Bitcoin and Blockchain: Security and Privacy DeepAI

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

ANN - RENESIS - LTME (Long Term Mining Evolution)

ANN - RENESIS - LTME (Long Term Mining Evolution)
https://preview.redd.it/wulcw7lgbhb11.png?width=500&format=png&auto=webp&s=c3aca3a98e0b699d88e99acee4a5dc236c8b39e0
LTME ( Long Term Mining Evolution) With ASIC Resistance Promise hav0k, The Renesis Core

Renesis Specifications:

Algorithm: Renesis Ticker: RESS Whitepaper v1: https://github.com/renesisgroup/whitepapeblob/masteRENESIS-paper.pdf Block Time: 2 minutes Block Reward: Variable. Refer to whitepaper for reward structure. Halving: Yes Doubling: Yes Mined Confirmations PoW/PoS : 60 TX Confirmations: 10 Minimum RX confirmations to forward: 1 Total Coin Supply: 350M for Proof of Work PoS Cap: No PoS Stake Reward: 10% per year Pre-mine: Yes ( First 100 Blocks mined on low difficulty with CPUMiner) Bounties Available: Yes - From Premine Rewards Available for Community Developers: Yes, from Premine CPUMiner Available: Yes - Windows binary & source. NVIDIA GPUMiner Available: Yes ( Reward for fair release of GPUMiner is paid! 50,000 RESS ) AMD GPUMiner Available: No ( Reward for fair release of GPUMiner is > 12,000 RESS ) Renesis New Logo Design Competition: Yes ( Reward of 2000 RESS ) Renesis QT Wallet Theming Competition: Yes ( Reward of 5000 RESS ) Renesis V2 Static Website Design Competition: Yes ( Reward of 7000 RESS ) Renesis public Pool addition reward: Yes (10000 RESS) - First 3 Pools. Renesis Node Hosting: Yes ( Reward of 1000 RESS offered for 1 month of hosting ) Translation Bounties: Yes ( Reward of 500 RESS per translation posted ) Social Media Bounties: Yes ( Connect with us on our channels for information ) ICO: No - Bitcoin Talk ANN for everyone to mine starting 101 block Masternodes: Planned MainNet P2P port: 9775 MainNet RPC port: 9774 TestNet P2P port: 19775 TestNet RPC port: 19774
Renesis Development Team : hav0k - 2 developers Group : The Renesis Group ( Visit www.renesis.io for profiles ) - 7 members Web Site: http://www.renesis.io Block Explorers: http://tx.renesis.io - https://protopool.net/exploreRESS Reddit: https://www.reddit.com/Renesis/ Connections: Discord, Telegram, Slack ( Visit www.renesis.io to connect ) Will have web wallet: No - We believe coins should be safe in your wallets not online. Pools: To be announced after announcement. Exchanges: To be announced.

Pools:

https://cryptopool.party 10000 RESS Reward TX : http://tx.renesis.io/address/RVMNvHD3DFH1CZ9JVijFxiZgKcPLBpteYh
https://protopool.net 10000 RESS Reward TX: http://tx.renesis.io/address/RATQNUpMH7puoByrkBBUWiBVJowno6bGPz
http://www.tera.tn/ 10000 RESS Reward TX: http://tx.renesis.io/address/RFUkDC5dyRQZhH3GkrAhnAUNNQ2tZbTt7w

Nodes:

addnode node1.renesis.io addnode node2.renesis.io addnode node3.renesis.io addnode node4.renesis.io addnode node5.renesis.io ( Node by CryptoHobo. 1K RESS every month . TXID : 1e7a332788bceb23438b783dac172c853804d51443f43a1d68b378447981059f - 22 July 2018 addnode i.crashed.online addnode he.crashed.online addnode it.crashed.online addnode she.crashed.online addnode renesisckko455xx.onion add ( Tor Node )
Terms & Conditions for GPUMiner Releases : Developers must release the mining software + source after brief testing to Renesis Group to claim their reward. The group will immediately upload the GPUMiner with sources on github after mining 2 test blocks and will provide proof to community. If GPUMiner software is released directly to the community then it would fair but there will be no reward for software developers.

Mining:

At the time of announcement, you can mine solo until pools become available. Download the CPUMiner binary or source from github with a wallet https://github.com/renesisgroup/cpuminer-release. Place the renesis.conf in your wallet data directory and (re) start wallet. Run start.bat file inside CPUMiner bin folder to mine Renesis. You can edit the start.bat file to edit the number of threads for mining. If you wish to mine on a pool then use the poolmine.bat file.
Note: Please be advised that the cpuminer.exe can show up as a virus on Windows just like almost all mining software. You can be assured it is not and is labelled as coin miner, CpuMiner (PUA) or malware. Refer to virustotal report here https://www.virustotal.com/#/file/1c90ca293dc016f0d8663f7bab55b5def8f484c21b3dac3dae6f81d0166cc99e/detection . You can safely verify your Claymore and EWBF CUDA miners at virustotal and they will give similar results. If you feel that it has a virus then please do not mine. Virustotal scan for Windows wallet is : https://www.virustotal.com/#/file/4cc5d6977566fc7e254744626d0783b1fc2d1aab15d72a5137c99ef0e91eee46/detection .For questions related to GPUMiner releases, please ask fellow miners or their respective developers when their releases become available for download.
UPDATE: CCMINER Download : https://github.com/renesisgroup/ccminer-renesis Reward of 50000 RESS paid to user A1 on Discord : http://tx.renesis.io/address/RVmFpemzMtbjhG16bjQTGEWv3sTgRVuzWm
Special thanks to mrM4D for his guidelines on CPUMiner build. Cheers to ocminer, mrM4D and Epsylon3 Greets to: SCRIV, RavenCoin for their game changing innovations and ASIC resistance commitments.

Roadmap:

Phase 1
Renesis Release Development - done CPUMiner Development - done Generate the premine - done Announcement - Underway Community Developers - 3 required and backed by funding from premine. Update: 1st Dev joined the dev team GPUMiners for AMD - Awaited and backed by rewards for fair release by developers. Masternodes Solution - TBA by developers and community consensus and backed by rewards from premine. ASIC Survey - Planned Rensis Hash Enhancement - Planned. TBA under phase 2 or after ASIC Survey Renesis Holdings Fund - Planned
Phase 2 - Next
Good things coming here =) Real use case 1 - Planned Real use case 2 - Planned To be announced after completion of Phase 1
Phase 3 - Planned
Online Gaming - Planned
Phase 4 - Planned
To be announced after completion of Phase 3
submitted by dev_hav0k to Renesis [link] [comments]

The Strange Birth & History of Monero, Part I: WTF is Bytecoin?

If you are going to do large scale speculation on Monero as a major future currency you need to do a lot of reading and draw your own conclusions. You should never 'invest' in something you don't feel like you understand as thoroughly as you possibly can.
Fortunately, bitcointalk still has the creation of Monero nicely preserved for us to peruse at our leisure. I feel like anyone who is considering owning a significant amount needs to read every post from the initial announcement/discovery of Bytecoin, through the decision to fork and create BitMonero, to the eventual takeover by our current devs to "Monero". You will see a lot of oddities and scenic posts along the way.
Just be careful and don't stare too deeply into the canyon, even if we give you a glass walkway to observe it with: it's very deep.
I'll post a few shortcuts of interest to get you started, and I may update this list a few times so don't mind it if it gets larger. You are welcome to post your own scenic shortcuts in the comments. Today I want to focus on the Bytecoin announcement topic, and look at some of the notable posts there that led to the discovery of the massive premine and the decision to create a Bytecoin fork.
Welcome To Bytecoin, a revolution in digital currency https://bitcointalk.org/index.php?topic=512747.msg5661039#msg5661039
Notable comments in this thread: -2: "I have deja vu, like it was with bitcoin." (https://bitcointalk.org/index.php?topic=512747.msg5672781#msg5672781)
-25: "...according to the BCN website it was launched as Bytecoin about 1.5 years ago (Jul,2012)" (https://bitcointalk.org/index.php?topic=512747.msg5875713#msg5875713)
-90: "Very interesting coin. But two years without official exchange?" (https://bitcointalk.org/index.php?topic=512747.msg5981866#msg5981866)
-105: "can someone tell me how many coins are already in existence out of the 184billion?" (https://bitcointalk.org/index.php?topic=512747.msg6010395#msg6010395)
-106: "I don't really get it... So who mined it before? There are many references to "community" on bytecoin's page - where exactly is this community? On wiki there is reference to mailing list... But no link to it." (https://bitcointalk.org/index.php?topic=512747.msg6011193#msg6011193)
-115: "Does anybody know somebody who is in the BCN community from the very beginning? " (https://bitcointalk.org/index.php?topic=512747.msg6020221#msg6020221)
-116: "I don't. They are like a secret society." (https://bitcointalk.org/index.php?topic=512747.msg6020501#msg6020501)
-144: "So if there's 150 billion coins in circulation, then more than 80% of the total supply has been mined already. What happens when block reward drops to zero? Will there be a perpetual debasement to keep paying miners?" (https://bitcointalk.org/index.php?topic=512747.msg6043629#msg6043629)
-159: "are you involved in this project?" [to thankful_for_today] (https://bitcointalk.org/index.php?topic=512747.msg6050400#msg6050400)
-160: "I would like to. I've downloaded code from githab and it behaves bad" [thankful_for_today] (https://bitcointalk.org/index.php?topic=512747.msg6050664#msg6050664)
-167: "More and more i think this project was only done for research and was never mentioned to be used as a "real" crypto currency. I found some shady references by a group called bitcoin of things." [x0rcist, who continues to make some stunning insights for the rest of the thread] (https://bitcointalk.org/index.php?topic=512747.msg6053502#msg6053502)
-183: "Wow, this thread has bursted during last days. I feel the whole story is getting more weird with each day. Has anybody tried figuring out anything at Cryptonote forum? I'll be digging through it today." (https://bitcointalk.org/index.php?topic=512747.msg6066456#msg6066456)
-203: [x0rcist solves a pgp hidden message in an associated onion site] (https://bitcointalk.org/index.php?topic=512747.msg6089531#msg6089531)
-215: "I did some calculations about emission too. Here are details:
columns: - % emitted coins - block number - number of coins emmited
-> 2012, July 5.00029% 13446 9223904354 10.0005% 27620 18447646972 20.0007% 58497 36894821466 30.0011% 93503 55342193586 40.0015% 133915 73789671290 50.0017% 181712 92236877088 60.0019% 240211 110683937917 70.0021% 315631 129131083278 80.0022% 421932 147578077748 81.0023% 435380 149422786035 82.0023% 449556 151267574552 -> we are somewhere here 83.0023% 464542 153112285872 84.0024% 480437 154957005006 85.0024% 497358 156801686510" [thankful_for_today calculates exactly how many coins have been mined up until that point, April 8th, 2014] (https://bitcointalk.org/index.php?topic=512747.msg6123624#msg6123624)
-216: https://i.imgur.com/o7MQPHc.png [x0rcist shows a graph detailing that information] (https://bitcointalk.org/index.php?topic=512747.msg6124035#msg6124035)
-217: "I'm surprised someone hasn't started a clone for a fairer distribution and active development." [future Monero developer eizh finally drops the truth bomb] (https://bitcointalk.org/index.php?topic=512747.msg6126012#msg6126012)
-218: "If you read the last few comments you see that thankfull_for_today is busy with this. Also this coin was written from scratch so it needs time for developing a clone as its not based on bitcoin's codebase and there is not much documentation about it (yet)" (https://bitcointalk.org/index.php?topic=512747.msg6126244#msg6126244)
-219: "Yes, I confirm. I'll post parameters and other details soon." [thankful_for_today] (https://bitcointalk.org/index.php?topic=512747.msg6126287#msg6126287)
-221: "That's great. How well do we understand this protocol? Something being hidden for nearly 2 years despite having such a fundamental advantage seems unlikely. It almost seems like a hoax. I'm really hoping otherwise and look forward to your work." [eizh] (https://bitcointalk.org/index.php?topic=512747.msg6126562#msg6126562)
-222: "Who would develop a hoax like this from scratch and keep it under the radar for 2 years? To me its clear they first wanted to get the technology out of Beta before presenting it to the world. There are forces in the world that dont want things like this being developed in the first place and this pressure can be avoided by hidding it.
ps. take a look at the source code and be baffled about how clean this code is compared to bitcoin" [x0rcist] (https://bitcointalk.org/index.php?topic=512747.msg6126915#msg6126915)
-223: "i received the message from a man who wants to buy all my BCN he asked me to add a buy order for 100,000,000 BCN to spreadsheet. looks strange." [user abit2slo encounters someone trying to wrap up the Bytecoin launch and bury it, but that's my speculation] (https://bitcointalk.org/index.php?topic=512747.msg6127073#msg6127073)
-231: "Thats Pink Floyd - Another Brick in the Wall
Also in the source this was added <--! Part2 13:4 ,5 ,16:3 ,16 ,19:1 ,15 ,22:3 ,11 ,5:7, 14, 10:5 " [x0rcist comments on a puzzle posted on the Bytecoin website, one which he would later solve in a future comment] (https://bitcointalk.org/index.php?topic=512747.msg6128013#msg6128013)
-246: "are you a cryptographer?" [abit2slo impressed with x0rcist's solution to the encoded message, included for the lulz] (https://bitcointalk.org/index.php?topic=512747.msg6129764#msg6129764)
-263: "If it can deliver on its promises this is the most innovative development since bitcoin. Bitcoin has a four year reward halving schedule, and by the first halving, the bitcoin economy was at least somewhat fairly developed. This one seems to be more like one year for halving, and maybe there is development in the dark web somewhere, but unless we can see some evidence of it or people buying 100m coins to arbitrage between the dark web and the light web (which would be evidence of it) turns out to be real, then we have a situation that looks a lot like a premine (perhaps unintentional).
I can see an argument for shortening the schedule relative to bitcoin, but going to one year is probably taking it too far. BTW, it is simple to slow down the schedule, just increase the denominator in the reward formula. If you speed up the blocks to a minute, which I'm not sure is necessarily a good idea, then you need to double the denominator to keep the schedule the same.
I would contribute this effort if I'm impressed with the team and vision. PM me when you have more in place." [A new challenger, smooth, has entered the arena, especially considering what he finds at https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8] (https://bitcointalk.org/index.php?topic=512747.msg6135077#msg6135077)
-267: "If we're going to create a bcn derivative, I think we need to have a serious community discussion about possible changes and improvements in the next iteration. For example:
-275: "Adam Back is famous figure in cryptography and Bitcoin’s world and he began in 90s before Satoshi. And looks as he knows about Cryptonote a long-long time." (https://bitcointalk.org/index.php?topic=512747.msg6141617#msg6141617)
-285: "i don't support this idea with forking. we are free to do it, but should we? adam back said every cryptocoin "need a reason for existence; but to make you rich is not a reason" the fact that we are a little bit late to this train is not a reason at all too. cause there will always be somebody who is late." [abit2slo questions the wisdom of the impending fork] (https://bitcointalk.org/index.php?topic=512747.msg6146155#msg6146155)
-286: "The question is whether there actually is a train.
If it is just a few people holding the existing coins but no real development of a market, that is nothing but a preminel which is the worst case of 'to make you rich.' If the coin actually has significant adoption, value and usage (even if not apparent right now), then I agree with what you said." [smooth counters] (https://bitcointalk.org/index.php?topic=512747.msg6146256#msg6146256)
-288: "Showing up late is one thing -- most people on this forum were "late" to BTC relative to its 5-year history. But this wasn't even made available to the general public until 80% of the supply was mined. That's qualitatively different and delegitimizes it in my eyes. It's also just plain bad for market confidence because the history is unknown." [eizh chimes in as well] (https://bitcointalk.org/index.php?topic=512747.msg6146313#msg6146313)
-291: "Hi!
Here is an announcement of new currency based on CryptoNote with a list of things (still incomplete) I plan to change: https://bitcointalk.org/index.php?topic=563821.0
Welcome to discuss." [thankful_for_today makes plans to launch bitmonero, intended to be a fair fork of Bytecoin that restarts the mining rewards at the genesis block] (https://bitcointalk.org/index.php?topic=512747.msg6146717#msg6146717)
Whew!
That's not all that's worth seeing in that thread. I just highlighted some of the most important comments from the first 300, but I surely missed a few. Also, I know that important discussion continued to take place after that as well. Those excerpts only took us to page 15 in the topic and as of writing there are 234 (!!) pages of Bytecoin history to sift through.
The main takeaways should be this though:
  • Cryptonote came out of nowhere in the beginning of 2014, by way of an implementation known as Bytecoin.
  • No one had any idea who created this, and the code was incredibly sharp for a new project indicating that it had been refined for some time before that. (in stark contrast to the mess that was early bitcoin, as one poster put it)
  • The initial excitement over Bytecoin waned as people realized that it had been mined for years and they couldn't figure out anyone who had ever heard of it before then (early 2014). In fact approximately 80% had already been mined by the time the first altcoin enthusiasts heard of it.
  • Some users, including thankful_for_today, propose a fair fork of the technology but everyone was cautious because they don't want to take a piss all over the creators of cryptonote.
  • It is pointed out that the creators of cryptonote actually encourage others to create cryptocurrencies based off it, and do not claim it is a cryptocurrency in itself.
  • It is decided to create "bitmonero" and a new topic for discussion of that begins.
In future installments we will explore the initial days of BitMonero, the hasty launch that ignored the desires and concerns of the community, and the 'takeover' that brought us here to Monero today. Say what you will, but by virtue of having such a strange Chutes & Ladders type past, Monero allows us to focus on what's important: organic community growth and the technology itself. It helps avoid the nasty conspiracy theories and the "who is Satoshi" controversy that surrounds and plagues bitcoin. Some of us own a lot of Monero, but no one was shadow mining it for years before it became public knowledge.
In fact, Monero is so new that there is still time for anyone to be a Monero whale. Looking at the coin price since inception no one can rightly complain they were late to the party at this point. In fact, many of the early adopters paid a heavier price for their coins than we do today. Monero is down off its all time high of around $5.00 a coin during the initial ultra-speculation that surrounded it, and it is only now attaining the next tier of awareness.
The next generation of crypto-currency is here, and once you reduce and collapse all the variables you are looking at possibly the fairest launch in history of a cryptocurrency:
No one has gotten rich yet in the Monero speculation phase, and everyone is still invited to the party.
submitted by americanpegasus to Monero [link] [comments]

How to earn Bitcoin?

Overview - Table of Contents Introduction to Earning in Bitcoin Work for Bitcoin Sell for Bitcoin Affiliate Programs Gambling Bitcoin Mining Hardware Mining Cloud Mining Introduction to Earning in Bitcoin Bitcoin is the most popular digital currency in the world today. Bitcoin cloud mining is the fastest way to immediately begin earning bitcoins. Bitcoin is built using very complicated cryptographic principles, and supported by countless individuals and companies from all around the world. By early 2016, total Bitcoin market capitalization had crossed USD 7 Billion, making it almost as valuable as the GDP of a small country like Bahamas. All the other digital currencies together do not constitute even 20% of Bitcoin’s market capitalization, underlining the its dominance and importance in the world of digital currencies.
With such a huge amount of world’s capital available in the form of Bitcoins, the number and types of opportunities to earn in bitcoins are increasing by the day. In this article we will discuss such opportunities that help us earn bitcoins.
We will start with the easiest, or the one that is applicable for the maximum number of people, and then move to the tougher ones. In the end we will cover earning bitcoins by mining. Bitcoin mining is not an easy way to earn bitcoins, but we do have a number of easier ones we will discuss first. So lets start with ‘earning bitcoins by offering your services’
Work for Bitcoin Perhaps the easiest way to earn bitcoins is to work online or in real life for bitcoins. Because of the huge size of the bitcoin eco-system, a number of such opportunities and jobs are available. With Billions of dollars invested in Bitcoin by tens of thousands of people, there is a real market in Bitcoin, where you can find jobs for freelancers, software developers, writers, and others who get paid in bitcoins for their services.
Software development, writing, design, making websites or apps, audio transcription, are some of the most active types of jobs. You can easily discover the types of jobs by going over the more popular job boards for bitcoin related work. The following job boards or forums are some of the best places to look for such jobs or gigs.
Freelancing
XBTfreelancer Cryptogrind Bitlancerr Coinality Bitgigs Jobs4Bitcoins Rein Project Crypto Jobs List Market Places
OpenBazaar Purse.io Bitify /bitmarket 21 Market Video Streaming
Watchmybit Streamium.io Tasks
Bitasker BitforTip WillPayCoin File/Image Sharing
Supload.com SatoshiBox JoyStream Advertising
CoinAd A-ads Coinzilla.io Also, check BitcoinGames for ideas on earning bitcoin and blockchain game assets.
Sell for bitcoin You can also get Bitcoin by selling your old laptops, phones or other items for Bitcoins. Such types of transactions are happening more and more, and a lot of buyers are already buying anything from iPhones to even cars by paying with Bitcoins. For Americans, Craigslist.com is your best bet when you want to find such buyers. You can mention in your ad that you are willing to take payment in Bitcoin. This way if anyone wants to buy the item for you for Bitcoin, they can contact you and make an offer. The same principle applies to other online marketplaces such as gumtree for UK, kijiji for canda etc.
Affiliate Programs Affiliate programs allow a promoter of a business or product to earn money or bitcoins by refering new clients to such businesses or products. For example, amazon.com has a popular affiliate program, where you can earn commission ranging from 2% to 20% for refering clients to products listed on amazon.com. Amazon normally pays in dollars, but there are a number of other sites and businesses which pay you in bitcoin for acting as their affiliate.
Some of the more popular affiliate programs that pay out in Bitcoin are by the sites: cex.io, coinbase.com, okcoin.com and namecheap.com, among others. You can find a larger list of such affiliate programs on the bitcoin wiki page for Affiliates.
Gambling We do not recommend gambling for every player or every user; we find that gambling is only suitable for people who know how to win at it. However, if you are one of such lucky users who have some tricks up their sleeves, and can manage to win at games such as poker, then you will find that earning bitcoins is not that hard.
One of the many applications of bitcoin since the very beginning have been in betting games or gambling. Because of the relative anonymity of bitcoin, and the lower fees, it is very suitable for gambling related applications. Indeed, one such game, satoshiDICE, has been running since 2012, and has paid out a huge number of bitcoins in innumerable transactions to its winners. There are many such games, which you can find be googling.
If you want to gamble totally anonymously, you can play gambling or betting games that are available only on darknet or .onion sites. Such sites allow you to browse them anonymous by operating on the tor network, which is a secure network that allows users to browse .onion websites without exposing their own IP address.
Bitcoin Mining For each block that is added to the Bitcoin Blockchain, a number of bitcoins are rewarded to the creater of that block. This reward is currently, as of June 2016, 25 bitcoins per block, and it halves every four years. The next halving will be in July 2016. Creating or finding the new blocks, and therefore winning the reward of 25 bitcoins for each block you create, is called bitcoin mining. To do bitcoin mining successfully, you need very powerful computers, which compete with other computers to find the next block. The speed or power of computer that do bitcoin mining is calculated in hashes calculated per second.
There are two ways to do bitcoin mining: one is to own hardware or computers that do the mining, and second is to hire the hardware from a third party, usually online, and do the mining on the cloud. Let us discuss the advantages and disadvantages of both in next two sections.
Hardware Mining When you own the hardware that does the calculations and mining of bitcoins, its called hardware mining. Hardware mining is the more popular or prevalent of the two types of mining we mentioned. One of the biggest factors which comes into play when doing bitcoin mining using your own hardware is the price of electricity. If you pay top price for electricity, then bitcoin mining may not be your cup of tea. Another related factor is infrastructure needed to cool the hardware; since every cpu generates some amount of heat, you may need to cool the hardware in case they become too heated. No wonder that some of the most successful miners work from China, specially Tibet, where they can get cheap electricity, and their cooling costs are low due to high altitude which reduces the ambient temperature for them.
For a more in-depth information on how to setup your hardware mining equipment, have a look at the Antminer setup page.
Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:
AntMiner S7 AntMiner S7 Bitcoin Miner 4.73 Th/s 0.25 W/Gh 8.8 pounds Yes $479.95 AntMiner S7 Bitcoin Miner 0.1645
AntMiner S9 AntMiner S9 Bitcoin Miner 13.5 Th/s 0.098 W/Gh 8.1 pounds Yes $1,987.95 AntMiner S9 Bitcoin Miner 0.3603
Avalon6 Avalon6 Bitcoin Miner 3.5 Th/s 0.29 W/Gh 9.5 pounds No $499.95 Avalon6 Bitcoin Miner 0.1232 Cloud Mining There are a number of service providers that allow you to rent computational hardware from them, which can then be used to do bitcon mining. Some of these services are designed with bitcoin mining in mind, whereas others such as Amazon AWS are general purpose services that can also be used to do bitcoin mining.
Some of the cloud mining services which can be used to do bitcoin mining on the cloud are:
Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.
Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.
Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.
Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.
Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.
Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.
Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.
NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.
Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.
MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.
Written by Bitcoin Mining on May 4, 2016.
submitted by mibmabus to u/mibmabus [link] [comments]

Bitcoin Halving Explained - What traders need to know Bitcoin Halving and its Impact on the Markets Bitcoin Halving 2020  Bitcoin Halving Effect on Price  BTC Price Prediction 2020 Bitcoin Block Reward Halving  What is it, and why is it HUGE for BTC Buyers & Miners Bitcoin Post Halving Price Prediction 2020

Bitcoin has just ‘halved’ for the third time, a technical adjustment which happens every four years or so, and which bitcoin enthusiasts believe makes it valualbe.. The cryptocurrency’s ‘halving’ reduces the reward for using software to ‘mine’ bitcoin from 12.5 new coins to 6.25. When I found out about the DeepOnion project and found it out on a closer look at the roadmap, I asked myself about investing in onions. And I believe that I was not mistaken in this. I thank the developers for the good work excellent. Block Reward: the number of newly-created bitcoins. This number was initially set to 50, halved to 25 in late-2012 and will halve again to 12.5 in mid-2016. This halving process continues, approximately every four years (or every 210,000 blocks), until all 21 million bitcoins are created. This is the only way in which new bitcoins can be created; by miners according to the code’s rate and ... The lucky computer (or mining pool, as they often combine computing power for efficiency) can then gather a batch of unconfirmed transactions from a queue called the “mempool” and bundle them into a block to permanently write that block of transactions into Bitcoin’s ledger. To be granted permission to write on Bitcoin’s ledger, there is no shortcut such as political influence ... Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners ...

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Bitcoin Halving Explained - What traders need to know

He explains that the amount of Bitcoin rewarded for mining is halved every four years which means that it will be less profitable. "So as we look into the future the reward of new Bitcoins is ... Bitcoin Post Halving Price Prediction 2020 - Bitcoin halving is an event where the block reward for mining new bitcoin is halved, meaning that bitcoin miners will receive 50% less bitcoin for ... Bitcoin halved yesterday! Bitcoin rewards are halved every 210,000 blocks mined and generally occur every 4 years and this JUST HAPPENED. So why does this ma... A major event in cryptocurrency markets is upon us – the third Bitcoin Halving, when the reward for mining bitcoins is halved. Halving occurs every 4 years and reduces by half the speed at which ... Now the 12.5 Bitcoin block reward is once again, being halved and will now reduce to 6.25 Bitcoins per block. This reduces the daily issuance of BTC Bitcoins from 1,800 Bitcoin mined or created ...

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