ELI5 the SoftBank call-option market manipulation - Market ...

Bitcoin mentioned around Reddit: ELi5/AMA Cryptocurrency & Mining Thread /r/AMD_Stock

Bitcoin mentioned around Reddit: ELi5/AMA Cryptocurrency & Mining Thread /AMD_Stock submitted by BitcoinAllBot to BitcoinAll [link] [comments]

25 Tools and Resources for Crypto Investors: Guide to how to create a winning strategy

Lots of people have PM'd me asking me the same questions on where to find information and how to put together their portfolio so I decided to put a guide for crypto investors, especially those who have only been in a few months and are still confused.
This is going to be Part 1 and will deal with research resources, risk and returns. In Part 2 I'll post a systematic approach to valuation and picking individual assets with derived price targets.

Getting started: Tools and resources

You don't have to be a programmer or techie to invest in crypto, but you should first learn the basics of how it functions. I find that this video by 3Blue1Brown is the best introduction to what a blockchain actually is and how it functions, because it explains it clearly and simply with visuals while not dumbing it down too much. If you want a more ELI5 version with cute cartoons, then Upfolio has a nice beginner's intro to the blockchain concept and quick descriptions of top 100 cryptocurrencies. I also recommend simply going to Wikipedia and reading the blockchain and cryptocurrency page and clicking onto a few links in, read about POS vs POW...etc. Later on you'll need this information to understand why a specific use case may or may not benefit from a blockchain structure. Here is a quick summary of the common terms you should know.
Next you should arm yourself with some informational resources. I compiled a convenient list of useful tools and sites that I've used and find to be worthy of bookmarking:
Market information
Analysis tools
Portfolio Tracking
Youtube
I generally don't follow much on Youtube because it's dominated by idiocy like Trevon James and CryptoNick, but there are some that I think are worthy of following:

Constructing a Investment Strategy

I can't stress enough how important it is to construct an actual investment strategy. Organize what your goals are, what your risk tolerance is and how you plan to construct a portfolio to achieve those goals rather than just chasing the flavor of the week.
Why? Because it will force you to slow down and make decisions based on rational thinking rather than emotion, and will also inevitably lead you to think long term.

Setting ROI targets

Bluntly put, a lot of young investors who are in crypto have really unrealistic expectations about returns and risk.
A lot of them have never invested in any other type of financial asset, and hence many seem to consider a 10% ROI in a month to be unexciting, even though that is roughly what they should be aiming for.
I see a ton of people now on this sub and on other sites making their decisions with the expectation to double their money every month. This has lead a worrying amount of newbies putting in way too much money way too quickly into anything on the front page of CoinMarketCap with a low dollar value per coin hoping that crypto get them out of their debt or a life of drudgery in a cubicle. And all in the next year or two!
But its important to temper your hype about returns and realize why we had this exponential growth in the last year. Its not because we are seeing any mass increase in adoption, if anything adoption among eCommerce sites is decreasing. The only reason we saw so much upward price action is because of fiat monetary base expansion from people FOMO-ing in due to media coverage of previous price action. People are hoping to ride the bubble and sell to a greater fool in a few months, it is classic Greater Fool Theory. That's it. We passed the $1,000 psychological marker again for Bitcoin which we hadn't seen since right before the Mt.Gox disaster, and it just snowballed the positivity as headline after headline came out about the price growth. However those unexciting returns of 10% a month are not only the norm, but much more healthy for an alternative investment class. Here are the annual returns for Bitcoin for the last few years:
Year BTC Return
2017 1,300%
2016 120%
2015 35%
2014 -60%
2013 5300%
2012 150 %
Keep in mind that a 10% monthly increase when compounded equals a 313% annual return, or over 3x your money. That may not sound exciting to those who entered recently and saw their money go 20x in a month on something like Tron before it crashed back down, but that 3X annual return is better than Bitcoin's return every year except the year right before the last market meltdown and 2017. I have been saying for a while now that we are due for a major correction and every investor now should be planning for that possibility through proper allocation and setting return expectations that are reasonable.

Risk Management

Quanitifying risk in crypto is surprisingly difficult because the historical returns aren't normally distributed, meaning that tools like Sharpe Ratio and other risk metrics can't really be used as intended. Instead you'll have to think of your own risk tolerance and qualitatively evaluate how risky each crypto is based on the team, the use case prospects, the amount of competition and the general market risk.
You can think of each crypto having a risk factor that is the summation of the general crypto market risk (Rm) as ultimately everything is tied to how Bitcoin does, but also its own inherent risk specific to its own goals (Ri).
Rt = Rm +Ri
The market risk is something you cannot avoid, if some China FUD comes out about regulations on Bitcoin then your investment in solid altcoin picks will go down too along with Bitcoin. This (Rm) return is essentially what risk you undertake to have a market ROI of 385% I talked about above. What you can minimize though is the Ri, the aset specific risks with the team, the likelihood they will actually deliver, the likelihood that their solution will be adopted. Unfortunately there is no one way to do this, you simply have to take the time to research and form your own opinion on how risky it really is before allocating a certain percentage to it. Consider the individual risk of each crypto and start looking for red flags:
  • guaranteed promises of large returns (protip: that's a Ponzi)
  • float allocations that give way too much to the founder
  • vague whitepapers
  • vague timelines
  • no clear use case
  • Github with no useful code and sparse activity
  • a team that is difficult to find information on or even worse anonymous
While all cryptocurrencies are a risky investments but generally you can break down cryptos into "low" risk core, medium risk speculative and high risk speculative
  • Low Risk Core - This is the exchange pairing cryptos and those that are well established. These are almost sure to be around in 5 years, and will recover after any bear market. Bitcoin, Litecoin and Ethereum are in this class of risk, and I would also argue Monero.
  • Medium Risk Speculative - These would be cryptos which generally have at least some product and are reasonably established, but higher risk than Core. Things like ZCash, Ripple, NEO..etc.
  • High Risk Speculative - This is anything created within the last few months, low caps, shillcoins, ICOs...etc. Most cryptos are in this category, most of them will be essentially worthless in 5 years.
How much risk should you take on? That depends on your own life situation but also it should be proportional to how much expertise you have in both financial analysis and technology. If you're a newbie who doesn't understand the tech and has no idea how to value assets, your risk tolerance should be lower than a programmer who understand the tech or a financial analyst who is experienced in valuation metrics.
Right now the trio of BTC-ETH-LTC account for 55% of the market cap, so between 50-70% of your portfolio in low Risk Core for newbies is a great starting point. Then you can go down to 25-30% as you gain confidence and experience. But always try to keep about 1/3rd in safe core positions. Don't go all in on speculative picks.
Core principles to minimize risk
  • Have the majority of your holdings in things you feel good holding for at least 2 years. Don't use the majority of your investment for day trading or short term investing.
  • Consider using dollar cost averaging to enter a position. This generally means investing a X amount over several periods, instead of at once. You can also use downward biased dollar cost averaging to mitigate against downward risk. For example instead of investing $1000 at once in a position at market price, you can buy $500 at the market price today then set several limit orders at slightly lower intervals (for example $250 at 5% lower than market price, $250 at 10% lower than market price). This way your average cost of acquisition will be lower if the crypto happens to decline over the short term.
  • Never chase a pump. Its simply too risky as its such an inefficient and unregulated market. If you continue to do it, most of your money losing decisions will be because you emotionally FOMO-ed into gambling on a symbol.
  • Invest what you can afford to lose. Don't have more than 5-10% of your net worth in crypto.
  • Consider what level of loss you can't accept in a position with a high risk factor, and use stop-limit orders to hedge against sudden crashes. Set you stop price at about 5-10% above your lowest limit. Stop-limit orders aren't perfect but they're better than having no hedging strategy for a risky microcap in case of some meltdown. Only you can determine what bags you are unwilling to hold.
  • Diversify across sectors and rebalance your allocations periodically. Keep about 1/3rd in low risk core holdings.
  • Have some fiat in reserve at a FDIC-insured exchange (ex. Gemini), and be ready to add to your winning positions on a pullback.
  • Remember you didn't actually make any money until you take some profits, so take do some profits when everyone else is at peak FOMO-ing bubble mode. You will also sleep much more comfortably once you take out the equivalent of your principal.

Portfolio Allocation

Along with thinking about your portfolio in terms of risk categories described above, I really find it helpful to think about the segments you are in. OnChainFX has some segment categorization to think about:
  • Currency
  • General Purpose Platform
  • Advertising
  • Crowdfunding Platform
  • Lending Platform
  • Privacy
  • Distributed Computing/Storage
  • Prediction Markets
  • IOT (Internet of Things)
  • Asset Management
  • Content Creation
  • Exchange Platform
I generally like to simplify these down to these 7 segments:
  • Core holdings - essentially the Low Risk Core segment
  • Platform segment
  • Privacy segment
  • Finance/Bank settlement segment
  • Enterprise Blockchain solutions segment
  • Promising/Innovative Tech segment
This is merely what I use, but I'm sure you can think of your own. The key point I have is to try to invest your medium and high risk picks in a segment you understand well, and in which you can relatively accurately judge risk. If you don't understand anything about how banking works or SWIFT or international settlement layers, don't invest in Stellar. If you have no idea how a supply chain functions, avoid investing in VeChain (even if it's being shilled to death on Reddit at the moment just like XRB was last month). Buffet calls this "circle of competence", he invests in sectors he understands and avoids those he doesn't like tech. I think doing the same thing in crypto is a wise move.
What's interesting is that often we see like-coin movement, for example when a coin from one segment pumps we will frequently see another similar coin in the same segment go up (think Stellar following after Ripple).
Consider the historic correlations between your holdings. Generally when Bitcoin pumps, altcoins dump but at what rate depends on the coin. When Bitcoin goes sideways we tend to see pumping in altcoins, while when Bitcoin goes down, everything goes down.
You should set price targets for each of your holdings, which is a whole separate discussion I'll go in Part 2 of the guide.

Summing it up

This was meant to get you think about what return targets you should set for your portfolio and how much risk you are willing to take and what strategies you can follow to mitigate that risk.
Returns around 385% (average crypto market CAGR over the last 3 years) would be a good target to aim for while remaining realistic, you can tweak it a bit based on your own risk tolerance. What category of risk your individual crypto picks should be will be determined by how much more greed you have for above average market return. A portfolio of 50% core holdings, 30% medium risk in a sector you understand well and 20% in high risk speculative is probably what the average portfolio should look like, with newbies going more towards 70% core and only 5% high risk speculative.
Just by thinking about these things you'll likely do better than most crypto investors, because most don't think about this stuff, to their own detriment.
submitted by arsonbunny to CryptoCurrency [link] [comments]

Crypto Investing Guide: Useful resources and tools, and how to create an investment strategy

Lots of people have PM'd me asking me the same questions on where to find information and how to put together their portfolio so I decided to put a guide for crypto investors, especially those who have only been in a few months and are still confused.
Many people entered recently at a time when the market was rewarding the very worst type of investment behavior. Unfortunately there aren't many guides and a lot of people end up looking at things like Twitter or the trending Youtube crypto videos, which is dominated by "How to make $1,00,000 by daytrading crypto" and influencers like CryptoNick.
So I'll try to put together a guide from what I've learned and some tips, on how to invest in this asset class. This is going to be Part 1, in another post later I'll post a systematic approach to valuation and picking individual assets.

Getting started: Tools and resources

You don't have to be a programmer or techie to invest in crypto, but you should first learn the basics of how it functions. I find that this video by 3Blue1Brown is the best introduction to what a blockchain actually is and how it functions, because it explains it clearly and simply with visuals while not dumbing it down too much. If you want a more ELI5 version with cute cartoons, then Upfolio has a nice beginner's intro to the blockchain concept and quick descriptions of top 100 cryptocurrencies. I also recommend simply going to Wikipedia and reading the blockchain and cryptocurrency page and clicking onto a few links in, read about POS vs POW...etc. Later on you'll need this information to understand why a specific use case may or may not benefit from a blockchain structure. Here is a quick summary of the common terms you should know.
Next you should arm yourself with some informational resources. I compiled a convenient list of useful tools and sites that I've used and find to be worthy of bookmarking:
Market information
Analysis tools
Portfolio Tracking
Youtube
I generally don't follow much on Youtube because it's dominated by idiocy like Trevon James and CryptoNick, but there are some that I think are worthy of following:

Constructing a Investment Strategy

I can't stress enough how important it is to construct an actual investment strategy. Organize what your goals are, what your risk tolerance is and how you plan to construct a portfolio to achieve those goals rather than just chasing the flavor of the week.
Why? Because it will force you to slow down and make decisions based on rational thinking rather than emotion, and will also inevitably lead you to think long term.

Setting ROI targets

Bluntly put, a lot of young investors who are in crypto have really unrealistic expectations about returns and risk.
A lot of them have never invested in any other type of financial asset, and hence many seem to consider a 10% ROI in a month to be unexciting, even though that is roughly what they should be aiming for.
I see a ton of people now on this sub and on other sites making their decisions with the expectation to double their money every month. This has lead a worrying amount of newbies putting in way too much money way too quickly into anything on the front page of CoinMarketCap with a low dollar value per coin hoping that crypto get them out of their debt or a life of drudgery in a cubicle. And all in the next year or two!
But its important to temper your hype about returns and realize why we had this exponential growth in the last year. The only reason we saw so much upward price action is because of fiat monetary base expansion from people FOMO-ing in due to media coverage. People are hoping to ride the bubble and sell to a greater fool in a few months, it is classic Greater Fool Theory. That's it. Its not because we are seeing any mass increase in adoption or actual widespread utility with cryptocurrency. We passed the $1,000 psychological marker again for Bitcoin which we hadn't seen since right before the Mt.Gox disaster, and it just snowballed the positivity as headline after headline came out about the price growth. However those unexciting returns of 10% a month are not only the norm, but much more healthy for an alternative investment class. Here are the annual returns for Bitcoin for the last few years:
Year BTC Return
2017 1,300%
2016 120%
2015 35%
2014 -60%
2013 5300%
2012 150 %
Keep in mind that a 10% monthly increase when compounded equals a 313% annual return, or over 3x your money. That may not sound exciting to those who entered recently and saw their money go 20x in a month on something like Tron before it crashed back down, but that 3X annual return is better than Bitcoin's return every year except the year right before the last market meltdown and 2017. I have been saying for a while now that we are due for a major correction and every investor now should be planning for that possibility through proper allocation and setting return expectations that are reasonable.
How to set a realistic ROI target
How do I set my own personal return target?
Basically I aim to achieve a portfolio return of roughly 385% annually (3.85X increase per year) or about 11.89% monthly return when compounded. How did I come up with that target? I base it on the average compounded annual growth return (CAGR) over the last 3 years on the entire market:
Year Total Crypto Market Cap
Jan 1, 2014: $10.73 billion
Jan 1, 2017: $615 billion
Compounded annual growth return (CAGR): (615/10.73)1/3 = 385%
My personal strategy is to sell my portfolio every December then buy back into the market at around the beginning of February and I intend to hold on average for 3 years, so this works for me but you may choose to do it a different way for your own reasons. I think this is a good average to aim for as a general guideline because it includes both the good years (2017) and the bad (2014). Once you have a target you can construct your risk profile (low risk vs. high risk category coins) in your portfolio. If you want to try for a higher CAGR than about 385% then you will likely need to go into more highly speculative picks. I can't tell you what return target you should set for yourself, but just make sure its not depended on you needing to achieve continual near vertical parabolic price action in small cap shillcoins because that isn't sustainable.
As the recent January dip showed while the core cryptos like Bitcoin and Ethereum would dip an X percentage, the altcoins would often drop double or triple that amount. Its a very fragile market, and the type of dumb behavior that people were engaging in that was profitable in a bull market (chasing pumps, going all in on a microcap shillcoin, having an attention span of a squirrel...etc) will lead to consequences. Just like they jumped on the crypto bandwagon without thinking about risk adjusted returns, they will just as quickly jump on whatever bandwagon will be used to blame for the deflation of the bubble, whether the blame is assigned to Wall Steet and Bitcoin futures or Asians or some government.
Nobody who pumped money into garbage without any use case or utility will accept that they themselves and their own unreasonable expectations for returns were the reason for the gross mispricing of most cryptocurrencies.

Risk Management

Quanitifying risk in crypto is surprisingly difficult because the historical returns aren't normally distributed, meaning that tools like Sharpe Ratio and other risk metrics can't really be used as intended. Instead you'll have to think of your own risk tolerance and qualitatively evaluate how risky each crypto is based on the team, the use case prospects, the amount of competition and the general market risk.
You can think of each crypto having a risk factor that is the summation of the general crypto market risk (Rm) as ultimately everything is tied to how Bitcoin does, but also its own inherent risk specific to its own goals (Ri).
Rt = Rm +Ri
The market risk is something you cannot avoid, if some China FUD comes out about regulations on Bitcoin then your investment in solid altcoin picks will go down too along with Bitcoin. This (Rm) return is essentially what risk you undertake to have a market ROI of 385% I talked about above. What you can minimize though is the Ri, the aset specific risks with the team, the likelihood they will actually deliver, the likelihood that their solution will be adopted. Unfortunately there is no one way to do this, you simply have to take the time to research and form your own opinion on how risky it really is before allocating a certain percentage to it. Consider the individual risk of each crypto and start looking for red flags:
  • guaranteed promises of large returns (protip: that's a Ponzi)
  • float allocations that give way too much to the founder
  • vague whitepapers
  • vague timelines
  • no clear use case
  • Github with no useful code and sparse activity
  • a team that is difficult to find information on or even worse anonymous
While all cryptocurrencies are a risky investments but generally you can break down cryptos into "low" risk core, medium risk speculative and high risk speculative
  • Low Risk Core - This is the exchange pairing cryptos and those that are well established. These are almost sure to be around in 5 years, and will recover after any bear market. Bitcoin, Litecoin and Ethereum are in this class of risk, and I would also argue Monero.
  • Medium Risk Speculative - These would be cryptos which generally have at least some product and are reasonably established, but higher risk than Core. Things like ZCash, Ripple, NEO..etc.
  • High Risk Speculative - This is anything created within the last few months, low caps, shillcoins, ICOs...etc. Most cryptos are in this category, most of them will be essentially worthless in 5 years.
How much risk should you take on? That depends on your own life situation but also it should be proportional to how much expertise you have in both financial analysis and technology. If you're a newbie who doesn't understand the tech and has no idea how to value assets, your risk tolerance should be lower than a programmer who understand the tech or a financial analyst who is experienced in valuation metrics.
Right now the trio of BTC-ETH-LTC account for 55% of the market cap, so between 50-70% of your portfolio in low Risk Core for newbies is a great starting point. Then you can go down to 25-30% as you gain confidence and experience. But always try to keep about 1/3rd in safe core positions. Don't go all in on speculative picks.
Core principles to minimize risk
  • Have the majority of your holdings in things you feel good holding for at least 2 years. Don't use the majority of your investment for day trading or short term investing.
  • Consider using dollar cost averaging to enter a position. This generally means investing a X amount over several periods, instead of at once. You can also use downward biased dollar cost averaging to mitigate against downward risk. For example instead of investing $1000 at once in a position at market price, you can buy $500 at the market price today then set several limit orders at slightly lower intervals (for example $250 at 5% lower than market price, $250 at 10% lower than market price). This way your average cost of acquisition will be lower if the crypto happens to decline over the short term.
  • Never chase a pump. Its simply too risky as its such an inefficient and unregulated market. If you continue to do it, most of your money losing decisions will be because you emotionally FOMO-ed into gambling on a symbol.
  • Invest what you can afford to lose. Don't have more than 5-10% of your net worth in crypto.
  • Consider what level of loss you can't accept in a position with a high risk factor, and use stop-limit orders to hedge against sudden crashes. Set you stop price at about 5-10% above your lowest limit. Stop-limit orders aren't perfect but they're better than having no hedging strategy for a risky microcap in case of some meltdown. Only you can determine what bags you are unwilling to hold.
  • Diversify across sectors and rebalance your allocations periodically. Keep about 1/3rd in low risk core holdings.
  • Have some fiat in reserve at a FDIC-insured exchange (ex. Gemini), and be ready to add to your winning positions on a pullback.
  • Remember you didn't actually make any money until you take some profits, so take do some profits when everyone else is at peak FOMO-ing bubble mode. You will also sleep much more comfortably once you take out the equivalent of your principal.

Portfolio Allocation

Along with thinking about your portfolio in terms of risk categories described above, I really find it helpful to think about the segments you are in. OnChainFX has some segment categorization but I generally like to bring it down to:
  • Core holdings - essentially the Low Risk Core segment
  • Platform segment
  • Privacy segment
  • Finance/Bank settlement segment
  • Enterprise Blockchain solutions segment
  • Promising/Innovative Tech segment
This is merely what I use, but I'm sure you can think of your own. The key point I have is to try to invest your medium and high risk picks in a segment you understand well, and in which you can relatively accurately judge risk. If you don't understand anything about how banking works or SWIFT or international settlement layers, don't invest in Stellar. If you have no idea how a supply chain functions, avoid investing in VeChain (even if it's being shilled to death on Reddit at the moment just like XRB was last month).
What's interesting is that often we see like-coin movement, for example when a coin from one segment pumps we will frequently see another similar coin in the same segment go up (think Stellar following after Ripple).
Consider the historic correlations between your holdings. Generally when Bitcoin pumps, altcoins dump but at what rate depends on the coin. When Bitcoin goes sideways we tend to see pumping in altcoins, while when Bitcoin goes down, everything goes down.
You should set price targets for each of your holdings, which is a whole separate discussion I'll go in Part 2 of the guide.

Summing it up

This was meant to get you think about what return targets you should set for your portfolio and how much risk you are willing to take and what strategies you can follow to mitigate that risk.
Returns around 385% (average crypto market CAGR over the last 3 years) would be a good target to aim for while remaining realistic, you can tweak it a bit based on your own risk tolerance. What category of risk your individual crypto picks should be will be determined by how much more greed you have for above average market return. A portfolio of 50% core holdings, 30% medium risk in a sector you understand well and 20% in high risk speculative is probably what the average portfolio should look like, with newbies going more towards 70% core and only 5% high risk speculative.
Just by thinking about these things you'll likely do better than most crypto investors, because most don't think about this stuff, to their own detriment.
submitted by arsonbunny to CryptoMarkets [link] [comments]

We are averaging 2,000 new subs daily.

We just celebrated the 350,000 mark 5 days ago and today we are over 360,000. Nice to see this sub and the Bitcoin community in general growing this big and this fast.
If you are one of those many just coming in, welcome! I'm sure you'll find this place very interesting, fun and informative. We are here to help you to better understand what Bitcoin is and and how it works, and for ourselves to keep learning. This is my welcome post for newbies:
When you come asking when is a good time to buy, the answer is: Buy now, always Hodl in FUD times (Bitcoin has "died" many times, but Moneybadger don't care, buy the dips and never panic-sell, stuff like: "China ban Bitcoin...again!" will keep happening again and again.
Here's Bitcoin's response to Jamie Dimon. Stick to the real Bitcoin through all the 'forks' and 'splits' that accomplish nothing but new mediocre, unsafe and centralized altcoins, strengthen/immunize Bitcoin and give you free altcoins to buy more Bitcoin.
All Central Powers look silly trying to control or ban it. Learn from history and listen to this absolute Boss. There will never be enough Bitcoin for every existing millionaire to own just ONE SINGLE BITCOIN, Total number of millionaires (in USD value) worldwide is around 33 million. Get one while you still can.
Also relax, you are actually an early adopter if you start investing today, mentally prepare yourself for healthy and expected market volatility/dips/corrections/"crashes" (check out this amazing 'Corrections Trends Perspective') and remember all this regarding Bitcoin investment:
Never try to time the market. Dollar cost average by buying what you can afford to lose every week.
It is always a good time to buy Bitcoin if you are hodling long term and not just for day trading, so this is a great strategy. Remember that Bitcoin has practically been up most of the time, and the road to the moon is paved with minor corrections (Bitcoin is never really "down" when you zoom-out).
Everybody parroting: "The bitcoin bubble is about to pop" since 2009, don't know that bitcoin is a decentralized system with mathematically fixed, deflatioary and limited supply currency and its growth is exponential.
So is not farfetched to say that it will be at 100,000 by 2020, since it came from less than $1 to $5,000 in less than 10 years, and it hasn't even hit the bottom part of the exponential 'S-Curve' of adoption. Check out this great 2017 MIT study: "The Cryptocurrency Market Is Growing Exponentially". Patience pays, don't listen to the "Expert Analysts on MSM".
Bitcoin is a Moneybadger that get's stronger and immunized with every new attack and this broad picture of its price since infancy (1 year candles on a logarithmic scale) shows Bitcoin growth is not in a "bubble" right now. Learn the difference between Inflation (dollar) and Deflation (Bitcoin) and just take a look at the fiat >20 trillion (and growing fast) debt clock to get a visual shock of unlimited fiat supply (vs limited Bitcoin/Gold supply).
Bitcoin has outperformed every other currency, commodity, stock and asset since its inception in 2009: "2017: Bitcoin Beats Stocks, Bonds, And Gold, Again”. Bitcoin, the Moneybadger, is the first unseizable store of value in human history, unlike gold, equities, or fiat, it can't be confiscated if stored correctly. How banks think blockchain will disrupt their industry.
Also, remember its fixed, limited supply of 21 million coins ever, there are just ~4.5 million (~20%) bitcoins left to be mined till 2140 and the production will keep decreasing ("halving") every 4 years till then. So, remember this and don't wait for the Bitcoin "bubble" to burst or for the price to drop significantly again, because you could be waiting forever:
“The best time to buy bitcoin was a few years ago, the second best time is always now”.
Don't be -- this guy
Here is a good start:
"Introduction to Bitcoin" - Andreas Antonopoulos
Playlists on Andreas own YT channel
Check out this great articles:
"What Gave Bitcoin Its Value?"
"How do Bitcoins have value?"
"Yes, Cryptocurrencies are Valuable"
ELI5: BITCOIN
How to buy Bitcoin?
Where to buy Bitcoin list
Excellent "Crypto 101" by stos313)
Where to use Bitcoin list by Bitcoin-Yoda
Starter Guide "Bitcoin Complete And Ultimate Guide".
Who accepts Bitcoin? List of Companies, Stores, Shops.
Bitcoin is a worldwide-distributed decentralized peer-to-peer censorship-resistant trustless and permissionless deflationary system/currency (see Blockchain technology) backed by mathematics, open source code, cryptography and the most powerful and secure decentralized computational network on the planet, orders of magnitude more powerful than google and government combined. There is a limit of 21 million bitcoins (divisible in smaller units). "Backed by Government" money is not backed by anything and is infinitely printed at will by Central Banks. Bitcoin is limited and decentralized.
Receive and transfer money, from cents (micropayments) to thousands:
And that’s just as currency, Bitcoin has many more uses and applications.
Edit: Fixed some non-working links and added new ones.
submitted by readish to Bitcoin [link] [comments]

[Saturday, March 23 2019] Over 1 million march in London for a second referendum; Tyrannosaurus rex found in Canada is world's biggest; Royal Navy officer caught on tape: “no such thing as mental health”; AT&T’s “5G E” is actually slower than Verizon and T-Mobile 4G, study finds

/worldnews

/news

/science

  • Thorne-ZytkowObject
    Scientists studied a "super-smeller" who claimed to smell Parkinson’s disease. In a test, she smelled patients clothes and flagged just one false positive - who turned out to be undiagnosed. The study identified subtle volatile compounds that may make it easier for machines to diagnose Parkinson's.
    Comments || Link
  • mvea
    Teens and young adults who seek solitude may know what's best for them, research suggests (n=979). Despite stigma, solitude doesn't have to be problematic. Chosen solitude may contribute to personal growth and self-acceptance, and lead to self-reflection, creative expression, or spiritual renewal.
    Comments || Link
  • MiamiPower
    Car crash ER visits fell in states that ban texting while driving, study says
    Comments || Link

/space

  • RocketRundown
    Slow-motion footage of a Space Shuttle launch set to the beautiful Hans Zimmer Interstellar music
    Comments || Link

/technology

/Futurology

  • Wagamaga
    Following Monsanto, Exxon Could Be Next US Corporation to Face EU Lobby Ban. "It is the overwhelming consensus of experts studying the history of fossil fuel funding that companies, including ExxonMobil, have orchestrated, funded and perpetuated climate misinformation"
    Comments || Link

/business

/stocks

  • coolcomfort123
    Video-conferencing company Zoom files to go public with over $300 million in revenue — and it's even profitable
    Comments

/AskHistorians

  • bodombeachbod
    What's the history of iced coffee in the United States? A 1959 episode of the Twilight Zone caught me off guard when an "Iced Coffee" sign appeared behind the clerk.
    Comments

/AskReddit

  • Piperjamas
    Doctors of Reddit, what is a 1 in a million chance thing about your patient you have witnessed?
    Comments
  • sgtdogface
    Teachers of Reddit, when can you tell if a student is going through depression or self-loathing? If so, what do you try to do to help?
    Comments

/todayilearned

  • IHad360K_KarmaDammit
    TIL that when 13-year-old Ryan White got AIDS from a blood donor in 1984, he was banned from returning to school by a petition signed by 117 parents. An auction was held to keep him out, a newspaper supporting him got death threats, and his family left town when a gun was fired through their window.
    Comments || Link
  • MikkoTheMan
    TIL that all main actors in the movie Saving Private Ryan apart from Matt Damon were required to undergo military training. This was done so the remaining cast would build up genuine resentment for his character.
    Comments || Link

/IAmA

  • Hero_Prinny
    I'm a hearing student attending the only deaf university in the world. Ask me anything! 😃
    Comments

/explainlikeimfive

/food

/Baking

  • whit_knees
    Cheeseburger macarons I made for a themed dinner at a friend’s restaurant 🍔
    Comments || Link

/movies

  • BunyipPouch
    The grave of French film pioneer Georges Méliès, who inspired Martin Scorsese’s 2011 film Hugo, has fallen into disrepair. Now his family and fans are reanimating his fantastical legacy and launching a Kickstarter to restore it to its former splendor and protect it from further decay
    Comments || Link

/sports

/gaming

/television

/Art

/OldSchoolCool

/pics

/gifs

/educationalgifs

/mildlyinteresting

/interestingasfuck

/MostBeautiful

/aww

/Awwducational

  • deathakissaway
    Seagulls stomping on grass is called, the rain dance. This mimics rain by vibration, and brings earthworms and other bugs to surface.
    Comments || Link

Something New

Everyday we’ll feature a selected small subreddit and its top content. It's a fun way to include and celebrate smaller subreddits.

Today's subreddit is...

/birdstakingthetrain

Its top 3 all time posts
submitted by kaunis to tldr [link] [comments]

Advice and sources for newbies:

Welcome! Here are some info, advice and sources for newbies to get you started (what to buy? stick to Bitcoin):
When you come asking if or when is a good time to buy, the answer is: Buy now, always Hodl in FUD times (Bitcoin has "died" many times, but Moneybadger don't care, buy the dips and never panic-sell, stuff like: "China ban Bitcoin...again!" will keep happening again and again.
Here's Bitcoin's response to Jamie Dimon. Stick to the real Bitcoin through all the 'forks' and 'splits' that accomplish nothing but new mediocre, unsafe and centralized altcoins, strengthen/immunize Bitcoin and give you free altcoins to buy more Bitcoin.
All Central Powers look silly trying to control or ban it. Learn from history and listen to this absolute Boss. There will never be enough Bitcoin for every existing millionaire to own just ONE SINGLE BITCOIN, Total number of millionaires (in USD value) worldwide is around 33 million. BTC is the best money.
Also relax, you are actually an early adopter if you start investing today, mentally prepare yourself for healthy and expected market volatility/dips/corrections/"crashes" (check out this amazing 'Corrections Trends Perspective') and remember all this:
Never try to time the market. Dollar cost average by buying what you can afford to lose every week.
It is always a good time to buy Bitcoin if you are hodling long term and not just for day trading, so this is a great strategy. Remember that Bitcoin has practically been up most of the time, and the road to the moon is paved with minor corrections (Bitcoin is never really "down" when you zoom-out).
Everybody parroting: "The bitcoin bubble is about to pop" since 2009, don't know that bitcoin is a decentralized system with mathematically fixed, deflatioary and limited supply currency and its growth is exponential.
So is not farfetched to say that it will be at 100,000 by 2020, since it came from less than $1 to $5,000 in less than 10 years, and it hasn't even hit the bottom part of the exponential 'S-Curve' of adoption. Check out this great 2017 MIT study: "The Cryptocurrency Market Is Growing Exponentially". Patience pays, don't listen to the "Expert Analysts on MSM".
Bitcoin is a Moneybadger that get's stronger and immunized with every new attack and this broad picture of its price since infancy (1 year candles on a logarithmic scale) shows Bitcoin growth is not a "bubble" but it's exponential (bigger "bubbles" every time), this old logarithmic scale has been accurate so far.
Learn the difference between Inflation (dollar) and Deflation (Bitcoin) and just take a look at the fiat >20 trillion (and growing fast) debt clock to get a visual shock of unlimited fiat supply (vs limited Bitcoin/Gold supply).
Bitcoin has outperformed every other currency, commodity, stock and asset since its inception in 2009: "2017: Bitcoin Beats Stocks, Bonds, And Gold, Again”. Bitcoin, the Moneybadger, is the first unseizable store of value in human history, unlike gold, equities, or fiat, it can't be confiscated if stored correctly. How banks think blockchain will disrupt their industry. Check out these Bitcoin Economy and Bitcoin Transaction infographics.
Also, remember its fixed, limited supply of 21 million coins ever, there are just ~4.5 million (~20%) bitcoins left to be mined till 2140 and the production will keep decreasing ("halving") every 4 years till then. So, remember this and don't wait for the Bitcoin "bubble" to burst or for the price to drop significantly again, because you could be waiting forever:
“The best time to buy bitcoin was a few years ago, the second best time is always now”.
Don't be -- this guy
Here is a good start:
"Introduction to Bitcoin" - Andreas Antonopoulos
Playlists on Andreas own YT channel
Check out this great articles:
"What Gave Bitcoin Its Value?"
"How do Bitcoins have value?"
"Yes, Cryptocurrencies are Valuable"
Bitcoin ELI5
Bitcoin Guide
Bitcoin Resources
Bitcoin Infographic.
How to buy Bitcoin?
Where to buy Bitcoin list
Bitcoin 'Awesome Handbook'
Excellent 'Crypto 101' by stos313
Where to use Bitcoin list by Bitcoin-Yoda
Starter Guide "Bitcoin Complete And Ultimate Guide".
Who accepts Bitcoin? List of Companies, Stores, Shops.
submitted by readish to Bitcoin [link] [comments]

What the block war looks like to a normal bitcoiner.

I'm a lurker that's been following the block size debate for some time. I don't understand the fuss around transaction malleability, I don't understand how the Lightning Network is supposed to work or how it will scale, and I only have a vague, ELI5-type sense of the competing visions behind small and big block Bitcoin. Even the simplest technical details beyond the decentralization of nodes vs. of developers go over my head. I'm not stupid, however, and I am able to compare the things being said about the two (three?) products currently being offered to me. And I've noticed some intrinsic imbalances.
I remain agnostic about the best way to scale the Bitcoin network, because I am assessing products whose detailed inner workings I don't really understand. This said, it seems probable to me that Bitcoin Cash and Segwit2x are inferior to Bitcoin Core and will fail in their current forms. It's still quite possible in my mind that Bitcoin Core's scaling roadmap is suboptimal, is unduly beholden to certain interests, or departs from the original vision of Bitcoin, and that big blocks are in some contentious and nebulous sense Bitcoin's 'best hope for success'. However, even if I were convinced of this possibility and fundamentally ideologically opposed to the small blocker vision - in fact, especially if so - I think I'd support Bitcoin Core over its competing implementations at present. That's how weak I think Bitcoin Cash and Segwit2x are: that they might actually be actively harmful for Big Blockerism.
Here's a suitable analogy. I'm a huge believer in alternative energy, and adamantly opposed to fossil fuel interests and the climate change deniers on their payroll (they really all are if you look into it). Now suppose in the morning I wake up to an alternate-universe Earth 20 years ago. Researchers at company XYZ have announced a massive breakthrough in nuclear technology involving synthetic manufacture of a little-known isotope of iridium with ideal fuel cycles, safely disposed of, and huge energy yields. Its byproducts are way less toxic than plutonium waste and also much more abundant in nature. Price parity seems possible within a decade, plutonium mining companies are going bankrupt, etc. Now I'm not a chemist, but one day my chemist friend who knows one of the researchers informs me of a critical oversight: the manufacturing process releases a side compound which when combined with saltwater emits a gas that over time reacts toxically with trace gases in our atmosphere. Large acid rainstorms have started developing over coastlines adjacent to the production sites; several workers are already horribly ill, but the story hasn't reached the public. Clearly this new technology will be outlawed by every nation on earth. Well, I'd want the 'breakthrough' to fail as quickly and quietly as possible. This one piece of news would cause me to cease supporting these researchers in every way. Doing so would be in the interests of nuclear energy, while continuing to promote it, watching it crater and create a huge backlash against nuclear amongst the non-technical public and policy-makers - THAT would heavily be in the interests of the fossil fuel industry, ironically enough.
Without the ability to comprehend a single line of source code, I feel that's in fact the situation that we're in. This feeling is underscored by the sheer number of aborted attempts (by many of the same people, no less): Bitcoin ABC, Bitcoin Unlimited, Bitcoin XT, I can't even remember all the others. Of course, naming similarities alone aren't grounds for opposing a proposal. Here are some that perhaps are.
  1. Technical incompetence. This is by far my biggest problem with Bitcoin Cash and Segwit2x. NOTE AGAIN THAT THIS IS NOT A PROBLEM WITH BIG BLOCKS, BUT WITH BITCOIN CASH AND SEGWIT2X SPECIFICALLY. In Bitcoin Cash, we have the EDA issues. No altcoin I have ever heard of (or at least that I'd think of investing in) has had such instabilities with block times or hashrate. More concerningly, it seems that the idea was hastily slapped together at the last second and that the way it ultimately worked out was basically by accident. If I'm buying in to some Core conspiracy, please cite the evidence that this is a well thought-out plan by the BCH developers, or some intrinsic feature to big block or non-Segwit Bitcoin. With Segwit2x, things are even worse: Jeff Garzik added replay protection, then after Core coders pointed out a security bug, he removed it, and now there is none - and this was a couple weeks ago. (Though I have noticed some in this subreddit retconning this as a feature.) Both of these instances point to development teams that think they know what they are doing, but actually don't. In my opinion, there's basically nothing that spells worse for a fintech product. Personally, I don't know whether Segwit transactions are part of blocks or not, or if Segwit Coin doesn't follow the whitepaper ideology as closely as Bitcoin. I honestly don't know and don't have time to know. What I do know is that based on their very own words and actions I don't want these new development teams leading Bitcoin. What I also see is that this opinion is massively reinforced by the size and experience of said development teams compared to that of Core - only one quarter of which works for Blockstream, I read. Again, if any of these facts are based on some propaganda that's demonstrably false, well, freaking demonstrate it already. Show the puppet strings reaching from Blockstream's puppetmasters to the other 3/4 of Core. Show similar retractions of critical features one month before release deadline that the Core team has made in the past. Show other coins that started off with such a flimsy hashpower distribution before becoming more robust. Show some planning, any type of planning whatsoever, for either coin that suggests the level of sophistication of Core's roadmap, so we can rightly debunk these business takeover theories as part of the Core fake news echo chamber that says 'these developers have no plan except to do whatever Bad Actors A, B, and C want them to do'.
  2. Network effect. No matter how loudly Roger Ver shouts, the economy is not calling Bitcoin Cash Bitcoin. Nor is it calling Segwit2x Bitcoin; across three different platforms it's calling it an altcoin valued at between 0.12 and 0.15 Bitcoins. I'm not claiming that they SHOULDN'T be Bitcoin, I'm claiming that they AREN'T. Certain actors concentrated mostly in the USA are supporting 'the majority hashrate', but these actors do not represent the majority of exchange volume. Not even close. Bitfinex is sticking with Core, Kraken is sticking with Core, Bithumb is silent, presumably sticking with Core - OTCers, there's a lot of them, but my guess is the vast majority if not all of them are sticking with Core. Why wouldn't they? They are not interested in buying coffee, they are interested in making sure their million dollar trades are legitimate and can't possibly be replayed or unplayed by a conspiracy of nodes, miners or developers. This is the real, transaction value-weighted economy. It's tempting to characterize the 'economy' as a bunch of people like oneself, but it's not. In the libertarian wonderworld that we all want Bitcoin to serve, bigger transactors get more votes - sometimes because they in fact represent more transactors. And so, this being the case, even if the position of these big transactors is ideologically shortsighted - even if every single non-NYA business has a vested interest in NYA that they're too Core-blinded to see - the specific projects Bitcoin Cash and Segwit2x are STILL inferior as they are more likely to be compromised with their weaker networks. As another analogy, Betamax had better picture quality, but VHS was better able to cater to the needs of users at the time - until far superior technologies came along to replace them both. And Bitcoin's value depends much more heavily on people agreeing it has value than did that of VHS or Betamax stock. Which leads us to:
  3. Marketing incompetence. The spokespeople of today's big block camp: Jihan Wu with his Twitter tantrums, John McAfee with his penis bets, and Roger Ver yelling that Bitcoin Cash is the real Bitcoin, a claim that grants the entire movement a sheen of reality denialism no matter how morally justified it may be. These are people who start cults or star in memes, not businessmen with the temperament to guide a supposedly more user-facing product into everyone's dreamed-of mass adoption. Stop all this redditing for a moment and stare into outer space. Do you really see your typical Mom and Pop in Nebraska or Shenzheng following the investment advice of these nutjobs? Busting out their Bitcoin Cash smartwallet at Walmart simply because it's truer to Satoshi's original vision? No. Honestly, if you think about it to yourself, you don't see it, because it's ridiculous. Again, I'm making no comment on the flaws or merits of big blocks - a debate I have no technical qualifications for jumping into. What I am saying is that the two current big block proposals are being marketed terribly to the very people that are supposed to fuel these proposals to the moon.
[One tiny moderating factor, I will admit, is that reddit.com/btc is a functioning and informative forum right now, whereas reddit.com/bitcoin is not. It also seems very reasonable that the censorship policies of the latter have a lot to do with this. This one legitimate strength of the current big blocker camp is touted time and again in the comments on these very forums. But even this strength is often carried far beyond a rational reader's suspense of disbelief. Anyone who supports Core is a censorship-serving shill? From my understanding, the vast majority of Bitcoin users (not weighted by transaction value) are in the continent of Asia, whose residents are nowhere near this website. South Korea in particular has massive BCH trading volume. So how true is it that information in Japanese, Chinese and Korean cryptocurrency subforums are manipulated and controlled by Core-sympathetic censors? Not a single thread here has presented evidence to the effect. Like with many other conspiracy theories, I might be deadly wrong on the power of the Core Echo Chamber deluding the bulk of the economy, but I'm not holding my breath.]
Anyway, I hope the issues I've presented are based on information sources - developers, exchanges, industry leaders - that are sufficiently independent from Core and from Blockstream as to be credibly unbiased to those who are in disagreement with them, whether over governance policy, over long-term strategy or on near-term implementation (or all three). If not, for example if there are significant non-NYA-signatory businesses I haven't heard of who are supporting Segwit2x, or if BCH's EDA is a predictable and well-documented benefit to these specific players, or if Segwit2x has a workable replay protection plan whose commits Core is somehow maliciously sabotaging, or if Blockstream actually controls development of Ethereum's Plasma rather than independently inspiring it, or if there's any other factual misconceptions I've expressed in my analysis, please feel free to enlighten us in the comments below. Only no semantic wrangling about what constitutes the True Bitcoin or the True Block. I don't worship Bitcoin and I don't care.
Cliffs: It seems to me that information provided solely from non-Core/Blockstream outlets suffices to advise one to steer clear of non-Core implementations of Bitcoin at present, independently of whether the Bitcoin Core implementation is ideal. I am making this post to see if anyone will demonstrate biases about these facts or provide counter-facts showing even deeper problems with Bitcoin Core's current implementation or roadmap.
Cliffs of cliffs: Maybe Core is evil, but at least we're sure their code will work... for now.
submitted by nearly-human to btc [link] [comments]

JPMorgan suppresses gold & silver prices to prop up the USDollar - via "naked short selling" of GLD & SLV ETFs. Now AXA (which owns $94 million of JPMorgan stock) may be trying to suppress Bitcoin price - via tiny blocks. But AXA will fail - because the market will always "maximize coinholder value"

TL;DR
As a bitcoin user (miner, hodler, investor) you have all the power - simply due to the nature of markets and open-source software. Core/Blockstream, and their owners at AXA, can try to manipulate the market and the software for a while, by paying off devs who prefer tiny blocks, or censoring the news, or conducting endless meetings - but in the end, you know that they have no real control over you, because endless meetings are bullshit, and code and markets are everything.
Bitcoin volume, adoption, blocksize and price have been rising steadily for the past 7 years. And they will continue to do so - with or without the cooperation of Core/Blockstream and the Chinese miners - because just like publicly held corporations always tend to "maximize shareholder value, publicly held cryptocurrencies always tend to "maximize coinholder value".
How much of a position does AXA have in JPMorgan?
AXA currently holds about $94 million in JPMorgan stock.
http://zolmax.com/investing/axa-has-94718000-position-in-jpmorgan-chase-co-jpm/794122.html
https://archive.is/HExxH
Admittedly this is not a whole lot, when you consider that the total of JPMorgan's outstanding shares is currently around USD 3.657 billion.
But still it does provide a suggestive indication of how these big financial firms are all in bed with each other. Plus the leaders of these big financial firms also tend to hang out which each other professionally and socially, and are motivated to protect the overall system of "the legacy ledger of fantasy fiat" which allows them to rule the world.
How does JPMorgan use paper GLD and SLV ETFs to suppress the price of physical gold and silver?
As many people know, whistleblower Andrew Maguire exposed the massive criminal scandal where JPMorgan has been fraudulently manipulating gold and silver prices for years.
JPMorgan does this via the SLV and GLD ETFs (Exchange Traded Funds).
The reason they do it is in order to artificially suppress the price of gold and silver using "naked short-selling":
https://duckduckgo.com/?q=andrew+maguire+gata+jpmorgan+nake+short&t=hd&ia=videos
How exactly does JPMorgan manage to commit this kind of massive fraud?
It's easy!
There's actually about 100x more "phantom" or fake silver and gold in existence (in the form of "paper" certificates - SLV and GLD ETFs) - versus actual "physical" gold and silver that you can take delivery on and hold in your hand.
That means that if everyone holding fake/paper SLV & GLD ETF certificates were to suddenly demand "physical delivery" at the same moment, then only 1% of those people would receive actual physical silver and gold - and the rest would get the "equivalent" in dollars. This is all well-known, and clearly spelled out in the fine print of the GLD and SLV ETF contracts.
(This is similar to "fractional reserve" where almost no banks have enough actual money to cover all deposits. This means that if everyone showed up at the bank on the same day and demanded their money, the bank would go bankrupt.)
So, in order to fraudulently suppress the price of gold and silver (and, in turn, prevent the USDollar from crashing), JPMorgan functions as a kind of "bear whale", dumping "phantom" gold and silver on the market in the form of worthless "paper" SLV and GLD ETF certificates, "whenever the need arises" - ie, whenever the US Dollar price starts to drop "too much", and/or whenever the gold and silver prices start to rise "too much".
(This is similar to the "plunge protection team" liquidity providers, who are well-known for preventing stock market crashes, by throwing around their endlessly printed supply of "fantasy fiat", buying up stocks to artificially prevent their prices from crashing. This endless money-printing and market manipulation actually destroys one of the main purposes of capitalism - which is to facilitate "price discovery" in order to reward successful companies and punish unsuccessful ones, to make sure that they actually deliver the goods and services that people need in the real world.)
Is there an ELI5 example of how "naked short selling" works in the real world?
Yes there is!
The following example was originally developed by Overstock CEO Patrick Byrne - who, as many people know, is very passionate about using Bitcoin not only as cash, but also to settle stock trades - because his company Overstock got burned when Wall Street illegally attacked it using naked short selling:
Here's how naked short-selling works: Imagine you travel to a small foreign island on vacation. Instead of going to an exchange office in your hotel to turn your dollars into Island Rubles, the country instead gives you a small printing press and makes you a deal: Print as many Island Rubles as you like, then on the way out of the country you can settle your account. So you take your printing press, print out gigantic quantities of Rubles and start buying goods and services. Before long, the cash you’ve churned out floods the market, and the currency's value plummets. Do this long enough and you'll crack the currency entirely; the loaf of bread that cost the equivalent of one American dollar the day you arrived now costs less than a cent.
With prices completely depressed, you keep printing money and buy everything of value - homes, cars, priceless works of art. You then load it all into a cargo ship and head home. On the way out of the country, you have to settle your account with the currency office. But the Island Rubles you printed are now worthless, so it takes just a handful of U.S. dollars to settle your debt. Arriving home with your cargo ship, you sell all the island riches you bought at a discount and make a fortune.
http://www.rollingstone.com/politics/news/wall-streets-naked-swindle-20100405
Why isn't anybody stopping JPMorgan from using "naked short selling" to fraudulently suppress gold and silver prices?
Because "certain people" benefit!
Of course, this "naked short selling" (selling a "phantom" asset which doesn't actually exist in order to suppress the price of the "real" asset) is actually illegal - but JPMorgan is allowed to get away with it, because suppressing the gold and silver price helps prop up the United States and world's major "fantasy fiat" financial institutions - which would be bankrupt without this kind of "artificial life support."
How does suppressing the gold and silver price help governments and banks?
If gold and silver (and Bitcoin!) rose to their actual "fair market value", then the US dollar (and most other national "fiat" currencies) would crash - and many major financial institutions would be exposed as bankrupt. Also, many "derivatives contracts" would default - and only a tiny percentage of defaults would destroy most major financial companies' balance sheets. (For example, see Deutsche Bank - which is may become "the next Lehman", due to having around around $80 trillion in dangerous derivatives exposure.)
So, major financial firms like JPMorgan are highly motivated to prevent a "real" (honest) market from existing for "counterparty-free" assets such as physical gold and silver (and Bitcoin!)
So, JPMorgan fraudulently manipulate the precious-metals market, by flooding it with 100x more "phantom" "silver" and "gold" in the form of worthless GLD and SLV ETF certificates.
Basically, JPMorgan is doing the "dirty work" to keep the US government and its "too-big-to-fail" banks and other financial institutions afloat, on "artificial life support".
Otherwise, without this GLD & SLV ETF "naked short selling" involving market manipulation and fraud, the US government - and most major US financial institutions, as well as many major overseas financial institutions, and most central banks - would all be exposed as bankrupt, once traders and investors discovered the real price of gold and silver.
So, what does this have to do with AXA and Bitcoin?
Just like JPMorgan wants to suppress the price of gold and silver to prop up the USDollar, it is reasonable to assume that AXA and other major financial players probably also want to suppress the price of Bitcoin for the same reasons - in order to postpone the inevitable day when the so-called "assets" on their balance sheets (denominated in US Dollars and other "fantasy fiat" currencies, as well as derivatives) are exposed as being worthless.
Actually, only the motives are the same, while the means would be quite different - ie, certain governments or banks might want to suppress the Bitcoin price - but they wouldn't be able to use "naked short selling" to do it.
As we know, this is because with Bitcoin, people can now simply demand "cryptographic proof" of how many bitcoins are really out there - instead of just "trusting" some auditor claiming there is so much gold and silver in a vault - or "trusting" that a gold bar isn't actually filled with worthless tungsten (which happens to have about the same "molecular weight" as gold, so these kinds of counterfeit gold bars have been a serious problem).
(And, by the way: hopefully it should also be impossible to do "fractional reserve" using "level 2" sidechains such as the Lightning Network - although that still remains to be seen. =)
So, even though it should not be possible to flood the market with "phantom" Bitcoins (since people can always demand "cryptographic proof of reserves"), AXA could instead use a totally different tactic to suppress the price: by suppressing Bitcoin trading volume - explained further below.
Does AXA does actually have the motives to be suppressing the Bitcoin price - right now?
Yes, they do!
As described above, the only thing which gives giant banking and finance companies like JPMorgan and AXA the appearance of solvency is massive accounting fraud and market manipulation.
They use the "legacy ledger of fantasy fiat" (ie, debt-backed "currency", endlessly printed out of thin air) - and the never-ending carrousel of the worldwide derivatives casino, currently worth around 1.2 quadrillion dollars - to "paper over" their losses, and to prevent anyone from discovering that most major insurance firms like AXA - and most major banks - would already be considered bankrupt, if you counted only their real assets. (This is known as "mark-to-market" - which they hate to do. They much prefer to do "mark-to-model" which some people call "mark-to-fantasy" - ie, fraudulent accounting based on "phantom" assets" and rampant market manipulation.)
So, it is public knowledge that nearly all "too-big-to-fail" financial companies like AXA (and JPMorgan) would be considered bankrupt if their fraudulent accounting practices were exposed - which rely on the "legacy ledger of fantasy fiat" and the "never-ending carrousel of the derivatives casino" to maintain the façade of solvency:
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
https://np.reddit.com/btc/comments/4r2pw5/if_bitcoin_becomes_a_major_currency_then_tens_of/
Does AXA actually have the means to to be suppressing the Bitcoin price... right now?
Yes, they do!
For example, AXA could decide to support economically ignorant devs like Greg Maxwell (CTO of Blockstream), Adam Back (CEO of Blockstream), and the other Core devs who support Blockstream's "roadmap" based on tiny blocks.
Wait - isn't AXA already doing precisely that?
Yes, they are!
As we all know, AXA has invested tens of millions of dollars in Blockstream, and Blockstream is indeed fighting tooth and nail against bigger blocks for Bitcoin.
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
https://np.reddit.com/btc/comments/47zfzt/blockstream_is_now_controlled_by_the_bilderberg/
So, how would artificially tiny blocks artificially suppress the Bitcoin price?
This is pretty much based on common sense - plus it's also been formalized and roughly quantified in concepts involving networking and economics, such as "Metcalfe's Law".
Metcalfe's Law says pretty much what you'd expect it to say - ie: the more people that use a system, the more valuable that system is.
More precisely: the value of a system is proportional to the square of the number of users in that system - which also makes sense, since when there are N users in a system, the number of connections between them is N*(N - 1)2 which is "on the order of" N squared.
In fact, Metcalfe's Law has been shown to hold for various types of networks and markets - including faxes, internet, national currencies, etc.
Does Metcalfe's Law apply to Bitcoin?
Yes, it does!
The past 7 years of data also indicates - as predicted - that Metcalfe's Law also does indeed apply to Bitcoin as well.
Graphs show that during the 5 years before Blockstream got involved with trying to artificially suppress the Bitcoin price via their policy of artificially tiny blocks, Bitcoin prices were roughly in proportion to the square of the (actual) Bitcoin blocksizes.
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
https://np.reddit.com/btc/comments/4dfb3bitcoin_has_its_own_e_mc2_law_market/
During all those years, actual blocksizes were still low enough to not bump into the artificial "ceiling" of the artificial 1 MB "max blocksize" limit - which, remember, was only there as a temporary anti-spam measure, so it was deliberately set to be much higher than any actual blocksize, and everyone knew that this limit would be removed well before actual blocksizes started getting close to that 1 MB "max blocksize" limit.
But now that Bitcoin volume can't go up due to hitting the artificial "max blocksize" 1 MB limit (unless perhaps some people do bigger-value transactions), Bitcoin price also can't go up either:
Bitcoin's market price is trying to rally, but it is currently constrained by Core/Blockstream's artificial blocksize limit. Chinese miners can only win big by following the market - not by following Core/Blockstream. The market will always win - either with or without the Chinese miners.
https://np.reddit.com/btc/comments/4ipb4q/bitcoins_market_price_is_trying_to_rally_but_it/
So what does this all have to do with that meeting in Silicon Valley this weekend, between Core/Blockstream and the Chinese miners?
This latest episode in the never-ending saga of the "Bitcoin blocksize debates" is yet another centralized, non-transparent, invite-only stalling non-scaling, no-industry-invited, no-solutions-allowed, "friendly" meeting being held this weekend - at the very last moment when Blockstream/Core failed to comply with the expiration date for their previous stalling non-scaling non-agreement:
The Fed/FOMC holds meetings to decide on money supply. Core/Blockstream & Chinese miners now hold meetings to decide on money velocity. Both are centralized decision-making. Both are the wrong approach.
https://np.reddit.com/btc/comments/4vfkpthe_fedfomc_holds_meetings_to_decide_on_money/
So, on the expiration date of the HK stalling / non-scaling non-agreement, Viacoin scammer u/btcdrak calls a meeting with no customer-facing businesses invited (just Chinese miners & Core/Blockstream), and no solutions/agreements allowed, and no transparency (just a transcript from u/kanzure). WTF!?
https://np.reddit.com/btc/comments/4vgwe7/so_on_the_expiration_date_of_the_hk_stalling/
This disastrous, desperate meeting is the latest example of how Bitcoin's so-called "governance" is being hijacked by some anonymous scammer named u/btcdrak who created a shitcoin called Viacoin and who's a subcontractor for Blockstream - calling yet another last-minute stalling / non-scaling meeting on the expiration date of Core/Blockstream's previous last-minute stalling / non-scaling non-agreement - and this non-scaling meeting is invite-only for Chinese miners and Core/Blockstream (with no actual Bitcoin businesses invited) - and economic idiot u/maaku7 who also brought us yet another shitcoin called Freicoin is now telling us that no actual solutions will be provided because no actual agreements will be allowed - and this invite-only no-industry no-solutions / no-agreements non-event will be manually transcribed by some guy named u/kanzure who hates u/Peter__R (note: u/Peter__R gave us actual solutions like Bitcoin Unlimited and massive on-chain scaling via XThin) - and as usual this invite-only non-scaling no-solutions / no-agreements no-industry invite-only non-event is being paid for by some fantasy fiat finance firm AXA whose CEO is head of the Bilderberg Group which will go bankrupt if Bitcoin succeeds.**
What is the purpose of this meeting?
The "organizers" and other people involved - u/btcdrak and u/maaku7 - say that this is just a "friendly" meeting - and it is specifically forbidden for any "agreements" (or scaling solutions) to come out of this meeting.
What good is a meeting if no agreements or solutions can some out of it?
Good question!
A meeting where solutions are explicitly prohibited is actually perfect for Blockstream's goals - because currently the status quo "max blocksize" is 1 MB, and they want to keep it that way.
So, they want to leverage the "inertia" to maintain the status quo - while pretending to do something, and getting friendly with the miners (and possibly making them other "offers" or "inducements").
So this meeting is just another stalling tactic, like all the previous ones.
Only now, after the community has seen this over and over, Blockstream has finally had to publicly admit that it is specifically forbidden for any "agreements" (or scaling solutions) to come out of this meeting - which makes it very obvious to everyone that this whole meeting is just an empty gesture.
So, why is this never-ending shit-show still going on?
Mainly due to inertia on the part of many users, and dishonesty on the part of Core/Blockstream devs.
Currently there is a vocal group of 57 devs and wannabe devs who are associated with Core/Blockstream - who refuse to remove the obsolete, temporary anti-spam measure (or "kludge") which historically restricted Bitcoin throughput to a 1 MB "max blocksize".
Somehow (via a combination of media manipulation, domain squatting, censorship, staged international Bitcoin stalling "scaling" meetings and congresses, fraudulent non-agreements, and other dishonest pressure tactics) they've managed to convince everyone that they can somehow dictate to everyone else how Bitcoin governance should be done.
vampireban wants you to believe that "a lot of people voted" and "there is consensus" for Core's "roadmap". But he really means only 57 people voted. And most of them aren't devs and/or don't understand markets. Satoshi designed Bitcoin for the economic majority to vote - not just 57 people.
https://np.reddit.com/btc/comments/4ecx69/uvampireban_wants_you_to_believe_that_a_lot_of/
Meanwhile, pretty much everyone else in Bitcoin - ie, everyone who's not involved with Blockstream - knows that Bitcoin can and should have bigger blocks by now, to enable increased adoption, volume, and price, as shown by the following points:
(1) Most miners, and investors, and Satoshi himself, all expected Bitcoin to have much bigger blocks by now - but these facts are censored on most of the media controlled by Core/Blockstream-associated devs and their friends:
Satoshi Nakamoto, October 04, 2010, 07:48:40 PM "It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit / It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete."
https://np.reddit.com/btc/comments/3wo9pb/satoshi_nakamoto_october_04_2010_074840_pm_it_can/
The moderators of r\bitcoin have now removed a post which was just quotes by Satoshi Nakamoto.
https://np.reddit.com/btc/comments/49l4uh/the_moderators_of_rbitcoin_have_now_removed_a/
(2) Research has repeatedly shown that 4 MB blocks would work fine with people's existing hardware and bandwidth - such as the Cornell study, plus empirical studies in the field done by jtoomim:
https://np.reddit.com/btc+bitcoin/search?q=cornell+4+mb&restrict_sr=on&sort=relevance&t=all
(3) Even leading Bitcoin figures such as Blockstream CTO Greg Maxwell u/nullc and r\bitcoin censor moderator u/theymos have publicly stated that 2 MB blocks would work fine (in their rare moments of honesty, before they somehow became corrupted):
theymos 1/31/2013: "I strongly disagree with the idea that changing the max block size is a violation of the 'Bitcoin currency guarantees'. Satoshi said that the max block size could be increased, and the max block size is never mentioned in any of the standard descriptions of the Bitcoin system"
https://np.reddit.com/btc/comments/4qopcw/utheymos_1312013_i_strongly_disagree_with_the/
"Even a year ago I said I though we could probably survive 2MB" - nullc
https://np.reddit.com/btc/comments/43mond/even_a_year_ago_i_said_i_though_we_could_probably/
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
https://np.reddit.com/btc/comments/4mlo0z/greg_maxwell_used_to_have_intelligent_nuanced/
So... What can we do now to stop giant financial institutions like AXA from artificially suppressing Bitcoin adoption, volume and price?
It's not as hard as it might seem - but it might (initially) be a slow process!
First of all, more and more people can simply avoid using crippled code with an artificially tiny "max blocksize" limit of 1 MB produced by teams of dishonest developers like Core/Blockstream who are getting paid off by AXA.
Other, more powerful Bitcoin code is available - such as Bitcoin Unlimited or Bitcoin Classic:
https://np.reddit.com/btc/comments/3ynoaa/announcing_bitcoin_unlimited/
https://np.reddit.com/btc/comments/4089aj/im_working_on_a_project_called_bitcoin_classic_to/
In addition, proposals for massive on-chain scaling have also been proposed, implemented, and tested - such as Xthin:
https://np.reddit.com/btc+bitcoin/search?q=xthin+author%3Apeter__r&restrict_sr=on&sort=relevance&t=all
Hasn't the market already rejected other solutions like Bitcoin Unlimited or Bitcoin Classic?
Actually, no!
If you only read r\bitcoin, you might not hear about lots of these promising new innovations - or you might hear people proclaiming that they're "dead".
But that forum r\bitcoin is not reliable, because it routinely censors any discussion of on-chain scaling for Bitcoin, eg:
The most upvoted thread right now on r\bitcoin (part 4 of 5 on Xthin), is default-sorted to show the most downvoted comments first. This shows that r\bitcoin is anti-democratic, anti-Reddit - and anti-Bitcoin.
https://np.reddit.com/btc/comments/4mwxn9/the_most_upvoted_thread_right_now_on_rbitcoin/
So, due to the combination of inertia (people tend to be lazy and cautious about upgrading their software, until they absolutely have to) and censorship, some people claim or believe that solutions like Bitcoin Unlimited or Bitcoin Classic have "already" been rejected by the community.
But actually, Bitcoin Classic and Bitcoin Unlimited are already running seamlessly on the Bitcoin network - and once they reach a certain predefined safe "activation threshold", the network will simply switch over to use them, upgrading from the artificially restrictive Bitcoin Core code:
Be patient about Classic. It's already a "success" - in the sense that it has been tested, released, and deployed, with 1/6 nodes already accepting 2MB+ blocks. Now it can quietly wait in the wings, ready to be called into action on a moment's notice. And it probably will be - in 2016 (or 2017).
https://np.reddit.com/btc/comments/44y8ut/be_patient_about_classic_its_already_a_success_in/
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
https://np.reddit.com/btc/comments/4kxtq4/i_think_the_berlin_wall_principle_will_end_up/
So what is the actual point of this weekend's meeting between Core/Blockstream and the Chinese Miners?
It's mainly just for show, and ultimately a meaningless distraction - the result of desperation and dishonesty on the part of Core/Blockstream.
As mentioned above, real upgrades to Bitcoin like Bitcoin Classic and Bitcoin Unlimited have already been implemented and tested and are already running on the Bitcoin network - and the overall Bitcoin itself can and probably will switch over to them, regardless of any meaningless "meetings" and delaying tactics.
Is it inevitable for Bitcoin to move to bigger blocks?
Yes, for three reasons:
(1) As mentioned above, studies show that the underlying hardware and bandwidth will already easily support actual blocksizes of 2 MB, and probably 4 MB - and everyone actually agrees on this point, including die-hard supporters of tiny blocks such as Blockstream CTO Gregory Maxwell u/nullc, and r\bitcoin censor moderator u/theymos.
(2) The essential thing about a publicly held company is that it always seeks to maximize shareholder value - and, in a similar fashion, a publicly held cryptocurrency also always seeks to maximize "coinholder" value.
(3) Even if Core/Blockstream continues to refuse to budge, the cat is already out of the bag - they can't put the toothpaste of open-source code back into the tube. Some people might sell their bitcoins for other cryptocurrencies which have better scaling - but a better solution would probably be to wait for a "spinoff" to happen. A "spinoff" is a special kind of "hard fork" where the existing ledger is preserved, so your coins remain spendable on both forks, and you can trade your coins on markets, depending on which fork you prefer.
Further information on "spinoff technology" can be found here:
https://bitcointalk.org/index.php?topic=563972.0
https://duckduckgo.com/?q=site%3Abitco.in%2Fforum+spinoff&ia=web
An excellent discussion of the economic advantages of using a "spinoff" to keep the original ledger (and merely upgrade the ledger-appending software), can be found here:
https://bitcointalk.org/index.php?topic=678866.0
And today, based on new information learned from Ethereum's recent successful "hardfork split", people are already starting to talk about the specific details involved in implementing a "spinoff" or "hardfork split" for Bitcoin to support bigger blocks - eg, changing the PoW, getting exchanges to support trading on both sides of the fork, upgrading wallets, preventing replay attacks, etc:
We now know the miners aren't going to do anything. We now know that a minority fork can survive. Why are we not forking right now?
https://np.reddit.com/btc/comments/4vieve/we_now_know_the_miners_arent_going_to_do_anything/
So - whether it's via a hardfork upgrade, or a hardfork split or "spinoff" - it is probably inevitable that Bitcoin will eventually move to bigger blocks (within the underlying hardware and bandwidth constraints of course - which would currently support 2-4 MB blocksizes).
Why are bigger blocks inevitable for Bitcoin?
Because that's how markets always have and always will behave - and there's nothing that Blockstream/Core or AXA can do to stop this - no matter how many pointless stalling scaling meetings they conduct, and no matter how many non-agreements they sign and then break.
Conclusion
Endless centralized meetings and dishonest agreements are irrelevant. The only thing that matters is decentralized markets and open-source code. Users and markets decide on what code to install, and what size blocks to accept. Bitcoin adoption, volume - and price - will continue to grow, with or without the cooperation of the dishonest devs from Core/Blockstream, or misguided miners - or banksters at "fantasy fiat" financial firms like JPMorgan or AXA.
submitted by ydtm to btc [link] [comments]

Subreddit Stats: CryptoTechnology top posts from 2017-12-23 to 2018-06-24 07:18 PDT

Period: 183.01 days
Submissions Comments
Total 599 9753
Rate (per day) 3.27 52.35
Unique Redditors 416 2411
Combined Score 14451 35700

Top Submitters' Top Submissions

  1. 475 points, 15 submissions: Neophyte-
    1. "Do you need a Blockchain?" - this paper is fantastic, everyone should read this before evaluating a coin and if requires a block chain to solve a solution the coin is promising to solve. (139 points, 42 comments)
    2. Noticed the huge rise of EOS lately what does it have over NEO and ethereum and to a lesser extent Cardano? I tried researching it, but wasn't sold. (56 points, 58 comments)
    3. Do any of you foresee a crypto being widely adopted as a general purpose payment coin? nano, btc, btccash etc (take your pick). I think it won't happen for reasons in this post. What do you think? (54 points, 54 comments)
    4. I had a Q&A with Bruno head architect / CEO of oyster, thought you guys might like it. (42 points, 2 comments)
    5. coinshuffle paper, a way to provide anonymity on btc without changing btc protocol, would like your guys input on this (34 points, 39 comments)
    6. What do you think the value of interblock chain coins have? ARK, ICON, Aion, and Wanchain (31 points, 10 comments)
    7. i see remittance as one of the biggest potentials out of cryptos. Ripple / stellar. but what about banks pooling resources togeather to create their own private block chain? they are doing this, its a threat to xrp/xlm. Its opaque, we dont know what they have achieved (30 points, 47 comments)
    8. protecting sensitive data in smart contract platforms (dApps) NEO, Eth, Enigma, DragonChain etc. what ways can data be protected? (25 points, 6 comments)
    9. Australian Securities Exchange (ASX), Australia's stock exchange provider is implementing a permissioned blockchain to replace CHESS their existing centralised solution for settlement and clearance. Can anyone think of a good reason why they went with blockchain? (19 points, 15 comments)
    10. what do you guys think about enigma with polymorphic encryption vs zero proofs in ethereum? (15 points, 4 comments)
  2. 318 points, 7 submissions: crypto_ha
    1. Why is Ripple considered a cryptocurrency (by many)? (107 points, 63 comments)
    2. So reportedly there are serious vulnerabilities found in EOS’ code. And it seems like those are more than just random software bugs. (97 points, 29 comments)
    3. A newly found vulnerability in Nano's Android wallet (42 points, 12 comments)
    4. EOS mainnet is official live (finally), but... (39 points, 23 comments)
    5. How can disputes on the Blockchain be solved? (16 points, 12 comments)
    6. Pro-crypto Laws Could Be Bad For Innovation (15 points, 4 comments)
    7. Benefits of a "satellite node"? (2 points, 0 comments)
  3. 253 points, 4 submissions: rockyrainy
    1. Bitcoin Gold hit by Double Spend Attack (51% attack). The Attacker reversed 22 blocks. (179 points, 101 comments)
    2. ZK-starks white paper published (40 points, 16 comments)
    3. [Q] How does a network reach consensus on what time it is? (21 points, 17 comments)
    4. Stateless (no history) Cryptocurrency via snapshots? (13 points, 7 comments)
  4. 246 points, 3 submissions: HSPremier
    1. From a technical standpoint: Why does every blockchain projects need their own coins? (180 points, 51 comments)
    2. What is Reddit's obsession with REQ? (64 points, 44 comments)
    3. What is the technological difference between a privacy coin and a privacy coin platform? Won't a privacy coin platform be more superior than a privacy coin? (2 points, 3 comments)
  5. 213 points, 9 submissions: ndha1995
    1. Why are there so many garbage posts the past 24 hours? (59 points, 10 comments)
    2. Google Unveils 72-Qubit Quantum Processor With Low Error Rates (48 points, 24 comments)
    3. IOTA's Network-Bound PoW consensus, is it feasible? (41 points, 13 comments)
    4. Can somebody compare Qtum vs. NEO, technology-wise? (E.g. PoS vs. PoW; smart contract protocols...) (20 points, 15 comments)
    5. Can someone compare the progress of Ark and Lisk? Which has gone further in terms of technology? Which tends to meet deadlines more frequently (i.e. progressing faster)? (19 points, 7 comments)
    6. The European Quantum Technologies Roadmap (Dec. 2017) (14 points, 15 comments)
    7. Is Ethereum Turing-complete as advertised? Why or why not? (7 points, 7 comments)
    8. AIDOC - AI Doctor on the Blockchain (3 points, 4 comments)
    9. What do you guys think of IoT Chain? (2 points, 1 comment)
  6. 170 points, 1 submission: ilielezi
    1. Why white papers in crypto world are so unprofessional? (170 points, 90 comments)
  7. 160 points, 3 submissions: FashionistaGuru
    1. How do we change the culture around cryptocurrency? (118 points, 54 comments)
    2. Which cryptos have the best new user experience? (28 points, 35 comments)
    3. Why does Apple prevent many crypto apps from entering the App Store? (14 points, 9 comments)
  8. 158 points, 2 submissions: tracyspacygo
    1. My brief observation of most common Consensus Algorithms (155 points, 50 comments)
    2. Most advanced Cryptocurrencies Comparison Table (3 points, 8 comments)
  9. 153 points, 1 submission: shunsaitakahashi
    1. Proof-of-Approval: Stake Based, 1 Block Finality & History Attack Defense (153 points, 4 comments)
  10. 151 points, 10 submissions: GainsLean
    1. What Do You Want To Learn? (32 points, 20 comments)
    2. Videos For Developers Who Want To Learn Blockchain In A Practical Way (30 points, 17 comments)
    3. Solution To $10K Art Prize (24 points, 4 comments)
    4. Get Involved With The Smart Contract Coding Challenge (23 points, 4 comments)
    5. Blockchain Course Outline Has Been Released - Feedback warranted (21 points, 12 comments)
    6. Introduction To Distributed Systems And Consensus Protocols (9 points, 2 comments)
    7. SPV Wallets Vs API Wallets (4 points, 1 comment)
    8. Are there any closed source crypto wallets? (3 points, 19 comments)
    9. Are there any successful proof of identity projects? (3 points, 9 comments)
    10. 12 Popular Consensus Algorithms - Explained (2 points, 0 comments)

Top Commenters

  1. Neophyte- (763 points, 327 comments)
  2. ndha1995 (533 points, 86 comments)
  3. turtleflax (353 points, 87 comments)
  4. mraindeer (303 points, 42 comments)
  5. senzheng (280 points, 193 comments)
  6. AlexanderSupersloth (276 points, 29 comments)
  7. signos_de_admiracion (252 points, 20 comments)
  8. holomntn (239 points, 24 comments)
  9. GainsLean (237 points, 79 comments)
  10. manly_ (228 points, 39 comments)

Top Submissions

  1. From a technical standpoint: Why does every blockchain projects need their own coins? by HSPremier (180 points, 51 comments)
  2. Bitcoin Gold hit by Double Spend Attack (51% attack). The Attacker reversed 22 blocks. by rockyrainy (179 points, 101 comments)
  3. Why white papers in crypto world are so unprofessional? by ilielezi (170 points, 90 comments)
  4. My brief observation of most common Consensus Algorithms by tracyspacygo (155 points, 50 comments)
  5. Proof-of-Approval: Stake Based, 1 Block Finality & History Attack Defense by shunsaitakahashi (153 points, 4 comments)
  6. "Do you need a Blockchain?" - this paper is fantastic, everyone should read this before evaluating a coin and if requires a block chain to solve a solution the coin is promising to solve. by Neophyte- (139 points, 42 comments)
  7. Technical comparison of LIGHTNING vs TANGLE vs HASHGRAPH vs NANO by Qwahzi (130 points, 37 comments)
  8. Everytime I try to investigate the technology behind Cardano(Ada), I come across the words "scientific" and "peer-reviewed" over and over but almost no actual details. Can someone fill how this coin actually works and where they are in development? by RufusTheFirefly (123 points, 52 comments)
  9. How do we change the culture around cryptocurrency? by FashionistaGuru (118 points, 54 comments)
  10. Can we have a real debate about the Bitcoin scaling issue? by rocksolid77 (112 points, 89 comments)

Top Comments

  1. 162 points: holomntn's comment in ELI5: Why did it take so long for blockchain technology to be created?
  2. 128 points: KingManlet's comment in My concerns with RaiBlocks
  3. 118 points: KnifeOfPi2's comment in How do we change the culture around cryptocurrency?
  4. 103 points: benthecarman's comment in If crypto now is like 'the Internet' of the past, where are we?
  5. 102 points: theglitteringone's comment in Outside of currency and voting, blockchain is awful and shouldnt be used. Can anyone explain where blockchain is worth the cost?
  6. 100 points: pegasuspect93's comment in If crypto now is like 'the Internet' of the past, where are we?
  7. 94 points: bannercoin's comment in Realistically, why would anybody expect the startup crypto platforms to beat out the corporate giants who are developing their own Blockchain as a Service (BaaS) solutions? Ex. IBM, SAP, JP Morgan...
  8. 83 points: AlexCoventry's comment in Ethereum private key with all zeroes leads to an account with 5000$ on it
  9. 82 points: ep7i0CtZek's comment in Is blockchain really useful ?
  10. 81 points: X7spyWqcRY's comment in My concerns with RaiBlocks
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Welcome post for bitcoin newbies with common advice, fun memes and serious resources (updated).

Welcome to bitcoin!
When you come asking if or when is a good time to buy (the real Bitcoin, not Bcash), the answer is: Buy now, always Hodl in FUD times (Bitcoin has "died" many times, but Moneybadger don't care, buy the dips and never panic-sell, stuff like: "China ban Bitcoin...again!" will keep happening again and again.
Here's Bitcoin's response to Jamie Dimon. Stick to the real Bitcoin through all the 'forks' and 'splits' that accomplish nothing but new mediocre, unsafe and centralized altcoins, strengthen/immunize Bitcoin and give you free altcoins to buy more Bitcoin.
All Central Powers look silly trying to control or ban it. Learn from history and listen to this absolute Boss. There will never be enough Bitcoin for every existing millionaire to own just ONE SINGLE BITCOIN, Total number of millionaires (in USD value) worldwide is around 33 million. BTC is the best money.
Also relax, you are actually an early adopter, BTC is still relatively small, mentally prepare yourself for healthy and expected market volatility/dips/corrections/"crashes" (check out this amazing 'Corrections Trends Perspective') and remember all this:
Follow this basic rules of Bitcoin:
It is always a good time to buy Bitcoin if you are hodling long term and not just for day trading, so this is a great strategy. Remember that Bitcoin has practically been up most of the time, and the road to the moon is paved with minor corrections (Bitcoin is never really "down" when you zoom-out).
Everybody parroting: "The bitcoin bubble is about to pop" since 2009, don't know that bitcoin is a decentralized system with mathematically fixed, deflationary and limited supply currency and its growth is exponential, not linear.
When they bring up the overused "2000 Dotcom Bubble collapse" argument, tell them: I hope so! Look at these past decentralized tech adoption "bubbles". Hyperbitcoinization, it is coming.
So is not farfetched to say that it will be at 100,000 by 2020, since it came from less than $1 to $5,000 in less than 10 years, and it hasn't even hit the bottom part of the exponential 'S-Curve' of adoption. Check out this great 2017 MIT study: "The Cryptocurrency Market Is Growing Exponentially". Patience pays, don't listen to most "Expert Analysts" or MSM".
Bitcoin is a Moneybadger that get's stronger and immunized with every new attack and this broad picture of its price since infancy (1 year candles on a logarithmic scale) shows Bitcoin growth is not a "bubble" but it's exponential (bigger "bubbles" every time), this old logarithmic scale has been accurate so far, as well as analysts like Wall Street strategist Tom Lee by using Metcalfe's Law: "The value of a telecommunications network is proportional to the square of the number of connected users of the system (n2)" wiki-link. He explains it clearer here.
Learn the difference between Inflation (dollar) and Deflation (Bitcoin) and just take a look at the fiat >20 trillion (and growing fast) debt clock to get a visual shock of unlimited fiat supply (vs limited Bitcoin/Gold supply).
Bitcoin has outperformed every other currency, commodity, stock and asset since its inception in 2009: "2017: Bitcoin Beats Stocks, Bonds, And Gold, Again”. Bitcoin, the Moneybadger, is the first unseizable store of value in human history, unlike gold, equities, or fiat, it can't be confiscated if stored correctly. How banks think blockchain will disrupt their industry. Check out these Bitcoin Economy and Bitcoin Transaction infographics.
Also, remember its fixed, limited supply of 21 million coins ever, there are just ~4.5 million (~20%) bitcoins left to be mined till 2140 and the production will keep decreasing ("halving") every 4 years till then. So, remember this and don't wait for the Bitcoin "bubble" to burst or for the price to drop significantly again, because you could be waiting forever:
“The best time to buy bitcoin was in 2009...”.
Don't be -- this guy
Watching Andreas Antonopoulos is a great start:
"Introduction to Bitcoin"
Playlists on Andreas own YT channel
Check out this great articles regarding Bitcoin's value:
"What Gave Bitcoin Its Value?"
"How do Bitcoins have value?"
"Why we value Bitcoin"
"Yes, Cryptocurrencies are Valuable"
Bitcoin ELI5
Bitcoin Guide
Bitcoin Resources
How to buy Bitcoin
Bitcoin Infographic
Bitcoin Reading List
Where to buy Bitcoin list
The Bitcoin Sticky FAQ's
Bitcoin Academic Research
Bitcoin 'Awesome Handbook'
Excellent 'Crypto 101' by stos313
Where to use Bitcoin list by Bitcoin-Yoda
Comprehensive Big-Picture info by Trace Mayer
Starter Guide "Bitcoin Complete And Ultimate Guide".
Who accepts Bitcoin? List of Companies, Stores, Shops.
Edit: Stay away from fake "Bitcoin" stuff like "btc", "Bitcoin".com (Bitcoin.org is the legit site), Bcash ("Bitcoin" Cash/BCH), "Bitcoin" Gold, etc.
submitted by domelane to Bitcoin [link] [comments]

Useful link list for beginners

At Christmas I gave my father a special present: A Ledger Nano S and a little bit of BTC, LTC and ETH. My father is familiar with the regular stock markets and has been investing as a hobby for decades. But in crypto currencies he's a newbie.
To make it easier for him to get started, I have put together a small list of links. And I thought this might also be interesting for other beginners.
Here we go.
Beginner guides
Basic guides for understanding BTC, ETH and ERC20 tokens:
 
Beginner guides and advices for investing/trading crypto currencies:
 
Wikis
 
Block Explorer
You will need these block explorers for checking transactions or addresses. Every currency has it's own block explorer.
For other crypto currencies just search for "block explorer COINNAME" in Google.
 
Crypto news sites
News Aggregator: https://coinspectator.com/
 
Community
The biggest and one of the oldest boards for crypto currencies. There are plenty of topics with all crypto related stuff: https://bitcointalk.org/
Just a few active subreddits for crypto currencies. But there is a lot more (every coin has its own subreddit):
Please keep in mind that these community driven boards are full of bullshit because everyone can register and write what he's thinking. But you will also find some gems and useful tips and infos there. The challenge is to filter out what's nonsense and what's useful.
 
Some other usefull websites
A list of all relevant crypto currencies with a lot of details (very useful): https://coinmarketcap.com/
Calendar for crypto related events: http://coinmarketcal.com/
Check if a coin is an ERC20 token: https://etherscan.io/tokens
Forecasts for some hot crypto currencies (Sometimes the newsletter is good and sometimes not): https://cryptonaire.com/
Dashboard with different tickers: https://cryptowatch.de/
Toolkit for technical chart analysis: https://www.tradingview.com/
Compare different crypto currencies (Similiar to coinmarketcap.com but they have more and other infos. Also about exchanges, wallets and so on.): https://www.cryptocompare.com/
Online portfolio tracker (useful for taxes): https://cointracking.info/
Hope this helps. :-)
submitted by melvindelacruz to CryptoCurrency [link] [comments]

[uncensored-r/CryptoCurrency] 20 Tools and Resources for Crypto Investors: Guide to how to form a winning strategy

The following post by arsonbunny is being replicated because the post has been silently removed and some comments within it have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7sw98b
The open modlog reason it was removed as reported by /CryptoCurrency was: Section 13 - Blacklisted Domains. Domain detected: cointracking.info.
The original post's content was as follows:
Lots of people have PM'd me asking me the same questions on where to find information and how to put together their portfolio so I decided to put a guide for crypto investors, especially those who have only been in a few months and are still confused.
Many people entered recently at a time when the market was rewarding the very worst type of investment behavior. Unfortunately there aren't many guides and a lot of people end up looking at things like Twitter or the trending Youtube crypto videos, which is dominated by "How to make $1,00,000 by daytrading crypto" and influencers like CryptoNick.
So I'll try to put together a guide from what I've learned and some tips, on how to invest in this asset class. This is going to be Part 1, in another post later I'll post a systematic approach to valuation and picking individual assets.

Getting started: Tools and resources

You don't have to be a programmer or techie to invest in crypto, but you should first learn the basics of how it functions. I find that this video by 3Blue1Brown is the best introduction to what a blockchain actually is and how it functions, because it explains it clearly and simply with visuals while not dumbing it down too much. If you want a more ELI5 version with cute cartoons, then Upfolio has a nice beginner's intro to the blockchain concept and quick descriptions of top 100 cryptocurrencies. I also recommend simply going to Wikipedia and reading the blockchain and cryptocurrency page and clicking onto a few links in, read about POS vs POW...etc. Later on you'll need this information to understand why a specific use case may or may not benefit from a blockchain structure. Here is a quick summary of the common terms you should know.
Next you should arm yourself with some informational resources. I compiled a convenient list of useful tools and sites that I've used and find to be worthy of bookmarking:
Market information
  • http://coinmarketcal.com - Keeping tabs of everything going on in crypto is tough, wouldn't it be great if there was some sort of calendar? Well this is a calendar of upcoming crypto events, whether its conferences, product releases, burns, exchange listings...etc. You can also filter by types of events, coins and month.
  • http://coin.fyi - Great for following the news related to a specific cryptocurrencies
  • http://cryptopanic.com - An aggregator of various crypto sites and news, filterable.
  • http://coinspectator.com - Another aggregator from over a 100 different sources of crypto news.
  • https://www.ccowl.com/news - News from major sites (CoinDesk, Cointelegram, Bloomberg...etc) on one page
  • http://cci30.com - Kind of like the S&P500 for crypto, its an index of the 30 biggest cryptocurrencies
  • http://eveningstar.io - this is basicall trying to be the Morning Star for cryptos
  • http://icotracker.net - I like this site for looking at what ICO are coming up
  • http://www.icoalert.com - Another good site for upcoming ICO tracking
  • http://icodrops.com - More ICO listings and they have a "hype" rating
  • http://bitcointalk.org - Probably the biggest crypto community, lots of Bitcoin old timers who have seen it all
  • Both Medium and Steemit have plenty of blogs to follow depending on what interests you within crypto
  • Telegram is the preferred chat platform, just stay away from PnD groups (same for Discord PnD groups)
Analysis tools
  • http://cryptowat.ch - Great charting tool owned by Kraken that gives you a pretty wide look at various cryptos across most major exchanges.
  • http://coinmonsta.io/metrics - Want to see what the most shilled coins are on Twitter? This ranking multiplies the number of tweets vs. sentiment estimate to arrive at a score.
  • http://onchainfx.com - A better version of coin market cap, has all sort of columns and you can add flags. Also I like their market segmentation filters.
  • http://www.sifrdata.com/ - Great visualizations of various metrics. I find their correlations to be very useful.
  • http://www.coingecko.com - includes useful information about crypto like the breakdown volume by fiat currency, social media stats, code repository stats..etc
  • http://www.tradingview.com/chart/ - the best charting site that I use for stocks, however it has plenty of major cryptos
  • http://www.iconomi.net/dashboard - basically forms different ETFs out of cryptos. Not a bad place to get ideas for your portfolio.
  • http://cointrading.ninja/correlation - See a matrix of price movement correlatiosn between various cryptocurrencies over various periods.
  • http://coinmarketcap.com - Useful for scanning the market, and finding the blockchain explorer and official website for each individual crypto. Their API is also quite useful for Excel based analysis.
  • http://icobench.com - Another ICO tracker which does nice summaries, shows teams, milestones, financials and gives a rating for each IC
  • http://cryptomaps.org - Visualization of price across different segments, primarily hashing functions and ICO release dates
  • http://solume.io - compares the number of Twitter mention increase decrease to price
  • http://www.badbitcoin.org - a list of all the known scam sites. Check this list before joining something.
Portfolio Tracking
  • Delta and Blockfolio are the major mobile apps, I personally recommend Delta.
  • For desktop I prefer to use a CoinMarketCap API Excel tracker that automatically draws live data from CoinMarketCap. Customize it to your own liking. There are also plenty of online tracking sites like AltPocket but I've never used them so can't recommend one.
Youtube
I generally don't follow much on Youtube because it's dominated by idiocy like Trevon James and CryptoNick, but there are some that I think are worthy of following:
  • Crypto Investor - A background in finance gives Crypto Investor a much more nuanced approach, and he is very insightful in terms of investor behavioral psychology. Listening to his negativity and criticism of parabolic price action in a sea of lambo chasing is refreshing.
  • CoinMastery - Carter Thomas takes on a rational mid-term to long term approach to investing in crypto, and has been a voice of reason many times.
  • DataDash - He's more focused on trading, but I still like him for his news summaries and overall decent content.
  • IvanOnTech - Brings a programmers perspective, goes through the Github and explains many programming issues with blockchains.

Constructing a Investment Strategy

I can't stress enough how important it is to construct an actual investment strategy. Organize what your goals are, what your risk tolerance is and how you plan to construct a portfolio to achieve those goals rather than just chasing the flavor of the week.
Why? Because it will force you to slow down and make decisions based on rational thinking rather than emotion, and will also inevitably lead you to think long term.

Setting ROI targets

Bluntly put, a lot of young investors who are in crypto have really unrealistic expectations about returns and risk.
A lot of them have never invested in any other type of financial asset, and hence many seem to consider a 10% ROI in a month to be unexciting, even though that is roughly what they should be aiming for.
I see a ton of people now on this sub and on other sites making their decisions with the expectation to double their money every month. This has lead a worrying amount of newbies putting in way too much money way too quickly into anything on the front page of CoinMarketCap with a low dollar value per coin hoping that crypto get them out of their debt or a life of drudgery in a cubicle. And all in the next year or two!
But its important to temper your hype about returns and realize why we had this exponential growth in the last year. The only reason we saw so much upward price action is because of fiat monetary base expansion from people FOMO-ing in due to media coverage. People are hoping to ride the bubble and sell to a greater fool in a few months, it is classic Greater Fool Theory. That's it. Its not because we are seeing any mass increase in adoption or actual widespread utility with cryptocurrency. We passed the $1,000 psychological marker again for Bitcoin which we hadn't seen since right before the Mt.Gox disaster, and it just snowballed the positivity as headline after headline came out about the price growth. However those unexciting returns of 10% a month are not only the norm, but much more healthy for an alternative investment class. Here are the annual returns for Bitcoin for the last few years:
Year BTC Return
2017 1,300%
2016 120%
2015 35%
2014 -60%
2013 5300%
2012...
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