Running Bitcoind – BitcoinWiki

Easy UASF Node in Debian VM tutorial

So if you have a moderately powerful gaming desktop with a Quad-Core CPU like an i5 or better and 8+GB of RAM, you can easily run your own little UASF node in the background. Once it's done syncing with the network, you won't even notice it's there. Here's how.
You will need :
The following assumes you know how to install Linux in a Virtual Machine
Step I. - Installation. Go through expert install and set up a base system with only ssh server enabled. For partitioning, you can do just one big disk and everything in one partition, but if you happen to have a computer that has both SSD's and HDD's, it would be optimal to create two virtual disks and use a small one for the OS on the SSD and a larger one on the HDD in a custom mount point for the blockchain. Reboot and ssh into the server.
Step II. - Build requirements. A few things need to be taken care of. First, you'll want to edit the /etc/network/interfaces file and set up a static IP. Once that's done, stop by your router and make sure that traffic on port 8333 is forwarded to your debian VM. Then, install some packages we need :
apt update apt upgrade apt install build-essential autoconf libssl-dev libboost-dev libboost-chrono-dev libboost-filesystem-dev libboost-program-options-dev libboost-system-dev libboost-test-dev libboost-thread-dev libevent-dev git libtool pkg-config 
The next one is a bit more annoying. We need Berkeley DB 4.8, and it's a little old. It's packages are in the Debian Squeeze archives, so in the /etc/apt/sources.list file, we need to add :
deb http://archive.debian.org/debian/ squeeze main 
Then remember to update again, and install the thing :
apt install libdb4.8++-dev libdb4.8-dev 
If you intend to also throw on xorg and a UI, you will want Qt as well. Otherwise skip this last step.
install libqt4-dev libprotobuf-dev protobuf-compiler libqrencode-dev 
Step III. - Build time
#Starting from /home/yourUser git clone https://github.com/UASF/bitcoin.git -b 0.14-BIP148 cd bitcoin ./autogen.sh ./configure make make install 
That's it! Well, mostly. Start it with
bitcoind -daemon -disablewallet -datadir=/whereveyou/want/youblockchain 
...and wait about thirty hours to sync with the network. You may want to visit the /whereveyou/want/youblockchain directory and create a permanent bitcoin.conf in there. To enable RPC calls to the server and get it to accept bitcoin-cli commands you'll want to use it to create a usepassword and copy that to your user's /.bitcoin/bitcoin.conf.
Minimal bitcoin.conf example
daemon=1 listen=1 disablewallet=1 server=1 rpcuser=bob rpcpassword=bob's password 
Security I recommend you disable password login and use private key authentication only on ssh, and also restrict iptables rules to the bare minimum that must be allowed for this application. You will need this in your iptables script :
# Allows BITCOIN traffic from anywhere -A INPUT -p tcp --dport 8333 -j ACCEPT # Allows RPC calls to the bitcoin server from localhost -A INPUT -p tcp -s 127.0.0.1 --dport 8332 -j ACCEPT 
Useful ressources :
submitted by the_bolshevik to Bitcoin [link] [comments]

Bitcoin Fullnode Install Guide for Dummies ;-)

Bitcoin Fullnode Install Guide for Dummies ;-)
Feel free to stop at Level 0 or Level 1, which is fine. More advanced configs are offered to those with more tech savvy. This guide, obviously assumes a Windows 10 install, but other OSes work fine, just find a different guide. BTW, the "For Dummies" is a callback to a set of "tech" books in the 90's intended to be as easy as possible. It is in jest and not intended to insult the reader. Finally, if you dislike the formatting, a well formatted copy can be found here
There is a fairly small subset of Bitcoin users that run a full node. I think the idea of running a full node has gotten a bad rap over the years since there is so much talk about running on a Raspberry Pi, or getting zippy SSDs. Although all of this can be fun, it is often not really required at all. Here are some ways to run a full node starting with the very simple. I'll get into more complex configs, but these are all optional.

Tech Skill Level: 0 (the basics)

  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
In many cases, thats it. If your running a new machine with a fairly good internet connection, 8 or 9 hours will be enough to complete the "Initial Block Download" (IBD). This may fill up your drive a bit, but again, on most new machines, 300 GB of space isn't that hard to come by.

Tech Skill Level: 1 (encrypted wallet)

One thing we left out in the level-0 exercise is encrypting your wallet. It's easy enough to do well, but a bit more difficult to do right. The main challenge is that humans generate really poor passwords. If you want a good password, the best way is to use something called "diceware". Basically, you just grab 4 or 5 dice and each throw of the dice represents a certain word on a special list. The throw {1,4,5,3,1} for example would be the word camping on the EFF-diceware-wordlist. So you repeat this a few times until you have a list of 8 or so words which becomes the passphrase you use to encrypt your wallet. Write it down, it is always hard to remember at first. So at level-1 your list becomes:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Choose Encrypt Wallet from the Settings menu
  5. Enter your 8 word (or so) passphrase generated using the Diceware method

Wallet Encryption Dialog

Tech Skill Level: 2 (enable pruning if needed)

Though I said "300 GB of space isn't hard to come by", some times it actually is. If space is an issue, a simple way to fix it is to tell bitcoin to simple take less space. This is called "pruning" and can take that number from 300 GB down to below 5 GB. If you can't find 5 GB, then you'll have to read ahead to level-4 to add USB storage. But the good news is, enabling pruning is pretty easy, we just add another step to our working list:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Choose Options from the Settings menu
  6. Choose Prune block storage to: and select the max size for the blocks to use
  7. Exit and restart the bitcoin application for the changes to take effect

Pruning Dialog
Note, even setting this to 1 GB will still leave you with about a 4.5 GB install. The blocks take up a lot of space, but the chainstate and other folders eat up at least 3.5 GB and they can't be pruned. Also, be aware, to disable pruning requires you to perform the entire IBD again. While pruned some other functions my be disabled as well, so just know that pruning does limit some functionality.

Tech Skill Level: 3 (verify the installer)

Although this is arguably something that should be done at level-0, some find the intricacies of comparing hash (thumbprint) values to be tedious and beyond the scope of a beginner. You will find these types of hash compares suggested quite often as a way to prevent running tainted programs. Programs are often tainted by bad disk or network performance, but most often, taint is malicious code inserted by viruses or malware. This is a way to guard yourself against those types of attacks.
What I cover here is a very basic comparison on the certificate, but a more thorough verification advised by mosts uses a program called Gpg4Win, and is beyond the scope of this beginners guide. But regardless, most users should strive to do this minimum level of validation.
  1. Download Bitcoin Core
  2. Launch the downloaded installer
  3. When prompted "Do you want to allow..." click Show more details
  4. In the details section select Show information about the publisher's certificate
  5. In the certificate window select the Details tab
  6. In the Details tab Subject should start with "CN = Bitcoin Core Code Signing Association"
  7. Ensure Thumbprint in Details reads ea27d3cefb3eb715ed214176a5d027e01ba1ee86
  8. If the checks pass, click OK to exit the certificate window and Yes to allow the installer to run.
  9. Launch the installed "Bitcoin Core" app and let it run overnight
  10. Do the wallet encryption steps here if you wish
  11. Do the optional pruning steps here if you wish

Certification Validation Windows
Note: The certificate used to sign the current Bitcoin installer is only valid from March 2020 to March 2021. After that point the thumbprint on the certificate will change. This is by design and intentional. If your reading this post after March 2021, then it is understood that the thumbprint has changed.

Tech Skill Level: 4 (use secondary storage)

We glossed over the "new machine with fairly good internet" part. Truth be known many people do not have fairly new machines, and find the IBD to take longer than the "over night" best wishes. For most people the slowdown is the disk access when calculating what is called chainstate. This requires fast random reads and writes to the disk. If you have an SSD disk, this will be no problem, but if you have a non-SSD "spinning" disk, random writes are always slow. Though an SSD will speed things up, they are pricey, so a nice middle ground may be a simple high-end USB key drive. You can get some with 10 to 15 MB/s random writes for $20 on Amazon. This is usually a order of magnitude faster than a "spinning" disk. And with pruning (see level-2), a small USB drive should be fine.
Once you decide on a drive, the tricky part will be to enable external storage. It requires editing a configuration file and adding a line. First, we want to create a directory on the key drive. You will need to determine the drive letter of your USB key drive. For the sake of this example, we will assume it is D:, but you must determine this yourself and correct the example. Once you know the drive letter, create a blank folder on the drive called Bitcoin. So for this example, creating Bitcoin on drive D: will create the path D:\Bitcoin. Once done, assuming that D: is your drive, here are the new steps including the edit of the configuration file:
  1. Download Bitcoin Core
  2. Launch the installer, verify it, then run it
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Do the optional pruning steps here if you wish
  6. Launch "Notepad" by typing "Notepad.exe" in the windows search bar then click Open
  7. Type the line datadir=D:\Bitcoin (depending on your drive letter) in the blank file
  8. Choose Save from the File menu in notepad
  9. Type %APPDATA%\Bitcoin\bitcoin.conf (note the percent signs) in the File name box
  10. Select All Files from the Save as type dropdown
  11. Click the Save button and overwrite the file if prompted
  12. Exit and restart the bitcoin application for the changes to take effect

Save As Dialog
Now that you've reached this level of technical expertise, there are many new configuration options that you can begin to modify if you wish. Most configuration data is contained in the bitcoin.conf file and learning how to maintain it is a key step for a node operator.

Tech Skill Level: 5 (all other customizations)

Here's a short list of various things you can ADD to your bitcoin.conf file. You generally just add a new line for each configuration settings.
  • addresstype=bech32
  • changetype=bech32
The addresstype / changetype allows your wallet to use the native-segwit (bech32) format. This is the most efficient and inexpensive way to spend bitcoin, and is a recommended configuration. The default uses something called p2sh-segwit which is more compatible with older wallets, but more expensive to spend.
  • minrelaytxfee=0.00000011
Changing the minrelaytxfee setting allows you to help propagate lower fee transactions. It will require more memory but TXN memory is capped at 300 MB by default anyways, so if you have enough memory, it is a good setting to choose.
  • dbcache=2048
The dbcache setting controls how many MB of memory the program will use for the chainstate database. Since this is a key bottleneck in the IBD, setting this value high (2048 MB) will greatly speed up the IBD, assuming you have the memory to spare
  • blocksdir=C:\Bitcoin
  • datadir=D:\Bitcoin
In level-4 we discussed moving the datadir to a fast external storage, but the majority of the space used for bitcoin is the blocks directory (blocksdir). Although you should always use for fastest storage for datadir, you are free to use slow storage for blocksdir. So if you only want to consume a small amount of your SSD (assumed D:) then you can keep your blocks on your slow "spinning" drive.
  • upnp=1
One of the harder challenges you may face running a node, is to get incoming connections. If you are lucky, you may find that your firewall and network HW support the uPnP protocol. If they do, this setting will allow bitcoin to configure uPnP to allow incoming connections to your node. Other methods exist to make your node reachable, but they are well beyond the scope of this guide.
submitted by brianddk to Bitcoin [link] [comments]

Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [link] [comments]

Distortion with a Focusrite Scarlett Solo (3rd Gen)

EDIT2: I can find no pattern to this mind numbingly frustrating problem. Switching back and forth between devices and sample rates in Reaper is not solving the problem now. I have no clue what does it.
EDIT: Just FYI, it looks like changing the sample rate in /etc/pulse/pulse/daemon.conf didn't actually solve it, though it's only just happened for the first time in a long time. I did find that going BACK to ALSA in Reaper, changing the sample rate there, and then switching back to Pulse (still in Reaper) fixed it at least this time though, so anyone who comes across this can try that.
I'm running Ubuntu 20.04. I often deal with very fuzzy distortion from my Scarlett Solo audio interface (EDIT: the distortion is on the output, not the input). Sometimes I don't notice what causes it to start, but it does seem to have several causes. For example, Opening up PulseAudio Sound Control or opening/closing Reaper can cause it to start, and there doesn't seem to be a way to fix it besides restarting. Looks like it only affects PulseAudio, since selecting ALSA as my driver in Reaper does eliminate the distortion in Reaper, but I'm still stuck with the distortion everywhere else until I restart.
Here's what it sounds like:
https://www.youtube.com/watch?v=4oPbP1vOIcE
(Original video for comparison, though I don't think you'll need it)
If I try to record the output to OBS, I get undistorted audio in the recording.
Any idea what's going on here, and how to prevent it?
Potentially relevant information:
This has happened regularly for a long time. Sorry if that makes it harder to diagnose. I just haven't had the energy to look into it until now.
I started with Ubuntu Studio 18.04. (This comes with JACK, and maybe there's a conflict there? I'm a terrible linux audio user, because I still haven't really figured out JACK.)
When I first installed the OS, I followed some tutorials to set up Ubuntu for Audio. (Many of the things were, apparently, not already set, even with Ubuntu Studio.) Unfortunately, I couldn't tell you what all I did. (It was a while ago, before I had the interface, iirc.)
Also, while I realize it wouldn't really come close to compensating folks for their time and effort, I'd love to tip a few dollars of Bitcoin Cash to anyone who can help me here, at least to show that I appreciate and value that time and effort. And of course, please feel free to point me towards required reading, or ask for more info I should provide. Thanks in advance!
Ubuntu 20.04
Xfce
GTX 2070 Super
GA-970A-UD3P
AMD 8320
Focusrite Scarlett Solo (3rd Gen)
submitted by AD1AD to linuxaudio [link] [comments]

10-15 13:23 - '[quote] That’s the purpose of this thread. If nothing has changed since 2018 what makes you think it ever will? Also, all of these payment processors you’ve shown are in infancy stage and do not provide any benefits to usa...' by /u/consultinglove removed from /r/Bitcoin within 0-3min

'''
Know that bitcoin itself does not work well for retail/point-of-sale. This is because zeroconf (0-conf) bitcoin transactions are not safe. For retail / point-of-sale, the bitcoin Lightning network ⚡ provides instant, non-reversible, and ultra-low cost payments. While LN is used today, it might not yet be ready for retail/p.o.s. applications just yet.
That’s the purpose of this thread. If nothing has changed since 2018 what makes you think it ever will? Also, all of these payment processors you’ve shown are in infancy stage and do not provide any benefits to usage (% cash back for example), in fact, every single one of them literally cost money to use (tx cost)
It’s crazy how this subreddit has been stuck in time for years!
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: consultinglove
submitted by removalbot to removalbot [link] [comments]

A simple game of node tag to increase your incoming connection count.

Become one of the 1% of "listening" (aka "super") nodes.
Recently played with setting up an onion node and found for the first day or so it was difficult to get incoming connections via tor. If anyone wants to increase their incoming connection count, just DM me your network and node info and I'll addnode you. If you don't care about association, you can just reply with your node info on thread.
```

Format

:

Examples

mainnet 88.99.167.175:8333 mainnet [2a01:4f8:10a:37ee::2]:8333 mainnet pymhrtleulgjtjpv.onion:8333 testnet 88.99.167.175:18333 ```
If you want to do the same, just ask for node info on this thread or ask for DMs as well. To add named nodes at startup, add the following to your bitcoin.conf. These are just random public nodes, obviously add your own nodes in your conf file.
```

Mainnet nodes in the 'main' section

[main]

https://bitnodes.io/

addnode=88.99.167.175:8333 addnode=[2a01:4f8:10a:37ee::2]:8333

random node

pymhrtleulgjtjpv.onion:8333

Testnet nodes in the 'test' section

[test]

https://bitnodes.io/

addnode=88.99.167.175:18333

random node

addnode=3v6wv6ibu4r6hn6p.onion:18333 ```
* - Reserve the right to filter based on reddit karma
submitted by brianddk to Bitcoin [link] [comments]

[ANN][ANDROID MINING][AIRDROP] NewEnglandcoin: Scrypt RandomSpike

New England
New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/
NewEnglandcoin
Symbol: NENG
NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones.
Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt.
1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377
NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number
Bitcoin Fork - Suitable for Home Hobbyists
NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs.
The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity.
MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018)
https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn
CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software.
Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%.
NENG v1.4.0 release enabled CPU mining inside android phones.
Youtube Video Tutorial
How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg
How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ
Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG.
We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange.
Twitter Airdrop
Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners
Graphic Redesign Bounty
Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs
Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form.
Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues.
Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1
Milestones
Roadmap
NENG v1.4.0 Android Mining, randomSpike Evaluation https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/NENG_2020_Q3_report/NENG_2020_Q3_report.pdf
RandomSpike - NENG core v1.3.0 Hardfork Upgrade Proposal https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2020Q1_Report/Scrypt_RandomSpike_NENGv1.3.0_Hardfork_Proposal.pdf
NENG Security, Decentralization & Valuation
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2019Q2_report/NENG_Security_Decentralization_Value.pdf
Whitepaper v1.0 https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/whitepaper_v1.0/NENG_WhitePaper.pdf
DISCORD https://discord.gg/UPeBwgs
Explorer
http://www.findblocks.com/exploreNENG http://86.100.49.209/exploreNENG http://nengexplorer.mooo.com:3001/
Step by step guide on how to setup an explorer: https://github.com/ShorelineCrypto/nengexplorer
Github https://github.com/ShorelineCrypto/NewEnglandCoin
Wallet
Android with UserLand App (arm64/armhf), Chromebook (x64/arm64/armhf): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.5
Linux Wallet (Ubuntu/Linux Mint, Debian/MX Linux, Arch/Manjaro, Fedora, openSUSE): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.3
MacOS Wallet (10.11 El Capitan or higher): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.2
Android with GNUroot on 32 bits old Phones (alpha release) wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0
Windows wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.3.0.1
addnode ip address for the wallet to sync faster, frequently updated conf file: https://github.com/ShorelineCrypto/cheetah_cpumineblob/mastenewenglandcoin.conf-example
How to Sync Full Node Desktop Wallet https://www.reddit.com/NewEnglandCoin/comments/er6f0q/how_to_sync_full_node_desktop_wallet/
TWITTER https://twitter.com/newenglandcoin
REDDIT https://www.reddit.com/NewEnglandCoin/
Cheetah CPU Miner Software https://github.com/ShorelineCrypto/cheetah_cpuminer
Solo Mining with GPU or ASIC https://bitcointalk.org/index.php?topic=5027091.msg52187727#msg52187727
How to Run Two Full Node in Same Desktop PC https://bitcointalk.org/index.php?topic=5027091.msg53581449#msg53581449
ASIC/GPU Mining Pools Warning to Big ASIC Miners Due to DynDiff Algo on top of Scrypt, solo mining is recommended for ASIC/GPU miners. Further more, even for mining pools, small mining pool will generate better performance than big NENG mining pool because of new algo v1.2.x post hard fork.
The set up configuration of NENG for scrypt pool mining is same as a typical normal scrypt coin. In other word, DynDiff on Scrypt algo is backward compatible with Scrypt algo. Because ASIC/GPU miners rely on CPU miners for smooth blockchain movement, checkout bottom of "Latest News" section for A WARNING to All ASIC miners before you decide to dump big ASIC hash rate into NENG mining.
(1) Original DynDiff Warning: https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708 (2) New Warning on RandomSpike Spike difficulty (244k) introduced in RandomSpike served as roadblocks to instant mining and provide security against 51% attack risk. However, this spike difficulty like a roadblock that makes big ASIC mining less profitable. In case of spike block to be mined, the spike difficulty immediately serve as base difficulty, which will block GPU/ASIC miners effectively and leave CPU cheetah solo miners dominating mining almost 100% until next base difficulty reset.
FindBlocks http://findblocks.com/
CRpool http://crpool.xyz/
Cminors' Pool http://newenglandcoin.cminors-pool.com/
SPOOL https://spools.online/
Exchange
📷
https://shorelinecrypto.com/
Features: anonymous sign up and trading. No restriction or limit on deposit or withdraw.
The trading pairs available: NewEnglandcoin (NENG) / Dogecoin (DOGE)
Trading commission: A round trip trading will incur 0.10% trading fees in average. Fees are paid only on buyer side. buy fee: 0.2% / sell fee: 0% Deposit fees: free for all coins Withdraw fees: ZERO per withdraw. Mining fees are appointed by each coin blockchain. To cover the blockchain mining fees, there is minimum balance per coin per account: * Dogecoin 2 DOGE * NewEnglandcoin 1 NENG
Latest News Aug 30, 2020 - NENG v1.4.0.5 Released for Android/Chromebook Upgrade with armhf, better hardware support https://bitcointalk.org/index.php?topic=5027091.msg55098029#msg55098029
Aug 11, 2020 - NENG v1.4.0.4 Released for Android arm64 Upgrade / Chromebook Support https://bitcointalk.org/index.php?topic=5027091.msg54977437#msg54977437
Jul 30, 2020 - NENG v1.4.0.3 Released for Linux Wallet Upgrade with 8 Distros https://bitcointalk.org/index.php?topic=5027091.msg54898540#msg54898540
Jul 21, 2020 - NENG v1.4.0.2 Released for MacOS Upgrade with Catalina https://bitcointalk.org/index.php?topic=5027091.msg54839522#msg54839522
Jul 19, 2020 - NENG v1.4.0.1 Released for MacOS Wallet Upgrade https://bitcointalk.org/index.php?topic=5027091.msg54830333#msg54830333
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining, Ubuntu 20.04 support https://bitcointalk.org/index.php?topic=5027091.msg54803639#msg54803639
Jul 11, 2020 - NENG v1.4.0 Android Mining, randomSpike Evaluation https://bitcointalk.org/index.php?topic=5027091.msg54777222#msg54777222
Jun 27, 2020 - Pre-Announce: NENG v1.4.0 Proposal for Mobile Miner Upgrade, Android Mining Start in July 2020 https://bitcointalk.org/index.php?topic=5027091.msg54694233#msg54694233
Jun 19, 2020 - Best Practice for Futurebit Moonlander2 USB ASIC on solo mining mode https://bitcointalk.org/index.php?topic=5027091.msg54645726#msg54645726
Mar 15, 2020 - Scrypt RandomSpike - NENG v1.3.0.1 Released for better wallet syncing https://bitcointalk.org/index.php?topic=5027091.msg54030923#msg54030923
Feb 23, 2020 - Scrypt RandomSpike - NENG Core v1.3.0 Relased, Hardfork on Mar 1 https://bitcointalk.org/index.php?topic=5027091.msg53900926#msg53900926
Feb 1, 2020 - Scrypt RandomSpike Proposal Published- NENG 1.3.0 Hardfork https://bitcointalk.org/index.php?topic=5027091.msg53735458#msg53735458
Jan 15, 2020 - NewEnglandcoin Dev Team Expanded with New Kickoff https://bitcointalk.org/index.php?topic=5027091.msg53617358#msg53617358
Jan 12, 2020 - Explanation of Base Diff Reset and Effect of Supply https://www.reddit.com/NewEnglandCoin/comments/envmo1/explanation_of_base_diff_reset_and_effect_of/
Dec 19, 2019 - Shoreline_tradingbot version 1.0 is released https://bitcointalk.org/index.php?topic=5121953.msg53391184#msg53391184
Sept 1, 2019 - NewEnglandcoin (NENG) is Selected as Shoreline Tradingbot First Supported Coin https://bitcointalk.org/index.php?topic=5027091.msg52331201#msg52331201
Aug 15, 2019 - Mining Update on Effect of Base Difficulty Reset, GPU vs ASIC https://bitcointalk.org/index.php?topic=5027091.msg52169572#msg52169572
Jul 7, 2019 - CPU Mining on macOS Mojave is supported under latest Cheetah_Cpuminer Release https://bitcointalk.org/index.php?topic=5027091.msg51745839#msg51745839
Jun 1, 2019 - NENG Fiat project is stopped by Square, Inc https://bitcointalk.org/index.php?topic=5027091.msg51312291#msg51312291
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto https://bitcointalk.org/index.php?topic=5027091.msg50714764#msg50714764
Apr 7, 2019 - Announcement of Fiat Project for all U.S. Residents & Mobile Miner Project Initiation https://bitcointalk.org/index.php?topic=5027091.msg50506585#msg50506585
Apr 1, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50417196#msg50417196
Mar 27, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50332097#msg50332097
Mar 17, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50208194#msg50208194
Feb 26, 2019 - Community Project - NewEnglandcoin Graphic Redesign Bounty Initiated https://bitcointalk.org/index.php?topic=5027091.msg49931305#msg49931305
Feb 22, 2019 - Dev Policy on Checkpoints on NewEnglandcoin https://bitcointalk.org/index.php?topic=5027091.msg49875242#msg49875242
Feb 20, 2019 - NewEnglandCoin v1.2.1 Released to Secure the Hard Kork https://bitcointalk.org/index.php?topic=5027091.msg49831059#msg49831059
Feb 11, 2019 - NewEnglandCoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork https://bitcointalk.org/index.php?topic=5027091.msg49685389#msg49685389
Jan 13, 2019 - Cheetah_CpuMiner added support for CPU Mining on Mac https://bitcointalk.org/index.php?topic=5027091.msg49218760#msg49218760
Jan 12, 2019 - NENG Core v1.1.2 Released to support MacOS OSX Wallet https://bitcointalk.org/index.php?topic=5027091.msg49202088#msg49202088
Jan 2, 2019 - Cheetah_Cpuminer v1.1.0 is released for both Linux and Windows https://bitcointalk.org/index.php?topic=5027091.msg49004345#msg49004345
Dec 31, 2018 - Technical Whitepaper is Released https://bitcointalk.org/index.php?topic=5027091.msg48990334#msg48990334
Dec 28, 2018 - Cheetah_Cpuminer v1.0.0 is released for Linux https://bitcointalk.org/index.php?topic=5027091.msg48935135#msg48935135
Update on Dec 14, 2018 - NENG Blockchain Stuck Issue https://bitcointalk.org/index.php?topic=5027091.msg48668375#msg48668375
Nov 27, 2018 - Exclusive for PC CPU Miners - How to Steal a Block from ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48258465#msg48258465
Nov 28, 2018 - How to CPU Mine a NENG block with window/linux PC https://bitcointalk.org/index.php?topic=5027091.msg48298311#msg48298311
Nov 29, 2018 - A Warning to ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708
Disclosure: Dev Team Came from ShorelineCrypto, a US based Informatics Service Business offering Fee for service for Coin Creation, Coin Exchange Listing, Blockchain Consulting, etc.
submitted by honglu69 to NewEnglandCoin [link] [comments]

Test

Test
There is a fairly small subset of Bitcoin users that run a full node. I think the idea of running a full node has gotten a bad rap over the years since there is so much talk about running on a Raspberry Pi, or getting zippy SSDs. Although all of this can be fun, it is often not really required at all. Here are some ways to run a full node starting with the very simple. I'll get into more complex configs, but these are all optional.

Tech Skill Level: 0 (the basics)

  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
In many cases, thats it. If your running a new machine with a fairly good internet connection, 8 or 9 hours will be enough to complete the "Initial Block Download" (IBD). This may fill up your drive a bit, but again, on most new machines, 300 GB of space isn't that hard to come by.

Tech Skill Level: 1 (encrypted wallet)

One thing we left out in the level-0 exercise is encrypting your wallet. It's easy enough to do well, but a bit more difficult to do right. The main challenge is that humans generate really poor passwords. If you want a good password, the best way is to use something called "diceware". Basically, you just grab 4 or 5 dice and each throw of the dice represents a certain word on a special list. The throw {1,4,5,3,1} for example would be the word camping on the EFF-diceware-wordlist. So you repeat this a few times until you have a list of 8 or so words which becomes the passphrase you use to encrypt your wallet. Write it down, it is always hard to remember at first. So at level-1 your list becomes:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Choose Encrypt Wallet from the Settings Menu
  5. Enter your 8 word (or so) passphrase generated using the Diceware method

Wallet Encryption Dialog

Tech Skill Level: 2 (enable pruning if needed)

Though I said "300 GB of space isn't hard to come by", some times it actually is. If space is an issue, a simple way to fix it is to tell bitcoin to simple take less space. This is called "pruning" and can take that number from 300 GB down to below 5 GB. If you can't find 5 GB, then you'll have to read ahead to level-3 to add USB storage. But the good news is, enabling pruning is pretty easy, we just add another step to our working list:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Choose Options from the Settings Menu
  6. Choose Prune block storage to: and select the max size for the blocks to use
  7. Exit and restart the bitcoin application for the changes to take effect

Pruning Dialog
Note, even setting this to 1 GB will still leave you with about a 4.5 GB install. The blocks take up a lot of space, but the chainstate and other folders eat up at least 3.5 GB and they can't be pruned. Also, be aware, to disable pruning requires you to perform the entire IBD again. While pruned some other functions my be disabled as well, so just know that pruning does limit some functionality.

Tech Skill Level: 3 (verify the installer)

Although this is arguably something that should be done at level-0, some find the intricacies of comparing hash (thumbprint) values to be tedious and beyond the scope of a beginner. You will find these types of hash compares suggested quite often as a way to prevent running tainted programs. Programs are often tainted by bad disk or network performance, but most often, taint is malicious code inserted by viruses or malware. This is a way to guard yourself against those types of attacks. What I cover here is a very basic comparison on the certificate, but a more thorough comparison advised by mosts uses a program called Gpg4Win, and is beyond the scope of this beginners guide. But regardless, most users should strive to do this minimum level of validation.
  1. Download Bitcoin Core
  2. Launch the downloaded installer
  3. When prompted "Do you want to allow..." click Show more details
  4. In the details section select Show information about the publisher's certificate
  5. In the certificate window select the Details tab
  6. In the Details tab Subject should start with "CN = Bitcoin Core Code Signing Association"
  7. Also ensure Thumbprint reads ea27d3cefb3eb715ed214176a5d027e01ba1ee86
  8. If the checks pass, click OK to exit the certificate window and Yes to allow the installer to run.
  9. Launch the installed "Bitcoin Core" app and let it run overnight
  10. Do the wallet encryption steps here if you wish
  11. Do the optional pruning steps here if you wish

Certification Validation Windows
Note: The certificate used to sign the current Bitcoin installer is only valid from March 2020 to March 2021. After that point the thumbprint on the certificate will change. This is by design and intentional. If your reading this post after March 2021, then it is understood that the thumbprint has changed.

Tech Skill Level: 4 (use secondary storage)

We glossed over the "new machine with fairly good internet" part. Truth me known many people do not have fairly new machines, and find the IBD to take longer than the "over night" best wishes. For most people the slowdown is the disk access when calculating what is called chainstate. This requires fast random reads and writes to the disk. If you have an SSD disk, this will be no problem, but if you have a non-SSD "spinning" disk, random writes are always slow. Though an SSD will speed things up, they are pricey, so a nice middle ground may be a simple high-end USB key drive. You can get some with 10 to 15 MB/s random writes which is usually a order of magnitude faster than a "spinning" disk. And with pruning (see level-2), a small USB drive should be fine.
Once you decide on a drive, the tricky part will be to enable external storage. It requires editing a configuration file and adding a few lines. The configuration file needs to be in both the default directory, and USB key drive, but before we do that, we want to create a directory on the key drive. You will need to determine the drive letter of your USB key drive. For the sake of this example, we will assume it is D:, but you must determine this yourself and correct the example. Once you know the drive letter, create a blank folder on the drive called Bitcoin. So for this example, creating Bitcoin on drive D: will create the path D:\Bitcoin. Once done, assuming that D: is your drive, here are the steps to edit the two configuration files:
  1. Download Bitcoin Core
  2. Launch the installer, verify it, then run it
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Do the optional pruning steps here if you wish
  6. Launch "Notepad" by typing "Notepad.exe" in the windows search bar then click Open
  7. Type the line datadir=D:\Bitcoin (depending on your drive letter) in the blank file
  8. Choose Save from the File menu in notepad
  9. Type %APPDATA%\Bitcoin\bitcoin.conf (note the percent signs) in the File name box
  10. Select All Files from the Save as type dropdown
  11. Click the Save button and overwrite the file if prompted
  12. Exit and restart the bitcoin application for the changes to take effect

Save As Dialog
Now that you've reached this level of technical expertise, there are many new configuration options that you can begin to modify if you wish. Most configuration data is contained in the bitcoin.conf file and learning how to maintain it is a key step for a node operator.

Tech Skill Level: 5 (all other customizations)

Here's a short list of various things you can ADD to your bitcoin.conf file. You generally just add a new line for each configuration settings.
  • addresstype=bech32
  • changetype=bech32
The addresstype / changetype allows your wallet to use the native-segwit (bech32) format. This is the most efficient and inexpensive way to spend bitcoin, and is a recommended configuration. The default uses something called p2sh-segwit which is more compatible with older wallets, but more expensive to spend.
  • minrelaytxfee=0.00000011
Changing the minrelaytxfee setting allows you to help propagate lower fee transactions. It will require more memory but TXN memory is capped at 300 MB by default anyways, so if you have enough memory, it is a good setting to choose.
  • dbcache=2048
The dbcache setting controls how many MB of memory the program will use for the chainstate database. Since this is a key bottleneck in the IBD, setting this value high (2048 MB) will greatly speed up the IBD, assuming you have the memory to spare
  • blocksdir=C:\Bitcoin
  • datadir=D:\Bitcoin
In level-4 we discussed moving the datadir to a fast external storage, but the majority of the space used for bitcoin is the blocks directory (blocksdir). Although you should always use for fastest storage for datadir, you are free to use slow storage for blocksdir. So if you only want to consume a small amount of your SSD (assumed D:) then you can keep your blocks on your slow "spinning" drive.
  • upnp=1
One of the harder challenges you may face running a node, is to get incoming connections. If you are lucky, you may find that your firewall and network HW support the uPnP protocol. If they do, this setting will allow bitcoin to configure uPnP to allow incoming connections to your node.
submitted by brianddk to brianddk [link] [comments]

Recap on CoinEx & Avalanche AMA Aug 5, 2020

Recap on CoinEx & Avalanche AMA Aug 5, 2020
Written by SatoshisAngels
Published by read.cash
On August 5th 2020, Satoshi’s Angels hosted an AMA for CoinEx on “How BCH and Avalanche Are Bringing Financial Freedom to 6 Billion People” on a Chinese platform Bihu. During the 100-minute event, Haipo Yang of ViaBTC and CoinEx, and Emin Gun Sirer of AVA Labs shared their in-depth views on such topics as different consensus mechanisms, community governance, IPFS, Defi. And Haipo explained why he wants to fork BCH. This is the full text.
You can check out the full AMA here (mostly in Chinese with some English translation).

https://preview.redd.it/x790bw58axf51.png?width=1920&format=png&auto=webp&s=03c8af942f8f14d98d5dd693adf9e2a50448d61d
Cindy Wang (Satoshi’s Angels): There are news saying that you are to fork BCH. Is it a marketing makeover? Are you serious about it?
Haipo Yang: It’s definitely not a marketing makeover. But the details are not decided yet.
Over the past three years, the BCH community has gone through multiple discussions from reducing block time, changing mining algorithms, adding smart contracts, etc. But none of these disputes have been well settled.
BCH is a big failure in terms of governance. A lack of good governance has made it fall in disorder. It is too decentralized to make progress.
You may know that the first BCH block was mined by ViaBTC. And we gave a lot of support to it indeed. But we didn’t dominate the fork. The Chinese community in particular thought I had a lot of influence, but it was not true.
I think the whole community is very dissatisfied with Bitcoin ABC, but it is difficult to replace them or change the status quo. So I am thinking of creating a new branch of BCH. The idea is still in early stage. I welcome anyone interested to participate and discuss it with me.
Wang: Professor Emin, what’s your attitude to fork? Do you think it’s a good timing to fork BCH?
Emin Gun Sirer: I am a big fan of BCH. It adheres to the original vision of Satoshi Nakamoto. I like the technical roadmap of BCH. But just like what Haipo mentioned, BCH lacks a good governance mechanism. There are always something that can cause BCH community to divide itself.
But I think it’s not enough to just have a good governance mechanism. There are many good proposals in the community but failed to be adopted in the end. I think BCH needs social leadership to encourage discussion when there are new proposals.
Wang: We are all curious to know How Avalanche got its name?
I know that Avalanche doesn’t mean well in Chinese. But in English, it’s a very powerful word. Avalanche represents a series of algorithms piling together like a mountain. When decisions slowly form, the ball (nodes in the network) on top of the mountain starts going down the hill on one side, and it gets bigger and bigger, and like an avalanche and it becomes unstoppable, making the transaction final.
Wang: Prof. Emin, I know that you are a big blocker. Have you ever considered implementing Avalanche based on BCH? Why create another chain?
Sirer: Of course I considered that. Satoshi Nakamoto consensus is wonderful, but the proof-of-work mechanism and Nakamoto consensus base protocols have some shortcomings, such as network latency, and it is hard to scale. Avalanche, instead, is totally different, and is the new biggest breakthrough in the past 45 years. It is flexible, fast, and scalable. I’d love to implement BCH on top of avalanche in the future, to make BCH even better by making 0-conf transactions much more secure.
Wang: As an old miner, why did CoinEx Chain choose to “abandon” POW, and turn to POS mechanism?
Haipo: Both POW and POS consensus algorithms have their own advantages. POW is not just a consensus algorithm, but also a more transparent and open distribution method of digital currency. Anyone can participate in it through mining.
POW is fairer. For a POS-based network, participants must have coins. For example, you need to invest ICO projects to obtain coins. But developers can get a lot of coins almost for free. In addition, POW is more open. Anyone can participate without holding tokens. For example, as long as you have a computer and mining rigs, you can participate in mining. Openness and fairness are two great features of POW. POS is more advanced, safe and efficient.
POS is jointly maintained by the token holders, and there is no problem of 51% attacks. Those who hold tokens are more inclined to protect the network than to destroy the network for their own interests. To disrupt the network, you need to buy at least two-thirds of the token, which is very difficult to achieve. And when you actually hold so many coins, it’s barely possible for you to destroy the network.
POW has the problem of 51% attack. For example, ETC just suffered the 51% attack on August 3. And the cost to do that is very low. It can be reorganized with only tens of thousands of dollars. This is also a defect of POW.
In addition, in terms of TPS and block speed, POS can achieve second-level speed and higher TPS. Therefore, CoinEx Chain chose POS because it can bring a faster transaction experience. This is very important for decentralized exchanges. Both POW and POS have their own advantages. It’s a matter of personal choice. When choosing a consensus mechanism, the choice must be made according to the characteristics of the specific project.
https://preview.redd.it/upbayijaaxf51.jpg?width=1055&format=pjpg&auto=webp&s=703e3b6a493a76f86bc9045e784d174bde9d3c42
Wang: Ethereum is switching to ETH 2.0. If they succeed, do you think it will lead the next bull market?
Sirer: If Ethereum 2.0 can be realized, it must be a huge success.
But I doubt it can be launched anytime soon considering that it has been constantly delayed. And even if it comes out, I am not so sure if it will address the core scaling problem. And the main technology in Ethereum 2.0 is sharding. Sharding technology divides the Ethereum networks into small parallel groups, but I think what will happen is everyone wants to be in the same “shard” so the sharding advantages might not be realizable in Ethereum 2.0.
Avalanche supports Ethereum’s virtual machine, and Avalanche can realize 1 second level confirmation, while with sharding finalizing confirmation takes 5–6 seconds at best. Avalanche approach to make Ethereum scale is superior to Ethereum 2.0. There are many big players behind Ethereum 2.0, and I wish them success. But I believe that Avalanche will be the fastest and best Smart Contract platform in the crypto space, and it is compatible with Ethereum.
Wang: Why is Avalanche a real breakthrough?
Sirer: Avalanche is fundamentally different from previous consensus mechanisms. It’s very fast with TPS surpasses 6500, which is three times that of VISA. Six confirmations can be achieved in one second. Compared with the POW mechanism of Bitcoin and Bitcoin Cash, Avalanche’s participation threshold is very low. It allows multiple virtual machines to be built on the Avalanche protocol.
Avalanche is not created to compete with Bitcoin or fiat currencies such as the US dollar and RMB. It’s not made to compete with Ethereum, which is defined as the “world’s computer”. Avalanche is positioned to be an asset issuance platform to tokenize assets in the real world.
Wang: How do you rank the importance of community, development, governance, and technology to a public chain?
Sirer: These four are like the legs of a table. Every foot is very important. The table cannot stand without strong support.
A good community needs to be open to welcome developers and people. Good governance is especially important, to figure out what users need and respect their voices. Development needs to be decentralized. Avalanche has developers all over the world. And it has big companies building on top of Avalanche.
Yang: From a long-term perspective, I think governance is the most important thing, which is the same as running a company.
In the long run, technology is not important. Blockchain technology is developed based on an open source softwares that are free to the community. Community is also not the most important factor.
I think the most important thing is governance. Decentralization is more about technical. For example, Bitcoin, through a decentralized network method, ensures the openness and transparency of data assets, and the data on the chain cannot be tampered with, ensuring that the total amount of coins has a fixed upper limit.
But at the governance level, all coins are centralized at some degree. For example, BCH developers can decide to modify the protocol. In a sense, it is the same as managing a company.
Historically, the reasons for the success and failure of companies all stem from bad governance. For example, Apple succeeded based on Steve Jobs’s charisma, leadership and the pursuit of user experience. When Jobs was kicked out, Apple suffered great losses. After Jobs returned, he made Apple great again.
Issues behind Bitmain is also about governance. Simply put, governance requires leaders who have a longer-term vision and are more capable of coordinating and balancing the resources and interests of all parties to lead the community.
In the blockchain world, many people focus on technology. In fact, technology is not enough to make great products. User experience is most important. Users don’t care about the blockchain technology itself, but more concerned about whether it is easy to use and whether it can solve my problem.
We need to figure out how to deliver a product like Apple. The pursuit of user experience is also governance in nature. And governance itself lies in the soul of key leaders in the community.
Realize tokenization of assets in.
https://preview.redd.it/14jf1bvcaxf51.jpg?width=1082&format=pjpg&auto=webp&s=c312912142c38de986f42912086e205354162190
Wang: Speaking of asset tokenization, I would like to ask Haipo, do you think the market for assets on the chain is big?
Yang: It must be very big. We need to see which assets can be tokenized.
Assets that can be tokenized are standardized assets, sush as currencies and securities.
  1. In terms of currency, Tether has issued over 10 billion U.S. dollars. Many people think that’s too much. But I think this market is underestimated. The market for stablecoins in the future must be hundreds of billions or even trillions, especially after the release of Facebook’s Libra. Even US dollar might be issued based on the blockchain in the future.
At present, the settlement of USD currency is through the SWIFT system. But the SWIFT system itself is only a clearing network, a messaging system, not a settlement network. It takes a long time for clearing and settlement, and it is not reliable. But both USDT and USDC can quickly realize cross-border transfers in seconds and realize asset delivery. Even sovereign currencies are likely to be issued on the blockchain. I believe RMB also has such a plan.
  1. Equity and securities markets are the largest market. But they have strict requirements for market access.
Whether a stock is listed on A-shares or in the American markets, it’s hard to obtain them. I believe that the blockchain can completely release the demand through decentralization. It can allow any tiny company or even a project to issue, circulate and finance a token.
There may be only tens of thousands of stocks currently traded globally. There are also tens of thousands of tokens in the crypto space. I believe that millions or more of assets will be traded and circulated in the future. This can only be realized through decentralized technology and organization.
The market for assets tokenization will be huge. And at present, the entire blockchain technology is still very primitive. Bitcoin and Ethereum only have a few or a dozen TPS, which is far from meeting market demand. This is why CoinEx is committed to building a decentralized Dex public chain.
Wang: Avalanche’s paper was first published on IPFS. What do you think of IPFS?
Sirer: I personally like IPFS very much. It is a decentralized storage solution.
Yang: There is no doubt that IPFS solves the problem of decentralized storage, and can be robust in the blockchain world, and can replace HPPT services. But there are still three problems:
  1. IPFS is not for ordinary users. Everybody needs BCH and BTC, but only developers need IPFS, which is a relatively niche market;
  2. IPFS is more expensive than traditional storage solutions, which further reduces its practicality. In order to achieve decentralization, more copies must be stored, and more hardware devices must be consumed. In the end, these costs will be on to users.
  3. There may be compliance issues. If you use IPFS to store sensitive information, such as info from WikiLeaks, it may end up threatening national security. I doubt that decentralized storage and decentralized public chains can survive under the joint pressure of global governments.
The IPFS project solves certain problems. But from the perspective of application prospects, I am pessimistic.
Wang: What do you think of Defi?
Yang: I want to talk about the concept first.
Broadly speaking, the entire blockchain industry is DeFi in nature. Blockchain is to realize the circulation of currency, equity, and asset value through decentralization.
So in a broad sense, blockchain itself is DeFi. In a narrow sense, DeFi is a financial agreement based on smart contracts. DeFi, through smart contracts, can build applications more flexibly. For example, before we could only use Bitcoin to transfer and pay. Now with smart contracts, flexible functions such as lending, exchange, mortgage , etc. are available. The entire blockchain industry is gradually evolving under the conditions of DeFi. DeFi will definitely get greater development in the future.
Sirer: I think Defi will definitely have a huge impact. DeFi is not only an innovation in the cryptocurrency field, but also an innovation in the financial field. Wall Street companies have stagnated for years with no innovation. Avalanche fits different DeFi needs, including performance and compliance. In the future, not only will Wall Street simply adopt DeFi, but DeFi will grow into a huge market that will eventually replace the traditional financial system.
Questions from the community:
1. How does Avalanche integrate with DeFi?
Sirer: At present, all DeFi applications on Avalanche have surpassed Ethereum. What can be achieved on Ethereum can be achieved on Avalanche with better user experience. We are currently connecting with popular DeFi projects such as Compound and MakerDao to add part of or all of their functions.
At present, Avalanche is working on decentralized exchange (DEX). The current DEXs are limited by speed and performance but when they are built on top of Avalanche it will be real-time and very fast.
2. How many developers does BCH have?
Yang: I think it does not matter how many developers there are. What matters is what should be developed. I watched Jobs’ video the other day, and it inspired me a lot. We are not piecing together technology to see what technology can do. It’s we figure out what we want first and then we use the technology we need.
The entire blockchain community worship developers. Such as they call Vitalik “V God”. It’s not necessary to treat developers as wizards. Developers are programmers, and I myself is also a programmer.
ViaBTC has a development team of over 100 people, including core members from Copernicus (a dev team formerly belonged to Bitmain). Technically we are very confident to build faster, stabler, and better user experience products.
submitted by CoinExcom to btc [link] [comments]

I love AVA. Here is why.

I got into Bitcoin in late 2016, attracted to the agoristic idea of anarchist money. Once the fees started to rise, i started researching Ethereum as a potential contender. I became a fan of EOS afterwards when i heard how much of an improvement it might have on Ethereum, and was an EOS early adopter. After becoming disechanted with persistent 5% inflation, talk of UBI, and the first wave of spam related problems, i left EOS and joined Bitcoin Cash.
I have been a fan of Bitcoin Cash for a while, years now, however there are some definite problems at play. First of all, no flippening ever happened, showcasing that Proof of Work was not resistant to the government attack of capturing protocol development. There is also DAA, 0-conf, and other problems, along with a culture being ripped apart due to all the problems. And honestly it looks like it has a rough road from here, only to get the success it earns and nothing more.
I see renewed hope in AVA for Peer to Peer Electronic Cash. For so many reasons.
First of all, its deflationary like Bitcoin. This is necessary in my opinion for a hard money. Small inflation would be okay, but its also a slippery slope to travel.
It has the technical capabilities of something like Ethereum, but also like Bitcoin, since it utilized a single coin on multiple blockchains approach. This is necessary if we want to compete with Ethereum. It seems that Bitcoin Cash is facing this same utility crisis, as Ethereum is simply a beefier system utility-wise (maybe not scalability wise though).
It seems to be potentially as scalable as lightweight blockchains like EOS and Tron, which honestly is necessary for scaling to the whole world. Plus with sharding and multiple chains on the roadmap, i see potential for near infinite scaling.
Just to take a pause here, something with high scalability, high utility, while being deflationary will be the first in the universe of cryptocurrency, i can't think of one other example of something like this.
AVA also plans to be one of the most reliable blockchains and payment systems, with <3s confirmation times and future potential for free transactions using Nano-inspired Proof of Work based transactions.
And unlike Bitcoin, AVA should never face a security or decentralization crisis towards the end of its coin emission, as Staking is low cost and validators can freely join the system without burdening it to any known significant degree.
I honestly don't know what areas of AVA there are to be possibly concerned with. And because the AVA team is transparent and professional, we can probably expect there won't be another infiltration by governments/banks to undermine the project. But if there is, then the REAL users in the network could probably all somewhat easily defend it.
And the cherry on top, we get our own Epic. The Epic of Bitcoin was the story of the anonymous mastermind Satoshi Nakamoto, and the Epic of AVA is the anonymous masterminds of Team Rocket. In fact, there is a small possibility these two anonymous groups may have overlap, the mystery is a neverfading excitement for dreamers and enthusiasts to forever wonder.
I am proud to be an early adopter for AVA. AVA has real, unprecedented utility, and will be a major crypto holding of mine (possibly the only one if the competitors fail to deliver).
submitted by Jstodd_ to ava [link] [comments]

When BTC moon rockets stuck at launch pad again and again. Bitcoin Cash have created a whole new world waiting for us. I paid BCH and get my digital content every 10 seconds. No registration, no more waiting, only enjoying your purchase. This is real P2P electronic cash Satoshi expecting

When BTC moon rockets stuck at launch pad again and again. Bitcoin Cash have created a whole new world waiting for us. I paid BCH and get my digital content every 10 seconds. No registration, no more waiting, only enjoying your purchase. This is real P2P electronic cash Satoshi expecting

Instant Buy Continuously
This is not a visual special effects. This is real P2P digital cash use-case. Like using physical cash, we paid with cash then we got commodities. No more hassles.
I have created a digital P2P market which allows creators selling their digital artworks without registration and high service-fee, and peoples can buy what they want item by item. No registration, no subscription, no personal information required. Pick the images, music, video, documents and file you love, then buy it and download it. That's all.
Let's see more examples:Buy images https://youtu.be/6my6CeFUzzs https://wall.cash/List-Image
Buy Video https://youtu.be/SPYLDzMcYno https://wall.cash/List-Video
Buy Music https://youtu.be/5lw--YcQmC0 https://wall.cash/List-Music
Buy Document https://youtu.be/HgKf-iEADOI https://wall.cash/CashPort-314
You can check it by yourself.
It releases the power of real P2P electronic cash, such as instantly 0-conf purchase, https://bitcointalk.org/index.php?topic=423.msg3836#msg3836 small casual payment, https://bitcoin.org/bitcoin.pdf peer-to-peer, worldwide and more~
This website, CashBay, is still under testing, if you are interested you can check it at http://cashbay.cash/ or https://wall.cash/ However, there will be bugs I still need to fix them all.
The Pizza Day is coming, I will officially launch CashBay on Pizza Day, the day make Bitcoin as Cash. More innovative features of CashBay, such as PayWindow and CamCashifier are comming. Please wait and see.
Disclaimer: The demo videos are from Bitcoin.com. The receiving address is controlled by Bitcoin.com used for CashFusion Security Audit Fund. If you paid, your BCH will go directly to Bitcoin.com.
submitted by DiemosChen to btc [link] [comments]

How To Stake/Mine Coinevo

EVO Staking/Evo mining

Evo uses Proof of Stake consensus mechanism, which is different from Bitcoin's PoW (Proof of Work). Evo mining process in PoS system is called staking. The block producer will get 6.5EVO, as well as the transaction fees and gases as block reward. So the real reward is usually more than 6.5 evo in total.
Basic requirements for staking:
  1. Run a Coinevo fullnode, and keep online (Since Coinevo is using PoS, we don't need any mining machine, just PC or even Raspberry Pi can run a fullnode);
  2. Have some EVO in the wallet (fullnode)(Any amount of EVO can be used for staking, more EVO means higher possibility to stake).
If you have no EVO yet, please get some from market before you doing following staking settings.
Currently, Coinevo Core wallet is the only wallet that support Coinevo PoS staking. Note that other wallets like mobile wallet and Evo Electrum are not able to stake for the time being.
Two ways to stake:
Either way works in the same way for staking, so you can choose either method you like.

Method 1:Staking with evod (command line)

1. Run evod

Follow the guidance to run evod :
./evod -daemon 
Staking is default on for evod, so no need for other options if you only want to stake.

2. Send some EVO to your wallet

First you can generate a new address with:
./evo-cli getnewaddress 
This will generate a new address with Prefix '1'. You can send some EVO to this new generated address for staking. You can generate as many addresses as you like, and send arbitrary EVO as you like for staking.
Note:The coin should wait for 500 blocks before being able to stake, i.e. about 17 to 24 hours to MATURE..
After the EVO node syncing to the latest block, you can check current balance with ./evo-cli getbalance or get utxo list with./evo-cli listunspent
Please do following steps after your coin is mature.

3. Check staking info

Check current staking info with:
./evo-cli getstakinginfo 
You might get the result like this:
{ "enabled": true, "staking": true, "errors": "", "currentblocktx": 0, "pooledtx": 0, "difficulty": 3693409.779133397, "search-interval": 1577, "weight": 309584575558555, "netstakeweight": 1948540143266404, "expectedtime": 805 } 
enabled means if your wallet have enabled staking, it should be true by default. staking means if your wallet is currently staking (mining). weight stands for the amount of EVO that is staking right now, with unit 10^-8EVO, here in the example, we have 0.532EVO staking. expectedtime stands for the expected time that you will get a reward, the unit is second.

4. How to stake if the wallet is encrypted?

If your wallet is not encrypted, you can skip this section. However, for security, we recommand you encrypt your wallet.
Coinevo wallet can be encrypted with encryptwallet . However, staking will be stopped when it is encrypted. For example, ./evo-cli getstakinginfo for a encrypted wallet:
{ "enabled": true, "staking": false, "errors": "", "currentblocksize": 1000, "currentblocktx": 0, "pooledtx": 94, "difficulty": 5788429.670171153, "search-interval": 0, "weight": 53206430, "netstakeweight": 2438496688951881, "expectedtime": 0 } 
See staking turns to false , which means wallet is not staking.
You can use walletpassphrase to unlock wallet for staking:
./evo-cli walletpassphrase "" 99999999 true 
After unlocking, you can double check getstakinginfo , it should look the same with previous unlocked result, staking become true.

Method 2: Staking with evo-qt wallet (official PC wallet)

Current supported platform: Mac/Linux/Windows.

1. Open Evo qt wallet

Launch the wallet.

2. Send some EVO to your wallet

If you already have some EVO in your wallet, you might skip this step.
Note:The coin should wait for 500 blocks before being able to stake, i.e. about 17 to 24 hours to MATURE..

3. Check staking status

The flash sign at the bottom of wallet shows staking info :
Solid black flash means it is staking now. For more information, you can put your mouse on the flash, e.g.:
Hollow flash measn it is not staking
Possible reasons for not staking:
No flash sign means staking is disabled

About block reward

The block producer will get more than 6.5 EVO rewards, something to keep in mind:

How to disable staking?

Staking is by default enabled for Coinevo wallet. If you need to disable staking for some reason (for example exchanges are always recommanded to disable staking), you might following anyone of the 3 ways below:
1 Add -staking=false when running Coinevo node:
./evod -staking=false -daemon 
For qt wallet, it is like:
./evo-qt -staking=false 
2 Add config staking=false in evo.conf;
3 Encrypt wallet, since encrypted wallet will automatically stop staking.
submitted by coinevo to u/coinevo [link] [comments]

I wrote an answer to this article regarding the IFP

https://read.cash/@SeanBallard/the-simplest-reason-against-the-ifp-77cf8e9e
My answer is not "for or against the IFP"-type, BUT an answer to the "legitimate value proposition" of what funds for dev team like ABC actually is neccessary for.
I paste my answer here as well:
"through a legitimate value proposition"
Let me pitch on what value proposition the node development teams offer:
  1. Maintenance/vigilance ie. if a new attack vector against the network is found, they go in and provide a fix quickly ie. they always have one or two devs on alert. This is what e.g. ABC has been doing since the beginning of BCH.
  2. They develop the next needed upgrade features for the network - everything from single features such as a specific smart contract OP code to meet an immidiate demand in the market to more complicated upgrades/rewrites such as a much needed rewrite of the mempool acceptance code (*).
  3. They make research into areas that need more exploring before deciding on a solution. For example - everybody agrees that 0-conf needs improvement to be able to serve fast casual payment with high security, but nobody is absolutely sure what approach is the best, yet. Avalanche (/Snowglobe) is just one proposal for a solution to improved 0-conf security.
(*): The rewrite of the mempool acceptance code will solve many things, such as "removing the max 25 chain tx limit" in a safe & scalable manner, better fee policies and general scalability such as much higher transaction throughout & faster validation. The price for this much needed rewriting of mempool acceptance code, besides the needed man-months to do it, is also that back-porting of improvements from Bitcoin Core is no longer applicable which means that BCH node development will have to carry the cost of maintanence to a much higher degree than before, going forward!
submitted by chainxor to btc [link] [comments]

Act 22 new annual compliance raised from $300 to $5000!

This was warned about when they raised the annual compliance fee from $50 to $300 in 2015, but Society leaders, as it now turns out, made a grave mistake in dismissing the concerns from the wiser posters. Objectors at the time correctly pointed out that if the $300 fee wasn't stopped, there would be nothing to stop the Puerto Rican government from ratcheting up the annual compliance fee further in the future. This is an indirect, underhanded, backdoor tax on decree holders that shows the Puerto Rican government cannot be trusted. This implies there are 2380 Act 22 Decree Holders. $11,900,000/$5000=2380.
Just as the Puerto Rico government tried to circumvent getting the required approval for contracts over $10,000,000, with the Covid-19 testing kits, by instead claiming they were "purchase orders" instead of "contracts," Puerto Rico government is now sticking Act 22 Individual Investors with another $5000 tax, by raising the annual compliance "fee" from $300 to $5000, an increase of over 1500%!!! These ever higher ratcheting fees have made these programs only for the "super rich." There is no rational basis for the fee to increase by $4700 in one year.
So now its $5000 to apply for Act 22, $5000 to accept Act 22, then $15,000 more annually from the $10,000 annual charitable donation and $5000 more for annual filing? That's $25,000 total in the first year, and $15,000 or more every year, something that only the "super rich" can afford. I thought The Society was going to use its unified voice to protect Act 22 people, not only represent the "super rich." How are the benefits being preserved, when instead the decree holders that are not "super rich" are being squeezed to death with soaring taxes, hidden as soaring annual compliance filing fees?
What is to stop Puerto Rico politicians from raising the annual compliance filing fee to $50,000? As the fee is not commensurate with the costs to process the annual reports, it shows this is nothing but an underhanded illegal tax, disguised as a fee, mislabeled as a fee. Why should the annual filing compliance fee go up 100x in 5 years? That's egregiously unreasonable. Similar government arrogance is what killed the tax incentive program in the US Virgin Islands.

Lawsuit? Who can create a Puerto Rico charitable foundation with its mission to keep the Puerto Rican government honest? For those who are required to do the $5000+$5000 forced annual donations, a new charitable foundation should be established to promote honest government in Puerto Rico, to accept these donations.

I will be telling all my friends to not move to Puerto Rico because the government can't be trusted to honor the decrees without sneaking in underhanded, indirect taxes, that are mischaracterized as annual filing fees.

First article is somewhat inaccurate/misleading, since it applies to ALL Act 22 decree holders, not just those involved in cryptocurrency. It will harm everyone involved in the program, and deter many others from coming. Only the "super rich" will keep coming to Puerto Rico or stay in Puerto Rico.
https://decrypt.co/26245/puerto-rico-new-law-crypto-tax-more-expensive
New law threatens Puerto Rico’s status as crypto tax haven

Puerto Rico Governor Wanda Vazquez has signed a new law into effect that increases the yearly fee associated with tax incentives for crypto entrepreneurs.

By Jaime Chacon3 min read
Apr 21, 2020

Crypto investors and entrepreneurs looking to take advantage of Puerto Rico’s favorable tax incentives will now find it more costly to do so.
Late last week, Governor Wanda Vazquez signed Law 40-2020 into effect, which made a key change to the rules that govern tax incentives for new residents. Previously, investors who moved to the island and applied for these incentives were required to pay a yearly fee of $300 for the privilege. The new law increases that yearly fee to $5,000.
The Puerto Rican government expects to generate $11.9 million in fees with this rate increase in an update to what was formerly known as law 22-2012. The new legislation also provides a tax contribution reduction of 3% for those who earn $100,000 or less.
"The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits,” Giovanni Méndez, managing partner at Puerto Rican tax consulting firm Geo Tax, told Decrypt.
“The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island," he said. Indeed, the fees and other requirements apply to anyone who has lived in Puerto Rico for at least six months and applies for tax relief for his or her business.

Building a blockchain island in Puerto Rico

SAN JUAN—Is Puerto Rico any closer to becoming the “crypto haven” that blockchain entrepreneurs and investors once promised? The attendees of Thursday’s fourth-annual CoinAgenda Caribbean conf...
NewsBusinessJaime ChaconMar 3, 2020
According to Geo Tax, the total cost of moving to the island to save on taxes includes a $750 filing fee, $5,000 special fund fee once approved, $10,000 yearly donation (split in two), plus the new $5,000 yearly fee.
"Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value,” said Méndez. “The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation,” he said.
It’s these tax incentives that have brought entrepreneurs from across various industries, including cryptocurrency, to the US commonwealth. Co-founder of EOS Alliance Block.one Brock Pierce and gold proponent (and Bitcoin skeptic) Peter Shiff, for example, make Puerto Rico their home for at least half the year.
Just last month, during the CoinAgenda Caribbean conference in San Juan, Pierce reiterated his optimism that Puerto Rico can still become the “blockchain island”—a beacon for the industry—that was once promised.
NEXT...
https://coingeek.com/puerto-rico-changes-gears-on-digital-currency-haven-status
Business 23 April 2020
Noah Bradley 📷
Puerto Rico was once seen as a perfect location for digital currency startups. It had considerable tax incentives in place that benefited investors and entrepreneurs, which led to an increase in the development of business solutions in the U.S.-controlled territory. However, either by design or due to economic shortcomings caused by the coronavirus and other disasters, Puerto Rico needs to find new sources of revenue. As a result, a new law has been approved that will change the structure of the digital currency tax incentive programs in place.
Puerto Rico Governor Wanda Vazquez approved a new law last week, Law 40-2020, that alters the way tax incentives are provided to new residents. Spanish media outlet El Nuevo Día (The New Day) points out that the previous annual fee of $300 for those who moved to the island and applied for the incentive has been substantially increased. It has now jumped up to $5,000, and is expected to generate an additional $11.9 million for the government. In addition, there is also a new tax contribution reduction equal to 3% for anyone who earns $100,000 or less.
In correspondence with Decrypt, Puerto Rican tax consultant Giovanni Méndez, representing tax consulting firm Geo Tax, says, “The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits. The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island.”
Now, for anyone wishing to move to the island, the upfront expenses are much higher, somewhat negating the existing tax incentives. There is a $750 filing fee, a $5,000 “special fund fee” if the filing application is approved, a $10,000 obligatory annual contribution (with the possibility of having the fee made in two payments) and the new $5,000 fee.
The structure will be detrimental to entities in the blockchain and digital currency spaces, and Méndez adds, “Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value. The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation.”
The changes could force many who have decided to call the territory home to pack up and look for better, cheaper alternatives. Puerto Rico has been slammed by a number of major storms in recent years that have almost decimated its infrastructure, and the U.S. has been indifferent in providing a considerable amount of relief. The weakened foundation and the new fees might be enough to thwart Puerto Rico’s plans of being a major digital currency hub.
NEXT...Key part translated from Spanish...
https://www.elnuevodia.com/noticias/locales/nota/wandavazquezfirmaenmiendasalareformacontributiva-2562250
imposes a contribution of $5,000, previously $300 - for the delivery of each annual report presented by the citizens benefiting from the benefits. of the Law to Encourage the Transfer of Individual Investors to Puerto Rico, previously known as Law 22-2012.
That last increase will generate $ 11.9 million new, according to Soto told the press.
submitted by wdyg to act2022 [link] [comments]

Let's discuss the 'one chain or none approach' and BSV winning narrative - aside from CSW!

It's been a bit quiet on here, and since a lot of things are up in the air about the court case currently, I thought I would start a discussion that is largely unrelated to CSW except for in addressing some of the broadly accepted statements and predictions for the longer term performance of BSV.
I wanted to make this thread because there have been fragmented discussions on this that I have found interesting and engaging, and I would like to put it in one place. I think it also addresses a very key point which I believe both sides will agree on - the 'survival' of BSV regardless of whether CSW is Satoshi.
I feel there are a few key areas around which this revolves so I will attempt to capture them below and hopefully we can address each one and why it could/couldn't leave BSV as the sole survivor without it descending into bickering.
  1. The whole bitcoin whitepaper narrative, and the flaws of other chains, in particular bitcoin core and cash. Aside from interpretations of the whitepaper, a lot of this narrative is based on things that BTC or other chains have done wrong which prevent scaling. My issues with this argument are primarily that some the 'facts' that are used as an argument against BTC are basically not true. Blocks are not actually capped at 1MB, Segwit does not break the chain of digital signatures and non segwit nodes can still verify transactions that have happened using segwit. Obviously segwit didn't fix all the problems it was meant to and the lightning network is awful, but it seems like one of the first arguments presented against BTC in favour of BSV relates to the above, but just because they are repeated incessantly does not make them true. If core presented a valid scaling solution within certain parameters surely this is a huge setback for BSV. For other chains I'll be more general, but I think it comes across as ignorant to say that the system proposed in the whitepaper is the only thing that could ever work. What if something that does not yet exist comes along tomorrow (like it has done before) and is better. Ethereum has it's flaws, but on the back end it is a proof of work chain that has consistently achieved higher daily transactions and an order of magnitude greater functionality than bitcoin since some point in 2017 with the downside that the blockchain is bigger. This obviously does not phase the BSV camp, so why fork from something that was already 'on the back foot' with respect to the metrics that are hailed as important. I do not see BSVs unique proposition in this respect.
  2. The crude approach to scaling metrics. I will concede this is more just a thing that annoys me which I want to address and for the purpose of my posts define, obviously people are free to disagree and discuss. A lot of the social media debates revolve around 'scaling' and for good reason. But I want to explore the definition of that word. To me, doubling a block size to double the number of transactions is not scaling, that is a crude way to increase throughput. Scaling would be fitting twice the number of transactions into the same block, for example. They are not the same thing, and crudely increasing throughput will have diminishing returns effects in relation to performance. The other scaling metric that annoys me is quotes in TPS when we're talking about bitcoin rules which is a new block every 10 minutes. Functionally this is completely misleading and should be looked at with respect to finality. If I had an account with a bitcoin in it, I could spam a bunch of 'valid' 1 bitcoin transactions to nodes, yet after the block is mined obviously only one of those can be valid. Daily transaction metrics are good, or unique address interactions etc, but quoting 'high' TPS just because a big block was mined after 10 minutes does not necessarily make that any more useful. I do not see BSVs unique proposition in this respect.
  3. The legal compliance thing vs anarachist thing that is being pushed and about it being the 'only' legal compliant chain. This is basically nonsense, code is code, obviously it is not law. Code is a neutral ruleset which people choose to participate with and abide by. Nothing is black and white, one could choose to be completely legal things on any other chain and completely illegal things on BSV to the same effect. I don't think there is a BSV vs other chains argument to be made here from either perspective. The law is the law, it doesn't matter which software you use to abide by it or break it with.
  4. The decentralisation debate. I have less to say on this one but I don't think it's a compelling case for any approach as being objectively better or worse. Decentralisation is a spectrum and there is no universal sweet spot. On one end we have the 'everyone run a node' approach and on the other end we have host everything on AWS. BSV is somewhere in the middle of this, no one knows what the 'correct' amount of decentralisation is for general purposes so I do not see how it can be claimed that BSV has an optimal approach as long as it remains functional.
  5. This is my personal point of greatest interest. I wouldn't say I'm a die hard supporter of any chain in particular, so I do think it is a worthwhile experiment trying the big block approach to see what happens. The issue is the assumption that this is the correct and best solution for doing everything on the blockchain. This leads me to the thinking that BSV is getting stuck in a 'jack of all trades - master of none' scenario. Whilst this means it may perform 'fine' functionally at the moment, it feels that all things equal, it may not survive long term and will certainly never be the dominant chain because there will always be a better alternative for a specific purpose, four general examples that I can think of below:
    1. Security of a significant transaction. Lets say a house purchase, if I had to choose a chain I would obviously choose BTC because it has the greatest hashrate by orders of magnitude. I will happily pay a fee and wait for a few confirmations to know that as far as blockchains go, my transaction is as final as possible. Obviously this example uses current state of things, but obviously this use case will always go to the most secure chain, which could be anything. I cannot see a compelling case for this becoming BSV.
    2. Microtransactions. I agree this is very important, and this narrative is pushed a lot in BSV. The problem is, there are plenty of chains currently that allow fast transactions with finality in seconds that are literally fee free. Whilst it is true that BSV can do really cheap transactions, what is the point when there is a faster and cheaper alternative. The same applies to SPV and 0-conf, while they might be 'fine' most of the time, why rely on them when you don't have to. Whilst there are more concerns over security for these fast and free chains, if we're talking beer money or whatever it's less of an issue if you're paying for convenience. This sort of echoes what Craig said in the bitcoin vision video from the other day that I agree with, except for the BSV part, so again I don't think this is a compelling case for only BSV, in fact I already think it is on the back foot.
    3. Privacy. It's a controversial topic for sure, but the fact remains that people will sometimes for whatever reason want to be able to transact privately and for illicit reasons. BSV does not intend to cater for this, but there is a market for this regardless, and a number of chains that offer it to varying degrees.
    4. Smart contracts. Another big one which encompasses a lot of things from tokens to actual contracts to provably fair gaming and gambling. There is already a host of account based chains with far more advanced functionality and greater developer communities than BSV. The 10 minute block finality is also an issue here, as for many of the above you presumably will want finality to transactions. I know BSV is expanding the 'smart contract' capabilities but I do not see a unique or compelling case for it to suddenly dominate or even make an impact any time soon. Once again, I do not see any kind of unique selling point.
So all in all, there is a fierce discussion aside from CSW about whether BSV is superior and can survive and thrive. I am obviously of the belief that the 'one chain or none' approach will not be the case, but I would be curious to here why people on both sides of the fence agree or disagree on the various points, and whether there will be one chain to rule them all..!
submitted by Martin1209 to bitcoinfights [link] [comments]

Why I am supporting Bitcoin Cash

First, I want to say that I believe that Bitcoin (BTC) will moon and that lambo will rain, for several reasons that I won’t explain here and now. So please don't shit on me or down vote this post without explaining yourself properly. I'm saying this because the crypto community is full of young and emotional person insulting each other all the time without being able to explain their view clearly. I’m just sharing my story and my opinion, if I say something wrong, please let me know. No need to be emotional.
My story: I’m French (Forgive my English), a software engineer, working from home, previously in the banking industry, big noob in blockchain code related. I have been supporting bitcoin for a couple of times now, unfortunately I discovered it a bit late, promoting it to people around me as the peer to peer cash system and hoping that it will give us our financial freedom.
During this bear market and after losing a big part of my coins, I finally took the time to get a better understanding of each coin I’m holding and I quickly realised that Bitcoin Cash wasn’t a scam, that Bitcoin BTC is purely a speculative asset, the playground of professional traders, used to rekt noobs and that Lightning network will end as custodial wallets because no one will take the time/risk for opening/closing/securing a channel, especially poor people (few billions). There is no benefit for the average user in maintaining a LN node. I believe it will be more interesting to mine Bitcoin rather than maintaining a LN node.
So basically, I lost faith in the promise made by the Lightning Network which made me focusing on why Bitcoin Cash is the answer to a decentralized peer-to peer electronic cash system. I can confess that in the past I used to believe that second layer solution was the solution for everything, but I changed my mind.
To make it simple, BCH allows to make instant payment for very cheap whereas BTC can’t and won’t.

For each crypto project, I look at those different points:
1. Length of the chain
BTC and BCH are sharing the longest chain, it has been working well without any issues since now 10 years. No other project has such a good track record. This make me feel confident that the chance that this will continue to work as well for years or decades.

2. Community behind it
A good community for me is when you see technical people, risking their reputation/identity by posting videos, writing stuff and talking in public events about the project they support. Based on that, I believe the BCH community is the biggest of all. By technical people I mean someone talking using technical approach to back their opinion rather than beliefs based on emotions. Usually in the crypto space, those people are developers but it’s not always the case.
I made a small list of technical people supporting BCH:
-Peter R. Rizun: Chief Scientist, Bitcoin Unlimited.
-Vitalik Butterin (he often showed his support regarding BCH but didn’t produce any content)
-Jonald Fyookball: Electron Cash Developer
-Jonathan Toomim: Bitcoin cash developer who made interesting proof regarding scaling onchain)
-George Hotz: no need to present this awesome crazy dude!
-Amaury Séchet: Bitcoin Cash Developer and French! 😊
-Rick Falkvinge: Founder of the swedish pirate party, watch his youtube channel.
-Gabriel Cardona (Bitcoin cash developer)
-Justin Bons : Founder & CIO of Cyber Capital
-Dr. Mark B. Lundeberg: Developer researcher
And there is a lot more, but those people are people that I personally trust for their work they shared and that I like following.
Recently we had the Bitcoin cash city conference, another event full of people supporting BCH, that kind of thing doesn’t happen with other crypto. So many brilliant people supporting BCH, how could it be possible that all those guys are supporting a scam or a shitcoin. As well, there is often meetups and conferences all over the world.
The developer community is not centralized, there is multiple teams (BitcoinABC, Bitcoin Unlimited, BCHD, Bcash, Bitcoin Verde…) independent of each other arguing sometimes about technical and political stuff, this ensure that developments and important decisions are not centralized. I find this very healthy. If a fork occurs, it’s not a problem, it will simply double your coin and allows two different ways of thinking to grow and compete. This won’t happen in Bitcoin (BTC) anymore, the way of thinking is centralized for BTC, they all share the same view: the segwit workaround + small block + layer 2 = (moon + lambo) in 18 months.
Regarding CSW, I don’t believe in this guy for now but maybe I’m wrong, maybe this guy is wrongly understood but based on all the things I know about him, he seems too complicated to be someone honest. Honesty comes with simplicity.
Finally, regarding Roger Ver: He is hated a lot and I still don't understand why, I feel sorry for him, I really tried my best to hate him like the crowd, but I couldn’t find any reasons. Many people are saying that he is lying and scamming people but none of them are technically able to explain why. It's really a crazy story and I understand why some people call him "Bitcoin Jesus". I personally think he is doing a great job and I thank him.

3. The current and future adoption
BCH is used by reel people and reel shops (check the bitcoin cash map), there are transactions on the network to buy and sell real things that exist in the real world. Can you believe this? Maybe the only blockchain having that. Please let me know if you know another blockchain which is today serving the real world.
The Bitcoin cash wallet app is easy and exciting to use. Same for the app for merchant. This can be used by my old mum! The BCH roadmap shows that more features will be added to simplify and enhance the user experience. I can’t find other blockchain having that level of user friendliness.
Recently Roger Ver announced HTC mobile phone with a BCH wallet preinstalled. I read as well that Burger King is accepting BCH, but I haven’t verified if this was legit or not.

4. Existing features and roadmap
-Multiple wallets built on all platform.
-Bitcoin Cash point of sales: this app is the app that merchant should use to accept Bitcoin, as well very easy to use and takes 5min to install.
-Cash shuffle with Cash fusion allowing to transact anonymously, making BCH competing with privacy focused coins such like Zcash, Monero, Dash. I heard this function will be implemented as well on mobile devices.
-SLP token: The simplicity of creating a token and sending dividends make BCH a bit competing with all smart blockchain. Anyone can create a token, raise funds and send dividends easily and it works! Will Bitcoin Cash evolve to a smart economy?
-memo.cash: A social network stored on the blockchain, fixing the problem of censorship we have on reddit for example. I recently discovered it, it’s awesome to know that you can write whatever you want, and nobody will be able to delete it and this forever. It’s really an awesome experience. I invite you to test it. For example, yesterday I had fun creating, sending token and being tipped in BCH or in any token by random people, it really shows the potential of BCH. I think I made around 50 on chain transactions in less than one hour with less than 10 cents.
-Stable coins: We can build stable coin on BCH; this is something very important as well.
Regarding the roadmap: It’s well described on bitcoincash.org and looks promising, but no update since the last 5 months. Not sure if it’s normal.

5. Security
SHA256 based algorithm are I believe the most secure, I don’t think we need to add more regarding this. Maybe someone can help me to find some downside regarding security, often some people talk about the potential 51% attack that could occurs on BCH but I couldn’t manage to have my own opinion regarding this.
Regarding the double spending attack because of the zero confirmation, I have asked many people to explain to me how this could potentially be a problem for a real merchant. I think that small and insignificant amount doesn’t need instant confirmation but if you sell a lambo then of course you should wait for at least 5 confirmations.
To summarize I would even consider that zero conf is more advantageous than Lightning Network if you take everything into consideration. Worth case scenario if your restaurant is victim of a double spending attack a few times, you will just increase the confirmation level and prevent your customer from living your place. I think that it’s easier to print fake fiat money and try to pay with it rather than trying a double spending attack. But again, I might have misunderstood something or maybe there is more sophisticated exploits that I haven’t thought of.

6. Price
21 million coins, no inflation, the price currently around 300usd, a boiling community. The potential gains could be as good as BTC and even more. Maybe it’s the so waited coin that you will never convert back to that shit fiat. Certainly, one of the best coins to invest in now.

7. Electricity and efficiency
Since the cost of electricity is the same whatever the size of the block, it means that BCH is more environment friendly than BTC for the same amount of transaction or we can say that it’s "wasting" less energy. Maybe if LN works one day this will change.

My Conclusion:
Bitcoin is technically the worst coin; all others existing coins are better technically. But Bitcoin survives because of the network effect, illustrated by its biggest hash rate, making BTC the most secure blockchain. As well because of promises made by the Lightning Network. Bitcoin is the gold of crypto currencies. Bitcoin like Gold have both almost no utility. In a traditional market, gold drop when economy goes well and goes up when investors need to find a refuge. BTC is the drop zone for fresh meat.
Most of the BTC holders cannot think clearly regarding the BTC/BCH debate, they become completely irrational. This kind of behaviour leads to ruin, especially in trading/investment.With low fees, instant transaction, smart contracts, big community, user friendly apps, stable coin and a lot more to come, Bitcoin Cash has clearly a good future. I hope that someone will find my post useful. Cheers.
submitted by talu3000 to btc [link] [comments]

Solve the "storage, mining pool and exchange centralization", and only generate 1G data every year(only pc-miner)

The blockheader has two segments with a total length of 64 bit0 (of which blocktime is 64 bits), which strongly prevents the collapse effect of the sha256 operation in the ASIC miner, so that the mining difficulty will not increase indefinitely. The centralization for the high hashrate of the mining pool is strongly restricted. Census and prune the transactions (at most 4 outputs per transaction) whose all outputs are spent,in the block below 1300 depth in batches(i.e. clear up the input and output at the same time, and only keep the version of all-outs-spent transaction on the disk,--not serialize vin and vout). 250 for each batch, 20 block files(one file per block) will be reconstructed for each block received from other nodes, that is to say, 5000 transactions will be pruned at a time. And special mechanism is used to make the synchronization of data from malicious nodes error free. Only 1G data is increased every year. The data it running for 1000 years will be no more than 1T. Block size is 2M, and only 1g data is increased every year without SPV, which strongly prevents the storage of a large number of block data reducing the number of nodes. At the same time, 'four outputs per tx' limit the settlement of the mining pool, and strongly prevent the centralization of the mining pool. For example, the settlement is sent to 4000 miners, which requires 1000 transactions. All currencies are locked in the maturity of 300 blocks (the input can only be used as prevout after 300 blocks), which strongly prevents the frequency of trading speculation, the crash from the online exchange, and prevent the centralization of the biggest online exchange in the world.
This has achieved "absolute decentralization".
At present, the tip height is only 600, and there is no pre-mined. The RPC is stable and reliable same as bitcoin 0.10.2. No segwit but P2SH, a little change based on 0.10.2. Usage: $ /download-directory/bitcoind -addnode =47.114.58.108 (same for Ubuntu) with bitcoin.conf configuration file
Detailed introduction,original text is as follows: github-holyangel250-bitsupercoin
submitted by DangerousDetail8 to BitcoinMining [link] [comments]

Bitcoin JSON-RPC Tutorial 3 - bitcoin.conf - YouTube Bitcoin Mining Complete Guide & Tutorial (EASIEST METHOD ... JSON RPC Calls with Bitcoin qt (4 of 6) Mining Worldcoin with Multiminer Bitcoin JSON-RPC Tutorial 1

Basic parameters regarding Bitcoin Core node operation. Alert Notification Execute command when an alert (or long fork) is received (%s in cmd is replaced by message) Block Filter Index Disable compact filters. Disable; Enable All; Basic Filters ; Block Notification Execute command when the best block changes (%s in cmd is replaced by block hash) Block Data Storage Location Specify a non ... Many of the boolean options can also be set to off by specifying them with a "no" prefix: e.g. -nodnseed. Bitcoin.conf Configuration File []. All command-line options (except for -conf) may be specified in a configuration file, and all configuration file options may also be specified on the command line. ## bitcoin.conf configuration file. Lines beginning with # are comments. ## # Network-related settings: # Note that if you use testnet or regtest, particularly with the options # addnode, connect, port, bind, rpcport, rpcbind or wallet, you will also # want to read "[Sections]" further down. # Run on the test network instead of the real bitcoin network. #testnet=0 # Run a regression test ... Bitcoind – a daemon program that implements the Bitcoin protocol, is controlled through the command line. It is one of the main components of the Bitcoin network node software. Bitcoin software exists in two forms: a GUI application and a background application (daemon on Unix, service on Windows). Bitcoin.conf Configuration File. All command-line options (except for -conf) may be specified in a configuration file, and all configuration file options may also be specified on the command line. Command-line options override values set in the configuration file. The configuration file is a list of setting=value pairs, one per line, with optional comments starting with the '#' character. The ...

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Bitcoin JSON-RPC Tutorial 3 - bitcoin.conf - YouTube

Bitcoin JSON-RPC tutorial. How to set up bitcoind on a VPS. BTC: 1NPrfWgJfkANmd1jt88A141PjhiarT8d9U We cover chapter 3 of Andreas Antonopoulos' book Mastering Bitcoin. Featured are examples of bitcoin-cli commands, and simple Python scripts to interact with the bitcoin blockchain. Referenced links: JSON RPC Calls with Bitcoin qt (4 of 6) ... How to run Bitcoin-qt as a server with a configuration file (3 of 6) - Duration: 5:48. Lars Holdgaard 10,982 views. 5:48. Communicate with Bitcoin-qt ... *ATTENTION* Nicehash has updated their program and the UI is very different from this video. I made an updated video so you can all follow along. Here is the... An introduction to the Bitcoin JSON-RPC tutorial series. BTC: 1NPrfWgJfkANmd1jt88A141PjhiarT8d9U

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