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Benefits of Blockchain Technology in the Banking Industry

Benefits of Blockchain Technology in the Banking Industry
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The rapidly growing interest around blockchain is creating an increased amount of use cases across multiple industries, and a high demand for adoption by many governments. Banking, financial services, and insurance (BFSI) industry is predicted to be drastically transformed by this disruptive technology. According to Allied Market Research 2019, the blockchain value in the BFSI market reached $277.1 million in 2018 and is projected to reach $22.46 billion by 2026. Blockchain technology has the potential to solve the pain points of the current banking systems and operations including security, transparency, trust, privacy, programmability, and performance.
What is Blockchain?
Blockchain is the technology behind the Bitcoin cryptocurrency, that was proposed by Satoshi Nakamoto in 2008, as a response to the failing financial system during the crisis. It is often associated and confused with Bitcoin, but the scope of the technology is much wider. It is also important to differentiate between the Distributed Ledger Technology (DLT) and blockchain, as the terms often used interchangeably. All blockchains are DLT, but not all DLTs are blockchains. DLT is simply a decentralized database managed on a peer-to-peer basis.
“Blockchain is a type of DLT, a subcategory of a more broad definition, much like how the word ‘car’ falls under the umbrella term ‘vehicles’ and ‘Satoshi Nakamoto’ falls under ‘geniuses’.”
In essence, blockchain is a continuous sequential chain of records (‘blocks’) that are chronologically linked together with the aid of cryptography, to ensure immutability. These records are immutable, as any change to the information recorded in a particular block is stored in a new block. Moreover, the use of modern encryption algorithms enables the security of all the records from copying or editing by other users of the system. Blockchain can be programmed to record not only financial transactions as cryptocurrency but almost anything of value (Deloitte Insights, 2019).
How Blockchain Can Improve Banking Industry?
The modern banking system is not perfect and commercial banks have not changed a lot to their servicing structure since the 1970s (Haycock & Richmond, 2015). Running a bank still requires large numbers of the workforce, reliance on quite outdated systems, bloated structures with high probabilities of human error, and manual work. There are several aspects, which could be improved by the application of blockchain technology in banking operations:
1) Security Enhancement
In the UK the overall value of the financial fraud losses (e.g. payment cards, remote banking, cheques) equaled £844.8 million in 2018. The situation is even worse in the US — $170 billion average yearly losses in the financial sector. According to KPMG’s Global Banking Fraud Survey 2019 the total volume, number, and value of the fraudulent activities are drastically increasing every year.
The nature of banking operations dictates the need for centralized systems, which proved to be vulnerable and subject to cyber and hack attacks. Now, the blockchain is immutable as it operates on the principles of decentralization and transparency, and all the network participants get an identical copy of the distributed ledger of transactions. Thus, if applied in banking, blockchain can increase the validity and security of the financial transactions, eliminate the need for third-party authentication, and solve the issue of a single point of failure and hacks.
Moreover, since each transaction on the blockchain has its unique fingerprint (hash) it can be easily traced and verified. Such functionality makes blockchain a great tool to combat money laundering and reduce fraudulent or illegal transactions (Guo & Liang, 2016).
2) Improving Financial Transactions Efficiency
As we mentioned previously, the utilization of obsolete mechanisms and operational systems slows down the performance of banking institutions and provides ground for human error, delays, and system failures. All these inefficiencies could be solved by applying blockchain technology. Take for example the time-consuming bilateral exchange. The process of data reconciliation needed for it could be simplified, as on the blockchain, it is inherently part of a transaction (IBM, 2016).
Blockchain and its decentralized nature eliminate intermediaries in banking operations, which significantly cuts transaction costs and boosts efficiency (Cocco et al., 2017). Blockchain does not require intermediaries, enables cross-border transfers and micro-payments, while drastically decreasing operational costs. Such transactions in the traditional banking environment are expensive (from 1% of the amount), and constitute a huge expense on a global scale. In cryptocurrency networks, transfers may range from a few minutes down to milliseconds, and the transaction fees are decided by the market forces, meaning users have the option to set their transaction fees (Deloitte, 2017).
3) Workflow Simplification
Blockchain can simplify the current complex workflow in banking institutions. As any operation can be traced, the ability to automate processes significantly reduces costs and the need for manual work. Moreover, it is impossible to make retroactive changes on the blockchain. This guarantees data immutability and excludes the human factor, thus the probability of error, data tampering, or even leakage. Using blockchain in banking operations will digitize and automate tons of manual work, greatly boost the productivity of the financial institutions and eliminate the probability of mistakes, delays, and errors.
4) Enhanced KYC & AML
Some financial institutions find it difficult to deal with problems related to policies such as Anti-Money Laundering (AML) and Know Your Customer (KYC). Numerous organizations are not able to solve these problems, due to the rapidly escalating costs. The adoption of the blockchain technology will enable the creation of a system where all clients’ information may be stored safely, making the independent verification an easy process or even automated securely. In this way, both AML and KYC processes will become simpler and easier, as all involved organizations will share the same system and the information will be updated in real-time, perhaps through the use of Digital Identities. In addition to this, blockchain technology will assist the organizations to minimize their administrative costs and reduce the workload.
5) Smart Contracts
Smart contracts are an innovative development of blockchain technology which enables for time and resources saving, as they do not require a third-party interaction. Traditional contracts do not differ a lot from smart contracts, however, their key benefit is that obligations are automatically enforced and cannot be avoided by anyone.
When smart contracts are integrated with blockchain technology, we enjoy benefits such as security, automation, immutability, and transparency. The integration of smart contracts in the financial sector will provide opportunities for transparent auditing and real-time remittances. Traditional contracts are paper-based and require financial institutions to invest money in paperwork and maintain records. These records can be easily manipulated as they are on paper. Smart contracts offer bank tools for bookkeeping based on blockchain. Smart contracts have already been applied to the financial industry to gain greater automation.
6) Decentralized Finance
Another application of blockchain is Decentralized Finance, also known as DeFi. This application is at an early stage but its disruptiveness enables millions of people across the world to have access to financial services. DeFi refers to decentralized applications, financial smart contracts, digital assets as well as protocols popular as DApps, which are built on public blockchains such as Ethereum and Bitcoin. The aim of DeFi is the creation of a decentralized financial system that will not depend on the traditional banking system.
Decentralized Finance offers numerous benefits to the users as it eliminates middlemen, enables everyone who does not has access to financial services to enter the global economy as it is a permission-less technology, and enables innovation with the combination of DeFi products. Besides, the use of decentralized finance increases the symmetry of information and democratizes financial services in this sense. The evolution of DeFi over the years means that most people around the world are only limited by their imagination when considering how to gain benefits from the financial ecosystem. However, there are still many complexities that need addressing to further expand the full extent of the possibilities of DeFi.
For more info, contact directly or email at [email protected].
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submitted by BlockDotCo to u/BlockDotCo [link] [comments]

What do you know about Bitcointalk forum?

What do you know about Bitcointalk forum?
If you are interested in cryptocurrencies, then you probably know about Bitcointalk forum! But do you know as much about it as we do? Bitcointalk is the oldest and largest online forum that is dedicated to blockchain technology and cryptocurrencies. The website appeared on the Internet in 2009, when the price of Bitcoin was only one tenth of a cent.
Bitcointalk was originally created by Satoshi Nakamoto – the "father" of bitcoin, a person whose true identity is unknown (maybe he is not a person, but a group of people). Satoshi's profile on Bitcointalk can be found today - the last time he went to his account was on the 13 of December 2010 (link to his profile;u=3).
One of Satoshi's last posts, before he eventually disappeared was a post about WikiLeaks in which Satoshi claimed that "WikiLeaks has rained a hornet's nest and now it is heading towards us. According to the forum itself, there are now about 2,7 million users registered on the site, who have written about 53 million messages. Since the creation of Bitcointalk the content on the site has received several billion page views.
Our project also has a branch on the forum. We will be very happy to see all our supporters there.
Please join us now at
submitted by Gdigit to u/Gdigit [link] [comments]

Mockingbird X.0

Imagine if there was one desk that all stories could cross so that, at 4am, a media plan could be decided upon and disseminated where all news outlets coordinated to set the goalposts of debate and hyper focused on specific issues to drive a narrative to control how you vote and how you spend money; where Internet shills were given marching orders in tandem to what was shown on television, printed in newspapers and spread throughout articles on the World Wide Web.
In the past, we had Operation Mockingbird, where the program was supremely confident that it could control stories around the world, even in instructions to cover up any story about a possible “Yeti” sighting, should it turn out they were real.
If, in 1959, the government was confident in its ability to control a story about a Yeti, then what is their level of confidence in controlling stories, today?
In fact, we have a recent example of a situation similar to the Yeti. When Bill Clinton and Loretta Lynch met on the TARMAC to spike the Hillary email investigation, the FBI was so confident it wasn’t them, that their entire focus was finding the leaker, starting with searching within the local PD. We have documentation that demonstrates the state of mind of the confidence the upper levels of the FBI have when dealing with the media.
The marriage between mainstream media and government is a literal one and this arrangement is perfectly legal.
But, this problem extends far beyond politics; the private sector, the scientific community, even advice forums are shilled heavily. People are paid to cause anxiety, recommend people break up and otherwise sow depression and nervousness. This is due to a correlating force that employs “systems psychodynamics”, focusing on “tension centered” strategies to create “organizational paradoxes” by targeting people’s basic assumptions about the world around them to create division and provide distraction.
In this day and age, it is even easier to manage these concepts and push a controlled narrative from a central figure than it has ever been. Allen & Co is a “boutique investment firm” that managed the merger between Disney and Fox and operates as an overseeing force for nearly all media and Internet shill armies, while having it’s fingers in sports, social media, video games, health insurance, etc.
Former director of the CIA and Paul Brennan’s former superior George Tenet, holds the reigns of Allen & Co. The cast of characters involves a lot of the usual suspects.
In 1973, Allen & Company bought a stake in Columbia Pictures. When the business was sold in 1982 to Coca-Cola, it netted a significant profit. Since then, Herbert Allen, Jr. has had a place on Coca-Cola's board of directors.
Since its founding in 1982, the Allen & Company Sun Valley Conference has regularly drawn high-profile attendees such as Bill Gates, Warren Buffett, Rupert Murdoch, Barry Diller, Michael Eisner, Oprah Winfrey, Robert Johnson, Andy Grove, Richard Parsons, and Donald Keough.
Allen & Co. was one of ten underwriters for the Google initial public offering in 2004. In 2007, Allen was sole advisor to Activision in its $18 billion merger with Vivendi Games. In 2011, the New York Mets hired Allen & Co. to sell a minority stake of the team. That deal later fell apart. In November 2013, Allen & Co. was one of seven underwriters on the initial public offering of Twitter. Allen & Co. was the adviser of Facebook in its $19 billion acquisition of WhatsApp in February 2014.
In 2015, Allen & Co. was the advisor to Time Warner in its $80 billion 2015 merger with Charter Communications, AOL in its acquisition by Verizon, Centene Corporation in its $6.8 billion acquisition of Health Net, and eBay in its separation from PayPal.
In 2016, Allen & Co was the lead advisor to Time Warner in its $108 billion acquisition by AT&T, LinkedIn for its merger talks with Microsoft, Walmart in its $3.3 billion purchase of, and Verizon in its $4.8 billion acquisition of Yahoo!. In 2017, Allen & Co. was the advisor to in PetSmart’s $3.35 billion purchase of the online retailer.
Allen & Co throws the Sun Valley Conference every year where you get a glimpse of who sows up. Harvey Weinstein, though a past visitor, was not invited last year.
Previous conference guests have included Bill and Melinda Gates, Warren and Susan Buffett, Tony Blair, Google founders Larry Page and Sergey Brin, Allen alumnus and former Philippine Senator Mar Roxas, Google Chairman Eric Schmidt, Quicken Loans Founder & Chairman Dan Gilbert, Yahoo! co-founder Jerry Yang, financier George Soros, Facebook founder Mark Zuckerberg, Media Mogul Rupert Murdoch, eBay CEO Meg Whitman, BET founder Robert Johnson, Time Warner Chairman Richard Parsons, Nike founder and chairman Phil Knight, Dell founder and CEO Michael Dell, NBA player LeBron James, Professor and Entrepreneur Sebastian Thrun, Governor Chris Christie, entertainer Dan Chandler, Katharine Graham of The Washington Post, Diane Sawyer, InterActiveCorp Chairman Barry Diller, Linkedin co-founder Reid Hoffman, entrepreneur Wences Casares, EXOR and FCA Chairman John Elkann, Sandro Salsano from Salsano Group, and Washington Post CEO Donald E. Graham, Ivanka Trump and Jared Kushner, and Oprah Winfrey.
George Tenet, with the reigns of Allen & Co in his hands, is able to single-handedly steer the entire Mockingbird apparatus from cable television to video games to Internet shills from a singular location determining the spectrum of allowable debate. Not only are they able to target people’s conscious psychology, they can target people’s endocrine systems with food and pornography; where people are unaware, on a conscious level, of how their moods and behavior are being manipulated.
"The problem with George Tenet is that he doesn't seem to care to get his facts straight. He is not meticulous. He is willing to make up stories that suit his purposes and to suppress information that does not."
"Sadly but fittingly, 'At the Center of the Storm' is likely to remind us that sometimes what lies at the center of a storm is a deafening silence."
Tenet joined President-elect Bill Clinton's national security transition team in November 1992. Clinton appointed Tenet Senior Director for Intelligence Programs at the National Security Council, where he served from 1993 to 1995. Tenet was appointed Deputy Director of Central Intelligence in July 1995. Tenet held the position as the DCI from July 1997 to July 2004. Citing "personal reasons," Tenet submitted his resignation to President Bush on June 3, 2004. Tenet said his resignation "was a personal decision and had only one basis—in fact, the well-being of my wonderful family—nothing more and nothing less. In February 2008, he became a managing director at investment bank Allen & Company.
We have the documentation that demonstrates what these people could possibly be doing with all of these tools of manipulation at their fingertips.
The term for it is “covert political action” for which all media put before your eyes is used to serve as a veneer… a reality TV show facade of a darker modus operandum.
It is now clear that we are facing an implacable enemy whose avowed objective is world domination by whatever means and at whatever costs. There are no rules in such a game. Hitherto acceptable norms of human conduct do not apply. If the US is to survive, longstanding American concepts of "fair play" must be reconsidered. We must develop effective espionage and counterespionage services and must learn to subvert, sabotage and destroy our enemies by more clever, more sophisticated means than those used against us. It may become necessary that the American people be made acquainted with, understand and support this fundamentally repugnant philosophy.
Intelligence historian Jeffrey T. Richelson says the S.A. has covered a variety of missions. The group, which recently was reorganized, has had about 200 officers, divided among several groups: the Special Operations Group; the Foreign Training Group, which trains foreign police and intelligence officers; the Propaganda and Political Action Group, which handles disinformation; the Computer Operations Group, which handles information warfare; and the Proprietary Management Staff, which manages whatever companies the CIA sets up as covers for the S.A.
Scientology as a CIA Political Action Group – “It is a continuing arrangement…”:
…Those operations we inaugurated in the years 1955-7 are still secret, but, for present purposes, I can say all that’s worth saying about them in a few sentences – after, that is, I offer these few words of wisdom. The ‘perfect’ political action operation is, by definition, uneventful. Nothing ‘happens’ in it. It is a continuing arrangement, neither a process nor a series of actions proceeding at a starting point and ending with a conclusion.
CIA FBI NSA Personnel Active in Scientology:
When you consider the number of forces that can be contained within a single “political action group” in the form on a “boutique investment firm,” where all sides of political arguments are predetermined by a selected group of actors who have been planted, compromised or leveraged in some way in order to control the way they spin their message.
The evidence of this coordinated effort is overwhelming and the “consensus” that you see on TV, in sports, in Hollywood, in the news and on the Internet is fabricated.
Under the guise of a fake account a posting is made which looks legitimate and is towards the truth is made - but the critical point is that it has a VERY WEAK PREMISE without substantive proof to back the posting. Once this is done then under alternative fake accounts a very strong position in your favour is slowly introduced over the life of the posting. It is IMPERATIVE that both sides are initially presented, so the uninformed reader cannot determine which side is the truth. As postings and replies are made the stronger 'evidence' or disinformation in your favour is slowly 'seeded in.'
Thus the uninformed reader will most likely develop the same position as you, and if their position is against you their opposition to your posting will be most likely dropped. However in some cases where the forum members are highly educated and can counter your disinformation with real facts and linked postings, you can then 'abort' the consensus cracking by initiating a 'forum slide.'
When you find yourself feeling like common sense and common courtesy aren’t as common as they ought to be, it is because there is a massive psychological operation controlled from the top down to ensure that as many people as possible are caught in a “tension based” mental loop that is inflicted on them by people acting with purpose to achieve goals that are not in the interest of the general population, but a method of operating in secret and corrupt manner without consequences.
Notice that Jeffrey Katzenberg, of Disney, who is intertwined with Allen & Co funds the Young Turks. He is the perfect example of the relationship between media and politics.
Katzenberg has also been involved in politics. With his active support of Hillary Clinton and Barack Obama, he was called "one of Hollywood's premier political kingmakers and one of the Democratic Party's top national fundraisers."
With cash from Jeffrey Katzenberg, The Young Turks looks to grow paid subscribers:
Last week, former DreamWorks Animation CEO Jeffrey Katzenberg’s new mobile entertainment company WndrCo was part of a $20 million funding round in TYT Network, which oversees 30 news and commentary shows covering politics, pop culture, sports and more. This includes the flagship “The Young Turks” program that streams live on YouTube every day. Other investors in the round included venture capital firms Greycroft Partners, and 3L Capital, which led the round. This brings total funding for Young Turks to $24 million.
How Hollywood's Political Donors Are Changing Strategies for the Trump Era:
Hollywood activism long has been depicted as a club controlled by a handful of powerful white men: Katzenberg, Spielberg, Lear, David Geffen, Haim Saban and Bob Iger are the names most often mentioned. But a new generation of power brokers is ascendant, including J.J. Abrams and his wife, Katie McGrath, cited for their personal donations and bundling skills; Shonda Rhimes, who held a get-out-the-vote rally at USC's Galen Center on Sept. 28 that drew 10,000 people; CAA's Darnell Strom, who has hosted events for Nevada congresswoman Jacky Rosen and Arizona congresswoman Kyrsten Sinema; and former Spotify executive Troy Carter, who held three fundraisers for Maryland gubernatorial candidate Ben Jealous (Carter also was a fundraiser for President Obama).
Soros Group Buys Viacom's DreamWorks Film Library:
Viacom, after splitting off from Les Moonves Les Moonves ' CBS , still holds Paramount Pictures, and that movie studio in December agreed to acquire DreamWorks SKG, the creative shop founded by the Hollywood triumvirate of Steven Spielberg, David Geffen and Jeffrey Katzenberg (a former exec at The Walt Disney Co.). DreamWorks Animation had been spun off into a separate company.
Now it's time for Freston to make back some money--and who better to do a little business with than George Soros? The billionaire financier leads a consortium of Soros Strategic Partners LP and Dune Entertainment II LLC, which together are buying the DreamWorks library--a collection of 59 flicks, including Saving Private Ryan, Gladiator, and American Beauty.
The money you spend on media and junk food and in taxes goes to these groups who then decide how best to market at you so that they decide how you vote by creating a fake consensus to trick into thinking that you want something other than what is best for you; but will inevitably result in more money being funneled to the top, creating further separation between the super rich and the average person. The goal will be to assert creeping authoritarianism by generating outrage against policies and issues they hate. Part of manipulating your basic assumptions is also to use schadenfreude (think canned laughter on TV) against characters who support the cause that might actually do you the most good (which reaffirms and strengthens your confirmation biased along predetermined political lines).
We have a population being taught to hate socialism and love capitalism when the truth is no country is practicing either. These terms are merely disguises for political oligarchies where the collection of wealth is less about getting themselves rich and more about keeping everyone else poor.
What can you guess about the world around you if it turned out that every consensus that was forced on you was fake?
How much money would it take to make it look like 51% of the Internet believed in completely idiotic ideas? Combine shill operations with automation and AI’s, and the cost becomes a good investment relative to the return when measured in political power.
Even the people who are well intentioned and very vocal do not have to consciously be aware that they are working for a political action group. A covert political group will always prefer an unwitting tool to help push their agenda, so that they can remain in the shadows.
FDA Admonishes Drug Maker Over Kim Kardashian Instagram Endorsement
The OSS files offer details about other agents than famous chef, Julia Child; including Supreme Court Justice Arthur Goldberg, major league catcher Moe Berg, historian Arthur Schlesinger Jr., and actor Sterling Hayden.
USA Today: Businesses and organizations may refer to it as a tool for competitive advantage and marketing; but make no mistake
Shareblue accounts caught in /politics posting links to Shareblue without disclosing their affiliation
Psy Group developed elaborate information operations for commercial clients and political candidates around the world
Top mod of /Mechanical_Gifs tries to sell subreddit on ebay for 999.00 dollars.
Shill posts picture of a dog in a hammock with the brand clearly visible without indicating that it's an ad in the title of the post
Arstechnica: GCHQs menu of tools spreads disinformation across Internet- “Effects capabilities” allow analysts to twist truth subtly or spam relentlessly.
Samsung Electronics Fined for Fake Online Comments
Discover Magazine: Researchers Uncover Twitter Bot Army That’s 350
Times of Israel - The internet: Israel’s new PR battlefield
Time: Social Media Manipulation? When “Indie” Bloggers and Businesses Get Cozy
Content-Driven Detection of Campaigns in Social Media [PDF]
the law preventing them from using this in America was repealed
Redditor who works for a potato mailing company admits to being a shill. He shows off his 27 thousand dollars he made in /pics
Screenshot of post since it was removed.
Just thought I'd contribute to this thread
CNN: A PR firm has revealed that it is behind two blogs that previously appeared to be created by independent supporters of Wal-Mart. The blogs Working Families for Wal-mart and subsidiary site Paid Critics are written by 3 employees of PR firm Edelman
Vice: Your Government Wants to Militarize Social Media to Influence Your Beliefs
BBC News: China's Internet spin doctors
BBC News: US plans to 'fight the net' revealed
Wall Street Journal: Turkey's Government Forms 6
Fake product reviews may be pervasive
USA Today: The co-owner of a major Pentagon propaganda contractor publicly admitted that he was behind a series of websites used in an attempt to discredit two USA TODAY journalists who had reported on the contractor.
ADWEEK: Marketing on Reddit Is Scary
BBC- How online chatbots are already tricking you- Intelligent machines that can pass for humans have long been dreamed of
BBC news: Amazon targets 1
BBC: More than four times as many tweets were made by automated accounts in favour of Donald Trump around the first US presidential debate as by those backing Hillary Clinton
Fake five-star reviews being bought and sold online - Fake online reviews are being openly traded on the internet
Bloomberg: How to Hack an Election [and influence voters with fake social media accounts]
"Internet Reputation Management
Buzzfeed: Documents Show How Russia’s Troll Army Hit America
The Rise of Social Bots
CBC News- Canadian government monitors online forums
Chicago Tribune: Nutrition for sale: How Kellogg worked with 'independent experts' to tout cereal
DailyKos: HBGary: Automated social media management
Meme Warfare Center
Shilling on Reddit is openly admitted to in this Forbes article
Forbes: From Tinder Bots To 'Cuban Twitter'
Huffington Post- Exposing Cyber Shills and Social Media's Underworld
The Independent: Massive British PR firm caught on video: "We've got all sorts of dark arts...The ambition is to drown that negative content and make sure that you have positive content online." They discuss techniques for managing reputations online and creating/maintaining 3rd-party blogs that seem independent.
New York Times: Lifestyle Lift
New York Times: Give Yourself 5 Stars? Online
NY Times- From a nondescript office building in St. Petersburg
NY Times: Effort to Expose Russia’s ‘Troll Army’ Draws Vicious Retaliation
PBS Frontline Documentary - Generation Like
Gamers promote gaming-gambling site on youtube by pretending to hit jackpot without disclosing that they own the site. They tried to retroactively write a disclosure covering their tracks
Raw Story: CENTCOM engages bloggers
Raw Story: Air Force ordered software to manage army of fake virtual people
Salon: Why Reddit moderators are censoring Glenn Greenwald’s latest news story on shills
The Atlantic: Kim Kardashian was paid to post a selfie on Instagram and Twitter advertising a pharmaceutical product. Sent to 42 million followers on Instagram and 32 million on Twitter
The Guardian: Internet Astroturfing
The Guardian: Israel ups the stakes in the propaganda war
Operation Earnest Voice
The Guardian: British army creates team of Facebook warriors
The Guardian: US military studied how to influence Twitter [and Reddit] users in Darpa-funded research [2014]
The Guardian: Chinese officials flood the Chinese internet with positive social media posts to distract their population
Times of Israel: Israeli government paying bilingual students to spread propaganda online primarily to international communities without having to identify themselves as working for the government. "The [student] union will operate computer rooms for the was decided to establish a permanent structure of activity on the Internet through the students at academic institutions in the country."
USA Today: Lord & Taylor settles FTC charges over paid Instagram posts
Researcher's algorithm weeds out people using multiple online accounts to spread propaganda - Based on word choice
Wired: Powered by rapid advances in artificial intelligence
Wired: Clinton Staff and Volunteers Busted for Astroturfing [in 2007]
Wired: Pro-Government Twitter Bots Try to Hush Mexican Activists
Wired: Microsoft
Wired: Military Report: Secretly ‘Recruit or Hire Bloggers’
Wired: Air Force Releases ‘Counter-Blog’ Marching Orders
Reddit Secrets
Reddit Secrets
"Once we isolate key people
GCHQ has their own internet shilling program
US also operates in conjunction with the UK to collect and share intelligence data
Glenn Greenwald: How Covert Agents Infiltrate the Internet to Manipulate
Glenn Greenwald: Hacking Online Polls and Other Ways British Spies Seek to Control the Internet
Here is a direct link to your image for the benefit of mobile users
Reddit for iPhone
Why Satoshi Nakamoto Has Gone
What I learned selling my Reddit accounts
Artificial intelligence chatbots will overwhelm human speech online; the rise of MADCOMs
How Reddit Got Huge: Tons of Fake Accounts - According to Reddit cofounder Steve Huffman
Whistleblower and subsequent investigation: Paid trolls on /Bitcoin
Confession of Hillary Shill from /SandersForPresident
Why do I exist?
Already a direct link?
Here's the thread.
/netsec talks about gaming reddit via sockpuppets and how online discourse is (easily) manipulated.
Redditor comes clean about being paid to chat on Reddit. They work to promote a politician
Shill whistleblower
Russian bots were active on Reddit last year
The Bush and Gore campaigns of 2000 used methods similar to the Chinese government for conducting “guided discussions” in chatrooms designed to influence citizens
source paper.
or Click Here. Alleged paid shill leaks details of organization and actions.
Shill Confessions and Additional Information
Corporate and governmental manipulation of Wikipedia articles
Ex -MMA fighter and ex-police officer exposes corrupt police practices
User pushes InfoWars links on Reddit
Some websites use shill accounts to spam their competitor's articles
User posts video using GoPro
Fracking shill whistleblower spills the beans on Fracking Internet PR
Directorate of Operations
October 16, 1964
Subject: After action report of
Operation CUCKOO (TS)

1) Operation CUCKOO was part of the overall operation CLEANSWEEP, aimed at eliminating domestic opposition to activities undertaken by the Central Intelligence Agency's special activities division, in main regard to operation GUILLOTINE.

2) Operation CUCKOO was approved by the Joint Chiefs of Staff, Department of Defense and the office of The President of the United States as a covert domestic action to be under taken within the limits of Washington D.C as outlined by Secret Executive Order 37.

3) Following the publishing of the Warren Commission, former special agent Mary Pinchot Meyer (Operation MOCKINGBIRD, Operation SIREN) also was married to Cord Meyer (Operation MOCKINGBIRD, Operation GUILLOTINE) threatened to disclose the details of several Special Activities Divisions' operations, including but not limited to, Operation SIREN and GUILLOTENE.
4) It was deemed necessary by senior Directorate of Operations members to initiate Operation CUCKOO as an extension of Operation CLEANSWEEP on November 30th. After Mary Pinchot Meyer threatened to report her knowledge of Operation GUILLOTENE and the details of her work in Operation SIREN from her affair with the former President.

5) Special Activities Division was given the green light after briefing president Johnson on the situation. The situation report was forwarded to the Department of Defense and the Joint Chiefs of staff, who both approved of the parameters of the operation, as outlined under article C of secret executive order 37 (see attached copy of article).
6) 8 members of the special activities division handpicked by operation lead William King Harvey began planning for the operation on October 3rd, with planned execution before October 16th.

7) The (?) of the operation was set as the neighborhood of Georgetown along the Potomac river, where the operators would observe, take note on routines, and eventually carry the operation.

8) After nothing Meyer's routines, Edward "Eddy" Reid was picked as the operation point man who would intersect Meyer on her walk on October 12th, with lead William King Harvey providing long range support if necessary from across the Chesapeake and Ohio canal (see illustration A for detailed map).

9) Edward Reid was planned to be dressed in the manner of a homeless black man, due to his resemblances to local trash collector (later found out to be Raymond Crump) who inhabits the AO and the path that Reid was planned to intersect Meyer.
submitted by The_Web_Of_Slime to Intelligence [link] [comments]

You can call you a Bitcoiner if you know/can explain these terms...

10 Minutes
10,000 BTC Pizza
2016 Blocks
21 Million
210,000 Blocks
51% Attack
Asic Boost
Bitcoin Cash
Bitcoin Improvement Proposal (BIP)
Bitcoin SV
Block height
Block reward
Bloom Filter
Brain Wallet
Change Address
Child pays for parent (CPFP)
Coinbase (not the exchange)
Coinmarketcap (CMC)
Colored Coin
Custodial Wallet
Craig Wright
David Kleinman
Difficulty adjustment
Difficulty Target
Dorian Nakamoto
Double spend
Elliptic Curve Digital Signature Algorithm (ECDSA)
Full Node
Gavin Andresen
Genesis Block
Getting goxed
Hard Fork
Hardware Wallet
Hierarchical Deterministic (HD) Wallet
Hot Wallet
Initial Coin Offering (ICO)
Initial Exchange Offering (IEO)
Light Node
Master Private Key
Master Public Key
Master Seed
Merkle Tree
Mining Farm
Mining Pool
Not your keys,...
Orphan block
Paper Wallet
Pieter Wuille
Private key
Proof of Stake (PoS)
Proof of Work (PoW)
Public key
Replace by Fee (RBF)
Roger Ver
Satoshi Nakamoto
Schnorr Signatures
Segregated Witness (Segwit)
Simplified Payment Verification (SPV)
Smart Contract
Soft Fork
Transaction Fees
TransactionId (Txid)
User Activated Soft Fork (UASF)
Wallet Import Format (WIF)
Watch-Only Address
List obviously not complete. Suggestions appreciated.
submitted by PolaT1x to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Also have to give mention to, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?, and are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex LibertyX CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
Bisq (decentralized)
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Samouari BreadWallet Electrum
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet,, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs, Coinbills, Piixpay,, Bylls,, Bitrefill, LivingRoomofSatoshi,, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at
There are also lots of charities which accept bitcoin donations, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar,, Bitify, /Bitmarket, 21 Market Marketplaces, NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

A Response to Roger Ver

This post was inspired by the video “Roger Ver’s Thoughts on Craig Wright”. Oh, wait. Sorry. “Roger Ver’s Thoughts on 15th November Bitcoin Cash Upgrade”. Not sure how I mixed those two up.
To get it out of the way first and foremost: I have nothing but utmost respect for Roger Ver. You have done more than just about anyone to bring Bitcoin to the world, and for that you will always have my eternal gratitude. While there are trolls on both sides, the crucifixion of Bitcoin Jesus in the past week has been disheartening to see. As a miner, I respect his decision to choose the roadmap that he desires.
It is understandable that the Bitcoin (BCH) upgrade is causing a clash of personalities. However, what has been particularly frustrating is the lack of debate around the technical merits of Bitcoin ABC vs Bitcoin SV. The entire conversation has now revolved around Craig Wright the individual instead of what is best for Bitcoin Cash moving forward.
Roger’s video did confirm something about difference of opinions between the Bitcoin ABC and Bitcoin SV camps. When Roger wasn’t talking about Craig Wright, he spent a portion of his video discussing how individuals should be free to trade drugs without the intervention of the state. He used this position to silently attack Craig Wright for allegedly wanting to control the free trade of individuals. This appears to confirm what Craig Wright has been saying: that DATASIGVERIFY can be used to enable widely illegal use-cases of transactions, and Roger’s support for the ABC roadmap stems from his personal belief that Bitcoin should enable all trade regardless of legal status across the globe.
Speaking for myself, I think the drug war is immoral. I think human beings should be allowed to put anything they want in their own bodies as long as they are not harming others. I live in the United States and have personally seen the negative consequences of the drug war. This is a problem. The debasement of our currency and theft at the hands of central banks is a separate problem. Bitcoin was explicitly created to solve one of these problems.
Roger says in his video that “cryptocurrencies” were created to enable trade free from government oversight. However, Satoshi Nakamoto never once said this about Bitcoin. Satoshi Nakamoto was explicitly clear, however, that Bitcoin provided a solution to the debasement of currency.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” – Satoshi Nakamoto 02/11/2009
As we’ve written previously, the genesis block is often cited as a criticism of the 2008 bailout. However, the content of the article outlines that the bailout had already occurred. The article reveals that the government was poised to go a step further by buying up the toxic bank assets as part of a nationalization effort! In this scenario, according to the Times, "a 'bad bank' would be created to dispose of bad debts. The Treasury would take bad loans off the hands of troubled banks, perhaps swapping them for government bonds. The toxic assets, blamed for poisoning the financial system, would be parked in a state vehicle or 'bad bank' that would manage them and attempt to dispose of them while 'detoxifying' the main-stream banking system." The article outlines a much more nightmarish scenario than bank bailouts, one that would effectively remove any element of private enterprise from banking and use the State to seize the bank's assets.
The United States is progressively getting to a point where cannabis can be freely traded and used without legal repercussion. As a citizen, each election has given me the opportunity to bring us closer to enacting that policy at a national level. However, I have never had the ability to have a direct impact on preventing the debasement of the United States dollar. The dollar is manipulated by a “private” organization that is accountable to no one, and on a yearly basis we are given arbitrary interest rates that I have no control over. The government uses its arbitrary control over the money supply to enable itself to spend trillions of dollars it doesn’t have on foreign wars. Roger Ver has passionately argued against this in multiple videos available on the internet.
This is what Bitcoin promised to me when I first learned about it. This is what makes it important to me.
When the Silk Road was shut down, Bitcoin was unaffected. Bitcoin, like the US dollar, was just a tool that was used for transactions. There is an inherent danger that governments, whether you like it or not, would use every tool at their disposal to shut down any system that enabled at a protocol level illegal trade. They, rightfully or wrongfully, did this with the Silk Road. Roger’s video seems to hint that he thinks Bitcoin Cash should be an experiment in playing chicken with governments across the world about our right to trade freely without State intervention. The problem is that this is a vast underestimation of just how quickly Bitcoin (BCH) could be shut down if the protocol itself was the tool being used for illegal trade instead of being the money exchanged on top of illegal trade platforms.
I don’t necessarily agree or disagree with Roger’s philosophy on what “cryptocurrencies” should be. However, I know what Bitcoin is. Bitcoin is simply hard, sound money. That is boring to a lot of those in the “cryptocurrency” space, but it is the essential tool that enables freedom for the globe. It allows those in Zimbabwe to have sound currency free from the 50 billion dollar bills handed out like candy by the government. It allows those of us in the US to be free from the arbitrary manipulation of the Fed. Hard, sound, unchanging money that can be used as peer to peer digital cash IS the killer use case of Bitcoin. That is why we are here building on top of Bitcoin Cash daily.
When Roger and ABC want to play ball with governments across the globe and turn Bitcoin into something that puts it in legal jeopardy, it threatens the value of my bitcoins. Similar to the uncertainty we go through in the US every year as we await the arbitrary interest rates handed out by the Fed, we are now going to wait in limbo to see if governments will hold Bitcoin Cash miners responsible for enabling illegal trade at a protocol level. This is an insanely dangerous prospect to introduce to Bitcoin (BCH) so early in its lifespan. In one of Satoshi Nakamoto’s last public posts, he made it clear just how important it was to not kick the hornet’s nest that is government:
“It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us.” – Satoshi Nakamoto 12/11/2010
Why anyone would want to put our opportunity of sound monetary policy in jeopardy to enable illegal trading at a base protocol level is beyond me. I respect anyone who has an anarcho-capitalist ideology. But, please don’t debase my currency by putting it at risk of legal intervention because you want to impose that ideology on the world.
We took the time to set up a Q&A with the Bitcoin SV developers Steve Shadders and Daniel Connolly. We posted on Reddit and gathered a ton of questions from the “community”. We received insanely intelligent, measured, and sane responses to all of the “attack vectors” proposed against increasing the block size and re-enabling old opcodes. Jonathon Toomim spent what must have been an hour or so asking 15+ questions in the Reddit thread of which we obtained answers to most. We have yet to see him respond to the technical answers given by the SV team. In Roger’s entire video today about the upcoming November fork, he didn’t once mention one reason why he disagrees with the SV roadmap. Instead, he has decided to go on Reddit and use the same tactics that were used by Core against Bitcoin Unlimited back in the day by framing the upcoming fork as “BCH vs BSV”, weeks before miners have had the ability to actually vote.
What Bitcoin SV wants to accomplish is enable sound money for the globe. This is boring. This is not glamorous. It is, however, the greatest tool of freedom we can give the globe. We cannot let ideology or personalities change that goal. Ultimately, it won’t. We have been continual advocates for miners, the ones who spend 1000x more investing in the network than the /btc trolls, to decide the future of BCH. We look forward to seeing what they choose on Nov 15th.
Roger mentions that it is our right to fork off and create our own chains. While that is okay to have as an opinion, Satoshi Nakamoto was explicit that we should be building one global chain. We adhere to the idea that miners should vote with their hashpower and determine the emergent chain after November 15th.
“It is strictly necessary that the longest chain is always considered the valid one. Nodes that were present may remember that one branch was there first and got replaced by another, but there would be no way for them to convince those who were not present of this. We can't have subfactions of nodes that cling to one branch that they think was first, others that saw another branch first, and others that joined later and never saw what happened. The CPU proof-of-worker proof-of-work vote must have the final say. The only way for everyone to stay on the same page is to believe that the longest chain is always the valid one, no matter what.” – Satoshi Nakamoto 11/09/2008
Edit: A clarification. I used the phrase "Bitcoin is boring". I want to clarify that Bitcoin itself is capable of far more than we've ever thought possible, and this statement is one I will be elaborating on further in the future.
submitted by The_BCH_Boys to btc [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
Pre-history of advanced cash (1989-2007)

While Bitcoin is the leader of the cryptographic money crowd, it isn't the principal venture to present the idea of advanced cash. In spite of the fact that the first accomplished the state being referred to in a decentralized manner, taking care of the Byzantine general's concern that most antecedents of Bitcoin battled with.

Truth be told, there was something other than one endeavor to bring a computerized variant of money and even gold, at first to monetary organizations and corporate organizations, and later to the standard open, beginning as right on time as the late 80s.

From DigiCash and B-Money to e-gold and Bit Gold, there are various ideas that may be considered as 'advanced monetary standards' that were acquainted earlier with Bitcoin. While not every one of them made it to the advanced the truth, being for quite some time overlooked as simply one more understudy's proposition, Satoshi Nakamoto himself makes reference to a portion of the creators of the above ventures in his unique Bitcoin white paper, clarifying that Bitcoin was in reality dependent on cryptographic ideas as imagined by cypherpunk networks and PC researchers 'once upon a time'.
The minority of such items that figured out how to 'make it' to the market in the end bombed because of the nonappearance of some essential qualities found in widespread worth trade mediums, for example, gold. That made Bitcoin for all intents and purposes what it is on account of the reality it was explicitly intended to match and convey gold's most significant characteristics including its shortage.

The introduction of the Bitcoin blockchain (2008-2009)

Precisely eleven years back, on October 31, 2008, an examination paper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System" was distributed among a cryptographer-situated mailing list by a netizen self-named as 'Satoshi Nakamoto', basically portraying a dream of a decentralized disseminated advanced cash framework, which depended on existing cypherpunk ideas that were already never joined in a solitary task.

Two or three months in and Nakamoto had distributed the primary form of the open-source Bitcoin programming on SourceForge in January 2009, starting interest and energy among cryptography specialists and specialists, however influencing essentially nobody else outside that small rundown.

The first Bitcoin exchange at any point was performed between Satoshi Nakamoto himself and Hal Finney, an early Bitcoin adopter who many estimate could be one of only a handful scarcely any individuals who know Nakamoto's actual personality (or characters).

More coders began to trade thoughts and tinker with the open-source code that was by the late spring of that year accessible on Github, and numerous Bitcoin-explicit discussions were made so as to engage genuine engineers to get composed with the undertaking.

It is said that before the finish of 2009, only 309 IPs were diverted to Wiki's Bitcoin page, while BTC, the local money of the Bitcoin organize didn't yet have a market cost.

Strangely, at that point, there was only one Bitcoin Wallet accessible and it required the full Bitcoin blockchain - proportionate to 6GB in those days - to be downloaded and adjusted all together for the wallet to be usable.

Vitalik Buterin, the now youthful prime supporter of Ethereum ETH, 0.02%, was all the while functioning as a writer in those days, and his audit of the wallet read:
submitted by Bitcoin12investment to u/Bitcoin12investment [link] [comments]

Which type of curren(t) do you want to see(cy)? An analysis of the intention behind bitcoin(s). Part 3

Part 1
Part 2
So I have been subbed to /bitcoin since it had less than two thousand subs but haven't posted there in years. I think I took a break from researching bitcoin to take a foray into the world of conspiracy around 2014 and only got back in to it around the beginning of 2017 but with a bit of sense of skepticism and cynicism about everything. I think I returned to /bitcoin around that time but there had been a rift that had emerged in the community between those that said that bitcoin was censoring any discussion around big blocks but then also just censorship in general. This lead to the formation of /btc which became the main spot for big blockers to gather to talk about protocol development. Following the fork of Bitcoin Cash and SegWit (BTC) in August 2017 the camps were further divided when the fence sitters were denied their SegWit2x compromise. Many from the fence sitters then deferred back to the incumbent bitcoin as citing muh network effect, liquidity, and hashpower while some who felt betrayed by the failure of getting S2X through went to support BCH for some attempt at on chain scaling rather than through pegged side chains or Lightning Network.
Bitcoin cash initially went with a modest doubling of the blocksize to 2MB but implemented some other features like a new more rapidly adjusting difficulty algorithm to protect themselves against hashpower fluctuations from the majority chain. In about July of that year I had seen what I potentially thought was someone LARPing on /biz/ but screencapped, that segwit2x which was scheduled for november 2017 would be called off and then hashpower would switch to BCH causing congestion and chain death spiral on BTC and BCH would pump massively. I was partial to the idea as the game theory and incentives on a big block bitcoin should attract miners. About a month after SegWit2x was indeed called off while the BTC blockchain was hugely congested, BCH went through a violent pump reaching 0.5 BTC/BCH on a European exchange called Kraken while it also pumped ridiculously on American exchange coinbase. Shortly afterwards the market took a giant dump all over those people who bought the top and it has since retraced to roughly 30:1 or so now.
After that pump though BCH kind of gained some bagholders I guess who started to learn the talking points presented by personalities like Roger Ver, Jihan Wu, Peter Rizun and Amaury Sechet. Craig S Wright by this time had been outed as Satoshi but had in 2016 publicly failed to convince the public with the cryptographic proof he provided. To which he later published the article I don't have the courage to prove I am the bitcoin creator. In essence this allowed many to disregard anything he offered to the crypto community though his company nChain was very much interested in providing the technical support to scale what he saw as the true implementation of bitcoin. Following debate around a set of planned protocol upgrades between a bitcoin node implementation by his company nChain and the developers of another client Bitcoin ABC (adjustable block cap), the two parties both dug their heels in and wouldn't compromise.
As it became clear that a fork was imminent there was a lot of vitriol tossed out towards Wright, another big billionaire backer Calvin Ayre and other personalities like Roger Ver and Jihan Wu. Craig's credibility was disregarded because of his failure to provide convincing cryptographic proof but still people who wanted to pursue the protocol upgrades that nChain were planning (as it best followed their interpretation of the bitcoin white paper) pursued his variant, while others who followed the socia consensus deferred to the positions of their personalities like Wu, Ver, and Sechet but even developers from Ethereum and other protocols chimed in to convince everyone that CSW is a fraud. This was referred to as the hash war and was the first time that the bitcoin protocol had been contentiously hard forked.

Hashpower is the CPU cycles you can commit to the Proof of Work function in bitcoin and the majority will generate the longest chain as they have the most proof of work. To win the contentious hard fork legitimately and make sure your chain will always be safe going forward you need to maintain your version of the blockchain with 51% of the hashpower on the network and force the other parties to continue to spend money on building a blockchain that is never going to be inserted in to the majority chain. As well as this you need to convince exchanges that you have the majority chain and have them feel safe to accept deposits and withdrawals so that they don't lose money in the chaos. This is how it would play out if both parties acted according to the rules of bitcoin and the Nakamoto Consensus.

There was a lot of shit talking between the two parties on social media with Craig Wright making a number of claims such as "you split, we bankrupt you" "I don't care if there is no ability to move coins to an exchange for a year" and other such warnings not to engage in foul play.. To explain this aftermath is quite tedious so It might be better to defer to this video for the in depth analysis but basically Roger Ver had to rent hashpower that was supposed to be mining BTC from his mining farm, Jihan Wu did the same from his Bitmain Mining Farm which was a violation of his fiduciary duty as the CEO of a company preparing for an IPO. In this video of a livestream during the hashwar where Andreas Brekken admits to basically colluding with exchange owners like Coinbase, Kraken (exchange Roger Ver invested in), Bitfinex and others to release a patched ABC client to the exchanges and introducing "checkpoints" in to the BCH blockchain (which he even says is arguably "centralisation") in order to prevent deep reorgs of the BCH blockchain.
>"We knew we were going to win in 30 mins we had the victory because of these checkpoints that we released to a cartel of friendly businesses in a patch so then we just sat around drinking beers all day".
By releasing a patched client that has code in it to prevent deep reorgs by having the client refer to a checkpoint from a block mined by someone who supported BCHABC if another group of hash power was to try to insert a new chain history, this cartel of exchanges and mining farm operators conspired in private to change the nature of the bitcoin protocol and Nakamoto Consensus. Since the fork there have been a number of other BCH clients that have come up that require funding and have their own ideas about what things to implement on the BCH chain. What began to emerge was actually not necessarily an intention of scaling bitcoin but rather to implement Schnorr signatures to obfuscate transactions and to date the ABC client still has a default blocksize of 2MB but advertised as 16MB.
What this demonstrates for BCH is that through the collusion, the cartel can immediately get a favourable outcome from the developers to keep their businesses secure and from the personalities/developers to work on obfuscating records of transactions on the chain rather than scaling their protocol. After the SegWit fork, many from the BCH camp alleged that through the funding to Blockstream from AXA and groups that tied to the Bilderbergs, Blockstream would be beholden to the legacy banking and would be a spoke and hub centralised model, so naturally many of the "down with central banks anarcho capitalist types" had gathered in the BCH community. Through these sympathies it seems that people have been susceptible to being sold things like coin mixing and obfuscation with developers offering their opinions about how money needs to be anonymous to stop the evil government and central banks despite ideas like Mises’ Regression Theorem, which claims that in order for something to be money in the most proper sense, it must be traceable to an originally non-monetary barter commodity such as gold.
What this suggests is that there is an underlying intent from the people that have mechanisms to exert their will upon the protocol of bitcoin and that if obfuscation is their first priority rather than working on creating a scalable platform, this demonstrates that they don't wish to actually be global money but more so something that makes it easier to move money that you don't want seen. Roger Ver has often expressed sentiments of injustice about the treatment of Silk Road found Ross Ulbricht and donated a large amount of money to a fund for his defence. I initially got in to bitcoin seeking out the Silk Road and though I only wanted to test it to buy small quantities of mdma, lsd, and mescaline back in 2011 there was all sorts of criminal activity on there like scam manuals, counterfeits, ID, Credit Card info, and other darknet markets like armoury were selling pretty crazy weapons. It has been alleged by Craig Wright that in his capacity as a digital forensics expert he was involved with tracing bitcoin that was used to fund the trafficking of 12-16 year olds on the silk road. There have been attempts at debunking such claims by saying that silk road was moderated for such stuff by Ulbricht and others, but one only has to take a look in to the premise of pizza gate to understand that there it may be possible to hide in plain site with certain code words for utilising the market services and escrow of websites like the silk road. The recent pedo bust from South Korea demonstrates the importance of being able to track bitcoin transactions and if the first thing BCH wanted to do after separating itself from Satoshi's Vision and running on developer and cartel agendas was to implement obfuscation methods, this type of criminal activity will only proliferate.
Questions one must ask oneself then are things like why do they want this first? Are some of these developers, personalities and cartel businesses sitting on coins that they know are tarnished from the silk road and want to implement obfuscation practices so they can actually cash in some of the value they are unable to access? Merchants from the silk road 1 are still being caught even as recently as this year when they attempted to move coins that were known to have moved through the silk road. Chain analytics are only becoming more and more powerful and the records can never be changed under the original bitcoin protocol but with developer induced protocol changes like Schnorr signatures, and coinjoin it may be possible to start laundering these coins out in to circulation. I must admit with the cynicism I had towards government and law enforcement and my enjoying controlled substances occasionally I was sympathetic to Ross and donated to his legal fund back in the day and for many years claimed that I wouldn't pay my taxes when I wanted to cash out of bitcoin. I think many people in the space possess this same kind of mentality and subsequently can be preyed upon by people who wish to do much more in the obfuscation than dodge tax and party.
Another interesting observation is that despite the fact that btc spun off as a result of censorship around big block scaling on bitcoin, that subreddit itself has engaged in plenty of censorship for basically anyone who wants to discuss the ideas presented by Dr Craig Wright on that sub. When I posted my part 2 of this series in there a week ago I was immediately met with intense negativity and ad hominems so as to discourage others from reading the submission and my post history was immediately throttled to 1 comment every 10 mins. This is not quite as bad as cryptocurrency where my post made it through the new queue to gather some upvotes and a discussion started but I was immediately banned from that sub for 7 days for reason "Content standards - you're making accusations based on no evidence just a dump of links that do nothing to justify your claims except maybe trustnodes link (which has posted fabricated information about this subreddit mods) and a Reddit post. Keep the conspiracy theories in /conspiracy" My post was also kept at zero in bitcoin and conspiracy so technically btc was the least censored besides C_S_T.
In addition to the throttling I was also flagged by the u/BsvAlertBot which says whether or not a user has a questionable amount of activity in BSV subreddits and then a break down of your percentages. This was done in response to combat the "toxic trolls" of BSV but within bitcoincashSV there are many users that have migrated from what was originally supposed to be a uncensored subreddit to discuss bitcoin and many such as u/cryptacritic17 has have switched sides after having been made to essentially DOXX themselves in btc to prove that they aren't a toxic troll for raising criticisms of the way certain things are handled within that coin and development groups. Other prominent users such as u/jim-btc have been banned for impersonating another user which was in actual fact himself and he has uploaded evidence of him being in control of said account to the blockchain. Mod Log, Mod Damage Control, Mod Narrative BTFO. Interestingly in the comments on the picture uploaded to the blockchain you can see the spin to call him an SV shill when in actual fact he is just an OG bitcoiner that wanted bitcoin to scale as per the whitepaper.
What is essentially going on in the Bitcoin space is that there is a battle of the protocols and a battle for social consensus. The incumbent BTC has majority of the attention and awareness as it is being backed by legacy banking and finance with In-Q-Tel and AXA funding blockstream as well as Epstein associates and MIT, but in the power vaccum that presented itself as to who would steward the big block variant, a posse of cryptoanarchists have gained control of the social media forums and attempted to exert their will upon what should essentially be a Set In Stone Protocol to create something that facilitates their economic activity (such as selling explosives online)) while attempting to leverage their position as moderators who control the social forum to spin their actions as something different (note memorydealers is Roger Ver). For all his tears for the children killed in wars, it seems that what cryptoanarchists such as u/memorydealers want is to delist/shut down governments and they will go to any efforts such as censorship to make sure that it is their implementation of bitcoin that will do that. Are we really going to have a better world with people easier able to hide transactions/launder money?
Because of this power vacuum there also exists a number of different development groups but what is emerging now is that they are struggling for money to fund their development. The main engineering is done by self professed benevolent dictator Amaury Sechet (deadalnix) who in leaked telegram screen caps appears to be losing it as funding for development has dried up and money raised in an anarchist fashion wasn't compliant with laws around fundraising sources and FVNI (development society that manages BCH development and these donations) is run by known scammer David R Allen. David was founder of 2014 Israeli ICO Getgems (GEMZ) that scammed investors out of more than 2500 Bitcoins. The SV supported sky-lark who released this information has since deleted all their accounts but other users have claimed that sky-lark was sent personal details about themselves and pictures of their loved ones and subsequently deleted all their social media accounts afterwards.
There are other shifty behaviours like hiring Japanese influencers to shill their coin, recruiting a Hayden Otto that up until 2018 was shilling Pascal Coin to become a major ambassador for BCH in the Australian city of Townsville. Townsville was claimed to be BCH city hosting a BCH conference there and claiming loads of adoption, but at the conference itself their idea of demonstrating adoption was handing a Point of Sale device to the bar to accept bitcoin payments but Otto actually just putting his credit card behind the bar to settle and he would keep the BCH that everyone paid. In the lead up to the conference the second top moderator of btc was added to the moderators of townsville to shill their coin but has ended up with the townsville subreddit wanting to ban all bitcoin talk from the subreddit.
Many of the BCH developers are now infighting as funding dries up and they find themselves floundering with no vision of how to achieve scale or get actual real world adoption. Amaury has recently accused Peter Rizun of propagandising, told multiple users in the telegram to fuck off and from all accounts appears to be a malignant narcissist incapable of maintaining any kind of healthy relationship with people he is supposed to be working with. Peter Rizun has begun lurking in bitcoincashSV and recognising some of the ideas coming from BSV as having merit while Roger has started to distance himself from the creation of BCH. Interestingly at a point early in the BCH history Roger believed Dr Craig Wright was Satoshi, but once CSW wouldn't go along with their planned road map and revealed the fact he had patents on blockchain technology and wanted to go down a path that worked with Law, Roger retracted that statement and said he was tricked by Craig. He joined in on the faketoshi campaign and has been attempted to be sued by Dr Wright for libel in the UK to which Roger refused to engage citing grounds of jurisdiction. Ironically this avoidance of Roger to meet Dr Wright in court to defend his claims can be seen as the very argument against justice being served by private courts under an anarchocapitalist paradigm with essentially someone with resources simply being able to either flee a private court's jurisdiction or engage a team of lawyers that can bury any chances of an everyday person being able to get justice.
There is much more going on with the BCH drama that can be explained in a single post but it is clear that some of the major personalities in the project are very much interested in having their ideals projected on to the technical implementation of the bitcoin protocol and have no qualms spouting rhetoric around the anti-censorship qualities of bitcoin/BCH while at the same time employing significant censorship on their social media forums to control what people are exposed to and getting rid of anyone who challenges their vision. I posit that were this coin to become a success, these "benevolent dictators" as they put it would love their new found positions of wealth/dominance yet if their behaviour to get there is anything to go by, would demonstrate the same power tripping practices of censorship, weasel acts, misleading people about adoption statistics and curating of the narrative. When the hashrate from Rogers minging operation on BCH dropped dramatically and a lot of empty blocks were being mined, his employer and 2IC moderator u/BitcoinXio (who stepped in to replace roger as CEO) was in the sub informing everyone it was simply variance that was the reason when only a few days later it was revealed that they had reduced their hash power significantly. This is not appropriate behaviour for one of the primary enterprises engaged in stewarding BCH and encouraging adoption nor is the inability to be accountable for such dishonest practices as well. It seems treats btc as their own personal spam page where Roger can ask for donations despite it being against the sub rules and spin/ban any challenge to the narrative they seek to create.
Let's see how the censorship goes as I post this around a few of the same places as the last piece. Stay tuned for the next write up where I take a deep dive in to the coin that everyone doesn't want you to know about.
submitted by whipnil to C_S_T [link] [comments]

How many people here have actually read the white paper / done research on the timeline of events with BTC...?

I don't call myself an "evangelist" or a "converter of non-believers", but as per the question at hand, has anyone here read the white paper for bitcoin? IIRC it's only 8 pages long and in PDF format.
The whitepaper was written and published in November 2008, the same month Bush bailed out the banks with 750 million 700 billion USD of money printed out of thin air. The first block was mined (and thus the world's first bitcoins were mined) the same month that Obama took office.
The most popular methods it was used for in the beginning (funding Julian Assange, and people buying illegal shit on the silk road) were not the main reasons that it was intended for, and you could say Satoshi Nakamoto didn't intend for it to be used that way. a quote from him:
"WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us."
This sub kinda makes me think a bit of those guys who said the internet wasn't going to take us anywhere back in the late 90s, and now here I am using a smart phone to type this up to you guys...
EDIT: Even Satoshi Nakamoto wasn't so certain that bitcoin would take off, and is skeptical of its own failure.
"In a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume."
submitted by sgtslaughterTV to Buttcoin [link] [comments]

Tipping Tuesday! question, discuss, give and receive Bitcoin Cash tips!

It's Tipping Tuesday!
Let's show the world why Bitcoin Cash is the best money there is.
I especially encourage those who've never received a tip to come forward!
Feel free to spread a link to the tipping thread to other communities.
EDIT 1900GMT: I'll be offline for a while. If any others feel like continuing to tip in the meantime, that'd be very appreciated. I'll check back in half a day or so to see if any latecomers still seek tips. Have a great Tuesday or what remains of it, and thanks for visiting. And try to find some other worthwhile posts on Reddit to tip!
submitted by LovelyDay to btc [link] [comments]

#HEX Snapshot WARNING : 2 weeks! December 2nd 0:00:00 UTC

#HEX Snapshot WARNING : 2 weeks! December 2nd 0:00:00 UTC
UPDATE : Sunday, November 17th, 2019.
The time of the HEX snapshot has finally been announced!!!
Below is the official announcement quoting Richard Heart.

The snapshot will occur December 2nd at the first Bitcoin block mined after 00:00:00 UTC. You must have access to the private keys to your Bitcoin address having a balance at that exact blockheight to be able to submit a claim after. If you have a normal or segwit bitcoin address, you are very likely to be eligible to claim.
To read more about which addresses are eligible, please visit
The HEX contract will be targeted for launch at 00:00:00 UTC the next day after the snapshot. You will have a day to gather up ETH and convert BTC into ETH to join the Adoption Amplifier on day 1. This way you can both FreeClaim and then transform the BTC to ETH to transform into HEX via the AA system. If you don’t already have BTC it’s very likely you will make much more HEX buying ETH to send to the AA system, than by buying BTC just to FreeClaim with it. The math is here:

That’s it! Get ready! 2 weeks!
Remember to use my referral link if I helped you to learn about HEX!
We both benefit more!
Read further if you are interested in the fundamental reason you want to be involved with HEX.
If I am bringing you HEX now for more or less the first time and you are convinced of the fundamental reason after you have read this article that you should get involved with HEX then kindly use my referral link because, after all, I brought it to your attention, plus you not only I benefit! You get an extra 10% HEX when you claim using a referral link versus not using one.
So how does it work.
Basically, anyone holding Bitcoin at the exact time and blockheight of the Bitcoin blockchain of the HEX snapshot will be able to claim free HEX ERC-20 tokens into an Ethereum address you own. Without referral bonuses and all the rest of the bonuses the ratio is 10000 HEX : 1 BTC.
I don’t care how much BTC you have or how little you think you have, you must claim or you will be crying later I guarantee it. Free will exists of course, and not paying attention does have consequences. However, there is absolutely nothing to lose by claiming HEX which you will only have a certain amount of time from the snapshot to claim (51 weeks) and the longer you wait, the less HEX you are able to claim designedly so.
If HEX is successful it will be #2 next to Bitcoin in a few years. I will explore speculative possibilities of this later on. I will help everyone be sure to be able to claim on Day 0 to maximize our bonuses. HEX is the most brilliant project in all of cryptocurrency. I don’t care if anyone claims otherwise, for what more common financial service or product is there in the whole world besides currency? Certificate of Deposit, aka Time Deposit, which is essentially the ability to “stake” capital for a contracted length of time, and in exchange the counter-party bank compensates you for your “risk” or your “investment” into their centralized system, by “guaranteeing” interest paid in return to you as per terms and conditions of aforementioned contract.
HEX is a stroke of genius that has gone largely unrecognized in the crypto space. Mainly I surmise because some people deplore Richard Heart for how successful he’s been in the past, plus how generally right he’s been about many things which particularly unintelligent people hate and fail to appreciate, and how idiots defined as idiots because they don’t even examine the project objectively because they just can’t stand Heart for whatever stupid reason. They think Richard Heart is arrogant? No, it is they that are arrogant that deny the tremendous possibility HEX represents and may accomplish. So they refuse like close-minded people do to even consider the possibilities of such a project as Hex. People like that deserve to stay broke or get broke.
Why is HEX so brilliant?
Well first have a review of what is a traditional Certificate of Deposit.
Who needs a traditional fiat-based Certificate of Deposit anymore? It makes zero sense now that we have the smart-contracted trustless-interest functionality enabled by cryptography and inimitably clever game theoretics, a novel invention that will rapidly enough emerge and burst onto the theater of crypto, HEX.
Well how much money in the world is currently bonded up into contracts, these so-called Certificate of Deposits (more accurately called time deposits)? According to Richard Heart the number is $7 trillion between the United States and China alone! Wait a minute, what was the market cap of Bitcoin when it was $20k in December 2017? Well not even half a trillion. Pathetic!

Remember when?
So why am I mentioning Bitcoin’s previous ATH marketcap? Because to imagine the fullest possibility of HEX we have to imagine the fullest possibility of Bitcoin. Obviously Bitcoin when going down for ages everything else sinks incalculably faster! On the other hand when Bitcoin is in a bull run for multiple years culminating in an explosion of energy which it blows off at the “top” everything else is rising and exploding also like fireworks, the sounds of millions at once getting REKT, by the so-called dumping of whales of their favorite “shitcoins” on their frightful heads as they are left eternally weeping over heavy bags chanting “how did the government let this happen!”
The point is Bitcoin will continue as it has in the past in cycles, which is part and parcel of the design of it by Bitcoin’s creator, Satoshi Nakamoto, profound genius, probably deceased. If we can imagine that Bitcoin will as Trace Mayer calls it as “a blackhole on the world’s balance sheet” to continue to function as such, it will voraciously proceed to eat every single fiat currency of the world out of existence. Bitcoin is an intelligence test and a solution to the problem of power. Where power can corrupt, it must corrupt, because power corrupts only those that love having it most, and obviously, who enjoys most working to possess more and more power? Think just what am I advocating for? To what principle or philosophy is my devotion, or am I just a loyal slave to the “hand that pays my salary I shall not question”? Cryptocurrency is ultimately about FREEDOM. We’ve already won this is what few understand. How does the saying go, “first they deny and laugh at you, then they fight you, and then you win.”
Bitcoin is destined to be valued at, in today’s dollar terms, trillions upon trillions of dollars. Anyone who suggests otherwise just don’t get it, because perhaps they just can’t get it.
What’s the speculative highly approximated math?
18,000,000 Bitcoin * $1,000,000 = $18,000,000,000,000
Is that possible? Definitely. How soon, who knows.
Why is this relevant to HEX?
Because I am trying to imagine what the marketcap of HEX would be 5 years out, 10 years out, 15 years out. And how am I supposed to do that except to use Bitcoin as a basis? I don’t care in the slightest what the marketcap valuation of HEX is in terms of U.S. Dollars. Who cares? Do you really expect the US Dollar to still have the same purchasing power it does today in the near to far future? The answer is simply that it will not for reasons you can learn from Andreas Antonopolous, a gifted patient educator on the beauty and elegance of the invention of bitcoin and its implications on the world.
Now, these speculations are necessary to estimate the potential marketcap of HEX. We know there exists $7 trillion in conventional CDs between the United States and China. That’s the market demand in other words strictly in terms of US Dollars and not even including all the other currencies. Obviously all of that isn’t going to dump into HEX overnight. However, long term that is definitely the potential. What’s going to happen as the dollar loses global hegemony? What is going to be the value of those conventional CDs then? Will the market, i.e. the demand, just disappear? Of course not, it will just find the next best thing, which will just so happen to be HEX, which is designed to specifically replace those CD’s by a technologically superior mechanism that decentralizes the same functionality offered by banks. Not to mention the fact that people who would have otherwise been privy to CDs but couldn’t because of certain stupid limitations imposed on them by the banks will now have the same opportunity permissionlessly available to them via HEX.
I think Bitcoin can easily be $1,000,000 in the next 10 years, but what about 15 years, maybe $10,000,000? Why 15 years? Because with HEX you are given the option to set your trustless-interest yielding time-deposits for up to 15 years! And all I care about at the end of the day when my stakes have completed the set time is not the value of HEX in terms of dollars but in terms of Bitcoin. How many satoshi’s is 1 HEX? My argument or suggestion is just this : Given the market that HEX, as an innovative technology which obsoletizes traditional CD’s, dares to claim and probably even exceed by far, it is not unreasonable to speculate that HEX could very well become #2 next to Bitcoin in the future.

HEX Time-Deposit trustless-interest functionality will make CD's obsolete.
What am I saying here? I’m saying in the future, we won’t be measuring different cryptos against each other in terms of their dollar values but rather in terms of their satoshi values, or bitcoin values. And I think HEX at that point will comprise anywhere in a range of 5%-15% the marketcap of bitcoin itself, for the value of HEX in terms of bitcoin will be such that it is as IF 5%-15% of the bitcoin marketcap was locked in HEX. Obviously HEX is its own currency, however what is it measured against? The answer can only be bitcoin. So if I want to know what the marketcap of HEX in bitcoin would be in 15 years, I just have to guess what the marketcap of BTC will be in 15 years. As aforementioned, BTC if would be $1,000,000 implies a marketcap of very roughly $18 Trillion. 5%-15% of $18 Trillion is $0.9 Trillion — $2.7 Trillion. How soon would Bitcoin be $1,000,000 though? Who knows. The time is the unknown variable, we already know the potential, the question isn’t how or what, is when. But I’d estimate less than 10 years. With HEX, stakes can be set for up to 15 years. Daresay Bitcoin could be valued at $10,000,000 in 15 years? That would be equal to roughly $180 Trillion.
Could it? Supposing it would for imagination’s sake, what would the marketcap in % of Bitcoin’s marketcap be the value of HEX? 5%-15% of $180 Trillion is $9 Trillion — $27 Trillion.
Conclusively the argument is clear, simply that HEX has the potential to fulfill an incredible demand for time-deposits in the near and distant future as slowly CD’s become antiquated and laughably inferior in terms of profitability versus the technologically superior alternative that is a crypto no one requires any permission to use and can be anyone, anywhere, anytime. Not only that, it also unlocks the capacity for absolutely everyone to come online and use a tool that does not discriminate against anyone. No accreditation required. No permission necessary. All you need is capital, a trustless contract, and patience, and now you have the ability to make time your friend.
#HEX #cryptocurrency #time-deposit #trustless-interest
submitted by an_amnesia to u/an_amnesia [link] [comments]

Beginners guide to Syscoin (SYS) and why you should be investing in this cryptocurrency in 2018

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!
Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.
With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today.

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.
Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.
Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.
The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.
The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here:
What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.

Team Page:

Blockchain Foundry Products

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017.

Key Blockmarket Features

• Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC
• Bitcoin and Zcash as payment options
• Arbitrated Escrow
• Encrypted Messaging
• KYC/AML Compliance
• Images
• Unlimited Inventory Items

Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.

Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.

Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.

Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. Audit Results: []

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in February 2018.

Key Syscoin Developments


Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized

Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turing complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.

Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.

Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty.

Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.

Why Invest in Syscoin?



(Microsoft Azure)[]

Decentralized Identity Foundation

White Paper
Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments


Blockchain Application Development Architecture*bUO6_nRI7q805edG59e0DQ.png

Feature List 2017 & 2018

Where to Buy

• Bittrex • Poloniex • Upbit • Tux Exchange • Livecoin • Yobit • AEX • Bittylicious • Changelly •


• Block Market Wallet 1.2 – Windows and Mac. Download from
• QT Wallet for Developers: Download from
• Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)
• HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)

Other Sources
Disclaimer This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by one22manytimes to CryptoCurrency [link] [comments]

u/guysir was getting downvoted in this thread for constantly asking "Can you explain why someone would have the desire for Bitcoin to die?" So I put together a couple of pointers to help him (and others like him) to wake up and smell the coffee.

If you just want a 3-minute (NSFW) video which explains why certain rich assholes don't want you to have nice things, here goes:
George Carlin - The big club (NSFW!!!)
u/guysir has been asking a lot of questions like this:
Can you explain why [they] would have the desire for Bitcoin to die?
Edit: I like how I'm being downvoted for simply asking a question.
~ u/guysir
etc etc etc...
Below are some introductory lessons to help u/guysir grow up and face the reality of how the world actually works.
Lesson 1: Money doesn't grow on trees. Nor does it get mined from the ground very much anymore, as gold and silver. (Correction because I was half-asleep when I wrote that: Gold and silver still do get mined quite a bit of course - but most people don't use them day-to-day as money.) And gold and silver prices are probably heavily manipulated (suppressed) these days anyways - in order to prevent the value of fiat currencies (such as the USD, EUR, GBP, YEN) from collapsing.
So, where does money come from, in the modern world?
Bankers print unlimited supplies of money out of thin air (which they then give to their buddies).
That may sound somewhat surprising to someone who hasn't ever sat down and examined how the world actually works - but basically, it's the reality we do live in.
Exercise 1: Put on your thinking cap now for 30 seconds and try to imagine what your life would be like if you could "print money out of thin air" (and give it to your buddies).
OK, your 30 seconds are up.
Hopefully you realized that being able to "print money out of thin air" (and give it to your buddies) would give you immense power - correct?
This was just a simple exercise, and of course the politics and economics of the world as a whole are much more complicated - but hopefully at this point you have managed to finally grasp one basic concept:
The ability to print money (and give it to your buddies) confers great power.
So, as the saying goes: "Money makes the world go around."
And some lucky people (bankers) have arrogated to themselves the right to print money (which they then give to their buddies).
These buddies of theirs constitute a kind of exclusive club of mega-rich people who control all the essentials which you need to survive: mainly housing, education, healthcare.
Notice how the prices of these essentials are always going through the roof - while your salary stays pretty much stagnant.
And notice how you never have enough cash to buy these things outright using the little bit of cash money that you actually have.
So these people also control one other thing you need in life - credit.
Credit is actually just "money that you have to buy" (at a gigantic markup, called "interest") from those same mega-rich people in that "club", who happen to be lucky enough to be buddies with the bankers who "print up money out of thin air".
It's a very exclusive club, which runs the world - and you ain't in it.
Extracurricular Activity 1: Watch this short video by George Carlin for a vivid explanation of this "club" which you ain't in:
George Carlin - The big club (NSFW!!!)
Lesson 2: Bitcoin is "peer-to-peer electronic cash". One of the most important aspects of it is that there will only be 21 million bitcoins (or 21 trillion "bits" - where there are a million "bits" in 1 bitcoin).
Many people believe that one of the main reasons Satoshi designed Bitcoin this way (with a cap of 21 million bitcoins) was to take away the power of the bankers and their buddies to keep running the world by printing up money.
Exercise 2: Read as much as you can of the Bitcoin whitepaper, and the Bitcoin wiki. Since this is about economics, you can skip over the technical stuff about how this whole thing was programmed in C++ - and just focus on how it works at the level of economics.
Another good site to read about the economic aspects of Bitcoin is Nakamoto Institute:
Again, you can skip the articles about C++ programming - and just focus on articles dealing with the economic (and social, and political) aspects of having a form of money which an exclusive club of rich bankers and their buddies can't simply print up and use to control your life.
Extracurricular Activity 2: Read (or watch a video) about The Creature from Jekyll Island or about the Federal Reserve - which explains how the current banking system in a powerful country (the USA) really works:
Or, alternatively, read up on topics like the petrodollar, quantitative easing, fractional reserve, ZIRP and NIRP, the Austrian school of economics - to start understanding some of the more advanced topics of how a certain exclusive club of bankers arrogate to themselves the right to print money out of thin air (which they then hand out to their buddies, who then use this power to control your access to all the expensive essentials in life).
Yes, there's a lot of tinfoil or Illuminati stuff in there which could be just delusional paranoia - but there's also a lot of cold hard facts about where money comes from. And it doesn't come from trees - or out of the ground - instead, it just comes from bankers typing in numbers on a keyboard, and then handing out this freshly-printed money to their friends - who then use this "fiat" to control you.
Lesson 3: Do a search on this subreddit for "AXA" to learn more about this one particular company.
You will see that AXA isn't just any old insurance company or financial firm - it actually happens to be the second-most-connected financial company in the world.
Who owns the world? (1) Barclays, (2) AXA, (3) State Street Bank. (Infographic in German - but you can understand it without knowing much German: "Wem gehört die Welt?" = "Who owns the world?") AXA is the #2 company with the most economic poweconnections in the world. And AXA owns Blockstream.
In addition, AXA is heavily involved in derivatives - in fact, it is the insurance company most heavily involved with derivatives:
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
Lesson 4: How do debt-based fiat currencies (and derivatives) work? And how could companies that depend on such "assets" (such as AXA) be negatively affected by Bitcoin?
Derivatives are basically the total opposite of Bitcoin, when it comes to something called "counterparty risk" .
Counterparty risk is the possibility that you might not get what's owed to you - because "your money" isn't actually in your hands, it's in someone else's hands, and all you have is a "claim" on what they're holding in their hands: in other words, they have a debt to you (a promise to pay you) - and you only get "your" money if that other "counterparty" actually pays their debt to you, or makes good on their promise to pay you.
Compare that to Bitcoin - which is basically one of the only "counterparty-free" assets in the world. If you have a bitcoin (ie, if you control your own private key), then you're not dependent on anybody to pay you. You already are holding your own "cash".
You've probably seen company balance sheets, with Assets (including Receivables) and Liabilities (including Payables) and Income and Expenses and Equity. To calculate how much the company "has", you just add up all the positive stuff (Assets and Receivables), then subtract all the negative stuff (Liabilities and Payables), and the difference is what the company "has": its Equity. (The Income and Expense accounts are just temporary accounts used for incoming and outgoing cash flows.) But a lot of what the company "has" also could involve "counterparties" - other entities who (in the future) will (hopefully) come through and pay what they promised to pay.
So there is risk here. Risk of not getting paid. Risk of breach of contract. Risk of credit default. Because most of these "assets" are not "counterparty-free". Your "net worth" on paper might be just that: on paper. In reality (if the people who promised to pay you end up never paying you), then your "net worth" could actually turn out to be much less than what it says "on paper".
Derivatives are just another layer built on top of that: they're basically "bets" about whether someone is actually going to get paid or not. (In fact, one of the most important types of derivatives are Credit Default Swaps - or CDOs - which are used to place "bets" on whether someone is going to default on their debts.)
So, a company like AXA (which is heavily involved in derivativs) is technically "rich" - but only "on paper". In reality, like most major financial firms, if you just looked at what they actually have "on hand", they'd probably literally be bankrupt.
This may sound shocking, but many economic experts have stated that a majority of the major financial firms around the world (including most major banks, and most major insurance firms such as AXA) are actually bankrupt - if you just look at the reality of what they actually have "on hand" (and not the "fantasy" of what they have "on paper").
So, in addition to the ability to print money out of thin air, there is this other strange aspect to the world's current financial system: many companies (mainly finance companies) would be considered bankrupt if viewed strictly in terms of what they have "on hand" ... but they're are able to parade around acting like they're mega-rich, based on what they have "on paper" (most of which is debt-based or derivatives-based).
Bitcoin coin is a major threat to the existing power system based on debt and dervatives - which AXA is at the absolute center of
So, the people who are supposedly "powerful", who run our world - their power comes from two sources:
  • Their ability to print up money out of thin air;
  • Debt-based and derivatives-based numbers on paper.
Bitcoin threatens the first item above.
And the global financial crisis which started in 2008 threatens the second item above.
In fact, Bitcoin itself also probably threatens the second item above too.
This is because as Bitcoin becomes worth more and more, those debt-based and derivatives-based numbers on paper become worth less and less, in relative terms.
And if the current financial crisis becomes acute again (like it did when another "systemically important" insurance company / derivatives "playa" went under: AIG)...
...then a lot of those numbers on balance sheets will get wiped out, written off - because people aren't paying up
...and so companies (including companies like AXA - in fact especially companies like AXA) might go belly up
...because they don't actually have any real money "on hand" - all they have is debt-based and derivatives-based numbers on paper.
So nearly all of the world's major banks and insurance companies - especially AXA - are on a mad, mad merry-go-round of debt and derivatives.
They're like someone with no cash, living on an almost-maxxed-out credit card - desperately hoping that the banks will lend give them more money (a/k/a "credit" - a/k/a debt), and terrified that the counterparties who owe them money will actually turn out to be in the same boat that they are: ie, bankrupt, deadbeats.
It's actually less like a merry-go-round, and more like a game of musical chairs: and nearly all the major banks and financial companies are terrified of what will happen if/when the music stops, and they're not able to scramble to find a chair - especially AXA.
AXA is the "second-most-connected" financial company in the world
AXA also has more derivatives than any other insurance company in the world - which means they're basically flat-broke, totally dependent on their "counterparties" in this "web of debt".
And derivatives aren't just some minor part of the world financial system. Actually, there is currently around 1.2 quadrillion dollars in derivatives - so derivatives are by far the biggest part of the world financial system.
Here's an infographic to give you an idea:
You'll notice that Bitcoin is also included on that infographic.
Maybe you look at it and think: Well, Bitcoin is so small, why would they be worried about it?
But size isn't everything.
Remember that (unlike nearly every other asset on that infographic) - bitcoin is "counterparty-free". (Also gold and silver are "counterparty-free".)
So gold, silver and bitcoin are a lot more "independent" than all the other so-called "assets" on that infographic. In fact, it wouldn't be much of a stretch to say that gold, silver and bitcoin are the only totally real assets on that infographic - and the rest of those assets are to some degree fake (since they could evaporate at any minute - unlike gold, silver and bitcoin, where your ownership is totally guaranteed).
Also, due to the "law of reversion to mean", something small on that infographic basically has only one direction it can go: towards getting bigger. We say that Bitcoin has a lot of "upside" for growth.
And something gigantic on that infographic also has one direction it can go: towards getting smaller. We say that derivatives have a lot of downside - derivatives might be in a bubble, or due for a crash.
And one way that could easily happen would be for billions of dollars (or trillions of dollars) to flow into Bitcoin - while flowing out of the other asset classes on that infographic.
Of course, in order for trillions of dollars to flow into Bitcoin...
We're gonna need a bigger blocksize.
And that's actually basically all we'd probably need - the software already runs fine, and (despite the propaganda from Blockstream and r\bitcoin), the network / hardware / infrastructure / bandwidth can already handle blocksizes of 4MB-8MB - so with things like Moore's law working in tandem with Metcalfe's law, it is quite reaonable to assume that in 8-10 years (after the next two Bitcoin "halvings") it is quite possible for 1 bitcoin to be worth 1 million US Dollars.
I did some rough growth projections here showing how feasible this actually is:
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
So Bitcoin (with bigger blocks - not under the control of Blockstream or AXA) could be a serious competitor - or a threat - or a safe haven - or an "inversely correlated" asset class - versus all the other asset classes on that infographic.
Bitcoin is an alternative
Bitcoin is an alternative - an option people might turn to, if they decide to abandon the other options on that infographic.
So AXA - whose wealth and power depends on heavily on the derivatives shown in that infographic - might want to either see Bitcoin fail, or suppress Bitcoin, or eliminate it as an alternative, or simply control it somehow - just to make sure it doesn't "eat their lunch".
Remember that one of the tactics used by oppressors is to spread propaganda to brainwash you into giving up hope and believing that "There Is No Alternative".
Bitcoin is an alternative to the current messed-up financial system (which helps prop up bankrupt companies like AXA) - so for that reason alone it's enough for a company like AXA to want to eliminate or suppress or at least control Bitcoin. Not just by buying up some bitcoins - but by paying the devs who write the code that determines the blocksize which ultimately affects the price.
"Bitcoin users unaffected."
If/when the music stops in the game of debt- and derivatives-backed musical chairs that makes the world go 'round, some of the "systemically important" financial firms will be exposed as being bankrupt - and it is very, very likely that one of those firms could be AXA (just like AIG in 2008).
In all honesty, I have to admit that it's still not totally clear to me (or maybe to anyone) precisely how Bitcoin will ultimately impact this whole "web of debt". After all, this is the first time the world has ever had a digital, counterparty-free asset like Bitcoin. (Gold and silver are also counterparty-free - but they're not digital, so it's harder to store them and move them around.)
But one basic fact is certain: Bitcoin is really not a part of this whole "web of debt". Bitcoin stands quite outside this whole "web of debt". Bitcoin is "inversely correlated" to this whole "web of debt".
Bitcoin is an alternative.
Voice and Exit
If you feel like you don't have a voice / vote in the system, it's good to know that you can exit the system.,_Voice,_and_Loyalty
Balaji Srinivasan (founder of on Voice and Exit
Can we ever really know what AXA might be up to with Bitcoin?
Probably not - because it is unlikely that they would ever tell us.
But, we can make some rational guesses.
On some level, a lot of people whose wealth and power come from this whole "web of debt" are probably just reasoning as follows:
  • If/when this whole "web of debt" goes down, Bitcoin goes up. (This is already pretty much an established fact: money flees to "safe havens" like gold, silver and bitcoin when "traditional" investments go down.)
  • If/when Bitcoin goes up, then the importance and power (and credibility) of this whole "web of debt" goes down. (This makes sense: being counterparty-free, bitcoin is obviously a safer investment - and so it's worth more - and so all those other debt-based and derivatives-based investments become worth less, as bitcoin becomes worth more.)
  • If Bitcoin goes down (or totally goes away), then this whole "web of debt" will probably be able to hang on for a while longer. (This also be more of just just a conjecture - but it seems quite reasonable.)
Maybe they just want to keep you trapped in their system - by destroying (or suppressing) the alternative (Bitcoin) which gives you a chance to exit their system.
Some more posts about AXA and what they might be up to:
Anyways, there's a bunch of articles on btc about AXA and what they might be up to with Bitcoin:
Finally, if you need some extra help dispelling the quaint notion that the people who run the world are honest and transparent and helpful, then the following two (admittedly highly conjectural) posts might help spell things out a bit more explicitly for you:
Blockstream may be just another Embrace-Extend-Extinguish strategy.
The owners of Blockstream are spending $75 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.
Sorry I don't have any more time right now to "school" you further on this subject.
Ideally, learning should be a self-driven process anyways - once someone helps you get started.
Some advice
Finally, if I may give you some parting advice.
If you want to be truly respected on these forums, you're probably going to have to stop going around acting like such a doe-eyed innocent little pollyanna.
It is assumed that most people here already pretty much know the harsh reality of how the world works, and are trying to use Bitcoin as a way to not get screwed over by this harsh reality.
So some of the more informed people around here might not have much patience with you (or trust in you) if you don't even understand the basic principles outlined above, namely:
  1. Our planet is being run by an exclusive club of rich assholes who have immense power, because we "allow" them to print out money (which they then hand out to their buddies, not to us - basically enslaving us).
  2. Bitcoin was designed (many believe) to help fix this dire situation.
  3. The ancien régime (those people who up till now who have been running the world, due to their ability to print money) might not like Bitcoin for this reason, and might try to do something to stop it - and they might not tell you why they're doing it - and they might not even tell you that they are doing it in the first place!
Sorry to be such a curmudgeon, but pollyannas like you tend to get on my nerves after a while - not least because it seems to me that one of the factors which allows those rich assholes to continue to stay in power and run the world is because so many uninformed credulous people like you either can't or won't just wake up and open your goddamn eyes and see how you're getting fucked over by this whole "web of debt" based around that exclusive "club" of rich assholes who get free money which the bankers are simply printing up out of thin air.
So, 99% of people in the world are living lives of quiet desperation and oppression, becoming poorer and poorer - while the rich keep getting richer and richer (with all that money they keep printing out of thin air - which by the way, if you do the math, ends up making your money worth less) - and now there are finally some serious attempts at revolution or change afoot, to try to fix some of this mess - and you've just wandered in to a meeting where some of these people struggling for change are making plans, and you basically keep going around asking "What are you guys so worked up about?"
Maybe if you also realized that you are saying the exact same thing that the oppressors are always saying (basically some variation of "Nothing to see here, move on!") - then maybe that will provide another hint to you as to why some people have been less-than-totally-welcoming of your non-stop naïve-sounding questions.
Every subreddit has a topic - plus certain assumptions
For comparison: Would you wander around on a subreddit about fitness or weightlifting constantly asking: "Why do you want to get in shape?"? (Or maybe here's an even better comparison: Would you wander around on a subreddit for some oppressed group, and keep asking "Why would anyone be oppressing you?"?)
There are certain "givens" which are assumed on a subreddit - and one of the "givens" for a lot of people on this subreddit is that the current monetary regime running the world is not working for most people (or: it is oppressing most people), and so we need something better. (Also another one of the "givens" is that r\bitcoin is censoring everyone's posts - and that Blockstream is damaging Bitcoin.)
Nobody is forcing you to get into fitness or weightlifting - and nobody is forcing you to get into Bitcoin. Maybe you think your physique is already fine the way it is, so you don't see the point of fitness or bodybuilding - and maybe you think that VISA and PayPal and JPMorganChase and Wells Fargo and the Fed and the ECB or whatever are fine for you, so you don't see the point of Bitcoin. (Or maybe you were born a millionaire so you don't feel financially oppressed.) You're free to get involved or not get involved. Most people who are here are involved for some particular reason. And whatever that reason may be, it usually tends to involve using Bitcoin as it was designed in the whitepaper - in order to improve their lives. And part of this also means actually using Bitcoin as it was designed in the whitepaper - free of any interference from companies like Blockstream - or their financial backers AXA - who might not really want us to be able to use Bitcoin the way it was designed in the whitepaper.
In particular, it has been quite obvious for years to people on btc that the actions of r\bitcoin and Blockstream have been damaging to Bitcoin (whatever their actual motives may be - which we may ultimately never even be able to find out since they're probably never going to actually tell us) - but meanwhile we've had to fight tooth and nail to get a vast brainwashed army of pollyannas - a lot of whom quite frankly sound a lot like you - to understand that Satoshi did not design Bitcoin to work like this:
Every Core supporter wants to run their own node. Apparently to help banks settle transactions, instead of their own transactions.
Satoshi designed Bitcoin to work like this:
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
We all have our own reasons for being here.
So hopefully that gives you some background regarding why many people are here on this subreddit in the first place, and what some of our goals and desires are.
We want to use Bitcoin - and we don't want the bankers funding Blockstream or the censors silencing r\bitcoin to get in our way.
We understand that Bitcoin is a disruptive technology which could be liberating and empowering for many of us in various ways.
We are realistic about the fact (ie, we take it as a "given") that certain powerful individuals or institutions might not want us to be empowered and liberated like this (maybe because their power depends on our enslavement).
And so we allow for the possibility that certain powerful individuals or institutions might be trying to stop us - and that they might not even have the courtesy to inform us that they are trying to stop us.
I should of course clarify that these are ultimately really only my reasons for being on this forum.
Other people may have their own reasons - some the same as me, and some different from me - and so I can only speak for myself.
It is important for all of us - me, you and everyone else - to have a clear understanding of why we are here.
In particular, if you - u/guysir - ever felt like giving people a brief explanation of why you are here - then that might help people understand why you keep asking the kind of questions you keep asking.
Why people are rejecting Blockstream's heavily modified version of Bitcoin - and sticking with Satoshi's original version of Bitcoin (now called Bitcoin Cash or BCC)
The above reasons are why many of us will not use AXA-owned Blockstream's Bitcoin.
We want to continue using Satoshi's original Bitcoin, now being renamed Bitcoin Cash (ticker: BCC, or BCH) - because we want to continue to enjoy the benefits of:
submitted by ydtm to btc [link] [comments]

How Satoshi Nakamoto Stole The Technology Of Money - YouTube BitCoin and BlockChain Theory and Attacker Success Probability La Pizarra de Bitcoin #0004 - ¿Qué es Bitcoin? Roger Ver Wants to Buy - YouTube The Genius of Satoshi Nakamoto -Bitcoin Motorist #0007

Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. . Most client software, derived or "from ... History of Bitcoin cryptocurrency.Bitcoin is a decentralized cryptocurrency created in 2008 by the pseudonymous Satoshi Nakamoto.This account resumes the whole history of Bitcoin since 2008 to 2017 and 2018.. On 18 August 2008, the domain name was registered.. Later that year on October 31st, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic ... Bitcoin is a peer to peer electronic cash system created by Dr. Craig Wright under the pseudonym Satoshi Nakamoto. It was first detailed in the Bitcoin Whitepaper in October 2008, and the source code was released in January 2009. The Bitcoin ledger and Block chain were established with the generation of the Genesis block on the 3rd of January 2009 and the mining of Block 1 six days later on ... The following is the fifth installment of “the many facts” series, a look at the evidence that was tethered to Dorian Nakamoto and Bitcoin's creator. Satoshi Nakamoto ist der Gründer von Bitcoin und der ursprüngliche Autor des Original Bitcoin Client.Er sagte in einem P2P Foundation Profil, dass er aus Japan kommt.Abgesehen davon gibt es kaum Informationen über seine Identität. Er hat seit 2007 an Bitcoin gearbeitet.

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How Satoshi Nakamoto Stole The Technology Of Money - YouTube

¿Qué es Bitcoin? Las cuatro innovaciones claves de Bitcoin. Satoshi Nakamoto Hal Finney Material de Apoyo: Bitcoin White Paper: Research project for CSIS 2810 Sources: "Choosing BOINC Projects." BOINC. Berkeley, n.d. Web. 23 Oct. 2015. Nakamoto, Satoshi. "Bitcoin: A Peer-to-Peer Elect... In August 2008, an individual believed to be Bitcoin creator, Satoshi Nakamoto, purchased through an anonymous domain registrar. When Satoshi lef... This video is unavailable. Watch Queue Queue. Watch Queue Queue Bitcoin is a peer-to-peer Electronic cash system proposed by Satoshi Nakamoto in paper published in 2007. This video demonstrates how Bitcoin theory works by using ZCubes to experiment with the ...