security - Bitcoin Stack Exchange

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

Update TKEYSPACE 1.3.0 on Android

Update TKEYSPACE 1.3.0 on Android

https://preview.redd.it/6w93e0afttx41.png?width=1400&format=png&auto=webp&s=c00989612ec2d52eb522405e6b6a98bf875e08bb
Version 1.3.0 is a powerful update to TkeySpace that our team has been carefully preparing. since version 1.2.0, we have been laying the foundation for implementing new features that are already available in the current version.
Who cares about the security and privacy of their assets is an update for you.
TkeySpace — was designed to give You full control over your digital assets while maintaining an exceptional level of security, which is why there is no personal data in the wallet: phone number, the email address that could be compromised by hackers — no identity checks and other hassles, just securely save the backup phrase consisting of 12 words.

Briefly about the TkeySpace 1.3.0 update :

  • Code optimization and switching to AndroidX;
  • New section-Privacy;
  • Built-in TOR;
  • Selecting the privacy mode;
  • Selecting the recovery method for each currency;
  • Choosing the address format for Litecoin;
  • Enhanced validation of transactions and blocks in the network;
  • Disk space optimization;
  • Accelerated syncing;
  • Checking “double spending”;
  • The bloom filter to check for nodes;
  • Updating the Binance and Ethereum libraries;
  • A function to hide the balance;
  • Advanced currency charts;
  • Access to charts without authentication;
  • News section;
  • Browser for Tkeycoin;
  • Independent Commission entry for Bitcoin;
  • New digital currencies;
  • Digital currency exchange tab.

Code optimization and switching to AndroidX

A lot of work has been done on optimizing the code to speed up the application, improving the logic, synchronization speed, calculating the hash of cryptocurrencies, and successfully switching to AndroidX.

https://preview.redd.it/h3go5tzgttx41.png?width=1100&format=png&auto=webp&s=bf311efc73e3577c80f06a21d6b9317bb93ae989

New section: Privacy

  • Enable Tor;
  • Blockchain transaction (the selection of the privacy mode);
  • Blockchain recovery (choosing a recovery method);
https://preview.redd.it/iydfwuhittx41.png?width=1080&format=png&auto=webp&s=2ce7c489d893a2ab6b9d6fede57d8b94404edcfb

TOR

Starting with the current update, the TkeySpace wallet can communicate via the TOR network, includes new privacy algorithms, and supports 59 different currencies.

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Tor is a powerful privacy feature for those who own large assets or live in places where the Internet is heavily censored.
Tor technology provides protection against traffic analysis mechanisms that compromise not only Internet privacy, but also the confidentiality of trade secrets, business contacts, and communications in General.
When you enable TOR settings, all outgoing traffic from the wallet will be encrypted and routed through an anonymous network of servers, periodically forming a chain through the Tor network, which uses multi-level encryption, effectively hiding any information about the sender: location, IP address, and other data.
This means that if your provider blocks the connection, you can rest easy — after all, by running this function, you will get an encrypted connection to the network without restrictions.

https://preview.redd.it/w9y3ax4mttx41.png?width=960&format=png&auto=webp&s=972e375fc26d479e8b8d2999f7659ec332e2af55
In TOR mode, the wallet may work noticeably slower and in some cases, there may be problems with the network, due to encryption, some blockchain browsers may temporarily not work. However, TOR encryption is very important when Internet providers completely block traffic and switching to this mode, you get complete freedom and no blocks for transactions.

Confidentiality of transactions (the Blockchain transaction)

The wallet can change the model of a standard transaction, mixing inputs and outputs, making it difficult to identify certain cryptocurrencies. In the current update, you can select one of several modes for the transaction privacy level: deterministic lexicographic sorting or shuffle mode.

Mode: Lexicographic indexing

Implemented deterministic lexicographic sorting using hashes of previous transactions and output indexes for sorting transaction input data, as well as values and scriptPubKeys for sorting transaction output data;
We understand that information must remain confidential not only in the interests of consumers but also in higher orders, financial systems must be kept secret to prevent fraud. One way to address these privacy shortcomings is to randomize the order of inputs and outputs.
Lexicographic ordering is a comparison algorithm used to sort two sets based on their Cartesian order within their common superset. Lexicographic order is also often referred to as alphabetical order or dictionary order. The hashes of previous transactions (in reverse byte order) are sorted in ascending order, lexicographically.
In the case of two matching transaction hashes, the corresponding previous output indexes will be compared by their integer value in ascending order. If the previous output indexes match, the input data is considered equal.

Shuffle Mode: mixing (random indexing)

To learn more about how “shuffle mode” works, we will first analyze the mechanisms using the example of a classic transaction. Current balance Of your wallet: 100 TKEY, coins are stored at different addresses:
x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
Addresses in the blockchain are identifiers that you use to send cryptocurrency to another person or to receive digital currency.
In a classic transaction, if you need to send, for example, 19 TKEY — 100 TKEY will be sent to the network for “melting” coins, 19 TKEY will be sent to the Recipient, and ~80.9 TKEY will return to the newly generated address for “change” in your wallet.

https://preview.redd.it/x595qwdottx41.png?width=806&format=png&auto=webp&s=d9c2ae5620a3410ed83f7e16c018165c8ab35844
In the blockchain explorer, you will see the transaction amount in the amount of 100 TKEY, where 80.99999679 TKEY is your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee. Thus, in the blockchain search engine, most of your balance is shown in the transaction.

How does the shuffle mode work?

Let’s look at a similar example: you have 100 TKEY on your balance, and you need to send 19 TKEY.
x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
You send 19 TKEY, the system analyzes all your addresses and balances on them and selects the most suitable ones for the transaction. To send 19 TKEY, the miners will be given coins with x2. Addresses, for a total of 20 TKEY. Of these, 19 TKEY will be sent to the recipient, and 0.99999679 TKEY will be returned to Your new address as change minus the transaction fee.

https://preview.redd.it/doxmqffqttx41.png?width=1400&format=png&auto=webp&s=5c99ec41363fe50cd651dc0acab05e175416006a
In the blockchain explorer, you will see the transaction amount in the amount of 20 TKEY, where 0.99999679 TKEY is Your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee.
The shuffle mode has a cumulative effect. with each new transaction, delivery Addresses will be created and the selection of debit addresses/s that are most suitable for the transaction will change. Thus, if you store 1,000,000 TKEY in your wallet and want to send 1 TKEY to the recipient, the transaction amount will not display most of your balance but will select 1 or more addresses for the transaction.

Selecting the recovery method for each digital currency (Blockchain restore)

Now you can choose the recovery method for each currency: API + Blockchain or blockchain.
Note: This is not a syncing process, but rather the choice of a recovery method for your wallet. Syncing takes place with the blockchain — regardless of the method you choose.
https://preview.redd.it/gxsssuxrttx41.png?width=1080&format=png&auto=webp&s=cd9fe383618dda0e990e86485652ff95652a8481

What are the differences between recovery methods?

API + Blockchain

In order not to load the entire history of the blockchain, i.e. block and transaction headers, the API helps you quickly get point information about previous transactions. For example, If your transactions are located in block 67325 and block 71775, the API will indicate to the node the necessary points for restoring Your balance, which will speed up the “recovery” process.
As soon as the information is received, communication with the peers takes place and synchronization begins from the control point, then from this moment, all subsequent block loading is carried out through the blockchain. This method allows you to quickly restore Your existing wallet.
‘’+’’ Speed.
‘’-’’ The API server may fail.

Blockchain

This method loads all block headers (block headers + Merkle) starting from the BIP44 checkpoint and manually validates transactions.
‘’+’’ It always works and is decentralized. ‘’-’’ Loading the entire blockchain may take a long time.

Why do I need to switch the recovery method?

If when creating a wallet or restoring it, a notification (!) lights up in red near the selected cryptocurrency, then most likely the API has failed, so go to SettingsSecurity CenterPrivacyBlockchain Restore — switch to Blockchain. Syncing will be successful.

Selecting the address format

You can choose the address format not only for Bitcoin but also for Litecoin. Legacy, SegWit, Native SegWit. Go to SettingsManage WalletsAddress Format.

https://preview.redd.it/nqj0nwutttx41.png?width=1080&format=png&auto=webp&s=fc04b8ee8339ab27d3203ff551013cda7aa9e8db

Working at the code level

Enhanced validation of transactions and blocks in the network

Due to the increased complexity in the Tkeycoin network, we have implemented enhanced validation of the tkeycoin consensus algorithm, and this algorithm is also available for other cryptocurrencies.

What is the advantage of the enhanced validation algorithm for the user

First, the name itself speaks for itself — it increases the security of the network, and second, by implementing the function — we have accelerated the work of the TkeySpace blockchain node, the application consumes even fewer resources than before.
High complexity is converted to 3 bytes, which ensures fast code processing and the least resource consumption on your device.

Synchronization

The synchronization process has been upgraded. Node addresses are added to the local storage, and instant synchronization with nodes occurs when you log in again.

Checking for double-spending

TkeySpace eliminates “double-spending” in blockchains, which is very valuable in the Bitcoin and Litecoin networks.
For example, using another application, you may be sent a fake transaction, and the funds will eventually disappear from the network and your wallet because this feature is almost absent in most applications.
Using TkeySpace — you are 100% sure that your funds are safe and protected from fraudulent transactions in the form of “fake” transactions.

The bloom filter to check for nodes

All nodes are checked through the bloom filter. This allows you to exclude fraudulent nodes that try to connect to the network as real nodes of a particular blockchain.
In practice, this verification is not available in applications, Tkeycoin — decided to follow a new trend and change the stereotypes, so new features such as node verification using the bloom filter and double-spending verification are a kind of innovation in applications that work with cryptocurrencies.

Updating the Binance and Ethereum libraries

Updated Binance and Ethereum libraries for interaction with the TOR network.

Interface

Function — to hide the balance

This function allows you to hide the entire balance from the main screen.

Advanced currency charts and charts without authentication

Detailed market statistics are available, including volumes, both for 1 day and several years. Select the period of interest: 1 day, 7 days, 1 month, 3 months, 6 months, 1 year, 2 years.
In version 1.3.0, you can access charts without authentication. You can monitor the cryptocurrency exchange rate without even logging in to the app. If you have a pin code for logging in, when you open the app, swipe to the left and you will see a list of currencies.

https://preview.redd.it/f3thqv1wttx41.png?width=1080&format=png&auto=webp&s=1906307f7ad1fd6db47bf270ce7c57185267b1a3

News

In the market data section — in the tkeyspace added a section with current news of the cryptocurrency market.

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Blockchain Explorer for Tkeycoin

Transaction verification for Tkeycoin is now available directly in the app.

Independent Commission entry for Bitcoin

Taking into account the large volume of the Bitcoin network, we have implemented independent Commission entry — you can specify any Commission amount.
For other currencies, smart Commission calculation is enabled based on data from the network. The network independently regulates the most profitable Commission for the sender.

New digital currencies

The TkeySpace wallet supports +59 cryptocurrencies and tokens.

Cryptocurrencies

Tkeycoin (TKEY), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), DASH, Binance (BNB), EOS.

Stablecoins

TrueUSD (TUSD), Tether USD (USDT), USD Coin (USDC), Gemini Dollar (GUSD), STASIS EURO (EURS), Digix Gold Token (DGX), Paxos Standard (PAX), PAX Gold (PAXG), Binance USD (BUSD), EOSDT, Prospectors Gold (PGL).

ERC-20, BEP2, and EOS tokens

Newdex (NDX), DigixDAO ERC-20 (DGD), Chainlink ERC-20 (LINK), Decentraland ERC-20 (MANA), EnjinCoin ERC-20 (ENJ), the Native Utility (NUT), 0x Protocol ERC-20 (ZRX), Aelf ERC-20 (ELF), Dawn DAO ERC-20 (AURA), Cashaaa BEP2 (CAS), Bancor ERC-20 (BNT), the Basic Attention Token ERC-20 (BAT), Golem ERC-20 (GNT), Mithril ERC-20 (MITH), MEETONE, NEXO ERC-20, Holo ERC-20 (HOT), Huobi Token ERC-20 (HT), IDEX ERC-20, IDEX Membership ERC-20 (IDXM), Bitcoin BEP2 (BTCB), Waltonchain ERC-20 (WTC), KuCoin Shares ERC-20 (KCS), Kyber Network Crystal ERC-20 (KNC), Loom Network ERC-20 (LOOM), Ripple (XRP), Everipedia (IQ), Loopring ERC-20 (LRC), Maker ERC-20 (MKR), the Status of the ERC-20 (SNT), Ankr Network BEP2 (ANKR), OmiseGO ERC-20 (OMG), ^ american English ERC-20 (^american English), Polymath ERC-20 (POLY), Populous ERC-20 (PPT), Pundi X ERC-20 (NPXS), Parser ERC-20 (REP), Revain ERC-20 (R), Binance ERC20 (BNB-ERC20), Gifto BEP2 (GTO).

Exchange of cryptocurrency

The “Limitless Crypto Exchange” tab is available for a quick transition to an unlimited exchange in 200 digital currencies — 10,000 currency pairs.

How do I update TkeySpace to version 1.3.0?

  1. Go to Google Play on your device — My apps and games — find TkeySpace in the list of apps — click Update.
  2. Go to Google Play on your device-write TkeySpace in the search — click on the app icon — Update.
After the update, you will need to restore your wallet.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

TKEYSPACE — blockchain in your mobile

TKEYSPACE — blockchain in your mobile

https://preview.redd.it/w8o3bcvjrtx41.png?width=1400&format=png&auto=webp&s=840ac3872156215b30e708920edbef4583190654
Someone says that the blockchain in the phone is marketing. This is possible for most applications, but not for Tkeycoin. Today we will talk about how the blockchain works in the TkeySpace app.
Who else is not in the topic, TkeySpace is a financial application for decentralized and efficient management of various cryptocurrencies, based on a distributed architecture without using a client-server.
In simple words, it is a blockchain in the user’s mobile device that excludes hacking and hacker attacks, and all data is encrypted using modern cryptographic methods.
https://preview.redd.it/8uku6thlrtx41.png?width=1280&format=png&auto=webp&s=e1a610244da53100a5bc6b821ee5c799c6493ac4

Blockchain

Let’s start with the most important thing — the blockchain works on the principles of P2P networks, when there is no central server and each device is both a server and a client, such an organization allows you to maintain the network performance with any number and any combination of available nodes.
For example, there are 12 machines in the network, and anyone can contact anyone. As a client (resource consumer), each of these machines can send requests for the provision of some resources to other machines within this network and receive them. As a server, each machine must process requests from other machines in the network, send what was requested, and perform some auxiliary and administrative functions.
With traditional client-server systems, we can get a completely disabled social network, messenger, or another service, given that we rely on a centralized infrastructure — we have a very specific number of points of failure. If the main data center is damaged due to an earthquake or any other event, access to information will be slowed down or completely disabled.
With a P2P solution, the failure of one network member does not affect the network operation in any way. P2P networks can easily switch to offline mode when the channel is broken — in which it will exist completely independently and without any interaction.
Instead of storing information in a single central point, as traditional recording methods do, multiple copies of the same data are stored in different locations and on different devices on the network, such as computers or mobile devices.

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This means that even if one storage point is damaged or lost, multiple copies remain secure in other locations. Similarly, if one part of the information is changed without the consent of the rightful owners, there are many other copies where the information is correct, which makes the false record invalid.
The information recorded in the blockchain can take any form, whether it is a transfer of money, ownership, transaction, someone’s identity, an agreement between two parties, or even how much electricity a light bulb used.
However, this requires confirmation from multiple devices, such as nodes in the network. Once an agreement, otherwise known as consensus, is reached between these devices to store something on the blockchain — it can’t be challenged, deleted, or changed.
The technology also allows you to perform a truly huge amount of computing in a relatively short time, which even on supercomputers would require, depending on the complexity of the task, many years or even centuries of work. This performance is achieved because a certain global task is divided into a large number of blocks, which are simultaneously performed by hundreds of thousands of devices participating in the project.

P2P messaging and syncing in TkeySpace

TkeySpace is a node of the TKEY network and other supported networks. when you launch the app, your mobile node connects to an extensive network of supported blockchains, syncs with full nodes to validate transactions and incoming information between nodes, so the nodes organize a graph of connections between them.
You can always check the node information in the TkeySpace app in the ⚙ Settings Contact and peer info App Status;

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TkeySpace creates initiating connections to servers registered in the blockchain Protocol as the main ones, from these servers it gets the addresses of nodes to which it can join, in turn, the nodes to which the connection occurred share information about other nodes.

https://i.redd.it/m21pw88srtx41.gif
TkeySpace sends network messages to nodes from supported blockchains in the app to get up-to-date data from the network.
The Protocol uses data structures for communication between nodes, such as block propagation over the network, so before network messages are read, nodes check the “magic number”, check the first bytes, and determine the type of data structure. In the blockchain, the “magic number” is the network ID used to filter messages and block traffic from other p2p networks.
Magic numbers are used in computer science, both for files and protocols. They identify the type of file/data structure. A program that receives such a file/data structure can check the magic number and immediately find out the intended type of this file/data structure.
The first message that your node sends is called a Version Message. In response, the node waits for a Verack message to establish a connection between other peers. The exchange of such messages is called a “handshake”.

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After the “handshake” is set, TkeySpace will start connecting to other nodes in the network to determine the last block at the end of the required blockchain. At this point — nodes request information about blocks they know using GetBlock messages — in response, your node receives an inv (Inventory Message) from another node with the information that it has the information that was requested by the TkeySpace node.
In response to the received message, inv — TkeySpace sends a GetData message containing a list of blocks starting immediately after the last known hash.

https://preview.redd.it/lare5lsurtx41.png?width=768&format=png&auto=webp&s=da8d27110f406f715292b439051ca221fab47f77

Loading and storing blocks

After exchanging messages, the block information is loaded and transactions are uploaded to your node. To avoid storing tons of information and optimize hard disk space and data processing speed, we use RDBMS — PostgreSQL in full nodes (local computer wallet).
In the TkeySpace mobile app, we use SQLite, and validation takes place by uploading block headers through the Merkle Tree, using the bloom filter — this allows you to optimize the storage of your mobile device as much as possible.
The block header includes its hash, the hash of the previous block, transaction hashes, and additional service information.
Block headers in the Tkeycoin network=84 bytes due to the extension of parameters to support nChains, which will soon be launched in “combat” mode. The titles of the Bitcoin block, Dash, Litecoin=80 bytes.

https://preview.redd.it/uvv3qz7wrtx41.png?width=1230&format=png&auto=webp&s=5cf0cd8b6d099268f3d941aac322af05e781193c
And so, let’s continue — application nodes receive information from the blockchain by uploading block headers, all data is synchronized using the Merkle Tree, or rather your node receives and validates information from the Merkle root.
The hash tree was developed in 1979 by Ralph Merkle and named in his honor. The structure of the system has received this name also because it resembles a tree.
The Merkle tree is a complete binary tree with leaf vertexes containing hashes from data blocks, and inner vertexes containing hashes from adding values in child vertexes. The root node of the tree contains a hash from the entire data set, meaning the hash tree is a unidirectional hash function. The Merkle tree is used for the efficient storage of transactions in the cryptocurrency blockchain. It allows you to get a “fingerprint” of all transactions in the block, as well as effectively verify transactions.

https://preview.redd.it/3hmbthpxrtx41.png?width=677&format=png&auto=webp&s=cca3d54c585747e0431c6c4de6eec7ff7e3b2f4d
Hash trees have an advantage over hash chains or hash functions. When using hash trees, it is much less expensive to prove that a certain block of data belongs to a set. Since different blocks are often independent data, such as transactions or parts of files, we are interested in being able to check only one block without recalculating the hashes for the other nodes in the tree.
https://i.redd.it/f7o3dh7zrtx41.gif
The Merkle Tree scheme allows you to check whether the hash value of a particular transaction is included in Merkle Root, without having all the other transactions in the block. So by having the transaction, block header, and Merkle Branch for that transaction requested from the full node, the digital wallet can make sure that the transaction was confirmed in a specific block.

https://i.redd.it/88sz13w0stx41.gif
The Merkle tree, which is used to prove that a transaction is included in a block, is also very well scaled. Because each new “layer” added to the tree doubles the total number of “leaves” it can represent. You don’t need a deep tree to compactly prove transaction inclusion, even among blocks with millions of transactions.

Statistical constants and nChains

To support the Tkeycoin cryptocurrency, the TkeySpace application uses additional statistical constants to prevent serialization of Merkle tree hashes, which provides an additional layer of security.
Also, for Tkeycoin, support for multi-chains (nChains) is already included in the TkeySpace app, which will allow you to use the app in the future with most of the features of the TKEY Protocol, including instant transactions.

The Bloom Filter

An additional level of privacy is provided by the bloom filter — which is a probabilistic data structure that allows you to check whether an element belongs to a set.

https://preview.redd.it/7ejkvi82stx41.png?width=374&format=png&auto=webp&s=ed75cd056949fc3a2bcf48b4d7ea78d3dc6d81f3
The bloom filter looks for whether a particular transaction is linked to Alice, not whether Alice has a specific cryptocurrency. In this way, transactions and received IDs are analyzed through a bloom filter. When “Alice wants to know about transaction X”, an ID is requested for transaction X, which is compared with the filled segments in her bloom filter. If “Yes” is received, the node can get the information and verify the transaction.

https://preview.redd.it/gjpsbss3stx41.png?width=1093&format=png&auto=webp&s=4cdcbc827849d13b7d6f0b7e7ba52e65ddc03a82

HD support

The multi-currency wallet TkeySpace is based on HD (or hierarchical determinism), a privacy-oriented method for generating and managing addresses. Each wallet address is generated from an xPub wallet (or extended public key). The app is completely anonymous — and individual address is generated for each transaction to accept a particular cryptocurrency. Even for low-level programming, using the same address is negative for the system, not to mention your privacy. We recommend that you always use a new address for transactions to ensure the necessary level of privacy and security.
The EXT_PUBLIC_KEY and EXT_SECRET_KEY values for DASH, Bitcoin, and Litecoin are completely identical. Tkeycoin uses its values, as well as other methods for storing transactions and blocks (RDBMS), and of course — nChains.

Secret key

Wallets in the blockchain have public and private keys.
https://preview.redd.it/br9kk8n5stx41.png?width=840&format=png&auto=webp&s=a36e4c619451735469a9cff57654d322467e4fba
Centralized applications usually store users’ private keys on their servers, which makes users’ funds vulnerable to hacker attacks or theft.
A private key is a special combination of characters that provides access to cryptocurrencies stored on the account. Only a person who knows the key can move and spend digital assets.
TkeySpace — stores the encrypted key only on the user’s device and in encrypted form. The encrypted key is displayed as a mnemonic phrase (backup phrase), which is very convenient for users. Unlike complex cryptographic ciphers, the phrase is easy to save or write. A backup keyword provides the maximum level of security.
A mnemonic phrase is 12 or 24 words that are generated using random number entropy. If a phrase consists of 12 words, then the number of possible combinations is 204⁸¹² or 21¹³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in strict order, as it was presented after generation.

Result

Now we understand that your application TkeySpace is a node of the blockchain that communicates with other nodes using p2p messages, stores block headers and validate information using the Merkle Tree, verifies transactions, filters information using the bloom filter, and operates completely in a decentralized model. The application code contains all the necessary blockchain settings for communicating with the network, the so-called chain parameters.
TkeySpace is a new generation mobile app. A completely new level of security, easy user-friendly interfaces and all the necessary features that are required to work with cryptocurrency.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

100 Reasons to Buy Bitcoin

  1. Bitcoin is the most censorship resistant money in the world.
  2. You don't have to buy a “whole” bitcoin so don't freak out if you look at the price. You can buy a piece of one no problem.
  3. The Dallas Mavericks accept Bitcoin on their website. You don't trust Mark Cuban. He's the best shark.
  4. Bitcoin is the best performing asset of the last decade (better than S&P500).
  5. Diversify your current portfolio.
  6. It's not illegal in the USA.
  7. You holding just one satoshi slightly limits the supply and can rise the price for everyone else.
  8. [In late 2019] hash rate is the highest it has ever been
  9. Suicide insurance; if Bitcoin rises in price there is no worse feeling than regret.
  10. Some of the smartest people in computer science and cryptography are working on it. Trust nerds.
  11. Look at the all time historical chart. No technical analysis just tell me what you think when you look at it.
  12. Money is a belief system... and I want to believe.
  13. Transparent ledger, no funny business going on it's easy to audit.
  14. Elon Musk appears to be a fan. How's that for an appeal to authority
  15. There is a fixed limit in the number of bitcoins that will exist. 21 million bitcoin, 7 billion people on earth. Do the math.
  16. There are so many examples of governments inflating their currency to the point where it becomes unusable. Read the wikipedia page for Venezuela or Zimbabwe.
  17. Altcoins make sacrifices in either security or centralization. There are altcoins out there that claim to be innovating but just check the scoreboard nothing has flipped Bitcoin in market value or even gotten close.
  18. With technology developing at a rate faster than law, governments and for-profit businesses have the ability to monitor our purchases, location, our habits, and all of this has happened without consent. People made jokes and conspiracy theory, but sometimes conspiracy is real. Most people are good, but there is absolutely evil out there. There are absolutely evil people in positions of power. There are absolutely evil people that work together in positions of power. Does anyone actually believe that Jeffrey Epstein committed suicide. Go read about Leslie Wexner. Go read the cypherpunk manifesto.
  19. The upcoming halvening in 2020 will reduce the number of Bitcoin created in each block, making them more scarce, and if history repeats more valuable.
  20. Bitcoin has lower fees than traditional banking.
  21. Gold has the advantage of being a physical thing. But unlike gold you know Bitcoin is not forged, or mixed with another metal, and you can easily break it into tiny pieces and send it over the internet to someone.
  22. Bitcoin could spark new interests maybe you start to read more into economics, computer science, or Brock Pierce.
  23. Bitcoin has survived with no leader, marketing team, public relations, or legal team.
  24. Because Wired magazine said Bitcoin was dead at $2, Forbes said it was dead at $15, NY Times at $208, and CNN at $333.
  25. Just do a cost benefit analysis. What happens if Bitcoin fails and it goes to zero vs. what happens if it succeeds, and becomes world money.
  26. Bitcoin encourages long term thinking, planning, saving. Due to inflation we are punished by holding on to cash. Look up the statistics on the average savings account while we are bombarded with consumerist bullshit like Funko pop heads, Loot crate subscription services, and new syrup flavors for coffee. Currently we are encouraged to spend now, seek immediate gratification, and ignore what we are becoming as Amazon picks out our clothes and toothpaste ships it to the house and we sit and watch streaming services where content is pushed to us and I'm supposed to buy that this garbage is actually “trending”. Our lives have become so comfortable that idiots spend $60 to escape a room and have someone take your picture when you get out. What would our ancestors think.
  27. Maybe you're a day trader looking to use a trading bot in an unregulated market.
  28. Bitcoin has 7 letters in it. Lucky number 7.....
  29. Bitcoin promises to bank the unbanked, and provide services to those not otherwise “qualified” to open a bank account.
  30. It's just cool, don't you want to seem smart to all your friends.
  31. The origin story is so nuts there's going to be a movie or several movies about the early days of Bitcoin. Satoshi Nakamoto remains anonymous to this day. Imagine if the inventor of the cell phone was anonymous.
  32. If you have money to burn, don't buy soda, weed, or some girls private snapchat it's a dead end put it towards Bitcoin and give it to your child in the future.
  33. To avoid getting ripped off by foreign exchange fees just because you were born one place and your friends were born in another place.
  34. Can't live off the grid in your log cabin and still use Mastercard. Bitcoin is one piece of opting out.
  35. If one country adopts BTC as the national currency, it doesn't take much thought to realise that others will follow.
  36. Join a welcoming and unique community. Everyone is super nice because they want your money.
  37. You can stick it to the baby boomers.
  38. You can stick it to the vegans.
  39. You can stick it Roger Ver.
  40. Maybe your IQ is 70 and you'll do whatever CNBC Fast Money recommends.
  41. Maybe a hacker infects your computer, records you doing that thing, and threatens to release the tape if you do not pay them 1.5 Bitcoin.
  42. You're a risk taker looking for some risky investment.
  43. Aliens attack like Independence Day, blow up major cities in major countries, your money is still safe with Bitcoin. As long as there is a some guy, some person, living on an island with a copy of the ledger out there on your'e good. We're all good.
  44. Many proposals to scale the number of transactions, may the best plan win.
  45. One day you might have to use BTC to pay taxes, buy food, and charge your Tesla.
  46. You want to support a political group and remain private.
  47. You can trust math more than you can trust people to set an emission rate.
  48. Government don't know how much you have.
  49. The first response to Bitcoin being published by Hal Finney stated that Bitcoin was positioned to reach million dollar valuation. Hal was the first bull and passed away in 2014, missing a lot #doitforHal.
  50. Baddies can't freeze your money if they mad at you.
  51. The Big Bang Theory mentioned it, maybe you want to be like Sheldon the bazinga guy.
  52. Mid-life crisis.
  53. Be contrarian. In a world where everyone zigs it's sometimes good to zag.
  54. Don't have any hobbies, and you just need a reason to get up in the morning.
  55. Enjoy learning? Bitcoin is a topic where there is so much to learn, and so much development, that it really becomes a never ending journey. For someone who likes learning, it's more productive than speedrunning a video game.
  56. Yolo. You only live once. This isn't a dress rehearsal, if there's something your kind of interested in pursue it. That's true for anything not just Bitcoin. But if you're reading this I'm assuming you're interested.
  57. Bitcoin is not a ponzi scheme. The difference is Bitcoin does not need new people buying in to work, blocks being added will continue even if the community stopped growing.
  58. With religion on the decline maybe you want to join a cult. Crypto twitter is a great echo chamber to meet like minded people.
  59. Satoshi Nakamoto found a way to distribute a global currency in a fair way with the ability to adjust the mining difficulty as we go, it's really incredible. You still need computers and electricity to mine new bitcoin today but it's an extremely fair way for people to earn. There was no premine of Bitcoin. Everyone who has Bitcoin either bought it at what the market said, or they earned it.
  60. No CEO in charge of Bitcoin to make bad decisions or a board of directors that can make changes. The users, an ever growing number, are in charge.
  61. Bitcoin has no days off, it has no workers in charge who can get sick or take a holiday.
  62. Bitcoin has survived 10 years (and more). While there will always be dangers, I'd argue that those first few years it was most vulnerable to fail.
  63. Have some trust in the cypherpunks. Anyone who held and didn't sell bitcoin as it went from pennies to five figures is not looking to get rich. They want to change the world.
  64. Potential president Tulsi Gabbard disclosed owning some.
  65. Digital money is the future, anyone who has tried Venmo can see that. Well Bitcoin is a digitally native asset.
  66. Refugees can use Bitcoin to store their wealth as they flee a failing country.
  67. Bitcoin is an open source project. Anthony Pompliano likes to call it a virus but I like how the author of the Bitcoin Standard describes it. Bitcoin is like a song. As long as one person remembers it you can't destroy a song.
  68. Triple entry accounting. When humans first started recording who owes who what we had single-entry accounting. The king's little brother would keep everything written down, but we had to really trust this guy because he could simply erase a line and that money would be gone. When double-entry accounting started to spread 500 years ago it brought with it massive innovation. Businesses could now form relationships across the ocean as they each kept a record. We did not have innovation again until Satoshi's Bitcoin, where blockchain can be used as the neutral third party to keep record. It might not sound important but blockchain allows us to agree upon an objective reality.
  69. Bitcoin is non-political.
  70. Bitcoin is easy to accept. I mean kind of. It's certainly easier than setting up a bank account.
  71. A sandwich used to cost 10 cents in America, I walk into Subway and they don't even have $5 foot longs anymore. Inflation man..
  72. It's a peaceful protest.
  73. Critics say that mining wastes electricity, but if Bitcoin adoption continues the world will actually be incentivized to produce more renewable energy. There are so many waterfalls and sources of energy in the middle of nowhere right now. People might not see a reason to build a power plant over there now, but in the future it can make business sense. Take that waterfall mine bitcoin, and sell them to the people who can't mine. It allows for a business to sell their energy anywhere.
  74. Get into debates around Bitcoin, build those critical thinking skills.
  75. “Predicting rain doesn't count, building arks does”
  76. “The best time to plant a tree was 20 years ago, the second best time is now.”
  77. "I never considered for one second having anything to do with it. I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.”
  78. The immaculate conception. No cryptocurrency can have a start the grassroots way Bitcoin did, it's just impossible given how the space has changed.
  79. There are more than 1000x more U.S. dollars today than there were a hundred years ago.
  80. Bitcoin is the largest transfer of wealth this decade from the least curious to the curious.
  81. The concept of the Star Wars Cantina, Galt's Gulch, or young Beat Generation kids sitting in a basement smoking cigarettes and questioning the world can only exist if money remains fungible.
  82. You can send money to your Dad even if he lives in a country run by bad boys.
  83. Memorize your key, and walk around the world carrying your money in your head.
  84. Free speech.
  85. https://www.youtube.com/watch?v=S9JGmA5_unYGmA5_unY
  86. The Federal Reserve is objectively way too powerful.
  87. John Mcafe promised that if bitcoins were not valued at 1 million dollars by the end of 2020 he would eat his own penis on national television. It will be a sad day if we don't hit that 1 million.
  88. The Apple credit card.
  89. If we ever get artificial intelligence it'll be able to interact with Bitcoin.
  90. Katy Perry is aware of crypto so if by some chance you run into her, you get one chance to strike up conversation, so here's your chance to shine. You don't ask for a picture, you don't say she's pretty, or name your favorite song. Take your shot and ask about what type of cold storage she uses for her bitcoin.
  91. Many people are afraid of a world currency because it's associated with a centralized world power taking control. Bitcoin allows for neutral world money.
  92. Stick it to Mark Zuckerberg.
  93. Developers developers developers developers developer developers.
  94. About 85% of the supply has already been mined.
  95. Bitcoin can always improve. As long as the proposal is really good the code can be upgraded, and if the baddies invent ways to hurt the chain we can just fork off it's just code.
  96. Memes
  97. Name recognition and momentum above all other cryptocurrencies.
  98. 3% discount with Bitcoin at Crescent Tide Cremation Services. Nice cant wait to die.
  99. Like having a swiss bank account in your pocket.
  100. Blow up the banks (in minecraft).
submitted by Th3M0rn1ng5h0w to Buttcoin [link] [comments]

Electroneum Blockchain Upgrade FAQ

FREQUENTLY ASKED QUESTIONS
ELECTRONEUM’S MODERATED BLOCKCHAIN
Q: What is a Moderated Blockchain?
A: Electroneum’s new Moderated Blockchain (a type of permissioned blockchain that is at the qualitative level of IBM’s Hyperledger or Facebook’s announced Libra open ledger network) that has been uniquely and cleverly developed to provide Electroneum with a minimal but sufficient level of interference. This will allow the highly skilled engineering staff to supervise the distributed ledger which is maintained by a list of trusted validators. And this allows the tech team to detect anomalies or irregularities that could come from hackers attempting to breach our security, and immediately stop them preventing a double-spend or 51% attack. Because Electroneum controls the list of trusted validators, this empowers them to guarantee, and that is similar to IBM’s hyper ledger or that of Facebook’s Libra blockchain.
Q: Why did you move to a Moderated Blockchain?
A: To improve the functionality of Electroneum at the exchanges, allowing them to confirm deposit transactions faster and to protect the network from 51% attacks, and also Electroneum can decide to where the block rewards are rerouted ensuring that they are used to help improve the lives of the poorer in underdeveloped countries.
Q: What is the role of blockchain in a permissioned network?
A: It is essentially an immutable history of financial transactions. Electroneum’s Moderated Blockchain, which is a type of permissioned blockchain, unlike other decentralised cryptocurrency networks, can guarantee a tamper-proof system of transactional records.
Q: What motivation would someone have to trade on a permissioned blockchain when their transaction could get rolled back, or worse still, never get confirmed?
A: With Electroneum’s new Moderated Blockchain reorganisations can still occur but never will an irregular transaction actually be fully confirmed and then overwritten.
Q: Is there any risk of manipulation with a moderated blockchain?
A: There is a risk of manipulation if an authenticator key is leaked. However, the extent would be negligible and therefore not affect users, exchanges or miners. We developed a system to closely monitor the behaviour of both the network and miners to ensure any foul play is immediately crushed.
Q: How is Electroneum’s Moderated Blockchain different to other decentralised blockchains?
A: We have the authority to decide who mines the blocks and therefore, we can increase the likelihood that they are trusted validators.
Q: Why doesn’t Electroneum move to a fully centralised blockchain?
A: Our unique and cleverly created Moderated Blockchain is meant to have minimal interference to remove the risks and add protection whilst remaining decentralised to the point wherein the unlikely event that a meteor was to wipe out all of the Electroneum staff out of the face of the Earth by a meteor, ETN would not cease to exist. This because those nodes currently mining our blockchain or anybody else for that fact could swap out the codes and fork the network to take over control and guarantee the permanence of the cryptocurrency thus shielding our users from losses.
Q: What is Proof of Responsibility or PoR?
A: Proof of Responsibility, or PoR for short, is a new mining paradigm which obligates the miners to two primary responsibilities which are: 1) Maintain the integrity of the payment network, and 2) Spend the block rewards they receive responsibly to help poor people in line with Electroneum’s humanitarian agenda.
Q: How does PoR compare to PoW or Proof of Work?
A: PoR saves a lot of time and energy compared to PoW because instead of working with block validators overtime to prove or not that they’re reliable miners, we save time and potential adverse issues by hand-picking the miners ourselves.
SECURITY AND 51% ATTACKS OR DOUBLE SPENDS
Q: What is a 51% attack?
A: It is when someone takes over 50% control of the hashing power of a cryptocurrency. Hackers usually use this to benefit themselves with double spends, which is a hard loss for the exchanges as well as users in many cases.
Q: What IS an example of a 51% attack?
A: You may know 51% attacks better from both Bitcoin Cash in 2018 and Ethereum Classic in 2019, where hackers acquired more than 50 percent of the hashing power on those networks and getting away with a significant loot.
Q: What is hashing power?
A: This is the rate with which the mining rigs solve mathematical problems.
Q: Why doesn’t Electroneum require large amounts of hashing power anymore?
A: The Electroneum network difficulty automatically adjusts to maintain the target block time of two minutes. Regardless of the magnitude of the hashing power in Electroneum’s network will be kept to a two-minute target block time.
Q: Is Electroneum now insusceptible to a 51% attack?
A: We’re no longer susceptible to a 51% attack – making us one of the most secure blockchains in existence today.
Q: What if someone hack one authenticated miner?
A: In the unlikely event that hackers were to succeed in breaching the security of an authenticated miner, the authentication key of that miner would not be accessible to the hacker in itself because of the unique way our blockchain team has come up to shield it from being discovered. The hacker, therefore, would not be able to affect the network because they would be unable to mine sequential blocks. And because of the uniqueness of the Moderated Blockchain, our moderating network layer would immediately detect the breach and rescind the rights of that miner.
Q: What if two or more hacks?
A: If one hack is highly unlikely due to two security breaches being necessary, two hacks are exponentially harder to achieve. But if it were to happen, the keys they may have stolen limit the hash rate of the miner. This means that if somebody were to take the code and run it on the highest-powered mining machine, it would still produce the same hash rate as it would in the lowest powered mining rig making it impossible for them to control over 50% of the network’s hash rate because of the way our Moderated Blockchain is set up. This also ensures the NGOs can run an Electroneum mining node on hardware with which their tech teams are familiar.
Q: How do you judge how responsible the miners are?
A: We look at how many blocks they are mining compared to how many blocks they are expected to mine going by the hashing power allotted to them.
Q: What happens after a mining node has been shut off?
A: Simply, it stops mining and needs to be restarted and then retype or re-enter the authentication key.
NEW TRUSTED MINERS
Q: Who are the miners?
A: We have chosen vocational NGOs as trusted mining partners who are also trustworthy organisations. We have done due diligence to ensure they are transparent, honest, and aligned with our vision to work within the developing world. We have made sure that they also want to accompany us in our goal to expand our Gig Fair project, which is aimed at helping provide people in the poorest regions of the world with an income opportunity and the opportunity to attain skills and means to generate an income that will empower them to live better. The NGOs that we’ve selected are trusted brands that have proven track records in helping people. Cryptocurrency is at its early stages and is met with skepticism by many people and entities around the world as well as in the developing world. So, our mission is to educate these NGOs about cryptocurrency so that they can, in turn, convey the message of the benefits of crypto, particularly ETN, to people in the developing world and make them feel more confident to use crypto, which ultimately will help spur crypto’s mass adoption.
Q: Why are these NGOs anonymous (initially)?
A: Because they themselves have decided to remain anonymous over concerns of how cryptocurrency could reflect on their organisations.
Q: What do NGOs do for the project?
A: They validate the blocks and rewarded for this and take the proceeds to help people?
Q: Where are the NGO’s and Charities located?
A: For now, locations of the NGOs are being kept undisclosed for security reasons until they themselves decide they if they want to make public that information.
Q: Five million ETN or about $22,500 at the then valuation was paid out daily before. How much is being paid out now?
A: Because the block rewards have been reduced by a whopping 75% creating scarcity which is a good thing to extend longevity, currently just over 1.2 million ETN or about $5,300 is being paid out in block rewards.
Q: Can we see who is mining and how much they are mining?
A: The block rewards will still be visible on the blockchain explorer and those with sufficient technical knowledge will be able to see the different miners signing blocks with different mining keys. But Electroneum is not forcing the NGOs to reveal their identities because they are still going through a learning curve and when they understand crypto and experience the benefits first-hand, they will more than likely reveal themselves.
Q: Where are their mining rigs stored?
A: We have suggested that mining rigs be run in the cloud to ensure uptime; however, ultimately, it is up to the NGOs themselves decide where their equipment is hosted. It is essential to point out that we have reduced energy and hash rates by a millionfold as such a standard rack-mounted server that you would find in any business today is sufficient to run an Electroneum mining node.
Q: Who setup their mining rigs?
A: At this stage, all mining rigs have been set up by the Electroneum team as this is the first foray for NGOs into the cryptocurrency mining space.
Q: Who is managing their mining rigs?
A: The mining rigs are self-sufficient and need very little if any, technical support, however, a moderator layer monitors the new Moderated Blockchain to ensure the mining rigs are online and benefit the network. If we were to detect a mining rig going offline, we would inform the NGO and provide assistance where required.
Q: How will NGOs use their ETN (from mining blocks)?
A: The NGOs, initially, almost certainly convert the ETN to USD or other currencies because they have always used fiat to deliver their donations and assistance because that is what they are used to doing. Once they see the benefits and value of ETN they may start using it on the ground to amongst the people they help. We have deliberately targeted NGOs that are in regions that were we are imminent to enable airtime top-ups directly with ETN from within the Electroneum mobile app.
FUTURE PROGRESS & CORPORATE PARTNERSHIPS
Q: How will this initiative affect corporate partnerships moving forward?
A: Because the network is more secure, Electroneum as a platform will be more attractive as a platform in the eyes of potential partners.
Q: How will it help to grow our on-the-ground initiatives?
A: The NGO’s we’re working with will be in the regions we’re targeting on the ground. So, this will be contributing to the eco-system, the NGO’s will be able to spend their ETN on education through the Gig Economy too.
Q: Can new NGOs apply to mine?
A: I If you know or are an NGO that focuses on vocational training and education, and that it is within the developing world, then we would love to hear from you via our community forum.
Q: How will the 75% reduction in the block reward benefit the community?
A: Reducing the block rewards means ETN ‘s expands the longevity of the coin by making ETN scarcer and thus lengthening the duration of the emission of coins.
submitted by xterest27 to Electroneum [link] [comments]

Bitcoin explained in plain English (so that you can explain this voodoo magic money to your mom)

Bitcoin explained in plain English
Like Paypal and Visa, Bitcoin is a system that can send money digitally. The innovation that sets Bitcoin apart is that it isn’t controlled or operated by a single company. Instead of having a company like Visa run the system, anybody can join the Bitcoin network and participate in the record keeping that keeps Bitcoin running. Nobody owns the Bitcoin software or the Bitcoin network. If an oppressive government wants to shut down Bitcoin, it can’t simply go after a single company. An oppressive government would (in theory) have to go after everybody running Bitcoin server software on their computer to shut it down.
In practice, the decentralization doesn’t actually work. Most people buy Bitcoins through exchanges run by private companies, which are subject to government-imposed laws and regulations. While Bitcoin’s innovation is interesting, it doesn’t actually do anything useful in the real world. However, very few people actually understand Bitcoin. So, journalists and cryptocurrency fanatics can make up fancy stories about how Bitcoin or other cryptocurrencies will change the world.
What Bitcoin is
Bitcoin was originally designed to be a “Peer-to-Peer Electronic Cash System“. Think of other peer-to-peer systems like Napster or BitTorrent, except that users can exchange Bitcoins instead of files. Instead of having a single set of records controlled by one company, the set of records is copied to all the volunteer record keepers in the Bitcoin network. There can be hundreds or thousands of copies of the Bitcoin ledger distributed around the world. Changes to the ledger (from people sending Bitcoin to one another) are distributed throughout the network and each participant duplicates the record-keeping process on their copy of the ledger. This is the “distributed ledger” that everybody keeps talking about.
All of this means that the Bitcoin network can run by itself. Anybody can join the network and help keep it running.
Bitcoin in the real world
Unfortunately the key benefit to Bitcoin (the “decentralization” everybody keeps talking about) doesn’t actually pan out in the real world. Most people get Bitcoins by buying them via a centralized exchange, which are all private companies that can be shut down or bullied by the government. As all developed countries have laws against money laundering, banks will enforce these laws and will refuse to do business with exchanges that may be enabling questionable activities like online gambling with Bitcoins. Cryptocurrencies are effectively regulated by governments around the world. The only practical alternative to exchanges is to trade Bitcoins in person. However, this defeats the main benefit of digital money as face-to-face transactions are inconvenient. It’s unlikely that a system that involves trading paper money for Bitcoins will revolutionize the world.
Currently, the trend is that banks and credit card companies have been cutting off access to Bitcoin and other cryptocurrencies. Banks have to comply with anti-money laundering regulations so that they don’t intentionally or unintentionally help criminals profit from illegal activities. A key part of fighting money laundering is knowing who your customers actually are. Criminals are less likely to use a bank as part of their illegal activities (e.g. to trade stolen Bitcoins for cash) if the bank knows their true identity. However, Bitcoin was designed to be anonymous as stated by its inventor’s white paper. (Bitcoin doesn’t fully succeed in allowing for anonymous payments. However, the anonymity that it does offer is enough to be problematic.) Bitcoin’s design makes it difficult for banks to obey the law if they are to allow access to Bitcoin exchanges. This is one of the many reasons why Bitcoin is unlikely to become a mainstream payment method for goods and services.
You can safely ignore the hype
If somebody tries to explain Bitcoin to you and you don’t understand it, the problem isn’t you. The person explaining Bitcoin likely has some misguided understanding of Bitcoin because there are certain things that they want to believe. Some people want to look smart by being early believers in new technology that they don’t understand. Some journalists want to write clickbait stories. Some people want to believe in get-rich-quick schemes. Some people are getting rich quick through cryptocurrency-related scams. Whatever the case is, I wouldn’t worry about it. You aren’t missing out on a revolutionary new technology. Bitcoin’s only innovation is interesting but useless in the real world.
Appendix A: What Bitcoin mining is (and why everybody is saying it’s bad for the environment)
The problem with a set of records delivered over the Internet is that you don’t know if some stranger on the Internet has nefariously tampered with the version that they sent you. It is possible for somebody to cheat the system by spending Bitcoins and then distributing a copy of the ledger that leaves out their spending, allowing them to spend their Bitcoins again. Other users somehow have to figure out which version of history is correct. To prevent shenanigans, each node on the Bitcoin network will determine trust based on “proof of work“. Trust will go to the side that has spent/wasted the most computing power to back up their version of events. The theory is that the honest users will always control more computing power than dishonest users.
To perform proof of work, Bitcoin “miners” do a set of very difficult mathematical calculations to try to find results with a certain number of zeroes in it. It’s basically computers competing over their ability to produce special numbers with a really long series of zeroes. Record keepers in the Bitcoin network (“nodes”) will trust the side that has wasted the most computing power. Because the math needed to find the special numbers is much harder than the math needed to verify the numbers (sort of like how Sudoku puzzles are harder to solve than to check), participants can easily verify which side wasted the most computing power. This is the key idea behind “blockchain“, the technology that tries to solve the problem of not being able to trust what strangers send you over the Internet. Honest record keepers will continue to add valid pages (blocks) to the Bitcoin journal. If the honest side controls more computing power, they will produce a longer chain of valid pages (blocks) than dishonest record keepers. Eventually, the honest record keepers’ version of events will be considered the authoritative one.
This system works as long as honest users throw more computing power at the problem than dishonest users. A dishonest user cannot pass off a bogus version of events (such as one that omits their spending) unless that user has more computing power than all of the honest users combined. To make attacks from dishonest users very difficult, the Bitcoin system provides incentives to its users to maintain a large standing army of computers that are ready to waste more computing power than people trying to cheat the system. Bitcoins are given out to users who devote computing power towards the Bitcoin cause. This is called Bitcoin “mining”, as the miners exert effort and are rewarded with digital “gold”. The creation of new Bitcoins is part of Bitcoin’s design.
If Bitcoin’s price averages $10,000, Bitcoin miners will receive $6.57 billion dollars worth of newly-printed Bitcoins in 2018 (1800 Bitcoins will be created every day in 2018). Bitcoin miners will also receive transaction fees from people who pay extra to have their transactions added to the ledger first (their transactions will be confirmed first). This might sound crazy but Bitcoin mining is on track to being a multi-billion dollar industry. Various companies will fight over their share of newly-printed Bitcoins. Competition will cause them to use a lot of electricity since electricity is the main ingredient needed to mine Bitcoins. Digiconomist has a webpage that estimates Bitcoin’s power consumption, which is currently about 1.3% of the United State’s energy consumption- that’s the same as millions of Americans. Bitcoin mining will consume as much energy as entire countries like Bangladesh.
While Bitcoin mining is one way to get Bitcoins, it is very expensive for most people compared to buying Bitcoins on an exchange. This is because Bitcoin mining benefits from scale. Big companies such as Bitmain will spend millions of dollars on designing computers that do one thing and one thing only: mine Bitcoins. Think of a calculator: it is a computer that does only one thing. Because it is designed for only one task, it does it very well. A calculator is incredibly energy efficient and cheap compared to your smartphone or laptop computer. Similarly, a computer that is designed specifically for mining Bitcoins does it more cost-effectively than everyday computers. Without millions of dollars spent designing special computers, access to very cheap electricity, and large data centers, normal citizens can’t compete against Bitcoin mining juggernauts. These companies drive up the cost of mining Bitcoins (Bitcoin is designed so that fewer Bitcoins are produced if more computing power is spent on mining), pushing out the small fish. You will likely lose money if you try to mine Bitcoin on your home computer.
Appendix B: Buzzwords and technobabble explained
ICO: Initial coin offering, or “it’s a con offering”. Generally speaking, these are investment scams where investors exchange real money for fake money (or a stake in a fake business or Ponzi scheme).
Immutable: can’t be changed. In theory, Bitcoin is designed so that the ledger can’t be changed. In the past, the ledger has been changed by the Bitcoin community banding together to fix bugs. One such bug allowed a hacker to give him or herself 184 billion Bitcoins.
Trustless: This refers to a trust problem that only decentralized systems have; centralized systems don’t have this problem. For Bitcoin specifically, the problem is this: some stranger on the Internet sent me a journal of all Bitcoin transactions and I don’t know if I should trust it. Bitcoin’s key innovative technology, the blockchain, attempts to solve that problem so that decentralization can work.
Blockchain: a journal of all (Bitcoin) transactions since the very beginning. Transactions are grouped together into chunks called blocks, which form the ‘pages’ of the journal. Miners solve difficult math puzzles so that they can attach special numbers to each block, proving that they spent a lot of computing power. A series (or chain) of blocks with the most computing power spent on ‘proving’ that chain will become the authoritative blockchain. This system works as long as the honest users waste more computer power and electricity than dishonest users.
Decentralization: a system that works without a trusted central authority.
Double spending: Cheating the system to spend the same Bitcoin two or more times, ultimately resulting in spending Bitcoins that you don’t have.
Secure: An adjective that describes systems other than Bitcoin. For starters, Bitcoin was hacked to create 184 billion Bitcoins. When the Mt. Gox exchange was hacked, at least 5% of all Bitcoins at the time (at least 650,000) were stolen. Many people also lose Bitcoins due to their computer being hacked, being tricked into giving away their passwords or identity, or from malicious browser add-ons. Bitcoin also has outstanding security issues that haven’t been fixed. If a single party controls 51% of the world’s Bitcoin mining power, that mining power can be used to disrupt the Bitcoin network. Currently, more than 51% of the world’s mining power is controlled by Chinese companies.
submitted by glennchan to Buttcoin [link] [comments]

Dan Hedl Breaks Down Bitcoin.

1/ The Bitcoin (double) Standard
A deep dive into the cognitive dissonance of nocoiners, and the ridiculous double standard they have for Bitcoin. Thread 👇
2/ Manipulation
Over the last decade, banks globally have been fined with more than $200 billion in penalties, following investigations into manipulation of various markets/instruments: FX, metals, LIBOR, etc. Those cumulative fines are 2x the current total crypto market cap.
3/ Intrinsic Value
Complaining it has no intrinsic value when their primary currency has absolutely no intrinsic value.
“Bitcoin units have no intrinsic value… the U.S. dollar, the euro, and the Swiss franc, have no intrinsic value either.”
https://t.co/bssEa3U3S5
4/ Money Laundering
Approximately $2T a year globally is laundered, Americans spend $100B on drugs annually, Crypto market cap is $109B as of this tweet storm.
“Cryptocurrency [represent a] “low risk” for money laundering and terrorist financing activities... according to FATF
5/ Complexity
Consumers don’t understand how their existing financial system works, nor their cell phone, microwave, etc. There is minimal new training needed for them to be literate/enjoy basic interactions, just like any new technology in their life.
6/ Volatility
The only constant in markets is volatility. No one says “Gold isn’t a good SoV because the price fluctuates” but we hear that all the time with #bitcoin. What did you expect with a new emerging sound money? It certainly wasn’t going to be a linear price path.
7/ Energy Consumption
🚨 Electricity police! 🚨
Complaining about energy consumption, without first comparing it to the energy consumption of gold mining, the financial system, government, courts, military, selfies, or watching the Kardashians.
https://t.co/4ONTBlKRrA
8/ Monetary Policy
Worried about deflationary spirals when they most they’ve spent studying deflation is the 15 second dismissal argument from their econ 101 professor
9/ Control
Worries that it was created by an anonymous “hacker” vs highly flawed founding individuals of their government/financial system. Worries that no one “controls” the monetary policy vs a group of old white men they can’t even name
10/ FUD
What all of this FUD represents is the magnitude change Bitcoin brings. Any new technology evokes FUD, which is proportional to the impact it will have on the world. Humans don’t like change, FUD is a representation of the change that a new technology rings.
11/ History rhymes
When the bicycle debuted in 1800s, it was blamed for all sorts of problems—from turning people insane to destroying women’s morals
In the future, we’ll look at these double standards as we do now with bicycle objections: with laughter https://t.co/hTrn2xpnqx
submitted by Kashpantz to Bitcoin [link] [comments]

Cryptocurrencies and their Characteristics

Hello! My name is Irina Shevchuk, I am a designer at Platinum where we create best ICO and STO promotion ever! We know how to launch STO in 2019 and will help your project to get in the list of best security tokens 2019!
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Get familiar with Ethereum, its founding principles and major improvements/limitations upon the initial Bitcoin Blockchain!
Did you know that due to the nature of the cryptographic community from which cryptocurrencies have been developed, it is only natural that the adoption of cryptocurrencies in the digital sphere has dwarfed that in the traditional business world? Cryptocurrency adoption has firmly permeated the online gaming sphere with offerings such as Experience points (XP) for purchasing incentives in games and educational content, as well as GameCredits (GAME), which aims to be a universal currency for gamers worldwide and STORM, a kind of Blockchain Mechanical Turk, a crowdsourcing Internet marketplace. In the online gambling space, Funfair (FUN) aims to be the go-to currency for all online gaming, and Edgeless (EDG) supposedly offers a gambling experience with no edge for the house, a project all gamblers would surely welcome and support.
Cryptocurrency projects have already provided use cases for conventional businesses and enabled existing commercial operations to improve their performance with the implementation of Blockchain technology. Thus far, Bitcoin is the cryptocurrency that has most readily made inroads into the public consciousness. Microsoft, for example, has begun to accept Bitcoin payments in Windows and XBox stores, and Expedia has teamed up with Coinbase to allow Bitcoin to be used to book hotel rooms. Much like Iconomy in the crypto asset management sphere, NapoleonX (NPX), is allowing crypto investors to buy into Decentralized autonomous funds which focus on conventional markets. As we have already covered, one of the main reasons that Blockchain technology is causing so much excitement is because of the great number of ways the technology might be developed and applied in business.
The Canadian-Russian boy genius named Vitalik Buterin first envisaged the next stage in Blockchain technology as a scripting language for Bitcoin. But this particular idea failed to reach a consensus with the community. That is what stimulated development of a totally new platform with a more general type of language. Initial development on the Ethereum project began in Spring 2014 with the core team of Vitalik Buterin, Mihai Alisie, Anthony DiIorio, and Charles Hoskinson, working through the Swiss company EthSuisse. Subsequently, the Ethereum Foundation was created in the run up to the July 2014 crowd sale. Then, the Ethereum project’s currency Ether was distributed to participants who purchased the token with Bitcoin.
The initial questions about the security of the project were proven to be warranted after an infamous entity called the DAO (Decentralized Autonomous Organization) led to the loss of $50 million of the $150 million dollars raised in the Ethereum crowdsale. The Ethereum Blockchain then underwent a very contentious hard fork resulting in the Ethereum, ETH, we know today being separated from its parent chain, Ethereum Classic, ETC. By the end of 2016, the Ethereum Blockchain had forked twice more resulting in increased DDoS protection, that de-bloated its Blockchain, and thwarted further spam attacks by hackers.
The true cost of the financial crisis for the world economy is still being calculated and may never actually be known, but conservative estimates put the cost at approximately $20,000 per America citizen. Satoshi Nakamoto, the anonymous creator of the most famous and infamous digital currency, sought to create a means of transmitting value that did not require a trusted third party to oversee the transaction or guarantee the value. By using distributed ledger technology on the Blockchain he laid the foundation for a trustless decentralized financial system that did not rely on central banks to mediate transactions. This is a “peer-to-peer version of electronic cash…. sent directly from one party to another without going through a financial institution”. With no trusted third party, each individual becomes a self-sovereign, one-person-bank, responsible for his or her own transactions and security.
The Ether token’s authenticity is guaranteed by its Blockchain, which is a continuously growing list of records connected and secured using cryptography. Like Bitcoin, the Ethereum Network is an open and distributed ledger that records transactions between two people in a confirmable and permanent way. The Ether token is superior to bitcoin in that its blocktime is approximately 15 seconds compared to 10 minutes with Bitcoin. Mining generates new coins at a usually consistent rate, and the average transaction cost in December 2017 was $0.33 compared to $23 for Bitcoin. As alluded to above, Ethereum initially aimed to become both a decentralized internet and a decentralized app store supporting a new kind of app (dapp). In order for the network to function correctly, a novel piece of code “ether” was created in order to pay for the computational power needed to run an application on the Ethereum network. Ether is a digital bearer asset like BTC, and does not need a third party to verify or mediate transactions. “ERC-20 Token: The Ethereum Request for Comment -20 token is standard set of rules used for smart contracts on the Ethereum Blockchain for executing new tokens. It defines a uniform set of rules on how a new token will function within the Ethereum Blockchain. The creation of this token has made it very easy for start-up companies to create their own token within the Ether ecosystem. That was a very significant advancement that caused the 2017 ICO boom in newly issued tokens.
Monero: This fork of Bitcoin is focused on privacy and decentralization. It obfuscates the sender and recipient’s addresses, as well as the amount of the transaction. The original Monero (the name is Esperanto for “coin”) author, Nicolas van Saberhagen, sought to make mining rewards more egalitarian as an additional benefit of being part of the Monero ecosystem. The very private nature of the Monero architecture, which mixes sender “ring signatures” with many others, makes the deciphering of the destination and recipient address increasingly difficult. This has made the Monero cryptocurrency the go-to coin for illicit transactions on the Dark web. There is, however, another way to look at this. Although Monero’s intensely private nature and deliberate obfuscation of transaction destinations and sources is undoubtedly used for criminal and corrupt purposes, the exact opposite effect may occur if its privacy characteristics are placed within the context of third world countries where corruption is already rife. In developing countries, it has proven much easier for people to obtain devices with an internet connection than it is for them to open a bank account. With 2 billion people worldwide without a bank account, much of them in Sub-Saharan Africa, privacy coins like Monero could play a key role in distributing aid to the needy without having to deal with any potentially corrupt and inefficient organizations or state institutions standing in between.
Ripple: Ripple is well-known as one of the very first big Blockchain projects. In fact, its predecessor, RipplePay dates all the way back to 2004. The modern version of the Ripple payment protocol (conceived by Jared McCaleb and built by Arthur Britto and David Schwartz) enables instant peer-to-peer transfer of money. The protocol and the facility to avoid the banking system, results in drastically reduced fees and transaction times compared to international transfers by conventional banking methods. Ripple is currently known as the cryptocurrency of the financial services industry, with major involvement by Santander, American Express and RBS, amongst many others. Ripple has also teamed up with Moneygram to speed up the process of cross-border payments. Ripple is aiming to send money across national lines “as quickly as information” in the words of its CEO Brad Garlinghouse. The almost laughable inefficiencies and delays in sending money to friends or loved ones in foreign countries is a major pain point for banking customers the world over. Now, with the implementation of Blockchain technology through Ripple’s XRapid initiative in partnership with Moneygram, international transfer times will go from being measured in days to being measured in seconds.
NEO: This is often described as the “Chinese Ethereum”. NEO is similar to Ethereum in that it is a Blockchain platform that is designed to be a scalable platform for the construction of decentralized applications. The NEO Blockchain project was founded by Da Hongfei in 2014. Like Ether (ETH) in the Ethereum network, the NEO token is the base asset of the NEO Blockchain. But unlike Ether, it is indivisible, and it accrues a GAS token when stored in a wallet. The GAS token can be used to pay transaction fees on the NEO Blockchain. The NEO cryptocurrency was rebranded from Antshares in 2017, and has started to produce highly successful ICOs on its platform, most notably Ontology (ONT) and RPX which will make use of the NEP-5 token. In the immediate aftermath of rebrand from Antshares, the all-encompassing vision of NEO 2.0 was laid out as follows: “We hope the platform can be used for different front-end scenarios, such as the Digital asset wallet, Forum, Voting, Profile management and Mobile applications. The platform also features an open API that can be used for integration with other systems.” One of the main alterations made to the NEO project was the addition of more up-to-date digital identity management protocols which employed Public Key Infrastructure(PKI)X.509 digital identity standards. NEO’s verification of identity when issuing digital identities includes fingerprint, voice and facial feature authentication methods.
IOTA’s code architecture is not in the same mold of Bitcoin or Ethereum, both of which could be described as existing on and making use of a Blockchain to order their transaction history. IOTA, and its token, the MIOTA, are embedded in a code structure called “The Tangle” which is a form of Direct Acyclic Graph data architecture. This particular architecture enables the code to function with no fixed block and each transaction carries its own proof of work. These types of transactions are enabled by “storing the most recent transactions in a fast cache, and by using checkpoints such that older transactions cannot be references. Thus, the system can be made as fast as Bitcoin, or faster”. IOTA’s main use case is for the transmission of information and value between Internet of Things enabled devices, in an automated manner. This project is truly one oriented toward the future, when many more IoT devices will be online, and there is a great need for such devices to communicate and transact without any human intervention. One weak point in DAG code architecture is that much less than a 51% attack is sufficient to compromise the network. It would be theoretically possible to bring about double spending on a DAG network with a 34% attack.
TenX (PAY) TenX was founded in 2014 as part of a PayPal incubator program. It sought to bridge the gap between Blockchain assets and everyday commerce, providing an efficient solution for the liquidity problems of many cryptocurrencies. The project will eventually be centered around a debit card that makes use of the COMIT protocol that enables many different Blockchains to interact with one another without having to issue a different token. That could be another milestone event in the crypto ecosystem. The project roadmap presented to investors began with the ICO in July 2017. They famously raised $34 Million in the first 7 minutes. The roadmap will conclude when they obtain their banking license in the middle of 2020. At that point they also aim to issue FIAT tokens fully backed and issued by a government. So far, the TenX project is on course to meet its stated targets. They brought out their highly rated IOS and web apps at the end of 2017. This serves as a fantastic example of how a well-run ICO can help both the investors and the startup streamline the capitalization process to the benefit of all parties involved.
Influence upon Traditional Merchants around the world. Due to the inherent volatility of cryptocurrency, the adoption of crypto payment methods by traditional businesses has generally been slower than in the online sphere. Although some major companies have in fact begun to come around to the idea of integrating digital currencies into their methods of accepting payments, the volatility of crypto is still a serious impediment for most. Microsoft has led the way by incorporating Bitcoin payment systems into the Window Store, as well as adding the ability for game players to purchase credit on the Xbox live network with Bitcoin. Overstock began accepting Bitcoin payments on January 9th, 2014, and saw a significant uptick in orders immediately. They received 900 new orders for $126,000 worth of BTC. Electronic retailer NewEgg, and online gaming site Zynga, also now take Bitcoin payments. There are even certain Subway outlets in South America that have started to accept Bitcoin as a method of payment too. On a far smaller scale, Coingate has partnered with Prestashop, to take Europe to the verge of a widescale cryptocurrency payment method. Merchants of any size need only apply for a Coingate account, and then have a crypto payment module installed, in order to accept payment in Bitcoin, BCash, Ether, Litecoin and nearly 50 other cryptocurrencies. The price is locked in immediately at the time of the transaction, which solves the volatility issue, and the whole process can be completed without the merchant having to deal in anything other than Euros. CryptoCredit card projects Monaco and TenX help to bridge the gap between the worlds of fiat and crypto, allowing a card holder to spend their cryptocurrency anywhere in the world.
Decentralization & Our Financial World In the Financial World, decentralization would radically alter the roles of, and creation of value by, our modern day ‘too-big-to-fail’ financial institutions. The capping of the supply of most major cryptocurrencies is itself an idea nothing short of revolutionary, in the truest sense of the word. All developed economies are oriented around a Central Bank that, through the system of fractional reserve banking, has power to create loans or investments and accept deposits, but is only required to hold reserves equal to 10% of its total liabilities. This in effect empowers central banks to print money as they see fit, a mechanism which gives central banks massive power in contemporary society. Any move toward decentralized ledgers, and any number of finite decentralized currencies, would upset the balance of power between central banks and the individual in a way that has never occurred before. The role of central banks in the economy, and the traditional means of solving common financial problems by having the central bank manipulate the money supply, for example, would need to be radically rethought. Consider the recently used machinations such as quantitative easing, negative interest rates, etc. These are present-day “solutions” that would no longer be able to be applied to the economic and financial problems they are attempting to solve.
If Blockchain technology was meaningfully deployed in the political arena it is conceivable that political corruption and vote-rigging could be severely curtailed or even eradicated. By providing a clear, transparent and incorruptible method of vote recording and counting, voter fraud and election rigging could be eliminated. The political climate could be detoxified and faith could be restored in both fledgling and established democracies. The idea of being able to present a publicly available digital ledger would allow journalists to maintain lists of sources that would be able to be shared between peers without compromising the source’s identity. The possibilities for the application of the Blockchain founding principles are truly revolutionary and just may be the largest leap forward for society since the computerization of the work force or the globalization of trade. The Cryptocurrency Ecosystem Overstock is a large e-commerce company that has successfully adopted a Blockchain solution for its business needs. The Silk Road was one of the most widely known early beneficiaries of the mass adoption of cryptocurrencies. Purpose of Cryptocurrencies -Ethereum was developed after the original creator’s suggested changes to Bitcoin were not implemented by the community. -Ethereum is a completely separate cryptocurrency. -DAO Hack & the Ether Token. -Monero, Ripple, NEO, Stellar & Iota. -Microsoft has begun to accept Bitcoin on the Xbox live network store.
If there is a wide-scale expansion of the mechanism of asset-tokenization we could see stocks, bonds, synthetic instruments and commodities being brought on-chain in the future. This would allow traditional assets to be easily integrated with smart contracts, and facilitate their interaction. This would cut down transaction times, and even more importantly, dramatically slash legal fees to a fraction of what they are today. It can cost up to $1,000 an hour or more to hire corporate lawyers to preside over a deal, draft contracts, or give advice on the intricacies of high finance. So, the potential savings involved for big businesses, if smart contracts and asset tokenization became the norm, is an amazing thing to think about at this time. The ASX is the first exchange in the world to implement a solution that would change the settlement of equities transactions from two days, to mere minutes. This radically changes how traders on both the buy and sell side, as well as companies, would be able to trade their securities, manage their risk and leverage their positions.
Learn more on the role ICO tokens play as a part of Blockchain backed solutions. What is a crypto token? How do security tokens work? How to market an ICO?
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submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

Security of Chain Month (Crypto winter ice storms for the weak, a month long event in Feb)

One way Bitcoin derives value is from the security of the network. This security comes from a brutal amount of effort (PoW) and spent electricity to make it the most secure coin.

Its completely insane the # of loser altcoins with weak security. They are complete bad apples and risks to the ecosystem and should not be allowed to continue. Look what happened to ETC.

This link sums things up well. With a a 1 hour attack cost coming in so cheap, its a liability to the system.
https://www.crypto51.app/

Disclaimer:
I have mined since 2013 and have a OK understanding of things. That said, I don't know how one "would" actually do the 51% attack or double spend. I am not a hacker, and I am not into crime. I don't even want the double spend, I would be fine if someone just took 51%+ and mined empty blocks or showed people for 2 hours they could control these coins.

Here is what I propose: THE FEBRUARY FREEZEOUT
Everyone fire up their old or new PC's, CPU's, old GPU's, old Sha256 equipment and point it towards nicehash for the month of February. Nobody will make any money, I know. Its winter, you basically get a free space heater for a month. You might make a tiny bit of BTC. (Even better if someone can point me to a better source than nicehash, but that alone should do the trick.) This should drive down the cost of the contracts (supply and demand) and make it these weak coins even weaker on crypto51.app. Then the smart whitehats can do their work. Someone please step up and do this!

Current ideas to the smarter people out there:
1) Double spend these coins. One issue is the exchanges that have KYC are not good targets, because you will get in trouble when you remove the coins, so this sucks. We all want good anonymous exchanges, and those in a way are the easiest targets for the double spend attacks, so its a catch 22, hopefully they target the crappy exchanges in this as well.
2) Don't double spend, just buy short futures and then attack the coins network, should be enough. (coins that are listed on BITMEX are ideal, buy short contracts settled in BTC)

End result:
Exchanges need to start putting in 10 hour to 10 day confirmation times into place for these weak coins, making their value prop worse.
Exchanges will become picky about what they list.
Security becomes properly valued in the market.

I just got my stuff onto nicehash myself, I am making 0.0002 BTC per day, and my room is a little warmer, and my hope a little brighter. LETS GO!
submitted by tigre1983 to Bitcoin [link] [comments]

CRYPTOCURRENCY: THE FUTURE DECENTRALIZED DIGITAL BANK!

CRYPTOCURRENCY: THE FUTURE DECENTRALIZED DIGITAL BANK!

https://preview.redd.it/h8x6e4osayj11.jpg?width=1890&format=pjpg&auto=webp&s=229ec0256f907bed2755d15aaf47c24b3bd171f5
Do you believe that it is now possible to transfer money to your friends and family without going to banks or demanding for the assistance of any trusted third parties? Here’s how!
Nowadays, exponential innovation has been spreading all over the world. People continue to improve a lot of things that make our lives much easier than the way it was before. Can you imagine? From centralized to decentralize bank is even possible!? (To know more about centralized and decentralized check out this article! https://www.reddit.com/useJessyyyM/)
All of our banks have access to our financial accounts and even our personal information. However, banks have only one central server. The worst thing is when hackers can compromise it at any time. Thanks for the invention of cryptocurrency. Now, we don’t need to give our personal information to anyone, and the best thing is, we are the only one who can access our financial account. One more thing is, it is not stored in one server. Therefore, hackers need to hack all the servers in the network at the same time to modify the contained data. Fascinating, isn’t it?
Let’s jump in, what cryptocurrency is?
Bitcoin is the first cryptocurrency that applied Blockchain technology. In 2009, an anonymous person or a group of programmers had been known as Satoshi Nakamoto released the whitepaper of Bitcoin, a peer-to-peer electronic cash system with no trusted third party, with an expectation to solve the double spending problem that many programmers had been failed to deal with.
Cryptocurrency is a digital or virtual currency that can be used as a medium of exchange. It uses cryptography to secure the financial transactions that are stored in the blockchain. It also breaks the double spending problem by using encryption techniques to control the creation of monetary units.
Cryptocurrency make it easier to transfer funds between two parties in a transaction, because it is a peer-to-peer network. Also, it is very accessible, why? It is because billions of people can access the internet, but not everyone has access to banks or any money exchange systems. That’s one of the most significant advantages of cryptocurrency over banks.
How does cryptocurrency work?
Every transaction facilitated through the use of private and public keys for security purposes. These keys are represented by addresses, which do not require your personal information. Only these addresses are the keys to transfer money.
After that, the transaction will be distributed across the network. Only the miners can confirm the transactions by solving a cryptographic problem. The first miner who solves the cryptographic problem will be rewarded and broadcasted to every node in the network. Every node will have a copy of the transaction and it will be added to their database. Once it’s verified, another block will be added to the chain, which contains created time and data and cannot be changed it anymore.
This is basically how cryptocurrency works.
Oops! Wait! There’s more!
Cryptocurrency is not only for transferring money, but there are also a lot of things you can do with it.
Pay Goods and Services
If you’re not aware, there is a lot of merchants who are accepting cryptocurrencies as payment like Bitcoin and Ethereum both online and offline. It can be used to pay for hotels, restaurants, travel agencies, apps, etc.
Sooner or later, when the world has fully adopted cryptocurrencies, we will be cashless, SOON.
Investment
Cryptocurrency is one of the good investments in this generation. If you heard some news about cryptocurrency, I’m pretty sure you will be fascinated by this kind of investment. I read some stories that many people became rich by investing in cryptocurrencies. Especially with Bitcoin investors, because last November 2017, the price of one Bitcoin exceeded $7,000.
However, please keep in mind that cryptocurrency is a high-risk investment. Its market value fluctuating, you’ll never know if it will go up or down. No one can tell. Before investing in this kind of business, please make sure that you have enough knowledge about it.
I hope you have learned something new about cryptocurrency, for more please visit: https://www.reddit.com/useJessyyyM
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The deconstruction of money: Prosperity when wealth ceases to exist

Here's a question to ponder: How do you conjure 300 billion dollar out of thin air? The answer, if you hadn't guessed it yet, is cryptocurrency. People used to laugh at this phenomenon, but they're not laughing anymore. They're feeling the same emotions about this phenomenon that I felt four years ago: They're worried and excited at the same time.
Bitcoin is a first, but not just in one domain. It's a first in most of its defining characteristics. We have witnessed the emergence of a means of exchange whose rate of inflation is predictable. Nobody can create more than 21 million Bitcoin, we can merely find ourselves disagreeing about the definition of a Bitcoin, which is starting to happen.
Despite its scarcity, Bitcoin has no intrinsic value. We're now beginning to discover that this doesn't matter, something most economists and academics had not anticipated. Just as an artist can earn money by shitting in a can, you can earn money by producing virtual currency. What we don't know yet is how far this phenomenon can grow. As of speaking, it gobbles up 0.1% of the world's electricity. As a means of doing anonymous transactions, it's pretty much useless compared to the alternatives that have succeeded Bitcoin.
In the worst case scenario, Bitcoin is like Microsoft or Facebook, in the sense that its network effect and early mover advantage allow it to eliminate all competition. This results in the dystopian scenarios I have frequently discussed before. In a more realistic scenario however, Bitcoin ceases to grow eventually. This makes more sense to me. Consider this: Would you invest in something that has grown in value 100-fold over the past two years? You would probably be wise enough to recognize that other investment options have more growth potential left. If enough people understand this, it becomes a self-fulfilling prophecy. If we assume that people buy Bitcoins to get rich quick, they'll stop buying them when it becomes clear it won't allow them to get rich. As a result, its value will eventually crash.
Note the difference between Bitcoin and Windows here. We're not using Windows because we think it has growth potential. We're using Windows because everyone else uses Windows and thus it's easier for us to communicate. You don't genuinely buy Bitcoin because you want to use it. You buy Bitcoin because you expect others will want to buy it from you at a higher price. To put this in simpler terms: If we use something merely because we expect its use will grow in the future, it can't come to dominate the market it's in.
To own Bitcoin means to forever have a sword of Damocles hanging over your head. You bought it because you expect its value to rise. At the same time, you are aware that it suffers from existential threats: Government intervention, a superior alternative taking over, a rush for the exit that the network can't process, a 51% attack, an unanticipated protocol flaw, an early adapter who wants to cash out. You're willing to take those risks when you expect its value may rise 100-fold. You're no longer willing to take those risks when you expect its value might double in the next ten years. The innate instability of Bitcoin ensures it will forever remain a niche phenomenon.
Here's a question to ponder: Why buy Bitcoin, if you and your friends can invent your own coin that you distribute among yourselves? If I had to choose between entering a country where all the land is owned by a small minority or entering a country where I can still freely stake a claim to my own land, I would choose the latter option. People throughout history have understood this principle, which is why small communities came up with their own currency systems.
The general trend throughout history has been that these alternative currency systems were destroyed by those who felt threatened by them. It's a little known fact that whenever local currencies emerge that seem to replace a government issued currency, governments tend to respond by shutting them down. It happened in Germany in 1931, it happened to the Liberty dollars in the United States and it happens in more situations, when the alternative currency becomes a threat.
Of course, alternative currencies rarely become a genuine threat to the status quo. The reason is because people can generally create new units out of thin air. Whatever institute issues the alternative currency has no means to prohibit you from doing so. Today, we know that this is no longer a valid issue, due to cryptocurrency. As a result, this controlled issuance allows people to interpret alternative currencies as having a genuine value, based on the expectation that they will be able to find someone to sell it to when they feel the need to.
What this means is a fantastic development for those of us who fear the extreme inequality we witness today. The nature of wealth is that it tends to accumulate. Those who are wealthy have the means to become wealthier, whereas those of us without wealth have no such means. Then eventually, when wealth has accumulated to extreme degrees, the elite has found itself in possession of most of the world's fertile land and natural resources. Then, those with their backs against the wall tend to rise up in revolt and exterminate the aristocracy.
Today, after the invention of cryptocurrency, revolutions work differently. When we see that the game is rigged against us, that you own everything there is to own, we cease acknowledging your protocol and set up our own. We don't participate in games that we can't win. We're unable to ignore land ownership, if you cling onto the land, you risk ending up beneath the guillotine. We're perfectly able however, to stop pretending that a Bitcoin is something more than a series of ones and zeros in a digital database. This outcome is already unfolding. Why is Bitcoin losing its dominant position in the ecosystem? Because people realize that the game is rigged against them. Most people are simply not dumb enough to spend 10,000 dollar to buy one bitcoin. Smart people look for other opportunities.
How does a revolution look? Consider what happened a few weeks ago, when Bitcoin ended up clogged and a competing protocol, Bitcoin Cash, suddenly grew enormously in value. This revolution was prematurely aborted, but the underlying issues have not been addressed. Bitcoin is still bumping up against its transaction capacity, wealth is still monopolized in the hands of a shrinking group, a single Bitcoin still has an intimidatingly high value to all but a small group of wealthy people who have no intention to actually use the currency. As a result, hedge-fund managers and trust fund kids are now buying first class tickets to board the Titanic.
Understand the following principle: The unequal distribution of a currency undermines its use value. A currency owned by a small group of wealthy people is subject to dramatic price fluctuations. The stock market suffered a sudden dramatic collapse in 1929, during an era when wealth inequality was at its most extreme. The reason is simple. If the distribution of an asset is extreme in its inequality, it becomes impossible to estimate the fair value of the asset.
This is the problem that Bitcoin inevitably suffers. The wealth inequality of Bitcoin increases over time, as hackers are able to steal Bitcoins, while those who find themselves wealthy all of a sudden tend to exit the scheme. As this unequal distribution grows worse, the instability of Bitcoin grows worse too. Economists have long known that wealth inequality and speculative bubbles go hand in hand. We see high prices right now for Bitcoin, but this is merely because nobody wants to exit at the moment. As soon as people want to leave the scheme, they'll find it's simply not possible at current prices. I expect that Bitcoin could see its price drop by 90% or more, over a period of days. People will find themselves unable to leave the scheme during such a period, because the transaction capacity on the network is limited.
When Bitcoin falls apart, people will see that the underlying technology has more genuine potential than this particular faulty implementation. As a result, another redistribution of wealth will take place. One important thing to understand is that currencies gain value because of broad use. Broad use is accomplished, by broad distribution. In its early days, everyone could mine bitcoins and everyone could use faucets where they were handed out for free. As a result, a core community emerged.
Note that the broad distribution that creates value does not have to contradict the unequal distribution that creates its high price. Value and price are not always well correlated. In regards to Bitcoin however, the more important point is that the currency grew in price by inheriting both characteristics: It's widely distributed, but most of the coins are actually held by a small minority. This small minority thus has a lot of wealth, on paper. They won't be able to actualize their wealth, if they tried to cash out the value of Bitcoin would take a plunge.
You will find that Bitcoin's role as a speculative bubble will be replaced by various competing technologies, but its role as a digital currency will be replaced by currencies that are broadly distributed. As an example of how this will work in the future, consider Clams. Clams are a digital currency with an egalitarian and wide distribution. Anyone who owned a range of currencies ended up owning Clams. This has proved to be free money, for people who paid attention. The project was abandoned by its developer, but it demonstrated the way forward for others. There are now various Bitcoin forks, that hand out their coins to entire swathes of the population, while handing out extra coins to its own developers. Those developers do end up profiting off their invention, simply because the wide distribution creates interest in the coin.
In contrast to what you might think, these various new currencies don't have to die out. In contrast to offline currencies, digital currencies can be extremely easily exchanged for one another. Merchants are able to accept coins they have never heard of for products they sell, simply because the underlying infrastructure is managed for them by third parties. So, what credible reason do people have to put their trust entirely in Bitcoin? The answer is simple: None. The herd has discovered Bitcoin, but the herd will consume it and bring about its demise, as the protocol can't scale.
But what if I'm wrong? What if Bitcoin can scale? Well, the answer to that question is simple: Bitcoin can't scale. A form of Bitcoin that can scale ceases to be Bitcoin. Bitcoin is characterized by 1 MB blocks, which limits transaction capacity to 3 transactions per second, which is a fraction of what credit card companies can handle per second. If Bitcoin increases its block size, a new currency comes into existence, that needs new software and would leave users who fail to update their software at risk of losing their coins. What about off-chain scaling? Off-chain scaling requires settlement on the 1 MB blockchain. As a result, those who plan to develop off-chain scaling methods admit that Bitcoin would need 133 MB blocks, simply to accomplish the goals they have set for it. The system can't function under those conditions.
What happens if Bitcoin does somehow develop off-chain scaling and starts to use 133 Mb blocks? The energy needed to mine Bitcoins increases dramatically. As a result, the number of people who can mine Bitcoin goes down, mining Bitcoin will only be an option for people in places with dramatically low energy prices. In addition, governments would be unlikely to accept having 90% of their national electricity use be devoted to mining Bitcoins. A currency that requires solving pointless computer problems to distribute it is a currency that remains forever a niche phenomenon. There will be no consensus around how to change the protocol, it will endlessly fracture until it renders itself obsolete.
Important to understand is that cryptocurrencies don't allow you to hold onto extreme wealth. Consider Bitcoin. In its early days, there were plenty of smart people who saw its potential. But if you're a billionaire, how would you use a currency worth less than your own net worth, to increase your own wealth? The answer is that you can't. Small projects grow the most, but small projects can't fit your wealth inside of them. The effect this has is that the extremely unequal global distribution of wealth we witness today will be rectified. The habit that extreme wealth has is that it doesn't survive dramatic changes to the status quo.
Until a few years ago, Bitcoin was the domain of basement dwelling NEETs and angry libertarian gun-nuts. But what we can do, anyone can do. If you live in a community that suffers poverty, you can set up your own currency that you use among each other and by virtue of the fact that you use it, it grows in value. What we have done with Bitcoin, has been done by other people too. If you don't think you can win under our rules, you change the rules and play your own game. There are now numerous currencies out there that have given birth to anonymous millionaires, while many more like me have made smaller fortunes.
As I have mentioned before, technology is a self-limiting phenomenon. Technology in its most advanced stages consumes its own niche and as a result leaves us off without the technology. With self-driving cars, the car starts to die out. With lab-grown meat, meat dies out. The Internet, destroyed the concept of possession. Why should I buy a car, if it idles 95% of the time? Why should I visit a hotel, if people can rent out their room to me? Why should I own a book, if the information I seek is accessible under my fingertips? Why should I even own anything? In Sillicon Valley, digital nomads live without any genuine possessions, other than a smartphone, a laptop and the clothing they wear.
What has remained off-limits so far, is the concept of wealth itself. The idea of wealth has survived the digital transition, even as everything else has been rendered obsolete. This is now coming to an end. We live in an era, where the concept of wealth is being deconstructed. One important principle in this observation is the issue of scarcity. Things have value, because demand for them is higher than their supply. In Estonia, Latvia and Lithuania, houses are practically for sale for free, because the population has declined by a quarter since the fall of the Soviet Union. How can physical space have a price when there is more of it than anyone needs? It can't. It can only have a price when a small elite is allowed to keep it off limits to the rest of us, without making use of it themselves.
But now, we face the finalization of the deconstruction of wealth. What does it mean to own anything? How can anything have value, if it is not scarce? Are you still wealthy, if your wealth must remain a secret? If you can't flaunt the fact that you're a millionaire, you can't genuinely be thought of as rich. Cryptomillionaires are men who have wealth they can't genuinely use. Under those conditions, the illusion of power begins to die. We see today that money is a joke. You can print money in your parents' basement and people will treat it as genuine money. The next step is the recognition that wealth is a joke. The society we are entering is one where wealth loses its relevance, until it eventually can't be defined. The very concept itself is ceasing to make sense. It is a nightmare we imposed upon ourselves and now we will no longer believe in it.
The history of civilization is the exchange of wealth for fertility. The man accumulates resources, passes those on to his male descendants and the men monopolize young women to disproportionately pass on their own genes to the next generation. This became possible, when the concept of ownership became possible. There exists no inequality, among hunter-gatherers who have no ability to press a claim to resources. In primitive communities where everyone lives near a river dense with fish, some men end up claiming "ownership" over the river and soon enough we witness hereditary castes, monarchs and inherited wealth. In the Kalahari desert, where people depend on animals that run around and Mongongo nuts that can be consumed, there is no property, as there is nothing to claim ownership over. You might claim ownership over a plot of desert, sure, but how will you enforce it? You can't and thus everyone is equal.
The concept of wealth had a nice run. It survived from the Neolithic revolution until the digital revolution, when it was rendered obsolete. It transformed young sturdy women with bows in their hands and hair on their legs into airbrushed trophy wives who sell their bodies to the highest bidders. What we know as a human being today is entirely corrupted by thousands of years of civilization, during which a corrupt aristocracy disproportionately passed on its genes and turned life itself into a cynical pursuit of material wealth. Today we are saying farewell to them.
Have you ever thought about what we are leaving behind us? In a society where social status is inherited, like in India, you eventually end up with hereditary underclasses who are made to carry around leaking baskets with human excrement on their heads. Alexandra Kollontai became a Marxist after her aristocratic parents prohibited her from marrying a man she met at university, an engineering student of modest means. In the society we are giving birth to, everyone is free to pursue his deepest passions and to make use of his full potential, with no noble birthright standing in between him and his vision.
Does this sound absurd to you? Over the top? Ridiculously optimistic? Well consider this: We have already gotten rid of the aristocracy. Western civilization used to be ruled by a hereditary caste that had complete control over society. The mechanization of agriculture in the 19th century and the abolition of the corn laws led to the demise of the aristocracies. The status quo could simply not be maintained. The concept of a republic, a nation not ruled by a king, was once utterly absurd. Books about the future written in the 18th century, like Samuel Madden's "Memoirs of the Twentieth Century", feature tall tales about religious theocracies in Italy and absolute monarchies in France. What none of them anticipated is that the kind of authoritarian systems they were familiar with could not sustain itself under modern conditions. It seemed as absurd to them that people could be ruled by anything other than inbred aristocrats, as it seems to you when I suggest to you that the concept of wealth itself is in the process of being rendered obsolete.
Eventually we will develop a form of society, where money and financial transactions themselves are an outdated nuisance, an inefficiency. Consider this: You're traveling by train and find out that you don't have a public transport card. As a result, the automated gates that stay closed unless you check in with a card won't open for you. You're hesitant to jump over them, because a camera records anyone who tries to sneak in. You walk to a machine that allows you to buy a card, then you charge the card with money and check in at the gates before entering the train.
Upon entering the train, you notice a man walks around who is tasked with ensuring that everyone bought a card. This is his job, his raison d'être. After the train arrives at its destination, you walk out, forget to check out and hurry back home, here you realize that you forgot to check out and money was automatically deducted from your account. You call the train company, wait ten minutes before someone picks up the phone and ask the lady on the other side of the line to send back the money that was excessively deducted from your card because you failed to check out. Does this sound like an efficient society to you?
Consider a simple fact: In most of Western civilization, we house the homeless and provide them medical care because it's cheaper than to have emaciated people wander around in shopping malls who scare off the tourists, steal bicycles and spread tuberculosis. People find themselves wealthier, by sharing some of their wealth with those who are worst off. It's a more efficient manner of running society, that happens to be in everyone's best interest. Economic inequality, is an economic inefficiency. We live in a non-zero sum game. That is, our current situation is unoptimal, the economy as a whole can benefit from having less economic inequality.
Now hear another plain fact: Your society punitively taxes your income, because you're not benefiting society by working a lot. If you work a 9 to 5 job, as most of us do, you get up, leave your house, get stuck in traffic, sit for 8 hours, which ensures chronic health problems down the line, then head back home during rush hour again. The reason you end up with a similar amount of money if you worked 32 hours, is because it happens to be in everyone's benefit. If you worked eight hours less every week, long-term unemployment would be prevented, because more people would be able to participate in the labor market. You would be able to pick up your kids from school, rather than sending them to daycare. Unless you're a genius, nobody benefits from you "working hard". That's why you're not earning more money from it.
So now you have to ask yourself another question: If society doesn't benefit from your "work", then it's time for you to plan ahead for a future in which it renders your work obsolete. What will you do with your life, when the rat race comes to a stop? What will you do, if the neighbor who watches TV for fourteen hours a day ends up driving the same kind of car as you? If you can't spend your time "getting ahead", then what will you do with your life? That's a question that I want you to ponder.
"Life will lose its meaning" You might say. But that's what all weak men believe who can't think outside of the paradigm they were born into. I live in a society where we no longer fight trench wars with neighboring countries or build colonial empires. My life doesn't feel less meaningful as a consequence. I live in a society where I'm not encouraged to go out and fight in defense of some fundamentalist cult. My life does not feel less meaningful. If I won't have to work to sustain myself, I will quite readily find the means to make my life meaningful. If anything, it would become easier for me to have a meaningful life.
There's always something that can be done. We don't get to it, because we're forced to earn a living for ourselves. All geniuses begin their career with an excessive amount of free time. How could Darwin come up with the theory of evolution? Because he was free to visit the Galapagos islands. Why do we have seaweed that tastes like bacon in the supermarket here in the Netherlands? Because a guy had it served on his platter while he was on vacation abroad. Steve Jobs spent his twenties sleeping on people's floors, smoking pot, dropping acid and visiting guru's in India. People are not creative when they have hoops held in front of them. Innovation happens when people are left free to fool around.
Most people are passionate about something. Even white working class men in early 20th century Western Europe who worked in factories had pigeons they trained and bred for races. When people have free time and more resources than they need to sustain themselves, wonderful things are produced. Those who think we need to be kept busy, have insufficient faith in man's ability to find meaning for himself. If people are nurtered well and treated with kindness, they are able to blossom and begin to improve the world they inhabit.
If people turn into television addicted zombies when their chains are removed, it is because they were left injured by society. Dogs used for medical experiments who have their cages opened are hesitant to step out onto the green grass too. I prefer to look at the examples I know, of people who do understand how to deal with this transition. I think back to a woman I knew, who was granted a small fortune because she survived a plane crash unscathed. She travels across Europe in an old Volkswagen van with her boyfriend, I ran into her at a party held by her friends at a squatted countryside manor. She dances in the night and loves without hesitation and her eyes radiate pure joy. It is clear to me that most people are not ready for the transformations that are upon us. They don't want to live at the end of history. They want to head back to what they knew. But at the end of the day, what you are looking at is nothing to be afraid of. It's just green grass.
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Transcript of George Webb Video Series Part 302 "Hillary's Leakers, Hackers, and Henchmen" [@Georgwebb / #HRCRatline]

  • Day 163.3. Old Guard vs New Guard at Tewksbury, MA - YouTube
    • Day 163 this is part 3
    • And it's too cold outside, so I have to do this inside
    • Here with Task Force, here with Deep Milwaukee
    • And we're just talking about this Frank enzyme Bradley right now
    • And we're trying to see if that's the same person that was in the global Intelligence files there WikiLeaks in 2012
    • And if people don't remember those leaks, they came out, and there are several embarrassing leaks about numerous companies around the world
    • Now, what I put forward to the group was that these were targets
    • These were Andrew McCabe type targets
    • The way infiltration works is you put your person in--kind of like Amy Dacey at Sony--you put your person in right below them, and then you come out with some thing about Amy Dacey telling--Obama jokes--that are off-color and get her fired
    • And then your person goes up, and then becomes a Sony director
    • That is Andrew McCabe's MO throughout his whole career
    • So that's why I say that's probably what he was doing with the Global Intelligence Files
    • I know it's an FBI operation because it was this guy named Sabu who was the handler, who was running around recruiting people to to hack the Global Intelligence files at Stratfor
    • Now, that's the deniability: they're not really hacking, but they say if they get caught oh it's that 20 year old guy that got--recruited by that 30 year old guy, not this team of hackers
    • So having said that the Task Force did a lot of research on this on this Bradley guy
    • And this ENSYM company that's mentioned prominently
    • Now, it's it's not enzyme with a Z it's enzyme turn the Z around to an S
    • And I think its SYMA
    • TF: YMA
    • I think it's actually [ENSYMA (ENSYMA ENGINEERING)] yeah
    • Now, give me some of the background on this guy he's he's a graduate at George Washington
    • TF: yeah master's degree George Washington in public administration
    • G: Well his business is in he worked for CERN
    • TF: a DoD gun license in Texas
    • G: He said he worked for a secret Intelligence agency
    • TF: Yes Secret Government company
    • And I'm gonna guess that's gonna be like a DynCorp or Leidos or Conceras or something like that
    • TF: And he said that he was working on viruses--admitted to that, but he will not go into the details of that
    • G: And his wife has a company called Global Logistics
    • So is she running stuff all around the world to CERN, like Californium, as well as bioweapons?
    • It's kind of although the whole ratline thing that we've been talking about through the whole series, potentially
    • TF: Right, [google redacted] AND HIS WIFE WAS A PART OF THE AIR FORCE NATIONAL GUARD AND SHE HAS A LOGISTICAL BACKGROUND, [/google redacted] she has a degree from Harvard, she does a lot of it a lot of Education behind her, a lot of different companies that she's involved in, a lot of logistics, it's kind of similar stuff that we've seen many many times
    • G: Throughout the whole seriously
    • So--this and the reason why I say Tewksbury, Massachusetts it could be that that's a wink
    • If you have this new guard an old guard--the whole War of the Roses in England was new guarda nd old guard
    • Richard the third, I always think of as Dick Cheney, you know, "Now, as winter of our discontent, made ready by the summer of York"
    • If that's the old guard, if Cheney--Bush all those guys Rumsfeld, and then on the left side Podesta and Manafort etc are the old guard,
    • The new guard could be--Pompeo, Mattis, Dunford, potentially Kelly, potentially the DIA guys like Flynn and Tony Shaffer are the new guard
    • If you wanted to really embarrass the old guard, and say, "hey we know your tricks. By the way, this guy was an expert (or not an expert)...But he was carrying around a lot of Blackberry enterprise servers as well as BlackBerries. Is he the replacement for Imran Awan, for secure encrypted communications?"
    • Again, anytime I see that it's kind of like, "well why do you have a burner phone--why do you have 18 burner phones in your backseat?", sir? --That kind of thing
    • It's kind of another signature, that says, "hey this person could be involved in illegal activity"
    • The best way for the old guard to catch the new guard to embarrass the old guard is to catch them in a city about ready to do something--
    • The Boston Marathon is coming up on the 17th in Boston: is this another repeat of the Boston Marathon?
    • Remember Graham Fuller yeah I did the Gladio plan Gladio B, now, is this Gladio C
    • Again, the Clockwork Orange thing--let's let's make a lot of terrorist incidents to get funding and keep our power--is that what's happening?
    • And the fact it's in Tewksbury was one of the key battles of that War of the Roses, where the new guard won and made our current Queen
    • So any last thoughts on?
    • TF: the only other thought was he called the police saying that he thought someone was breaking into his room at the hotel--they had guns in this hotel, which makes absolutely no sense to me if you have a--a storage full of AR-15s and weapons and gas masks and stuff like that, you call the police on yourself
    • TF: Especially if you're part of some secret Government program
    • G: Unless the new guard was trying to embarrass you
    • TF: Right, or the new guard made the call
    • G: the new guard made the call that was embarrassing you
    • {{ 911: just an observation: Maybe Agent Pettiworth et al thought YOU and Jason were part of the new guard and not just concerned citizens? }}
    • {{ 911: youtube is very incapable of transcribing TF, its annoying as f }}
    • TF: They said [that/not?] for the police to go into the house. It was coming out in the paper is that he made the phone call and that seems kind of ridiculous to me. Maybe the new guard made the phone call
    • G: Unless he had a remote camera, where he could see people going in to
    • TF: even then he would go back himself. I mean you wouldn't call the local cops
    • G: Right. So it looks like maybe that may be Andy's coming in to cover for him or something
    • But it looks like it we could have averted something happening
    • I think of Claude D'estre every time I think of the Boston Marathon
    • And [thinking] "Claude you would look at awful lot like that guy who was six feet away from the bomb, and is this another Colorado CIA School of Mines operation?"
    • So we'll see we'll see what happens
    • But I think people are going to connect the dots on this one
    • And certainly there's a very active Q, would you say Deep Milwaukee?
    • There's a an active Q discussion on this right now?
    • DM: Not Q but the anons
    • G: Ok not Q but the Anons
    • So there you have it
  • Day 164.4. SAIC’s Sam Visner Did NSA, MdA, and MITRE - YouTube
    • It's day 164 part 4
    • So here is where I met Deep Florida, this boarding officer for the Coast Guard the other night
    • He kind of confirmed the things that we had said about maritime data awareness packages
    • And how that they could call off interdiction people like The Stzroks family in Corpus Christi, or The Strokes family in San Diego can say at the Coast Guard level uh-uh from DIA can send a message down saying
    • No interdiction guide that boat to the target or I could bring a yacht into Port of Miami or port of Jacksonville or Port of Tampa or all the way up and down the coast--Charleston, South Carolina, Virginia Beach, all the Navy ports all the way up to where Joe Crowley is with his Wackenhut boat
    • So that's good
    • I want to talk to Deep Florida again, and we probably need to talk to him more, because that's real on the line, on the front lines Intelligence, where he was--seeing these same drug dealers over and over and over again at the 24 mile marker, and the nautical mile marker
    • The other thing about the first story we did today which was Bill Binney
    • It kind of dovetailed into that because SAIC, is the one who wrote the maritime data awareness package for all this
    • SAIC is also the company that wrote trailblazer, the program that took the place of thinthread--Bill Benny's thinthread
    • And the guy who bought it is a guy by the name of well there was one guy by the name of Ben Black, who was SAIC
    • And then he hired a guy named Sam VISNER who was also SAIC
    • So a lot of these NSA guys end up being SAIC guys
    • And that's the revolving door as far as the Navy's concerned
    • And you might have seen us cover that when we went up to Laurel racetrack
    • We talked to all the SAIC guys ex-Admirals who were--parlaying their horses around the Laurel Park
    • The second story we did today on Frank Bradley, Frank enzyme Bradley, was also interesting because he's in these global Intelligence files of the WikiLeaks
    • And I looked at the files there's 29 of them
    • And they're mostly spreadsheets
    • And there's it's kind of the same kind of audit coded spreadsheet
    • It goes from 2004 to 2011 there's 29 spreadsheets
    • And his emails in there
    • And it's for like 1995 a month
    • And there's all these Army guys
    • So that unlike--Bill Binney, and the Navy, and SAIC, and NSA
    • This was the second story we did today which is Frank enzyme Bradley, with the Bradley Fighting Vehicle right, turns out its Army--is that a fake name, because he's Army
    • And he's dispersing Army--gas masks and flashbang grenades and all sorts of things to JTTF units all over the country to these dog teams that that we've got?
    • Who knows--we don't know that
    • But it is interesting he is in this kind of list
    • And does that list get compromised in 2011?
    • ...And that's why the Fusion GPS is created?
    • Still, we don't know the answer to that either
    • But meeting you had another whistleblower here, so we're gonna stay in Milwaukee a little bit longer
  • Day 164.6 Meet Leah Vukmir - Next Senator From Wisconsin - YouTube
    • It's day 164 I think this is six
    • So we met the Senate candidate here that's going up against Tammy Baldwin
    • I wanted to--make a political statement, helping Paul Nealon against Paul Ryan here
    • Now, he lost by 50 points
    • So--Paul Ryan's gonna win
    • But it's probably more important that Leah Vukmir win as the candidate in the Senate seat, because the weight Wisconsin's organized is they have one Republican Senator and they have one Democratic Senator
    • Ron Johnson, as you probably know as the Republican Senator, he's in the Intelligence Committee...and been a good supporter of transparency
    • And then there of course is Johnson Wax in Milwaukee
    • And then there's Johnson Controls in Milwaukee the--the building controls
    • And then there's also Johnson & Johnson and Racine
    • So there's a lot of Johnson's going on here--I'm gonna stay away from that {{LOL}}
    • But Tammy Baldwin the Democrat is coming up for reelection
    • And the III I talked to her quite a bit
    • Leah is a very nice person, and she gave me about a half an hour of her time
    • And what I like about her she's a nurse
    • So she's got--she's just a nurse who wants to do the right thing
    • But she's very involved with manufacturing
    • And very involved with the police unions, the fire unions, the emergency services, all the people that are first responders
    • So I really wanted to give a strong statement of support
    • And again, a candidate that comes out says "hey I saw you, I want to come out, I want to meet you I want to introduce myself"
    • And I think these are the important people
    • She said I wasn't on the Trump train at first--she's a big Scott Walker person
    • She was part of that whole kind of hey you can't hold the--Government and the people, SEIU, you can't hold everybody hostage
    • But she said hey as as I got to know Trump better I got on the Trump train, and I'm a really strong Trump supporter
    • Again, I think Trump of I sat with all slew of of Trump supporters
    • Democrat and Republican tonight
    • And the key thing I keep hearing is: he's a businessman. He wants to bring jobs back to Wisconsin, and Michigan, and Ohio, I'm from Ohio--Indiana, I'm from Indiana
    • I want they want to bring jobs back I don't care if it's Mugwump or whatever, your party is, Trump wants to bring jobs back
    • So I want to support her I want to tweet her out
    • Again, it's Leah VUKMIR V U K M I R
    • And I think it's just a strong candidate
    • I think it's it's a person who it didn't necessarily doesn't have Paul Neilins background in manufacturing
    • But she know she's making an active effort--she's been in 66 of the 72 counties
    • And I just wanted to make a strong statement, because I just believe that she comes out, everyone I introduced her to tonight she's listened to and interacted with and listened
    • And as is kind of a person of the people
    • So I don't normally do political things
    • But this is a candidate I felt very strongly about, and her platform
    • And she needs to of course when the primary--it's a late primary here in Wisconsin--it's an April primary
    • So it's important that we do a lot of meet and greets
    • And a lot of fundraisers early to make sure that these kind of candidates get a chance to win in November against a kind of a very globalist
    • And I hate the word 'globalist'
    • I like the word 'carpetbagger' -- I've seen the destruction of towns in my hometown in Fort Wayne Indiana International Harvester plant left when I was in--teenager
    • And I've seen the destruction in Ohio, firsthand
    • And I've seen the destruction in Michigan
    • So I'm not as familiar with Wisconsin
    • But--you got Harley Davison
    • And we had this trade discussion--let's just take all the names
    • And brand names out of it
    • If it was Brand X over here
    • And that's your trade representative
    • And brand Y over there take China out of it take take the U.S. out of it
    • If your guy came back, and said hey I got a great deal we pay 35% tariff over there
    • And we get 1.2 percent tariff on their stuff coming--isn't that a great deal?
    • Everyone would say you're no longer our trade representative--get out
    • That's what we have right now,
    • And I think it's a hundred percent tariff on harley-davidson products in in Japan
    • And at least to 35% in China--I'd like to check those facts
    • So anyway lots of trade discussions
    • I know everybody's watching Final Four, but I just wanted to throw that out that we have a US Senate can adhere tonight that came out to me, and she wanted to tell her story, so there you have it
  • Day 165.1. The Good America - Binney, Wormwood - Olson Part 1 - YouTube
    • It's day 165
    • And this is part one Happy Easter everyone
    • Still bloody cold here somebody from Tewksbury--Gloucester, actually--about five miles from Tewksbury
    • Said they reenact the Battle of Tewkesbury every year
    • So I thought that was interesting
    • So maybe we'll reenact the old guard and the new guard with the Tony Schaefer and the Cyber Command boys
    • I expect Tony Schaefer to be getting a position with the Trump administration here pretty quickly in the Intelligence area
    • And maybe these Army guys--these Army Intel guys will push through a split with NSA and the Navy Intel guys
    • So we'll have a check on the Navy Intel boys
    • So anyway that's Tewksbury
    • So that's this battle reenactment they have in Tewksbury, where this guy was caught with these enzymes Frank enzyme Bradley
    • Riding around and his Bradley Fighting Vehicle throwing out bill swing enzymes on the population flu and flu viruses on the population it
    • Was he doing that? Who knows
    • But we can go look to Tewksbury now, every year to reenact our battle between this Navy
    • And Intel Command
    • And these new Army cyber boys that's that battle is developing one two great documentaries out
    • And it almost tells our story in terms of what a format of this story might look like
    • One is the "Good American", which tells a Bill Binney story about how he had Thinthread how this guy named a SAM Visner came in said oh my gosh this is great we're gonna do trailblazer instead collected all
    • Then when 9/11 happens, Sam Visner is the guy who says, "this is a cow we can milk for 15 years at SAIC"
    • So he leaves NSA, the Sam Visner, and goes to SAIC
    • And these are direct quotes--that this is the--opportunity of a lifetime
    • That same Sam visitor is in this Q discussion now, with this MITRE group in this this Highland Forum in this kind of public-private, pay-to-play partnerships
    • So, interesting to follow these things "full flight of the arrow" as I call that, all the way from 9/11 pre 9/11 all the way till now,
    • Sam Visner still doing--and SAIC--does the maritime data awareness program, said that ZIPZORP was talking about SAIC
    • SAIC formulates themselves with a new name called LEIDOS it's kind of a shuffle giving us a little "lead" LEIDOS shuffle--it's still SAIC, psst STILL SAIC
    • So a little Leidos shuffle there
    • So anyway the good American talks about how 9/11 could have been avoided with Bill Benny's Thinthread
    • And a lot of the folks I've talked to Diane Roark at length
    • I've talked to Curt Wiebe
    • And interacted with him on Twitter talked with Bill Binney
    • So a lot of the people in the series I recognized
    • And I've never never talked to a Thomas Drake, though, Tom Drake
    • But I would like to
    • But I think it's a great series to watch for the first part of our series, before the Awans got involved which is surveillance
    • And the misuse of surveillance
    • And maybe the Awan's are a part of that too, because you use a third-party Intelligence service like PAC ISI to have deniability on surveillance
    • But then there's a second part, which is not just surveillance, but now disruption we're actually gonna go out and try to make you--your life miserable
    • And that's really the second documentary
    • And it's a six-part 40-minute a shot documentary called Wormwood
    • But it is the dirty tricks part of the CIA, getting rid of you once you become a problem, once you start saying hey this isn't good
    • And we're using these truth serums and scopolamine to do--parties it--late at night in Montreal with--our good doctor up there, Dr. Gottlieb, where we did a series at the <
  • Day 165.2. Wormwood Part 2 - Bill Swing’s Ft Derrick - YouTube
    • This is part 2 of day 165
    • And this is following up on wormwood
    • Great movie, because it it's kind of also William Kobe versus Sy Hersh in terms of getting the story about out about Frank Frank Olson
    • This guy who was worked at MKULTRA, Sidney Gottlieb, at the McGill University in Montreal where we were in this series
    • So a lot of the places
    • And things that we've mentioned the series Fort Detrick and the bio weapons program in Maryland...are you go around to these different places and it connects all the dots in a long format, which is really nice
    • And here's Sy Hersh at the end saying, "hey this story's too big for me"
    • And we're we heard that before I feel like he was just recording our ending, and just said well let's just slap it on the end of this documentary
    • But anyway you'll see Sy Hersh say this is story's too big for me at the end, in that in that story
    • But this guy Frank Enzyme Bradley--being caught: was that just so they could double down the amount of spending on the Boston Marathon on the 17th?
    • So was that kind of an inside job the old guard kind of their little clockwork orange' Games?
    • Fear
    • Or was it the new guard was it kind of the new US Cyber Command--kids was with with Flynn and Tony Shafer who I expect to be named to position Intelligence position with Trump here pretty quick?
    • Was it this new split?
    • This new separation of powers were gonna have between the Army guys--the US Cyber Command, and the Navy guys that the NSA?
    • Who knows? We'll see what happens
    • But it was interesting tie into this guy who was at the CDC, who went disappearing
    • Is that why all these flu viruses are being disseminated in these different places?
    • Who knows
    • And also we have the NRA event coming up in March May 3rd 4th and 5th
    • Did Krylova and Bogacheva go to that before? Yes of course they did
    • That was in Dallas this year
    • But where was it before?
    • Where where was Ted Cruz? Where with all those events?
    • We still don't know--none of that's come out
    • And one of the other things I've noticed about the Q phenomenon is I much I have a much greater understanding of how unknowns with Q and being on boards
    • And talking with all these people last night that follow Q
    • And the creation of these memes
    • And I think that's something that our series needs to do is create memes from the series
    • And so I'm gonna continue to create these playlists
    • So that people can go through
    • And say here's all the Navy Intel--from beginning to end in the whole series
    • And then create a Navy Intel meme with the old ones because I think the ones are extension of Navy Intel
    • And then do the same thing for the other significant memes in the in the series
    • So even though Q took a lot of my viewers away
    • And a lot of my researchers away, in a way it's good, because they show you a more effective way of doing open sourcing, creating these memes...
    • So I look forward to a good day of reporting
    • We won't say where all the places we're going, but have a happy easter everyone
  • Day 165.3. Preview of Andre Taggart Reveal - NNSA - YouTube
    • OK It's day 165 and this is part three
    • And this is sort of a sneak peak to the solution to the whole series
    • And I've said before we're kind of going from a pay-to-play world where things were doing below the table
    • And I the three initials there are MBZ the crown prince of Abu Dhabi
    • And sort of Hillary Clinton moving into the Trump world which is MBS, which is above the board--crown prince of Saudi Arabia or just do everything aboveboard
    • And the people who are doing the below the board business are pissed
    • So this series really has been looking at how that below the board business was done
    • So collecting metadata on how that was done--David Petraeus--the create the creation of this rogue NSA which is NNSA
    • Which is Not so Nice NSA
    • Basically created a Uranium cover for the last 20 years
    • And everything basically below that was this weapons for drugs or weapons for minerals or weapons for human resources kind of business
    • And that's the story of the last 20 years in Hillary Clinton and the whole crew,
    • And Navy Intel and her kind of unholy creation of this alliance with with NCIS or or this just rotten core inside a Navy Intel
    • So I just created a list about Navy Intel if you want to review the Navy Intel list if you haven't been following this series
    • But basically you have to find the server: where are they doing this?
    • You have to physically find it
    • So we go to Washington DC we we find--we collect a lot of metadata
    • We find the Lorton address where all this business is being conducted
    • Now, I do I think that's the real address?
    • No, that's the parallel construction if they ever get caught
    • They say there's deniability--it's just a just a group of people that are doing--find a bank fraud there's a small deal--it's not a big deal
    • The real action is at the Navy Yard
    • And that building 213 an old DIA building which was called a Threat Analysis Center
    • And this we've said this in the series for almost a year
    • So this isn't any surprise to anyone
    • The part I'm gonna let out today is I knew Taggart was a fake from the beginning
    • And I knew Tane Taggart was a fake from the beginning
    • I knew that I mean they weren't--just renting the property
    • But there was a reason why I had to go with that deception, because you let people who are in the business
    • (And they're just doing their jobs, right?)
    • You let people who are doing the business let the let the charade play out let the school play play out because you get valuable data although all along the way
    • I had to make Taggart the hero in order so other people would come forward and so he would continue talking
    • That was the key part
    • Keep giving us more metadata
    • It's too bad we couldn't have had a couple of more interviews with Taggart a couple of more interviews with Laurel Everly
    • All the people that are kind of either knowingly or unknowingly involved
    • An Tane Taggart would have been a good interview
    • Jacquayla would have been a good interview
    • But that's fine we still solve a puzzle now
    • Which is basically the drives were the takeaways for going to Pakistan--that those were the real drives--the ones that went in March, not the ones that were the decoys in April, that were left in the Rayburn office building
    • And that was the server's--that's how the trade occurred
    • It was on that caucus server--the drugs for weapons trade
    • The next thing was once got the servers--and the Sprayer home could have also been a place where people were were compromised
    • But then the next piece in in the whole thing is actually how do they do it?
    • And it was with these containers and
    • So we got down to the containers
    • And then how what goes into container?
    • So we really really got to a granular level with the cars--Alpha Jalloh ring to do all that
    • And everything else since that has been proving who with in Navy Intel have been the key people to put this whole thing together?
    • So I'll just leave it right there Taggarts a good guy
    • I think in Bethesda I remember I was in Bethesda, Maryland
    • And I almost said Taggarts role
    • And I held off, because I wanted to find out more about the people that were inside Navy Intel they we're actually running this
    • But I think you may know who who those people are already
    • But I'll just leave that for a more non XSTAR general logistics pay-sized version
  • Day 165.4. Saipov’s Mt Prospect Trucking - Near Blues Brothers Auto Auction - YouTube
    • It's day 165 here we are at beautiful Bussy Road
    • Go down to the end of this road on Bussy Road here in beautiful Mount Prospect
    • And you have the Mount Prospect auto auction of Blues Brothers Fame
    • Remember that Jake said we are on a mission from God
    • So the interesting thing about this is Saipov
    • Saipov truckers
    • They have a Saipov--the guy who ran down did the run down in Chelsea--ran over those five Argentinians
    • I think one of them was a nuclear scientist
    • The other one was that woman from Belgium the Belle from Belgium
    • We also have though sighs I've had a trucking company in Cincinnati trucking company
    • And car company in Cleveland car company here in Mount Prospect, Illinois close to Rahm Emanuel, close to Schneider, we're jan Schakowsky's district now
    • And of course one in Tampa
    • So the key here is chain migration and lottery: not such a good plan
    • The Saipov truckers? Not such a good plan
    • The Uzbekis--drugs going one way, weapons going the other, Uranium cover: not such a good idea
  • Day 166.1 Naugty NSA School Play Falling Apart - YouTube
    • It's day 166 part 1
    • And yesterday I revealed Andre Taggart is sort of a player in a Shakespearean play, if you will, covering the Awans, and the state support of the Awans spy ring in Congress, as well as Awan-Contra: the trading scheme for weapons and drugs in the Congress
    • Did they also have a sex ring in Congress, with all of the Awans beatings?
    • Well that's for another day
    • But certainly Taggart would have nothing to do with that
    • But the I am dubbing NNSA or the naught NSA as the key conspirator behind this, in much the same way we can say the revolt from the West at Tewkesbury 500 years ago was led by Richard the 3rd, I'm pinning this on Andrew McCabe, Hillary Clinton, and the NNSA
    • This is going to be a kind of a as we've said before kind of a power elite move
    • Its gonna be SAIC, key contractors like Lockheed, Northrop Grumman, doing major projects like Trailblazer at NSA Bill Binney Fame versus Thinthread, as well as Maritime Data Awareness applications like the application we singled out which was the Pandas, which which lines up well with Seth Rich in the Congress
    • You don't remember yesterday or the symbol first of all for NNSA
    • Here's I dubbed this this morning about four hours ago
    • And I talked about the different contractors involved in the NNSA
    • Now, I also created a playlist
    • So if you're not familiar with all the eleven or twelve different videos I've done on NSA
    • But the key here is Uranium under color-of-law with Uranium, now, I can trade anything below
    • And it provides me kind of the same sort of drayage that it provided the British Navy
    • Don't tell me what's of below decks just tell me how much it weighs and give me my commission for transporting it
    • And I do believe that Navy Jack has kind of I'm not going to say manipulated Crowdsource the Truth
    • But I do believe it has been sort of an information operation since the beginning to put the lid on this NNSA activity
    • I think the folks there knew that this would eventually come out if the crowd dug in on it
    • And there's been all kinds of diversionary tactics
    • But I think yesterday, Navy Jack threw the towel in
    • And now, he's trying to do anonymous strikes
    • So I won't say who Navy jack is specifically, but there are a few Navy Jack's out there
    • And specifically I think what they want to bury as this Andre Taggart interview in this Laurel Everly interview
    • Because it flies directly in the face it flies directly in the face of the truth and
    • But they give away key facts that unravel this whole NNSA pay-to-play scheme
    • I think also all of the anywhere you see those routers that at the Sprayer house that Jason filmed are going to be important as well
    • So I do believe the NNSA is trying to shut it down
    • Whether that's a Navy Jack or not we don't know for sure
    • But here's another article that came out that said, "oh by the way we all signed a slip a paper that advocated our rights of checking out and vetting The Awans in this scheme"
    • It's obvious that once a spy ringin Congress and also arms for drugs trading ring in Congress has state support and
    • So after the fact these 44 different Democrats are gonna say, "oh, but there was a piece of paper that we could sign that have been abdicated all our responsibilities in terms of vetting, because Debbie Wasserman-Schultz said so"
    • And I think we're hot on the trail of all the pieces of this network
    • They brought in these Uzbeki truckers to ship this stuff around here in Chicago--where I am in Mount prospect--was just one of the many trucking companies two in Ohio, one in New Jersey, in Paterson, New Jersey; one in Tampa, Florida as you can see here
    • So eventually with research this will all come to light
    • And that's why I think they want NNSA wants to bury these buried these films of Andre Taggart
    • So that's where we are today
    • I just want to say that I think we're hot on the trail
    • The metadata leads me to believe more than ever that we will put the pieces of the puzzle together even if we don't get certain documents from the court
  • Rosemont Casino - Bring Out Your Hawala and Your Dead - YouTube
    • Beautiful day 166 this is part two here at the Rosemont casino
    • And I just want to show you if you just recently had a sniper incident where an unfortunate person died at your hands you could bring the body here
    • And I'll show you how far you have to go to turn the body in to get five thousand dollars in chips here at the Rosemont casino
    • And I'm not kidding
    • If you look up Bioresource Center
    • And this is a show we did a long time ago I think it might have been over a year ago
    • We talked about there was prisoners at Holman square down south of Chicago down by the United Center where the Bulls used to play
    • That was a key place for bringing in--just as Christopher Steele does liaison operations, Intelligence operations in the United States for the FBI, we do liaison operations for other countries here in the United States for them
    • So we torture prisoners here for other countries
    • Again, that eludes their rules about informing their oversight bodies about operations
    • So if you don't remember what a liaison operation was: it's a way of avoiding the reporting that's in our Constitution about talking to the gang of eight, which is four people from the Congress on the Senate side, four people in the Congress on the on the side of the Senate
    • Two Senators from each party, two Congressmen from each party
    • But literally right there village of Rosemont is where BioResource Recovery Center was
    • Now, I'd only have to walk a little bit further down under that bridge to actually go to the USDA facility
    • Now, the USDA facility--if you recall--is where what we had right next to our our Gülen schools
    • I can't remember--they usually give a a name like Wisdom schools or Affinity schools or--Great Clocks by Kids Schools--they give them some kind of lofty name which is fine
    • But if you remember my visit there we basically had a lot of great teachers
    • So that they can farm the money through, and launder the money through
    • It's always great it's like a union you can always farm the money through gangsters love unions lots of workers lots of paychecks
    • But then you have one guy who can sue who's an English teacher from Turkey or some country like that: usually Turkey
    • And he is the interpreter
    • And then you got one guy in the back that cannot speak a word of English
    • And I call him the Halal money changer
    • So right behind me is O'Hare Airport
    • And literally all day he does is just count out Halal
    • Now, what comes into this you a facility here?
    • Well fruits and vegetables and also meat perishables things that could carry insects etc or food borne viruses
    • So they need to be irradiated
    • They need to make a trip to Ames, Iowa
    • So if you don't remember that part of our trip, you can go back and look at that
    • USDA
    • Now, I did
    • (I hope I don't get a copyright strike on the parking lot music)
    • I did interview a USDA person, and it turns out they loan a lot of money now to women farmers and also minority farmers
    • They want to get women started in farming and minority farmers
    • This turns out to be extremely difficult to get an American a loan
    • But very simple if you're from a different country
    • I know that's gonna us I know how hard that is gonna be for people to believe
    • Again, ninety nine point five percent of the people in USDA doing a great job
    • I only need to compromise 0.5%
  • Day 166.3. Delivering Imran’s Bitcoin To Rahm From O’Hare - YouTube
    • Day 166 part 3
    • I've now, made it from the airport with all the Halal cash
    • And the hawala you can see the armored car here I'm bout ready to take it in to Rahm Emanuel here at City Hall behind me
    • But before I do that because it's all Bitcoin now, it's all on hard drives, it's all on Imran's hard drive
    • So there's literally terabytes worth of Bitcoin
    • So makes it easier than the old days where you needed a big Brinks truck I still like to ride in the Brinks truck
    • But as you remember from the movie The Blues Brothers
    • You've got the Picasso here looks like it's a different color
    • Maybe this isn't the Picasso? Maybe--the I thought the Picasso was across the street from City Hall anyway
    • Well we'll go over there and find out if it's a Picasso or not
    • Maybe they replaced the Picasso
    • This is the scene where all the police cars pile up the Chicago police cars the Chicago's finest over there as you can see I do believe this is Richard Mary Daly square if it's not that I've just made a mistake
    • But as you can see now, all I need is hard drives to take Bitcoin to Pakistan
    • And I'm saying that probably happened on the 7th of March
    • And I picked up where I found the decoy about a month later with Andre Taggart
    • And now, of course I've exposed Taggart, because I see them shutting down the channel
    • I see I think there's foul play--in the runs--rotten in the state of Denmark, something rotten in the state of Denmark as Hamlet would say
    • So if that isn't Picasso then I don't know what is
    • But I do think there's something rotten in the state of Denmark
    • And they're shutting down Jason's channel we have to get all those interviews
    • And phone calls from Taggart before they go away as--44 different Democrats, maybe up to 50 waved, doing a background check on Imran Awan
    • And all the conspirators Lisa Maria Bartiromo says it's the biggest story of the year that's not been covered
    • The biggest uncover story of the year the story is breaking now and you're live to see it here in Chicago
    • And just I want to say hi to Rahm
    • Bole di Juggies is doing great, Rahm
    • I got all the Bitcoin: we got it all!
    • We got it all baby, nobody stopped us: Andy didn't stop us at the airport: we got it all
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