Rya is a crypto designed to function as a stable, scalable and decentralized medium of exchange. By using a smart money supply solution based on p2p loans, the price of money will always be appropriate for the state of the economy.
Comply With the Law we're trying our best to completely comply with legal requirements. So, one of the main features of the BankDex project is its transparency and full domestic and global legal compliance. www.bankdex.io #SAM #bankdex #exchange #bankex #bitcoin #ethereum #BTC #decentralized
02-18 02:54 - 'You can now signup for the first regulated decentralized Bitcoin Exchange with europes first digital Security. Signup for early Access and referral Programm. Would be pity if you missed that, very huge project!' (nash.io) by /u/chilliwings removed from /r/Bitcoin within 7-17min
💰Pivot launches Project X to list on exchange. 150,000,000 PVT and 500,000 USD for bonus airdrop now! Bitcoin [BTC]’s birthday marks first decade of decentralization https://www.pivot.one/share/post/5bda0430cd5ee70329a9ae3b?uid=5ba411756c20cd5b1efe0f79&invite_code=BNOKNY
💰Pivot launches Project X to list on exchange. 150,000,000 PVT and 500,000 USD for bonus airdrop now! Bitcoin [BTC]’s birthday marks first decade of decentralization https://www.pivot.one/share/post/5bda0430cd5ee70329a9ae3b?uid=5ba411756c20cd5b1efe0f79&invite_code=BNOKNY
BitSquare is one of the many projects on Lighthouse. They're a decentralized bitcoin exchange built by volunteers. I was able to talk to one core team member and it was invigorating to see them working on a tool that isn't built for venture capital investment.
Was reading a post about uniswap and how each transaction on there costs $75 to join a liquidity pool. Figured eos is the perfect platform as this would maybe cost $.01 to buy some cpu from Rex. Are there any projects like uniswap, or any of the other ETH DeFi projects for that matter? Would love to get involved in them.
In September, this decentralized exchange (DEX) overtook Coinbase in trading volume:
A) UniswapB) AaveC) CompoundD) Both A and B Scroll down for the answer.
Ranking and September Winners and Losers
2020 Top 10 Rank Lots of movement this month: six out of the Top Ten changed positions in September. BCH climbed one from #6 to #5 and BNB made a big move from #10 to #6. Going the opposite direction were BSV, EOS, and Tezos, dropping one, two, and four places respectively. The big story though, at least for anyone who’s been watching crypto for a while, was the ejection of Litecoin from the Top Ten. In just 30 days, LTC fell five places from #7 to #12. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not has not held a spot in the Top Ten. Drop outs: after nine months of the experiment, 30% of the cryptos that started 2020 in the Top Ten have dropped out. LTC, EOS, and Tezos have been replaced by ADA,LINK, and most recently, DOT. September Winners – Winner, singular: BNB was the only crypto to finish in the green, finished up +25% for the month, and gained four places in the rankings. A very good month for Binance Coin. September Losers – Tezos was the worst performing crypto of the 2020 Top Ten portfolio, losing nearly a third of its value, down -31% for the month. LTC also had a bad month, losing -24% and dropping out of the Top Ten. Since COVID-19 has hammered the sporting world, let’s be overly competitive and pit these cryptos against each other, shall we? Here’s a table showing which cryptos have the most monthly wins and losses nine months into the 2020 Top Ten Crypto Index Fund Experiment: Wins/Losses ETH is in the lead three monthly Ws, followed by Tether and Tezos with two wins each. Even though it is up +79% since January 1st, 2020, BSV has the most monthly losses: it has been the worst performing crypto of the group four out of the first nine months in 2020.
Overall update – ETH maintains strong lead, followed by BNB. 100% of Top Ten are in positive territory.
Ethereum remains firmly in the lead, up +187% on the year. Thanks to a strong month for BNB and a weak month for Tezos,Binance Coin has overtaken XTZ for second place, and is now up +109% in 2020. Discounting Tether (no offense Big-T), EOS (+4%) is the worst performing cryptocurrency of the 2020 Top Ten Portfolio. 100% of the cryptos in this group are in positive territory.
Total Market Cap for the cryptocurrency sector:
The overall crypto market lost about $35B in September, ending the month up +85% since the beginning of this year’s experiment in January 2020. Despite a rough month, this is the second highest month-end level since the 2020 Top Ten Experiment started nine months ago.
Monthly BitDom - 2020 BitDom ticked up slightly this month, but is still lower than it has been for most of the year. As always, a low BitDom reflects a greater appetite for altcoins. For context, the BitDom range since the beginning of the experiment in January 2020 has been roughly between 57% and 68%.
Overall return on investment since January 1st, 2020:
After an initial $1000 investment on January 1st, the 2020 Top Ten Portfolio is now worth $1,536, up +56%. This is the best performing of the three Top Ten Crypto Index Fund Portfolios, but not by much: the 2019 Top Ten came in at +54% in September. Here’s the month by month ROI of the 2020 Top Ten Experiment, hopefully helpful to maintain perspective and provide an overview as we go along: Monthly ROI - 2020 Top Ten Even during the zombie apocalypse blip in March, the 2020 Top Ten has managed to end every month so far in the green (for a mirror image, check out the all red table you’ll find in the 2018 experiment). The range of monthly ROI for the 2020 Top Ten has been between a low of +7% in March and high of +83% in August. So, how does the 2020 Top Ten Experiment compare to the parallel projects?
Taken together, here’s the bottom bottom bottom line for the three portfolios: After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, the combined portfolios are worth $3,340 ($238+ $1,538 +$1,564). That’s up about +11% for the three combined portfolios, compared to +31% last month. Here’s a table to help visualize the progress of the combined portfolios: Combined ROI - UP +11% That’s a +11% gain by buying $1k of the cryptos that happened to be in the Top Ten on January 1st, 2018, 2019, and 2020. But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (Big L, no pressure, but if you don’t claw yourself back in the Top Ten by January 2021, you’re out of the club). Let’s take a look: Three Year Club At this point in the Experiments, Ethereum (+104%) would have easily returned the most, followed by BTC (+77%). On the other hand, following this approach with XRP, I would have been down nearly a third at -31%. So that’s the Top Ten Crypto Index Fund Experiments snapshot. Let’s take a look at how traditional markets are doing.
Comparison to S&P 500
I’m also tracking the S&P 500 as part of my experiment to have a comparison point to traditional markets. The S&P slipped a bit from an all time high in August and is now up just +5% in 2020. Over the same time period, the 2020 Top Ten Crypto Portfolio is returning about +56%. The initial $1k investment in crypto is now worth about $1,563. That same $1k I put into crypto in January 2020 would be worth $1050 had it been redirected to the S&P 500 instead. That’s a $513 difference on a $1k investment, one of the largest gaps in favor of crypto all year. But that’s just 2020. What about in the longer term? What if I invested in the S&P 500 the same way I did during the first three years of the Top Ten Crypto Index Fund Experiments? What I like to call the world’s slowest dollar cost averaging method? Here are the figures:
$1000 investment in S&P 500 on January 1st, 2018 = $1260 today
$1000 investment in S&P 500 on January 1st, 2019 = $1350 today
$1000 investment in S&P 500 on January 1st, 2020 = $1050 today
So, taken together, here’s the bottom bottom bottom line for a similar approach with the S&P: After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660. That $3,660 is up +22%since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios over the same period of time. That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios. For those keeping track or unable to see the table above: that’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P back in June.
September saw losses for both traditional and crypto markets, but crypto got hit harder. What can we expect for the rest of 2020? The Neverending Year is entering the final quarter and is not finished with us yet: a lot can and will happen in the remaining months. More volatility is no doubt to come as we enter the final stretch of a truly unpredictable and exhausting year. Buckle up. Stay healthy and take care of yourselves out there. Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2019 Top Ten Experiment follow up experiment.
Ultimate glossary of crypto currency terms, acronyms and abbreviations
It has been about 10 years since Bit"coin" was created and we have achieved basically nothing. No crypto is money yet and there are basically zero important dapps. It is very hard to buy groceries with crypto and they will probably not accept a very volatile token as payment. So what is so great about blockchain/crypto? Why do you think it has a future? What kinds of problems do you expect to be solved?
Hi friends, i want to tell you about UniLend project which will be listed soon. First of all i want to tell you, Unilend team announced that CertiK has audited UFT smart contract. The blockchain security pioneer is one of the most advanced auditors in whole-chain, smart contracts, and VAPT verification in the scene. Certik's best-in-class cybersecurity experts have delivered end-to-end security audits for over 220 clients, including over 118k lines of code, and now UFT smart contracts as well. Here is the announcement by the CertiK: UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts. UniLend Features *Permissionless listing: Any ERC20 token will be able to list without any entity controlling the listing process, making UniLend’s features accessible to every token. *Lending & borrowing: Users have the capability to unlock their token’s functionality for lending to receive an interest rate and for borrowing by paying an interest rate. *Trading: A corresponding trading pair will also operate on UniLend's platform to include decentralized spot trading functionality for platform users. *Governance: The protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus. *Liquidity: By providing liquidity for asset trading and loans on Unilend's platform, users are able to receive fees in proportion to their liquidity pool stake. *Native Utility Token: The native utility token of UniLend will be UFT, Unilend Finance Token. The token will have multiple use cases for governance, platform utility, and much more. How is UniLend different to existing DeFi protocols? Existing DeFi solutions have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap. However, the current platforms such as Compound, Aave, Maker DAO, and many more, support less than 30 assets.Some protocols offer lending and borrowing with a limited set of tokens while others offer the freedom to trade any ERC20 assets but neglect the lending and borrowing aspect. UniLend is bridging that gap by combining the decentralization aspect of enabling any ERC20 to be utilized as collateral for lending & borrowing whilst providing the flexibility for users to also trade their assets in-platform. Ultimately, UniLend aims to unlock the full potential of digital assets for their owners. Investors UniLend Successfully Raises $3.1M in Seed and Private Sale Rounds Amid Overwhelming Strategic Investor Support Unilend funding rounds attracted the attention of some of the industry’s heaviest hitters, including Woodstock Fund, Signal Ventures, 3Commas, Danish Chaudhry (Head of Bitcoin Exchange), Jay Putera (Partner at CryptoBriefing ), TRG Capital, BTC12 Capital, AU21 Capital, Youbi Capital, TomoChain, Bidesk, Bibox, Tenzor Capital, and Sandeep Nailwal (Co-founder of Matic Network). Tokenomics *Platform: ERC20 *Total Supply: 100,000,000 UFT *Initial Circulating Supply: 7,777,778 (7,78%) *Seed Round Price: $0,07 (25% released after 6 months, 25% after 12 months, 25% after 15 months and 25% after 18 months) *Seed Round Hardcap: $700,000 (reached) *Private Round Price: $0,12 (25% release at TGE, 25% after 3 months, 25% after 6 months and 25% after 9 months) *Private Round Hardcap: $2,400,000 (reached) *Public Sale: Interest form is cloesed,lottery done with partneeship Chainlink VFR, KYC process ongoing. (Hardcap: $150,000, oversubscription) There will be a voting for Bithumb Global Listing on October 15th - 12:00 to 16:59 (UTC+8) Conclusion UniLend protocol is working to create a new niche in the market which has been neglected and untapped by current solutions in the DeFi space. I believe team efforts will create a level playing field in the market by enabling every token to be a part of the growing DeFi ecosystem.
A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong. In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things. What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do. You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us. At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming. Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born. Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized. Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung. The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance. Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.
The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community. The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.
The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork. As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks. The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.
The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.
Maintain and enhance core Sia software
Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest. Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release. Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer. A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software. With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code. Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire. Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above. As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.
Support community services
We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours. Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.
Ensure easy acquisition and storage of siacoins
Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.) Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion. Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants. Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.
Protect the ecosystem
When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary. The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU. In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.
Drive adoption of Sia
Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers. In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.
The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months. On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well. The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets. Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses. Addendum: Hardfork Timeline We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
Addendum: Inflation specifics The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve. Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
*This is not financial advice or suggestion. Just my opinion* Legend: "S" - super "A" - really good "B" - good "C" - has potential "D" - keeping an eye on it "E" - coins to gamble on Digibyte [DGB]: "S" I mentioned this coin a few times already. It's because DGB is a true successor of Satoshi's philosophy. It's the purest coin in the market. DGB is the "people's money". Dash [DASH]: "S" DAO and masternodes are the future. Satoshi had a vision of altruism. But we cannot expect people to be altruists and lend their infrastructure for the wellbeing of others. The community is just not strong enough to do so. Masternodes are a meritatory focused system to reward those who are willing to lend their infrastructure to be a node in the network. It's a win-win situation for the network and the node owner. Besides acting as a node, it allowed the development of some other features like optional privacy and instant payments. Monero [XMR]: "S" When we think about cash, one of its best features that come to mind is privacy. Monero is probably the most famous privacy coin. Transactions are private by default. Another great thing that Monero is taking care of is the prevention of mining centralization. Being able to mine a coin with a CPU is probably one of the main concepts we forgot when it comes to allowing every person to participate in the network. Vechain [VET]: "A" If you think about the use-cases of blockchain, you cannot forget how impactful it will be for supply chains. So far, Vechain is one of the best solutions. It's also the most adopted for now. Nexus [NXS]: "A" NXS is a coin that deserves to be in the "S" category. But there's still a long way to go for it to achieve that rank. It's a forward-thinking project. They understood how far decentralization has to go to achieve the real meaning of the word. They even though of the quantum computer problem. Fast database, satellites, quantum-resistant, decentralized internet, and user-friendliness are just a few keywords they focus on while developing the coin. Bitcoin [BTC]: "A" I'm somehow ashamed to put Bitcoin this low. But let me explain why I did so, while still keeping it in my top list. First of all, I have to say: "Thank you Satoshi!". Bitcoin got this low on my list because I have a feeling too many powerful people got their hands on it. Some got in for the right reasons, while others are not so benevolent. Bitcoin is not "people money" anymore. IMO (very very humble opinion), Bitcoin was a demo project. A very successful demo project. Satoshi gave us an open-source code as a gift to do with it whatever we want. Blockchain is the gift he gave us, not Bitcoin. And we (the community) did it. Bitcoin became a brand. More people heard of the word "Bitcoin" then "cryptocurrency". On the bright side, Bitcoin is the biggest network in the world. While this is true, hodling some is a good idea. Litecoin [LTC]: "B" At its time, not many understood what Bitcoin is, and what potential blockchains as technology have. Imagine how forward-thinking was Mr. Charlie Lee. He created the first altcoin. Technology-wise, LTC is a different coin. Mr. Lee didn't just copy-paste the code and name it differently. In my eyes, LTC will always be the "crypto silver" making it a good store of value and medium of exchange. Chainlink [LINK]: "B" I believe the solution they are going to provide is too important for the crypto space to ignore it. Oracles are the future, but until we don't see real use-case, it will remain listed as "B". Another reason that doesn't give him the right to be higher in the list is that it's an Eth token. Dogecoin [DOGE]: "C" When you think about content creation, you'll see it's highly centralized. Creators depend on the platform's policies and bread crumbs those platforms leave them even after people click on ads. One of the solutions to reward good creators is to make a fast and easy to use tipping system. The first thing that crosses your mind are probably tokens. But imagine a blockchain of its own that enables fast and cheap transactions. Yes, DGB is the way to go. But there is a coin with higher inflation which you don't want to hold for a long time, but spent around to reward other's work that helped you in some way or you enjoy reading or watching. Dogecoin has the potential of becoming the chosen one for this exact purpose. Verge [XVG]: "C" When Wikileaks added BTC as a donation medium, Satoshi politely asked to remove it because we were poking the hornet's nest. I don't remember he's exact words, but this was the context. A similar thing happened to Verge. It was like the flight of Icarus. Pornhub listed it as an optional payment method drawing a lot of attention to it. Verge was not mature enough for that kind of exposure. After that, it suffered an attack, and people gave up on it. But if you look closely at the technology behind it, you'll see it's a really good coin. It offers privacy differently then Monero does. If you already haven't, I strongly encourage you to read about Verge's tech. You'll be amazed. "D" coins: Polkadot [DOT] Ethereum [ETH] Electroneum [ETN] Cardano [ADA] Siacoin [SC] "E" coins: Theta [THETA] Zilliqa [ZIL] Decred [DCR] Golem [GNT] Enjin [ENJ] Zcoin [XZC] Energi [NRG] Thank you Satoshi!
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
Hi friends, i want to tell you about UniLend project which will be listed on October 15th. UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts. UniLend Features *Permissionless listing: Any ERC20 token will be able to list without any entity controlling the listing process, making UniLend’s features accessible to every token. *Lending & borrowing: Users have the capability to unlock their token’s functionality for lending to receive an interest rate and for borrowing by paying an interest rate. *Trading: A corresponding trading pair will also operate on UniLend's platform to include decentralized spot trading functionality for platform users. *Governance: The protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus. *Liquidity: By providing liquidity for asset trading and loans on Unilend's platform, users are able to receive fees in proportion to their liquidity pool stake. *Native Utility Token: The native utility token of UniLend will be UFT, Unilend Finance Token. The token will have multiple use cases for governance, platform utility, and much more. How is UniLend different to existing DeFi protocols? Existing DeFi solutions have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap. However, the current platforms such as Compound, Aave, Maker DAO, and many more, support less than 30 assets.Some protocols offer lending and borrowing with a limited set of tokens while others offer the freedom to trade any ERC20 assets but neglect the lending and borrowing aspect. UniLend is bridging that gap by combining the decentralization aspect of enabling any ERC20 to be utilized as collateral for lending & borrowing whilst providing the flexibility for users to also trade their assets in-platform. Ultimately, UniLend aims to unlock the full potential of digital assets for their owners. Investors UniLend Successfully Raises $3.1M in Seed and Private Sale Rounds Amid Overwhelming Strategic Investor Support Unilend funding rounds attracted the attention of some of the industry’s heaviest hitters, including Woodstock Fund, Signal Ventures, 3Commas, Danish Chaudhry (Head of Bitcoin.com Exchange), Jay Putera (Partner at CryptoBriefing.com), TRG Capital, BTC12 Capital, AU21 Capital, Youbi Capital, TomoChain, Bidesk, Bibox, Tenzor Capital, and Sandeep Nailwal (Co-founder of Matic Network). Tokenomics *Platform: ERC20 *Total Supply: 100,000,000 UFT *Initial Circulating Supply: 7,777,778 (7,78%) *Seed Round Price: $0,07 (25% released after 6 months, 25% after 12 months, 25% after 15 months and 25% after 18 months) *Seed Round Hardcap: $700,000 (reached) *Private Round Price: $0,12 (25% release at TGE, 25% after 3 months, 25% after 6 months and 25% after 9 months) *Private Round Hardcap: $2,400,000 (reached) *Public Sale: Will be done early next week, Hardcap $150,000, interest form (open for 24 hours) + whitelist (lottery) + sale FCFS - Fixed Personal Cap: 3 ETH (Public Sale form is open now) UFT token will be listed on October 15th on Uniswap. **Conclusion*\* UniLend protocol is working to create a new niche in the market which has been neglected and untapped by current solutions in the DeFi space. I believe team efforts will create a level playing field in the market by enabling every token to be a part of the growing DeFi ecosystem. WebsiteTwitterTelegramLinkedinMediumReddit
Hi fellas, this is my first ever post on privacy. I recently wrote about the existence of an open source DLT-based decentralized marketplace with a mission to enable free and private trade of goods and services. The marketplace description was posted on another subreddit but I think it's worth posting the description here too. Tbh I cant think of anything that qualifies more as "The intersection of technology, privacy, and freedom in a digital world" I hope my own description of the marketplace and its technology bellow will fuel your interest to read more about it. My even bigger hope is that some of you will decide to become first-hand beta testers as soon as the upcoming v3.0 of the marketplace hits the testnet (eta: a few weeks). You can also use the existing version (currently 2.3.5) of the marketplace to buy or sell products on the publicly accessible single community market there (or just play with it). The marketplace: It is called the Particl Marketplace and its ground breaking V3.0 is set to be released after 3 years of hard development work. The V3.0 will be the first version aimed at a wider public (normies and not only tech geeks). It will allow anyone to create easily decentralized personal storefronts or community markets or simply buy/sell goods on existing markets. The user-created markets/storefronts on the marketplace can be public if the access key is publicly announced on the Particl network or absolutely invisible to anyone that doesn’t know the access key (held by the creator). This is an intentional privacy feature and simply put, if you dont have the market access key (essentially a decryption key) there is absolutely no way to see/detect that some market exists. The marketplace is private by design and decentralized, with no middlemen or intermediaries whatsoever. The trades are protected by a two-way automated escrow via smart-contracts that de-incentivize and penalize dishonest behavior on both sides. In particular, the buy-flow forces the buyer to deposit 1x item value + payment and the seller 1x item value (+ sends item) into a common smart contract. If the buyer receives the product/service and its all good, then he unlocks the escrow so both can get their 1x item value deposits back and the seller receive his payment. The marketplace takes no sales commissions from the storefronts/markets and charges only a tiny listing fee (<0.01$) to prevent product listings spamming. All the marketplace generated fees go to the staking nodes that provide the hardware infrastructure for the p2p network to operate. The network nodes can be public or you can run them as Tor hidden services. The technology: The Particl Marketplace is crypto-agnostic and currently supports payments in BTC, PART, ZCoin (XMR, DAI, NIX, USDC, USDT are next in the pipeline and many more to come). It uses as a settlement layer its native coin PART and own blockchain, which is an up-to-date Bitcoin codebase with added privacy features like CT, RingCT (up to 32 mixins), Stealth addresses, etc. These privacy features are used in combination to keep the financial data, like escrows and transactions, private and most importantly un-linkable to the actual market buys/sells. For the users and markets related data exchange like posted listings, buy/sell flows, encrypted user communication, built-in cryptocurrency exchange, etc, the marketplace uses a DSN, currently its a custom Bitmessage variant called SMSG, which allows metadata stripped encrypted p2p data exchange (no sender, no receiver) Last but not least the marketplace desktop app (Particl Desktop) has a built-in option for using the Tor network via proxy. The important people: The cypherpunks behind Particl Marketplace have been OGs freedom advocates and pioneers in the privacy DLT field. For example, they were the first ever to implement features like RingCT, Bulletproofs, PoS, cold staking, etc on a Bitcoin codebase. Their privacy features implementations have been audited successfully by several respectable academics and security R&D providers, like QuarksLab. The team behind the project has been so far focused on building without any marketing/awareness efforts and thus have remained intentionally in the shadows. The latter is planned to change with the v3.0 release. One of the steps towards that will be the initiation of several long-planned awareness campaigns, like the Vendor Onboarding and Outreach Program, the Particl Academy (an easy to understand and learn about the technology portal) and many more. Me: I am a passionate freedom and privacy advocate that discovered the project 1.5 year ago and since then has become a member of their small but like-minded community ([email protected]/discord). My personal belief is that the Particl Marketplace provides a game-changing/breaking usecase to the world. At the minimum, due to the open source nature of the project, it will be a proof of concept that is bound to shift the global eCommerce paradigm.
A decentralized exchange is global service that is available to any member of the free internet, at every corner of the globe at all times of the day. This ensures transactions and settlement within seconds. Also, there is no need for brick and mortar institutions. This means that the cost of transactions can be 10x, 100x or even 1000x less than what they are with the traditional system ... Traders can exchange bitcoin for national currencies. Additionally, Bisq does not require identification details. The platform is open source and developers from across the world contribute to its development. Bisq implements Tor routing and local computing to make sure the platform is decentralized. 7.Binance DEX. The better part of this list includes exchange platforms deployed on the ... Yearnify Finance is a community-centered DeFi-project, modeled to take the successful features of Yearn Finance (YFI), and improve upon them, we aim to bring the true value of yield farming ... Uniswap is THE decentralized exchange (DEX), with a trading volume and fees leaving all other DEXs behind in the dust, and even competing with the top CEXs! Its greatest strengths are permissionless listing, solid analytics, excellent UI/UX, low slippage and fees. Virtually, every trade-worthy ERC-20 token is listed on this great platform, which for the last seven days (Sep 18 – Sep 25) has ... This new token exchange project is built on Ethereum and aims to provide customers with global, peer-to-peer trading with no intermediaries and zero trading fees (!). Utilizing the so-called “Swap protocol,” AirSwap focuses on doing ERC20 trades. AirSwap unveiled a new data aggregator product back in summer 2019, a move that shows the firm is looking to stand out in the market ...
Hello everyone and welcome back to Crypto News TV! Today we are going to be talking about Streamity and their Decentralized Cryptocurrency & Fiat Exchange utilizing Smart Contracts. This project ... How will markets transition from centralised exchanges to decentralised exchanges (LocalBitcoins, cash ATMs, Bisq, cross-chain atomic swaps)? Could fiat-pegg... Testing the first decentralized Bitcoin exchange. North Korea / The Lies and Truth of Kim Jong Un / How People Live (2019) - Duration: 52:48. The People Recommended for you EOSfinex plans to be the World's first high performance decentralized crypto exchange combining the speed and scalability of EOS.IO software with Bitfinex’s industry leading experience. As the token space continues to develop, the need to exchange these assets will be compounded. 0x protocol will act as a critical piece of infrastructure for the token economy, allowing Ethereum ...