify the economic implications associated with the issuance of assets on the blockchain. A small business IPO can cost up to 500000 USD and involve regulatory hurdles that prohibit the majority of small time investors from participating. Alternatively, it was possible for companies seeking funding to be funded by venture capital. Liquidity and access to risk capital has so far been limited due to the lack of an open and transparent risk capital market. The increased liquidity provided by blockchain technology enables company shares and real estate to be traded worldwide in the smallest of volumes, with an internet connection being the only prerequisite for inclusion in the system. Extensive new opportunities are now available to investors, startups and estate agents. For example, a construction project or a start-up can be financed by several thousand investors, who then count as legal owners of the property / start-up. In this innovative system entrepreneurs are less reliant on the capital provided by a few large investors, with the investor base expanded. Furthermore, the "smart regulation" of the tokens allows the automated cash flow between the creditors and debtors, so, for example, rent payments of the tenants can automatically be paid in the form of jcash to the owners. This phenomenon of global financial inclusion is why ICOs have become the most popular startup fundraising tool - now Jibrel will attempt to transfer the liquidity and egalitarian benefits of using a blockchain to the classic economy.
Token Economics:
In general, one has to ask the question in blockchain projects whether a separate token is necessary or whether the decentralization goal of the project makes sense The ultimate goal of Jibrel is to be a decentralized autonomous organization (DAO) that manages the operational business without human influence through smart contracts. The Jibrel founders use the story of Pinocchio as a metaphor for their future development. Currently Jibrel is still a wooden doll that needs a puppeteer, which in this case is still the team. As soon as all regulatory and technical preparations have been made, Jibrel, like Pinocchio, is freed from the strings of it’s puppeteers and acts autonomously. The founders hope that at the end of this process the first decentralized bank will have been born.
Now, the question arises as to why the Jibrel Network uses its own token to secure values ​​rather than using an established cryptocurrency. For one thing, Jibrel is not the typical project based on short-term hype cycles and wants to maintain the the most stringent levels of legal compliance possible. The commitment to legal compliance is an essential requirement for any company seeking to operate in the financial services industry and was the core reason for the company making Switzerland the country within which to base its operations. Switzerland is one of the few countries that make high demands on projects but also gives a clear regulatory framework within which to operate. These include commitment to KYC, AML and other legal guidelines that emphasize the trustworthiness of the project. The issuance of a separate token allows the Jibrel organisation to maintain an independent legal compliance record which would not be possible if Jibrel were to take Ethereum as a collateral in the conducting of its operations. If the Ether token was used in place of the Jibrel Network Token the whole Jibrel project would be at the mercy of the regulatory health of the Ethereum Project, over which it would have no control. Similarly the stability of the Jibrel Project would be subject to the extremely volatile cryptocurrency market’s valuation of the Ether token, which would be disastrous for investor confidence.
The solvency, and thus the disbursement ability of the organization is achieved by depositing the CryDR using its own JNT token. If you wish to tokenize an asset the Jibrel DAO removes the captured JNT from circulation, decreasing the amount of JNT in circulation and consequently increasing the value of all remaining circulating JNT. If an asset is liquidated the previously locked up JNT are brought back into the market. In order to increase the number of tokens owned by the organization, Jibrel will provide its own products and services that charge the fee in the form of the JNT Token. One of the most important of these products is the jWallet, a cryptocurrency wallet with a far superior user interface and performance of its competitors. The alpha of the jWallet was published before the ICO and the beta version is in development with an expected release date of around the end of Q2.
Probably the most interesting and urgently needed product in the field of infrastructure is the blockchain explorer jSearch, which allows the user to view transactions on all blockchains. Existing solutions such as etherscan.io or etherchain.org provide only rudimentary insight and an unsatisfactory user experience. For example, jSearch can be used as a tool to search, filter and bookmark already-issued assets. It is safe to infer rom all the information available that the Jibrel Network is a serious startup attempting to ensure long term solvency by exploring alternative sources of revenue. The resulting Jibrel ecosystem will eventually become in a sense an isolated market within which the performance of other cryptocurrencies plays no role.
challenges:
The implementation of such a paradigm shift will naturally see many hurdles and challenges present themselves. The project stands and falls with the speculative volatility of the market, which can act so irrationally that the buffers of the deposits are not sufficient to counteract the undervaluation and the solvency of the organization is no longer ensured. For example, Jibrel announced that the first product, jCash, will initially only be deposited off-chain due to market volatility, meaning that for the time being no deposit of JNT is required to issue Fiat. As soon as volatility on the market decreases and Jibrel has enough equity to compensate for any shortfalls, all CryDRs will need a JNT deposit as this is the only way to ensure full decentralization of the organization. However, mechanisms such as off-chain / on-chain arbitrage ensure that undervaluation of assets is prevented. In order to get the most realistic token value, Jibrel is currently developing its own blockchain to decouple itself from the Ethereum blockchain and the events on the market. The in-house blockchain jCore is currently under development. Details on the consensus algorithm and the release date will be announced.
Milestones:
-SEED backing/ Office
-Jordan
-JWallet
-EEA
-VQF
-DSFA in Dubai
-MAMA
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