SHA-2 Encryption Algorithm – BitcoinWiki

0xBitcoin

The first pure mined ERC20 Token for Ethereum, using the soliditySHA3 hashing algorithm. This is a smart contract which follows the original Satoshi Nakamoto whitepaper to form a fundamentally sound trustless currency. This combines the scarcity and fair distribution model of Bitcoin with the speed and extensibility of the Ethereum network. Thus, it is named 0xBitcoin or 0xBTC where 0x represents the Ethereum Network and ecosystem.
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Devcoin: ethically inspired cryptocurrency

A community based around the Devcoin cryptocurrency, an ethically inspired project created to help fund FOSS developers, artists, musicians, writers and more.
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PetroDollar (P$) Community

The PetroDollar (P$): Bringing the gold standard back to the world's oil industry.
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Use weaker hash from strong hash to reduce size ?

Hello,
I was wondering if it would make sense to use a weaker hash algorithm (e.g. MD5 or SHA-1) on a hash generated by a stronger one (e.g. SHA-2, SHA-3) to reduce the storing size of the hash.Every keys will be hashed 2 times (e.g key -> SHA-2 -> MD5).
I was reading The bitcoin block size limit controversy (link) and was wondering if reducing the hash of Previous Block and Merkel Root could reduce the size of a block.
What are the consequences of doing that?

Edit: thank you for all your explanations!
submitted by LutinRose to crypto [link] [comments]

Overwhelmed!

I am not really savvy in coding. So, the sequences of letters and numbers involved are driving me a bit crazy.
Here is what I have done:
Downloaded AwesomeMiner and as a wallet, I used Electrum. Surprisingly, when I check the bitcoin reddit, these two apps are not mentioned. Am I in the wrong track?
Now, in AM app, I used SHA-256 algorithm, BFGMiner(5.4.2), as as a pool, I used bsod mining pool.
BUT, this is what I got:
> [2020-10-16 20:18:53] No devices detected!
> [2020-10-16 20:18:53] Waiting for devices
> [2020-10-16 20:18:53] Probing for an alive pool
> [2020-10-16 20:18:53] Testing pool stratum+tcp://pool.bsod.pw:3333
>
> [2020-10-16 20:18:53] No devices detected!
>
> [2020-10-16 20:18:53] Waiting for devices
>
> [2020-10-16 20:18:53] Probing for an alive pool
Mining Engine Process started, PID: 10480
Even I understand that the mining is not working at all.
Just wondering what should I do now?

However, I check out some video on the bitcoin reddit, so I will start from there.

Any advices are welcome.
submitted by Silberwolfe to BitcoinBeginners [link] [comments]

Checker Thread (A list of hacked clients for easy reference)

Community contribution is the only way this thread will be useful. This is a WIP! More clients will be added as time goes on!
Quick note: The vast majority of these are files supplied by the community -- some may not work. The person who sent me 9b9t says it doesn't work, but I have not personally tested. Please let me know if it works or does not work.

Some additional notes:
I am open to community criticism so long as it can actually be used to benefit the thread. Issues with formatting, approach, client choice, etc. are all great things to come talk to me about so I may improve. However, people keep commenting the same things over and over and over — “VirusTotal can’t catch X” is a popular one — and I don’t have time to deal with it. If you have a security concern, you are more than welcome to raise it. HOWEVER, do not make unreasonable requests of me — I work, in addition to that I have a social life, I have responsibilities at home as well. This is a side thing that I do when I have the time. A lot of people have suggested looking through bytecode to determine if a client is malicious. I do not have the time to do this for every client. If you are willing to help and do more than say “you should do more than you already are, even though you have a job and a life outside of an obscure subreddit,” feel free to DM me. People who take the broken record approach and say things that are already covered in the thread, or refuse to offer help and just post complaints, will be blocked and ignored. I’m all down for making this post better, but I’m not gonna waste my time with people who won’t work with me. Thank you for your help!

BIG THANKS TO u/jpie726 FOR HIS MASSIVE CONTRIBUTIONS! WITHOUT HIM THIS LIST WOULD BE SIGNIFICANTLY LESS EXPANSIVE. GO UPVOTE THIS MAN INTO HEAVEN, HE DESERVES IT!

Eventually I would like to make a Python script that takes care of all the necessary tasks to install these clients. Python itself is available through the Windows Store as well as on Python's website, or through various other installers. It will install any additional dependencies via Pip and will use Curl to retrieve the files. Anyone interested in helping with this script is more than welcome to do so, if you wish. The two options for assisting me would be as follows:
1. You can install Visual Studio Code or Atom and work with me directly through those applications (more details soon™)
2. A GitHub page may be made and you could submit pull requests through that and edit the script alone.

#######################################################################
There is a misconception that I am only here for free paid clients.
1. I can't use a paid client unless I have access to a cracked version, an account, and the HWID bound to said account.
2. People are also saying there's a way for clients to track if someone leaks them. While I suppose this is possible if they bothered to put in the absurd amount of effort it would take, it would give them no benefit and it would do no good as I am not running the software on my desktop -- I am sending the software to VirusTotal, grabbing the SHA-256 checksum, and deleting the file.
3. If all you're going to do is post that "VirusTotal can't catch x" or "muh client" do not waste my time, and don't waste yours. You will be ignored in favor of people who will actually help me construct what I hope to be a megathread for this subreddit, FOR YOU GUYS. I mean jeez, someone's trying to help and half the fucking responses are "muh client" like come on. No wonder this fucking subreddit is dead, sheesh. If someone's trying to help you and you just step on their toes that's just not very cool, not everyone is trying to scam you. I do just be trying to help people who come here doe.
4. If you have concerns, raise them respectfully. Do not attack me, you will be ignored or if I feel so inclined I will give you 110% of the shit you give me right back to you. I will answer questions, I will elaborate on my goals, I will take helpful advice. Everything else will be outright ignored, and misinformation will be countered. That is all, thread below.
#######################################################################

I named this the Checker Thread to make it easy to search for in the subreddit. Enjoy.Below will be a list of hacked clients, with VirusTotal links, SHA-256 hashes, direct download links (skipping ad pages) and eventually features for each client. I'd also like to add what servers they do and don't work on, but I need the community to help with that.
The only client I use is Impact, send me additional clients in the comments and they will be added to this list.

Note about SHA-256 hashes:
SHA-256 hashes are a hash of a file produced algorithmically. This type of hash was developed by the United States National Security Agency, and is typically used to verify that files are what they are supposed to be. Widely used in cryptographic applications such as SSH, APT repositories, transactions on websites, verifying files, Bitcoin, and more. It is very common. This type of cryptographic hash has been in use since 2001. An SHA-256 hash will be the exact same for the same file regardless of the source of the file, so if your hash is different from the one listed here you do not have the legitimate installer OR the hash is not up-to-date.

Note about VirusTotal tests:
Several people have pointed out to me something I feel should be brought up in the main thread. VirusTotal is not a catch-all, just as your typical antivirus software is not a catch-all. It will not catch everything. It should be used as a general guideline only. Clean VirusTotal tests do not guarantee your safety, although if the program passes all ~70 or so antivirus engines it's probably safe to use. Any additional malicious activity should be caught by your antivirus program's heuristics. I take no responsibility for anything that is malicious, but I can say in good conscience that I have done everything I can to ensure that everything on this thread is safe. Keep in mind that programs that trip VirusTotal may still be safe to use, antivirus programs often pick up injectors as malware or Trojans because that's how those types of viruses behave in the real world. Use your best judgement. If your best judgement is not good enough, do not use these programs. You have been warned.

----- C --- L --- I --- E --- N --- T--- S ------ C --- L --- I --- E --- N --- T--- S ------ C --- L --- I --- E --- N --- T--- S -----

Impact | 1.11.2 to 1.15.2 | Java Edition
VirusTotal Link for *.exe Installer | VirusTotal Link for *.jar Installer
SHA-256 Hash: 4EAFFB99759FBD949D0FBEF58AE9CEB45CE8CA2B0D7DC22147D4FF0E46F010EC
Impact triggered 0/72 engines on both installers.
Direct Link to Impact's *.exe Installer | Direct Link to Impact's *.jar Installer
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Sigma | 1.8 to 1.16 | Java Edition
VirusTotal Link for *.jar Installer | VirusTotal Link for the *.zip the Installer is Contained In
SHA-256 Hash for the *.zip file: 3FCD397849358522BF0EEEAF117487DBA860919900A904551DF512BE2C34B48C
Sigma's *.zip file triggered 0/59 engines on the *.zip file.
Sigma's *.jar file triggered 0/60 engines on the *.jar file.
Direct Link to Sigma's *.zip File that Contains the Installer
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9b9t | 1.12.2, needs testing | Java Edition | Forge Mod
VirusTotal Link for the *.jar Forge Mod
SHA-256 Hash: 30E4F2778688D54CE7992AFDE509460A7BDDBDA77800219083D4D12BC696EEA0
9b9t triggered 0/60 engines.
AnonFile link to 9b9t's *.jar Mod
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Ingrosware | 1.12.2 | Java Edition | Forge Mod
VirusTotal Link for the *.jar Forge Mod
SHA-256 Hash: BD1A0F9079F4C834A251163C3A0ECBFF7DFC28AB00CF1C74008AADD042FAD358
Ingrosware triggered 0/59 engines.
AnonFile link to a pre-built *.jar Mod
Note: Ingrosware is open source, and is available on GitHub. If you want to build it yourself, you can do so here.
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Mercury | 1.12.2 | Java Edition | Forge Mod
VirusTotal Link for the *.jar Forge Mod
SHA-256 Hash: 70E585A94218149970410ACAE5BE7C1C1B731140F1AF55FE2D1292B1CA74DCB9
Mercury triggered 0/60 engines.
AnonFile link to Mercury's *.jar Mod
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Atlas | 1.12.2 | Java Edition | Forge Mod | Use with caution!
VirusTotal Link for the *.jar Forge Mod
SHA-256 Hash: 7AEB7220CBD5D7C4E4421A940357F14EC70B18DB905469E288529FE3A2C04D57
Note: The file is called AceHackGold-n3.0-release.jar in VirusTotal. The client is identified as Atlas in the .nfo file it came bundled with.
Atlas triggered 7/59 engines.
Note: Upon closer inspection of the VirusTotal scan, the client appears to be of the injected flavor. Injectors are commonly a false positive Trojan. The client appears to be safe, and there was nothing particularly noteworthy in the VirusTotal scan that is atypical for an injector. While this makes the file appear to be safe, use with caution.
AnonFile Link for the *.jar Mod
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
Note 2: The file downloaded is called AceHackGold-n3.0-release.jar*, I'm not sure why. This file was community-sourced, but it has been inspected in the same manner as all the others*.
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Atom | 1.12.2 | Java Edition | Forge Mod | Use with extreme caution!
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: 3B43F952EB5B14F2B01592057B27E92B0E38B6874EA10B8E893BFCBC71463377
Note: The file is called output.157312297.txt in VirusTotal. In addition, VirusTotal identifies the file type properly (\.zip).*
Atom triggered 9/59 engines.
Note: Upon closer inspection of the VirusTotal scan, the client accesses numerous registry keys, which is a behavior I personally would consider to be unnecessary and incredibly suspicious. You can find more information in the VirusTotal scan. The client also exhibits typical Trojan false-positives.
AnonFile Link for the *.zip File
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
Use this client with extreme caution. There are behaviors that I consider to be extremely suspicious, you must determine for yourself if it's safe to use however. This may just be how the client works. I do not know, and I can't be bothered to test it.
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Aurora | 1.12.2 | Java Edition | Forge Mod
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: 9A66929B629AB076383340D33E0EF9B8CE221679EF79315240EA6C760651A533
Aurora triggered 0/61 engines.
AnonFile Link for the *.zip File
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
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CandyCat | 1.12.2 | Java Edition | Forge Mod | Use with caution!
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: 8CEC2F9F28AA3957504E0CC66BF1516080C7BAC50EADB54DC6DD97E0E6E9C745
CandyCat triggered 9/61 engines.
Note: Upon closer inspection of the VirusTotal scan, the client appears to be of the injected flavor. Injectors are commonly a false positive Trojan. The client appears to be safe, and there was nothing particularly noteworthy in the VirusTotal scan that is atypical for an injector. While this makes the file appear to be safe, use with caution.
AnonFile Link for the *.zip File
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
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DayNightGod | 1.12.2 | Java Edition | Forge Mod | Use with caution!
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: 9CEEB43476B18149C0DA76B7AE94713AAF60ED4D2BFD2339E863CC46A1808A0D
DayNightGod triggered 1/59 engines.
Note: Upon closer inspection, only one engine was triggered. The client did not trigger the usual false-positives of a Trojan, use with caution.
AnonFile Link for the *.zip File
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
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HyperLethal | 1.12.2 | Java Edition | Forge Mod | Use with caution!
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: 77FACC1FDB0415438963CCC8DDB4081958563AAA962CE9C024E5063DA32E8FAD
HyperLethal triggered 2/59 engines.
Note: Upon closer inspection of the VirusTotal scan, the client appears to be of the injected flavor. Injectors are commonly a false positive Trojan. The client appears to be safe, and there was nothing particularly noteworthy in the VirusTotal scan that is atypical for an injector. While this makes the file appear to be safe, use with caution.
AnonFile Link for the *.zip File
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
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LoveClient | 1.12.2 | Java Edition | Forge Mod | Use with extreme caution!
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: C71EC42FF612D75CB7AA21B8400D164A74AAD9BB65D2DFEE232461DAF98034C2
LoveClient triggered 9/61 engines.
Note: Upon closer inspection of the VirusTotal scan, the client accesses numerous registry keys, which is a behavior I personally would consider to be unnecessary and incredibly suspicious. You can find more information in the VirusTotal scan. The client also exhibits typical Trojan false-positives.
AnonFile Link for the *.zip File
Use this client with extreme caution. There are behaviors that I consider to be extremely suspicious, you must determine for yourself if it's safe to use however. This may just be how the client works. I do not know, and I can't be bothered to test it.
------------------------------------------------------------------------------------------------------------------------------------------------

SnowHack | 1.12.2 | Java Edition | Forge Mod
VirusTotal Link for the *.zip the Forge Mod is Contained In
SHA-256 Hash: 7100C8D59CE06B279F7D03D834FC2C361F10BEAE913575FC7EFA74E498167D2C
SnowHack triggered 10/62 engines.
Note: Upon closer inspection of the VirusTotal scan, the client appears to be of the injected flavor. Injectors are commonly a false positive Trojan. The client appears to be safe, and there was nothing particularly noteworthy in the VirusTotal scan that is atypical for an injector. While this makes the file appear to be safe, use with caution.
AnonFile Link for the *.zip File
Note: This is a cracked client! The crack is pre-done, so no additional work is required to use -- just put it in your Forge Mods folder and click play.
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submitted by Daemris to minecraftclients [link] [comments]

RESEARCH REPORT ABOUT ARYACOIN

RESEARCH REPORT ABOUT ARYACOIN
Author: Gamals Ahmed, CoinEx Business Ambassador

https://preview.redd.it/a7jv4azk86u51.jpg?width=1600&format=pjpg&auto=webp&s=e4a4dbb5afacd5747076beaa59e6343b805c3392

ABSTRACT

Aryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain.
The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.

1.INTRODUCTION

The concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions.
When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved.
This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency.
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.

1.1 OVERVIEW ABOUT ARYACOIN

Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details.
Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda.
Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified.
Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin.
Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim.
Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details.
Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time.
According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public.
In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks.
AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by
first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.

1.1.1 ARYACOIN HISTORY

Aryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team.
Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin.
We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said.
Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC.
Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees.
We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.
One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”.
So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.
We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.

1.1.2 ARYACOIN’S MAIN GOAL

Aryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe.
Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.

1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVE

Aryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur.
Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.

1.1.4 BENEFITS OF USING ARYACOIN

Aryacoin solution offers the following benefits:
  • Real-time update: whether you’re going on a holiday or a business trip, no problem. You can access your coins all over the world.
  • Instant operations: Aryacoin makes it quite easy for you to use your digital wallet and perform various operations with it.
  • Safe and secure: all your data is stored encrypted and can only be decrypted with your private key, seed, or password.
  • Strong security: The system has no control over your wallet. You are 100% in charge of your wallet and funds.

1.1.5 ARYACOIN FEATURES

1. Anonymity
The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country .
2. Real Life Usage
aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere.
3. Offline Exchanges
They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the
coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future!
4. Transactions
When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending.
5. Business Partner with Simplex
Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries.
In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020.
Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.

1.1.6 WHY CHOOSE ARYACOIN?

If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!

1.1.7 ARYANA CENTRALIZED EXCHANGE

Aryana, the first Iranian exchange is a unique platform with the following features:
  • The first real international Persian exchange that obtains international licenses and is listed in CoinMarketCap.
  • The first Iranian exchange that has been cooperating with a legal and European exchange for 3 years.
  • The possibility of trading in Tomans (available currency in Iran) at the user’s desired price and getting rid of the transaction prices imposed by domestic sites inside Iran.
  • There is an internal fee payment plan by Iranian domestic banks for depositing and withdrawing Tomans for Aryacoin holders in Aryana Exchange.
  • The number that you see on the monitor and in your account will be equal to the number that is transferred to your bank account without a difference of one Rial.
  • The last but not least, noting the fact that there is a trading in Tomans possibility in Aryana exchange.
Aryana Exchange is using the most powerful, fastest, and most expensive server in the world, Google Cloud Platform (GCP), which is currently the highest quality server for an Iranian site, so that professional traders do not lag behind the market even for a second.
The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline.
The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.

1.1.8 HOW DOES ARYACOIN WORK?

Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.

2. ARYACOIN TECHNOLOGY

2.1 PROOF-OF-WORK

They use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash.
For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it.
The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past
block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.

2.2 NETWORK

The steps to run the network are as follows:
  • New transactions are broadcast to all nodes.
  • Each node collects new transactions into a block.
  • Each node works on finding a difficult proof-of-work for its block.
  • When a node finds a proof-of-work, it broadcasts the block to all nodes.
  • Nodes accept the block only if all transactions in it are valid and not already spent.
This is a very simple system that makes the network fast and scalable, while also providing a decent level of anonymity for all users. Users can send their transactions to any of the public nodes to be broadcast, and the private key of the sender’s address should sign any transaction sent to the nodes. This way, all transaction info remains strictly confidential. It also allows users to send transactions directly to the node from any place at any time and allows the transferring of huge amounts with very low fees.

2.3 AYAPAY PAYMENT SERVICES GATEWAY:

According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world.
This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee.
In other similar systems or even systems such as PayPal, money is stored in the user account.

2.4 CONSENSUS ALGORITHM IN ARYACOIN

The devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.

2.5 DOUBLE-SPEND PROBLEM AND SOLUTION

One of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore
be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.

3. ARYACOIN ROADMAP

April 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected
December 2019: The launch of AYA Pay
April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain.
June 2020: Aryana Exchange goes live, opening more trading opportunities globally
July 2020: The enabling of our Coin Exchanger
November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem
Q1 2021: Alef B goes live (more details coming soon)

4. THE NUCYBER NETWORK COMMUNITY & SOCIAL

Website: https://aryacoin.io/
Explorer: https://explorer.aryacoin.io/
Github: https://github.com/Aryacoin/Aryacoin
Twitter: 1.1k followers https://twitter.com/AryacoinAYA
Reddit: 442 members https://github.com/nucypher
Instagram: 3.8k followers https://www.instagram.com/mrdigicoin/ Telegram: 5.9k subscribers https://t.me/AYA_Global

5. SUMMARY

Aryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.

6. REFERENCES

1) https://coincodex.com/crypto/aryacoin/
2) https://www.icosandstos.com/coin/Aryacoin%20AYA/YuXO60UPF3
3) https://www.publish0x.com/iran-and-cryptocurrency/a-brief-introduction-of-aryacoin-first-ever-iranian-cryptocu-xoldlom
4) https://techround.co.uk/cryptocurrency/aryacoin-the-digital-currency-created-by-iranians/
5) https://bitcoinexchangeguide.com/aryacoin/
6) https://blog.coinpayments.net/coin-spotlight/aryacoin
7) https://guarda.com/aryacoin-wallet
submitted by CoinEx_Institution to Coinex [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to conspiracy [link] [comments]

ACIS-mining and its 3 best algorithms

ACIS-mining and its 3 best algorithms
Hello. 👋🏻 Today we will tell you about ACIS-mining and its 3 best algorithms.
📌 With the advent of ASICs for mining, it became possible to mine Bitcoin in much larger quantities than using video cards. ASIC is an integrated circuit specialized to solve a specific problem, in our case, only for bitcoin mining. These schemes are many times more profitable than video cards, because with more power (hash calculation speed) they consume much less energy. This served as a good reason to create a cryptocurrency mining business.
📌 In bitcoin and other blockchain systems, the complexity of mining depends on how quickly the miners find the block. Compared with the GPU and CPU, specialized #ASIC miners solve #PoW puzzles better and are therefore able to quickly find new blocks.
📌 Since PoW is still the preferred mining consensus mechanism, we propose to take a multiple algorithm approach. Instead of trying to use algorithms which are ASIC resistant, we propose to use algorithms which have had ASIC miners for quite some time. These are: #SHA256, #Scrypt, and #X11.
🔹 The SHA-256 algorithm has a number of advantages over other information protection technologies. Over the years of use in the cryptocurrency industry, he has shown his resistance to various hacking attempts.
🔹 Scrypt is a cryptocurrency mining algorithm that was previously interesting to many single miners in view of its resistance to the so-called “hardware attack”. The speed of creating blocks in a Scrypt-based blockchain is about 30 seconds. The hashrate, like Ethash, is measured in Megahash per second. Scrypt, first of all, became popular due to its use in Litecoin #cryptocurrency.
🔹 X11 is an encryption algorithm in which eleven are used instead of one function. This means that this technology can provide a high degree of security, because in order to harm the system, an attacker will have to crack all 11 functions, which is very unlikely, because the changes made will be visible after breaking the first function, and developers will have a lot of time to protect the system before the hacker reaches the eleventh function.
Since these miners are already in wide use, the distribution of mining should be fair and even. Furthermore, the use of three different algorithms results in a far less chance of any single person gaining a majority hash rate share. Lastly, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining.
Read more about PYRK mining solutions here: https://www.pyrk.org
Read our Whitepaper to know more about the project:
https://www.pyrk.org/Pyrk-Whitepaper.pdf
https://preview.redd.it/rxmlr7wt1k251.png?width=1200&format=png&auto=webp&s=162f9ddaacb3cf3e137638464a208bdf25e50a21
submitted by VS_community to pyrk [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to CryptoCurrency [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Money [link] [comments]

This is just a theory. What do you guys think?

Just theory if Satoshi wrote the name of the creator which would be 256th puzzle of a puzzle game 14 years ago, and the card has written "find me" in Japanese at side forming this puzzle. Just for looking this picture is it possible to find this gentleman on the internet as the location from the picture been discovered " Kaysersberg, Alsace, France". It would be a great coincidence if the owner of the 256th card was really Satoshi in a ranking of 256 cards? This will be very important figure for 256 Bitcoin value. People might on here might ask why and explain your theory? Well just for a explanation this puzzle is complex and if his card is 256th puzzle card and is a value of 256. What if the answer is 2SHA256 which SHA stands for Secure Hash Algorithm that Bitcoin has been using for mining and address generation. This hash is one of those high security cryptography functions and also the length would have data fix that might contribute of harmony between these blocks.
1.) For example, word would be "squanch" with SHA256 encryption -> “5bfdd901369fbb2ae5052ab5307c74f97651e09bd83e80cf3153952bb81cc7b8”.
2.) satoshi -> DA2876B3EB31EDB4436FA4650673FC6F01F90DE2F1793C4EC332B2387B09726F
3.) Satoshi -> 002688CC350A5333A87FA622EACEC626C3D1C0EBF9F3793DE3885FA254D7E393
** you can play around with it => https://passwordsgenerator.net/sha256-hash-generato **
SHA256 with its code consist 32 bits and 64 digits, so we should not get too far from solving this puzzles some how if this was an method of solving this question via value. Also, the puzzle from this game began in which is called "The city of Perplex". This game has a original concept and also promise reward $200,000 when all the puzzles on the cards are solved. But, think about it f the 256th card is Satoshi that has not been solved it has not been resolved on card number 238. As you can imagine, the 256th card, which is “Satoshi”, has not been resolved. Otherwise, it has not been resolved on card number 238. Hint that our card gives to everyone to solve the puzzle is “ My name is Satoshi ...”. Needless to say with the game has been on the market since 1-2 years before the generation of Bitcoin and Crypto has started. Although I"m also thinking the man might not be Satoshi as his a player, so looking that either looks and style similar is only hope.
submitted by LeftSubstance to FindSatoshi [link] [comments]

Review and Prospect of Crypto Economy-Development and Evolution of Consensus Mechanism (2)

Review and Prospect of Crypto Economy-Development and Evolution of Consensus Mechanism (2)

https://preview.redd.it/a51zsja94db51.png?width=567&format=png&auto=webp&s=99e8080c9e9b1fb5e11cbd70f915f9cb37188f81
Foreword
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
Contents
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Chapter 3 Common Consensus Mechanisms (Part 1)
Figure 6 Summary of relatively mainstream consensus mechanisms
📷
https://preview.redd.it/9r7q3xra4db51.png?width=567&format=png&auto=webp&s=bae5554a596feaac948fae22dffafee98c4318a7
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
》POW
-Concept:
Work proof mechanism. That is, the proof of work means that it takes a certain amount of computer time to confirm the work.
-Principle:
Figure 7 PoW work proof principle
📷
https://preview.redd.it/xupacdfc4db51.png?width=554&format=png&auto=webp&s=3b6994641f5890804d93dfed9ecfd29308c8e0cc
The PoW represented by Bitcoin uses the SHA-256 algorithm function, which is a 256-bit hash algorithm in the password hash function family:
Proof of work output = SHA256 (SHA256 (block header));
if (output of proof of work if (output of proof of work >= target value), change the random number, recursive i logic, continue to compare with the target value.
New difficulty value = old difficulty value* (time spent by last 2016 blocks /20160 minutes)
Target value = maximum target value / difficulty value
The maximum target value is a fixed number. If the last 2016 blocks took less than 20160 minutes, then this coefficient will be small, and the target value will be adjusted bigger, if not, the target value will be adjusted smaller. Bitcoin mining difficulty and block generation speed will be inversely proportional to the appropriate adjustment of block generation speed.
-Representative applications: BTC, etc.
》POS
-Concept:
Proof of stake. That is, a mechanism for reaching consensus based on the holding currency. The longer the currency is held, the greater the probability of getting a reward.
-Principle:
PoS implementation algorithm formula: hash(block_header) = Coin age calculation formula: coinage = number of coins * remaining usage time of coins
Among them, coinage means coin age, which means that the older the coin age, the easier it is to get answers. The calculation of the coin age is obtained by multiplying the coins owned by the miner by the remaining usage time of each coin, which also means that the more coins you have, the easier it is to get answers. In this way, pos solves the problem of wasting resources in pow, and miners cannot own 51% coins from the entire network, so it also solves the problem of 51% attacks.
-Representative applications: ETH, etc.
》DPoS
-Concept:
Delegated proof of stake. That is, currency holding investors select super nodes by voting to operate the entire network , similar to the people's congress system.
-Principle:
The DPOS algorithm is divided into two parts. Elect a group of block producers and schedule production.
Election: Only permanent nodes with the right to be elected can be elected, and ultimately only the top N witnesses can be elected. These N individuals must obtain more than 50% of the votes to be successfully elected. In addition, this list will be re-elected at regular intervals.
Scheduled production: Under normal circumstances, block producers take turns to generate a block every 3 seconds. Assuming that no producer misses his order, then the chain they produce is bound to be the longest chain. When a witness produces a block, a block needs to be generated every 2s. If the specified time is exceeded, the current witness will lose the right to produce and the right will be transferred to the next witness. Then the witness is not only unpaid, but also may lose his identity.
-Representative applications: EOS, etc.
》DPoW
-Concept:
Delayed proof of work. A new-generation consensus mechanism based on PoB and DPoS. Miners use their own computing power, through the hash algorithm, and finally prove their work, get the corresponding wood, wood is not tradable. After the wood has accumulated to a certain amount, you can go to the burning site to burn the wood. This can achieve a balance between computing power and mining rights.
-Principle:
In the DPoW-based blockchain, miners are no longer rewarded tokens, but "wood" that can be burned, burning wood. Miners use their own computing power, through the hash algorithm, and finally prove their work, get the corresponding wood, wood is not tradable. After the wood has accumulated to a certain amount, you can go to the burning site to burn the wood. Through a set of algorithms, people who burn more wood or BP or a group of BP can obtain the right to generate blocks in the next event segment, and get rewards (tokens) after successful block generation. Since more than one person may burn wood in a time period, the probability of producing blocks in the next time period is determined by the amount of wood burned by oneself. The more it is burned, the higher the probability of obtaining block rights in the next period.
Two node types: notary node and normal node.
The 64 notary nodes are elected by the stakeholders of the dPoW blockchain, and the notarized confirmed blocks can be added from the dPoW blockchain to the attached PoW blockchain. Once a block is added, the hash value of the block will be added to the Bitcoin transaction signed by 33 notary nodes, and a hash will be created to the dPow block record of the Bitcoin blockchain. This record has been notarized by most notary nodes in the network. In order to avoid wars on mining between notary nodes, and thereby reduce the efficiency of the network, Komodo designed a mining method that uses a polling mechanism. This method has two operating modes. In the "No Notary" (No Notary) mode, all network nodes can participate in mining, which is similar to the traditional PoW consensus mechanism. In the "Notaries Active" mode, network notaries use a significantly reduced network difficulty rate to mine. In the "Notary Public Activation" mode, each notary public is allowed to mine a block with its current difficulty, while other notary public nodes must use 10 times the difficulty of mining, and all normal nodes use 100 times the difficulty of the notary public node.
Figure 8 DPoW operation process without a notary node
📷
https://preview.redd.it/3yuzpemd4db51.png?width=500&format=png&auto=webp&s=f3bc2a1c97b13cb861414d3eb23a312b42ea6547
-Representative applications: CelesOS, Komodo, etc.
CelesOS Research Institute丨DPoW consensus mechanism-combustible mining and voting
》PBFT
-Concept:
Practical Byzantine fault tolerance algorithm. That is, the complexity of the algorithm is reduced from exponential to polynomial level, making the Byzantine fault-tolerant algorithm feasible in practical system applications.
-Principle:
Figure 9 PBFT algorithm principle
📷
https://preview.redd.it/8as7rgre4db51.png?width=567&format=png&auto=webp&s=372be730af428f991375146efedd5315926af1ca
First, the client sends a request to the master node to call the service operation, and then the master node broadcasts other copies of the request. All copies execute the request and send the result back to the client. The client needs to wait for f+1 different replica nodes to return the same result as the final result of the entire operation.
Two qualifications: 1. All nodes must be deterministic. That is to say, the results of the operation must be the same under the same conditions and parameters. 2. All nodes must start from the same status. Under these two limited qualifications, even if there are failed replica nodes, the PBFT algorithm agrees on the total order of execution of all non-failed replica nodes, thereby ensuring security.
-Representative applications: Tendermint Consensus, etc.
Next Lecture: Chapter 3 Common Consensus Mechanisms (Part 2) + Chapter 4 Consensus Mechanism Selection and Status Summary
CelesOS
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.

📷Website
https://www.celesos.com/
📷 Telegram
https://t.me/celeschain
📷 Twitter
https://twitter.com/CelesChain
📷 Reddit
https://www.reddit.com/useCelesOS
📷 Medium
https://medium.com/@celesos
📷 Facebook
https://www.facebook.com/CelesOS1
📷 Youtube
https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
submitted by CelesOS to u/CelesOS [link] [comments]

Looking for Technical Information about Mining Pools

I'm doing research on how exactly bitcoins are mined, and I'm looking for detailed information about how mining pools work - i.e. what exactly is the pool server telling each participating miner to do.
It's so far my understanding that, when Bitcoins are mined, the following steps take place:
  1. Transactions from the mempool are selected for a new block; this may or may not be all the transactions in said mempool. A coinable transaction - which consists of the miner's wallet's address and other arbitrary data - that will help create new Bitcoin will also be added to the new block.
  2. All of said transactions are hashed together into a Merkle Root. The hashing algorithm is Double SHA-256.
  3. A block header is formed for the new block. Said block header consists of a Version, the Block Hash of the Previous Block in the Blockchain, said Merkle Root from earlier, a timestamp in UTC, the target, and a nonce - which is 32 bits long and can be any value from 0x00000000 to 0xFFFFFFFF (a total of 4,294,967,296 nonce values in total).
  4. The nonce value is set to 0x00000000, and said block header is double hashed to get the Block Hash of the current block; and if said Block Hash starts with a certain number of zeroes (depending on the difficulty), the miner sends the block to the Bitcoin Network, the block successfully added to the blockchain and the miner is awarded with newly created bitcoin.
  5. But if said Block Hash does not start with the required number of zeroes, said block will not be accepted by the network, and the miner Double Hashes the block again, but with a different nonce value; but if none of the 4,294,967,296 nonce values yields a Block Hash with the required number of zeroes, it will be impossible to add the block to the network - and in that case, the miner will either need to change the timestamp and try all 4,294,967,296 nonce values again, or the miner will need to start all over again and compose a new block with a different set of transactions (either a different coinable transaction, a different set of transactions from the mempool, or both).
Now, what I'm trying to figure out is what exactly each miner is doing differently in a mining pool, and if it is different depending on the pool.
One thing I've read is that a mining pool gives each participating miner a different set of transactions from the mempool.
I've also read that, because the most sophisticated miners can try all 4,294,967,296 nonce values in less than a fraction of a second, and since the timestamp can only be updated every second, the coinbase transaction is used as a "second nonce" (although, it is my understanding that, being part of a transaction, if this "extra nonce" is changed, all the transactions need to be double hashed into a new Merkle Root); and I may have read someplace that miners could also be given the same set of transactions from the mempool, but are each told to use a different set of "extra nonce" values for the coinbase transaction.
Is there anything else that pools tell miners to do differently? Is each pool different in the instructions it gives to the participating miners? Did I get anything wrong?
I want to make sure I have a full technical understanding of what mining pools are doing to mine bitcoin.
submitted by sparky77734 to Bitcoin [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to economy [link] [comments]

Step by Step Guide to Starting Smart Mining of ViaBTC

Step by Step Guide to Starting Smart Mining of ViaBTC
In order to help our miners to get the best possible profits, now we present you the step by step guide to starting Smart Mining of ViaBTC. No time for hesitation, try Smart Mining now!
Smart mining consists of two different mining modes, namely as “Manual Switch” and “Auto Switch”.
Auto Switch provides an automated way of profitable mining using the designated algorithm to monitor the real-time status of possible returns. In comparison to manual switch, it’s more flexible and easier to keep tracking of your mining returns.
1.
Enable Auto Switch
It now supports BTC、BCH and BSV, besides, your assets in your account can also be converted into BTC on an hourly basis automatically.
Before enabling auto switch mode, you’re required to configure smart mining URL: stratum+tcp://bitcoin.viabtc.com:3333;
Enable Manual Switch
This supports Bitcoin pool (BTC, BCH, BSV, FCH) and Ethereum pool (ETH, ETC).
One-click switch address is different from the stratum URL for a specified coin. Details for one-click switch URL are listed as following: BTC/BCH/BSV/FCH: stratum+tcp://bitcoin.viabtc.com:3333 ETH/ETC: stratum+tcp://ethereum.viabtc.com:3333 Noted: Port 25 or 443 is available as an alternative option.
2.
Go to www.viabtc.com then click [Settings] from the drop-down menu on your right hand side.
https://preview.redd.it/6rvece3anm551.png?width=1400&format=png&auto=webp&s=bf1365d690542a9d49712fecf1c117e5e94c74f4
Click [Switch mining pool] under the [Mining Settings] to select a new coin type.

https://preview.redd.it/8ag76racnm551.png?width=1400&format=png&auto=webp&s=2b79ffb7dfde4e0b7ab51bb584815a1b8b91f30c
Select “Mode” and “Coin Type”
https://preview.redd.it/7zmjh3ienm551.png?width=1400&format=png&auto=webp&s=2c2ff5f99265402def95717f4a28de71ffe17b32
Frequently Asked Questions
What is the unique feature of Auto Switch compares to Manual Switch? It’s more flexible and easy to set up, SHA-256 mining algorithm compatible.
How long will it take to be activated after enabling Auto Switch? Once Auto Switch is on, system will monitor the possible return rate of all compatible coins using a designated algorithm and switch to the one with higher profits, you may go to the Pool panel for more accurate mining status.
Why I can’t see my earnings increased after enabling Auto Switch mode? Auto Switch mode demands high-efficiency when it switch between the current mined coins to the new one with possible high returns, specified using designated algorithm and current difficulty, thus it’s not a guarantee pass for high returns when “Auto Switch” is on.
Is there any requirements of MIN. limit of hashrate before enabling Auto Switch? There is no minimum limit of hashrate in your account before enabling Auto Switch in your account.
Which type of coins are supported in Auto Switch mode? Currently all types of coins in Bitcoin Pool are supported in Auto Switch mode, including BTC, BCH and BSV.
When will the mining rewards distributed to my account? Rewards distribution are varies for different mining modes, and distribution time remained unchanged compares to the one in Manual Switch mode.
Can I use part of hashrate to mine a designated coin after enabling Auto Switch? After enabling Auto Switch, hashrate connecting to your account will switch from one to the other automatically using a designated algorithm.
Will I receive hashrate fluctuation notification after enabling Auto Switch? You’re required to set hashrate fluctuation notification for all compatible coins by the time enabling Auto Switch, more detailed guideline can be found here.
How to check your current mining preference?
Go to www.viabtc.com first then enter [Pool] panel to check your current mining preference.
When should I change my mining preference?
It is recommended to use profit calculator to get a general idea of the theoretical earnings outcome when selecting mining preference.
submitted by ViaBTC to BitcoinMining [link] [comments]

What is Blockchain Technology?

What is Blockchain Technology?
The original article appeared here: https://www.securities.io/what-is-blockchain-technology/
Its been almost ten years since Satoshi Nakamoto first introduced Blockchain technology to the world in his 2008 Bitcoin Whitepaper. Since that time, these revolutionary networks have gained popularity in both the corporate and governmental sectors. This growth is easily explained when you consider that blockchain technology provides the world with some unique advantages that were previously unimaginable. Consequently, today, you can find blockchain technology in nearly every sector of the global economy.

What is Blockchain Technology?

A blockchain is a network of computers that share a distributed ledger across all network participants (nodes). This strategy is far different than say, fiat currencies that originate from a centralized authority figure. Importantly, this ledger keeps an unbroken chain of transactions since the birth of the network. This “chain” of transactions grows larger as new “blocks” of transactions are approved and added to it.
Bitcoin Whitepaper
In order to approve new transactions, each node works together with others to validate new blocks. Additionally, the nodes also validate the current state of the entire blockchain. In order for a new block of transactions to be added to the blockchain, they must receive approval from 51% of the network’s nodes. Nodes are also referred to as miners. In this manner, blockchain networks are decentralized networks that provide unmatched security to the world of digital assets.

Security via Decentralization

Decentralization is an important aspect of blockchain technology because it makes these revolutionary ledgers immutable and unalterable. In fact, since there is no centralized attack vector, hacking a blockchain is nearly impossible. The larger the blockchain network, the more secure the data on it remains.
For example, let’s look at the world’s largest blockchain, Bitcoin. Currently, the Bitcoin blockchain has over 10,000 active nodes located across the globe. This distribution means that in order for an attacker to alter even just one tiny piece of information on the blockchain, they would need to successfully hack 5,000+ computers at once.
While this task may not be impossible for the quantum computers of the future, it’s so unprofitable that it makes no sense to even attempt such a monumental task. Additionally, on top of successfully hacking 5000+ computers at once, an attacker would also need a supercomputer to recalculate the new blockchain transactions in time to introduce them into the network. It would literally be more affordable to create a new cryptocurrency from scratch.

Consensus Mechanisms

One of the reasons why blockchain networks are so secure is the integration of consensus mechanisms. Consensus mechanisms are cryptographic protocols that leverage the participants of a blockchain network in securing its data. In the case of Bitcoin, the Proof-of-Work (PoW) consensus mechanism is used.

Proof-of-Work (PoW)

The Proof-of-Work consensus mechanism was revolutionary to the world of cryptography when it was first introduced years prior by Adam Back in his Hashcash whitepaper. In the concept, Back describes the integration of a mathematical equation to the network’s security protocols. In this way, every computer can show “proof” of their work securing the network.

Miner Rewards

It’s important to understand that nodes receive a reward for their mining efforts. These rewards adjust automatically depending on the network’s difficulty and value. In the case of Bitcoin, miners originally received 50 Bitcoin for their efforts. Today, this seems like fortune, but back in 2009, Bitcoin was only worth pennies. As the value of the token rises and the network goes, the mining rewards shrink. Today, Bitcoin miners receive 6.5 BTC if they add the next block to the chain.

SHA-256

Notably, every node validates and secures the blockchain, but only one gets to add the next block of transactions to the network. To determine who the next miner is that gets to add this block, every computer competes in a mathematical race to figure out the PoW equation. In the case of Bitcoin, the equation is known as SHA-256. Importantly, the first SHA algorithm dates back to Hashcash. This early version of the equation was known as SHA-1.
Notably, the SHA-256 equation is so difficult that it’s easier and more efficient for your computer to just make random guesses rather than attempting to figure out the equation directly. The answer to the equation must begin with a predetermined amount of 0s. In the Bitcoin blockchain, the equation’s answer must start with four zeros. However, if the network’s congestion rises, so does the difficulty of these equations. This difficulty adjusts by the addition of another zero at the beginning of the required SHA-256 answer.
Similarly to traditional commodities such as gold, there are costs that are associated with the creation and introduction of these digital assets into the market. These random guesses utilize intense computational power. This power equates to real-world costs such as electricity bills. Studies have shown that securing the Bitcoin network can use more electricity than required by entire countries. Luckily, over 80% of Bitcoin’s power consumption comes from renewable sources such as solar or hydroelectric. This cost of mining also adds measurable value to each Bitcoin.

Miners

As Bitcoin began to gain in profitability, its network’s computing power expanded significantly. In the beginning, nodes, also known as miners, could mine for Bitcoin using nothing more than your home PC. Eventually, miners realized that graphic cards were far better at the repetitive guessing required to figure out the SHA-256 algorithm. This led to a computational race in the market.

ASIC

Eventually, large blockchain firms such as Bitmain introduced Application Specific Integrated Circuit (ASIC) miners into the equation. These purpose-built miners were thousands of times more efficient at guessing the SHA-256 algorithm than the GPUs and CPUs before them. Consequently, their introduction created a scenario in which the average miner now needed to invest thousands in mining equipment to stay relevant.

Mining Pools

Luckily, some creative minds in the field began to think of ways to level the playing field out again. They developed “mining pools.” A mining pool is a network of miners that all share computational power for the common goal of mining blockchain transactions. Importantly, mining pool participants receive a percentage of the reward based on their contributions to the network’s overall hash (computational power).
Importantly, over the last three years, there has been a push to move away from power-hungry consensus mechanisms such as PoW. This desire to secure blockchains in a more efficient manner has led to the development of some truly unique consensus mechanisms in the sector.

Proof-of-Stake (PoS)

The Proof-of-Stake mechanism does away with the difficult mathematical algorithms and instead utilizes a more psychological approach to securing the network. In a PoS blockchain, users don’t need to compete mathematically to add the next block to the blockchain. Instead, PoS users “stake” their coins via network wallets to secure the network. The way staking works is simple.
Keeping a certain amount of coins in your wallet allows you to participate in transaction validations. The more coins you stake, the more likely the chances are you get to add the next block of transactions to the network. In most PoS systems, a miner from those with the most tokens staked at the time receives the chance to add the blocks.
The advantages of a PoS consensus mechanism are immediately evident. For one, you don’t need to pour tons of resources into your network to keep it safe. Additionally, since nodes are chosen based on their amount of staked coins, there is never a scenario in which a node gains anything from validating incorrect transactions. Basically, a hacker would have to fully invest in the cryptocurrency prior to attacking the network. In this way, PoS systems create a huge deterrent to attackers.

The Future of Blockchain Technology

Blockchain technology has come a long way from its early days as a means to secure cryptocurrency networks. Today, blockchain technology has numerous uses across every type of industry imaginable. Specifically, blockchain programs have impacted the logistical, financial, and data security sectors in a major way.

Blockchain Technology Logistics

Blockchain logistical systems are more efficient and cost-effective to operate than traditional paper-based models. In fact, the immutable and unalterable nature of blockchain tech makes it ideally suited to logistical tasks. Soon, you may be able to ascertain much more information regarding the creation and delivery of your products thanks to these new-age systems emerging.

Fundraising

Blockchain technology has also altered the way in which businesses raise funds. In a traditional corporate crowdfunding strategy such as an IPO, companies must balance between cost-effectiveness and participation. The inability to process smaller transactions meant that for the longest time, companies had to turn away potential investors. Nowadays, blockchain technology enables businesses to easily automate these procedures via smart contracts.

Smart Contracts

Smart Contracts feature preprogrammed protocols that execute when they receive a certain amount of cryptocurrency sent to their address. These contracts live on the blockchain and enable remarkable functionality. For example, in the case of fundraising, a smart contract can automate processes such as the approval of investors and the distribution of funds.

Blockchain Technology Today

You can expect to see further expansion of the blockchain sector in the coming months as more governments and institutions explore its benefits. For now, the blockchain revolution is well underway.
submitted by BlockDotCo to u/BlockDotCo [link] [comments]

Introduction to Bitterfly: Butterfly Matrix Entropy Weight Consensus Algorithm

When Bitcoin launched 11 years ago, Satoshi Nakamoto had the vision of giving people power over their money. His vision lives on through BTC. However, the Bitcoin network has a few flaws. One of those flaws is the Proof of Work mechanism. Mining Bitcoin requires a huge amount of resources that are out of reach for most ordinary people. The result is that the BTC network is increasingly being placed in centralized control.The Bitterfly project hopes to change that using a revolutionary consensus mechanism called the Buttery that will be used on the Bitterfly blockchain.
About Bitterfly
Bitterfly wants to continue the vision that Nakamoto had for Bitcoin. The goal is to give power back to the people and place them in control of their finances. To do this, the Bitterfly team is working on three main areas that require improvement:
· The consensus mechanism
· The blockchain performance
· Community Governance
The Consensus Mechanism
To improve the consensus mechanism, the team behind Bitterfly has created the Butterfly algorithm that they will add to the PoW mechanism. Not only can it ensures that the hash rate is obtained fairly, it ensures that the hash rate of the whole network is enhanced via the butterfly effect.
Performance
In terms of performance, the Bitterfly blockchain has been upgraded to have a confirmed commercial speed of 5000TPS. Bitterfly is designed as a Blockchain As a Service open-source platform, which can be used in different applications.
Bitterfly will support different types of computing services that include cloud servers. As a result, it will utilize idle server resources to boost the hash rate support for the network.
Community Governance
When it comes to community Governance, Bitterfly plans to introduce a node competition mechanism that will release 210 nodes over time to enhance the butterfly effect. First, they will introduce the nodes via the Butterfly matrix network. Later, they will do so via a fair elimination process. The goal is to ensure that the nodes contribute to the success of Bitterfly.
The Encryption Algorithm
Encryption and decryption of data are at the core of the operation of any blockchain. It helps to guarantee the security of the whole blockchain. Only a corresponding private key can unlock data encrypted using a public key.
In most blockchains, the Hash Function and the Asymmetric Key Encryption Algorithm are used to encrypt and decrypt data. For the Hush Function, the main algorithms used are SHA and MD5.Bitterfly uses the SHA256 algorithm for encryption and RSA, DSA, and Elliptic curve algorithms for decryption. For the verification phase, Bitterfly developed the DFLYSChnorr, which is based on the SCHNOOR algorithm.
Consensus Algorithm
The consensus mechanism is used in the blockchain to ensure that each transaction is accurate. Bitterfly plans to operate within the enterprise space, which requires comprehensive and heterogeneous systems that are integrated with various communication protocols.
To deal with the challenges that might arise, Bitterfly developed a two-layer consensus algorithm for the PoW mechanism called the PBFT algorithm. Here is how the Bitterfly algorithm works:
· The network Structure
Bitterfly is designed as an internet payment and application protocol that is based on embracing the digital economy. It can facilitate value storage as well as the decentralized exchange of digital assets, payments, as well as clearing functions. Within Bitterfly, everyone can participate in productively. It will place a huge demand on Bitterfly. The network will offer performance guarantees as well as smart contracts.
· Bitterfly Consensus Algorithm
To meet the goal of decentralization and security, Bittefly wants to become a global computer instead of a P2P information system. Besides satisfying the decentralization and security needs of its users via PoW, the system will also need to perform at a high level.
As a result, the team opted to support smart contracts in commercial applications. To deal with the issue of energy consumption, the team came up with the Butterfly algorithm. The algorithm allows the use of PoW as well as other cross-chain methods such as the Layer 2 protocol. Confirmation of transactions is done via verification nodes.
Each node is preconfigured with a list of trusted nodes known as the Consensus Achievement List (CAL). The node list can be used to confirm transactions. Once a transaction is confirmed with the local ledger, it is integrated into the transaction candidate set while all illegal ones are discarded.
To improve the security of the network, the verification confirmation was raised to 60% unlike in other networks where it is 50% +1. A transaction is officially confirmed once it is confirmed by 80% of the CAL nodes. The process is known as the Last Closed Ledger, which represents the latest changes to the ledger.
Within Bitterfly, the identities of those taking part in the confirmation of transactions are known beforehand. AS a result, transactions are faster and the blockchain is more efficient.
Butterfly Matrix Entropy Weight Algorithm
Entropy is used to measure the level of uncertainty in the system. Bitterfly built a way to establish consensus using multiple factors. In the network, each data set has a corresponding weight.
Summary
For the past 11 years, Bitcoin has enjoyed tremendous success. The launch of Bitcoin ushered in a new era for humanity. For the first time in history, decentralized money that is outside the control of governments and other central entities is possible.
The new type of money gives people the power to control their finances and avoid the harsh effects of inflation caused by the wanton printing of government currency. When a new economic downturn hit the global economy, Bitcoin failed the litmus test. While Bitcoin should have helped to save people’s finances as the money printing began, it seemed to have followed the same trend as the sinking global economy.
It revealed that BTC still had numerous weaknesses that need to be corrected. Bitterfly wants to build on what Bitcoin has accomplished and do more with it. The team behind this project is quite optimistic. They believe that they can achieve what Bitcoin has achieved in the past 11 years. Besides that, they believe they can achieve where Bitcoin has failed in those past 11 years.
Social Media Links
TWITTER: https://twitter.com/BitterflyD
MEDIUM: https://medium.com/@BitterflyD
YOUTUBE: https://www.youtube.com/channel/UCxSNCzuQsNj-oCgepxzoXQg
TELEGRAM: https://t.me/Bitterfly_Disciples
submitted by Bitterfly_Disciples to u/Bitterfly_Disciples [link] [comments]

From Chaos, Comes Order

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts...
Let's start with the virus.

Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...

Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!

Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.

Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to Bitcoin [link] [comments]

From Chaos, Comes Order

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.
Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...
Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!
Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.
Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to conspiracy [link] [comments]

Climate Change is real, but its manufactured. Weather is the new battlefield

(GlobalIntelHub.com New York, NY) — 2/12/2020 — The US Military has become an entity with a mind of it’s own; despite efforts to curtail it’s expansion by activists and politicians, it continues to grow. Years ago a small problem arose that posed an existential threat to the system, the enemies were all defeated. The real hero of the Cold War is Richard Nixon, and his mentor Henry Kissinger, who created a financial system whereby the US Dollar was backed by bombs only, which allowed the USD to expand its balance sheet with no accountability. This ultimately allowed the US to outspend the Soviets and other enemies into oblivion, and the strategy finally worked. With the elimination of real enemies, the strategy planners inside the DOD knew they needed to create more enemies, and thus the ‘terrorist’ was born. Now that terrorists have been defeated to the point of irrelevancy, we need new and modern enemies to fight.
Enter where we are now, an age of weaponized weather and biowarfare, cyberwar and other forms of information war. Let’s first discuss Bioweapons, and how it pertains to Coronavirus. The US Military has been spending billions on Bioweapons (both offensive and defensive) for the last 20 years. We’re not going to quote numbers as part of the budget is likely part of the ‘black budget’ but some estimates have it as high as $100 Billion over a period of 20 years. There are thousands of scientists working on various forms of biowarfare. So the question remains, if they are spending all this money, what are they doing with it?
For those who understand the US Government budget policy in general, there is a ‘use it or lose it’ ethos which means if you don’t buy new computers every year your budget will be cut. If you don’t spend allocated funds they will be cut. So they spend them to the max, often some of the funds go towards ‘justification research’ to justify, perhaps in front of Congress or in a public report, why the spending is ‘vital to national security.’
But with Coronavirus spreading around Asia, a more deadly and more disruptive force is being overlooked: Weather modification. Climate Change is real but it’s not due to factors that are commonly believed (factories, traffic, cow farts). Climate Change is the scapegoat for what’s really going on: Weather Wars, weather modification, terraforming, and manipulation of the entire planet on a biological and chemical level. As you will see, this is intertwined with Coronavirus in ways you wouldn’t at first imagine.
If you believe in fairy tales including what’s on TV, you can stop reading now as this will only damage your brain and may cause you to seek medical help. WARNING: PARENTAL DISCRETION ADVISED
The US Military spends billions on R&D development through front end organizations like Darpa, InQTel, Navy Research (ONR), just to name a few. You may be surprised to learn that they not only develop technologies, but also patent them, sell them at a profit, and even participate in Venture Capital. Inside Silicon Valley there has been a program since World War 2 that drip-leaks next generation technology to Silicon Valley after it no longer has Military use (or when it’s no longer a strategic advantage, such as the internet). One of the most well known operations is the Parc labs, currently owned by Xerox.
Technologies leaked to corporate America include the microprocessor, kevlar, lasers, fiber optics, the ‘mouse’ GUI system for personal computers, and many more.
The 90’s was a success not because of Bill Clinton, it was because of a number of global geopolitical factors such as the falling of the Soviet Union, and the deregulation of the internet and proliferation for civilian use.
Let’s look at some notable patents held by the US Military apparatus. The NSA has patented thousands of encryption technologies, but the most ironic patent held is SHA 256 encryption algorithm, the technology that is behind Bitcoin.
Or perhaps it’s not so ironic, perhaps the NSA was funding Bitcoin as a surveillance mechanism all along, as it has recently been revealed the CIA owned one of the world’s most well known encrypted communications services based in Switzerland, Crypto AG.
What other interesting patents are held by the US Military? To the point of this article, 20100072297 is a “Method for Controlling Hurricanes.” You can see a long list of weather related patents held by the USG at the end of this article. But if you want evidence of weather manipulation, just look up in the sky.
If you believe this is ‘contrails’ from a plane, here’s an explanation from an expert:
For the record, all US military jet air tankers and all commercial jet carriers are equipped with “Hi Bypass Turbofan” jet engines which are by design nearly incapable of producing condensation trails except under rare and extreme conditions. The trails we increasingly see in our skies are the result of sprayed dispersions related to climate engineering, not condensation.
https://globalintelhub.com/climate-change-real-manufactured-weather-battlefield/
submitted by preiposwap to conspiracy [link] [comments]

Bitcoin and Meritocratic Capitalism

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Capitalism [link] [comments]

C# MD5 & SHA 256 Hash Demo Secure Hash Algorithm Explained (SHA) What is a Bitcoin hash and SHA-256 - YouTube what is SHA-256 Algorithm  mining Algorithm SHA256 Code Animation

SHA-3 (Secure Hash Algorithm Version 3), auch Keccak genannt, ist eine unidirektionale Funktion zum Erzeugen digitaler Ausdrucke der ausgewählten Länge (der Standard akzeptiert 224, 256, 384 oder 512 Bit) aus Eingabedaten beliebiger Größe, die von a entwickelt werden Gruppe von Autoren, die 2008 von Yoan Dimen geleitet und 2015 als neuer FIPS-Standard angenommen wurde. In this article, we are going to break down each step of the algorithm as simple as we can and work through a real-life example by hand. SHA-2 is known for its security (it hasn’t broken down like SHA-1), and its speed. In cases where keys are not being generated, such as mining Bitcoin, a fast hash algorithm like SHA-2 often reigns supreme. As I said earlier, SHA stands for Secure Hashing Algorithm. SHA-1 and SHA-2 are two different versions of that algorithm. They differ in both construction (how the resulting hash is created from the original data) and in the bit-length of the signature. You should think of SHA-2 as the successor to SHA-1, as it is an overall improvement. Primarily, people focus on the bit-length as the ... SHA-3 (Secure Hash Algorithm Version 3), also called Keccak, is a unidirectional function for generating digital prints of the selected length (the standard accepts 224, 256, 384 or 512 bits) from input data of any size, developed by a group of authors led by Yoan Dimen in 2008 and adopted in 2015 as the new FIPS standard.The algorithm works by means of the mixing function with compression to ... SHA-256 ist Mitglied der von der NSA entwickelten kryptografischen SHA-2-Hashfunktionen. SHA steht für Secure Hash Algorithm. Kryptografische Hashfunktionen sind mathematische Operationen, die mit digitalen Daten ausgeführt werden. Durch Vergleichen des berechneten "Hash" (der Ausgabe von der Ausführung des Algorithmus) mit einem bekannten und erwarteten Hashwert kann eine Person die ...

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C# MD5 & SHA 256 Hash Demo

Mining Bitcoin with pencil and paper - Duration: 7:52. Ken Shirriff Recommended for you. 7:52. ... How to implement MD5 and SHA1 algorithm in C#.net - Duration: 12:54. Software Dev 1,993 views. 12 ... What is sha 256, How it works, sha 256 algorithm, sha 256 bitcoin, sha 256 blockchain in hindi, sha 256 in blockchain, SHA, SHA1, Secure Hashing Algorithm, sha 256 explained in hindi, in hindi ... Understanding the concept of a Secure Hash Algorithm (SHA) is crucial in order to understand blockchain, bitcoin, and other cryptocurrencies. The term "hashing" is thrown around everywhere, and I ... This video explains the concept of hashing and SHA-256 for newbies. For the complete text guide visit: http://bit.ly/2DmxbJj Join our 7-day Bitcoin crash cou... This feature is not available right now. Please try again later.

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