Bitcoin: Is it Only Your Cryptocurrency or Tax Kryptonite?

Cryptocurrency NEO-review and analysis of prospects

Cryptocurrency NEO-review and analysis of prospects
The NEO digital asset platform was previously called Antshares. But in recent times, a complete rebranding has been made. In addition to the name change, the startup updated blockchain nodes and technical documentation, as well as the stock Ticker. In addition, the official website and social media were redesigned. The transition to a new version of the smart contract system, called NEO-2.0, was carried out.
The NEO cryptocurrency has been showing stable and non-stopping growth for a long time. Very quickly, the Chinese creation took seventh place in the top of Coinmarketcap. This, without a doubt, is a serious bid for prospects, given the high competition in the cryptocurrency market. And Ether confidently holds the second line after the famous Bitcoin. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
At the moment, the price fluctuates around $45. The cost for three months has increased 20 times.
The volumes of neo cryptocurrency reserves are clearly defined and limited to 100 million tokens. So far, only half of the available potential — 50 million tokens-is available on the market. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
The project is actively developing. OnChain cooperates with other players in the field of cryptocurrency and blockchain technologies. At the moment, there are connections with blockchain startups Coindash, Bancor, Agrello and others. The Chinese project Red Pulse has announced the creation of a financial research platform based on the NEO-2.0 smart contract system. Also, in cooperation with NEO, there is an intensive development of The Elastos operating system based on blockchain technologies.

THE history of the emergence and development of neo cryptocurrency
The date of origin of the project can be considered 2014. NEO Creator Da Hongfei is a Director of Shanghai-based OnChain. In 2014, onchain, according to Da Hongfei's idea, launches the AntShares blockchain project. On the basis of this platform, a cryptocurrency of the same name was also created.
Yes Junpei put to the company is simple, but a global problem. His goal was to build a fundamentally new system of financial interaction. This system should unite the sectors of the real and virtual economy into a single whole with the help of high-tech contracts. And cryptocurrency from OnChain should become a unit of payment for these contracts.
Soon OnChain enters into a contract for cooperation with the Wings blockchain project, as well as contracts with economic giants Microsoft and Alibaba.
In August 2017 begins the story of NEO already in its current form with the current name. Da Hongfei carried out a complete rebranding and technical modernization of the project. The rebranding was a huge success, and the price of cryptocurrency from OnChain soared 40 times.
But not without problems. On the fourth of September, the Chinese authorities adopt a package of sanctions laws against cryptocurrencies and ICO. It was a heavy blow, which at the time almost 2 times brought down the course of the brainchild of Hongfei. However, soon the NEO cryptocurrency moved away from the blow and began to confidently win back the lost positions. At the moment, OnChain is actively upgrading the product and simultaneously trying to find a compromise with the Chinese authorities for the legalization and quiet operation of its offspring.

Features and principle of operation NEO
From a technical point of view, the Chinese cryptocurrency is very similar to Ethereum. The basis of the platform is the construction of smart contracts and their subsequent payment with tokens. Also an important part of the project is the ability to create new technologies based on the platform, as well as easy integration with other services.
Despite the fact that NEO is often called "Chinese Ether" and the fact that the Ether still occupies a higher position in the ratings, the product from OnChain has advantages that the Ether lacks. NEO is much more practical and functional. This, no doubt, opens up the potential to move the Airwaves in the ratings in the near future.
Let's see in detail how everything works. Transactions within the system are possible when paying a Commission. The Commission is paid in-system currency. That is, for the transaction you have to throw in the system additional "fuel". The developers of OnChain decided to create an additional in-system currency, called GAS, as a fuel (a means of paying commissions).
NEO mining is impossible. There is a final coin value of 100 million. 50 million thrown on the market during the ICO. The second half of the developers keep at home. However, GAS mining is possible. However, it occurs when holding coins in a purse. That is, the more tokens you have, the more GAS coins you can get to pay commissions. Today, 2000 coins in the wallet accumulate 1 coin GAS every twenty-four hours. Such mining is associated with the work of the network on the Proof-Of-Stake algorithm. Coins generate themselves. Without the use of farms of video cards and megawatts of electricity.

Like any cryptocurrency, NEO has advantages and disadvantages.
The benefits of NEO:
  • the publicity of the company and experienced team;
  • contracts and cooperation with corporate giants;
  • a wide functionality, much superior to the functionality of Ether (it is difficult for a simple person to understand what the salt is, but for a specialist NEO opens the widest horizons for development and operations);
  • activity in meetings and seminars;
  • active struggle of OnChain for legalization (although there are some problems with this now in China, however, there is a high probability that soon all issues with the government will be settled, which will attract large investors and significantly increase the already considerable capitalization of NEO).
The shortcomings of NEO:
  • all gas storage nodes belong to OnChain, that is, NEO is a centralized structure, although it is served as decentralized, this means that blockchains are in the hands of a narrow circle;
  • OnChain has the technical ability to monitor the transactions of coin owners, transmit information to the authorities, as well as personally block funds in users ' accounts and regulate the rate.
However, there are great economic and technical prospects for the development and increase in the price of the coin.

Difference between NEO and Bitcoin
The main points that distinguish NEO from Bitcoin:

  • Direct mining of NEO is not feasible, you can only mine GAS to pay commissions.
  • Bitcoin mining depends on the power of the technical base of the miner. The larger the pool of farms from video cards, the more active is the production. In the NEO system, gas mining occurs exclusively due to the presence of coins in the wallet.
  • To organize a large Bitcoin mining requires large purchases of iron and organization of production (supply of high-power power supply line, cooling system, etc.). A direct injection of investment is sufficient for the development of GAS. Each purchased 2000 coins of "Chinese ether" will steadily accumulate exactly 1 coin of GAS per day.
  • Bitcoin has the most decentralized system of blockchains, as opposed to pseudo-centralization of NEO.
  • The processing speed of one NEO block is only 15 seconds. For bitcoin-as much as ten minutes. In the future, it is predicted to accelerate the processing of blocks for NEO to 1 second.
Despite the risks associated with the organization of blockchains, NEO remains a very promising platform in the cryptocurrency market.

NEO storage wallets

On the official NEO website you can find links to the following wallets.
  1. Wallet NEON-Wallet from the group of independent developers City of Zion. Quite good, but the factor of third-party development and the presence of bugs impose their risks.
  2. NEO-CLI. This wallet is recommended only for programmers and people who are good at command line.
  3. NEO-GUI. The best option for the average user. To use it, you need to download the application, synchronize the blockchains and make a backup of the wallet. All. Now you can safely carry out financial transactions using Chinese kryptonite.
There is also the option of storing directly on the exchanges, however it is risky. Also, holding coins on an exchange rather than in a personal NEO wallet will not generate GAS.

NEO: buying and sharing
NEO can be bought and sold on exchanges or exchanged in multi-currency wallets. The most famous exchanges:

  • Bittrex;
  • Binance;
  • CoinSpot;
  • YONBI;
  • JUBI;
  • Yuanbao;
  • 51szzc;
  • Yobtc.
As the value and popularity of NEO increases, a massive increase in trading platforms where you can buy or sell "Chinese Ether" is predicted.

Ways to get NEO

Unfortunately, at the moment there is no way FOR direct NEO mining in the manner of Bitcoins and Ether.
However, there is a way out. NEO cranes can be used. Cranes are resources where the user receives a cryptocurrency reward for performing certain tasks or participating in lotteries.
There is a high probability that if successful in the legalization negotiations, OneChain will provide additional ways to get their tokens.
As you can see, NEO is a very promising and rapidly developing cryptocurrency. And although the Chinese government has created some difficulties, on the example of Bitcoin, we see how high the rate of the crypto currency can rise if the factors interfering with the development disappear. So, the prospects of NEO are optimistic and you can risk investing in them.
submitted by AVAY11 to u/AVAY11 [link] [comments]

The Forbidden Truth: Nodes can loosen their consensus rulesets (e.g., increase their block size limits) without asking for permission or waiting for "consensus." [More censorship on the bitcoin-dev list]

Tom Zander began an interesting discussion on the Bitcoin-Dev mailing list when he announced the release of Bitcoin Classic 1.2.0. There was debate that such an announcement was inappropriate, arguing that because new Classic nodes would immediately begin accepting blocks larger than 1 MB, that Classic was incompatible with Bitcoin [which is untrue].
Although discussion is still taking place on that email thread, as usual my email was rejected. Here is what I wrote:
What many people forget is that common nodes can enforce a (strictly) looser rule set than mining nodes, and still be guaranteed to track consensus. We use this often-overlooked fact to our advantage when rolling out soft forks: after the miners begin enforcing a new rule, non-upgraded common nodes will be enforcing a looser rule set until they upgrade. We know from experience that this situation—where some nodes enforce less rules than the mining majority—is both safe and a practical way to reduce the coordination required to implement protocol upgrades.
Classic (and Unlimited) are using this fact that common nodes can enforce a looser rule set to reduce the coordination required for a future increase in MAX_BLOCK_SIZE. It is a commitment strategy that allows node operators to signal their preferences to the network. As more and more node operators stop enforcing the 1 MB limit, it will gradually become much less risky for miners to try mining a block larger than 1 MB to see if it is accepted into the Blockchain.
For the market for consensus to function properly and allow Bitcoin to grow, node operators are encouraged to stop enforcing any rule they believe is hindering Bitcoin. They don’t need to ask for permission or wait for “consensus." If enough node operators feel the same way, then that rule will no longer be a rule.
Best regards, Peter
Incidentally, I've tried to post on this topic twice before and both emails were also rejected. See here and here.
Blockstream/Core knows that their control over the network relies on perpetuating the false notion that it is "unsafe" for node operators to take matters into their own hands when it comes to consensus parameters. The fact that node operators can independently elect to stop enforcing any rule is kryptonite to the small-block narrative, and so they need to fool us into believing that Bitcoin is fragile and that nodes cannot deviate from their "consensus." They ostracize community members who express their individual preferences (unless of course they happen to align with those of Blockstream/Core) even though it is critical for members of a decentralized network like Bitcoin to communicate their genuine preferences in order to evolve.
What is so frightening to Blockstream/Core is their knowledge that Coinbase/BitPay/BitStamp/Xapo/etc could announce tomorrow that "EFFECTIVE IMMEDIATELY: OUR NODES NOW ACCEPT UP TO 8MB BLOCKS" without any significant risk. In fact, this would be a great act of leadership, precipitating other nodes to fall inline and increase their block size limits as well. Eventually, it would be clear as day that the 1 MB restriction on the size of blocks is no longer important. Miners would be free to produce bigger blocks, allowing Bitcoin to break free from its three-transactions-per-second shackles.
Here is a great article on this topic that deserved more attention:
submitted by Peter__R to btc [link] [comments]

Superman vs. Bitcoin

Superman develops a sudden, irrational hatred for Bitcoins, and sets out to completely destroy the Bitcoin economy in whatever way he can. His goal is to utterly strip bitcoins of all value, or at least come as close to it as he can, and to totally discredit it as any form of currency or medium of exchange.
Superman is mostly in-character, and will not kill under any circumstances. However, he is willing to break the law as long as it doesn't significantly hurt anyone (outside of any damage done by the loss of Bitcoin's value, which he is obviously utterly indifferent to) and provided he isn't caught.
Additionally, he doesn't want anyone to find out he is responsible for this. Assume that no other superhero or super-powered being will investigate or care, but if ordinary people find out he's responsible, he loses.
How much damage can Superman do to the Bitcoin economy?
R1. Superman can use whatever tactics he pleases, within the above constraints.
R2. Superman's hatred of Bitcoins means that he will not participate in the economy himself by any means - he won't purchase, mine for, or legitimately interact with the Bitcoin market in any way, shape, or form. However, in this round, he is willing to cause damage by breaking the law, as long as he doesn't kill anyone.
R3. Superman is bloodlusted and willing to kill anyone who owns or has ever owned a Bitcoin in order to stop Bitcoins. He has 24 hours. He still loses if it's generally discovered that he's responsible, and he won't kill anyone who has never interacted with Bitcoins (so no just throwing the earth into the sun.)
R4. As R1, but Batman has converted the entire Wayne family fortune into Bitcoins and is now determined to protect them. Both Batman and Superman are in-character otherwise, won't harm each other if they can help it (outside of Superman hurting Batman financially by crashing the value of his Bitcoins, of course), and won't kill each other under any circumstances. Batman will not out Superman as the source of the problem regardless of the situation. No Kryptonite or other things that nullify Superman's powers.
submitted by Yglorba to whowouldwin [link] [comments]

Rebuttal to Roger Ver's points made on Mad Bitcoins interview (And partial transcript)

Here are some of the items Roger said that I found interesting and/or worthy of debate and also some quick responses. All in all I think this was a much better presentation of his argument (though still flawed IMO). I took the time to transcribe some of his statements (There may be errors, memorydealers I would be happy to correct anything I quoted that is wrong)
I left my responses purposefully brief. I am hoping others can add details or extend them to further prove or disprove any statement (including stuff I wrote that's wrong or that you disagree with). I am hoping that someone from core goes on with Mad Bitcoins tomorrow night.
@3:00 "So anybody that thinks that high fees, and slow confirmations and full blocks are a good thing for bitcoin, they are plain and simple wrong and they don't understand the things that make bitcoin useful as money."
@3:14 "And people talk about, well bitcoin is a store of value. Well the only reason people want to save money is so they can spend it later and if bitcoin becomes not usable as a means of exchange so people won't want to save their wealth in it either...If bitcoin can't be used a medium of exchange, it won't be used as a store of value"
@6:30 "Either they can mine an empty block during that time period while the block is being propagated and validated or they don't mine at all so as a miner its very very clear it would be better to mine an empty block and get the 12.5 coins from that than to not mine at all during that period and have no chance of getting a block..."
[continued] "...Its actually a nice way of slowing the network down from getting ahead of itself, if the blocks are too big and they are propagating around and its taking too long for people to get a whole copy of them the fact that a pool is mining an empty block, it lets rest of the network catch back up because the empty block propagates very quickly and it can be validated very quickly so it lets the whole bitcoin network catch back up to where things are supposed to be. So its actually kind of a nice safety valve for slowing the down the speed of the transaction rate on the bitcoin network if needed."
"@8:30 So right now the block size is set by a couple dozen core dev who decided who have decided the maximum size is 1MB"
@9:30 "Also, all the mining pool operators are running nodes as well and those are the ones that actually secure the network and validate the blocks and do that"
@9:47 "That's probably why this whole debate hasn't been settled already because there is not any one specific place you can point too and say this is who is in charge of solving this issue."
@10:40 "as were seeing from this current scaling debate there is this huge huge huge motivation for everybody to stay on the same chain and be part of the same bitcoin network, so even once the users are able to configure this themselves, I think 99% are still gonna stay on the same chain"
@12:55 "The developers at bu come up with an amazing technology called extreme thin blocks"
@15:20 "I think bitcoin mining is more decentralized than ever"
@18:02 "The things segwit solves/the issues it addresses aren't things that need to be fixed urgently"
@20:02 "If you're hard forking for a good reason, it's not contentious"
@20:58 "Lets say it somehow splits at 50/50 .... blocks will take 20 minutes to confirm. The transaction capacity will be half."
@23:14 "And if you have an opinion like i do on this as to which version of bitcoin is the better one. I will sell my coins on the slow expensive core chain...bitcoin unlimited coins will be so much more useful because you actually be able to send and receive them with people unlike the bitcoin core coins on this congested network that cost a fortune and take for ever to move the bitcoins"
@30:52 "And the miners, the majority if their income is from the block reward and not from the fees on the network and the will continue to be the case for like the next 100 years."
@31:02 "And its worth pointing out that the bitcoin unlimited guys they are not opposed to layer 2 technologies at all, we're excited about layer 2 tech...but our point is don't strangle bitcoins layer that brought us from nothing to where are today"
@32:12 "Whereas a lot of the core developers today are actively saying that they want to damage the bitcoin that brought to where we are today"
@33:16 "People that are part of bitcoin core are part of bitcoin core are openly and intentionally advocating for high fees and full blocks, thats kryptonite for bitcoin"
@38:12 "So for me I think its time to switch to BU, A dev team that understands why bitcoin is useful as money"
@40:23 "the bitcoin core camp seem to think that bitcoin will only be used as a store of value, so they are undermining its usefulness in commerce"
@44:40 [Regarding BU Bug Fix removed from /bitcoin] "I think everyone involved with bitcoin should condemn that sort of activity"
@49:06 Right now you can run bitcoin on a raspi for $25
@49:12 "My understanding of their side is...I guess they have 2 [concerns]...One concern they have is that they think that bitcoin network is going to become centralized."
(paraphrased) Bigger blocks = more people = more decentralization
"As soon as the user experiences started to decline (slow confirmation, high fees), adoption has started to decline"
@51:50 "bu will have"
submitted by onthefrynge to Bitcoin [link] [comments]

How the Crypto Currency impacted Venezuela during 2017 - 2018

Traditionally, society has perceived the use of money as the physical representation of it, however, with technological advances; the use of cards was achieved through a database registered with a bank to handle balance movements.
However, the global economy is adapting to new technological and social developments that have led to a new structure: blockchain technology. Turning economic transactions into decentralized, transparent and incorruptible exchanges.
As seen in the documentary Banking on Bitcoin, original by Netflix and released in 2017, which tells through interviews with various experts how cryptocurrency produced a market and destabilized the monopolization of banks with respect to the world economy. Presenting this scenario, and looking to Venezuela, a country that is currently on a very high price rise, what Professor Philip Cagan of Columbia University called in his 1956 article as hyperinflation, because the rate of price increase is more than 50% per month, positions the South American country as one of the 56 documented cases in the world with this type of inflationary decontrol compared to that suffered by Germany in 1920 when the exchange rate reached 2 billion German marks for every US dollar.
Venezuela, with an estimated inflation rate of 1000000000 per cent per annum by August 2018, has a hyperinflationary stability that includes not only the state of the economy, but also politics, social welfare and a general crisis in the control of prices of basic necessities.
This scenario provoked protests in the country last year 2017 in which many people took the streets to express their discontent, demanding an acceptable quality of life, however, the result of these protests was approximately 127 dead, 3000 wounded and more than 2500 detained.
At the end of that year, the re-elected president, Nicolas Maduro, proposed in December the launch of the Crypto currency Petro as part of the economic measures to solve the economic crisis that the country was going through, which would have the value of a barrel of oil according to the OPEP balance.
However, the U.S. government enacted a sanction for those who would like to invest in this crypto, being Americans, because of the various diplomatic conflicts between the countries. This influenced the other countries not to invest in this project.
Due to this initiative on the part of the Venezuelan government, the cryptocurrency were positioned in the public opinion and diverse people saw this as an opportunity of business, generating great amounts of dollars with the import of machines to mine bitcoins in the country, this phenomenon had a rise, product of the high profitability of the basic services like the electricity and the gasoline, that in comparison with the rest of Latin America and the world are positioned far below.
Parallel to the emergence of this business Satoshis are sold for dollars through groups in Telegram and those dollars are exchanged for Sovereign Bolivars, currently 1$ = 100 sovereign Bolivars. Perhaps this is the first step for the adoption of cryptocurrency in the Venezuelan economy as a sustainable alternative to generate greater accessibility to the purchasing power of Venezuelans.
Achieving the adoption of cryptomonedas in Venezuelan society offers the following benefits:
1 - Venezuela have a large number of people who decided to leave the country in search of a better quality of life. Usually, they send remittances to their relatives from abroad but the commission is very large for making the transaction, which is why crypts are an excellent way to send money, instantly, securely and without intermediaries. 2 - Due to hyperinflation, banks do not offer their customers the opportunity to withdraw enough money in banknotes. To understand this subject a little, here is an article. Usually people line up long lines to withdraw money. Thanks to crypto currency, this system can be erase it to achieve exchanges and reciprocal digital fluctuation between traders and customers... Directly to people with the QR code.
3 - It can act as a humanitarian channel to help people buy food or medicine through donations. In spite of the scarcity of food and medicine, this has proved to be an excellent channel that allows the solidarity of the communities that make up the kryptonite movement worldwide.
submitted by criptocuberos to venezuela [link] [comments] Multi Coin Mining Pool now open!
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submitted by GoldMin_es to CryptoCurrency [link] [comments]

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Bitcoin-Mining ist ein Geschäft mit einer sehr grossen Konkurrenz. Mining macht nur Sinn, wenn Sie es aus Spass machen und es Ihnen nicht so wichtig ist, ob Sie Profit daraus schlagen. Es ist aber auch möglich, dass Sie es sehr effektiv betreiben und davon profitieren. Um Bitcoin Mining zu betreiben, müssen Sie einem Miningpool beitreten, was zusätzliche Kosten verursacht. Für das Mining benötigen Sie entsprechende Hardware. Auch hier kommen Kosten auf Sie zu. Je nachdem, wie leistungsfähig Ihr Bitcoin Miner sein soll, zahlen Sie bis zu 2.000 Euro. Es ist nicht bekannt, ob sich Mining auch in Zukunft noch lohnen wird. Wenn Sie nicht genau wissen, was ... Bitcoin Mining ist ein Prozess, bei dem Rechenleistung zur Transaktionsverarbeitung, Absicherung und Synchronisierung aller Nutzer im Netzwerk zur Verfügung gestellt wird. Das Mining ist eine Art dezentrales Bitcoin-Rechenzentrum mit Minern auf der ganzen Welt. Dieser Prozess wird analog zum ... Crypto skeptics have always hailed quantum computing to be a Kryptonite for Bitcoin. But the world still hasn’t seen a fully-operational quantum computer with commercial implications to truly challenge Bitcoin’s dominance as a digital currency. As per Anastasia Marchenkova, a quantum physicist, the... In Bitcoin and other altcoins where the full blockchain is required to synchronize with the network, small value transactions and transaction messages tend to be discouraged because they cause “blockchain bloat”. The scalable nature of the mini-blockchain scheme relieves us from the concern of blockchain bloat and we can have full support for transaction messages and micro-transactions ...

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Webinar Criptomonedas y Minería de BITCOIN

This is an overview of LINDA coin that will knock off Verge (XVG). The video will show you about it's working wallet that has stealth address and stakes and ... Objectif 50 like Y A QUE LES RAGEUX QUI DISLIKE Dans cette video On assault la farm de ChasseurDeTulipe et titouxtv sur kryptonia objectif 50 like Pour un letsplay kryptonia. Skip navigation Sign in. Search What is Bitcoin? If you already know what Bitcoin is, now you can be part of the most lucrative business opportunity worldwide. Welcome to Kryptonbit. Keys marketing 101 Bitcoin/Altcoin/Scrypt Coin Mining Rigs, looking for key investors for a very lucrative income with Mining Rigs. Johnathan Keys has the blueprint to building these mining rigs,...