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AT2: Asynchronous Trustworthy Transfers
AT2, a fairly new unknown tech to create a decentralized asset transfer system without blockchain. This week there was an article @ www.computing.co.uk. See below. link: https://www.computing.co.uk/feature/4017118/at2-answer-cryptocurrency-energy-performance AT2 paper: https://arxiv.org/pdf/1812.10844.pdf Could AT2 be the answer to cryptocurrency's energy and performance problems? Blockchains are slow, wasteful and ill-suited for digital currencies, say researchers who believe they've found a better way Blockchains solve a hard problem: how to ensure consensus across a distributed, decentralised network, where messages arrive out of order if at all, where individual nodes may fail, and where a certain proportion may be actively malicious. The original blockchain, bitcoin, was designed to support a novel digital currency, and the issue its consensus algorithm solved was preventing double-spend. It also successfully introduced game theory for security: adversaries would have to spend more money on an attack than they could expect to gain financially. All this and the original protocol was just a few hundred lines of code. But this achievement came at a high cost in terms of energy use and performance. With bitcoin, a new leader is required to verify each block of transactions, that leader being the first device to complete a computationally heavy challenge (Proof of Work, PoW). As a result, the blockchain's throughput is painfully slow at around seven transactions per second (Visa claims it can do 56,000) and the whole process is massively wasteful of energy. These drawbacks have been surmounted, to some degree, in newer blockchain designs using overlay networks, sharding and different types of "proofs of" and by non-blockchain directed acyclic graphs (DAGs), but each requires tradeoffs in terms of centralisation, complexity or security. A group of researchers led by computer scientist Professor Rachid Guerraoui of Swiss University Ecole Polytechnique Fédérale de Lausanne (EPFL) decided to look afresh at the problem. Is this gargantuan security apparatus, in which every node in a network of thousands or millions must come to a consensus about the ordering of events, really necessary everytime someone makes a purchase? Could a leaderless mechanism be applied to the problem instead? If so, could it be guaranteed to be reliably consistent, even when a certain number of nodes are malicious or faulty (Byzantine)? The headline answer, published in an initial paper last year, is that network-wide consensus is overkill for simple asset transfers. If cryptocurrencies could be rebooted, all the fossil fuels burned by miners of bitcoin and its clones could be left in the ground and Visa-level transaction speeds could be achieved without any loss of security or reliance on centralised control. As compact as Satoshi's original bitcoin protocol itself, the few hundred lines of code that make up their Asynchronous Trusted Transfers (AT2) algorithm could solve some of the tricky problems that have plagued decentralised token-based networks from the off. AT2 can be used to validate transactions within two different decentralised networking scenarios: (1) permissioned or small unpermissioned networks, and (2) global scale unpermissioned networks. In the first case, the algorithm uses quorum for validating actions, whereby a certain proportion of the network's nodes must agree an action is correct before it can take place. The second scenario, networks made up of very large number of machines (nodes), uses probabilistic sampling. Instead of asking all nodes it checks a number of randomly selected nodes for their viewpoint. This is much more efficient and scalable than the deterministic quorum but carries a tiny (ca. 10-15) possibility of failure. Doing away with network-wide consensus means AT2 sidesteps the bane of decentralised networks, the FLP Impossibility - the theory that in a fully asynchronous system, a deterministic consensus algorithm cannot be safe, live and fault-tolerant. Computing caught up with Matteo Monti, who worked on the statistical aspects of AT2, and by email with Guerraoui to find out more. We also spoke to David Irvine of networking firm MaidSafe, which has adopted AT2 to simplify its consensus process. Incentivising improvements We asked Monti (pictured) to summarise the innovation that AT2 brings to the table. "What we noticed is that there's a specific subclass of problems that can be solved on a decentralised, distributed network without requiring consensus," he said. "The main use for consensus at the moment, cryptocurrency transactions, is part of that class. We can solve this using a weaker abstraction and in doing so you gain the ability to work in a completely asynchronous environment." Bitcoin doesn't even solve consensus well. It solves eventual consensus which an even weaker abstraction, he added, whereas AT2 can guarantee strong eventual consistency. Another issue it tackles is PoW's incentivization model which means that improvements in technology do not translate into a better performing network. "With bitcoin, the bottleneck is always electricity. If everyone doubles their computational speed it's not going to change the efficiency of the network. Everyone's competing not to compute but to waste energy." In place of PoW, AT2 uses ‘Proof of Bandwidth', i.e. evidence of recent interaction, to verify that a node is real. Since it doesn't rely on consensus, the performance of AT2 should allow messaging speeds across the network that approach the theoretical maximum, and improvements in hardware will translate into better overall performance. Security measures Blockchains like bitcoin are extremely resilient against Sybil attacks; bitcoin is still running after all, in the face of unwavering opposition from powerful nation states and bankers. Sybil attacks are a major vulnerability in permissionless decentralised networks where anyone can join anonymously, but there are others too. Monti said the most challenging aspect of designing the AT2 algorithm was distilling all the potential types of dangerous Byzantine behaviour into a manageable set so they could be treated using probability theory. As a result of studying many possible failure scenarios, including Sybil, the algorithm is able to quickly react to deviations from the norm. Other security features flow from the fact that each network node needs to know only a limited amount about its counterparts for the system to function. For example, the randomness used in sampling operations is generated locally on the calling device rather than on the network, making this vector hard to utilise by an attacker looking to influence events. Signals are passed across the network via a messaging system called Byzantine Reliable Broadcasting (BRB) a gossip-based method by which nodes can quickly and reliably come to an agreement about a message even if some are Byzantine. As a result of these features, AT2 does not rely on economic game theory for security, said Monti. "I'd go as far as saying that the moment you need to implement an economic disadvantage to attacking the system, it means that you failed to make it impossible to attack the system. We don't care about your interests in attacking the system. What we want to achieve is a proof that no matter what you do, the system will not be compromised." ‘Crypto-Twitter' AT2 starts with the simple idea that rather than requiring the whole network to maintain a time-ordered record of my transactions (as with a blockchain or DAG), the only person who needs to keep that tally is me. If I decide to spend some money, I merely announce that fact to the network over BRB and this request will be held in a memory snapshot escrow. Depending on the network type, a representative sample or a quorum of other nodes then check my balance and inspect my ordered transaction history to ensure that the funds haven't already been spent (each transaction has a unique sequential ID) and provided all is correct the transaction is guaranteed to go through, even if up to a third of those validators are malicious. If I try to cheat, the transaction will be blocked. Monti likens a wallet on an AT2 network to a social media timeline. "What we've proved, essentially, is that you can have a cryptocurrency on Twitter," he explained. "A payment works in two steps. First, there's a withdrawal from my account via a tweet, then the second step is a deposit, or a retweet. I tweet a message saying I want to pay Bob. Bob then retweets this message on his own timeline, and in the act of retweeting he's depositing money in his account. "So everyone has their own independent timeline and while the messages - my tweets - are strictly ordered, that's only in my own timeline; I don't care about ordering relative to other timelines. If I try to pay someone else, it will be obvious by the sequence of tweets in my account, and my account only, whether I can perform that payment. "In contrast, consensus effectively squeezes all of the messages into a unique timeline on which everybody agrees. But this is overkill, you don't need it. We can prove that it still works even if the ordering is partial and not total, and this enables us to switch from consensus to reliable broadcast." But of course, nothing comes for free. AT2 can verify exchanges of tokenised assets, but aside from arrangements between a small number of opted-in parties, it does not have the ability to support smart contracts of the type that are viable on ethereum and other blockchains, because this does require network-wide consensus. Guerraoui said his team is working on "refinements and extensions" to support such functionality in the future. Early adopters AT2 is still pretty ‘cutting edge'. Three papers have been accepted for peer review the latest published in February, but it provides the sort of efficiencies and simplifications that could bring real progress. Guerraoui said AT2 has "received interest from many groups including companies ‘selling' blockchain approaches, as well as companies and organisations using such approaches". One organisation that has already picked up on the potential of AT2 is Scotland's MaidSafe, creator of the SAFE Network. MaidSafe is already using AT2 to replace its Parsec consensus algorithm, which testing showed was indeed overkill for many network operations. CEO David Irvine said he and his colleagues came across AT2 while working on another way of propagating changes to data without consensus, conflict-free data replicated types (CRDTs), promptly forked the code and started to apply it. SAFE, currently in Alpha, is a sharded network, meaning it's subdivided into small semi-autonomous sections. On a network level, the way it works is that trusted 'elder' nodes vote on a requested action then pass instructions to other sections to carry it out. AT2 allows the initial task of accumulating the votes for an action, which had been done by the elders using a consensus algorithm, to be moved off the network and onto the requesting client which is much more lightweight and efficient. Once a quorum of votes has been gathered, the client simply resubmits the request and the elders will ensure it's carried out. The system is much simpler and should be more secure too. "It's 200 lines of logic compared to 15,000 for a start," Irvine said. AT2 is not just used to validate token transfers. By the same mechanism, it can also be used to authorise requests to store or change data. Together with CRDTs, which guarantee that such changes cannot fail, this makes for a very tight and efficient ship, said Irvine. "AT2 is for us a missing link. The difficulty of several nodes agreeing is simplified by the initiator taking on the effort of accumulating quorum votes. It seems so simple but in fact, it's an amazing innovation. It certainly falls into the category of 'why didn't I think of that?'."
Typical Bitcoin forks have a couple of issues Frail security: Double spends On the off chance that the fork utilizes a similar evidence of work, or mining equipment, it's inconsequential for diggers from the bigger unique venture to assault it. Medium BitcoinHEX utilizes the very much tried ERC20 standard to keep away from any of these issues. Powerless advancement: Fewer engineers In principle, a bigger network of engineers will attempt more cool things and complete in excess of a littler network. BitcoinHEX by being an ERC20 token gets full favorable position of the biggest pool of designers in crypto (Ethereum engineers), and the entirety of the cool new innovations they make, for example, appropriated trades, nuclear swaps, and so forth Poor motivator arrangement: Free riders You and your cooperation difficult to make something new and cool, to have a whale wake up one day and glimmer crash the market on you. Why? Free loaders suck. BitcoinHEX "We're all Satoshi" include which gives every unclaimed coin to individuals that claimed at 2% per week more than 50 weeks implies that in under a year, just genuinely invested individuals will hold the token. Out of line dissemination Should the person that lives in china with free power and about free work accessible get most of all the recently stamped coins (expansion)? While expanding centralization, and not wanting to haggle with the journalists of the product they run (center designers.) BitcoinHEX is genuinely circulated to those that advance it through: the 5% referral hold it, through staking, or on the other hand help get the undertaking to minimum amount and appropriation (rewards for cases and guarantee size.) The rich getting more extravagant unreasonably Trades and assets reward themselves while offering nothing to the little folks whose Bitcoin they should be in guardianship of. Trades are something contrary to what Bitcoin was made for. Distributed money. Not companion to trade to peer money. They're large security openings that have l ost a large number of dollars of client reserves. Whales asserting BitcoinHEX are punished 50-75% on the grounds that who actually needs some mammoth trade or store guaranteeing an enormous part of your token to dump on you at their recreation? Punishment triggers from 1k-10k+ coins. Expansion for security Though Bitcoin has expanded its stockpile by 17 million coins over its reality by paying diggers to mine (square rewards.) BitcoinHEX needn't bother with expansion for security. Enough individuals are digging Ethereum for a wide range of reasons that we don't need to pay them BitcoinHEX to do as such. Disparagement of the first A few forks like to imagine they're the genuine article, and not only a duplicate. They do this by having a fundamentally the same as name, logo, and even purchase twitter handles and sites that used to advance the genuine article, to advance the duplicate. In reality a duplicate does best when it separates itself with better highlights, evaluating, or promoting. In the event that your plan of action incorporates claiming to be something you're not, it's a terrible plan of action. BitcoinHEX isn't Satoshi's vision, it's likewise not Bitcoin. It's Bitcoin forked into Ethereum. That has focal points ordinary Bitcoin forks don't. It is amusing to prod different forks when satoshisvision.com focuses to BitcoinHEX.com however Smiley They earned that prodding. Why BitcoinHEX is incredible Low expansion All the cool game hypothesis that quickens appropriation of the undertaking ends in under 1 year. At that point the main expansion in the undertaking originates from individuals that've removed coins from flow by staking. At the point when the main swelling you have is from remunerations to individuals that have trustlessly and safely bolted up their tokens for an extensive stretch of time, that is incredible for esteem. No paying excavators for security with square rewards Conveyance to those well on the way to have been in crypto the longest Simple for trades to coordinate because of recognition and trust of ERC20 standard. Works with appropriated trades no problem at all Works with nuclear swaps no problem at all Most devs in the crypto (Ethereum) Simple case apparatus, asserts all UTXOs in a location without a moment's delay Incredible advertising. Howdy Smiley Low charges. A bitcoinHEX exchange would just cost around 27 pennies or less on 5/24/2018 Scaling arrangements not too far off. Vitalik Buterin has been distributing take a shot at evidence of stake and sharding which could lessen waste and increment exchange limit incredibly. Incredible practice, particularly in the event that you've never encountered the biggest crypto environment and second biggest by marketcap. Advances free discourse. You can transmit your business and financial vitality that used to just exist in the Bitcoin language, in the Ethereum language. Broadens your scope of individuals you can exchange with, talk tokens to. Tokenomics Moment Referral Bonus Individuals you allude get came up with all required funds, and you get a 5% referral reward. Appropriation rewards to stakers (end on 50th week, since all cases will be finished) We're all Satoshi (week after week) Like clockwork a reward equivalent to 2% of unclaimed assets is dispersed to individuals that claimed. Reward topped at 100% of unclaimed tokens. For example, if Satoshi doesn't guarantee, individuals who willed get a reward equivalent to his coins after some time, however not more. Speed Bonus (paid to petitioner on guarantee) Claimable: Balance in addition to [math below] first week 10%< second week (10% x (.95 to the intensity of [week number]) SpeedBonuss Viral Bonus (week by week) The more individuals that guarantee, the bigger the rewards Complete reward upmod (Guarantee % of 1/3 all out conceivable case occasions)/10 Minimum amount Bonus (week by week) The bigger the cases the bigger the rewards. All out reward upmod (Guarantee % of all out potential coins)/10 A debt of gratitude is in order for the rewards Inception contract gets a similar reward you do. Selection rewards to stakers (end on 50th week, since all cases will be finished) Senseless whales Singular cases 1k to 10k+ btc punished 50 to 75% directly scaled before rewards. Goxmenot Gox trustee addresses can't guarantee Typical Staking (Not thought about a reward and doesn't end at 50 weeks) 1% per 10 days. Longer lockup= impetus multiplier Example Time reward: multi day lockup = 129.6% (on the grounds that 3.6 occasions 36%= 129.6%) Time divider As % of profit tokens is bolted up, decreases reward multiplier. In the event that half bolted up at start, at that point multiplier decreased half Early winged creatures get the worms. Guaranteeing A depiction of the Bitcoin UTXO will be taken at square tallness (to be reported after agreement is reviewed). The UTXO set will be smoothed for gas effectiveness, and the Merkle tree foundation of that set will be implanted in an ERC20 token agreement to permit Bitcoin holders to reclaim their tokens. HEX links: Website: https://hex.win/ Twitter page: https://twitter.com/HEXCrypto Facebook page: https://www.facebook.com/HEXcrypto Telegram page: https://t.me/HEXcrypto Github: https://github.com/bitcoinHEX Reddit page: https://hexcrypto.reddit.com/ Medium page: https://medium.com/hex-crypto/ Ann: https://bitcointalk.org/index.php?topic=4523610.0 Author information; Bitcointalk username: Corneafx Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2649614
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Imagine if there was one desk that all stories could cross so that, at 4am, a media plan could be decided upon and disseminated where all news outlets coordinated to set the goalposts of debate and hyper focused on specific issues to drive a narrative to control how you vote and how you spend money; where Internet shills were given marching orders in tandem to what was shown on television, printed in newspapers and spread throughout articles on the World Wide Web. https://i.imgur.com/Elnci0M.png In the past, we had Operation Mockingbird, where the program was supremely confident that it could control stories around the world, even in instructions to cover up any story about a possible “Yeti” sighting, should it turn out they were real. https://i.imgur.com/121LXqy.png If, in 1959, the government was confident in its ability to control a story about a Yeti, then what is their level of confidence in controlling stories, today? https://i.imgur.com/jQFVYew.png https://i.imgur.com/ZKMYGJj.png In fact, we have a recent example of a situation similar to the Yeti. When Bill Clinton and Loretta Lynch met on the TARMAC to spike the Hillary email investigation, the FBI was so confident it wasn’t them, that their entire focus was finding the leaker, starting with searching within the local PD. We have documentation that demonstrates the state of mind of the confidence the upper levels of the FBI have when dealing with the media. https://i.imgur.com/IbjDOkI.png https://i.imgur.com/NH86ozU.png The marriage between mainstream media and government is a literal one and this arrangement is perfectly legal. https://i.imgur.com/OAd4vpf.png But, this problem extends far beyond politics; the private sector, the scientific community, even advice forums are shilled heavily. People are paid to cause anxiety, recommend people break up and otherwise sow depression and nervousness. This is due to a correlating force that employs “systems psychodynamics”, focusing on “tension centered” strategies to create “organizational paradoxes” by targeting people’s basic assumptions about the world around them to create division and provide distraction. https://i.imgur.com/6OEWYFN.png https://i.imgur.com/iG4sdD4.png https://i.imgur.com/e89Rx6B.png https://i.imgur.com/uotm9Cg.png https://i.imgur.com/74wt9tD.png In this day and age, it is even easier to manage these concepts and push a controlled narrative from a central figure than it has ever been. Allen & Co is a “boutique investment firm” that managed the merger between Disney and Fox and operates as an overseeing force for nearly all media and Internet shill armies, while having it’s fingers in sports, social media, video games, health insurance, etc. https://i.imgur.com/zlpBh3c.png https://i.imgur.com/e5ZvFFJ.png Former director of the CIA and Paul Brennan’s former superior George Tenet, holds the reigns of Allen & Co. The cast of characters involves a lot of the usual suspects. https://i.imgur.com/3OlrX7G.png
In 1973, Allen & Company bought a stake in Columbia Pictures. When the business was sold in 1982 to Coca-Cola, it netted a significant profit. Since then, Herbert Allen, Jr. has had a place on Coca-Cola's board of directors. Since its founding in 1982, the Allen & Company Sun Valley Conference has regularly drawn high-profile attendees such as Bill Gates, Warren Buffett, Rupert Murdoch, Barry Diller, Michael Eisner, Oprah Winfrey, Robert Johnson, Andy Grove, Richard Parsons, and Donald Keough. Allen & Co. was one of ten underwriters for the Google initial public offering in 2004. In 2007, Allen was sole advisor to Activision in its $18 billion merger with Vivendi Games. In 2011, the New York Mets hired Allen & Co. to sell a minority stake of the team. That deal later fell apart. In November 2013, Allen & Co. was one of seven underwriters on the initial public offering of Twitter. Allen & Co. was the adviser of Facebook in its $19 billion acquisition of WhatsApp in February 2014. In 2015, Allen & Co. was the advisor to Time Warner in its $80 billion 2015 merger with Charter Communications, AOL in its acquisition by Verizon, Centene Corporation in its $6.8 billion acquisition of Health Net, and eBay in its separation from PayPal. In 2016, Allen & Co was the lead advisor to Time Warner in its $108 billion acquisition by AT&T, LinkedIn for its merger talks with Microsoft, Walmart in its $3.3 billion purchase of Jet.com, and Verizon in its $4.8 billion acquisition of Yahoo!. In 2017, Allen & Co. was the advisor to Chewy.com in PetSmart’s $3.35 billion purchase of the online retailer.
Previous conference guests have included Bill and Melinda Gates, Warren and Susan Buffett, Tony Blair, Google founders Larry Page and Sergey Brin, Allen alumnus and former Philippine Senator Mar Roxas, Google Chairman Eric Schmidt, Quicken Loans Founder & Chairman Dan Gilbert, Yahoo! co-founder Jerry Yang, financier George Soros, Facebook founder Mark Zuckerberg, Media Mogul Rupert Murdoch, eBay CEO Meg Whitman, BET founder Robert Johnson, Time Warner Chairman Richard Parsons, Nike founder and chairman Phil Knight, Dell founder and CEO Michael Dell, NBA player LeBron James, Professor and Entrepreneur Sebastian Thrun, Governor Chris Christie, entertainer Dan Chandler, Katharine Graham of The Washington Post, Diane Sawyer, InterActiveCorp Chairman Barry Diller, Linkedin co-founder Reid Hoffman, entrepreneur Wences Casares, EXOR and FCA Chairman John Elkann, Sandro Salsano from Salsano Group, and Washington Post CEO Donald E. Graham, Ivanka Trump and Jared Kushner, and Oprah Winfrey.
https://i.imgur.com/VZ0OtFa.png George Tenet, with the reigns of Allen & Co in his hands, is able to single-handedly steer the entire Mockingbird apparatus from cable television to video games to Internet shills from a singular location determining the spectrum of allowable debate. Not only are they able to target people’s conscious psychology, they can target people’s endocrine systems with food and pornography; where people are unaware, on a conscious level, of how their moods and behavior are being manipulated. https://i.imgur.com/mA3MzTB.png
"The problem with George Tenet is that he doesn't seem to care to get his facts straight. He is not meticulous. He is willing to make up stories that suit his purposes and to suppress information that does not." "Sadly but fittingly, 'At the Center of the Storm' is likely to remind us that sometimes what lies at the center of a storm is a deafening silence."
https://i.imgur.com/YHMJnnP.png Tenet joined President-elect Bill Clinton's national security transition team in November 1992. Clinton appointed Tenet Senior Director for Intelligence Programs at the National Security Council, where he served from 1993 to 1995. Tenet was appointed Deputy Director of Central Intelligence in July 1995. Tenet held the position as the DCI from July 1997 to July 2004. Citing "personal reasons," Tenet submitted his resignation to President Bush on June 3, 2004. Tenet said his resignation "was a personal decision and had only one basis—in fact, the well-being of my wonderful family—nothing more and nothing less. In February 2008, he became a managing director at investment bank Allen & Company. https://i.imgur.com/JnGHqOS.png We have the documentation that demonstrates what these people could possibly be doing with all of these tools of manipulation at their fingertips. The term for it is “covert political action” for which all media put before your eyes is used to serve as a veneer… a reality TV show facade of a darker modus operandum. https://i.imgur.com/vZC4D29.png https://www.cia.gov/library/center-for-the-study-of-intelligence/kent-csi/vol36no3/html/v36i3a05p_0001.htm
It is now clear that we are facing an implacable enemy whose avowed objective is world domination by whatever means and at whatever costs. There are no rules in such a game. Hitherto acceptable norms of human conduct do not apply. If the US is to survive, longstanding American concepts of "fair play" must be reconsidered. We must develop effective espionage and counterespionage services and must learn to subvert, sabotage and destroy our enemies by more clever, more sophisticated means than those used against us. It may become necessary that the American people be made acquainted with, understand and support this fundamentally repugnant philosophy.
Intelligence historian Jeffrey T. Richelson says the S.A. has covered a variety of missions. The group, which recently was reorganized, has had about 200 officers, divided among several groups: the Special Operations Group; the Foreign Training Group, which trains foreign police and intelligence officers; the Propaganda and Political Action Group, which handles disinformation; the Computer Operations Group, which handles information warfare; and the Proprietary Management Staff, which manages whatever companies the CIA sets up as covers for the S.A.
…Those operations we inaugurated in the years 1955-7 are still secret, but, for present purposes, I can say all that’s worth saying about them in a few sentences – after, that is, I offer these few words of wisdom. The ‘perfect’ political action operation is, by definition, uneventful. Nothing ‘happens’ in it. It is a continuing arrangement, neither a process nor a series of actions proceeding at a starting point and ending with a conclusion.
CIA FBI NSA Personnel Active in Scientology: https://i.imgur.com/acu2Eti.png When you consider the number of forces that can be contained within a single “political action group” in the form on a “boutique investment firm,” where all sides of political arguments are predetermined by a selected group of actors who have been planted, compromised or leveraged in some way in order to control the way they spin their message. https://i.imgur.com/tU4MD4S.png The evidence of this coordinated effort is overwhelming and the “consensus” that you see on TV, in sports, in Hollywood, in the news and on the Internet is fabricated.
Under the guise of a fake account a posting is made which looks legitimate and is towards the truth is made - but the critical point is that it has a VERY WEAK PREMISE without substantive proof to back the posting. Once this is done then under alternative fake accounts a very strong position in your favour is slowly introduced over the life of the posting. It is IMPERATIVE that both sides are initially presented, so the uninformed reader cannot determine which side is the truth. As postings and replies are made the stronger 'evidence' or disinformation in your favour is slowly 'seeded in.' Thus the uninformed reader will most likely develop the same position as you, and if their position is against you their opposition to your posting will be most likely dropped. However in some cases where the forum members are highly educated and can counter your disinformation with real facts and linked postings, you can then 'abort' the consensus cracking by initiating a 'forum slide.'
When you find yourself feeling like common sense and common courtesy aren’t as common as they ought to be, it is because there is a massive psychological operation controlled from the top down to ensure that as many people as possible are caught in a “tension based” mental loop that is inflicted on them by people acting with purpose to achieve goals that are not in the interest of the general population, but a method of operating in secret and corrupt manner without consequences. Notice that Jeffrey Katzenberg, of Disney, who is intertwined with Allen & Co funds the Young Turks. He is the perfect example of the relationship between media and politics.
Katzenberg has also been involved in politics. With his active support of Hillary Clinton and Barack Obama, he was called "one of Hollywood's premier political kingmakers and one of the Democratic Party's top national fundraisers."
Last week, former DreamWorks Animation CEO Jeffrey Katzenberg’s new mobile entertainment company WndrCo was part of a $20 million funding round in TYT Network, which oversees 30 news and commentary shows covering politics, pop culture, sports and more. This includes the flagship “The Young Turks” program that streams live on YouTube every day. Other investors in the round included venture capital firms Greycroft Partners, E.ventures and 3L Capital, which led the round. This brings total funding for Young Turks to $24 million.
Hollywood activism long has been depicted as a club controlled by a handful of powerful white men: Katzenberg, Spielberg, Lear, David Geffen, Haim Saban and Bob Iger are the names most often mentioned. But a new generation of power brokers is ascendant, including J.J. Abrams and his wife, Katie McGrath, cited for their personal donations and bundling skills; Shonda Rhimes, who held a get-out-the-vote rally at USC's Galen Center on Sept. 28 that drew 10,000 people; CAA's Darnell Strom, who has hosted events for Nevada congresswoman Jacky Rosen and Arizona congresswoman Kyrsten Sinema; and former Spotify executive Troy Carter, who held three fundraisers for Maryland gubernatorial candidate Ben Jealous (Carter also was a fundraiser for President Obama).
Viacom, after splitting off from Les Moonves Les Moonves ' CBS , still holds Paramount Pictures, and that movie studio in December agreed to acquire DreamWorks SKG, the creative shop founded by the Hollywood triumvirate of Steven Spielberg, David Geffen and Jeffrey Katzenberg (a former exec at The Walt Disney Co.). DreamWorks Animation had been spun off into a separate company. Now it's time for Freston to make back some money--and who better to do a little business with than George Soros? The billionaire financier leads a consortium of Soros Strategic Partners LP and Dune Entertainment II LLC, which together are buying the DreamWorks library--a collection of 59 flicks, including Saving Private Ryan, Gladiator, and American Beauty.
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Divorcing the settlement and transaction layers; the long con and maybe the real story behind the hijacking of Bitcoin.
I see a lot of posts going around about how easy it is to demolish small blockers on any reasonable technical debate. The small block crew doesn't debate technology because that's never what any of this was actually about, and something mentally slipped into place for me recently when I fully grasped the nature and implications of the divorce of the settlement and transaction layers in a broader macroeconomic and historical sense. The fundamental promise of cryptocurrencies is a final solution to the previously impossible problem of an optimal currency. This is somewhat condensed, so allow me to unpack it. The economy is a consensual shared mass hallucination. Everyone does what they do in order to get by within it because they see it as the best combination of what is in their abilities, coupled with what the rest of humanity that they trade with values. In order to get an accurate measure of what one should be doing at any one point in time, it necessarily follows that one needs a stable, immutable and constant unit of account to figure out the proper true value of provision of a product or service at any point in time. Political currencies, which are commonly referred to now as "fiat currencies" and very poorly understood by the great mass of humanity which employ them, are anathema to this goal of figuring out the proper values of things, exactly because they are designed to be subject to infinite manipulation by the issuing authorities, which are politically appointed and accountable. Therefore any given government is incentivised to tamper extensively with the currency in order to provide "chicken in every pot" style benefits to their voting populace and remain in power and pay off their sponsors who so situated them. This process necessarily distorts the market and results in things like having more bankers per capita than police, ad et al, despite bankers being fundamentally useless things. Stories must be spun about economic crises and situations which justify monetary policies which result in the desired economic distortions that keep the votes flowing in. Eventually the system fails as even the slowest of the slow realise that it's all just a shell game where everyone is pretending that everything has value when none of it actually does in the slightest. Simply put; it's my belief that this is what's happening now. You're not seeing "a crypto bubble", you're seeing "the popping of the fiat bubble". First point about that; old school austrian gold standard types would about this point be nodding their heads and preparing to launch into a tirade about the necessity of resuming the gold standard so that we may have a hard mechanism to value once again. This misses the critical point that gold is necessarily by physical nature as a currency largely separated into transaction and settlement portions. This was less a weakness in a smaller economy where trade could be conducted with coins and things of this manner, but when global trades are measured in tons of the underlying extremely precious metal, it's simply unrealistic to imagine that it's going to be sloshing around the globe constantly in battleships loaded with bars. And that leads to the core problem with a gold standard that will re-emerge later in this tirade, so keep it in mind. The divorce of the transaction layer from the settlement layer enables corrupt influence and tampering within the system in much the exact same way as the fiat system. Historically "fractional reserve" banking with a set portion of gold was a mild form of this, and reserves dwindled over time as it became politically expedient to "expand the economy and not be tied down by something as parochial as gold", and other associated ridiculous excuses to circumvent the entire purpose of the apparatus. This has grown to epidemic portions in the present market where paper gold trade outweighs physical gold trade by a ratio of 542 to 1. Given that, obviously the paper gold trade is going to set the price of the physical gold, and the value is once again utterly divorced from any kind of stable actual reality by which prices can be said to accurately reflect value. Second point about that, and why Bitcoin is such a failure, as well as the agenda you can very easily see within this zombie shambling about in the carcass of what was once a beautiful idea; The core treachery that has been inflicted upon the project is what? You guessed it; to divorce the settlement and transaction layers from one another, which makes it once again subject to the exact same weaknesses as gold in the modern world with its laughable 542 to 1 paper to physical transaction to settlement layer. If I were a paranoid man. A conspiracy theorist, say. I would speculate that the hijacking of the Bitcoin project specifically that as resulted in this divorce of transaction and settlement layers, when no such divorce is required from a technical perspective whatsoever, is everything one should need to know about the forces behind the project, who really has control, and which direction it is being pushed. But I'm not and that's all crazy talk, right? I'm sure our new Bitcoin overlords are all sweetness and light and not out to just re-implement the same currently imploding system with a fashionable new rebel label stuck upon it by any means at all, because that would just be evil. Anyway, on to REAL cryptocurrencies, and what distinguishes them from the hijacked version of Bitcoin, and what therefore makes them such a threat to that system, as well as the old currently imploding mainstream economic system, is precisely the fact that the transactional and settlement layers are not divorced. They are exactly the same thing. You cannot tamper with any part of the system, it is a steel cable from one participant in the economy to another, with each participant being able to cryptographically verify the characteristics of the transactions which they undertake, and observe that the supply is not being tampered with in real time on a globally distributed constantly available ledger, which in turn is not subject to interference from any of the traditional forces of monetary parasitism encompassed by central banks and nation states. It terrifies them exactly because it should, it is to nation states and central banking what uber is to cabs, what airbnb is to hotels, what any distributed impossible to control economy that only cares about actually accomplishing the goal for which it was created is to any sideshow which merely pretends to be the case, but is in fact some other thing like a passive income earning mechanism for taxi medallion holders, or owners of hotel chains, ad et al. Put simply, If real cryptocurrencies win, they will be out of a job permanently. So in conclusion, no. No matter what the final value of Bitcoin is, I don't see it as valuable, or as any kind of actual competition for real cryptocurrencies. I see it as an opportunity to ride the wave and profit simply by the unjustified expansion of value as the old system undergoes collapse and tries to cram as much of its ill gotten gains into this fake shambling zombie as it possibly can, with the added bonus that they seem not to realise, or have accepted as unavoidable, that they can't stop real crypto holders from taking the gains out of the dozens of liquid channels from BTC into those real cryptocurrencies that presently exist and will only grow in value over time. The end result in my view is that the implosion in the mainstream economy will merely echo up the chain and into the chamber of their Bitcoin golem, and all that will be left is actual cryptocurrencies, which will be "proper money" and anything less than that will be recognised for the fraud it is.
My Sister’s Health has Been Mysteriously Failing For Years, and I Think I Know Why [Part 2]
Part 1 here. Hello Reddit. I’m back with an update. I’ve been at Jesse’s since yesterday. We found some odd files on the hard drive. The files are almost exclusively videos, they last anywhere from six seconds to two hours. Jesse says that when he opened the drive, on a virtual machine inside a dummy computer of his, all the files were hidden even though the drive is full. He told me he revealed the files, and watched a few before calling me. When I arrived, he was trying to get into one of the worn old laptops. My heart was pounding when he sat me down at his desk with the dummy laptop to peruse the hard drive files. “Now, none of the videos are violent or abusive, so don’t worry about that.” He paused. “At least, none of the videos I’ve seen, I guess.” I nodded gravely and opened “My Computer”. The drive was titled “Paradise Land”, I stared at it for a moment before digging deep inside myself and clicking on it. An endless list of filenames appeared, starting with DCIM_081290.mp4. “Are you okay to go through this while I keep working on the laptop?” “Yeah, yeah you try to get into that.” I said, almost automatically. I was feeling numb, and beyond reality. Jesse gave me some earbuds and went over to the mess of cords and two computers on his bed, and I stared down the list of filenames. DCIM_092690.mp4, DCIM_102990.mp4, DCIM_010291.mp4: the filenames aren’t sequential and they seem like random numbers. Finally I flared my nostrils and clicked the first one. Jesse was right, it was just kids. Four children, probably five years old or younger, were playing in a sandbox. The footage was grainy and the colors slightly muted, like video captured on a cheap point-and-shoot. They shovelled, filled their buckets, wet the sand, made some sand castles, and played. All the things kids normally do in a sandbox. This clip went on for 15 minutes, and showed no more than the children playing continuously. The second clip I clicked on featured children in some communal playroom, like you might find at a church or daycare center. Probably twenty kids up to eight years old seemed to be readying the space for naptime, laying out blankets and pillows through the room about a foot apart. They smiled and joked, and dutifully but happily equipped the room for napping children. The video lasted about two minutes, ending before naptime began. This footage was also grainy and muted, as if it were shot by outdated tech. I was really confused. Why stock footage of children doing nothing? The third video featured again about twenty children up to eight years old, all walking down a forest path. They all walked in two lines on either side of a ten foot length of rope, each holding onto one of the maybe thirty loops tied into it. This was some sort of preschool walk trip, but there weren’t any adults visible. I assume it was an adult walking behind them and filming, but. . . . that almost made me feel worse. The fourth video I clicked opened with one small girl waving at the camera, in what looked like a preschool classroom. She was sat at one of the dozen desks, though she was alone in the room. Warbled infomercial music began to play, the camera zoomed out a bit and revealed some apparatus on her desk. A small dish, a knife, and an apple. Without words she began to present each item to the camera, then showed the viewer how to core an apple. She smiled at the camera but violently sawed into the apple with jerky movements. This unsettled me, and only went on for seven minutes. The next video showed kids about ten years old playing in the snow, working together to make a snowman. Then there was a video of a classroom full of kids quietly working at their desks, admirably focused on their work in a way that kids never are. The next video was another how-to with warbly infomercial music, where a child showed the camera how to make a papier-mache mask with newspaper, flour, a balloon, scissors, and some markers. Then a clip of two babies at the beach. I watched and skipped through about fifty videos before I took the earbuds out for a break. I texted my dad and let him know I was safe at Jesse’s, sleeping over. He replied and said he loves me. Jesse happily explained to me about how a virtual drillbit works but I could barely take it in. “Have you ever watched one of those youtube videos, ‘I ordered a mystery box from the dark web’?” He asked me. I said no, as I haven’t. I don’t know anything about the dark web. “Well,” he explained, “They sometimes get stuff like hard drives with weird shit on them. Maybe someone got this stuff in a dark web box and dumped it behind the library.” I entertained the idea and it almost felt real, like I didn’t steal these electronics from my older sister’s room. I went back to the videos: more videos of kids, playing in some fall leaves, babies in a playpen, toddlers in a small blow-up kiddie pool having fun. Nobody spoke in any videos, and there were never any adults shown. Just children. I started to watch one in every dozen videos, making my way down the list faster. Nothing changed stylistically from the other videos, and I was reeling with confusion. Then Jesse tapped me on the shoulder. He got into one of the laptops. I abandoned the hard drive with its weird, cult-like videos and joined him on the bed to see what was on the laptop. It seemed pretty bare, except for a single .txt file on the desktop. Jesse opened it, and it contained two onion links, which Jesse recognized for what they were. He quickly installed some safety measures, since this laptop was running on his family’s home internet, and pasted the first link into tor. I waited with bated breath. I’d never seen anything mysterious on the dark web, Jesse showed me how to watch Sailor Moon but this was the unknown. I hoped I was ready. The page that opened was colourful and polished. “Earn $500,000 fast! Your contribution is easy to make and you can start right now! No contribution rejected, going rates START at $500,000! Click now, learn how you can be set for LIFE with Paradise Land!” This was colorfully emblazoned across the green and gold background. The entire page was a link, which we guessed would be the second link in the notepad document so Jesse clicked it. This new page was stark and amateurish. In large, block, black font the page was titled “Paradise Land” just like the hard drive. In the center left was a video, the thumbnail said “Paradise Land”. I felt a heaviness creep into the pit of my stomach. The page featured no navigation whatsoever, just the off-center video on a glaring white screen. Jesse looked at me. “Are you ready to watch?” “Um, sure, I guess.” I wasn’t embarrassed by my hesitance. Jesse didn’t judge, either. He took a deep breath and clicked the triangle on the video thumbnail and made it full screen. The title filled the screen in muted purple bubble letters, and an animated sunrise cued the beginning of more warbly 80’s how-to video music. This quality was the worst yet, it looked like it was 144p from back in the day on youtube. A room faded into the shot, I squinted and it looked like maybe a doctor’s office. A man in a white lab coat entered the frame and waved jovially, greeting the viewers. At first I thought his face wasn’t moving, but I realized he was wearing a latex Ronald Reagan mask. I looked at Jesse. He looked at me, and we both turned back to the screen. “Welcome. You’re here because you are having a pregnancy crisis, or you need money.” The figure nodded empathetically and laced his fingers together at his waist. “My name is Doctor Gooderham. If you’re here, it’s because you’ve been directed from a pregnancy crisis link, or a link advertising a method to earn $500,000 US dollars in bitcoin. No matter why you are here, I and my team of associates, can help.” Again his body language displayed remarkable empathy, even obfuscated by the lost video quality. This was a man that someone in a desperate situation could trust. If it weren’t for that mask. That grinning mask. “Here at Paradise Land, a remote island whose location is of course undisclosed, our mission is to use a hidden reset button on humanity, and grow a new society from the ground up based on love, acceptance, kindness, purity, communication, and sound moral values. We believe that a colony of children reared outside of any current global influence can be shaped into the beautiful vision we have for the world, as newborn children are clean slates who will readily accept the doctrine of kindness and love.” He spoke tenderly like a father to his children, but it sent chills down my spine. Grain slid in repeating bars down the screen, and I watched the grinning mask explain that the Paradise Land organization would pay $500,000 US dollars to anyone worldwide who would give birth to an unregistered child in the presence of an organization member and allow that child to be taken to Paradise Land to become a member of the pure new society. He further explained that an organization member would be stationed in your city thirty days before your expected due date. They would be on call and ready at a moment’s notice to collect you and bring you to a comfortable hotel room with all necessary medical supplies to assist with the birthing process. I was shuddering. He said that then, the member would transfer the money, in bitcoin to you, you confirm it, and they leave with the child. Nobody ever knows that baby existed, and you never see them again. It chilled my belly. “If you wish to know more information about Paradise Land please contact the email address shown on your screen now.” On cue a line of text appeared on the bottom of the frame: [[email protected]](mailto:[email protected]). Jesse wrote it down. “We would happily send you literature and footage of children flourishing at Paradise Land. Your baby will be happier here, in a world of purity and happiness. And you will be set for life!” The man nodded and the music crescendoed, signaling the ending of the video. “Please, contact the email address. We will both be happier, if we work together.” The camera slowly panned back while he said this last urgent farewell, fading back out to white. I stared at the screen idiotically. Jesse just sat there and gave me my time to process it. I still can’t process it. My sister’s been selling babies. Babies! What the fuck! I’ve been so distraught about the idea of my little nieces and nephews being sold that I can’t even think straight. What the hell would Mel even do with that much money? How does she even know how to use bitcoin? In my distress I told Jesse everything, the truth about how I came across the laptops. I told him that “Paradise Land” seemed like a huge crock to me. “I know right. It’s too good to be true and the whole delivery is unnerving.” “Listen this had kind of been a lot so I’m gonna go crash on the couch now if that’s okay?” Jesse gave me my blankets and pillows and I got comfy on the couch. I didn’t expect to be able to sleep, so I started to play word games on my phone. I fell asleep with it in my hand and woke up that way. I called dad this morning and let him know I’d be coming home. He said Mel is still out, hasn’t been home yet. He sounds so worried. I feel so bad for him and I wish Mel would come home and stop this nonsense. So I walked back home and wrote what I can remember to update you guys. Thanks for all your comments, I feel like I’m not going through this alone. Jesse said he would try to get into the second laptop today, and also contact the email address. I don’t know if I even want him to. I’m still reeling from today’s discoveries. In fact, I’m exhausted. I’ll lie down for a nap and then see if Jesse got any results. If he does I’ll update you all tomorrow, if I can. Part 3 here
Porn and video games are replacing Christianity as the common language of American conservatives These are good: Vladimir Putin. White identity politics. Star Wars. Austrian free market economics. Donald Trump. LOLs. Bitcoin. Darwinism. Silicon Valley. Science and technology. Transhumanism. Pepe the Frog. These are bad: Islam. Feminism. Democracy. Black Lives Matter. The new Ghostbusters movie. Egalitarianism. Political correctness. God. Immigration. Hillary Clinton. Newspapers. Government. Academia. Liberalism. Welcome to the complicated world of the so-called alternative (or alt) right. Think Mein Kampf meets The Big Bang Theory. For years these socially dysfunctional millennials have sheltered behind their bedroom laptops, watching porn, sending abusive tweets (anonymously) and eating pizza in their underpants. Mainstream politics – both left and right – has previously ignored this developing phenomenon. But with Donald Trump they have found a champion who understands their anger. And they have become his digital vanguard. Tonight in Nevada, Hilary Clinton will give a major speech linking Trump to the alt right. And with this speech the alt right will further enter the political mainstream. One account of their rise to political significance cites the 2014 Gamergate controversy. This vicious internet culture war took place between those who were pressing for a more inclusive video gaming culture (more women, less violence) and those who reacted against what they saw as a humourless leftwing threat to their enjoyment of guns and boobs. These burgeoning alt right gamers have little in common with traditional Republican conservatives and their evangelical Christian values. They don’t go to church. Indeed, many are aggressively atheistic. Rather, they come together on blogs and online community forums like 4chan where they fulminate against social justice warriors – SJWs – who want to spoil their fun. They hate the liberal apparatus of the state, including the mainstream press and Ivy League academia that they collectively dub as The Cathedral. And they hate normies – normal people – and their repressive political philosophy, democracy. Instead of democracy, they propose that the US should be run like a large company with a CEO at its head, preferably one from Silicon Valley. Someone like PayPal founder Peter Thiel, whose views include : “I no longer believe that freedom and democracy are compatible.” But Trump will do for now. Oh, and only intelligent people should be in charge, and that means white people. “Ever since Mill wrote his response to Carlyle on The Negro Question, writers of the English Protestant tradition have been defending the blatantly theological position that ‘all men are created equal’,” wrote the computer programmer and alt-right hero Curtis Yarvin under his pen name Mencius Moldbug. He continued: “Note that exactly the same rhetorical strategy can prove the existence of God or the Flying Spaghetti Monster for that matter.” Traditional Republicans are now regularly dismissed by the revolting term cuckservatives – an insult first used by white supremacists of Christian conservatives who, they said, have allowed themselves to be cuckolded by racial minorities. They darkly summon the idea of interracial sex – a theme that was also an obsessive preoccupation of the KKK. And its meaning broadens out to refer to those who witness their country being taken away and don’t have the balls to do anything to stop it. That’s why they want a US version of Putin. Because they don’t think he would allow that to happen. Of course, racism has a long and inglorious history in US politics. But it now has a very new iteration in the nerdy tech-savvy generation of the alt right. Racism 2.0. They don’t speak of eugenics but rather of maintaining “human biodiversity”. And they have a thing about IQ tests showing that white people are cleverer than others. I know, we’ve heard all this crap many times before. But there is something new here. For in cross-pollinating with the anonymity and viciousness of the internet, with porn and video games replacing Christianity as the common language in which conservatives talk to each other, with openly anti-democratic impulses being justified as rationality, the virus of racism is capable of spreading as never before. The age of the Christian right is over. And something worse is set to take its place. @giles_fraser
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07-11 19:53 - 'Why bitcoin will fail. Why bitcoin will succeed.' (self.Bitcoin) by /u/kwanijml removed from /r/Bitcoin within 690-700min
''' So we've all been blasted incessantly with the now age-old tirade (and variants) about how "bitcoin is pure speculation", "will be curbed or shutdown by government as soon as they feel so inclined", and my favorite; "anyone can create a new cryptocurrency, so that means they won't be worth anything". I was recently responding to one such bad argument in /economics and thought I'd just post it here as well, to maybe help a few people better understand the macro forces at play, and maybe pair these ideas with hardespecific evidence as it pertains in your future discussions with skeptics and detractors: Money (or a proto-money like bitcoin) is a network good: i.e. its value, in aggregate and each share of a homogeneous unit, is derived from positive network externalities. Not some utility of the token itself. Or to state it another way: the size of the network of available trading partners with which you can alleviate the inefficiencies of barter and communal credit systems, and thus take maximum advantage of the division of labor. This idea that speculation for speculation-sake (i.e. a game of musical chairs or last-one-holding-the-bag) is the only or primary factor in play, which causes the trading and use of bitcoin to persist, is simply juvenile and would almost necessarily require that at the very first bust (after the boom) that the coin goes to a price of zero, or at least down to some negligible price which reflects its value in a non-network-good-sense; such as numismatic or curiosity value, or as a smart-contract token for cryptokiddies games or something like that. And this view simply doesn't hold up to the theoretical scrutiny or empirical reality. Bitcoin has continued to spike and "crash" (almost a half-dozen times now with at least the relative magnitude of the most recent bubble and bust)...and yet so far, consistently finds support after each next crash, higher than the previous all-time high price. Nobody continually speculates on speculation...there are plenty of "greater fools" each run up, no doubt, but there are also many many of the repeat, usual suspects; continuing to trade and to build the ecosystem. What's going on here is not just speculation on other people speculating...it is entrepreneurial foresight in speculating- speculation on the likelihood of and evidence for the growth in the network effect surrounding the token (i.e. how money-like is bitcoin becoming? How valuable could it be as a full unit-of-account money?). Because this is a decentralized, bottom-up process, (there is no boss, no owner, no ruler or government; you either trust/accept the rules of the protocol or you don't participate) some market failures or coordination problems stand in the way of this actualization of bitcoin as money coming to fruition smoothly or maybe at all (hence some validation of the "state theory of money" and the usefulness of the tax-demand-sink which fiat currencies enjoy). But present government policies and the incumbency of the national fiat monies, also present additional challenges, which are likely responsible for keeping bitcoin from gaining as much traction as it otherwise could (tons of persecution of otherwise legitimate crypto-on-ramps under the auspices of AML/KYC laws, the fact that most tax authorities in the developed world treat crypto as a capital good: thus nobody can possibly even legally use a cryptocoin as an every-day spending/earning money, because the tracking and reporting for it are just far too onerous, and many many more direct and indirect ways). To 1st-world perceptions, its understandable why a lot of people not only feel like they don't get what the utility of bitcoin is now, but also don't see it having a future (thus, pure speculation appears to them to be the obvious driver of the price patterns)...but once you remember and look at how a large percentage of the world does not enjoy stable money, fair or even tolerable governments, ways to escape high inflation and capital controls, accessible banking, and cheap payments (especially for international remittance)...then in comparison, even volatile bitcoin starts to look pretty good. And that fact alone, plus the fact that bitcoin ever even developed an exchange price and continues to exist 10 years later, is pretty freaking amazing...amazing accomplishment for some anonymous crypto-anarchist(s) and an initial cohort of cypherpunks and geeks; almost doesn't make sense...until you understand how ripe the world economy is for a non-state money. For competition. For real accountability (which even democracy often doesn't adequately provide). Additionally, it doesn't really take too much creativity or foresight, to see and understand that even our "good" governments and their currencies and banking controls, are getting more and more draconian, restrictive, and panopticon-like...so that as bitcoin grows in network effect and liquidity and price stability...it might one day even start to look pretty decent in comparison to the dollar, euro, and yen. It doesn't take a huge stretch of reason, to understand that a lot of people are a lot more (small 'l') libertarian than skeptics and detractors assume, and desperately care about making institutions as voluntary and competitive as possible; and that this is not something which is or will be achievable through government or political channels; that government accountability must be imposed by de facto competition...even competition in monies; and that, is the point of, and one of the major present and future sources of value of cryptocurrencies like bitcoin. Anyone can (and always could) create new currencies...this doesn't and never did create inflation or dilute value, or any such nonsense. Because what is not trivial to create is network effect. And network effect (not even taxes or the "full faith and credit" of your country) is what primarily informs price and drives the value and stability of even your national currency. The ability to achieve position as unit-of-account carries massive social and economic inertia with it...and that inertia then even ends up moving politics and forces liberalization. Yes, because bitcoin is a network good, the U.S. or other governments could crack down on its use (a lot more effectively so than say, narcotics, which are valued and valuable to the user independent of anyone else using or trading with that good) and virtually destroy its present market and market share. But keep some things in mind: 1. To do so, they would have to massively inconvenience or put a dragnet over other, much more widely-used goods (like the internet or parts of it) which would not sit well with the masses, who don't even care about bitcoin. Many/most busines could be tracked and prevented from using crypto via the tax/reporting apparatus...but the informal/cash/black/grey and online economy is already so huge, even just inside the u.s., that if bitcoin were to even become the currency of choice for a large share of just this, it would significantly increase bitcoin's usage from the present, and the price would rise and stability would increase; despite it being kept completely out of the formal economy. 2. The U.S is not the only country on earth! And bitcoin is especially good at silently passing through international boundaries. ''' Why bitcoin will fail. Why bitcoin will succeed. Go1dfish undelete link unreddit undelete link Author: kwanijml
14 Things We Learned Creating a Million Dollar Hyperdeflationary Currency (DRAFT)
Four months ago we made a reddit post announcing a social experiment to create a “self-destructing currency” called BOMB. The reactions were polarizing, to say the least: Some comments were positive
A currency that no one wants to spend but everyone wants to have would result in an ever growing value. However, it might only be on paper because no one wants to spend it. I wonder what will happen. I really hope this gains popularity, very interesting.
The reaction of the events over the next months took us down a winding road of adventure and a fair share of heart attacks. One day we would get an endorphin rush after the co-creator of the #OccupyWallStreet movement wrote an article; the next day we would find a major vulnerability in the code that would literally cause us to re-issue tokens. Through it all, the journey has been a rewarding one, and we learned a lot along the way. Here are the top 14 things we learned while creating a million dollar hyper deflationary currency.
1) A Deflationary Asset Can Survive... So Far At Least.
One of the biggest things we wanted to learn when starting the social experiment was to ask:
The blockchain industry consists of some of the most talented technical and visionary minds in the world. However, despite this, most average consumers haven’t experienced a blockchain application or used the currencies built on top of it. While there is still plenty of time for true mass adoption to occur, it has become clear that the amount of technical value being developed is not equating to the amount of activity or users. We believe this is not for lack of building, but for lack of storytelling and communication. Average consumers don’t resonate with technological features, they resonate with the stories and the advantages within a solution. Bitcoin, the most successful cryptocurrency to date, has one of the best stories behind it. An anonymous and mystical figure behind the name of Satoshi Nakamoto took his passion and pain from the financial crisis of 2008 to create a better solution. The building behind BOMB wasn’t intensive or complex at all, just a few dozen lines of code in solidity. But that wasn’t our story. Our story was our journey and social experimentation of a deflationary currency. That is why people joined, and this is what keeps people intrigued still to this day.
3) Hodling is Still Alive & Kicking
Despite the average airdrop value sitting over $200 per participant, 84.5% of people have not touched or moved their BOMB. Out of 3073 current addresses, 2604 people would rather hold than sell their BOMB.
4) The Cryptocurrency Industry is Skeptical by Default
Despite giving away all our tokens for free and answering questions as transparently as possible, the default response was skepticism; and rightfully so. Despite over $13,000,000,000 in public capital allocated to the decentralized world in the first half of 2018 alone, over 1000 projects are now dead. Many of the people who joined the industry joined during this time and still feel the resentment to this day. While it will probably take many years to overcome this skepticism, and may never go away, we learned it is important to take every comment and negative remark in stride. Some are valid concerns, but a majority aren’t actually mad or disgruntled with you, but at the industry as a whole.
5) Going from 0 to 1 is 10x harder than 1 to 10
Like most projects, when we started, our followers and community count started at zero. During the first few weeks of sharing the story of BOMB with a few friends, the growth was extremely slow (relative to what it is today) at maybe 1–5 people per day. Nobody wants to be the first to the party. When you’re walking down the street, everyone assumes the crowded bar is better than the empty bar. The one thing you can do to overcome this early stage is making your early adopters feel like absolute VIPs. More than the early adopters getting more free tokens than everyone else, myself and the co-creators spent endless hours on telegram talking with each and every single person who joined. There was not a lost soul who wandered into our group that didn’t get an overly ambitious introduction. This is the core and foundation that will set everything in motion. While I no longer introduce myself to every new person to the group, our community does, and its an amazing feeling.
6) Clear & Concise Communication is Everything
When I first started telling my friends about BOMB, the natural response was “What else does it do?” We as humans have a natural instinct to think more is better. Many founders start with a very clear mission to create something like a comfortable chair but they end up explaining their product as an “Anti-Gravitational Sitting Apparatus to Disrupt the Entire Furniture Industry with Built-in LED Lights and Omni-Rocking Functionality” The problem is when we try to communicate this vision to the world, our vision becomes convoluted and messy. The most successful projects to date consist of the ones doing one thing better than anyone else. When people explain what BOMB is, they explain it very clearly and concisely: A deflationary currency. When people explain how BOMB works, they easily recall and reference the three rules of the currency as stated above.
7) Transparently Bad News is Better than No News
The biggest “OH SNAP” moment for BOMB occurred in February, just a few weeks after airdropping our creation to the world. A community member following the project found an error on the code that could open up the currency to exploitation in the future. Rather than attempting to hide the situation, we made a medium post to explain the situation and news to the community. Just a few weeks ago, many of our community members began to get anxious about a potential exchange listing that was taking longer than expected. While frustrating to take criticism for items we couldn’t control, we wrote a 19 thread tweet storm titled “Transparency Update”. Despite the negative news, the community loved it and felt closer to the project than ever. People many times don’t mind what happened, as long as they understand why you did it, and the reasoning behind it. Yes, there will always be that 10% that won’t accept your answer. But the people who truly care about your vision and value will stick with you. Those are the people who matter.
8) You Don’t Need to Spend $25,000 on an Exchange
Getting on an exchange after raising zero capital was definitely hard. We made a commitment early on that we would never ask our community for money, so everything we did had to be extremely scrappy and resourceful. To help get us off the ground, a few of our early members kept talking about a community/technology called ParJar. In short, this was a telegram bot we could implement that allowed our community to openly trade BOMB instantly and feeless whenever they wanted. There are a lot of items that helped us build our community, but we believe ParJar gave us more native engagement than any other campaign we have done. This organic incentivization ecosystem for individuals to exchange assets was and continues to be the backbone and foundation for our growth.
9) Not All Exchanges Are Created Equal
Even at the peak of the bear market, exchanges attempted to charge anywhere between $20,000 and $250,000; and those were the low-level ones. We definitely couldn’t afford this. After doing more research, we narrowed down our goals with exchanges and what we were trying to accomplish. While many projects immediately want to get on the “bigger volume” markets, research showed there were only a handful of exchanges that had real volume. The rest were doing a lot of wash trading. Instead of going after the top level exchanges, we focused on connecting with other respected and up-and-coming exchanges that would be willing to work with us on integration. The deflationary features inside our contract make us incompatible with many exchanges. This was a full-time job in itself. After many months of searching, we were able to really connect with the team at DDEX (an exchange that is venture backed by reddit’s co-founder) that saw the potential in BOMB and took a chance on us.
10) Liquidity Premium is a Real Thing
While I have heard the term ‘Liquidity Premium’ before, I didn’t quite know how this would impact a deflationary currency. In short, a liquidity premium occurs when something costs more/less because it has high/low liquidity. The best way for me to think of this is a house. Although houses are valuable, they many times take months to be sold or liquidated for cash. Because of this, prices can be up to 20–30% lower than it would be if it were liquid. In relation to BOMB, our goal from the beginning was to decrease token velocity as much as possible. The side effect of this was low liquidity. As soon as we reached Mercatox (a centralized exchange that didn’t burn the tokens) BOMB value increased by nearly 25–50% overnight. Of course, we can probably attribute some of this to new eyeballs and demand, but it has been interesting to watch the arbitrage between a DEX (burns BOMB) and a CEX (doesn’t burn BOMB). Price After Mercatox Listing
11) The Market Decides Value, Not the Founders
One of the biggest questions we got in the early days was:
How much are BOMB worth?
When we explained that the tokens were being given away for free, many equated this to no value. In traditional coins or tokens, the value is determined (or at least decided) by the founders at the price they are willing to sell them at. If XYZ project decides to launch an ICO and sell them at $1, that is the given “value” of the token. The problem with this premise is that this initial value is completely arbitrary and theoretical until it can be actively traded. I can attempt to sell my car for $250,000, but if the market will only pay me $250, that’s what its worth. If we learned one thing from the 2018 bear market, its that the founder’s of projects are very bad at knowing the intrinsic value of their own tokens; many times 90–99% off. Rather than giving our token an arbitrary number, we gave every single token away for free and let the world decide its value.
12) Capital is a Luxury, Not a Necessity
In the startup world, people many times reference the Lean Startup approach. The premise is pretty simple, get your idea into the world for as little amount of money as possible, and see if the world is willing to give it value. In the cryptocurrency world, everything seems to be backward. Cryptocurrencies spend months planning an ICO, then another few years developing a project, only to find out if their idea is worth building. Millions of dollars are spent on the building before confirming the demand. IF you truly believe you have an idea that people want or need, and IF you are willing/able to build an MVP first, and IF you want to build a community fueled project; give a portion away for free and let the market decide your fate. Then, if the market gives it a thumbs up, you have some liquid capital to build your grand vision; all while raising zero capital.
13) Code is Replicable, Community is Not
One mission of BOMB from the beginning was to hopefully provide a financial case study for other people to learn from and implement into their own tokenomic structure. We anticipated and expected others to do this. But, what we did not expect is the number of exact copy cats that would arise of the first weeks. At this time on Etherscan, there are more than five other replicas of BOMB that people created. While we were originally discouraged at others attempting to directly imitate our project, we quickly learned that what made BOMB special was no the code, but the community of people around what we were creating. You can copy code, but you can’t copy a community.
14) People Who Truly Believe in Something Will Go Above and Beyond
To this day, we haven’t paid anything beyond a few #BombUp rewards to our community. And yet, they do some of the most creative, amazing, and impressive creations we could have ever asked for. Report: An in-depth financial and data-driven report on BOMB explosions, price, and analytics trends. Art: Everything from designs to stickers for the community to use and play with. Bomb Up: A community member-run group that gives away BOMB every day for playing telegram games. Articles: Some of the most passionate people writing in-depth articles about the project. Languages: Alternative languages that wanted to discuss BOMB in Russian and German.
There is no doubt that to some, BOMB will be nothing more than a meme coin, and we are okay with that. One of the most fascinating parts of this experiment has been watching our original meaning, goal, and vision of BOMB change and evolve for other people over time. Instead of attempting to control the dialogue, we let the community interpret the project in whatever way they want. This individual empowerment has truly given the currency a life of its own and the amount of fun, insight, and overall awesome people we have been able to connect within our short lifespan has been nothing short of amazing. At the current rate of deflation, if the current pace stays constant the last BOMB is expected o be destroyed by 2031. BombLytics Bot _______________________________________________ If you would prefer reading or sharing this story through a medium format,here is the link.
https://preview.redd.it/6n0nngs2ulv21.jpg?width=390&format=pjpg&auto=webp&s=74efd8f5e8724c111f9892321180571aa7de9025 About MinedBlock MinedBlock gives mining organizations as a thing where the firm arrangements with all the apparatus and ensures that they are working in a perfect world for the length of the day with low working costs and high capability. This crypto mining firm can give this element of diligent work as they will dispatch a mining office that underlines on mining the top altcoins by market capitalization to guarantee a wide extent of pay streams for clients. Using this broad scale mining task, MinedBlock will help with improving the decentralization of altcoins and moreover redesign its own one of a kind decentralization by methods for the worldwide movement of server ranches. MinedBlock offers the open entryway for theorists to misuse using the advantages from a gigantic scale mining action, mining various crypto assets without the need to buy, mastermind and keep up exorbitant mining equipment. The mindblock Mission "Our vision is to transformed into an important player in the advanced cash field and for MinedBlock to have a basic bit of the system required to process trades and mint new crypto assets. This will enable our theorists to secure a tremendous rate of productivity while we use a compelling improvement technique to position ourselves as the 'Amazon' of the crypto mining industry" What MinedBlock Proposes A key principle that is driving MinedBlock is ensuring that clients get the most extraordinary components of straightforwardness. From this time forward, the firm will be totally open with respect to their game plans, salary age, and nonstop mining advancement. Like dashboards and minute updates will be used to show the latest hash rates in general advanced types of cash being mined similarly as foreseen earnings with MBTX tokens. MinedBlock is furthermore devoted to trim its mining adventures around customer analysis, which MBTX Token The utility token, MBTX, will be sold in the midst of the ICO to dispatch the MinedBlock organization. This token will go about as the key for getting to and paying for MinedBlock organizations. Nevertheless, the gathering rushed to take note of that they wear various any affirmation or certification on the future esteem capacity of this non-mintable ERC-20 token. Mining Strategy MinedBlock will ceaselessly screen mining activities and switch between altcoins when the accomplishment rate and inconvenience differ. The conceivable target will keep up the most extraordinary efficiency in the midst of their errands to manufacture advantages and farthest point resource wastage. The firm will in like manner choose if using existing mining pools or depending without any other individual hash rate will convey the best yield. Concerning, Mineblock will pass on a mix of revamping GPU mining units close by ASIC rigs. All mining hardware will be displaced and traded as frequently as would be prudent while using particular ASIC suppliers to avoid any centralization and moreover to redesign the conventional assortment of clients. For the region, air and power costs are basic considerations near to the political social occasion of the encouraging country. The primary mining farm will use ASIC BCH and bitcoin mining units and it will be encouraged in an Iceland office where the power expenses and air are precious. Meanwhile, the GPU contraptions will be set up in the UK at first, before being transported to workplaces in either Canada, Sweden or Iceland. Token Model - The mindblock Dual Token Model MinedBlock uses two particular tokens in our movement model which is contained a Security Token enabling a simple income and a Utility Token which engages access to remuneration as you go mining organization. More Details beneath: ICO Details Token: MBTX Platform: Ethereum Total token supply: 400 million Accepted currencies: BCH, LTC, USD, ETH, and BTC Minimum investment: $300 Token Distribution We don't have a Cap on a most extreme supply at this stage. The idea of the task is with the end goal that the more prominent the number of tokens sold the bigger the underlying administration will be along these lines it is in all gatherings intrigue not to confine the most extreme probability. Tokens will be Disseminated as Underneath: Referral bounty: 1.5 million Free airdrops: 5 million Retained tokens for future company incentives: 13.5 million Founders: 15 million Public sale: 365 million Distribution of ICO Funding Mining equipment; 80% Datacenter build: 10% Reserve: 10% Revenue Distribution Distributed to MBTX holders: 75% Expansion costs: 10% Operational expenses: 10% MBTX buyback: 5% Roadmap2018 Q1 Project Concept Defined Q2 Company Registration Team Formed Original Whitepaper Written Q3 ICO Presale Begin Q4 ICO Halted – Changed to STO Whitepaper Version 3 Airdrop & Bounties Ended SEC Exemption Filed 2019Q1 Security Token Offering Starts Q2 Security Token Offering Ends Data Centre Build Begins Hardware Ordered Q3 Mining Starts First Dividends Paid Exchange Listings Q4 Mining Expansion starts Investor Dashboard Launched 2020Q1 Solar Farm Location Search Design of Solar Facilities Q2 Application for Solar Development Permission Solar Funding Round Q3 Solar Farm Build Planning for second Mining Farm Location Q4 Second Mining Farm Build The MinedBlock Team MembersFounding Team Advisors -Paul Bishop Co-Founder & COOGreg Wales Co-Founder & CEOKamal Mustafa Advisor Ruhin Khan Marketing ConsultantMatt Ruff CSOFor more information, please visit the following links: Website: https://www.minedblock.io/ Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdfBountyOx username: cryptounique
Is there a one stop shop on the dark web to get everything I need sent mailed safely to my house?
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