Flatten the Curve. #18. The current cold war between China and America explained. And how China was behind the 2008 Wall Street financial Crash. World War 3 is coming.
China, the USA, and the Afghanistan war are linked. And in order to get here, we will start there. 9-11 happened. Most of the planet mistakenly understood terrorists had struck a blow against Freedom and Capitalism and Democracy. It was time to invade Afghanistan. Yet all of the terrorists were linked to Saudi Arabia and not Afghanistan, that didn't make sense either. Yet they invaded to find Bin Laden, an ex CIA asset against the Soviet Union and it's subjugation of Afghanistan. The land in the middle of nowhere in relation to North America and the West. It was barren. A backwater without any strategic importance or natural resources. Or was there? The survey for rare earth elements was only made possible by the 2001 U.S. invasion, with work beginning in 2004. Mirzad says the Russians had already done significant surveying work during their military occupation of the country in the 1980s. Mirzad also toes the line for U.S. corporations, arguing, “The Afghan government should not touch the mining business. We have to give enough information to potential investors.” Rare Earth Elements. The elements that make the information age possible. People could understand the First Gulf War and the Geopolitical importance of oil. That was easy, but it still didn't sound morally just to have a war for oil. It was too imperialist and so they fell in line and supported a war for Kuwaiti freedom instead, despite the obvious and public manipulation at the UN by Nayirah. This is some of her testimony to the Human Rights Council. While I was there, I saw the Iraqi soldiers come into the hospital with guns. They took the babies out of the incubators, took the incubators and left the children to die on the cold floor. It was horrifying. I could not help but think of my nephew who was born premature and might have died that day as well. After I left the hospital, some of my friends and I distributed flyers condemning the Iraqi invasion until we were warned we might be killed if the Iraqis saw us. The Iraqis have destroyed everything in Kuwait. They stripped the supermarkets of food, the pharmacies of medicine, the factories of medical supplies, ransacked their houses and tortured neighbors and friends. There was only one problem. She was the daughter of Saud Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign, which was run by the American public relations firm Hill & Knowlton for the Kuwaiti government (fun fact, Hill & Knowlton also have extensive ties with Bill Gates). So the public was aghast at her testimony and supported the war against the mainly Soviet backed, but also American supported and Soviet backed Saddam Hussein, in his war against Iran, after the Iranians refused to Ally with American interests after the Islamic Revolution. But that was oil, this was Rare Earth Elements. There was a reason the war was called, Operation Enduring Freedom. This natural resource was far more important in the long run. You couldn't have a security surveillance apparatus without it. And what was supposed to be a war on terror was in actuality a territorial occupation for resources. Sleeping Dragon China is next, and where there's smoke, there's fire. Let's go point form for clarity. • China entered the rare earth market in the mid-1980s, at a time when the US was the major producer. But China soon caught up and became the production leader for rare earths. Its heavily state-supported strategy was aimed at dominating the global rare earth industry. • 1989 Beijing’s Tiananmen Square spring. The U.S. government suspends military sales to Beijing and freezes relations. • 1997. Clinton secures the release of Wei and Tiananmen Square protester Wang Dan. Beijing deports both dissidents to the United States. (If you don't understand these two were CIA assets working in China, you need to accept that not everything will be published. America wouldn't care about two political activists, but why would care about two intelligence operatives). • March 1996. Taiwan’s First Free Presidential Vote. • May 1999. America "accidently" bombs the Belgrade Chinese Embassy. • 2002 Price competitiveness was hard for the USA to achieve due to low to non-existent Chinese environmental standards; as a result, the US finally stopped its rare earth production. • October 2000. U.S. President Bill Clinton signs the U.S.-China Relations Act. China's take over of the market share in rare earth elements starts to increase. • October 2001. Afghanistan war Enduring Freedom started to secure rare earth elements (Haven't you ever wondered how they could mobilize and invade so quickly? The military was already prepared). • 2005. China establishes a monopoly on global production by keeping mineral prices low and then panics markets by introducing export quotas to raise prices by limiting supply. • Rare Earth Elements. Prices go into the stratosphere (for example, dysprosium prices do a bitcoin, rocketing from $118/kg to $2,262/kg between 2008 and 2011). • In a September 2005. Deputy Secretary of State Robert B. Zoellick initiates a strategic dialogue with China. This was presented as dialog to acknowledge China's emergence as a Superpower (which China probably insisted on), but it was about rare earth elements market price. • October 2006. China allows North Korea to conduct its first nuclear test, China serves as a mediator to bring Pyongyang back to the negotiating table with the USA. • September 2006. American housing prices start to fall. (At some point after this, secret negotiations must have become increasingly hostile). • March 2007. China Increases Military Spending. U.S. Vice President Dick Cheney says China’s military buildup is “not consistent” with the country’s stated goal of a “peaceful rise.” • Mid-2005 and mid-2006. China bought between $100b and $250 billion of US housing debt between mid-2005 and mid-2006. This debt was bought using the same financial instruments that caused the financial collapse. • 2006. Housing prices started to fall for the first time in decades. • Mid-2006 and mid-2007. China likely added another $390b to its reserves. "At the same time, if China stopped buying -- especially now, when the private market is clogged up -- US financial markets would really seize up." Council on Foreign Relations-2007 August • February 27, 2007. Stock markets in China and the U.S. fell by the most since 2003. Investors leave the money market and flock to Government backed Treasury Bills. I've never seen it like this before,'' said Jim Galluzzo, who began trading short-maturity Treasuries 20 years ago and now trades bills at RBS Greenwich Capital in Greenwich, Connecticut.Bills right now are trading like dot-coms.'' We had clients asking to be pulled out of money market funds and wanting to get into Treasuries,'' said Henley Smith, fixed-income manager in New York at Castleton Partners, which oversees about $150 million in bonds.People are buying T-bills because you know exactly what's in it.'' • February 13, 2008. The Economic Stimulus Act of 2008 was enacted, which included a tax rebate. The total cost of this bill was projected at $152 billion for 2008. A December 2009 study found that only about one-third of the tax rebate was spent, providing only a modest amount of stimulus. • September 2008. China Becomes Largest U.S. Foreign Creditor at 600 billion dollars. • 2010. China’s market power peaked in when it reached a market share of around 97% of all rare earth mineral production. Outside of China, there were almost no other producers left. Outside of China, the US is the second largest consumer of rare earths in the world behind Japan. About 60% of US rare earth imports are used as catalysts for petroleum refining, making it the country’s major consumer of rare earths. The US military also depends on rare earths. Many of the most advanced US weapon systems, including smart bombs, unmanned drones, cruise missiles, laser targeting, radar systems and the Joint Strike Fighter programme rely on rare earths. Against this background, the US Department of Defense (DoD) stated that “reliable access to the necessary material is a bedrock requirement for DOD” • 2010. A trade dispute arose when the Chinese government reduced its export quotas by 40% in 2010, sending the rare earths prices in the markets outside China soaring. The government argued that the quotas were necessary to protect the environment. • August 2010. China Becomes World’s Second-Largest Economy. • November 2011. U.S. Secretary of State Hillary Clinton outlines a U.S. “pivot” to Asia. Clinton’s call for “increased investment—diplomatic, economic, strategic, and otherwise—in the Asia-Pacific region” is seen as a move to counter China’s growing clout. • December 2011. U.S. President Barack Obama announces the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership later announces plans to deploy 2,500 marines in Australia, prompting criticism from Beijing. • November 2012. China’s New Leadership. Xi Jinping replaces Hu Jintao as president, Communist Party general secretary, and chairman of the Central Military Commission. Xi delivers a series of speeches on the “rejuvenation” of China. • June 2013. U.S. President Barack Obama hosts Chinese President Xi Jinping for a “shirt-sleeves summit” • May 19, 2014. A U.S. court indicts five Chinese hackers, allegedly with ties to China’s People’s Liberation Army, on charges of stealing trade technology from U.S. companies. • November 12, 2014. Joint Climate Announcement. Barack Obama and Chinese President Xi Jinping issue a joint statement on climate change, pledging to reduce carbon emissions. (which very conveniently allows the quotas to fall and save pride for Xi). • 2015. China drops the export quotas because in 2014, the WTO ruled against China. • May 30, 2015 U.S. Warns China Over South China Sea. (China is trying to expand it's buffer zone to build a defense for the coming war). • January 2016. The government to abolish the one-child policy, now allowing all families to have two children. • February 9, 2017. Trump Affirms One China Policy After Raising Doubts. • April 6 – 7, 2017. Trump Hosts Xi at Mar-a-Lago. Beijing and Washington to expand trade of products and services like beef, poultry, and electronic payments, though the countries do not address more contentious trade issues including aluminum, car parts, and steel. • November 2017. President Xi meets with President Trump in another high profile summit. • March 22, 2018. Trump Tariffs Target China. The White House alleges Chinese theft of U.S. technology and intellectual property. Coming on the heels of tariffs on steel and aluminum imports, the measures target goods including clothing, shoes, and electronics and restrict some Chinese investment in the United States. • July 6, 2018 U.S.-China Trade War Escalates. • September 2018. Modifications led to the exclusion of rare earths from the final list of products and they consequently were not subject to import tariffs imposed by the US government in September 2018. • October 4, 2018. Pence Speech Signals Hard-Line Approach. He condemns what he calls growing Chinese military aggression, especially in the South China Sea, criticizes increased censorship and religious persecution by the Chinese government, and accuses China of stealing American intellectual property and interfering in U.S. elections. • December 1, 2018. Canada Arrests Huawei Executive. • March 6, 2019. Huawei Sues the United States. • March 27 2019. India and the US signed an agreement to "strengthen bilateral security and civil nuclear cooperation" including the construction of six American nuclear reactors in India • May 10, 2019. Trade War Intensifies. • August 5, 2019. U.S. Labels China a Currency Manipulator. • November 27, 2019. Trump Signs Bill Supporting Hong Kong Protesters. Chinese officials condemn the move, impose sanctions on several U.S.-based organizations, and suspend U.S. warship visits to Hong Kong. • January 15, 2020. ‘Phase One’ Trade Deal Signed. But the agreement maintains most tariffs and does not mention the Chinese government’s extensive subsidies. Days before the signing, the United States dropped its designation of China as a currency manipulator. • January 31, 2020. Tensions Soar Amid Coronavirus Pandemic. • March 18, 2020. China Expels American Journalists. The Chinese government announces it will expel at least thirteen journalists from three U.S. newspapers—the New York Times, Wall Street Journal, and Washington Post—whose press credentials are set to expire in 2020. Beijing also demands that those outlets, as well as TIME and Voice of America, share information with the government about their operations in China. The Chinese Foreign Ministry says the moves are in response to the U.S. government’s decision earlier in the year to limit the number of Chinese journalists from five state-run media outlets in the United States to 100, down from 160, and designate those outlets as foreign missions. And here we are. You may have noticed the Rare Earth Elements and the inclusion of Environmental Standards. Yes these are key to understanding the Geopolitical reality and importance of these events. There's a reason the one child policy stopped. Troop additions. I believe our current political reality started at Tiananmen square. The protests were an American sponsored attempt at regime change after the failure to convince them to leave totalitarian communism and join a greater political framework. Do I have proof? Yes. China, as far as I'm concerned, was responsible for the 2008 economic crisis. The Rare Earth Elements were an attempt to weaken the States and strengthen themselves simultaneously. This stranglehold either forced America to trade with China, or the trade was an American Trojan horse to eventually collapse their economy and cause a revolution after Tiananmen Square failed. Does my second proposal sound far fetched? Didn't the economy just shut down in response to the epidemic? Aren't both sides blaming the other? At this POINT, the epidemic seems to be overstated doesn’t it? Don't the casualties tend to the elder demographic and those already weakened by a primary disease? Exactly the kinds who wouldn't fight in a war. Does this change some of my views on the possibility of upcoming catastrophes and reasons for certain events? No. This is Chess, and there are obvious moves in chess, hidden moves in chess, but the best moves involve peices which can be utilized in different ways if the board calls for it. Is all what it seems? No. I definitely changed a few previously held beliefs prior to today, and I would caution you in advance that you will find some previously held convictions challenged. After uncovering what I did today, I would also strongly suggest reading information cautiously. This is all merely a culmination of ending the cold war, and once I have events laid out, you will see it as well. At this moment, the end analysis is a war will start in the near future. This will be mainly for a few reasons, preemptive resource control for water and crops, population reduction can be achieved since we have too many people, not enough jobs, and upcoming resource scarcity. Did you notice my omission of rare earth elements? This is because of Afghanistan. I would wager China or Russia is somehow supporting the continued resistance through Iran. But events are now accelerating with China because the western collation has already begun to build up their mines and start production. Do you remember when Trump made a "joke" about buying Greenland? Yeah. It turns out that Greenland has one of the largest rare earth mineral deposits on the planet. Take care. Be safe. Stay aware and be prepared. This message not brought to you by the Bill and Melinda Gates Foundation, Microsoft, Google, Facebook, Elon Musk, Blackrock, Vangaurd, the Rockefeller Foundation, Rand Corporation, DARPA, Rothschilds, Agenda 21, Agenda 30, and ID 2020.
I've seen other discussions of the search query "bitcoin" on Google Trends before, but have not seen as much about more specific queries such as "what is bitcoin" or "how to get bitcoin" that might provide more insights. I've also seen financial stock analysts study Google Trends data for queries such as "[company X's product] login" to get a sense of whether a company will report betteworse earnings or user growth than a prior year or quarter. I figured a similar approach to Bitcoin could bring further insights. Over the past several months I've tracked queries like "what is bitcoin" and "how to get bitcoin". "what is bitcoin" has experienced significant growth in recent weeks pointing to significant new user interest. On May 31 it was up 61% compared to the week prior and today's data showed it was up 98% compared to the week prior. Weekly spikes are only reported if you subscribe to a query through Google trends. Link to "what is bitcoin": http://www.google.com/trends/explore#q=what%20is%20bitcoin Link to "how to get bitcoin": http://www.google.com/trends/explore#q=how%20to%20get%20bitcoin Year over year the "what is bitcoin" index goes from 11 in June 2013 to 32 for June 2014 (+190%). The index's 100 is still December 2013, so we are not close to that. These trends probably comes as no surprise to this community, but it's always interesting to see data supporting what we expect of increased user adoption. Interestingly, "bitcoin security" queries spike after people have already learned about or acquired some bitcoin. Let's help bring this into the discussion earlier for new users: http://www.google.com/trends/explore#q=bitcoin%20security Are there other more specific or insightful queries anybody is watching?
[FULL ANALYSIS] Bitcoin exchanges and payment processors in Canada are now regulated as Money Service Businesses
Hello Bitcoiners! Many of you saw my tweet yesterday about the Bitcoin regulations in Canada. As usual, some journalists decided to write articles about my tweets without asking me for the full context :P Which means there has been a lot of misunderstanding. Particuarly, these regulations mean that we can lower the KYC requirements and no longer require ID documents or bank account connections! We can also increase the daily transaction limit from $3,000 per day to $10,000 per day for unverified accounts. The main difference is that we now have a $1,000 per-transaction limit (instead of per day) and we must report suspicious transactions. It's important to read about our reporting requirements, as it is the main difference since pretty much every exchange was doing KYC anyway. Hopefully you appreciate the transparency, and I'm available for questions! Cheers, Francis ********************************************* Text below is copied from: https://medium.com/bull-bitcoin/bitcoin-exchanges-and-payment-processors-in-canada-are-now-regulated-as-money-service-businesses-1ca820575511
Bitcoin is money, regulated like money
Notice to Canadian Bitcoin users
If you are the user of a Canadian Bitcoin company, be assured that:
These regulations only target virtual currency exchanges and virtual currency transmitters (e.g. payment processors, custodial wallets).
No action on your part is currently required. It is businesses that have to comply, not users.
You may notice that the exchange service you are using has change its transactions limits or is now requiring more information from you. You can stop reading this email now without any consequence! Otherwise, keep regarding if you are interested in my unique insights into this important topic!
Background on regulation
Today marks an important chapter for Bitcoin’s history in Canada: Bitcoin is officially regulated as money (virtual currency) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada (PCMLTFA), under the jurisdiction of the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC). This is the culmination of 5 years of effort by numerous Bitcoin Canadian advocates collaborating with the Ministry of Finance, Fintrac and other Canadian government agencies. It is important to note that there is no new Bitcoin law in Canada. In June of 2014, the Governor General of Canada (representing Her Majesty Queen Elizabeth II) gave royal asset to Bill C-31, voted by parliament under Stephen Harper’s Conservative government, which included amendments to the PCMLTFA to included Bitcoin companies (named “dealers in virtual currency”) as a category of Money Service Businesses. Thereafter, FINTRAC engaged in the process of defining what exactly is meant by “dealing in virtual currency” and what particular rules would apply to the businesses in this category. Much of our work was centred around excluding things like non-custodial wallets, nodes, mining and other activities that were not related exchange or payments processing. To give an idea, the other categories that apply to traditional fiat currency businesses are:
Foreign exchange dealing
Remitting or transmitting funds
Issuing or deeming money order or similar negotiable instruments
When we say that Bitcoin is now regulated, what we mean is that these questions have been settled, officially published, and that they are now legally binding. Businesses that are deemed to be “dealing in virtual currency” must register with FINTRAC as a money service business, just like they would if they were doing traditional currency exchange or payment processing. There is no “license” required, which means that you do not need the government’s approval before you can operate a Bitcoin exchange business. However, when you operate a Money Service Business, you must register and comply with the laws… otherwise you risk jail time and large fines.
What activities are regulated as Money Service Business activity?
A virtual currency exchange transaction is defined as: “an exchange, at the request of another person or entity, of virtual currency for funds, funds for virtual currency or one virtual currency for another.” This includes, but is not limited to:
Bitcoin trading platforms (orderbooks)
Bitcoin exchange platforms (fixed-rate)
Selling or buying Bitcoin OTC professionally
Crypto-to-crypto trading (orderbook, fixed-rate or OTC)
Notice to foreign Bitcoin companies with clients in Canada
Regardless of whether or not your business is based in Canada, you must register with FINTRAC as a Foreign Money Service Business, if:
You direct your MSB services at persons or entities in Canada
The regulation of Bitcoin exchange and payment services has always been inevitable. If we want Bitcoin to be considered as money, we must accept that it will be regulated like other monies. Our stance on the regulation issue has always been that Bitcoin exchanges and payment processors should be regulated like fiat currency exchanges and payment processors, no more, no less. This is the outcome we obtained. To comply with these regulations, we are implementing a few changes to our Know-Your-Customer requirement and transaction limits which may paradoxically make your experience using Bull Bitcoin and Bylls even more private and convenient!
The bad news
We are adding per-transaction limits in addition to daily volume limits.
The per-transaction limit for accounts with limited verification is $1,000 (previously $3000). To conduct transactions over $1,000 you must get your account verified.
We require users to provide their Date of Birth as a requirement to change their verification status to “Verified”.
We require users to provide their Occupation as a requirement to change their verification status to “Verified”.
The good news
We are increasing the daily volume limit from $3,000 to $10,000 for users that have the “limited” account verification status. Users with limited account verification can do multiple transactions as long as they are each below the $1,000 threshold and as long as they don’t exhibit suspicious behavior (see details below).
Identity documents will no longer be required for users that can be identified using their credit files. They will only be required where identification using credit file lookup was inconclusive. This change will take effect later this summer.
Connecting bank accounts to Bull Bitcoin using the flinks bank verification software will no longer be required for users that can be identified using their credit files. This will only be required where identification using credit file lookup was inconclusive. This change will take effect later this summer
The user’s KYC info (name, address, date of birth and occupation)
Suspicious transaction reporting
Satoshi Portal is required to make suspicious transactions report to FINTRAC after we have detected a fact that amounts to reasonable grounds to suspect that one of your transactions is related to the commission or attempted commission of a money laundering offence or a terrorist activity financing offence. Failure by Satoshi Portal Inc. to report a suspicious transaction could lead to up to five years imprisonment, a fine of up to $2,000,000, or both, for its executives. We are not allowed to share with anyone other than FINTRAC, including our clients, the contents of a suspicious transaction report as well as the fact that a suspicious transaction report has been filed.
What is suspicious activity?
Note forbitcoinca: this section applies ONLY to Bull Bitcoin. Most exchanges have much stricter interpretation of what is suspicious. You should operate under the assumption that using Coinjoin or TOR will get you flagged at some other exchanges even though it's okay for Bull Bitcoin. That is simply because we have a more sophisticated understanding of privacy best practices. Identifying suspicious behavior is heavily dependent on the context of each transaction. We understand and take into account that for many of our customers, privacy and libertarian beliefs are of the utmost importance, and that some users may not know that the behavior they are engaging in is suspicious. When we are concerned or confused about the behaviors of our users, we endeavour to discuss it with them before jumping to conclusions. In general, here are a few tips:
Don’t provide false of misleading information. We will know right away if your date of birth, address and name don’t match.
Don’t try to exploit loopholes in the KYC process.
Don’t transact on behalf of someone else without telling us.
Be cooperative with customer support.
Here are some examples of behavior that we do not consider suspicious:
Coinjoin or other Bitcoin privacy techniques.
Using VPNs, TOR or VOIP phones.
Asking questions about, or criticizing, our privacy policies.
Talking negatively about banks or government.
Here are some example indicators of behavior that would lead us to investigate whether or not a transaction is suspicious:
Making statements about being involved with criminal activity.
Saying you don’t want the government to know about your transactions.
Asking advice about concealing source of funds or tax avoidance.
Funding your account from a bank account that is not in your name.
Conducting transactions on behalf of someone else without telling us.
Trying to falsify your identity or impersonating someone else.
Making multiple bill payments to the same recipient, or multiple Bitcoin purchases, in a way which seems structured specifically to avoid the $1,000 transaction amount KYC threshold.
Continuing to perform transactions that are unnecessarily complex, inefficient and not cost-effective after having been advised otherwise by our staff.
What does this mean for Bitcoin?
It was always standard practice for Bitcoin companies to operate under the assumption they would eventually be regulated and adopt policies and procedures as if they were already regulated. The same practices used for legal KYC were already commonplace to mitigate fraud (chargebacks). In addition, law enforcement and other government agencies in Canada were already issuing subpoenas and information requests to Bitcoin companies to obtain the information of users that were under investigation. We suspect that cash-based Bitcoin exchanges, whether Bitcoin ATMs, physical Bitcoin exchanges or Peer-to-Peer trading, will be the most affected since they will no longer be able to operate without KYC and the absence of KYC was the primary feature that allowed them to justify charging such high fees and exchange rate premiums. One thing is certain, as of today, there is no ambiguity whatsoever that Bitcoin is 100% legal and regulated in Canada!
Hello, I'm Katie Martin. As you may have read online, I'm the founder and chief investment officer at Vomiting Camel Asset Management, except I'm not. This whole thing has got out of hand. The vomiting camel - A vomiting camel - The vomiting camel. This is how the vomiting camel works. Vomiting camel formation - In the interest of fighting the scourge of fake news, the FT needs to put the record straight. This tale starts with technical analysis, a very serious discipline for very serious people in financial markets, that involves looking at charts, drawing lines on the charts, spotting patterns in the charts, and deciding the patterns mean that the market is heading either up or down. Ah, a head and shoulders pattern, bearish. A death cross, super bearish. And itchy marcu cloud - well, the market must be range bound. A cup and handle formation, now that's bullish. I'm not even joking. So a few years ago I started drawing vomiting camels onto charts - they're bearish, you know - and tweeting them out, just for fun. It's just a joke. To my genuine surprise, some people seem to have taken this a little too seriously. In 2014, CNBC pointed out that a vomiting camel formation had appeared in gold. The camel will then go off the cliff into the splat zone. Now, bitcoin enthusiasts have picked up on that report and they're describing me online as the head of Vomiting Camel Asset Management. They're even teaching people to spot the pattern for themselves. Your first hump of the camel, right - now the second hump. Then it just starts throwing up. The serious lesson here is to take pretty patterns drawing on charts with a bit of a pinch of salt. Personally, I'm wondering how to put the vomit back in the camel. I fear it may be too late.
Semi-Newbie Looking For Advice On Buying In Recent Climate
I'm semi-new to Bitcoin. I was gifted some back in 2014/15 by a family member who works with blockchain technologies. I didn't ask much about it then, just trusted them. Due to lots of free time recently (covid), I was able to properly research Bitcoin and cryptocurrencies. I've been watching the price dip recently and can't exactly figure out why it's happening, but I do know I'm interested in buying more and figured this would be the opportune time. But then I saw posts suggesting it could drop as low as 7500, which sounds like it would be even smarter to wait until then to buy. Basically, I'm catching myself exhibiting paralysis through analysis. How do you navigate buying (or selling) at a time like this. Is it better just to buy if you know you're going to, or carefully monitor until it's at a low. Any suggestions are appreciated. EDIT: You've all given very helpful answers, suggestions, etc. I keep thinking I've got a handle on things and then realize there's still a megaton of information to catch up with and learn. I have almost zero background in economics, stocks, finance, or even software so it's a bit overwhelming, but I still appreciate all your answers.
Cryptocurrency exchanges process over $20 billion in trade volume per day. Most of the transactions are going through centralized exchanges, where the users need to fully trust them for managing their assests and transactions. However, the risk of trusting these centralized exchanges has also been seen. For example, QuadrigaCX, which was the largest cryptocurrency exchange in Canada, lost $19 million of their customers' assets . Decentralized Exchanges (DEXes) have been introduced to address this problem -- they allow traders to purchase and sell cryptocurrencies in a peer-to-peer manner, so no involvement of any trusted party is required. Atomic Swap is one of the promising technology for implementing a DEX. While it enables pure peer to peer trading, it also introduces problems such as unfairness and long confirmation latency. While existing work  has provided a solution towards a fair atomic swap protocol, the issue of long confirmation latency is inherent. Another promising direction is leveraging liquidity pools. With liquidity pools, pairs of assets are reserved for trading. For any pair of assets supported by the liquidity pool, traders can exchange their assets without any third party. As traders can only perform the transactions if there are reserved assets, one core problem is how to attract liquidity providers to provide liquidity by reserving assets. It is not difficult to see that incentive [3,4], which has been a key component of all permissionless blockchains, can be equipped to incentivize liqudity providers. However, flawed incentive designs will lead to attacks and other concerns [5-13]. There are two main types of incentive designs, namely "trans-fee mining" and "liquidity mining". They are different from the Proof-of-X mining in blockchains for reaching consensus (a detailed analysis can be found in the survey ). Rather, they are used to incentivise users to join the ecosystem. "Trans-fee mining" was proposed by FCoin in 2018 . With FCoin, each time a transaction is created, 100% of its transaction fee will be returned in FCoin token to the payer as a reward. This is one incentive design to encourage traders to join the system. However, as FCoin may have no value to the trader, FCoin also introduces extra reward to all coin holders -- 80% of the transaction fee in its native currency (such as ETH) will be distributed to all coin holders. So, traders are incentivized to join the system, becoming a holder of FCoin token, and obtaining a share of the transaction fee of every transaction in the FCoin ecosystem. While this had successful attracted traders, it is not sustainable. Rather than charging a trader to perform transactions, FCoin rewards traders. Profit-driven traders will create transactions at full speed to earn FCoin token and the share as a token holder. Indeed, the trading volume of FCoin was the top one among all exchange services, and the daily reward can be as high as 6000 BTC . However, once all coins are minted, then the system would lose liveness as there is not enough supply to be distributed. "Liquidity mining" aims at giving reward to the liquidity providers rather than the traders. There are different ways to implement liquidity mining. Compound  is a famous example of protocols deploying liquidity mining. With Compound, users become a liquidity provider by supply assets to a pool and obtain interests for its contribution (similar to depositing money into a bank). Liquidity providers first reserve some assets in the pool and obtain "cToken" of Compound which entitles the owner to an increasing quantity of the underlying asset. Users can use their "cToken" to borrow different assets available on the Compound and pay some interests to Compund. The borrowers may have some quick gains through the financial games . Both borrowers and liquidity providers can withdraw their asset by trading them back with "cToken". Oners of "cToken" can also manage the business direction and decisions of Compound through weighted voting. The potential concern here is that rich users might be able to take over the control of the system. Uniswap  is another popular DEX deploying liquidity mining. Uniswap incentivizes liquidity providers by giving them a share of the earned transaction fees. In particular, Uniswap changes each transaction a 0.3% fee, where 0.25% will be distributed to the liquidity providers, and 0.05% will go to the Uniswap account. One issue is how to incentivize traders. With Uniswap, traders are incentivized by the potential profit it can gain through the price difference between Uniswap and other exchanges. Uniswap price oracle is based on a constant function market makers [20,21], where the product of the number of reserved tokens is a constant. For example, if Uniswap has a pair of X token A and Y token B, then when a user using X' token A to buy Y' token B, the product of the reserved number of tokens should remain the same, i.e., XY = (X+X')(Y-Y'). The price of Uniswap (V1) is also defined in this way. This allows traders to speculate in the exchange market as the asset price on Uniswap is changed dynamically and is different from other exchanges. This, on the other hand, may have a security risk as the price can be easily manipulated. Uniswap (V2) fixed this problem by taking an accumulated price over a period of time . However, as speculation/manipulation becomes harder, the trading volume may decrease. MiniSwap  introduces a hybrid model (a mixture of "trans-fee mining" and "liquidity mining") to address the above issues. MiniSwap provides three types of rewards. For each trade with transaction fee f ETH in MiniSwap, a number of MiniSwap tokens (called MINI) worth 2f ETH will be minted. A (parameterized) portion of the tokens are given to the trader, and the rest are distribued to the liqudity providers. The transaction fee (f ETH) is used to exchange MINI in the liquidity pool. 50% of the obtained MINI will be distributed to all MINI holders, and the other 50% will be destroyed. In this way, both traders and liquidity providers are incentivized to join the ecosystem. Recall that with FCoin, there is a problem when all coins are minted. MiniSwap has an upper bound (of 500,000 tokens) on the number of tokens can be created every day, and this limit reduces every month until a point where the limit (18,000 tokens) remains unchanged. This guarantees the sustainability of the system as the mining process can last for 100 years. The parameterized ratio of tokens as the reward to the trader and liquidity provider can also strengthen sustainability. It enables the system to dynamically balance the incentive of different parties in the system to make it more sustainable. Overall, the MiniSwap hybrid model has taken the benefit of both "trans-fee mining" model and "liquidity mining" model, while eliminated the potential concerns. Formally defining and analyzing these models, e.g. through the game-theoretic approach , would be an interesting direction. Reference  The Guardian, Cryptocurrency investors locked out of $190m after exchange founder dies, 2019.  Runchao Han, Haoyu Lin, Jiangshan Yu. On the optionality and fairness of Atomic Swaps, ACM Conference on Advances in Financial Technologies, 2019.  Satoshi Nakamoto. 2008. Bitcoin: a peer-to-peer electronic cash system  Jiangshan Yu, David Kozhaya, Jeremie Decouchant, and Paulo Verissimo. Repucoin: your reputation is your power. IEEE Transactions on Computers, 2019.  Joseph Bonneau. Why Buy When You Can Rent? - Bribery Attacks on Bitcoin-Style Consensus. Financial Cryptography and Data Security - International Workshops on BITCOIN, VOTING, and WAHC, 2016.  Yujin Kwon, Hyoungshick Kim, Jinwoo Shin, and Yongdae Kim. Bitcoin vs. Bitcoin Cash: Coexistence or Downfall of Bitcoin Cash, IEEE Symposium on Security and Privacy (SP), 2019.  Kevin Liao and Jonathan Katz. Incentivizing blockchain forks via whale transactions. International Conference on Financial Cryptography and Data Security, 2017.  Ayelet Sapirshtein, Yonatan Sompolinsky, and Aviv Zohar. Optimal Selfish Mining Strategies in Bitcoin. Financial Cryptography and Data Security, 2016.  Ittay Eyal and Emin Gün Sirer. Majority Is Not Enough: Bitcoin Mining Is Vulnerable. Financial Cryptography and Data Security, 2014.  Ittay Eyal. The Miner’s Dilemma. IEEE Symposium on Security and Privacy, 2015.  Miles Carlsten, Harry A. Kalodner, S. Matthew Weinberg, and Arvind Narayanan. On the Instability of Bitcoin Without the Block Reward. ACM SIGSAC Conference on Computer and Communications Security, 2016.  Kartik Nayak, Srijan Kumar, Andrew Miller, and Elaine Shi. Stubborn mining: generalizing selfish mining and combining with an eclipse attack. IEEE European Symposium on Security and Privacy, 2016.  Runchao Han, Zhimei Sui, Jiangshan Yu, Joseph K. Liu, Shiping Chen. Sucker punch makes you richer: Rethinking Proof-of-Work security model, IACR Cryptol. ePrint Arch, 2019.  Christopher Natoli, Jiangshan Yu, Vincent Gramoli, Paulo Jorge Esteves Veríssimo. Deconstructing Blockchains: A Comprehensive Survey on Consensus, Membership and Structure. CoRR abs/1908.08316, 2019.  FCoin, https://www.fcoin.pro  The Block Crypto. Cryptocurrency exchange Fcoin expects to default on as much as $125M of users' bitcoin, 2020.  Compound, https://compound.finance.  Philip Daian, Steven Goldfeder, Tyler Kell, Yunqi Li, Xueyuan Zhao, Iddo Bentov, Lorenz Breidenbach, Ari Juels. Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges. IEEE Symposium on Security and Privacy, 2020.  Uniswap. https://uniswap.org  Bowen Liu, Pawel Szalachowski. A First Look into DeFi Oracles. CoRR abs/2005.04377, 2020.  Guillermo Angeris, Tarun Chitra. Improved Price Oracles: Constant Function Market Makers, CoRR abs/ 2003.10001, 2020.  Uniswap V2.0 whitepaper. https://uniswap.org/whitepaper.pdf  MiniSwap. https://www.miniswap.org  Ziyao Liu, Nguyen Cong Luong, Wenbo Wang, Dusit Niyato, Ping Wang, Ying-Chang Liang, Dong In Kim. A Survey on Blockchain: A Game Theoretical Perspective. IEEE Access, 2019.
Is bitcoin really un-tethered? this paper looks at the btc / tether connection; it examines if tether is not back by dollars and is printed to pump prices mainly btc
here is the paper, its quite long but a good read. below ive added some quotes. If you read this paper it will likely just confirm want most who have been in this space for a while think about tether, its centralised with no accountability and is likely not backed 1:1 and is likely an instrument to pump / manipulate prices most noteably bitcoin. Is Bitcoin Really un-tethered? some snippets from the paper: flow of tether between exchanges, the main players:
Figure 1 plots the aggregate flow of Tether among major market participants on the Tether blockchain from its conception in October 6, 2014 until March 31, 2018. The size of the nodes is proportional to the sum of coin inflow and outflow to each node, the thickness of the lines is proportional to the size of flows, and all flow movements are clockwise. Tether is authorized, moved to Bitfinex, and then slowly distributed to other Tether-based exchanges, mainly Poloniex and Bittrex. The graph shows that almost no Tether returns to the Tether issuer to be redeemed, and the major exchange where Tether can be exchanged for USD, Kraken, accounts for only a small proportion of transactions. Tether also flows out to other exchanges and entities and becomes more widespread over time as a medium of exchange. A similar analysis of the flow of coins on the much larger Bitcoin blockchain shows that the three main Tether exchanges for most of 2017 (Bitfinex, Poloniex, and Bittrex) also facilitate considerable cross-exchange Bitcoin flows among themselves.6 Additionally, we find that the cross-exchange Bitcoin flows on Bitcoin blockchain closely matches the Tether flows on Tether blockchain.
a large player is likely responsiblle for a lot of this:
we find that one large player is associated with more than half of the exchange of Tether for Bitcoin at Bitfinex, suggesting that the distribution of Tether into the market is from a large player and not many different investors bringing cash to Bitfinex to purchase Tether
people who worked on the inside even admit tether isnt backed 1:1
in response to legal motions, on April 30, 2019, Bitfinex’s former General Counsel admitted that Tether does not have cash reserves equal to 100% of the outstanding Tethers. In a May 15, 2019 court hearing, a Bitfinex attorney also admitted that Tether did invest in instruments beyond cash, including Bitcoin, something clearly at odds with Tether’s longstanding claims.
Here are the most popular versions of Nakamoto’s identity — from the craziest to the most believable ones. On May 20, 2020, there was stated the transaction of 50 BTC that were mined in February 2009. Then, only a few people were engaged in its mining, with Hell Finney among them, known as the first cryptocurrency recipient, and the Bitcoin creator — Satoshi Nakamoto. The community believes that Satoshi Nakamoto is not the name of a real person. Some offered a trivial explanation: a quartet of technology companies SAmsung, TOSHIba, NAKAmichi, and MOTOrola can form the name Satoshi Nakamoto, but it seems far-fetched. There were no women among the candidates for the post of Nakamoto. The authors of all investigations are convinced that it is either a man or a group of people (most likely men).
In 2014, Newsweek published perhaps the most high-profile investigation about the identity of Satoshi Nakamoto. Journalists found an American of Japanese descent named Dorian Satoshi Nakamoto in California. He was 64 years old and flatly refused to communicate with the press. The person living in California was indeed a mathematician, physicist, and computer engineer and in the past worked on classified projects by private corporations and the US Department of Defense. However, Dorian Nakamoto completely denied the rumors and added that the hype around him caused stress for his family and asked to respect his privacy. A day after the publication of the article, Satoshi Nakamoto's profile on the P2PFoundation website came to life to write only one message: "I'm not Dorian Nakamoto."
Another “Satoshi moment” happened at the end of 2015, when the Bitcoin developers received a letter from [email protected], which was previously associated with Nakamoto. A letter with the subject line “Not this again” said: “I’m not Craig Wright”.Craig Steven Wright, an Australian entrepreneur, and scientist is probably the only person in the world who does not refute his involvement in Bitcoin but proves to everyone around that he created the first cryptocurrency in 2008. Wright affirmed that he was Satoshi Nakamoto. According to him, he left the project because of shame — he accused well-known developers and community representatives of striving to distribute child pornography and drugs using Bitcoin. Somehow, the version of Craig Wright, known as Faketoshi, looks rather dubious. The Wired published an article in which journalists cited several facts that contradict this version. In particular, it was said that two PGP keys, which were believed to prove that Satoshi and Craig Wright are one person, were created retroactively. It was also mentioned that Dr. Wright may not be a doctor at all: Charles Sturt University denied that he ever awarded him the title of doctor.
Probably the most plausible version is the creation of Bitcoin by cryptographer Nick Szabo. Back in 2013, researcher Sky Gray named the reasons why he believes that Szabo is Satoshi:
Text analysis (only 0.1% of cryptographers can have this style);
Nick was looking for partners to develop the Bit Gold project a few months before the announcement of the creation of Bitcoin (after which there was no more news about Bit Gold);
In the white paper, Satoshi did not refer to Szabo's work, although he referred to other projects that were less similar to bitcoin;
The lack of reaction to Bitcoin by Szabo, although such a decentralized cryptocurrency has been in the field of his interests in a whole decade;
The fact that Nick changed the date of his project retroactively so that it seemed to appear after the Bitcoin project was announced.
In the 1990s, Szabo also created the concept of smart contracts, which were implemented only after 10 years. Thus, if he was Satoshi, the community would conclude that this is quite logical, but Szabo denies everything.
This theory that Elon Musk is the developer of Bitcoin has no documentary evidence, but it does have many indirect features. For example, Elon Musk is a well-known innovator, and therefore the idea of creating Bitcoin, which in the future will become the only world currency, could well have crossed his mind. Or at least he might have just created cryptocurrency in order to get the better of banks and government and make free finances for ordinary people. As we know very well, Elon Musk is an excellent programmer, and he is able to write code in the same programming language in which Bitcoin is written. Naturally, Elon Mask himself denies his involvement in the creation of bitcoin. However, everyone who was nominated for the role of Satoshi does this. Of course, if you do not take into account Faketoshi Craig Wright.
John McAfee knows who hides under this nickname
On May 3, 2020, a cryptoveteran and fugitive US presidential candidate John McAfee gave an exclusive interview to Cointelegraph. McAfee believes that linguistic analysis of technical documentation, also known as stylometry, will help to reveal Satoshi to an attentive reader. In fact, this is all you need to remove the personality of Satoshi Nakamoto from the secret list. He mentioned that only five percent of the population put two spaces after the period. According to him, if you buy a program for determining authorship for $200 and upload Bitcoin White Paper, you will understand who that mystical Satoshi is with 99% probability.
As long as secrets exist, people will try to uncover them. If Bitcoin really becomes a new form of money, then the question of the creator will be more relevant than ever. Who was this man and what were his motives? Why do we not know anything about him, although he might have become fabulously rich? It is not known whether the real name of Satoshi Nakamoto will ever be known to the community, but it is known for sure that Bitcoin works regardless of whether this happens or not. To some extent, the story of Satoshi is the best thing that happened with the first cryptocurrency in its entire history, because then the problem of the emergence of a personality cult was solved by itself.
CryptoDiffer teamHello, everyone!We are glad to meet here:Max Freeman (@maxfreeman4), Project Lead at Epic CashYoga Dude (@Yogadude), PR&Marketing at Epic CashXenolink (@Xenolink), Advisor at Epic Cash Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here! Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here! Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us! CryptoDiffer teamLet`s start from the first introduction question:Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash? Yoga Dude PR&Marketing at Epic Cash Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing. I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially. Xenolink Advisor at Epic Cash Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers! Max Freeman Project Lead at Epic Cash I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level. CryptoDiffer team Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:) Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one? Max Freeman Project Lead at Epic Cash I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly. There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos that explain why we believe we have created something truly special here. Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange. Yoga Dude PR&Marketing at Epic Cash Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility. Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved. Xenolink Advisor at Epic Cash To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry. To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone. CryptoDiffer team Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months? Yoga Dude PR&Marketing at Epic Cash Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content. We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money. You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages Max Freeman Project Lead at Epic Cash Our future development roadmap will be published soon and includes 4 tracks: Usability Mining Core Protocol Ecosystem Development Core Protocol Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020 Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020 Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a Usability GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020 Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020 Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a Mining RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin. Ecosystem Development Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a Xenolink Advisor at Epic Cash From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide. CryptoDiffer team Great, thank you for your answers, we now can move to community questions part! Cryptodiffer Community You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC? Max Freeman Project Lead at Epic Cash The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part. Cryptodiffer Community To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from? Xenolink Advisor at Epic Cash Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project. Cryptodiffer Community Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you! Yoga Dude PR&Marketing at Epic Cash First, I must admit that I am still a huge fan and HODLer of Monero. That said: ✅ our blockchain is MUCH lighter than Monero’s ✅ our transaction processing speed is much faster ✅ our address-less blockchain is more private ✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU Cryptodiffer Community
the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community $EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future? Who is Epic Biggest competitors? And what’s makes epic better than competitors? Xenolink Advisor at Epic Cash We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity. Cryptodiffer Community What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Yoga Dude PR&Marketing at Epic Cash Since we are a community project, we have many developers, in addition to the core team. Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks. We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked. Cryptodiffer Community EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges? Xenolink Advisor at Epic Cash In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Max Freeman Project Lead at Epic Cash Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic. With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash. As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability Cryptodiffer Community Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ? Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors? Max Freeman Project Lead at Epic Cash RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware. Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses. Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware. The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved. Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem? Xenolink Advisor at Epic Cash Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic. Cryptodiffer Community I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto? What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ? Yoga Dude Pr&Marketing at Epic Cash Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential. The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers. The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique Cryptodiffer Community Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI? Yoga Dude PR&Marketing at Epic Cash We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on. Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way. Cryptodiffer Community If you could choose one celebrity to promote Epic-cash, who that would be? Max Freeman Project Lead at Epic Cash I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences. I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today. Epic Cash will have its OWN Celebrities Cryptodiffer Community How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it? Xenolink Advisor at Epic Cash Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin. Cryptodiffer Community what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? Max Freeman Project Lead at Epic Cash There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make. Cryptodiffer Community Q1 : What are your major goals to archive in the next 3–4 years? Q2 : What are your plans to expand and gain more adoption? Yoga Dude Pr&Marketing at Epic Cash Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁 We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting. Cryptodiffer Community It seems to me that EpicCash will have its first Halving, right? Why a halving so soon? Is a mobile version feasible? Max Freeman Project Lead at Epic Cash Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140. Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining. Cryptodiffer Community What markets will you add after that? Yoga Dude PR&Marketing at Epic Cash Well, we are aiming to have ALL markets Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry) We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages. Epic Cash is More than Money and its for Everyone. Cryptodiffer Community Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins? Max Freeman Project Lead at Epic Cash With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can. Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Xenolink Advisor at Epic Cash Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash. Cryptodiffer Community
You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well. Cryptodiffer Community Do EPICs in 2020 focus more on research and coding, or on sales and implementation? Yoga Dude PR&Marketing at Epic Cash We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy. In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC. Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters. Everyone with skin in the game gets the benefit of advancing the cause. Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content — https://www.youtube.com/watch?v=XtAVEqKGgqY a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this Cryptodiffer Community I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex? Let’s talk about the economic model, can EpicCash comply with the concept of value reserve? Max Freeman Project Lead at Epic Cash In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader. We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166 Max Freeman Project Lead at Epic Cash Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project. Xenolink Advisor at Epic Cash Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash . Yoga Dude Pr&Marketing at Epic Cash Thank you, CryptoDiffer Team, and this wonderful Community!!! Cryptodiffer TEAM Thank you everyone for taking your time and asking great questions Thank you for your time, it was an insightful session Spread the love
My 10 Months Journey in Algo Trading - A trip down the rabbit hole. (And why you should be persistent)
Hello everyone, the following is my own story inside this market. Since i first heard about Crypto, i never again lost interest for it. I remember it was late 2014 when i first met a friend that was deep into Bitcoin, saying all kinds of crazy stuff about it like it would be the future of money, that it was a revolutionary tech and was going to be the reason why governments would no longer be so able to control your own money (Later he dropped out of college to work for one of the major exchanges today). Me, being your average college anarchist, thought that was absolutely amazing, and i became eager to understand what that new tech actually meant. To this day i don't completely remember why i never bought any BTC at the time, maybe it was because i didnt have any kind of spare money on me, and that was about it. It was only late 2017 that I first got around to having a good amount of money to finally be able to buy some BTC. Now, guys, if any of you was around the scenario at the time, you should remember that BTC was peaking... Days later it completely crashed. I bought it at $17.000... Sold it at $8.300. I was completely furious. That money took me a long time to save up!! I remember not telling that to anyone, and I was completely and utterly done with crypto! But oh boy... Was I wrong. I really left the community after that, without any willingness to come back again. It was only until Mid July 2019 that crypto finally picked up on my radar again, when another friend added me to his Telegram discussion group. People there seemed quite the bunch, of all ages and degree of knowledge, sharing everything they could find about news/articles/theories about Btc and Altcoins. And this my friends, is where the 10 Months journey actually begins. Seeing that absurd amount of information being shared, i felt it was time to study the market again and put my money on it AGAIN, but this time as an Altcoin Trader (I now know it was a stupid idea). Studied for months, developed strategies, paper tested them... Lost it all in 2 weeks. Not satisfied, I wrongly believed the mistake was my own, and if i really wanted to conquer financial freedom, i had to study more, perfect my strategy. I repeated this cycle About 4 of 5 times, losing everything at somepoint, everytime. One day, someone forwarded me a paper saying about 90%+ traders will completely fail in the long run, and i completely agreed with it, concluding that i was one of those. But, an excerpt said the following: "Most traders lose in the long run not because their strategy suddenly stops working, but because they get emotional on trades". And the conclusion on my head was just as simple as you can imagine: "then, Let's remove emotion". To shorten the story, i met a guy there who had developed some sort of market scanner for a specific exchange. The Market scanner was absolutely great, but he wasn't managing to draw a good strategy from it. Hearing that, I reached out to two awesome programmers i met on college, so they could help me with some kind of algo trading bot based on what the scanner was telling us, and they agreed to help. I was in charge of Data Analysis/strategy developing, and the other two managed the Database and coded the hard part of the integration with the scanner. The first test was a complete failure as well. The algo, after A LOT of work on our end, managed to nail the top and always buy on it, resulting in an absurd amount of losses. We obviously were very disappointed saying that so much time was wasted on something that was not even close from being profitable. So, stubborn as we are, we studied even more. We added several self-adjustable parameters within it, Studied LSTM Analysis to apply better filters and Pretty much devoured the Turtle Trading Book. Guess what? The both still managed to lose, only this time a bit slower. At this point, we already accepted our fate that we were never going to make something work, but we kept researching new methods just because they helped us understand and try out Python and Data analysis tools in a practical way. When Corona arrived, we decided to lock ourselves up together, to give it one last as well aimed shot at developing an Algo. This time, we actually allowed ourselves to be creative and try all sorts of crazy out-of-the-box techniques, while always remembering the motto "The difference between Losing and Winning is merely detail." Then a flash of brilliance came to us. We were interpreting the market the wrong way all along, making something statical read something ever-shifting like the crypto market. That was bound to lose us money in the long run. We finally got rid of several useless add-ons on the algo, and updated the parameters for entries based on what our theory was. And well, we finally did it! The new algo is running since the 14th of this month, with 93% Winrate on First Targets across all of the exchange's Pairs and 80% winrate on the second Target. We are at our most happy moment with this journey and completely sure we can further improve our new and working system! So, here goes some tips: - No matter at which point you are on your Code, never stop studying. News things pop up everyday, and there's always something out there that you can use, but do not know exists. - "The difference between losing and winning is merely detail" - Never be afraid to share the project with others. They are your greatest source of help - Be aware of commisions and pay attention to compound interest - Never make a strategy that doesn't adapt itself, or better bots will start to read it and completely crush it. - Be persistent :) TL;DR I built a good algo with the money i lost along the way
Same lies about Dash still floating around - Time for another crackdown
This article was caught by our spamfilter because it's hosted on a reward-for-article platform (similar to steemit). Nonetheless I will respond to it, as it recycles the same old lies about Dash many of us have grown used to and it serves as in illustration that these lies and accusations are still after 6 years regurgitated 1:1 by ignorant bystanders without a single critical thought behind them. The article is a real mess as you will notice. The author didn't even bother to edit the question section into Dash from ZCash. Anyway, that's not the real issue. This is about the section "Dash Launch And Issuance" which I am about to respond to.
The Dash cryptocurrency has a rather controversial launch and issuance as it involved a 2-day ‘instamine’ or ‘premine’
There is a huge difference between a premine and a fastmine. Conflating the two shows the author is either ignorant and thus unqualified to talk about the subject matter or tries to mislead the reader. A premine means the public is excluded from mining, which provably never happened in Dash, thus the term is 100% inapplicable.
According to Dash’s founder, Evan Duffield, this premine was the result of a bug. However, there are many people who beg to differ.
Those who "beg to differ" are idiots plain and simple. Because we have already proven that the same thing happened 2.5 years earlier in Litecoin from which Dash originally forked off (and not from Bitcoin as the author initially claims at the beginning of the article).
To ‘resolve’ the situation, the majority of these instamined coins were sold for very low prices on exchanges. However, it is widely believed that most of these coins were simply scooped up by Evan Duffield and the Dash core team for incredibly low prices.
This is my favorite part, because it's probably the only original thought in the article, as I have never heard anyone make up something so incoherently dumb with regards to Dash's launch. First they say, Evan mined "all the coins by himself" now suddenly he's buying coins for "incredibly low prices"?! So, which is it? Can't have it both ways. Or did he buy coins from himself? Let's cut the crap. Is it too hard to simply admit the coins were sold on the free and open market to ANYONE willing to buy them?? Nothing was sold to "resolve" anything. Anyone, not just Evan and the team, had the chance to buy cheap coins for under a Dollar, which was fair and square, hands down. Those who missed out crying foul today are really just trying too hard. Also Dash Core did not exist in 2014. Again the author shows his ignorance further disqualifying himself.
Duffield released Dash before its intended release date (which means the instamine that occurred can be classified as a premine).
Dash’s instamine happened because Dash was launched with a block reward of 500 coins per block before it was abruptly cut 2 days later after 2million coins were instamined.
Of course the fix would happen "abruptly" as soon as the necessary blockheight was reached, otherwise it would've gone on forever. It was a mess up and nobody denies this. The fact remains that the coins were sold for pennies as my analysis has shown. Here Evan talks about the launch himself. He clearly states that coins were spilt out too fast and he was under immense pressure to fix it asap.
Initially, Dash was only minable on Linux, which could have been intended so that fewer people would mine Dash and Duffield and Dash’s core team could dominate mining (over 90% of all computers use the Windows operating system).
Conjecture without a shred of evidence assuming ill-intent over good faith. Back in 2014 mining was still a niche hobby by nerds where Linux was the dominating operating system. Evan is a nerd who was using Linux at the time. He didn't own a Windows machine. If he did, why would he offer a reward to someone compiling a Windows binary? If he was the evil fastminer everyone accuses him of, it would be in his best interest to delay Windows mining as much as possible. The accusation holds no water.
Evan Duffield was able to temporarily mine Dash by himself for a while when the public miner wasn't working.
Dash was initially meant to have a max supply of 80 million DASH, but Evan Duffield held an obscure poll where the majority of the voters voted to reduce the Dash max coin supply from 80million to 20million (which instantly made the instamined DASH worth more).
First of all the value of all coins goes up with a lower supply, not just those that were first mined (duh!). This is intellectual dishonesty, but hardly surprising considering the previous lies of the author. Second, this poll is near worthless as a historic summary as it ignores what went down in the community before: Watch this analysis by Tao of Satoshi to learn that there was major community pressure on Evan's back with endless debates on how to change the reward structure and emission rate of Dash until it was finally settled after a full 7 adjustments in both directions. The narrative that there was one evil singular supply decrease to maliciously enrich Evan is completely stupid.
All in all, Dash’s launch is shrouded in controversy, and it's clear that Evan Duffield and Dash developers benefited tremendously from how everything went down.
The only thing shrouded in mystery is why anyone would believe these false conclusions, accusations and flat out lies when the facts are readily accessible. Of course the founder of any cryptocurrency benefits the most. It's how it's supposed to be. Satoshi "benefitted tremendously" as well from launching Bitcoin. The fact that Evan was able to quit his day job and work for Dash full time was the best thing that could have ever happened to this project. Of course our detractors don't like that, because they don't want to see Dash succeed. But we did and we're still here after 6 years of ceaseless innovation. Repeating ancient lies cannot undo that.
Bitcoin shows staying power. Analysis. 28 August 2014, 11:40. Anna Cova. 0. 531. Bitcoin is gaining popularity at U.S. online merchants including Overstock.com and Expedia, as customers use a digital currency which is now showing some stable power, - Reuters reports. An analysis of batching in Bitcoin. Hasu. Follow. In the three-year period from Jan. 1 2014 to Jan. 1 2017, per-transaction fees had never exceeded 31 cents on a weekly average. And the hits CoinDesk analyses key cryptocurrency trends, challenges, opportunities, and the outlook for Bitcoin in 2014 in its first Bitcoin report. Bitcoin has printed gains in February in six out of the last eight years. The 31.5 percent slide seen in 2014 is the biggest February drop on record. Meanwhile, the biggest February gain of 63.9 Bitcoin Price in 2014. The price of Bitcoin in USD is reported by Coindesk. All prices on this page are nominal (i.e., they are not indexed to inflation). For price history since Bitcoin was first traded on exchanges in 2010, click here.
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