#how to find old cash app account bitcoin cash app verification | Explore Tumblr Posts and Blogs

bitcoinbillionaireblog-blog · 7 years

Text

Bitcoin Billionaire 6

Bitcoin will arrive like an unexpected tsunami for most people who will be shocked by all the changes to their daily lives and personal finances that this strange new currency will bring, seemingly overnight. They will think when they start hearing about crypto currency that it is some sort of social fad, or they may think that Bitcoin is an app like Facebook or maybe PayPal, something they can live without. The inevitable Bitcoin and Ethereum big-events, breakthroughs, milestones, hacks, and catastrophes feel crucially important to everyone who is invested in the space both ideologically and financially. There are clearly serious political dimensions to Bitcoin as every nation, jurisdiction, and bank on the planet will be forced to come up with a Bitcoin strategy. Blockchain enthusiasts see opportunities the so called, un-banked. They see the potential for micro- loan payments between people of the First World countries and women and men in the Second and Third World. There are consequential matters of freedom and empowerment, like Bitcoin’s potential for eliminating the huge fees migrant workers pay when they try to send money back home to their families. Billions of hard earned and badly needed dollars could stay in the migrant worker’s own hands if they transferred the money using Bitcoin with its comparatively tiny fees for the actual transfer and no foreign exchange fees for currency conversion. We crypto currency enthusiasts learn all too soon that the world is not watching, that most people do not care, and in the end the big Bitcoin halving event, and the various hard and soft forks amounted to mere speed bumps during a technological race that has moved on to new events at new locations by new participants. Bitcoin is a product of consensus, and consensus, in turn, is a function of mathematics, computer code, and game theory.

I wrote this book for new first-time Bitcoin adventurers. I also wrote it for serious players out there who are doing commerce in the blockchain and Bitcoin space, and who are trying to understand the new and fast-emerging body of laws and regulations, concerning their business activities. My analysis of the American SEC or Securities Exchange Commission’s recent bulletin posted on their website about the Ethereum blockchain’s DAO hack will require a chapter unto itself. In another chapter about Bitcoin mining, I will write about my personal niche in the blockchain space: real-estate and property titles, document securement, time-stamping, anti-tampering tools, and unbreakable encryption. I am a Bitcoin miner and I do it for profit, but just as important to me, only miners get to vote. Mining is vital because it provides the essential electronic infrastructure that blockchains run on. The mining machines, or ‘transaction verification servers ’as I call them when I am selling the concept to skeptical authorities, connect to other nodes over the Internet worldwide in real- time to form unstoppable networks.

Open minded people who investigate what is now happening with blockchain technologies such as Bitcoin and Ethereum, and who then take a chance and invest will at a minimum have their lives enhanced by suddenly finding themselves making international contacts and doing global transactions. They will start thinking about the world in terms of politics, finance, economics, and technology. The profits in this new digital economy are staggering, and I must admit that it is completely exhilarating when these cryptos take off. The gambler’s rush from Bitcoin and Ethereum is better than holding a two dollar parlay bet on a longshot horse that becomes a wire to wire Triple Crown winner; because the thrill of victory often lasts for several months at a time, and making a killing is not a one time event. These digital assets often take off with afterburners blazing and they fly straight up the charts with near vertical trajectories. We are talking about seeing your money double in two months, and then do it again the following month, and then rise by 30% in a week. We are used to seeing thousand percent annual increases on ICO or initial coin offerings, and on crypto tokens of which there are hundreds. There is around one-hundred billion dollars invested in the tokens right now, with an additional several hundred million dollars of capital invested by corporations such as Microsoft, Wanxiang, and IBM, by venture capital companies such as Fenbushi, and by governments, and the major accounting firms such as Deloitte, and consortiums of big banks like those that have partnered with Blythe Masters. Whether Blythe Masters becomes the first Bitcoin Billionaire remains to be seen, but I think that her Digital Assets will have the greatest dollar volume of all the global crypto currency and blockchain companies by far. They are just now finishing a complete rebuild of the ASX Australian Securities Exchange, and she has her eyes on the Toronto Stock Exchange among others. Her blockchain distributed ledger systems will be used by many large international banks.

In early 2016, I started exploring Bitcoin. I bought my first Bitcoin for $630. Today, a year and a half later, Bitcoin is trading at $4,066 and people are saying that although it is down today it will most likely break $5,000 soon. Others say that until it hits $10,000 the big money will sit on the sidelines and wait and see. Most financial analysts and economists would agree that if only five-percent of the money that is currently invested in gold or gold derivatives worldwide transferred into Bitcoin that the increase in the value of a single Bitcoin would be astounding!

Sandra Ro and her CME group have teamed up with the Royal Mint in London, England to create digital gold tokens. Sandra Ro already exhibits the staid confidence and presumed authority of a billionaire. If my guess is right, she has more than one traditional billionaire backing her efforts. This gives rise to the question of whether an Ethereum Billionaire is in the same category as Bitcoin Billionaire, and for the purposes of this book any crypto billionaire will qualifies in the race for the first crypto currency or blockchain billionaire.

Jen Lee is ZenGold’s CEO and Viewfin vice president. ZenGold or ZGC is a token on the Metaverse blockchain. Metaverse is located in China and is available on the Internet at mvs.live . Metaverse prides itself on being the first public blockchain in China. ZenGold offers smart contract gold derivatives. ZenGold backs the ZGC token with physical gold held at the Shanghai Gold exchange. My friend Philip McMaster lives in China and is helping me find used mining equipment. He introduced me to Eric Gu at Consensus 2017 in New York. Eric Gu is the founder and CEO of Viewfin, the company that developed Metaverse. Given the head start that Eric has, his huge target market, and his solid connections to the largest investors in China, Eric Gu may well be the one to become the first Bitcoin Billionaire. I predict big things for Metaverse and for the ‘Entropy’ ETP token. Westerners are puzzled at the choice of that name because we have a generally negative connotation rather than an image of a positive change of state like ice melting into water which is how it was intended, and how the Chinese interpret it. Possibly they are better informed of the second law of thermodynamics that states entropy can only increase over time. Consider China’s biggest project of the century ‘One Belt One Road’. This name leaves us confused in the West as we have trouble relating ‘One Belt’ to a string of transportation infrastructure projects that are being constructed to restore the ancient Silk Road overland intercontinental trading route. Language problems are always severe to say the least, and doing business with China requires a thick skin and a willingness to get over the constant communication hurdles. The biggest app in China is WeChat. The app is an aggregator that has games, banking, messaging, and so on. It is like going back to the early AOL model of a closed environment. Metaverse intends to follow the aggregator model, and has Avatars which are personalized to represent the person who owns the account. People, companies, or even Avatars themselves can own other Avatars or fractions of other Avatars. Avatars can shop and do business independently and anonymously. Metaverse has pioneered the use of Oracles that act as guarantors for transactions done by the Avatars. The fundamental philosophy of Metaverse is that the blockchain environment should not exclude lawyers, accountants. and regulators but should accommodate them as Oracles. Metaverse has a new social network that I am one of the few westerners to have joined. Did I panic and flee when the application to join had a box requesting that I give them my blood type? Should one be alarmed that the growth of Metaverse will hopefully result in a ‘Programable Society’? No, that is exactly the kind of flexibility to cultural differences that is needed to get things done. That, and a tolerance for major time zone adjustments, visa requirements, language barriers, and seventeen-hour flights.

I needed some cash today so much like digging in the couch for lost coins and raiding the piggy bank, I surprised myself when I raised $485 from QuadrigaCX, my crypto currency exchange in Vancouver, Canada. I sold three and a half Litecoins for $63, each which was great because I had paid just three dollars each for them eighteen months earlier. I also sold a half of an ETH or Ether, the Ethereum token for $270. Just some residual pocket change from closing out an old wallet with a small balance that had grown to become significant. I then received $6.07 worth of Bitcoin from Genesis Mining to my Blockchain.info bitcoin wallet on my iPhone. On top of it all that evening I made $23 from my Steemit blog account at https://steemit.com/@doubleeagle where just under four hundred dollars remains of my eighty-dollar investment. I earn about seventy cents per day from Slushpool for the hashes produced by my noisy old, Antminer 5 Bitcoin miner. The seriously outdated but reliable rig has paid itself off many times over and is still running fine. The key to my system of investing in Bitcoin is that I think of that seventy cents daily payout in Bitcoin which is around 17,000 to 18,000 Satoshis per day. Imagine a time when a Satoshi is like a dollar is today, and when a Bitcoin will be worth well over one million dollars. I would say that this is all highly speculative, but in my view for the average person the extraordinary returns from crypto currencies are matched only by the lotteries which offer low odds of winning. Ironically it seems to me that there are very high odds in favor of windfall profits if the Bitcoin is held long term. May I suggest redirecting some of your discretionary lottery budget to investments in crypto?

There is a reason why so few writers have tried to write a book about what is happening with Bitcoin. This, although it is probably the story of the century, and marks a great epoch in human history. Trying to write a book on this topic is like trying to drink from a much-referenced fire hose. Change is everywhere, and unexpected dramatic change happens weekly. Writers must feel as I do that the important things that they have researched and written about are largely irrelevant in mere months. There is an immediacy due to the needs of real-time day trading investors are looking for instant news. Most people find four or five trusted sources for news and then follow these writers on YouTube and Steemit. There are major thefts of Bitcoin from exchanges now and then affecting prices, or news from China, or some new pump and dump hype, and FUD or ‘fear uncertainty and doubt’. There is always the potential for the digital tokens to disappear if they are not handled correctly or even sometimes if they are. This reminds me of how the penny mining stocks used to be, in the days of commodity exchanges like the VSE Vancouver Stock Exchange. Bitcoin is said to be economically modeled after a commodity such as gold. Bitcoin like gold has a limited supply of twenty-one million and is always becoming more expensive to produce.

Bitcoin went through the planned second ‘Halving Event’ in July of 2016 where the payout per ten- minute block dropped from twenty-five bitcoins to twelve and a half bitcoins per block until the next halving four years hence. The current volume of Bitcoin mined per day is $7.3 million dollars. This does not include transaction fees. Miners are being rewarded about $300,000 USD per hour or $50,000 for each single ten-minute block. As you can imagine there is intense competition among miners to get these prizes. It is a mathematical probability decision as to whether a miner should gamble and go it alone where if the block is found the entire reward may be kept. I opted instead to join a large group of other independent miners from all over the world who plug our hash rate into Slushpool. Now the mathematical probability equation works in my favor. Marek Palatinus aka ‘Slush’ started this the world’s first mining pool at Prague, in the Czech Republic. I chose Slushpool because they have demonstrated having the most successful experience of anyone to adapting to change. We share the payouts including fees, we get to cast votes on critical issues, and we receive reliable daily revenue, which arrives in my Bitcoin wallet. I should say that I do not receive daily mining payouts any longer because when I went to spend the rewards with large transactions there were inordinately high fees due to the composite nature of all those little payouts. I have since switched my payouts from Slushpool and Genesis Mining to 0.01 BCT lots, and just leave them building at the pool or with Genesis. I intend to devote time in a later chapter to, Genesis Mining CEO and CFO Marco Streng and Marco Krohn, these two guys are prime candidates to become the world’s first Bitcoin Billionaire. Together these two world- class players have built l big mining operations for Genesis Mining in secret locations around the world including Iceland. The island nation has obvious geothermal electric generation potential, and similar cold weather to Manitoba. These two guys are much more secretive than Bitmain’s two CEOs Jihan Wu and Micree Zhan who appear a little later in this book. Surely from an academic perspective questions arise as to if companies having dual CEOs will become a trend in business? The only team in the past that I can think of would be Google’s Sergey Brin and Larry Page and that turned out to be a roaring success.

Japan has surged ahead in Bitcoin adaptation nationally among the other G20 economies by adapting point of sale Bitcoin terminals in several hundred-thousand retail stores. The People’s Republic of China is still the dominant world player in Bitcoin because of all of mining and equipment manufacturing design that takes place there, and because their government has had the best Bitcoin strategy. Bobby Lee the CEO of BTCC the first, and still the largest Bitcoin exchange in China, who is a definite contender for the first Bitcoin Billionaire title, said recently that his company did not encounter much friction from the People’s Bank of China as they were growing their business because the PBOC views Bitcoin as a digital asset rather than as a currency. He also says we should not expect terminals to pay for goods with Bitcoin in China because even Hong Kong dollars are not permitted for use in China only the Renminbi China’s official currency may be used as legal tender. Jihan Wu and Micree Zhan are co-CEOs of Bitmain the major manufacturer of Antminer Bitcoin ASIC Bitcoin mining equipment. Given the enormous scale of their operations which also include Antpool; both of them would have to be leading contenders for the first Bitcoin Billionaire title. Bitmain’s Bitcoin mining hardware is chronically backlogged with orders for mining equipment. Their position is understandable. Why should they sell the machines instead of just plugging them in and keeping both the machine and the money earned everyday Bitcoin mining?

The Bitcoin revolution comes at a most opportune time for the Chinese. They have excess hydro-electric generating facilities and they need cash for their rapid expansion. Bitcoin mining creates immediate cashflow that is both local and lucrative. The situation is much the same in my home province of Manitoba, Canada; with our many large hydro-electric dams on the Nelson river that flows into the Hudson Bay. That’s right, the Hudson Bay, Manitoba has polar bears! We are quite far up north and even with global warming we can offer free cooling for eight months of the year because of our cold weather. The mining equipment runs very hot and needs constant cooling which accounts for a major percentage of overall power usage . I have an ongoing lobby with a mission to promote Bitcoin mining in Manitoba. We are exploring the feasibility of importing one or two large shipping containers of used Bitcoin Miners from China to Winnipeg. I try to lobby the government, and Manitoba Hydro the electric utility which is a Crown Corporation to get involved. That is why I took some extra steps during my visa application to attend Devcon 2 the big worldwide Ethereum Developer’s Conference in Shanghai which I will go into later.

I watched a YouTube video today that was put out by Roger Ver who would definitely be in contention for the first Bitcoin Billionaire title. He says that he holds over half of the Bitcoins in Peter Smith’s Blockchain.info wallet, which is my recommended Bitcoin wallet. The wallet web portal is based Luxembourg, but it seems that most transactions are routed through some small islands off the west coast of Africa, and has more funds than all of the other Bitcoin wallets combined. I keep my Bitcoin in my Blockchain.info wallets on my Samsung S7 Android, and on my iPhone 6, and I also have a matched version on my main desktop PC. I really like the way the Blockchain.info wallet user interface works. They have fifteen million wallets in use and have completed one hundred million transactions. Peter Smith is another player with the potential to be the first Bitcoin Billionaire.

Ver was criticizing the Bitcoin Core team and Blockstream a closely related company that employees many Bitcoin Core developers. Adam Back heads up Blockstream and he is a very respected long time Bitcoin developer. I sat across from him at lunch at Construct 2016 the invite only San Francisco developer’s conference put on by CoinDesk and sponsored by IBM. I said loudly so as to catch his ear that I liked the idea of flexible fees. I have interests in Bitcoin mining and I like earning mining fees. So yes, I admit that I am biased, but I still want fees to be fair for migrant workers and people in the third world. There are about two- hundred and fifty thousand dollars per day paid to miners in fees. Roger Ver is saying that people will leave Bitcoin for alternative crypto currencies if fees get to high or the network has delayed confirmation times, what he warns could become a poor user experience. This was in fact happening and fees had risen from being nearly free to fifty dollars and more sometimes, which Core points out people were willingly paying albeit with a grumble. But everyone had made such high profits just on the increase in the value of Bitcoin alone that they could bear the fees with ease and they did.

Vitalik Buterin is an extremely intelligent young man who started out writing about Bitcoin and then created Ethereum, which is Bitcoin’s biggest competing currency. The focus was no longer to be on the value of the Ethereum token ETH, but rather on the ability of coded ‘smart contracts’ to use the immutable blockchain in the EVM for legal commerce whereby the funds are not released until certain conditions are seen to have been fulfilled by the smart contract. I must say that no one is complaining that Vitalik’s original vision of a cheap token did not work out, and Ethereum has soared to recent prices as high as four hundred dollars and can boast a total capitalization of thirty- billion dollars USD with rapid global multi faceted growth. So, will Vitalik be the world’s first Bitcoin Billionaire? I do not know, but he has been voted the most influential person in crypto by industry participants. Like so many intellectuals before him Buterin seems to eschew riches, instead, he is happy in his role as "Chief Scientist" for the Swiss non-profit Ethereum Foundation and in experiencing extensive travel and learning foreign languages. His sudden ability to speak Chinese surprises audiences as he takes questions and gives lectures in Mandarin. I was surprised to see Vitalik speaking fluent Russian when he met Vladimir Putin recently. Vitalik just announced that Metropolis will be released in late September of 2017 with a hard fork. ‘The Plasma Framework’ scalability solution will be done in coordination with Joseph Poon of ‘Lightening Network’ fame, and will feature 'zk-SNARKs' or zero knowledge proofs. Vitalik does not like mining, he says that it wastes electricity and computing power. He and Vlad Zamfir have been working on ‘Casper’ a Proof of Stake system that does not require Proof of Work mining. POW or Bitcoin Mining makes it too expensive in terms of electrical costs, equipment costs, maintenance costs, programming costs, and in the time needed to download the entire blockchain; for a hacker to build a super- computer and try to overpower or out-speed the blockchain in a malicious attack to harm the blockchain or to commit fraud.

In 2016 big money flowed into the development of Ethereum from Microsoft the sponsor of the event along with Wanxiang Blockchain Labs and Fenbushi the largest venture capital firm in Asia. We are talking an easy hundred million dollars committed with every indication that ‘all systems are go’ for even bigger things to come soon. The Devcon 2 event in Shanghai was successful beyond all measure and caused me to really stand up and take notice of what these alt-coin pioneers had already accomplished, and where they were headed.

There is a video commentator from Epicentre that I like to watch online named Meher and I wound up sitting beside him for a while in Shanghai at Devcon 2. I let him know that I liked it when he and Sebastien Couture and Brian Fabian Crain did online shows for Epicentre and that I was a fan. I was interested to see how he would describe the experience to his co-hosts and their viewers when he got back to Europe. I tuned in on YouTube when the video came out. In the program, he said the event and the city of Shanghai seemed like “science fiction”. That it was like living a scene in a science fiction movie. He was spot on as usual. That is what it felt like to me as well only probably a lot more because being so much older I see so many things that would have looked like science fiction in the 1950s and 60s. It started right at the airport where I was chauffeured to the Hyatt on the bund hotel in an BYD all-electric car instead of taking the Maglev high-speed train into the crowded and colorfully lit streets of downtown Shanghai.

Vlad Zamfir was received enthusiastically by the crowd of nearly 2,500 Ethereum professionals at DEVCON 2. Vitalik praised him highly to the crowd and thanked him for his assistance in dealing with a serious DDOS or dedicated denial of service attack some bad actors tried pulling in the middle of the night before in Shanghai. The attack was obviously planned to catch everyone in Ethereum off- guard because so many staff were in Shanghai and away from London and Switzerland, and to exploit the time zone differences.

The Construct 2017 conference in San Francisco was held in the Palace of Fine Arts an historic symbol of technology in the Bay Area. I observed that it was a two Tesla event although, there was also a BMW electric car there which I thought was very futuristic. Vlad Zamfir seemed to me to be a little down at the conference and he looked tired. When he started his presentation on Casper, and how proof of stake was going for him and Vitalik, he was shocked to see that many people were doing other things and several were not even listening to what was really important news. He went through the very interesting talk anyway and I guess he realized that maybe either these were Bitcoin guys or maybe they intended to watch the video when it came out. Later that day I listened to him again when there was a plenary on the threats of AI or artificial intelligence. Vlad clearly said that he was worried about inventing something that in the future might have unintended consequences that might somehow technologically harm people instead of freeing them from state and banker’s control. He fears a government somewhere could somehow use some of this to control the entire population. Vlad was seeing the bad side of the world because he had been spending months running game theory scenarios looking for fatal flaws that could be exploited by hackers of the Casper Proof of Stake Protocol that Vitalik has promised will take Ethereum away from mining. He said that he was pushing as hard as he could ahead but the weight on his shoulders was a tremendous responsibility and was becoming a heavy burden, although he was more than up for the challenge. Thirty- billion dollars worth of Ethereum at risk now, and a perhaps a slight risk that despots somehow misuse these tools. Several months of serious game theory will do that to you. I think that by doing a full risk analysis Vlad is being responsible, and I am sure he will never end up doing anything but good.

There are plenty of good reasons to be suspicious about malicious bad-actors behind the scenes. State actors, money launderers, tax cheats, ransomware hackers, all manor of criminals that hide in the dark could try to use crypto to avoid the law. On the dark web Tor browser sites like Silk Road have already enabled criminal activity. It is common knowledge that the Tor browser was released by US Office of Naval Research and DARPA in 2002. We also know about how Bit Torrent enabled peer to peer file sharing that could be used for pirating copyrighted material, and that there is pornography on the Internet or how prostitutes could be contacted on the backpage website. So, do we just shut down the Internet? Of course, we don’t, and we can’t because the Internet has become a huge indispensable sector of our society and economy.

We still do not know who Satoshi Nakamoto was or if he was just a cover name for an operation of the United States or some other government. Possibly Bitcoin was designed as a fall back plan because in 2008 a sudden catastrophic meltdown in the American economy based on bad mortgages took place that was becoming a crisis nearing that of the Great Depression of 1929, and a total collapse was feared imminent by many top level officials at that time. Banks were failing and major companies where in terrible financial shape. Some people still claim that some of the larger Bitcoin transactions today are funding Black Ops worldwide. European authorities have also reported that the Islamic State terrorist cells in Paris and Belgium had used Bitcoin to fund operations before the horrible attacks.

I find it unfortunate that this generation has to function in a trust -less society in cyberspace and in a trust-less society in the real world. The real world has fake news, propaganda and lies, and the crypto world has alias usernames, encryption, and reputation. This crowd has a very strong need for consensus and avoid contact with people who have been shunned for the social transgression of saying that the group might be wrong about something. Algorithms on MSN and Facebook and many other social media sites give the viewer content that has been determined to appeal to them by their politics. I was determined not to say anything about the recent American election because I am not a citizen of the United States. The Construct 2017 San Francisco event opened with exasperated announcements that many attendees were having trouble at the airport because of the tremendous confusion because President Trump had just announced his immediate travel ban. There were terrible scenes on television of families at the airport with their travel plans disrupted and their lives turned upside-down, some innocent travelers were being held in custody because of all of the confusion. Someone took the microphone on the stage and addressed the crowd with a defiant suggestion that the programmers should fight to make blockchain based identity documents so that refugees with no passports or birth certificates could prove that they were legitimate refugees rather than the sleeper cell terrorists they were being accused of being.

Later at the lunch that I had basically shouted across the table that I liked flexible fees for the benefit of Adam Back, I turned the topic as to whether or not judges could be trusted, because as I told them all that I find it shocking that they really do not trust judges or their legal systems. I told Matt Smith the bright young senior developer from Gem in Los Angeles, that maybe it was generational, but I still trusted judges. I give everyone the benefit of the doubt and an assumption of honesty. They had been conditioned to expect the worst from people because their real world ethics had begun to reflect their cyber ethics, and their game theory ethics. I tried to argue that if one does not believe in ‘the good man or woman’ one probably will feel like a sucker trying to be a ‘good man or woman’. They got the last word in with “ Look at our last election” to which I was pledged not to comment, everyone agreed it was a winning argument.

I had one mission at the Construct 2017 event in San Francisco. I had driven in winter through the mountains from Winnipeg to San Francisco to ask Zooko Wilcox a question about ZCash mining. I intended to walk right up to Zooko and ask him about Claymore’s new ZCash mining software. Zooko is a tall thin man, kind of a tough guy like Clint Eastwood or maybe an eccentric billionaire type like Howard Hughes. He was really on his guard because he had recently stated publicly that he feared for his safety and was rushing ahead with unbreakable encryption because he feared the government would try to stop him in any way they could. His logic was once it was launched he would be safe. I watched how he inter-acted with the other big-name speakers, like Joseph Poon , and Vlad ,and others who genuinely liked him. He was obviously very popular and he had decades of experience and achievements.

He was standing alone for the first time and I pounced. I stood right in front of him and I said “ Hello Zooko. I am Jeremiah a miner from Winnipeg and I have just one quick question about the Claymore ZCash miner if you can spare me a minute”. He smiled warily sizing me up and by that I mean he probably was thinking … “Is this fat bastard from the NSA?”.

I stood my ground and held his eyes in a lock and waited. He smiled a little at my audacity and reached down and turned up my identity tag to this invite only event where press were expressly prohibited. CoinDesk took a post event survey and have announced that next years event will welcome the media. He read Double Eagle BTC and stared at me accusingly. “Yes I said I am a miner from Winnipeg and as you are the main guy for ZCash tell me if you think I should trust Claymore”? He said “Mining, I don’t have anything to do with mining”. I said “Well, Claymore sells for forty dollars on a plug and play mini 16 GB SSD drive that auto mines ZCash but they take a minute and a half per hour and use your resources as they want. They might mine the same coin, or mine another coin”. My point was could they do something I did not want happening on my system during that time. IPFS or the Interplanetary Filing System has proven that networks of idle computers can rent out their storage space. Zooko knew what I meant but either he really did not know much about mining or he was playing dumb to fit with his ‘Ceremony’ narrative ; which has bizarre cloak - and -dagger elements that I do not know enough about to go into it in much depth, although he did go over it in some detail on stage. It involved his attempt to assure people that there had been no pre-mine of ZCash and that no one had a universal key. It involved six computers in different locations that all cut a DVD with one sixth of the code. Then the computers that had been previously stripped down and their hard drives were destroyed. I think this example of the social trait of millennials in general and techies in particular demonstrates counterproductive ways that the ‘no good man or woman’ mindset can impact beliefs and behaviour. Reputation played a role as Zooko has a very good reputation, and his other participants lent their excellent reputations to the effort as well. Still Zooko said on stage that he felt that he could not just say trust me. My question is why couldn’t Zooko just say trust me?

In any event as I write this about eight months later ZCash has a market capitalization of $566 million USD and is priced at $274.66. It looks like a real winner because several of the best new Ethereum wallets such as Jaxx are using ZCash for anonymity. My pool Slushpool has started mining ZCash and it seems Claymore’s mining program was just fine but I have several other new ZCash mining programs available for free. Genesis mining now has ZCash mining contracts available, along with Ethereum, Monero, Dash, and Litecoin. I really made fantastic profits on the X-11 Dash contracts that I bought from Genesis Mining last year. We can take a deeper dive into comparative experiments that I have done to calculate the value of home mining versus cloud mining such as buying contracts with companies such as Genesis.

The Bitcoin blockchain forked on August 1, 2017. That means that if you had a tenth of a Bitcoin on July 31 you got a matching tenth of a BCH BitcoinCash token. You doubled your token count you now hold equal amounts of BTC Bitcoin and BCH BitcoinCash. The sudden unexpected decision that Bitcoin would fork on August 1st must have been made in late May at the Consensus 2017 event in New York sponsored by Barry Silbert. He is America’s premier crypto currency entrepreneur. He would be my pick and he would get the highest rating in my handicapping of the Bitcoin Billionaire’s Stake Race. He has over fifty crypto currency related companies in fifteen countries. I really feel like a small thinker when I watch the maneuvers of a big thinker like Barry Silbert, owner of the Digital Currency Group, Grayscale Investment Trust, and CoinDesk magazine. I invested in his new Bitcoin ETF derivative GBTC units from Grayscale, and I did ok with them. They only deal with accredited investors with net worth of over one million dollars exclusive of residence or income of over two hundred thousand dollars a year for each of the past two years. Luckily for me the oil business was not yet completely dead so I qualified on income. The units are based on NAV net asset value rather than being a fraction of a bitcoin as many people mistakenly believed when the fund was launched. I balked and sold out after receiving an offer to invest two hundred and fifty thousand dollars at four o’clock PM that would be priced at NAV regardless of where the unit price had ended trading on close at 4 PM. I could not see much difference between this overly attractive offer and the late- trading issues mutual funds had seen many years ago.

I must admit that I was wrong earlier when I was very critical of Silbert when he started buying Ethereum Classic ETC tokens after the Ethereum fork. As Andreas Antonopoulos the best promoter of Bitcoin on earth whose opinion I value highly warned in a video I watched about the resurrection of Ethereum Classic ETC by Charles Hodkinson after an unknown hacker in Russia using the handle Arvicco first revived the discarded pre-fork Ethereum blockchain. “When one is most absolutist in their position, that is often the time when one is most likely to be completely wrong” and time has shown that such was the case. I attended the Consensus 2017 conference with my pitch for Bitcoin mining in Manitoba, but had no inkling about what was happening behind the scenes in the five floors of meeting rooms at the New York Marriot Marquis hotel located on Broadway in bustling Times Square. A so called “New York Agreement” was signed by many big time Bitcoin companies and exchanges in some exclusive back room negotiations. A week or two after the event it was announced that an unstoppable fork would take place on August 1, 2017, as it later in fact did, just as predicted with the precision of a total solar eclipse.

The one-megabyte block size will remain the same with slight capacity improvements as part of Segregated Witness off chain features are added that save space. This is an improvement that Erik Lombrozo has been promoting for the Core team, and that Andreas Antonopoulos has recommended as a good BIP or Bitcoin Improvement Proposal. This will mean that fees will remain higher than they would be if the block size went to two- megabytes as many thought it was poised to do, or to an eight- megabyte size that many users had also been lobbying for during the past year. Transactions may be slower because of the full blocks but the ten-minute block benchmark is adjusted by a mechanism called the ‘difficulty’ which adjusts every two weeks in Bitcoin and every four hundred blocks in the much faster fourteen- second Ethereum blockchain. So far I have not seen problems with high fees or slow confirmations. People said yes, I want that free money and welcomed the new BCH received after the split. My company website https://smartpropertyblockchain.ca has live prices for Bitcoin and Ethereum posted on the home page from widgets provided by Cryptocompare.com . Bitcoin is at $5,352.55 Canadian Dollars and BCH or BitcoinCash at $899.23 CAD. The Ethereum blockchain had seen a previous fork and stable trading patterns have evolved over the past year my website shows Ethereum priced at $418.03 CAD and ETC at $18.90. These forks are a little bit like stock splits but there is no guarantee that you can access the cloned token unless you have made arrangements. The combined price of BTC and BCH is greater than BTC was before the fork. Everybody won.

I know that I look like an old cop and I try not to freak people out. It did not matter that I looked like an old cop when I was in Fort Collins Colorado and I explored the civic culture of recreational marijuana stores so as to get an idea of what to expect at home now that Canada’s Prime Minister Justin Trudeau has legalized it. I was also very interested in the Fort Collins Solar Clean Energy Collective. They had a great set up with local people buying unit shares. Their large array of collectors were not dual axis solar tracking as I would suggest but it was up and running and was financially viable. I have found that many programmers have a side interest in solar. That was the main thing the two engineers from Microsoft wanted to talk about in San Francisco. Elon Musk has some new solar roof tiles that are lighter, cheaper, more attractive, harder to break, and easier to install than ordinary roof tiles, and his whole package of a Tesla in the garage, with a Powerwall 2 battery for the house and solar panels or roof tiles intrigues young engineers . I find a lot of excitement about this at Bitcoin conferences by programmers. One of the best applications that I discovered at Consensus 2017 was an idea that Susan Furnell described: a micro-token that is self generated and powered by the solar panel that it is monitoring , the token is then sold automatically through smart contracts with utilities and exchanges. I have been trying to design a dual axis solar tracker program using a raspberry pi mini-computer and Arduino controllers. I am going back for the third semester of computer programming at the University of Winnipeg next month. I decided a long time ago that rather than to first take code off of Github, I would put some good code on. I have nightmares of Trace Mayer shouting in my face “where is your code, show me your code, you will never make the team, you’re just not good enough”. Trace is rough on rookies but when he goes on Jeff Berwick’s Dollar Vigilante YouTube Channel to debate Roger Ver. He does argue a good case and he is obviously a guy who would make any team.

Talking about the unknown origins of so much of this new technology the recent story of ‘ Mimble Wimble’. Named from Harry Potter it is super encryption that suddenly appeared posted online. The ramifications of this new super encryption technology are being discussed but no one knows where it came from. It is really the next big thing and by the time I get this book up to that chapter hopefully it will be better understood.

One does not have to look at the latest mathematical encryption techniques to find the actual conceptual barrier that the over 55 crowd has the most difficulty understanding. This new paradigm changes everything that we have grown up believing about business, proprietary assets, and value. I think that it all started in 1991 with Linus Torvalds who released the Linux operating system for free, all he wanted to retain for himself was control of the name Linux. Torvalds probably would not wish to be entered in the Billionaire sweepstakes. Judging from how he acted in sharp contrast with Linux as to what Bill Gates, who is most certainly a Billionaire, had done with Microsoft. Torvalds later set up GitHub which is a stack based open source code repository that has become the main gathering place for programmers. Many companies do their development on GitHub. This means that everything is out in the open and nothing has a patent or trademark or needs a licence to be copied. Elon Musk shocked investors when he bravely re-declared Tesla’s commitment to open source. From the size of the lithium battery that goes into the battery pack, to the weight of the Powerwall 2, everything is open for competitors to see, and that includes autonomous automobile navigation systems. Competitors could potentially save millions of dollars in development costs that Tesla had to spend to get the same information, or to get the design to that stage. Satya Nadella the visionary CEO of Microsoft understands and he has made Azure Microsoft’s big new BaaS blockchain as a service and data base management system open source. He has announced plans for Excel spreadsheets to have Bitcoin as an available currency, and of course Microsoft accepts Bitcoin on their website for any of their products. IBM is dabbling with open source by participating in the hyper-ledger project but it is certainly not ready to sanction a change in policy yet.

Maybe I should give an example from my own business situation of how this plays out in the real world. I have smartpropertyblockchain.ca which is a new company in Canada that has a stated purpose of offering a blockchain alternative to the Torrens style paper- based government Land and Property Title Registries that the government or it’s surrogates run. What if your government was Venezuela, or Libya? Land fraud is common in many countries and it is hard to protect yourself from the risk of it. One or two bribed clerks with a rubber stamp, or maybe a lawyer with some bogus or altered documents, and anyone could be in jeopardy of losing their property. There is a company in Austin Texas called Factom and by the looks of the smiling faces on their website it is a great place to work. The company has been very successful and has many major law enforcement agencies on it’s client roster including the Department of Homeland Security. Factom’s CEO Peter Kirby is quoted in CoinDesk as having said “We really believe that when you move all of the data in the world into the blockchain you can create a lot of transparency and value”. Early investor Tim Draper is quoted in the same article saying “Centralized data is prone to critical failure by any individual mistake, whether by user error or malicious hacking. By decentralizing data through the blockchain, Factom avoids critical failures due to user error or hacker”. Their code for Factom is open source and they state clearly that if it will help any new Startup they would be happy to share their code free of charge.

Factom is doing very well with big new contracts, and a token called Factoids that has tripled recently, or as Jim Cramer from CNBC’s Mad Money investment show would say “en fuego”. My website shows the price of Factoids FCT in Canadian dollars as $38.57. They all look like great people and I know what a great city Austin, Texas is as I have been through there a few times. How does it harm them or in any way compete with them, for me, way up here, across the border in Winnipeg Canada, to do local property titles on a cloned blockchain?

Smartpropertyblockchain.ca may find some new technique for electronic appraisals because automated real estate valuation modeling is one of our main features in development with working regression AVM models in hand. If in the future by some twist of fate Factom could use our code for appraisals or perhaps our geomatics technology integrating drone surveys and digitized records on the blockchain, they would be welcome to it.

Blockchain forks and a new chain is born. That is the ethos of the new world. People will attend a seminar and pay a few hundred dollars for the event. They will ask if the slides from the presentation are available on the web. It is understandable that the lecturer might feel that keeping the slides unavailable might be a good idea for job security. Not so, not in this new world. Many older managers will never get the concept and will be eased out of their positions and retired. I have a rule of thumb that I use for my personal time management, and the older that you are the more important that time management becomes. I must devote a minimum of four hours per week, or two full days out of every month devoted expressly to learning new things in technology and computer science so I can keep up with the progress around me in. It might be my newest smartphone or keeping my wireless printer mated to my desktop PCs Windows 10 after the latest update. Maybe it is my trucks Magellan GPS navigator, or our home satellite system or WIFI router. Perhaps I am just taking an hour to take a look at Rust or Python. Honestly, for me trying to keep up with the times is usually a challenging and often frustrating time out of my busy schedule. I can imagine that a lot of people just don’t bother and are tired of always having to relearn programs after they upgrade. A symptom that people should look out for is if they are getting confused on their city or government websites because of their lack of computer skills; they should wake up and realize that they need some training. At a minimum, people should know all about using Windows 10 ,how to search the web using google, basic email security rules, and how to buy things or make reservations online, including how to make payments with credit cards or PayPal online.

The idea that computer coding is for everybody is also quite a stretch in my opinion. Judging by the attrition rate among my classmates at the University of Winnipeg Applied Computer Sciences program. I have observed that even really bright tech- savvy students find learning Java for example quite difficult.

C/� �e�ѷ��<2

8 notes · View notes

uscitizenclothing · 5 years

Text

An In-Depth Look at Iris, a New Decentralized Social Network

Cryptocurrency advocates have been discussing a new social media platform designed by one of Bitcoin’s earliest developers Martti Malmi, otherwise known as Sirius. The project he designed, called Iris, is a social networking application that stores and indexes everything on the user’s devices and connects directly with peers rather than using centralized and privacy-invasive algorithms. Also read: Coinex Exchange Lists the first SLP-Based Stablecoin Built on Bitcoin Cash

Former Bitcoin Developer Creates Social Networking That Uses Cryptographic Key Pairs

Over the last decade, people have been on the hunt for the ultimate decentralized social networking experience that puts users 100% in control of their data. This quest has been a holy grail of sorts for cryptocurrency proponents as well as those who believe digital assets will be integral in driving a proper social media solution. There have been a few attempts where people have tried to design decentralized versions of Twitter and Facebook but so far none of them have really caught on. Although, one application called Memo.cash, a platform that utilizes the Bitcoin Cash (BCH) network, has gained some traction since it first launched over a year ago. The Iris platform created by one of Bitcoin’s earliest programmers, Martti Malmi, is another social networking alternative that is quite different than its centralized predecessors.

Iris stores and indexes everything on the user side and in the back end it uses cryptographic key pairs and a reputation system called the web of trust. The application promises to offer a social media experience that cannot be censored by authoritarian governments and it’s not controlled by a giant corporation. Iris aims to curb trolling and eliminate spam and advertisements that can be found on most of today’s social media networks. “Iris is a social networking application that stores and indexes everything on the devices of its users and connects directly with peers who run the application – no corporate gatekeepers needed,” explains the software’s Github repository documentation.

Testing the Social Networking Platform

To provide an idea of what this application has to offer, I created an account on Iris on June 13. Iris is available to use at three different domains, iris.to, iris.cx and irislib.github.io, but it also offers browser extensions for Chrome and Firefox. Moreover, there are plans for an Electrum desktop app with Bluetooth and LAN peer finding. When using Iris, similarly to posting onchain using Memo.cash, everything you post is public.

To create an account on Iris I simply pressed the login tab and wrote my name in the new user field. Existing Iris users can paste their private key or drop the key file in the login window below. After creating a new account the software gave me access to the Iris dashboard where I can post and change my profile settings. In order to get a feed going in order to upvote friends, you can ask people for their QR codes to scan in order to make their posts visible. You can also browse an Iris address book as a starting point so you can follow other people’s posts.

In the settings section, you can gain access to your private key and it’s good to remember that if you log out you cannot log back in without the private key backup. When creating your account make sure you back up the Iris private key in the settings section. When you start to use Iris over time, by following a list of users and upvoting content, you start building upon what Iris calls the ‘web of trust.’ Essentially when you upvote another Iris user they become your first-degree contact, following this the accounts they upvote become secondary contacts and so on. This is how the web of trust builds and you can filter this scheme while also having the power to downvote. “This way we can avoid spam and other unwanted content without giving power to central moderators,” the Iris documentation notes. “You can also add to your contacts list and rate people and organizations who are not yet on Iris.”

Web of Trust, GUN, and IPFS Solutions

On top of this, identity verifications can take place by utilizing peers trusted by your web of trust. For instance, if you lost the private key to your account you can simply create a new one and link your old Iris data by asking your web of trust for verifications. Iris creators have revealed other concepts that could be tied to Iris like cryptocurrency wallets. Digital asset wallet curators could design an Iris-based human-recognizable identity system that’s tethered to payment addresses. The developer specifications say that Iris could be used instead of telecom-bound phone numbers on mobile messaging apps like Signal. Additionally, users can opt to connect imports from existing services and have them digitally signed for verification purposes. “In other words: message author and signer can be different entities, and only the signer needs to be on Iris — For example, a crawler can import and sign other people’s messages from Twitter,” Iris developers theorized. “Only the users who trust the crawler will see the messages.”

A look at how a user can post and follow the feed of people they choose to follow. Users can also create polls. Getting used to Iris takes a few minutes, but after getting the hang of the interface it works quite well. Malmi’s creation still has an incredibly large hurdle to overcome which is attracting an active user base. This issue is what every decentralized social media app faces because it’s not really an enjoyable experience with no active people. Still, Iris offers what most incumbent social media giants don’t, which is decentralization stemming from messages and contacts stored and indexed on GUN and IPFS for backups. Moreover, other social media applications have issues with profiles being cloned in a malicious manner and Iris greets identity and reputation head-on. With more activity, Iris could become a successful social network. The problem is that enticing people to switch over is easier said than done. What do you think about Martti Malmi’s social networking platform Iris? Let us know what you think about this subject in the comments section below. Disclaimer: This editorial is intended for informational purposes only. Readers should do their own due diligence before taking any actions related to the mentioned organization, social media platform, software or any of its affiliates or services. Bitcoin.com or the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Image credits: Shutterstock, Twitter-Martti Malmi’s profile, Iris, Jamie Redman, and Pixabay. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. Tags in this story Bitcoin, Cryptocurrency, Decentralized, Decentralized Social Media, gun, Identity, IPFS, Iris, Key Pairs, Martti Malmi, N-Technology, Private Key, public key, Reputation, Sirius, Social Media, Social networking, Web-of-Trust

Jamie Redman Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today. Source link Read the full article

0 notes