51% attack - Bitcoin Wiki

Official ColossusXT Q3 2020 AMA

Official ColossusXT Q3 2020 AMA
Welcome to the 11th official ColossusXT AMA! It has been an exciting year so far as we move closer to the launch of the Colossus Grid, and it's been interesting to see how COVID19 is affecting the world and the industry. The commitment to ColossusXT has never been stronger as we navigate these uncertain times due to COVID19. I will briefly go over development and business activities and if you have any additional questions about anything mentioned please drop a question in this AMA.
[DEV] As we move forward through Q3 the first thing you can expect is a mandatory wallet update in the coming weeks, this wallet update will allow you to convert your zCOLX back into COLX, along with some other notable features that we will dive into to discuss once the wallet is released. We're getting closer and closer to Armis release and the Colossus Grid release, which will prove to be an exciting time for the community to participate in testing and/or marketing activities.
[BIZ] We recently submitted a Project Pitch regarding ColossusXT to the National Science Foundation and have been invited to submit a full proposal. Should our proposal be accepted by the National Science Foundation we will be awarded 256,000 dollars for additional ColossusXT development, and continue onto Phase 2 proposals which will open up additional opportunities for ColossusXT research partnerships and additional funding opportunities.

https://preview.redd.it/gvypc52tjcm51.png?width=682&format=png&auto=webp&s=35af9143dea8f2294dc8c4c799810cee4add6e47
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This AMA will start on 10 September and end on 30 September.
The team will review and answer your questions no later than 14 October.
Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.
Rules:
Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.
Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX) and a ColossusXT T-Shirt!

https://preview.redd.it/cz6lixhzicm51.png?width=800&format=png&auto=webp&s=30ec43751a5556d11c5f26c3f7ab4a044494c73e

Processing img imldoefxgkm51...
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About ColossusXT (COLX):
ColossusXT is an open-source, community-driven, environmentally conscious cryptocurrency, and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government-controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as a long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
The question format can be seen below:
-----------------------------------------------------------
Q: What is the Colossus Grid?
-----------------------------------------------------------
A: ColossusXT is an anonymous blockchain through obfuscation, along with the utilization of Armis (I2P). These features will protect end-user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end-users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
-----------------------------------------------------------------------------------------------------------
Q: Why does your blockchain exist and what makes it unique?
-----------------------------------------------------------------------------------------------------------
A: ColossusXT exists to provide an energy-efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have one layer of privacy. ColossusXT and the Colossus Grid will utilize two layers of privacy through obfuscation, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video, and audio streams-all will be reborn as services that live in cyberspace, assembling, and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
---------------------------------------------------------------------------------
Follow ColossusXT on:
Twitter
Facebook
Telegram
Discord
Forums
---------------------------------------------------------------------------------
Interested in joining the ColossusXT team?
Contribute to an Idea!
---------------------------------------------------------------------------------
AMA History:
2018 Q1 2018 Q2 2018 Q3 2018 Q4
2019 Q1 2019 Q2 2019 Q3 2019 Q4
2020 Q1 2020 Q2
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Official ColossusXT Q2 2020 AMA!

Official ColossusXT Q2 2020 AMA!
Welcome to the 10th official ColossusXT AMA! As we move into the 2nd half of 2020 we can look back and see how blockchain as a whole is moving forward, and we've seen how COVID-19 has affected the world globally. It's been interesting to hear from the community how it has affected everyone all over the world. Certainly ColossusXT has been affected along with many other blockchain projects, but since the entire team has been working remotely from all of the world from the start, the affect directly to us has been minimal.
Moving forward into 2020 we will be updating the roadmap, providing more social activities for the community to participate in, as many have participated in the Armis beta, and helping us resolve some bugs within the mobile wallet which is back up and running thanks to many of the dedicated community members. We will be listed on tokens.net, and will continue to bring alternative trading opportunities to the community, if there are certain exchanges you're interested in please don't hesitate to shout them at us here, and shout ColossusXT #COLX $COLX on social media. 2020 is sure to be an exciting year and we look forward to your questions. This is your opportunity to publicly gripe at us, or ask us any direct question about development, business, and/or financial progress of ColossusXT and the Colossus Grid.

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This AMA will start on 10 June and end on 30 June.
The team will review and answer your questions no later than 10 July.
Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.
Rules:
Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.
Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX) and a ColossusXT T-Shirt!

ColossusXT (COLX) Ask Me Anything

ColossusXT AMA Shirt
-----------------------------------------------------------------------------------------------------------------------------------------------------
About ColossusXT (COLX):
ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
Question format can be seen below:
-----------------------------------------------------------
Q: What is the Colossus Grid?
-----------------------------------------------------------
A: ColossusXT is an anonymous blockchain through obfuscation, along with utilization of Armis (I2P). These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
-----------------------------------------------------------------------------------------------------------
Q: Why does your blockchain exist and what makes it unique?
-----------------------------------------------------------------------------------------------------------
A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through obfuscation, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
---------------------------------------------------------------------------------
Follow ColossusXT on:
Twitter
Facebook
Telegram
Discord
Forums
---------------------------------------------------------------------------------
Interested in joining the ColossusXT team?
Contribute an Idea!
---------------------------------------------------------------------------------
AMA History:
2018 Q1 2018 Q2 2018 Q3 2018 Q4
2019 Q1 2019 Q2 2019 Q3 2019 Q4
2020 Q1
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Official Q1 2020 ColossusXT AMA

Official Q1 2020 ColossusXT AMA

Welcome to the 9th official ColossusXT AMA!

Welcome to the 9th official ColossusXT AMA! We're excited to move through the year and into the second quarter of 2020. The cryptocurrency/blockchain industry continues to grow and expand through many partnerships and it's quite an exciting time to be apart of this industry. As we move forward with ColossusXT through 2020 we will be implementing Armis (layer 1), replacing our previous (layer 2) privacy feature (Zerocoin) with another (layer 2) privacy feature that we will discuss and outline with community in the coming months. As these features are laid we will then begin to bring the Colossus Grid into forefront for the ColossusXT community, this is a massive task and being the ColossusXT team is much smaller and consists of volunteers we plan to roll this out in two stages.
  1. Cloud Storage
  2. Cloud Computing
We're excited to be moving forward with these huge steps for the ColossusXT community in 2020 and look forward to bringing the future of supercomputing and could storage to the front line of the blockchain industry. As we maintain the status of one of the few privacy blockchains registered and operating within the United States, we are making very strategic decisions as the laws, rules and regulations for blockchain are still being written and determined. We are working closely with our legal team as we move forward with each and every phase to navigate through our development.
Now, onto the AMA! We love to hear from the community, and value the opportunity to have these AMA's every quarter. If you have any questions, gripes, concerns, or advice this is the place to share it; you may also find us in or social channels listed at the bottom of this post, but as you continue reading you'll see that one person who asks a question in the AMA will be awarded 100,000 COLX! Goodluck, and we look forward to hearing from you!
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This AMA will start on 10 March and end on 31 March.
The team will review and answer your questions no later than 10 April.
Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.
Rules:
Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.
Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX).

https://preview.redd.it/kqi138o3iul41.png?width=777&format=png&auto=webp&s=0b5eb4e3c00189999667960164f9ce3b42af056d
-----------------------------------------------------------------------------------------------------------------------------------------------------
About ColossusXT (COLX):
ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
Question format can be seen below:
-----------------------------------------------------------
Q: What is the Colossus Grid?
-----------------------------------------------------------
A: ColossusXT is an anonymous blockchain through obfuscation, along with utilization of Armis (I2P). These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
-----------------------------------------------------------------------------------------------------------
Q: Why does your blockchain exist and what makes it unique?
-----------------------------------------------------------------------------------------------------------
A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through obfuscation, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
---------------------------------------------------------------------------------
Follow ColossusXT on:
Twitter
Facebook
Telegram
Discord
Forums
---------------------------------------------------------------------------------
Interested in joining the ColossusXT team?
Contribute an Idea!
---------------------------------------------------------------------------------
AMA History:
2018 Q1
2018 Q2
2018 Q3
2018 Q4
2019 Q1
2019 Q2
2019 Q3
2019 Q4
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Official Q4 2019 ColossusXT AMA!

Official Q4 2019 ColossusXT AMA!

Welcome to the 8th official ColossusXT AMA!

Another year comes to an end as we close out our journey through 2019 and begin to enter the 2020 arena. As a community we've had some high's and some low's throughout 2019, but we have continued our perseverance as we've seen many projects and exchanges tumble or falter along the way. Speaking with the community members through social media channels offer the team great opportunities to hear feedback, gripes, ideas and directions directly from the community. We strive always be available to you in these platforms in a timely manner, so at the end of every quarter we host an online AMA on Reddit. This AMA will start on 10 December and end on 31 December.
The team will review and answer your questions within the first week of January 2020.
Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.
Rules:
Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.
Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX).

Q4 2019 AMA Contest!

About ColossusXT (COLX):

ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
Question format can be seen below:
-----------------------------------------------------------
Q: What is the Colossus Grid?
-----------------------------------------------------------
A: ColossusXT is an anonymous blockchain through obfuscation. Zerocoin Protocol, along with utilization of I2P. These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
-----------------------------------------------------------------------------------------------------------
Q: Why does your blockchain exist and what makes it unique?
-----------------------------------------------------------------------------------------------------------
A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through obfuscation, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Important Information:

Website
Whitepaper
Roadmap
Wiki
Governance
Partners
GitHub
---------------------------------------------------------------------------------

Follow ColossusXT on:

Twitter
Facebook
Telegram
Discord
Forums
---------------------------------------------------------------------------------
Interested in joining the ColossusXT team?
Contribute an Idea!
---------------------------------------------------------------------------------

AMA History:

2018 Q1
2018 Q2
2018 Q3
2018 Q4
2019 Q1
2019 Q2
2019 Q3
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

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

03/Jan/2009
10 Minutes
10,000 BTC Pizza
2016 Blocks
21 Million
210,000 Blocks
51% Attack
Address
Altcoin
Antonopoulos
Asic
Asic Boost
Base58
Batching
Bech32
Bit
Bitcoin Cash
Bitcoin Improvement Proposal (BIP)
Bitcoin SV
Bitmain
Block
Block height
Block reward
Blockchain
Blockexplorer
Bloom Filter
Brain Wallet
Buidl
Change Address
Child pays for parent (CPFP)
Coinbase (not the exchange)
CoinJoin
Coinmarketcap (CMC)
Colored Coin
Confirmation
Consensus
Custodial Wallet
Craig Wright
David Kleinman
Difficulty
Difficulty adjustment
Difficulty Target
Dogecoin
Dorian Nakamoto
Double spend
Elliptic Curve Digital Signature Algorithm (ECDSA)
Ethereum
Faketoshi
Fork
Full Node
Gavin Andresen
Genesis Block
Getting goxed
Halving
Hard Fork
Hardware Wallet
Hash
Hashing
Hierarchical Deterministic (HD) Wallet
Hodl
Hot Wallet
Initial Coin Offering (ICO)
Initial Exchange Offering (IEO)
Ledger
Light Node
Lightning
Litecoin
Locktime
Mainnet
Malleability
Master Private Key
Master Public Key
Master Seed
mBTC
Mempool
Merkle Tree
Mining
Mining Farm
Mining Pool
Mixing
MtGox
Multisig
Nonce
Not your keys,...
Opcode
Orphan block
P2PKH
P2SH
Paper Wallet
Peers
Pieter Wuille
Premining
Private key
Proof of Stake (PoS)
Proof of Work (PoW)
Pruning
Public key
Pump'n'Dump
Replace by Fee (RBF)
Ripemd160
Roger Ver
sat
Satoshi Nakamoto
Schnorr Signatures
Script
Segregated Witness (Segwit)
Sha256
Shitcoin
Sidechain
Signature
Signing
Simplified Payment Verification (SPV)
Smart Contract
Soft Fork
Stratum
Syncing
Testnet
Transaction
Transaction Fees
TransactionId (Txid)
Trezor
User Activated Soft Fork (UASF)
Utxo
Wallet Import Format (WIF)
Watch-Only Address
Whitepaper
List obviously not complete. Suggestions appreciated.
Refs:
https://bitcoin.org/en/developer-glossary https://en.bitcoin.it/wiki/Main_Page https://www.youtube.com/channel/UCgo7FCCPuylVk4luP3JAgVw https://www.youtube.com/useaantonop
submitted by PolaT1x to Bitcoin [link] [comments]

Constructing an Opt-In alternative reward for securing the blockchain

Since a keyboard with a monero logo got upvoted to the top I realized I should post various thoughts I have and generate some discussion. I hope others do the same.
Monero is currently secured by a dwindling block reward. There is a chance that the tail emission reward + transaction fees to secure the blockchain could become insufficient and allow for a scenario where it is profitable for someone to execute a 51% attack.
To understand this issue better, read this:
In Game Theory, Tragedy of the Commons is a market failure scenario where a common good is produced in lower quantities than the public desires, or consumed in greater quantities than desired. One example is pollution - it is in the public's best interest not to pollute, but every individual has incentive to pollute (e.g. because burning fossil fuel is cheap, and individually each consumer doesn't affect the environment much). The relevance to Bitcoin is a hypothetical market failure that might happen in the far future when the block reward from mining drops near zero. In the current Bitcoin design, the only fees miners earn at this time are Transaction fees. Miners will accept transactions with any fees (because the marginal cost of including them is minimal) and users will pay lower and lower fees (in the order of satoshis). It is possible that the honest miners will be under-incentivized, and that too few miners will mine, resulting in lower difficulty than what the public desires. This might mean various 51% attacks will happen frequently, and the Bitcoin will not function correctly. The Bitcoin protocol can be altered to combat this problem - one proposed solution is Dominant Assurance Contracts. Another more radical proposal (in the sense that the required change won't be accepted by most bitcoiners) is to have a perpetual reward that is constant in proportion to the monetary base. That can be achieved in two ways. An ever increasing reward (inflatacoin/expocoin) or a constant reward plus a demurrage fee in all funds that caps the monetary base (freicoin). This scenario was discussed on several threads: - Tragedy of the Commons - Disturbingly low future difficulty equilibrium https://bitcointalk.org/index.php?topic=6284.0 - Stack Exchange http://bitcoin.stackexchange.com/questions/3111/will-bitcoin-suffer-from-a-mining-tragedy-of-the-commons-when-mining-fees-drop-t Currently there is no consensus whether this problem is real, and if so, what is the best solution. 
Source: https://en.bitcoin.it/wiki/Tragedy_of_the_Commons

I suspect that least contentious solution to it is not to change code, emission or artificially increase fees (which would actually undermine the tail emission and lead to other problems, I believe: https://freedom-to-tinker.com/2016/10/21/bitcoin-is-unstable-without-the-block-reward/) but rather use a Dominant Assurance Contract that makes it rational for those who benefit from Monero to contribute to the block reward.

Dominant assurance contracts
Dominant assurance contracts, created by Alex Tabarrok, involve an extra component, an entrepreneur who profits when the quorum is reached and pays the signors extra if it is not. If the quorum is not formed, the signors do not pay their share and indeed actively profit from having participated since they keep the money the entrepreneur paid them. Conversely, if the quorum succeeds, the entrepreneur is compensated for taking the risk of the quorum failing. Thus, a player will benefit whether or not the quorum succeeds; if it fails he reaps a monetary return, and if it succeeds, he pays only a small amount more than under an assurance contract, and the public good will be provided.
Tabarrok asserts that this creates a dominant strategy) of participation for all players. Because all players will calculate that it is in their best interests to participate, the contract will succeed, and the entrepreneur will be rewarded. In a meta-game, this reward is an incentive for other entrepreneurs to enter the DAC market, driving down the cost disadvantage of dominant assurance contract versus regular assurance contracts.
Monero doesn't have a lot of scripting options to work with currently so it is very hard for me to understand how one might go about creating a Dominant Assurance Contract using Monero, especially in regards to paying out to a miner address.
This is how it could work in Bitcoin:
https://en.bitcoin.it/wiki/Dominant_Assurance_Contracts
This scheme is an attempt at Mike Hearn's exercise for the reader: an implementation of dominant assurance contracts. The scheme requires the use of multisignature transactions, nLockTime and transaction replacement which means it won't work until these features are available on the Bitcoin network.
A vendor agrees to produce a good if X BTC are raised by date D and to pay Y BTC to each of n contributors if X BTC are not raised by date D, or to pay nY BTC if X BTC are raised and the vendor fails to produce the good to the satisfaction of 2 of 3 independent arbitrators picked through a fair process
The arbitrators specify a 2-of-3 multisignature script to use as an output for the fundraiser with a public key from each arbitrator, which will allow them to judge the performance on actually producing the good
For each contributor:
The vendor and the contributor exchange public keys
They create a 2-of-2 multisignature output from those public keys
With no change, they create but do not sign a transaction with an input of X/n BTC from the contributor and an input of Y BTC from the vendor, with X/n+Y going to the output created in 3.2
The contributor creates a transaction where the output is X+nY to the address created in step 2 and the input is the output of the transaction in 3.3, signs it using SIGHASH_ALL | SIGHASH_ANYONECANPAY, with version = UINT_MAX and gives it to the vendor
The vendor creates a transaction of the entire balance of the transaction in 3.3 to the contributor with nLockTime of D and version < UINT_MAX, signs it and gives it to the contributor
The vendor and contributor then both sign the transaction in 3.3 and broadcast it to the network, making the transaction in 3.4 valid when enough contributors participate and the transaction in 3.5 valid when nLockTime expires
As date D nears, nLockTime comes close to expiration.
If enough (n) people contribute, all of the inputs from 3.4 can combine to make the output valid when signed by the vendor, creating a valid transaction sending that money to the arbitrators, which only agree to release the funds when the vendor produces a satisfactory output
If not enough people ( Note that there is a limit at which it can be more profitable for the vendor to make the remaining contributions when D approaches
Now the arbitrators have control of X (the payment from the contributors) + nY (the performance bond from the vendor) BTC and pay the vendor only when the vendor performs satisfactorily
Such contracts can be used for crowdfunding. Notable examples from Mike Hearn include:
Funding Internet radio stations which don't want to play ads: donations are the only viable revenue source as pay-for-streaming models allow undercutting by subscribers who relay the stream to their own subscribers
Automatically contributing to the human translation of web pages


Monero has these features:
  1. Multisig
  2. LockTime (but it is much different then BTCs)
  3. A possibility to do MoJoin (CoinJoin) like transactions, even if less then optimally private. There is hope that the MoJoin Schemes will allow for better privacy in the future:
I have a draft writeup for a merged-input system called MoJoin that allows multiple parties to generate a single transaction. The goal is to complete the transaction merging with no trust in any party, but this introduces significant complexity and may not be possible with the known Bulletproofs multiparty computation scheme. My current version of MoJoin assumes partial trust in a dealer, who learns the mappings between input rings and outputs (but not true spends or Pedersen commitment data).

Additionally, Non-Interactive Refund Transactions could also be possible in Monero's future.
https://eprint.iacr.org/2019/595
I can't fully workout how all of these could work together to make a DAC that allows miners to put up and payout a reward if it doesn't succeed, or how we could make it so *any* miner who participated (by putting up a reward) could claim the reward if it succeeded. I think this should really be explored as it could make for a much more secure blockchain, potentially saving us if a "crypto winter" hits where the value of monero and number of transactions are low, making for a blockchain that is hard to trust because it would be so cheap to perform a 51% attack.


I am still skeptical of Dominant Assurance Contracts, despite success in an initial test https://marginalrevolution.com/marginalrevolution/2013/08/a-test-of-dominant-assurance-contracts.html
it still remains questionable or at least confusing: https://forum.ethereum.org/discussion/747/im-not-understanding-why-dominant-assurance-contracts-are-so-special
submitted by Vespco to Monero [link] [comments]

Official ColossusXT Q4 AMA!

Official ColossusXT Q4 AMA!

Welcome to the fourth official ColossusXT AMA!

As we come to a close out 2018 and the end of Q4 2018 we are reminded that the power of ColossusXT comes from the community and to strengthen the unity between the team and the community and help community members learn more about ColossusXT project, we host an online AMA on Reddit at the end of every quarter. This AMA will start on 10 December and end on 31 December. We answered 39 questions in the Q3 AMA!

The team will review and answer your questions within the first week of January 2019.
Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.

Rules:

Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.

Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX).

https://preview.redd.it/x3bfujj79d321.png?width=890&format=png&auto=webp&s=aac256a83899a76c57b7e4e2a796594a71e9391d

About ColossusXT (COLX):

ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.

Question format can be seen below:


-----------------------------------------------------------
Q: What is the Colossus Grid?
-----------------------------------------------------------
A: ColossusXT is an anonymous blockchain through obfuscation. Zerocoin Protocol, along with utilization of I2P. These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.

-----------------------------------------------------------------------------------------------------------
Q: Why does your blockchain exist and what makes it unique?
-----------------------------------------------------------------------------------------------------------
A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through obfuscation. Zerocoin Protocol, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.

Important Information:

Website
Whitepaper
Roadmap
GitHub
Wiki
Governance
Partners

Follow ColossusXT on:

Twitter
Facebook
Telegram
Discord
Forums
Interested in joining the ColossusXT team?
Contribute an Idea!

AMA History:

2018 Q1
2018 Q2
2018 Q3
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

ColossusXT 2019 Q1 AMA

ColossusXT 2019 Q1 AMA
Welcome to the fifth official ColossusXT AMA, and the first of 2019!

As we begin 2019 we have released another ambitious roadmap, please use this opportunity to ask questions of the ColossusXT team, share your input, or vent a frustration or complaint. This AMA will start on 10 March and end on 31 March.


ColossusXT (COLX) 2019


The team will review and answer your questions within the first week of April.

Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.


Rules:

Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.


Contest:
One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX).


ColossusXT (COLX) Q1 AMA


About ColossusXT (COLX):

ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.


Question format can be seen below:


-----------------------------------------------------------

Q: What is the Colossus Grid?

-----------------------------------------------------------

A: ColossusXT is an anonymous blockchain through obfuscation. Zerocoin Protocol, along with utilization of I2P. These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.


-----------------------------------------------------------------------------------------------------------

Q: Why does your blockchain exist and what makes it unique?

-----------------------------------------------------------------------------------------------------------

A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through obfuscation. Zerocoin Protocol, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.


Important Information:

ColossusXT Webpage

Whitepaper

Roadmap

GitHub

Wiki

Goverance

Partners


Follow ColossusXT on:

Twitter

Facebook

Telegram

Discord

Forums

Interested in joining the ColossusXT team?

Contribute an Idea!


AMA History:

2018 Q1

2018 Q2

2018 Q3

2018 Q4
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Long live decentralized bitcoin(!) A reading list

Newbs might not know this, but bitcoin recently came out of an intense internal drama. Between July 2015 and August 2017 bitcoin was attacked by external forces who were hoping to destroy the very properties that made bitcoin valuable in the first place. This culminated in the creation of segwit and the UASF (user activated soft fork) movement. The UASF was successful, segwit was added to bitcoin and with that the anti-decentralization side left bitcoin altogether and created their own altcoin called bcash. Bitcoin's price was $2500, soon after segwit was activated the price doubled to $5000 and continued rising until a top of $20000 before correcting to where we are today.
During this drama, I took time away from writing open source code to help educate and argue on reddit, twitter and other social media. I came up with a reading list for quickly copypasting things. It may be interesting today for newbs or anyone who wants a history lesson on what exactly happened during those two years when bitcoin's very existence as a decentralized low-trust currency was questioned. Now the fight has essentially been won, I try not to comment on reddit that much anymore. There's nothing left to do except wait for Lightning and similar tech to become mature (or better yet, help code it and test it)
In this thread you can learn about block sizes, latency, decentralization, segwit, ASICBOOST, lightning network and all the other issues that were debated endlessly for over two years. So when someone tries to get you to invest in bcash, remind them of the time they supported Bitcoin Unlimited.
For more threads like this see UASF

Summary / The fundamental tradeoff

A trip to the moon requires a rocket with multiple stages by gmaxwell (must read) https://www.reddit.com/Bitcoin/comments/438hx0/a_trip_to_the_moon_requires_a_rocket_with/
Bram Cohen, creator of bittorrent, argues against a hard fork to a larger block size https://medium.com/@bramcohen/bitcoin-s-ironic-crisis-32226a85e39f#.558vetum4
gmaxwell's summary of the debate https://bitcointalk.org/index.php?topic=1343716.msg13701818#msg13701818
Core devs please explain your vision (see luke's post which also argues that blocks are already too big) https://www.reddit.com/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/
Mod of btc speaking against a hard fork https://www.reddit.com/btc/comments/57hd14/core_reaction_to_viabtc_this_week/d8scokm/
It's becoming clear to me that a lot of people don't understand how fragile bitcoin is https://www.reddit.com/Bitcoin/comments/59kflj/its_becoming_clear_to_me_that_a_lot_of_people/
Blockchain space must be costly, it can never be free https://www.reddit.com/Bitcoin/comments/4og24h/i_just_attended_the_distributed_trade_conference/
Charlie Lee with a nice analogy about the fundamental tradeoff https://medium.com/@SatoshiLite/eating-the-bitcoin-cake-fc2b4ebfb85e#.444vr8shw
gmaxwell on the tradeoffs https://bitcointalk.org/index.php?topic=1520693.msg15303746#msg15303746
jratcliff on the layering https://www.reddit.com/btc/comments/59upyh/segwit_the_poison_pill_for_bitcoin/d9bstuw/

Scaling on-chain will destroy bitcoin's decentralization

Peter Todd: How a floating blocksize limit inevitably leads towards centralization [Feb 2013] https://bitcointalk.org/index.php?topic=144895.0 mailing list https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2013-February/002176.html with discussion on reddit in Aug 2015 https://www.reddit.com/Bitcoin/comments/3hnvi8/just_a_little_history_lesson_for_everyone_new_the/
Nick Szabo's blog post on what makes bitcoin so special http://unenumerated.blogspot.com/2017/02/money-blockchains-and-social-scalability.html
There is academic research showing that even small (2MB) increases to the blocksize results in drastic node dropoff counts due to the non-linear increase of RAM needed. http://bravenewcoin.com/assets/Whitepapers/block-size-1.1.1.pdf
Reddit summary of above link. In this table, you can see it estimates a 40% drop immediately in node count with a 2MB upgrade and a 50% over 6 months. At 4mb, it becomes 75% immediately and 80% over 6 months. At 8, it becomes 90% and 95%. https://www.reddit.com/Bitcoin/comments/5qw2wa_future_led_by_bitcoin_unlimited_is_a/dd442pw/
Larger block sizes make centralization pressures worse (mathematical) https://petertodd.org/2016/block-publication-incentives-for-miners
Talk at scalingbitcoin montreal, initial blockchain synchronization puts serious constraints on any increase in the block size https://www.youtube.com/watch?v=TgjrS-BPWDQ&t=2h02m06s with transcript https://scalingbitcoin.org/transcript/montreal2015/block-synchronization-time
Bitcoin's P2P Network: The Soft Underbelly of Bitcoin https://www.youtube.com/watch?v=Y6kibPzbrIc someone's notes: https://gist.github.com/romyilano/5e22394857a39889a1e5 reddit discussion https://www.reddit.com/Bitcoin/comments/4py5df/so_f2pool_antpool_btcc_pool_are_actually_one_pool/
In adversarial environments blockchains dont scale https://scalingbitcoin.org/transcript/hongkong2015/in-adversarial-environments-blockchains-dont-scale
Why miners will not voluntarily individually produce smaller blocks https://scalingbitcoin.org/transcript/hongkong2015/why-miners-will-not-voluntarily-individually-produce-smaller-blocks
Hal Finney: bitcoin's blockchain can only be a settlement layer (mostly interesting because it's hal finney and its in 2010) https://www.reddit.com/Bitcoin/comments/3sb5nj/most_bitcoin_transactions_will_occur_between/
petertodd's 2013 video explaining this https://www.youtube.com/watch?v=cZp7UGgBR0I
luke-jr's summary https://www.reddit.com/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/dficjhj/
Another jratcliff thread https://www.reddit.com/Bitcoin/comments/6lmpll/explaining_why_big_blocks_are_bad/

Full blocks are not a disaster

Blocks must be always full, there must always be a backlog https://medium.com/@bergealex4/bitcoin-is-unstable-without-the-block-size-size-limit-70db07070a54#.kh2vi86lr
Same as above, the mining gap means there must always be a backlog talk: https://www.youtube.com/watch?time_continue=2453&v=iKDC2DpzNbw transcript: https://scalingbitcoin.org/transcript/montreal2015/security-of-diminishing-block-subsidy
Backlogs arent that bad https://www.reddit.com/Bitcoin/comments/49p011/was_the_fee_event_really_so_bad_my_mind_is/
Examples where scarce block space causes people to use precious resources more efficiently https://www.reddit.com/Bitcoin/comments/4kxxvj/i_just_singlehandedly_increased_bitcoin_network/
https://www.reddit.com/Bitcoin/comments/47d4m2/why_does_coinbase_make_2_transactions_pe
https://www.reddit.com/Bitcoin/comments/53wucs/why_arent_blocks_full_yet/d7x19iv
Full blocks are fine https://www.reddit.com/Bitcoin/comments/5uld1a/misconception_full_blocks_mean_bitcoin_is_failing/
High miner fees imply a sustainable future for bitcoin https://www.reddit.com/BitcoinMarkets/comments/680tvf/fundamentals_friday_week_of_friday_april_28_2017/dgwmhl7/
gmaxwell on why full blocks are good https://www.reddit.com/Bitcoin/comments/6b57ca/full_blocks_good_or_bad/dhjxwbz/
The whole idea of the mempool being "filled" is wrong headed. The mempool doesn't "clog" or get stuck, or anything like that. https://www.reddit.com/Bitcoin/comments/7cusnx/to_the_people_still_doubting_that_this_congestion/dpssokf/

Segwit

What is segwit

luke-jr's longer summary https://www.reddit.com/Bitcoin/comments/6033h7/today_is_exactly_4_months_since_the_segwit_voting/df3tgwg/?context=1
Charlie Shrem's on upgrading to segwit https://twitter.com/CharlieShrem/status/842711238853513220
Original segwit talk at scalingbitcoin hong kong + transcript https://youtu.be/zchzn7aPQjI?t=110
https://scalingbitcoin.org/transcript/hongkong2015/segregated-witness-and-its-impact-on-scalability
Segwit is not too complex https://www.reddit.com/btc/comments/57vjin/segwit_is_not_great/d8vos33/
Segwit does not make it possible for miners to steal coins, contrary to what some people say https://www.reddit.com/btc/comments/5e6bt0/concerns_with_segwit_and_anyone_can_spend/daa5jat/?context=1
https://keepingstock.net/segwit-eli5-misinformation-faq-19908ceacf23#.r8hlzaquz
Segwit is required for a useful lightning network It's now known that without a malleability fix useful indefinite channels are not really possible.
https://www.reddit.com/Bitcoin/comments/5tzqtc/gentle_reminder_the_ln_doesnt_require_segwit/ddqgda7/
https://www.reddit.com/Bitcoin/comments/5tzqtc/gentle_reminder_the_ln_doesnt_require_segwit/ddqbukj/
https://www.reddit.com/Bitcoin/comments/5x2oh0/olaoluwa_osuntokun_all_active_lightning_network/deeto14/?context=3
Clearing up SegWit Lies and Myths: https://achow101.com/2016/04/Segwit-FUD-Clearup
Segwit is bigger blocks https://www.reddit.com/Bitcoin/comments/5pb8vs/misinformation_is_working_54_incorrectly_believe/dcpz3en/
Typical usage results in segwit allowing capacity equivalent to 2mb blocks https://www.reddit.com/Bitcoin/comments/69i2md/observe_for_yourself_segwit_allows_2_mb_blocks_in/

Why is segwit being blocked

Jihan Wu (head of largest bitcoin mining group) is blocking segwit because of perceived loss of income https://www.reddit.com/Bitcoin/comments/60mb9e/complete_high_quality_translation_of_jihans/
Witness discount creates aligned incentives https://segwit.org/why-a-discount-factor-of-4-why-not-2-or-8-bbcebe91721e#.h36odthq0 https://medium.com/@SegWit.co/what-is-behind-the-segwit-discount-988f29dc1edf#.sr91dg406
or because he wants his mining enterprise to have control over bitcoin https://www.reddit.com/Bitcoin/comments/6jdyk8/direct_report_of_jihan_wus_real_reason_fo

Segwit is being blocked because it breaks ASICBOOST, a patented optimization used by bitmain ASIC manufacturer

Details and discovery by gmaxwell https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html
Reddit thread with discussion https://www.reddit.com/Bitcoin/comments/63otrp/gregory_maxwell_major_asic_manufacturer_is/
Simplified explaination by jonny1000 https://www.reddit.com/Bitcoin/comments/64qq5g/attempted_explanation_of_the_alleged_asicboost/
http://www.mit.edu/~jlrubin/public/pdfs/Asicboost.pdf
https://medium.com/@jimmysong/examining-bitmains-claims-about-asicboost-1d61118c678d
Evidence https://www.reddit.com/Bitcoin/comments/63yo27/some_circumstantial_evidence_supporting_the_claim/
https://www.reddit.com/Bitcoin/comments/63vn5g/please_dont_stop_us_from_using_asicboost_which/dfxmm75/
https://www.reddit.com/Bitcoin/comments/63soe3/reverse_engineering_an_asic_is_a_significant_task/dfx9nc
Bitmain admits their chips have asicboost but they say they never used it on the network (haha a likely story) https://blog.bitmain.com/en/regarding-recent-allegations-smear-campaigns/
Worth $100m per year to them (also in gmaxwell's original email) https://twitter.com/petertoddbtc/status/849798529929424898
Other calculations show less https://medium.com/@vcorem/the-real-savings-from-asicboost-to-bitmaintech-ff265c2d305b
This also blocks all these other cool updates, not just segwit https://www.reddit.com/Bitcoin/comments/63otrp/gregory_maxwell_major_asic_manufacturer_is/dfw0ej3/
Summary of bad consequences of asicboost https://www.reddit.com/Bitcoin/comments/64qq5g/attempted_explanation_of_the_alleged_asicboost/dg4hyqk/?context=1
Luke's summary of the entire situation https://www.reddit.com/Bitcoin/comments/6ego3s/why_is_killing_asicboost_not_a_priority/diagkkb/?context=1
Prices goes up because now segwit looks more likely https://twitter.com/TuurDemeestestatus/849846845425799168
Asicboost discovery made the price rise https://twitter.com/TuurDemeestestatus/851520094677200901
A pool was caught red handed doing asicboost, by this time it seemed fairly certain that segwit would get activated so it didnt produce as much interest as earlier https://www.reddit.com/Bitcoin/comments/6p7lr5/1hash_pool_has_mined_2_invalid_blocks/ and https://www.reddit.com/Bitcoin/comments/6p95dl/interesting_1hash_pool_mined_some_invalid_blocks/ and https://twitter.com/petertoddbtc/status/889475196322811904
This btc user is outraged at the entire forum because they support Bitmain and ASICBOOST https://www.reddit.com/btc/comments/67t43y/dragons_den_planned_smear_campaign_of_bitmain/dgtg9l2/
Antbleed, turns out Bitmain can shut down all its ASICs by remote control: http://www.antbleed.com/

What if segwit never activates

What if segwit never activates? https://www.reddit.com/Bitcoin/comments/6ab8js/transaction_fees_are_now_making_btc_like_the_banks/dhdq3id/ with https://www.reddit.com/Bitcoin/comments/5ksu3o/blinded_bearer_certificates/ and https://www.reddit.com/Bitcoin/comments/4xy0fm/scaling_quickly/

Lightning

bitcoinmagazine's series on what lightning is and how it works https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-building-a-bidirectional-payment-channel-1464710791/ https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-creating-the-network-1465326903/ https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-completing-the-puzzle-and-closing-the-channel-1466178980/
The Lightning Network ELIDHDICACS (Explain Like I Don’t Have Degrees in Cryptography and Computer Science) https://letstalkbitcoin.com/blog/post/the-lightning-network-elidhdicacs
Ligtning will increases fees for miners, not lower them https://medium.com/lightning-resources/the-lightning-paradox-f15ce0e8e374#.erfgunumh
Cost-benefit analysis of lightning from the point of view of miners https://medium.com/@rusty_lightning/miners-and-bitcoin-lightning-a133cd550310#.x42rovlg8
Routing blog post by rusty https://medium.com/@rusty_lightning/routing-dijkstra-bellman-ford-and-bfg-7715840f004 and reddit comments https://www.reddit.com/Bitcoin/comments/4lzkz1/rusty_russell_on_lightning_routing_routing/
Lightning protocol rfc https://github.com/lightningnetwork/lightning-rfc
Blog post with screenshots of ln being used on testnet https://medium.com/@btc_coach/lightning-network-in-action-b18a035c955d video https://www.youtube.com/watch?v=mxGiMu4V7ns
Video of sending and receiving ln on testnet https://twitter.com/alexbosworth/status/844030573131706368
Lightning tradeoffs http://www.coindesk.com/lightning-technical-challenges-bitcoin-scalability/
Beer sold for testnet lightning https://www.reddit.com/Bitcoin/comments/62uw23/lightning_network_is_working_room77_is_accepting/ and https://twitter.com/MrHodl/status/848265171269283845
Lightning will result in far fewer coins being stored on third parties because it supports instant transactions https://medium.com/@thecryptoconomy/the-barely-discussed-incredible-benefit-of-the-lightning-network-4ce82c75eb58
jgarzik argues strongly against LN, he owns a coin tracking startup https://twitter.com/petertoddbtc/status/860826532650123264 https://twitter.com/Beautyon_/status/886128801926795264
luke's great debunking / answer of some misinformation questions https://www.reddit.com/Bitcoin/comments/6st4eq/questions_about_lightning_network/dlfap0u/
Lightning centralization doesnt happen https://www.reddit.com/Bitcoin/comments/6vzau5/reminder_bitcoins_key_strength_is_in_being/dm4ou3v/?context=1
roasbeef on hubs and charging fees https://twitter.com/roasbeef/status/930209165728825344 and https://twitter.com/roasbeef/status/930210145790976000

Immutability / Being a swiss bank in your pocket / Why doing a hard fork (especially without consensus) is damaging

A downside of hard forks is damaging bitcoin's immutability https://www.reddit.com/Bitcoin/comments/5em6vu/what_happens_if_segwit_doesnt_activate/dae1r6c/?context=3
Interesting analysis of miners incentives and how failure is possible, don't trust the miners for long term https://www.reddit.com/Bitcoin/comments/5gtew4/why_an_increased_block_size_increases_the_cost_of/daybazj/?context=2
waxwing on the meaning of cash and settlement https://www.reddit.com/Bitcoin/comments/5ei7m3/unconfirmed_transactions_60k_total_fees_14btc/dad001v/
maaku on the cash question https://www.reddit.com/Bitcoin/comments/5i5iq5/we_are_spoiled/db5luiv/?context=1
Digital gold funamentalists gain nothing from supporting a hard fork to larger block sizes https://www.reddit.com/Bitcoin/comments/5xzunq/core_please_compromise_before_we_end_up_with_bu/dem73xg/?context=1
Those asking for a compromise don't understand the underlying political forces https://www.reddit.com/Bitcoin/comments/6ef7wb/some_comments_on_the_bip148_uasf_from_the/dia236b/?context=3
Nobody wants a contentious hard fork actually, anti-core people got emotionally manipulated https://www.reddit.com/Bitcoin/comments/5sq5ocontentious_forks_vs_incremental_progress/ddip57o/
The hard work of the core developers has kept bitcoin scalable https://www.reddit.com/Bitcoin/comments/3hfgpo/an_initiative_to_bring_advanced_privacy_features/cu7mhw8?context=9
Recent PRs to improve bitcoin scaleability ignored by the debate https://twitter.com/jfnewbery/status/883001356168167425
gmaxwell against hard forks since 2013 https://bitcointalk.org/index.php?topic=140233.20
maaku: hard forks are really bad https://www.reddit.com/Bitcoin/comments/5zxjza/adam_greg_core_devs_and_big_blockers_now_is_the/df275yk/?context=2

Some metrics on what the market thinks of decentralization and hostile hard forks

The price history shows that the exchange rate drops every time a hard fork threatens: https://i.imgur.com/EVPYLR8.jpg
and this example from 2017 https://twitter.com/WhalePanda/status/845562763820912642
http://imgur.com/a/DuHAn btc users lose money
price supporting theymos' moderation https://i.imgur.com/0jZdF9h.png
old version https://i.imgur.com/BFTxTJl.png
older version https://pbs.twimg.com/media/CxqtUakUQAEmC0d.jpg
about 50% of nodes updated to the soft fork node quite quickly https://imgur.com/O0xboVI

Bitcoin Unlimited / Emergent Consensus is badly designed, changes the game theory of bitcoin

Bitcoin Unlimited was a proposed hard fork client, it was made with the intention to stop segwit from activating
A Future Led by Bitcoin Unlimited is a Centralized Future https://blog.sia.tech/a-future-led-by-bitcoin-unlimited-is-a-centralized-future-e48ab52c817a#.p1ly6hldk
Flexible transactions are bugged https://www.reddit.com/Bitcoin/comments/57tf5g/bitcoindev_bluematt_on_flexible_transactions/
Bugged BU software mines an invalid block, wasting 13 bitcoins or $12k
https://www.reddit.com/Bitcoin/comments/5qwtr2/bitcoincom_loses_132btc_trying_to_fork_the/
https://www.reddit.com/btc/comments/5qx18i/bitcoincom_loses_132btc_trying_to_fork_the/
bitcoin.com employees are moderators of btc https://medium.com/@WhalePanda/the-curious-relation-between-bitcoin-com-anti-segwit-propaganda-26c877249976#.vl02566k4
miners don't control stuff like the block size http://hackingdistributed.com/2016/01/03/time-for-bitcoin-user-voice/
even gavin agreed that economic majority controls things https://www.reddit.com/Bitcoin/comments/5ywoi9/in_2010_gavin_predicted_that_exchanges_ie_the/
fork clients are trying to steal bitcoin's brand and network effect, theyre no different from altcoins https://medium.com/@Coinosphere/why-bitcoin-unlimited-should-be-correctly-classified-as-an-attempted-robbery-of-bitcoin-not-a-9355d075763c#.qeaynlx5m
BU being active makes it easier to reverse payments, increases wasted work making the network less secure and giving an advantage to bigger miners https://www.reddit.com/Bitcoin/comments/5g1x84/bitcoin_unlimited_bu_median_value_of_miner_eb/
bitcoin unlimited takes power away from users and gives it to miners https://medium.com/@alpalpalp/bitcoin-unlimiteds-placebo-controls-6320cbc137d4#.q0dv15gd5
bitcoin unlimited's accepted depth https://twitter.com/tdryja/status/804770009272696832
BU's lying propaganda poster https://imgur.com/osrViDE

BU is bugged, poorly-reviewed and crashes

bitcoin unlimited allegedly funded by kraken stolen coins
https://www.reddit.com/btc/comments/55ajuh/taint_analysis_on_bitcoin_stolen_from_kraken_on/
https://www.reddit.com/btc/comments/559miz/taint_analysis_on_btc_allegedly_stolen_from_kraken/
Other funding stuff
https://www.reddit.com/Bitcoin/comments/5zozmn/damning_evidence_on_how_bitcoin_unlimited_pays/
A serious bug in BU https://www.reddit.com/Bitcoin/comments/5h70s3/bitcoin_unlimited_bu_the_developers_have_realized/
A summary of what's wrong with BU: https://www.reddit.com/Bitcoin/comments/5z3wg2/jihanwu_we_will_switch_the_entire_pool_to/devak98/

Bitcoin Unlimited Remote Exploit Crash 14/3/2017

https://www.reddit.com/Bitcoin/comments/5zdkv3/bitcoin_unlimited_remote_exploit_crash/ https://www.reddit.com/Bitcoin/comments/5zeb76/timbe https://www.reddit.com/btc/comments/5zdrru/peter_todd_bu_remote_crash_dos_wtf_bug_assert0_in/
BU devs calling it as disaster https://twitter.com/SooMartindale/status/841758265188966401 also btc deleted a thread about the exploit https://i.imgur.com/lVvFRqN.png
Summary of incident https://www.reddit.com/Bitcoin/comments/5zf97j/i_was_undecided_now_im_not/
More than 20 exchanges will list BTU as an altcoin
https://www.reddit.com/Bitcoin/comments/5zyg6g/bitcoin_exchanges_unveil_emergency_hard_fork/
Again a few days later https://www.reddit.com/Bitcoin/comments/60qmkt/bu_is_taking_another_shit_timberrrrr

User Activated Soft Fork (UASF)

site for it, including list of businesses supporting it http://www.uasf.co/
luke's view
https://www.reddit.com/Bitcoin/comments/5zsk45/i_am_shaolinfry_author_of_the_recent_usedf1dqen/?context=3
threat of UASF makes the miner fall into line in litecoin
https://www.reddit.com/litecoin/comments/66omhlitecoin_global_roundtable_resolution/dgk2thk/?context=3
UASF delivers the goods for vertcoin
https://www.reddit.com/Bitcoin/comments/692mi3/in_test_case_uasf_results_in_miner_consensus/dh3cm34/?context=1
UASF coin is more valuable https://www.reddit.com/Bitcoin/comments/6cgv44/a_uasf_chain_will_be_profoundly_more_valuable/
All the links together in one place https://www.reddit.com/Bitcoin/comments/6dzpew/hi_its_mkwia_again_maintainer_of_uasfbitcoin_on/
p2sh was a uasf https://github.com/bitcoin/bitcoin/blob/v0.6.0/src/main.cpp#L1281-L1283
jgarzik annoyed at the strict timeline that segwit2x has to follow because of bip148 https://twitter.com/jgarzik/status/886605836902162432
Committed intolerant minority https://www.reddit.com/Bitcoin/comments/6d7dyt/a_plea_for_rational_intolerance_extremism_and/
alp on the game theory of the intolerant minority https://medium.com/@alpalpalp/user-activated-soft-forks-and-the-intolerant-minority-a54e57869f57
The risk of UASF is less than the cost of doing nothing https://www.reddit.com/Bitcoin/comments/6bof7a/were_getting_to_the_point_where_a_the_cost_of_not/
uasf delivered the goods for bitcoin, it forced antpool and others to signal (May 2016) https://bitcoinmagazine.com/articles/antpool-will-not-run-segwit-without-block-size-increase-hard-fork-1464028753/ "When asked specifically whether Antpool would run SegWit code without a hard fork increase in the block size also included in a release of Bitcoin Core, Wu responded: “No. It is acceptable that the hard fork code is not activated, but it needs to be included in a ‘release’ of Bitcoin Core. I have made it clear about the definition of ‘release,’ which is not ‘public.’”"
Screenshot of peter rizun capitulating https://twitter.com/chris_belcher_/status/905231603991007232

Fighting off 2x HF

https://twitter.com/MrHodl/status/895089909723049984
https://www.reddit.com/Bitcoin/comments/6h612o/can_someone_explain_to_me_why_core_wont_endorse/?st=j6ic5n17&sh=cc37ee23
https://www.reddit.com/Bitcoin/comments/6smezz/segwit2x_hard_fork_is_completely_useless_its_a/?st=j6ic2aw3&sh=371418dd
https://www.reddit.com/Bitcoin/comments/6sbspv/who_exactly_is_segwit2x_catering_for_now_segwit/?st=j6ic5nic&sh=1f86cadd
https://medium.com/@elliotolds/lesser-known-reasons-to-keep-blocks-small-in-the-words-of-bitcoin-core-developers-44861968185e
b2x is most of all about firing core https://twitter.com/WhalePanda/status/912664487135760384
https://medium.com/@StopAndDecrypt/thats-not-bitcoin-this-is-bitcoin-95f05a6fd6c2

Misinformation / sockpuppets

https://www.reddit.com/Bitcoin/comments/6uqz6k/markets_update_bitcoin_cash_rallies_for_three/dlurbpx/
three year old account, only started posting today https://archive.is/3STjH
Why we should not hard fork after the UASF worked: https://www.reddit.com/Bitcoin/comments/6sl1qf/heres_why_we_should_not_hard_fork_in_a_few_months/

History

Good article that covers virtually all the important history https://bitcoinmagazine.com/articles/long-road-segwit-how-bitcoins-biggest-protocol-upgrade-became-reality/
Interesting post with some history pre-2015 https://btcmanager.com/the-long-history-of-the-fight-over-scaling-bitcoin/
The core scalabality roadmap + my summary from 3/2017 https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe011865.html my summary https://www.reddit.com/Bitcoin/comments/5xa5fa/the_core_development_scalability_roadmap/
History from summer 2015 https://www.reddit.com/Bitcoin/comments/5xg7f8/the_origins_of_the_blocksize_debate/
Brief reminders of the ETC situation https://www.reddit.com/Bitcoin/comments/6nvlgo/simple_breakdown_of_bip91_its_simply_the_miners/dkcycrz/
Longer writeup of ethereum's TheDAO bailout fraud https://www.reddit.com/ethereumfraud/comments/6bgvqv/faq_what_exactly_is_the_fraud_in_ethereum/
Point that the bigblocker side is only blocking segwit as a hostage https://www.reddit.com/BitcoinMarkets/comments/5sqhcq/daily_discussion_wednesday_february_08_2017/ddi3ctv/?context=3
jonny1000's recall of the history of bitcoin https://www.reddit.com/Bitcoin/comments/6s34gg/rbtc_spreading_misinformation_in_rbitcoinmarkets/dl9wkfx/

Misc (mostly memes)

libbitcoin's Understanding Bitcoin series (another must read, most of it) https://github.com/libbitcoin/libbitcoin/wiki/Understanding-Bitcoin
github commit where satoshi added the block size limit https://www.reddit.com/Bitcoin/comments/63859l/github_commit_where_satoshi_added_the_block_size/
hard fork proposals from some core devs https://bitcoinhardforkresearch.github.io/
blockstream hasnt taken over the entire bitcoin core project https://www.reddit.com/Bitcoin/comments/622bjp/bitcoin_core_blockstream/
blockstream is one of the good guys https://www.reddit.com/Bitcoin/comments/6cttkh/its_happening_blockstream_opens_liquid_sidechain/dhxu4e
Forkers, we're not raising a single byte! Song lyrics by belcher https://gist.github.com/chris-belche7264cd6750a86f8b4a9a
Some stuff here along with that cool photoshopped poster https://medium.com/@jimmysong/bitcoin-realism-or-how-i-learned-to-stop-worrying-and-love-1mb-blocks-c191c35e74cb
Nice graphic https://twitter.com/RNR_0/status/871070843698380800
gmaxwell saying how he is probably responsible for the most privacy tech in bitcoin, while mike hearn screwed up privacy https://www.reddit.com/btc/comments/6azyme/hey_bu_wheres_your_testnet/dhiq3xo/?context=6
Fairly cool propaganda poster https://twitter.com/urbanarson/status/880476631583924225
btc tankman https://i.redd.it/gxjqenzpr27z.png https://twitter.com/DanDarkPill/status/853653168151986177
asicboost discovery meme https://twitter.com/allenscottoshi/status/849888189124947971
https://twitter.com/urbanarson/status/882020516521013250
gavin wanted to kill the bitcoin chain https://twitter.com/allenscottoshi/status/849888189124947971
stuff that btc believes https://www.reddit.com/Bitcoin/comments/6ld4a5/serious_is_the_rbtc_and_the_bu_crowd_a_joke_how/djszsqu/
after segwit2x NYA got agreed all the fee pressure disappeared, laurenmt found they were artificial spam https://twitter.com/i/moments/885827802775396352
theymos saying why victory isnt inevitable https://www.reddit.com/Bitcoin/comments/6lmpll/explaining_why_big_blocks_are_bad/djvxv2o/
with ignorant enemies like these its no wonder we won https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-999 ""So, once segwit2x activates, from that moment on it will require a coordinated fork to avoid the up coming "baked in" HF. ""
a positive effect of bcash, it made blockchain utxo spammers move away from bitcoin https://www.reddit.com/btc/comments/76lv0b/cryptograffitiinfo_now_accepts_bitcoin_cash/dof38gw/
summary of craig wright, jihan wu and roger ver's positions https://medium.com/@HjalmarPeters/the-big-blockers-bead6027deb2
Why is bitcoin so strong against attack?!?! (because we're motivated and awesome) https://www.reddit.com/btc/comments/64wo1h/bitcoin_unlimited_is_being_blocked_by_antivirus/dg5n00x/
what happened to #oldjeffgarzik https://www.reddit.com/Bitcoin/comments/6ufv5x/a_reminder_of_some_of_jeff_garziks_greatest/
big blockers fully deserve to lose every last bitcoin they ever had and more https://www.reddit.com/BitcoinMarkets/comments/756nxf/daily_discussion_monday_october_09_2017/do5ihqi/
gavinandresen brainstorming how to kill bitcoin with a 51% in a nasty way https://twitter.com/btcdrak/status/843914877542567937
Roger Ver as bitcoin Judas https://imgur.com/a/Rf1Pi
A bunch of tweets and memes celebrating UASF
https://twitter.com/shaolinfry/status/842457019286188032 | https://twitter.com/SatoshiLite/status/888335092560441345 | https://twitter.com/btcArtGallery/status/887485162925285377 | https://twitter.com/Beautyon_/status/888109901611802624 | https://twitter.com/Excellion/status/889211512966873088 | https://twitter.com/lopp/status/888200452197801984 | https://twitter.com/AlpacaSW/status/886988980524396544 | https://twitter.com/BashCo_/status/877253729531162624 | https://twitter.com/tdryja/status/865212300361379840 | https://twitter.com/Excellion/status/871179040157179904 | https://twitter.com/TraceMayestatus/849856343074902016 | https://twitter.com/TraceMayestatus/841855022640033792 | https://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-08-18_at_01.36.47.original.png
submitted by belcher_ to Bitcoin [link] [comments]

Regarding Threads on Bitmain and ASIC Resistance (Mega Thread!)

Guys,
Let’s take a minute to talk about what’s going on. We need to make sure all users are on the same page and the falsifications and assumptions stop.
I'm with you, and I understand that you feel betrayed. However, cleaning up after the constant bickering for those pro-fork and those anti-fork is growing tiresome. It's time we have a civil discussion and talk about facts.

Timeline of events

On 03/31/2018, a user from Ethfans.org posted a video on Telegram of a supposed Ethash ASIC. The video made its way to /Ethermining in a thread. It is important to mention that these values can be modified by changing “get_miner_status.cgi” and “minerStatus.cgi” and that there has been no credible evidence that has popped up in the nine days following the release of the supposed leak. Additionally, the following abnormalities should be noted:
Also on 3/31/2018, a user on Russian site Bits.media noticed that the pre-order for the Bitmain E3 was already up. It was believed to be an April fools joke; needless to say, it wasn’t.
On 04/02/2018, Bitmain launched the E3 and began taking pre-orders for a June delivery. At that time, the price was $800 and promised a hashing power of 180MH/s at 800 watts.
On 04/06/2018, Ethereum core developers decided against hard-forking Ethereum at this time, as they weren't convinced that it would positively impact the community given a hard-fork's disruption and the unknown of how the ASIC worked (specifically if it was programmable). The community became upset over broken promises of ASIC resistance, and this has since spread to a full out finger pointing of who is wrong.
On 04/08/2018, an apparently forged photo showed up showing a higher-hashing ASIC with far less power consumption. This is not only very unlikely, but the link in the photo was gibberish, whereas the E3's link was valid. We're writing that one up as FUD.

The "ASIC Resistance" Argument

At this point, I think that it’s I think it's important that we visit some key points of the Ethereum project. A lot of people have been quoting the whitepaper, calling ETH ASIC-proof and implying that the developers do not care about the problem.
In actuality, Ethereum never promised that it would be ASIC-proof, merely that it would provide an economic incentive to be resistant to the development of an ASIC. I'd like to produce a quote from the Ethereum Wiki, found here.
Ultimately, perfect ASIC resistance is impossible; there are always portions of circuits that are going to be unused by any specific algorithm and that can be trimmed to cut costs in a specialized device. However, what we are looking for is not perfect ASIC resistance but rather economic ASIC resistance.
...
The problem is that measuring an economy in a secure way is a difficult problem. The most obvious metric that the system has access to is mining difficulty, but mining difficulty also goes up with Moore's law and in the short term with ASIC development, and there is no known way to estimate the impact of Moore's law alone and so the currency cannot know if its difficulty increased by 10x due to better hardware, a larger user volume or a combination of both. Other metrics, such as transaction count, are potentially gameable by entities that want the supply to change in a particular direction (generally, holders want a lower supply, miners want a higher supply).
This is solidified by revisiting the whitepaper, specifically the section which identifies how ASICs will be economically stymied:
This model is untested, and there may be difficulties along the way in avoiding certain clever optimizations when using contract execution as a mining algorithm. However, one notably interesting feature of this algorithm is that it allows anyone to "poison the well", by introducing a large number of contracts into the blockchain specifically designed to stymie certain ASICs. The economic incentives exist for ASIC manufacturers to use such a trick to attack each other. Thus, the solution that we are developing is ultimately an adaptive economic human solution rather than purely a technical one.
So with the Ethereum team providing only an economic reason to not develop an ASIC since the beginning, there has been no lie.

Second batch of E3s will not be profitable with Ethereum

As a response to the developers announcing that they are not initiating a hard fork, Bitmain raised the price of the second batch of E3s to $1800. With a PSU ($105) and shipping costs ($225), plus duty fees ($25). That brings each E3 up to $2,155, or $11.97 per MH.
Comparatively, this is like paying $300 per GPU ($1800) plus Mobo/PSU/risers ($355). I have built rigs with similar hashrates for under $1,900 ($10.50 per MH).
If we speculate that Casper is as close as we think (see below), coupled with the rising difficulty, the second batch of E3s are not likely to break-even with Ethereum as a whole. If ETH rises to its ATH, the second batch units may be profitable. Tis the risk of mining.

Current speculation:

  • ASICs are bad!
    • In the Ethereum mining community, ASICs to be viewed as a formidable commodity, when they should rather be viewed as a tool. Tools are never inherently good or bad, but how they are used can be, and some developers intend for the coin to eventually be used with an ASIC. Some coins, such as Sia, were designed to specifically work with an ASIC. > 51% centralization is bad.
  • Bitmain has a better ASIC.
    • Probably. But this is an unknown. Speculation of an ASIC is not a reason to fork the second largest cryptocurrency.
  • Bitmain will be a cause for centralization
    • Everything should be a concern for centralization. Hell, early miners can be a bigger concern. The principals of economies of scale still apply to mining; so those who started out with a lot of GPUs are heavily mining. I've set up warehouses full of GPUs for clients, so if you think some of the guys here are big shots, I promise you there are larger concerns for the current state of centralization.
    • I will also note that yes, we will need to worry about a mass-manufacturer of just ASICs, especially if they are pumping out > 30,000 units per month at the current rate. But the firm that uncovered Bitmain's ASIC, Susquehannah, claims that there are at least three other ASIC manufacturers out there. This puts some silent competition on Bitmain.
  • Ethereum is not as centralized as Bitcoin
    • You'd think that, and the goal of the whitepaper was for Ethereum to be less centralized as bitcoin. It even mentions that "three mining pools indirectly control roughly 50% of processing power in the Bitcoin network." Ethereum is in this state already. Ethermine controls ~28% of the network hashrate, F2pool has ~17%, and SparkPool has ~15%. Arguably, the Ethereum network is in a more sensitive state.
  • Casper is right around the corner.
    • This has been speculation for some time now. Developers confirmed that testnet should be fully operational by August, meaning that we may be able to expect PoS hybrid by DecembeJanuary assuming everything goes as planned.
  • Dev team does not care about miners
    • In the project's current state, miners are a necessity. Remember that seigniorage must be sinigicant enough for miners to continue mining, otherwise, the network would slow and we'd have another Crypto Kitties incident on our hands. Until Ethereum is PoS, you are valid.
  • Dev team wants to get rid of miners
    • Well, yeah. That's what PoS is about. Ethereum will not be Proof of Work forever and that needs to be appreciated.
  • We should fork ourselves into an ASIC-proof currency
    • Do it! Take some initiative and work up a team, I'll be happy to help and support in any way that I can, including pointing my hashing power your way.

Ethereum decision governance

Right now, large decisions are made by the Ethereum core developers. This last decision to not hard-fork was not well received by the community. It feels to be almost an "electoral college" kind of deal, and that's something that has upset a lot of people. Is this the topic that we need to discuss in more detail?

So what is this thread?

For now, this is going to replace our weekly discussion for a few weeks until everything calms down. The sub is in a volatile state and everyone is slinging FUD at everyone else. We need to clean up and calmly discuss our position on the matter at hand. This means:
  • No more fighting about the ASIC in the comments
  • OUTSIDE OF THIS THREAD, please do not shitpost. Meaning, no more strongly worded threads about how you're out of mining completely because of the ASIC, or how the developers screwed you over because ETH was supposed to be ASIC proof, or how people are whining. I'm deleting threads left and right for people who are just using the sub as an outlet to name call on both sides.
  • As always, constructive threads are welcome, but shitposts are to be confined to this thread, please.

We all have different opinions

I am going to remain neutral on this topic. I mine with both GPUs and ASICs, and I've worked with countless numbers of people who do as well. We need to cooperate as a community instead of tearing each other apart over the issue. Let's think before we post and keep comments constructive.
Happy mining!
  • Rob
submitted by Robbbbbbbbb to EtherMining [link] [comments]

Official ColossusXT Q3 AMA!

Welcome to the third official ColossusXT AMA!
ColossusXT team values the power of community and is open to suggestions of all sorts. To strengthen the unity between the team and the community and help community members learn more about ColossusXT project, we will host an online AMA on Reddit at the end of every quarter. This AMA will start on 10 September and end on 30 September. We answered 78 questions in the Q2 AMA!
The team will review and answer your questions within the first week of October.
Before AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.
Rules:
Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.
Contest: One person who asks a question will be chosen at random to receive 100,000 ColossusXT (COLX).
About ColossusXT (COLX):
ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
Question format can be seen below:
Q: What is the Colossus Grid?
A: ColossusXT is an anonymous blockchain through obfuscation. Zerocoin Protocol, along with utilization of I2P. These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
Q: Why does your blockchain exist and what makes it unique?
A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation. Zerocoin Protocol, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
Website: https://colossusxt.io
Whitepaper: https://colossuscoinxt.org/whitepape
Roadmap: https://colossuscoinxt.org/roadmap/
Wiki: https://wiki.colossusxt.io/
Governance: https://governance.colossusxt.io/proposals
Partners: https://colossusxt.io/partnerships/

Follow ColossusXT on:
Twitter: https://twitter.com/colossuscoinxt
Facebook Page: https://www.facebook.com/ColossusCoin/
Telegram: https://web.telegram.org/#/im?p=s1245563208_12241980906364004453
Discord: https://discord.gg/WrnAPcx
Forums: https://forum.colossusxt.io/
Apply to join the team: https://docs.google.com/forms/d/1YcOoY6nyCZ6aggJNyMU-Y5me8_gLTHkuDY4SrQPRe-4/viewform?edit_requested=true
Contribute an idea: https://colossusxt.fider.io/
Previous AMA:
Q1: https://www.reddit.com/ColossuscoinX/comments/8bia7o/official_colossusxt_ama/
Q2: https://www.reddit.com/ColossuscoinX/comments/8wydbf/colossusxt_q2_ama_ends/
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Open TODO List

GET PAID BBP COINS FROM MONTHLY BUDGET FOR YOUR WORK!
Anyone can get paid BBP for helping do work for BiblePay!
http://wiki.biblepay.org/UnderstandingGovernance

From GUI Wallet, in top menu click Proposals >> Proposals Add
NOTE: Only costs 2500 BBP to submit a proposal requesting funding for your work

Here is an incomplete ownership list of different resources:
https://www.reddit.com/BiblePay/comments/9utdsh/biblepay_ownership_list/

OPEN TODO LIST:
- Update and migrate Update/Clean wallet guide to website/wiki
https://www.reddit.com/BiblePay/comments/7nmvm8/how_to_update_clean_wallets/
(erasechain?)

- Update Wiki main page
---- Create Table of Contents
http://wiki.biblepay.org/Main_Page

- Update White Paper
https://www.reddit.com/BiblePay/comments/cyd12g/need_help_updating_white_pape
https://pool.biblepay.org/Docs/BiblePay_White_Paper.pdf

- Write and Publish Step by Step Buying Bitcoin and Buying BiblePay guide
https://bitcointalk.org/index.php?topic=2388064.msg51062536#msg51062536

- Create Youtube Videos
--- How to Mine
--- How to Buy Coins
--- How to Create Proposals, How to View, How Budget System Works-
-- How to Setup Masternode (How to Vote)

- Translate to All Languages
--- Bitcointalk ANN
https://www.reddit.com/BiblePay/comments/7qmt6m/bitcointalk_main_post_language_translations/
--- Mining Guides
--- Website
http://biblepay.org/https://www.reddit.com/BiblePay/comments/7dyabk/help_translate_website_documentation_to_othe
--- White Paper
--- Wallet?
--- Bible?
Language Plugins for Wordpress:
- Polylang: https://wordpress.org/plugins/polylang/
- qTranslate X: https://wordpress.org/plugins/qtranslate-x/
- Polylang Pro: https://polylang.pro/downloads/polylang-pro/
- WordPress Multilingual Plugin (WPML): https://wpml.org/

- Spread to all online Christians
https://bitcointalk.org/index.php?topic=2388064.msg52642234#msg52642234

- Create Twitter Account and Follow BiblePay, Like and Retweet Tweets
https://twitter.com/i/flow/signup?lang=en

- Create or Update Bitcointalk Forum Signature
https://www.reddit.com/BiblePay/comments/7s1qsy/bitcointalk_forum_signature_guide/

MORE TODO:
- Advertising and Journalist Research (Multiple Sheets)
https://docs.google.com/spreadsheets/d/1grgb5Y74XMqShKDp051h1bSZVbHzRLna1bYzoTh6MAY/edit#gid=0

--- Write Articles/Stories
Christcoin is a dead coin now, but look what places it got articles:
https://baptistnews.com/article/market-christian-cryptocurrency-christ-coin-aims-find/#.XNs1E45KiUk
https://www.worldreligionnews.com/religion-news/first-cryptocurrency-god-christ-coin
https://religionnews.com/2017/10/04/christ-coin-launches-as-first-faith-based-cryptocurrency/
https://www.christiantoday.com/article/christ-coin-new-christian-digital-currency-launches-with-rewards-for-the-faithful/115333.htm

- Google Ads - https://forum.biblepay.org/index.php?topic=204.0
- Facebook Ads
- Reddit Ads - https://forum.biblepay.org/index.php?topic=82.0
- Twitter Ads (Banned)

- Monthly Updates
- Weekly Updates
- Email Alerts for Mandatory Upgrades and Monthly News
- Monthly Proposal Summaries

Should we explain our History? and how should we explain it?https://www.reddit.com/BiblePay/comments/ba81wh/current_block_reward_breakdown_mining_guides_and/
https://forum.biblepay.org/index.php?topic=323.0
https://forum.biblepay.org/index.php?topic=380.0https://wiki.biblepay.org/Nutrition_Information

- How do we reach the people that would be most interested in BiblePay?
- How do people find BiblePay?
- What do they see when they find us?
- Why should someone invest in BiblePay? (Why does someone invest in Bitcoin?)
- How is BiblePay different and better than Bitcoin? What is unique?
- How easy is the path to invest?
- How do they stay in the loop / up to date?
  1. Simple Fun Youtube video on How to install BiblePay wallet, How to Buy Bitcoin, How to Buy BiblePay coins, and then How to Backup wallet and keep up to date on the project, Anyone here got youtube/video creation skills? (Older mining video that was good: https://www.youtube.com/watch?v=K1yKx8KsH60) [Most people are visual learners]
  2. Higher google search ranking for religion keywords matched with crypto keywords (more articles, google adwords, etc), examples of religious keywords: christian denominations: https://en.wikipedia.org/wiki/List_of_Christian_denominations_by_number_of_members, Anyone interested in running a Google Adwords campaign? Anyone interested in writing articles hitting upon keywords in title and in article?
  3. I think we are missing out on Facebook, lots of older people on Facebook, older people probably dont use Reddit, Twitter, Discord, etc (I believe our Google Analytics data showed average age of users clicking on BiblePay.org was around age 35), we should be posting regularly on there, anyone interested to make periodic posts that are super user friendly / not too technical?
We need help creating youtube videos
We need help creating graphics
We need help writing articles/stories
We need help communicating on Facebook
We need help running an email newsletter
We need help advertising our monthly budget proposals

- Coin Comparisons
https://wiki.biblepay.org/Nutrition_Information

- Airdrop
https://forum.biblepay.org/index.php?topic=120.0https://www.biblepay.org/airdrop/https://airdropalert.com/biblepay-airdrop

- Random Faucet
https://forum.biblepay.org/index.php?topic=80.0
https://www.reddit.com/BiblePay/comments/7m6t8s/build_2nd_faucet/

- Website SEO (Yoast plugin)

- International Crypto Forums
--- 8btc.com (Chinese)
--- MiningClub.info (Russian)

- Slide Deck
http://smallbusiness.chron.com/deck-marketing-64930.html
"Slide decks are full of infographics and data optimized for "at-a-glance" viewing"

- Paper Wallet Giveaway
How to generate 100+ paper wallets with $1-5 loaded on each

- April of BLOOM has PR experience
https://forum.biblepay.org/index.php?topic=72.0

- Banner Ads
http://fozy.altervista.org/latest-banners.html
https://pasteboard.co/HS9J9W1.pnghttps://pasteboard.co/HS9Jrz0.png

- Interesting Data
https://www.alexa.com/siteinfo/biblepay.org
https://coincheckup.com/coins/biblepay/analysis

- Cathio
Contact organization and writers who wrote articles about them(I think we are missing out on the keyword catholic, we should write page/articleabout how we are open to everyone including all Christian denominations)

INFO:
- What information needs to be added to our website/ann/whitepapeetc?
-- IPFS
https://www.reddit.com/BiblePay/comments/9b6tex/testnet_testing_ipfs_decentralized_file_system/
https://www.reddit.com/BiblePay/comments/9h1578/rob_biblepay_progress/
https://medium.com/biblepay-news/biblepay-october-2018-update-2eba069fd2a2
https://www.reddit.com/BiblePay/comments/9st66d/november_announcement/
-- Dash Evolution
https://www.reddit.com/BiblePay/comments/bifvpk/biblepay_evolution_what_is_it/
-- Generic Smart Contracts (GSCs
)https://wiki.biblepay.org/Generic_Smart_Contracts
-- Healing Campaign
https://wiki.biblepay.org/BiblePay_Healing_Campaign
-- Bug Bountys
https://forum.biblepay.org/index.php?topic=408.msg6046#msg6046
-- Proof of Orphan Mining (POOM)
https://wiki.biblepay.org/POOM
-- Christian Spaces
https://bitcointalk.org/index.php?topic=2388064.msg52080919#msg52080919
-- Chain Locks
https://dashnews.org/andreas-antonopoulos-calls-dash-chainlocks-a-smart-way-of-preventing-51-attacks/
submitted by togoshige to BiblePay [link] [comments]

ColossusXT Q2 AMA Ends!

Thank you for being a part of the ColossusXT Reddit AMA! Below we will summarize the questions and answers. The team responded to 78 questions! If you question was not included, it may have been answered in a previous question. The ColossusXT team will do a Reddit AMA at the end of every quarter.
The winner of the Q2 AMA Contest is: Shenbatu
Q: Why does your blockchain exist and what makes it unique?
A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation Zerocoin Protocol, and I2P and these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
Q: What is the Colossus Grid?
A: ColossusXT is an anonymous blockchain through obfuscation, Zerocoin Protocol, along with utilization of I2P. These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
Q: When will zerocoin be fully integrated?
A: Beta has been released for community testing on Test-Net. As soon as all the developers consider the code ready for Main-Net, it will be released. Testing of the code on a larger test network network will ensure a smooth transition.
Q: Is the end goal for the Colossus Grid to act as a decentralized cloud service, a resource pool for COLX users, or something else?
A: Colossus Grid will act as a grid computing resource pool for any user running a COLX node. How and why we apply the grid to solve world problems will be an ever evolving story.
Q: What do you think the marketing role in colx.? When ll be the inwallet shared nodes available...i know its been stated in roadmap but as u dont follow roadmap and offer everything in advance...i hope shared MN's to be avilable soon.
A: The ColossusXT (COLX) roadmap is a fluid design philosophy. As the project evolves, and our community grows. Our goal is to deliver a working product to the market while at the same time adding useful features for the community to thrive on, perhaps the Colossus Grid and Shared Masternodes will be available both by the end of Q4 2018.
Q: When will your github be open to the public?
A: The GitHub has been open to the public for a few months now.
You can view the GitHub here: https://github.com/ColossusCoinXT
The latest commits here: https://github.com/ColossusCoinXT/ColossusCoinXT/commits/master
Q: Why should I use COLX instead of Monero?
A: ColossusXT offers Proof of Stake and Masternodes both which contribute layers in protection from 51% attacks often attributed with Proof of Work consensus, and in being Proof of Work(Monero) ColossusXT is environmentally friendly compared to Proof of Work (Monero). You can generate passive income from Proof of Stake, and Masternodes. Along with helping secure the network.What really sets ColossusXT apart from Monero, and many other privacy projects being worked on right now, is the Colossus Grid. Once plugged into the Colossus Grid, a desktop machine will draw computational horsepower from all the other computers on the grid. Blockchain, was built on the core value of decentralization and ColossusXT adhere to these standards with end-user privacy in mind in the technology sector.
Q: With so many coins out with little to no purpose let alone a definitive use case, how will COLX distinguish itself from the crowd?
A: You are right, there are thousands of other coins. Many have no purpose, and we will see others “pumping” from day to day. It is the nature of markets, and crypto as groups move from coin to coin to make a quick profit. As blockchain regulations and information is made more easily digestible projects like ColossusXT will rise. Our goal is to produce a quality product that will be used globally to solve technical problems, in doing so grid computing on the ColossusXT network could create markets of its own within utilizing Super-computing resources. ColossusXT is more than just a currency, and our steadfast approach to producing technical accomplishments will not go unnoticed.
Q: Tell the crowd something about the I2P integration plan in the roadmap? 🙂
A: ColossusXT will be moving up the I2P network layer in the roadmap to meet a quicker development pace of the Colossus Grid. The I2P layer will serve as an abstraction layer further obfuscating the users of ColossusXT (COLX) nodes. Abstraction layer allows two parties to communicate in an anonymous manner. This network is optimised for anonymous file-sharing.
Q: What kind of protocols, if any, are being considered to prevent or punish misuse of Colossus Grid resources by bad actors, such as participation in a botnet/denial of service attack or the storage of stolen information across the Grid?
A: What defines bad actors? ColossusXT plans on marketing to governments and cyber security companies globally. Entities and individuals who will certainly want their privacy protected. There is a grey area between good and bad, and that is something we can certainly explore as a community. Did you have any ideas to contribute to this evolving variable?What we mean when we say marketing towards security companies and governments is being utilized for some of the projects and innovating new ways of grid computing.
Security: https://wiki.ncsa.illinois.edu/display/cybersec/Projects+and+Software
Governments: https://www.techwalla.com/articles/what-are-the-uses-of-a-supercomputer
Q: The Colossus Grid is well defined but I don't feel easily digestible. Has their been any talk of developing an easier to understand marketing plan to help broaden the investoadoptor base?
A: As we get closer to the release of the Colossus Grid marketing increase for the Colossus Grid. It will have a user friendly UI, and we will provide Guides and FAQ’s with the release that any user intending to share computing power will be able to comprehend.
Q: Can you compare CollossusXT and Golem?
A: Yes. The Colosssus Grid is similar to other grid computing projects. The difference is that ColossusXT is on it’s own blockchain, and does not rely on the speed or congestion of a 3rd party blockchain. The Colossus Grid has a privacy focus and will market to companies, and individuals who would like to be more discreet when buying or selling resources by offering multiple levels of privacy protections.
Q: How do you guys want to achieve to be one of the leaders as a privacy coin?
A: Being a privacy coin leader is not our end game. Privacy features are just a small portion of our framework. The Colossus Grid will include privacy features, but a decentralized Supercomputer is what will set us apart and we intend to be leading this industry in the coming years as our vision, and development continue to grow and scale with technology.
Q: With multiple coins within this space, data storage and privacy, how do you plan to differentiate COLX from the rest? Any further partnerships planned?
A: The Colossus Grid will differentiate ColossusXT from coins within the privacy space. The ColossusXT blockchain will differentiate us from the DATA storage space. Combining these two features with the ability to buy and sell computing power to complete different computational tasks through a decentralized marketplace. We intend to involve more businesses and individuals within the community and will invite many companies to join in connecting the grid to utilize shared resources and reduce energy waste globally when the BETA is available.
Q: Has colossus grid had the best come up out of all crypto coins?
A: Possibly. ColossusXT will continue to “come up” as we approach the launch of the Colossus Grid network.
Q: How far have Colossus gone in the ATM integration
A: ColossusXT intends to and will play an important role in the mass adoption of cryptocurrencies. We already have an ongoing partnership with PolisPay which will enable use of COLX via master debit cards. Along with this established relationship, ColossusXT team is in touch with possible companies to use colx widely where these can only be disclosed upon mutual agreement.
Q: How does COLX intend to disrupt the computing industry through Grid Computing?
A: Using the Colossus Grid on the ColossusXT blockchain, strengthens the network. Computers sit idly by for huge portions of the day. Connecting to the Colossus Grid and contributing those idle resources can make use of all the computing power going to waste, and assist in advancing multiple technology sectors and solving issues. Reducing costs, waste, and increased speed in technology sectors such as scientific research, machine learning, cyber security, and making it possible for anyone with a desktop PC to contribute resources to the Colossus Grid and earn passive income.
Q: What kind of partnerships do you have planned and can you share any of them? :)
A: The ColossusXT team will announce partnerships when they are available. It’s important to finalize all information and create strong avenues of communication between partners ColossusXT works with in the future. We are currently speaking with many different exchanges, merchants, and discussing options within our technology sector for utilizing the Colossus Grid.
Q: Will shared Masternodes be offered by the COLX team? Or will there be any partnerships with something like StakingLab, StakeUnited, or SimplePosPool? StakingLab allows investors of any size to join their shared Masternodes, so any investor of any size can join. Is this a possibility in the future?
A: ColossusXT has already partnered with StakingLab. We also plan to implement shared Masternodes in the desktop wallet.
Q: How innovative is the Colossus Grid in the privacy coin space?
A: Most privacy coins are focused on being just a currency / form of payment. No other project is attempting to do what we are doing with a focus on user privacy.
Q: Hey guys do you think to integrated with some other plataforms like Bancor? I would like it!
A: ColossusXT is in touch with many exchange platforms, however, due to non disclosure agreements details cannot be shared until it is mutually decided with the partners. We will always be looking for new platforms to spread the use of colx in different parts of the world and crypto space.
Q: What is the reward system for the master node owners?
A: From block 388.800 onwards, block reward is 1200 colx and this is split based on masternode ownestaker ratio. This split is based on see-saw algorithm. With an increasing number of masternodes the see-saw algorithm disincentivizes the establishment of even more masternodes because it lowers their profitability. To be precise, as soon as more than 41.5% of the total COLX coin supply is locked in masternodes, more than 50% of the block reward will be distributed to regular staking nodes. As long as the amount of locked collateral funds is below the threshold of 41.5%, the see-saw algorithm ensure that running a masternode is financially more attractive than running a simple staking node, to compensate for the additional effort that a masternode requires in comparison to a simple staking node.Please refer to our whitepaper for more information.
Q: What other marketplaces has the COLX team been in contact with?
Thanks guys! Love the coin and staff
A: ColossusXT gets in touch for different platforms based on community request and also based on partnership requests received upon ColossusXT business team’s mutual agreement. Unfortunately, these possibilities cannot be shared until they are mutually agreed between the partners and ColossusXT team due to non disclosure agreements.
Q: What do you think about the new rules that will soon govern crypto interactions in the EU? they are against anonymous payments
A: Blockchain technology is just now starting to become clear to different governments.
ColossusXT's privacy features protect the end-user from oversharing personal information. As you are probably aware from the multiple emails you've received recently from many websites.
Privacy policies are always being updated and expanded upon. The use of privacy features with utility coins like ColossusXT should be a regular norm throughout blockchain. This movement is part is about decentralization as much as it is about improving technology.
While this news may have a role to play. I don't think it is THE role that will continuously be played as blockchain technology is implemented throughout the world.
Q: Any hints on the next big feature implementation you guys are working on? According to road map - really excited to hear more about the Shared MN and the scale of the marketplace!
A: Current work is focused on the privacy layer of Colossus Grid and completing the updated wallet interface.
Q: Why choose COLX, or should I say why should we believe in COLX becoming what you promise in the roadmap. What are you different from all the other privacy coins with block chain establishment already in effect?
A: ColossusXT is an environmentally friendly Proof of Stake, with Masternode technology that provide dual layers of protection from 51% attacks. It includes privacy features that protect the user while the utilize resources from the Colossus Grid. Some of the previous questions within this AMA may also answer this question.
Q: What tradeoffs do you have using the Colossus Grid versus the more typical distribution?
A: The advantage of supercomputers is that since data can move between processors rapidly, all of the processors can work together on the same tasks. Supercomputers are suited for highly-complex, real-time applications and simulations. However, supercomputers are very expensive to build and maintain, as they consist of a large array of top-of-the-line processors, fast memory, custom hardware, and expensive cooling systems. They also do not scale well, since their complexity makes it difficult to easily add more processors to such a precisely designed and finely tuned system.By contrast, the advantage of distributed systems (Like Colossus Grid) is that relative to supercomputers they are much less expensive. Many distributed systems make use of cheap, off-the-shelf computers for processors and memory, which only require minimal cooling costs. In addition, they are simpler to scale, as adding an additional processor to the system often consists of little more than connecting it to the network. However, unlike supercomputers, which send data short distances via sophisticated and highly optimized connections, distributed systems must move data from processor to processor over slower networks making them unsuitable for many real-time applications.
Q: Why should I choose Colossus instead of another 100,000 altcoins?
A: Many of these alt-coins are all very different projects. ColossusXT is the only Grid computing project with a focus on user privacy. We have instant transactions, and zero-fee transactions and ColossusXT is one of the very few coins to offer live support. Check out our Whitepaper!
Q: Will there be an option (in the future) to choose between an anonymous or public transaction?
A: Zerocoin is an evolution of the current coin mixing feature. Both allow an individual to decide how they would like to send their transactions.
Q: What exchange has highest volume for ColossusXT, and are there any plans for top exchanges soon ?
A: Currently Cryptopia carries the majority of ColossusXT volume. We are speaking with many different exchanges, and preparing requested documentation for different exchanges. ColossusXT intends to be traded on every major exchange globally.
Q: What is the TPS speed that colx blockchain achieves?
A: ColossusXT achieves between 65-67 TPS depending on network conditions currently.
Q: Plans on expanding the dev team?
A: As development funds allow it, the team will be expanded. Development costs are high for a unique product like ColossusXT, and a good majority of our budget is allocated to it.
Q: Can you explain what is and what are the full porpose of the COLOSSUSXT GRID PROJECT ?
A: Colossus Grid is explained in the whitepaper. The uses for grid computing and storage are vast, and we are only starting to scratch the surface on what this type of computing power can do. There is also a description within the formatting context within the AMA of the Colossus Grid.
Q: Is there mobile wallet for Android and iOS? If not, is there a roadmap?
A: There Android wallet is out of beta and on the Google PlayStore: iOS wallet is planned for development.
The roadmap can be found here: https://colossusxt.io/roadmap/
Q: Is ColossusXT planning on partnering up with other cryptocurrency projects? Such as: Bread and EQUAL.
A: ColossusXT plans on partnering with other crypto projects that make sense. We look for projects that can help alleviate some of our development work / provide quality of life upgrades to our investors so that we can focus on Colossus Grid development. When absolutely love it when the community comes to us with great projects to explore.
Q: Did you ever considered a coinburn? Don't you think a coin burn will increase COLX price and sustain mass adoption? Do you plan on keeping the price of COLX in a range so the potential big investors can invest in a not so much volatile project?
A**:** There are no plans to do a coinburn at this time. Please check out our section in the whitepaper about the supply.
Q: what is the next big exchange for colx to be listed ?
A: There are several exchanges that will be listing ColossusXT soon. Stay tuned for updates within the community as some have already been announced and future announcements.
  1. CryptalDash
  2. NextExchange
  3. CoinPulse
  4. CoinSwitch (Crowdfunding)
  5. Plaak (Crowdfunding)
Q: How will Colx compete with other privacy coins which claim to be better like Privacy?
A: ColossusXT is not competing with other privacy coins. ColossusXT will evolve into the Colossus Grid, which is built on the backbone of a privacy blockchain. In our vision, all these other privacy coins are competing for relevancy with ColossusXT. There are also similar responses to question that may hit on specifics.
Q: Does COLX have a finite number of coins like bitcoin?
A: No, ColossusXT is Proof of Stake. https://en.wikipedia.org/wiki/Proof-of-stake
Q: What are the advantages of COLX over other competitor coins (eg. ECA)?
A: The only similarities between ColossusXT and Electra is that we are both privacy blockchains. ColossusXT is very much an entirely different project that any other privacy coin in the blockchain world today. The Colossus Grid will be a huge advantage over any other privacy coin. Offering the ability for a desktop machine to rent power from others contributing to the Colossus Grid and perform and compute high level tasks.
Q: How do you feel about some countries frowning upon privacy coins and how do you plan to change their minds (and what do you plan to do about it?)
A: The ColossusXT team tries to view opinions from multiple perspectives so that we can understand each line of thinking. As blockchain technology becomes more widely adopted, so will the understanding of the importance of the privacy features within ColossusXT. Privacy is freedom.
Q: How do you see COLX in disrupting cloud gaming services such as PlayStation Now?
A: Cloud gaming services have not been discussed. Initial marketing of our private grid computing framework will be targeted at homes users, governments, and cyber security firms who may require more discretion / anonymity in their work.
Q: Since colx is a privacy coin and is known for its privacy in the transactions due to which lot of money laundering and scams could take place, would colx and its community be affected due to it? And if does then how could we try to prevent it?
A: ColossusXT intends to be known for the Colossus Grid. The Colossus Grid development will be moved up from Q1 2019 to Q3 2018 to reflect this message and prevent further miscommunication about what privacy means for the future of ColossusXT. Previous answers within this AMA may further elaborate on this question.
Q: When do you plan to list your coin on other "bigger" exchanges?
A: ColossusXT is speaking with many different exchanges. These things have many different factors. Exchanges decide on listing dates and we expect to see ColossusXT listed on larger exchanges as we approach the Colossus Grid Beta. The governance system can further assist in funding.
Q: What was the rationale behind naming your coin ColossusXT?
A: Colossus was a set of computers developed by British codebreakers in the years 1943–1945. XT symbolises ‘extended’ as the coin was forked from the original Cv2 coin.
Q: Can you give any details about the E Commerce Marketplace, and its progress?
A: The Ecommerce Marketplace is a project that will receive attention after our development pass on important privacy features for the grid. In general, our roadmap will be changing to put an emphasis on grid development.
Q: How will someone access the grid, and how will you monetize using the grid? Will there be an interface that charges COLX for time on the grid or data usage?
A: The Colossus Grid will be integrated within the ColossusXT wallet. Buying & Selling resources will happen within the wallet interface. You won't be able to charge for "time" on the grid, and have access to unlimited resources. The goal is to have users input what resources they need, and the price they are willing to pay. The Colossus Grid will then look for people selling resources at a value the buyer is willing to pay. Time may come into play based on which resources you are specifically asking for.
Q: Are there any plans to launch an official YouTube channel with instructional videos about basic use of the wallets and features of COLX? Most people are visually set and learn much faster about wallets when actually seeing it happen before they try themselves. This might attract people to ColossusXT and also teach people about basic use of blockchain and cryptocurrency wallets. I ask this because I see a lot of users on Discord and Telegram that are still learning and are asking a lot of real basic questions.
A: ColossusXT has an official YT account with instructional videos: https://www.youtube.com/channel/UCCmMLUSK4YoxKvrLoKJnzng
Q: What are the usp's of colx in comparing to other privacy coins?
A: Privacy coins are a dime a dozen. ColossusXT has different end goals than most privacy coins, and this cannot be stated enough. Our goal is not just to be another currency, but to build a sophisticated computing resource sharing architecture on top of the privacy blockchain.
Q: A new exchange will probably gain more liquidity for our coin. If you might choose 3 exchanges to get COLX listed, what would be your top 3?
A: ColossusXT intends to be listed on all major exchanges globally. :)
Q: What is the future of privacy coins? What will be the future colx userbase (beyond the first adopters and enthusiasts)?
A: The future of privacy is the same it has always been. Privacy is something each and everyone person owns, until they give it away to someone else. Who is in control of your privacy? You or another person or entity?The future of the ColossusXT user base will comprise of early adopters, enthusiast, computer science professionals, artificial intelligence, and computational linguistics professionals for which these users can utilize the Colossus Grid a wide range of needs.
Q: Will ColossusXT join more exchanges soon??
A: Yes. :)
Q: So when will Colossus put out lots of advertisement to the various social media sites to get better known? Like Youtube videos etc.
A: As we get closer to a product launch of the Colossus Grid, you’ll begin to see more advertisements, YouTubers, and interviews. We’re looking to also provide some presentations at blockchain conferences in 2018, and 2019.
Q: In your opinion, what are some of the issues holding COLX back from wider adoption? In that vein, what are some of the steps the team is considering to help address those issues?
A: One of the main issues that is holding ColossusXT back from a wider adoption is our endgame is very different from other privacy coins. The Colossus Grid. In order to address this issue, the ColossusXT team intends to have a Colossus Grid Beta out by the end of Q4 and we will move development of the Colossus Grid from Q1 2019 to Q3 2018.
Q: Or to see it from another perspective - what are some of the biggest issues with crypto-currency and how does COLX address those issues?
A: Biggest issue is that cryptocurrency is seen as a means to make quick money, what project is going to get the biggest “pump” of the week, and there is not enough focus on building blockchain technologies that solve problems or creating legitimate business use cases.
For the most part we believe the base of ColossusXT supporters see our end-game, and are willing to provide us with the time and support to complete our vision. The ColossusXT team keeps its head down and keeps pushing forward.
Q: I know it's still early in the development phase but can you give a little insight into what to look forward to regarding In-wallet voting and proposals system for the community? How much power will the community have regarding the direction COLX development takes in the future?
A: The budget and proposal system is detailed in the whitepaper. Masternode owners vote on and guide the development of ColossusXT by voting on proposals put forth by the community and business partners.
Our goal is to make this process as easy and accessible as possible to our community.
Q: Will there be an article explaining the significance of each partnership formed thus far?
A: Yes, the ColossusXT team will announce partners on social media, and community outlets. A detailed article of what partnerships mean will be available on our Medium page: https://medium.com/@colossusxt
Q: What potential output from the Grid is expected and what would it's use be?
For example, x teraflops which could process y solutions to protein folding in z time.
A: There are many uses for grid computing. A crypto enthusiast mining crypto, a cyber security professional cracking a password using brute force, or a scientist producing climate prediction models.
The resources available to put towards grid projects will be determined by the number of nodes sharing resources, and the amount of resources an individual is willing to purchase with COLX.
All individuals will not have access to infinite grid resources.
Q: Is there a paper wallet available?
A: Yes, see https://mycolxwallet.org
Q: Is there a possibility of implementing quantum computer measures in the future?
A: This is a great idea for potentially another project in the future. Currently this is not possible with the Colossus Grid. Instead of bits, which conventional computers use, a quantum computer uses quantum bits—known as qubits. In classical computing, a bit is a single piece of information that can exist in two states – 1 or 0. Quantum computing uses quantum bits, or 'qubits' instead. These are quantum systems with two states. However, unlike a usual bit, they can store much more information than just 1 or 0, because they can exist in any superposition of these values.
Q: Do you plan to do a coin burn?
A: No future coin burns are planned. Anything like this would go through a governance proposal and Masternode owners would vote on this. This is not anything we’ve seen within the community being discussed.
Q: Can I check the exact number of current COLX master node and COLX staking node?
A: Yes. You can view the Masternodes and the amount of ColossusXT (COLX) being staked by viewing the block explorer.
Block explorer: https://chainz.cryptoid.info/colx/#!extraction
Q: What incentive could we give a youtuber to do the BEST video of ColossusXT (COLX)?
A: We've been approached by several YouTubers. The best thing a YouTuber can do is understand what ColossusXT is, join the community, ask questions if there is something they don't understand.
The problem with many YouTubers is that some of them are just trying to get paid, they don't really care to provide context or research a project.
Disclaimer: This is not all YouTubers, but many.
Q: In which ways is the ColossusGrid different from other supercomputer / distributed computing projects out there. Golem comes to mind. Thanks!
A: The main difference is that we are focused on the end users privacy, and the types of users that we will be targeting will be those that need more discretion / anonymity in their work. We are building framework that will continue to push the boundaries of user privacy as it relates to grid computing.
Q: Can we please complete our roadmap ahead of schedule? I find most other coins that do this actually excell in terms of price and community members. Keep on top of the game :)
A: The Colossus XT roadmap is a very fluid document, and it is always evolving. Some items are moved up in priority, and others are moved back. The roadmap should not be thought of something that is set in stone.
Q: Does COLX have master nodes?
A: Yes. ColossusXT has masternodes.
Q: Have thought about providing a method to insert a form of payment in colx in any page that wants to use cryptocurrencies in a fast and simple way in order to masive adoption????
A: There is already this option.https://mycryptocheckout.com/coins/
Q: What do you think your community progress till now?
A: The community has grown greatly in the last 3 months. We’re very excited to go from 13 to 100 questions in our quarterly AMA. Discord, Telegram, and Twitter are growing everyday.
Q: I noticed on Roadmap: Coinomi and ahapeshift wallet integration. Can you tell me more about this? I am new in crypto and new ColX investor so I don't know much about this. Thanks and keep a good work.
A: Coinomi is a universal wallet. ColossusXT will have multiple wallet platforms available to it. Shapeshift allows you to switch one crypto directly for another without the use of a coupler (BTC).
Q: Is "A general-purpose decentralized marketplace" written in the whitepaper the same as "E-COMMERCE MARKETPLACE" written on the roadmap?
Please tell me about "A general-purpose decentralized marketplace" or "E-COMMERCE MARKETPLACE" in detail.
A: Details will be posted as we get closer to the marketplace. It will be similar to other marketplaces within blockchain. Stay tuned for more information by following us on Twitter.
Q: History has shown that feature-based technologies always get replaced by technologies with platforms that incorporate those features; what is colossius big picture?
A: The Colossus Grid. Which has been explained within this AMA in a few different ways.
Q: What are the main objectives for COLX team this year? Provide me 5 reason why COLX will survive in a long term perspective? Do you consider masternodes working in a private easy to setup wallet on a DEX network? Already big fan, have a nice day!
A: Getting into Q3 our main object is to get a working product of the Colossus Grid by the end of Q4.
  1. Community - Our community is growing everyday as knowledge about what we’re building grows. When the Colossus Grid is online we expect expansion to grow at a rapid pace as users connect to share resources.
  2. Team - The ColossusXT team will continue to grow. We are stewards of a great community and an amazing project. Providing a level of support currently unseen in many other projects through Discord. The team cohesion and activity within the community is a standard we intend to set within the blockchain communities.
  3. Features - ColossusXT and The Colossus Grid will have user friendly AI. We understand the difficulties when users first enter blockchain products. The confusion between keys, sending/receiving addresses, and understanding available features within. Guides will always be published for Windows/Mac/Linux with updates so that these features can be easily understood.
  4. Colossus Grid - The Colossus Grid answers real world problems, and provides multiple solutions while also reducing energy consumption.
  5. Use Case - Many of the 1000+ other coins on the market don’t have the current use-case that ColossusXT has, let alone the expansion of utility use-cases in multiple sectors.
Q: Will the whitepaper be available in Portuguese?
A: Yes. We will be adding some language bounties to the website in the future. Stay tuned.
Q: Notice in your white paper there are future plans for decentralised governance and masternode voting. While all that is great, how do you plan on mitigating malicious proposals from getting through by gaming the system (i.e. bot votes, multiple accounts, spam,etc)?
A: You cannot game the system. Masternode owners get 1 vote.
Q: Been a massive fan of this project since Dec last year, anyways what was the reason you guys thought of putting XT at the end of Colossus. :)
A: XT symbolizes ‘extended’ as the coin was forked from the original Cv2 coin.
Q: Do you plan a partnership within the banking industry to capitalize on such large amounts of money being moved continuously?
A: The focus will be on the Colossus Grid and Grid computing, with the option to participate in the financial sector of Blockchain through Polis Pay, and other partnerships that can be announced in the future.
Q: When will be COLX supported By The Ledger Wallet?
A: Integration with cold storage wallet is planned. I myself (PioyPioyPioy) have a Nano Ledger S and I love it!
Q: Where do you see yourself in five years?
A: The goal 5 years from now would be to be a leading competitor in cloud computing and storage. Providing government, private cybersecurity, and individuals with efficient solutions to Super-computing, cloud storage through Blockchain infrastructure. I would like to see hardware options of connecting to the grid to utilize resources after the Colossus Grid is online, and I think this can contribute to many use-case scenarios.
Q: How can I suggest business partnerships and strategic ideas etc to the ColossusXT team?
A: Join us in Discord. Members of the team here are active daily, you can also contact us at: [[email protected]](mailto:[email protected])
Q: A great project requires good funding. How do you plan to incorporate fund sourcing and management into the long-term planning of this project
A: Check out our governance section within the whitepaper. :)
Website: https://colossusxt.io
Whitepaper: https://colossuscoinxt.org/whitepape
Roadmap: https://colossuscoinxt.org/roadmap/
Follow ColossusXT on:
Twitter: https://twitter.com/colossuscoinxt
Facebook Page: https://www.facebook.com/ColossusCoin/
Telegram: https://web.telegram.org/#/im?p=s1245563208_12241980906364004453
Discord: https://discord.gg/WrnAPcx
Apply to join the team: https://docs.google.com/forms/d/1YcOoY6nyCZ6aggJNyMU-Y5me8_gLTHkuDY4SrQPRe-4/viewform?edit_requested=true
Contribute an idea: https://colossusxt.fider.io/
Q2 AMA Questions: https://www.reddit.com/ColossuscoinX/comments/8ppkxf/official_colossusxt_ama_q2/
Previous AMA: https://www.reddit.com/ColossuscoinX/comments/8bia7o/official_colossusxt_ama/
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Noob's Guide To Bitcoin Mining - Super Easy & Simple - YouTube Inside The Cryptocurrency Revolution - YouTube Magic Money: The Bitcoin Revolution  Full Documentary ... Do you REALLY understand the Bitcoin Mempool? Programmer explains. BITCOIN CRASHING to $5'400!!? 18 CENTRAL BANKS EXPOSED TODAY!!!

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