Units - Bitcoin Wiki

How to purchase and exchange your litecoin! (longer read)

This post will show you the best ways to buy litecoins using many different payment methods and exchanges for each method.
Before you start, make sure you have a good litecoin wallet to store your LTC. NEVER store your litecoins on a crypto exchange.

Popular Exchanges

eToro
Coinbase
Coinmama

Buy Litecoin with Credit Card or Debit Card

Let’s dive into some of the exchanges supporting Litecoin credit card purchases.
These exchanges are our favorite ways to buy.

Coinbase

Coinbase is the easiest way to buy litecoins with a credit card.
Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia.
The fees will come out to 3.99% per purchase.
Here is a good video that can help walk you through the process of buying on Coinbase, although it’s fairly easy.

Coinmama

Coinmama recently added the ability to buy litecoin directly on the platform. Users from nearly any country in the world can use Coinmama to buy litecoins.
Coinmama has some of the highest limits among credit card exchanges.

BitPanda

BitPanda is based in Austria and is a crypto brokerage service. You can buy using a credit card from most European countries.

CEX.io

CEX.io is based in the UK and is one of the oldest crypto exchanges online.
CEX.io supports litecoin and its users from nearly anywhere in the world can buy litecoin with credit card on the platform.

Buy Litecoin with Bank Account or Bank Transfer

Coinbase

Coinbase is the easiest way to buy litecoins with a bank account or transfer.
Coinbase, like is is for credit cards, is available in the United States, Canada, Europe, UK, Singapore, and Australia.
Coinbase is one of primary exchanges used to buy Litecoins.
Americans can use ACH transfer (5–7 days wait), and Europeans can use SEPA transfer (1–3 days wait).
The fees will come out to 1.49% per purchase.

BitPanda

BitPanda is based in Austria and is a crypto brokerage service. You can buy using SEPA transfer from most European countries. You can also use SOFORT, NETELLER, or GiroPay.

CEX.io

CEX.io also supports litecoin buys via bank account. This is via wire transfer for US citizens, SEPA for Europe, and SWIFT for the rest of the globe.

Binance

Binance is now one of the largest if not the largest cryptocurrency exchange in the world. It supports bank and card purchases of Litecoin as well as Litecoin trading pairs with Bitcoin and Etehreum.

Get a Litecoin Wallet

Before we move onto other options:
Never store your litecoins on an exchange!
Always withdrawal your litecoin to an offline cryptocurrency wallet like the Ledger Nano S or any other wallet that you control.
The Ledger Nano S and TREZOR are the best options for secure storage.

Other Methods to Buy Litecoin

If you don’t have a card or want to avoid the high fees, you can use the following methods to buy Litecoin as well.
Find out which one works best for you.

Buy Litecoin with PayPal

Unfortunately, there is no easy way to buy Litecoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case.
You can, however, now use eToro to buy Litecoin, unless you live in the United States.
If you live in the US, the only way to buy Litecoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litecoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Litecoin.

Buy Litecoin with Cash

There is no good way to buy litecoins with cash. LocalBitcoins is the most popular way to buy bitcoins with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC. So you will have to first buy bitcoins with cash then exchange them for LTC using the method described below.
The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for litecoins.

Buy Litecoin with Bitcoin

If you already have Bitcoins then it is VERY simple to convert some of your BTC to litecoins.
You just need to find an exchange with the LTC/BTC pair, which is most exchanges since LTC/BTC is a very popular pair to trade.

Buy Litecoin with Skrill

BitPanda, mentioned above, also accepts Skrill payments for LTC. The fees will vary and are simply included in your buy price.

Cryptmixer

Cryptmixer is probably the fastest way to convert BTC to Litecoin. You just enter the amount of LTC you want to buy, and give them a LTC address. Then they will tell you how much BTC to send to their address. Once your BTC is sent, you will have LTC delivered to your wallet very shortly after.

Buy Litecoin with Ethereum

Ethereum has experienced a massive price rise. Nearly a year ago it was $10, and now at over $500, many want to move some of their ETH gains into other coins like Litecoin.
Litecoin has very good liquidity, and is very popular among traders especially in China.
So this guide is going to show you how to buy litecoins with Ethereum. We will show some of the best exchanges you can use, and the pros and cons of using different types of exchanges over the other.

Cryptmixer

Cryptmixer is one of the most unique exchanges, and also one of the fastest ways to convert your ETH to LTC.
With Cryptmixer you do not even need to store your money with the exchange, meaning you are at very little risk of getting your funds stolen.
With Cryptmixer you simply specify the amount of LTC you want to buy, and specific the address to where your litecoins should be sent and within 30 minutes you will have LTC delivered to your wallet.

Poloniex

Poloniex is the world’s largest altcoin exchange. However, there is a huge downside to using Poloniex to convert your ETH to LTC:
Poloniex does not have a LTC/ETH market, meaning you have to first trade your ETH to BTC, and then trade your BTC for LTC.
While this method works, you will have to make multiple trades and also pay fees twice.

ShapeShift

Shapeshift is basically the same as Cryptmixer, and was actually the first company to come up with the concept of an exchange that does not hold your own funds.

Frequently Asked Questions About Buying Litecoin

Many of you may still have lots of questions about how to buy Litecoin.
Odds are we have answered almost any question you could think of below.
We will aim to answer many of the most common questions relating to buying Litecoin.

Why are there limited options to buying Litecoin using other altcoins?

The issue in all crypto markets is liquidity. As the space gets bigger, the liquidity also gets better. But as of now, the only VERY liquid cryptocurrency is Bitcoin. So exchanging two altcoins between each other is often harder than if BTC was involved on one side of the trade.

How much is a Litecoin worth?

Like all currencies, the value of Litecoin changes every second. The value of Litecoin also depends on the country you are in and the exchange you are trading on. You can find the most up to date price on Coinbase.

How do I buy Ripple (XRP) with Litecoin?

The best way to buy Ripple using Litecoin is to either use a non KYC exchange like Cryptmixer or start an account on Binance or Coinbase Pro and sell your Litecoin for Ripple. Look for LTC/XRP trading pairs, and make your trade.

How long does Litecoin take to confirm?

Litecoin blocks are added ever 2 and a half minutes. That means you should get one confirmation every two and a half minutes. This can vary if it takes miners longer to discover a block, but the difficulty of the finding a block should change proportionate to the hashing power on the network so that a block gets added approximately every 2.5 minutes.
If you are trying to send money to a merchant, they may require more than one confirmation before they send you products. If you are depositing on an exchange, they may also require three or more confirmations before they credit your account.

How many Litoshis make one Litecoin?

one hundred million (100,000,000) Litoshis make one (1) Litecoin.

Where do I store Litecoin?

The best place to store litecoin is on a hardware wallet. You can find the best one for you on our page dedicated to hardware wallets.

When is the Litecoin halving?

The expected date of the next Litecoin block reward halving is August 7th, 2023.

Why can litecoin take so long to buy?

Litecoin can take long to buy because the legacy banking system is very slow. If you are buying with another cryptocurrency, you will see how fast it is to buy!
Bank transfer in the USA, for example, take about 5 days to complete. So any purchase of Litecoin made with a US bank transfer will take a minimum of 5 days.

How do I buy Litecoin with Paypal?

Unfortunately, there is no easy way to buy Litcoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case.
You can, however, now use eToro to buy Litcoineum, unless you live in the United States.
If you live in the US, the only way to buy Litcoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litcoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Cryptmixer to swap the Bitcoin for Litcoin.

Can you buy partial litecoins?

Yes, litecoin, like Bitcoin, is divisible to many decimal places so you can buy 0.1 LTC, 0.001 LTC, etc.

Can you sell litecoin?

Yes, you can sell LTC on most of the exchanges mentioned above. The fees, speed, and privacy is the same in most cases.

Can anyone buy litecoins?

Anyone is free to buy litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in litecoin, too.

Which payment method is best to use?

For speed, credit card will likely be fastest. For larger amounts, bank transfer is best. For privacy, it’s best to buy bitcoins with cash and then trade for litecoins using Cryptmixer or Shapeshift.

Is it better to mine or buy litecoins?

If you have cheap electricity, it might be worth it to mine litecoins. If you have solar power or just want to mine for fun then it could be worth it. Otherwise, it’s probably better just to buy.
Mining is constantly changing and small changes in Litecoin price or electricity can greatly affect your profitability.

What should I do with my litecoins once I buy?

You should immediately move your litecoins into a secure wallet. You should never leave your litecoins on an exchange. There have been countless hacks in cryptocurrency since Bitcoin was created in 2009. Hundreds of thousands of people have lost money. So buy your litecoins, and then instantly send them into a wallet you control so you are not at risk of losing money to a hack or scam.
submitted by MonishaNuij to MonMonCrypto [link] [comments]

ETHE & GBTC (Grayscale) Frequently Asked Questions

It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions.
The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here). I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect
Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale? 
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE? 
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF? 
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed? 
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created? 
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc. informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product? 
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
Source: Creation and Redemption of Shares section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow? 
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A. on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH? 
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares? 
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure? 
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE? 
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing? 
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain? 
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel? 
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely.
IF redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]… 
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0? 
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?” 
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you doesn’t mean it can’t provide value to someone else. That said some of the advertised benefits are as follows:
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium? 
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:

Are there any other differences between ETHE and GBTC? 
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc? 
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH? 
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale? 
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
https://coinshares.com/etps/xbt-provideinvestor-resources/daily-hedging-position
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE? 
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.

submitted by Bob-Rossi to ethfinance [link] [comments]

HOW BITCOIN WORKS

HOW BITCOIN WORKS

Bitcoin Definition

Bitcoin is a digital store of value and a disinflationary digital currency designed to facilitate financial transactions without a centralized intermediary and government control.
You can read the original Bitcoin whitepaper by clicking on this link
https://preview.redd.it/6tyw59woq4p51.jpg?width=496&format=pjpg&auto=webp&s=7a1c96a3ecc42ce18a27f47f33eca96f1bc2df92

Bitcoin Characteristics

Bitcoin has the following unique characteristics and distinctive features.
  • Decentralized. No one controls Bitcoin as its blockchain is globally distributed.
  • Censorship-Resistant. Governments and central banks cannot take control over Bitcoin.
  • Trustless. Nobody has to trust anybody else in order the Bitcoin network to function.
  • Irreversible. Bitcoin transactions are irreversible unlike traditional banking transfers.
  • Anonymous. Bitcoin addresses do not contain any personal information.
  • Divisible. Every Bitcoin is divided into 8 decimal places (0.00000001 BTC).
  • Limited Supply. Bitcoin has a disinflationary economic model and a fixed supply of 21 million.
  • Fast Settlement. Bitcoin transactions are fast, cost-effective, and cross-border.
You can learn more about Bitcoin and its unique characteristics here.
Legal Disclosure: The information contained in this article is the property of Digital Finance LLC and cannot be republished without our prior permission.
Digital Finance is a Washington, DC, financial company that specializes exclusively in the Bitcoin market. We provide easy and compliant exposure to digital assets and help our customers from all over the world to instantly buy Bitcoin and earn up to 6% annually on their Bitcoin holdings.
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submitted by MaximNurov to u/MaximNurov [link] [comments]

Thinking in Satoshi

Thinking in Satoshi
This tweet by @BlockWorksGroup saying, "There are 100,000,000 satoshis in a Bitcoin. Stack them while you can." alongside the reddit post by @SpaceDuckTech saying "there are 2,100,000,000,000,000 units of trade", that is, sats reminded me...
We've got to start thinking in satoshis.
We're already doing it to a degree. Several places are selling things denoted in sats. This is good. It avoids decimal confusion such as 0.00000375 BTC. It's much easier to say, "375 sats."
In part, this is why I've long pushed for sats as the default unit and for the "shi" symbol シ to represent it. See why use シ for sats? and Satoshi Day.
https://preview.redd.it/thf8r2n7ya351.jpg?width=314&format=pjpg&auto=webp&s=5725d33b37dd7f119e8eecc563bf7bbd1a869fd6
2,100,000,000,000,000 is 2.1 quadrillion. That may look like a lot. But hah! Don't think small. One million dollars used to be amazing. Now we talk in numbers like $2.5Billion or $1.3T. Understand, 2.1Q is nothing in terms of sats.
By comparison, consider USD pennies. The U.S. government magically fashions trillions of dollars out of thin air for every "crisis" that comes up, calling it "Quantitative Easing" or "QE." "BRRRRR," says the paper money printer. Since there are 100 pennies in every dollar, that's trillions of dollars multiplied TIMES 100. 2.1Q is nothing in terms of sats.
https://preview.redd.it/dow2mgq8ya351.jpg?width=595&format=pjpg&auto=webp&s=2c8c82857f9031066ee95873805e215db9ee3fab
In the U.S., we hear of QE1, and QE2, and QE3, and QE4, and...
Instead of QE,...
I suggest: 2.1Q
Do not be deceived, 2.1Q is small. One sat has value.
Watch it grow: Satoshi Day
submitted by crrdlx to Bitcoin [link] [comments]

An In-Depth Guide to: How do I Fix my Ledger Nano’s Stuck Ethereum Transaction?!?!?! (It’s Been Stuck for Weeks and NOTHING Traditional has Worked!!!!) As Well as: How Do I Choose My Nonce??? I’ve Tried MetaMask, MEW/MyEtherWallet, and Others, but Nothing is Working Correctly!!! I’m Dying by Stress!

So, if you were like me 1-2 months ago, you’ve probably already gone through 2,or 3, ...or 40 articles and guides that probably say something like:
“YeP, eVeRy EtHeReUm UsEr WiLl EvEnTuAlLy HaVe ThE LoW-gAs ExPeRiEnCe, YoU’rE nOt AlOnE! DoN’t FrEaK OuT tHoUgH; ThErE iS a WaY tO fIx It!”
Chances are, every time you read another useless article, you want to kill the nearest inanimate object, even though it was never alive in the first place. Nonetheless, you’re gonna kill it as much as it can be killed, holding nothing back; or, you’re just plotting to and slowly getting closer to executing the plan (and the object) every time you are insulted once again.
However, if you have the ability to download software (MyCryptoWallet) on a PC, it should be safe to relax now. I think you’ve finally found some good news, because I am 99.99...% sure this will work for the issue that so many people are having at this time, around the end of the month of May, year 2020.
More and more people are likely to be having this issue soon, since Ethereum's gas prices have been insanely high lately as well as having 300% price changes in a matter of minutes; Etherscan’s Gas tracker is nearly uselessly-inaccurate at this time. I've heard that there's a congestion attack; that was said a week ago, and it appears to be ongoing... (I can't think of any other suspect besides Justin Sun to blame it on... it must be incredibly expensive to overload the blockchain for this long... I may be wrong though...)
 
Let’s begin
For myself, I was trying to send an ERC20 token when this dreadful issue attacked. Specifically, the token was either BSOV or GRT; I sent them 1 after the other and the first succeeded, and the second one took over a week.
(They’re both great tokens in my opinion and deserve much more attention than they’ve been getting. BSOV is nearing its 1 year anniversary as I write this, and GRT is still in its 90 day community-development progress test, so of course I'm gonna take this opportunity to "shill" them; they are great tokens with great communities).
I was able to finally fix it, after a week of mental agony (also the txn finally processed 1-2 hours before I found the solution, robbing me of the gratitude of fixing it myself... (╯‵□′)╯︵┻━┻ ...but now I guess I can hopefully save some of you the headaches that I endured... ) I’m providing the ability to do the same, in a step by step guide.
Why did I go through all of this trouble? I'd fault the fact that I have ADHD and autism, which in my case can multiply each other’s intensity and cause me to “hyper-focus” on things, much much more than most with the same qualities, intentionally or not. Adderall is supposed to give me a bit of control over it, but except for in a very-generalized way, it’s still 90% up to chance and my default-capabilities to allow me control over my attention with self-willpower. But also Karma and Moons pls... ʘ‿ʘ
 
  1. In MyCrypto, (I'm using the Windows 10 app, version 1.7.10) you will open to a screen that says "How would you like to access your wallet?". Choose Ledger, of course. (Unless your here for some non-ledger issue? Idk why you would be but ok.)
  2. On the next screen (having your nano already plugged in, unlocked, and opened into the Ethereum app) click "Connect to Ledger Wallet"
  3. A screen overlay should appear, titled: "Select an Address". Here is where it may get confusing for some users. Refer to "AAA" below to know how to find your account. (Geez, sorry lol that was a huge amount of info for a reddit reply; I might've over-elaborated a little bit too much. but hey it's valuable information nonetheless!)
  4. After escaping the "AAA" section, you'll have accessed your account with MyCrypto. Awesome! To find your ERC20 tokens, (slight evil-laughter is heard from an unidentifiable origin somewhere in the back of your mind) go to "AAB".
  5. (You may have decided to find the token(s) on your own, rather than daring to submit to my help again; if so, you may pity those who chose the other path... ~~( ̄▽ ̄)~~) Now, once you've added your token, you should revert your attention to the account's transfer fill-out form!
  6. I'll combine the steps you probably understood on your own, already. Put in the address that your stuck transaction is still trying to send currency to. If an ERC20 token is involved, use the drop-down menu to change "ETH" to the token in trouble. Input your amount into the box labeled... wait for it... "Amount". Click on "+Advanced".
  7. Refer to Etherscan.com for the data you will need. Find the page for your "transaction(txn) hash/address" from the transaction history on the wallet/Ethereum-manager you used to send from. If that is unavailable, put your public address that your txn was sent from into the search tool and go to its info page; you should be able to find the pending txn there. Look to open the "more details" option to find the transaction's "Nonce" number.
  8. Put the nonce in the "Nonce" box on MyCrypto; you will contest the pending txn with a new txn that offers larger gas fees, by using the same nonce. If (but most likely "When") the new transaction is processed first, for being more miner-beneficial, the nonce will then be completed, and the old transaction will be dropped because it requests an invalid, now-outdated nonce. Your account will soon be usable!
  9. Go to the Gas Tracker, and it may or may not provide an informative reading. Choose whatever amount you think is best, but choose wisely; if you're too stingy it may get stuck again, and you'd need to pay another txn's gas to attempt another txn-fix.
  10. At the time I write this, I'd recommend 50-100 gwei; to repeat myself, gas requirements are insane right now. To be safe, make the gas limit a little higher than MCW's automatic calculation, you may need to undo the check-mark for "Automatically Calculate Gas Limit".
  11. Press "Send Transaction"!!!
  12. You will need to validate the action through your nano. It will have you validate three different things if you are moving an ERC20 Token. It's a good idea to verify accuracy, as always.
 
Well, I hope this worked for you! If not, you can let me know in a reply and I'll try to figure it out with you. I like making these in-depth educational posts, so if you appreciate it please let me know; I'll probably make more posts like this in the future!
( Surely this is at least far better than Ledger's "Support" article where they basically just tell you "Yeah, we haven't bothered to make a way to manually select nonces. I guess we might try to make that available for Bitcoin accounts at some point in the future; who knows? lol"... that's not infuriating at all, right?)
 
AAA:
Before I tell you how to find your address, I will first make it clear, within the italicized text, exactly which address you are looking for, if you are not already sure:
You may also skip the text written in italics if your issue does not include an ERC20 token, if you wish.
Ledger Live can confuse some users with its interface. On LL, to manage an ERC20 token, you first must go to your Ethereum account and add the token. When you then click on the added token under "Tokens" below the graph chart for your account's ETH amount over time, the screen will then open a new screen, that looks just the same, except focused on the specific ERC20 token. To confuse users further, there is then an option to "Star account", which then add the ETH icon with the ERC20 token's first letter or symbol overlapping, onto the easy access sidebar, as if it was another account of similar independency to the ETH account it was added to.
This improperly displays the two "accounts" relation to each other.
Your ERC20 holdings (at least for any and all ERC20 that I know of) are "held" in the exact-same address as the Ethereum address it was added to, which also "holds" any Ether you've added to it. You send both Ether (ETH) and any ERC20 Tokens to and from only Ethereum addresses of equivalent capabilities, in both qualities and quantities. In all basic terms and uses, they are the same.
So, to know what the problematic account's address is, find the address of the Ethereum account it was added to in Ledger Live.
Now, to find your address on MyCrypto, the most reliable way to find it, that I am aware of, is this:
Open Ledger Live. Go to the screen of your Ethereum address (again, this is the one that you added your ERC20 token, if applicable. If you're not dealing with an ERC20 token, you may ignore everything I've put in Italics). Click on "Edit account"; this is the icon next to the star that may look like a hex-wrench tool. On the new screen-overlay, you will see "> ADVANCED LOGS". Click on the ">" and it will point down while revealing a drop-down with some data that you may or may not recognize/understand. Likely to be found indented and in the middle-ish area, you will see this line, or something hopefully similar:
"freshAddressPath": "44'/60'/X'/0/0",
The "X" will probably be the only thing that changes, and the actual data will have a number in its place; it will not be a letter. Let's now put that line to use in MyCrypto:
Take the 44'/60'/X'/0/0 , and make sure you DO NOT copy the quotation marks, or that comma at the end either.
You can do this before or after copying and/or pasting, but drop the second "/0" at the end; it was not necessary in my case, I expect that you won't need it either, and will probably just make MyCrypto see it as an invalid input.
Okay, now go back to the "Select an Address" screen-overlay in MyCrypto.
Next to "Addresses", click on the box on the right, and you should be shown a list of options to select from in a drop-down menu.
Scroll all the way down, and you should find the "Custom" option at the very bottom. Select it.
A new box will appear; probably directly to the right of the now-shortened box that now displays the "Custom" option that you just selected. This box will offer an interface for typed input. ...yep... once again, believe it or not, you should click it.
Type " m/ ", no spaces before or after.
Type in or paste the data we retrieved from ledger live.
The box should now hold this:
m/44'/60'/X'/0
Again, X should be a number. In fact, that number is probably equal to the number of Ethereum (not including any ERC20 wannabe) accounts that you've made on Ledger Live before making the one we're working on right now! (1st Eth. Acc. would have: X = 0, 2nd: X = 1, 3rd: X = 2, ...)
Make sure you've included every apostrophe ( ' ), and solidus ( / ); there is NO APOSTROPHE for the "m" at the start and the "/0" at the end!
If you press the enter key or click on the check-mark to the right of where you typed, the appropriate addresses will be generated, and the address you created through Ledger Live should be the first one on the list!
Select your address and press "Unlock", and you are now accessing your account through the MyCrypto app's interface!
 
AAB:
In order to access your ERC20 token, you will need to add them first.
You may have to scroll down, but on the right-side of your unlocked account screen, you'll see a box with "Token Balances" as its header.
Click "Scan for tokens". This may take a short bit of time, and when it's done it may or may not display your ERC20 token. If it worked, you can head on back to the main part.
If you got the result I did, it won't display your token, or, if our result was exactly the same, it won't display any at all. However, you should now have the "Add Custom Token" option available, so see where that takes you.
You should discover four boxes, specified in order (Address/ Decimals / Token_Symbol / Balance). You may only need to fill in the "Address" box, but if you need to fill others, you'll find those with the token's address; here's 2 ways to find it, if you don't already know.
Method I:
Since you've probably already been managing your token with Ledger Live, you can go to the LL screen of your "account" for that token; Right next to the account's icon, and directly above the name, you'll see:
Contract: 0x??????...????????
Yes, go on; click it. You'll find the token's page on Etherscan; this was just a shortcut to the same place that both of the two previously referenced methods lead to. Skip to method... III?
Method II:
Go to Etherscan.com, or a similar Ethereum-blockchain-monitoring website, if you have a different preference. Search for the name of your token, and you should be able to see it as a search result. Activate your search manually of by selecting search option. Continue on with Method III.
Method III (Iⅈ what makes you think there was a third method? I said 2!):
At this point, you should find the "contract address" somewhere on the screen. This is the identity of the creature that breathes life into the token, allowing it to exist within the world of Ethereum. Steal it, and tell MyCrypto that you've left some of "your" tokens in the address of your ledger's Ethereum account. MyCrypto will trust and believe you without any concern or doubt, just by putting "your" contract address in the box for "Address"; it's almost too easy!
Well whaddya know, this one isn't actually too long! Don't tell anyone who may have taken a little longer whilst finding out how to do it themselves, though. There's value in trying to do something on your own, at least at first, so I'll let them think they made the right choice (¬‿¬). But take this star for humbling yourself enough to seek further help when you need it, since that is a very important life skill as well!
(o゜▽゜)o☆
Now, back to the useful stuff at the top...
 
EDIT: A comment below made me realize that this info should be added too. Here is my reply to the comment saying I could just use MetaMask. I said in the title that this guide is for questions where MEW and MetaMask aren’t working, but I guess it’s easy to miss. I used my u/caddark account to respond:
(Using this account because u/caddarkcrypto doesn’t meet the karma/age standards to comment; the post had to be manually approved.)
I guess I didn’t make it entirely clear; sorry:
The target audience for this guide is anyone with a stuck Ethereum transaction that was initiated through Ledger Live AND are experiencing the same difficulties I had encountered while trying to fix this issue for myself.
This wasn’t any regular stuck Ethereum transaction. Apparently before, there was an issue that made a Ledger Nano nearly impossible to connect to MetaMask (which is also Brave Browser’s integrated “crypto wallet” for the desktop version) and/or MEW (also perhaps any other browser wallets made for chrome and/or brave) that I heard was supposed to be fixed in a recent update. It might’ve been mostly patched, idk, but during my experience, (in which I was using the latest version of Ledger Live that is available right now,) that issue still remained.
The really weird part was that it successfully connected to the browser wallets again after I fixed the stuck transaction. At first I thought that somehow the txn was what was bugging the connection. However, later, during no txn issues, I was again unable to connect.
Seeing the same connection error again later, I opened up the MCW app I downloaded the day before, and was going to just use that. While in the process of operating MCW, I suddenly had another idea to try for the browser wallet so I went back to that just to quickly test it.
The browser wallet worked perfectly...
I don’t know how, but I think that somehow, something in MCW’s software, makes the browser wallets work. They don’t work for me without having MCW opened in the background first.
EDIT 2: Markdown decided to stop working after I did the first edit... I might fix it tomorrow... how did that happen though??? What did I do?
EDIT 3: nvm, I'm just fixing it now; I won't get much sleep tonight I guess.
submitted by CaddarkCrypto to CryptoCurrency [link] [comments]

What has the coronavirus taught us?

The cryptocurrency industry, like everyone else, suffers from global world problems! Whether it be a war, a crisis or a pandemic, any business likes to be calm, but cannot change and grow without a storm. Some people understand this and create new opportunities, while others see only problems.
The pandemic began in China, one of the main centers of the entire cryptocurrency market. Recall that Chinese companies are leading in the production of mining equipment and Bitcoin mining. The world's two largest companies, Bitmain and Canaan, are located in the Celestial Empire. In total, according to various estimates, over half of the computing power used to obtain the first cryptocurrency can operate in this country.
Bitcoin has historically acted as a defensive asset - for example, when the national currencies of some countries (Iran, Turkey and Venezuela) sharply lost their advantages in terms of availability and reliability last year, we saw a massive jump in the price of Bitcoin.
So against the backdrop of the coronavirus, investors and national central banks for some time tried to maintain the value of their assets, primarily by buying gold and bitcoins. Nevertheless, as practice has shown more than once, the cryptocurrency market today is still subject to the influence of bad news - albeit not to the same extent as the stock market. The sharp drop in March has once again confirmed the fact that both bitcoin and altcoins are falling along with the failure of the exchange rate, as in all previous historical moments of the crisis. So today, after a short take-off, we observe that the shares of crypto companies have already started with significant falls for many days, and during the day prices continue to be near their record lows.
But as it turned out, any crisis always has two sides of the coin. The fall of traditional markets and the crisis phenomena nevertheless contribute to the fact that more attention is paid to the possibilities of cryptocurrencies, and new capital is flowing into the sector. The risks of using cash during the coronavirus pandemic could increase demand for the use of central bank digital currencies. Experts believe that a realistic assessment of the risks of dealing with fiat can open the way to abandoning cash. At the same time, the researchers note that the emergency transition to payment in digital format does not seem to be effective. The reason is that not all users will be able to quickly change their habits. Elderly people can be at risk. In addition, people are starting to pay more and more attention to new directions and new cryptocurrencies. Bitcoin is the flagship of the industry, but it is far from the only cryptocurrency. Now, most experts say that a successful start usually does not start with Bitcoin. The reason is the high entry barriers and slow payback. Especially now, after the so-called halving took place this spring.
In other words, cryptocurrencies are going through the same process as other industries, namely, everything is moving towards consolidation. Small players are being pushed out by larger ones. It would be quite adequate to decide to start not with the largest currency, but to evaluate the entire market.
SpaceBot is well aware of these trends and proposes to make the transition to PoS mining to a new level.
SPACEBOT provides an opportunity to get an increase in the productivity of mining cryptocurrency per month for mining BIP, PRIZM and other cryptocurrencies due to a total larger balance in the blockchain network using the "Proof-of-Stake" system.
POS technology is becoming more and more popular today. After all, for mining the PRIZM cryptocurrency, you do not need expensive mining equipment, you only need a phone or a computer with the Internet. Now imagine that a wallet, an exchange, the issuance of their tokens, a smart contract, security, speed, and most importantly simplicity - all this is in one Decimal blockchain.
If you want to know more, go to the SPACEBOT website, and also follow our news on the forum, good luck friends.
submitted by CryptoSpace_Bot to u/CryptoSpace_Bot [link] [comments]

ℳonero possesses every characteristic of Sound Money: durability, portability, divisibility, uniformity, limited supply, and acceptability.

There have been many forms of money in history, but some forms have worked better than others because they have characteristics that make them more useful. The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability [1]. Let's compare two examples of possible forms of money:
Let's run down our list of characteristics to see how they stack up.
  1. Durability A cow is fairly durable, but a long trip to the market runs the risk of sickness or death for the cow and can severely reduce its value. Units of ℳonero cannot deteriorate or become broken in any way. It exists digitally within a decentralized peer-to-peer network which has no central point of failure.
  2. Portability. While the cow is difficult to transport to the store, ℳonero can be easily be transferred wherever an internet connection is available.
  3. Divisibility. A unit of ℳonero is practically infinitely divisible, up to 12 decimal places. A cow, on the other hand, is not very divisible.
  4. Uniformity. Cows come in many sizes and shapes and each has a different value; cows are not a very uniform form of money. Because accounts and transactions are encrypted, every unit of ℳonero is essentially freshly minted currency and thus treated equally.
  5. Limited supply. In order to maintain its value, money must have a limited supply. While the supply of cows is fairly limited, if they were used as money, you can bet ranchers would do their best to increase the supply of cows, which would decrease their value. The supply, and therefore the value, of ℳonero is established by code agreed upon by the network participants so that the amount of money created is known and controlled.
  6. Acceptability. Even though cows have intrinsic value, some people may not accept cattle as money. In contrast, as ℳonero adoption grows, people will be more than willing to accept your ℳonero. ℳonero can also be exchanged on numerous currency exchanges for any major currency in the world.
Well, it seems "udderly" clear at this point that ℳonero is a much better form of money than cattle.
Apply these same properties to other currencies like gold, USD, or Bitcoin and see how they stand up against ℳonero. Is gold portable? Is there a limited supply of US Dollars? Is every unit of bitcoin uniform? You will come to realize why ℳonero is perfectly sound money, the likes of which has never been seen before.
[1] Functions of Money, The Federal Reserve Bank; The Economic Lowdon Podcast (2020)
submitted by HorrorObjective5 to Monero [link] [comments]

If you missed the AMA

AMA AT DETECTIVE ID (25/06/2020)
Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken.
Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established?
The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control.
Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020?
By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges.
Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers?
Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community
Community Questions (Twitter):
Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale?
Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions
Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different?
Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side
Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing?
As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here.
Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera?
I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle).
Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed?
The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :)
Nuked Phase (3rd Part)
Q) What is your VISION and Mission?
Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset.
Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion?
We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊)
Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?.
You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens
Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them?
We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on.
Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.??
When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing
Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction?
We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem
Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market?
We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18
Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges?
Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price.
Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents?
We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract).
Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects?
Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk)
Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people.
Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology?
We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming
Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations.
Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term?
The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above
Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it?
We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token.
Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges?
STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible??
Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community
Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ?
Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention.
Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space?
We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about.
Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term?
The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people!
Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space?
We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this?
By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would
Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time?
I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
submitted by stateratoken to StateraToken [link] [comments]

Adult entertainment trough Devil´s Dragon Token

Adult entertainment trough Devil´s Dragon Token
Hello everyone, In this post I would like to talk about some of the DDGN Token features and company achievements.
https://preview.redd.it/of2xxl7gxtg51.png?width=640&format=png&auto=webp&s=b2ed2316a60511260102feb5f1a77750ff0c2c58
The company aims to revolutionize adult entertainment trough blockchain innovations presenting the opportunity to the user to be an active participant in this field using the Ecosystem. DEVIL´S DRAGON TOKEN is fully decentralized autonomous and encrypted. It offers the option to share, publish, and earn through selling, trading, exchanging, and utilizing the features of its ecosystem. A unique multi-use cryptocurrency with many active sites bringing new business models to life and disrupting the high set price of contemporary adult entertainment. DEVIL´S DRAGON TOKEN is a Ethereum based token that will be able to be used with any other Blockchain project or technology that is already operating.
DDGN is used on active sites to access related and wanted content. The full list can be found on the website by clicking on “Sites” or scrolling down. https://www.devilsdragon.com
TOKENOMICS. (ICO Information / Token Economy) Token name: DRAGON DEVIL Token Symbol: DDGN - Supply Token: 180 000 000 NOT MINTABLE Decimal: 18 - Token type: ERC20 CURRENT STATUS: Under Crowdsale with 5% PRE-SALE Token value 2000 DDGN = 1 ETH for PRIVATE - ONLY PRESALE In ITO sale the rate will be 1000 DDGN = 1 ETH START PRESALE: 2020-08-15 00:01 END: 2020-08-31 23:59
!Please note that only Ethereum is accepted. This will ensure transparency and prevent any fraudulent activities that may impact the value of the coins negatively!
Token Allocation: • Presale (PRIVATE SALE) 5% (All unsold tokens will be burned) • Crowdsale 55% (All unsold tokens will be burned) • Team & Partners 9% (Only used for new partnerships and strengthen the Team) • Reserved 6% (For Exchange and Legal Purposes) • Ecosystem 18% (Only used on our platforms like us write in our White Paper) • Development Team 2% (Used only for development and purposes none of these tokens will be sold) • Founder 4% (Used for administrative, regulatory and internal ecosystem needs only) • Ext Developer 1% (Non-Team Developers to be used for Testing and other Development Purposes on all Ecosystems and their features).
At this point DDGN is already listed on MyCryptoCheckout.
https://preview.redd.it/zgif2u4jxtg51.png?width=640&format=png&auto=webp&s=5ac7e157e30e1b15b5a7201370d3437deced898c
The ways to earn will be further possible by rewards and revenue sharing, live broadcasts, moderating content for the approval or disapproval of forum posts, mining for content, and arranging unused hard disk space. These are set just at the start point. The potential of the new features immense.
Presented Roadmap looks great: • Early 2018. KISSES TECH Established as a Czech Company (February) • Between the beginning of 2018 and the end of 2019. Fixed Adult Entertainment Coin + Many other projects related to Adult Entertainment and Blockchain to evolve and gather together: DDGN • Early 2020 Launch of the DDGN Project • Mid 2020 Launch of ETHpimp Q3 2020 ITO DDGN • Late 2020 Alpha version of the DDGN Dedicated Video Platform with a Decentralized Prize Service for Display and Manufacturing works with DDGN. On this platform the goal is to use a few supporting protocols such as ERC721 to make the videos like unique fine art creations. Luring a new business model which is fairer and more transparent. More Active Sites and More Partners for Ecosystems Alpha Version and Initial Registration First Delivery of Crowd Content Funding Network with Prizes & Decentralized Direct Revenue Sharing on the Stock exchange list
• Early 2021 DDGN Platform Beta Version Dedicated Videos that Live Immediately with Real Rewards and Share Earnings for Views & Creations CDCFN.COM Fully Active with the Distribution of Live Prizes and Adding New Sites to the Ecosystem makes DDGN more rare, enjoyable, and valuable to everyone involved.
Also surfing the blog (https://www.devilsdragon.com/blog) I found very interesting facts about CDCFN (Content Delivery Crowd Funding Network): www.cdcfn.com
A forum like website on which people share their original content and earn rewards in DDGN (Devil´s Dragon) Earned DDGN, as mentioned before will be available for exchanging to Bitcoin, Ethereum or other currency. The platform has a members shop, too, where members can earn and spend their earned tokens (DDGN) they gained from the site. Members Shop is integrated to work along side loads of other applications & plugins. Below is presented DDGN Tokens Earning System
  1. Forums - will allow member to earn tokens for starting topics, replying to other topics or to their own one.
  2. Downloads – Earning by uploading files on the platform, reviewing, commenting. Also receiving tokens for each download of their uploaded file.
  3. Calendar – Earning by submitting events, reviewing and commenting on the events.
  4. Gallery - Allowing members to earn for uploading images, reviewing and commenting on images.
  5. Commerce – Earning for a review on a product
  6. Reactions - Allowing members to earn DDGN Tokens for receiving reactions from their content.
  7. Clubs - Awarding users for joining a club and creating topics, replying and uploading files in clubs.
  8. Media Uploader - Awarding DDGN Tokens to users for uploading documents, images, audio and video files.
  9. Bonus DDGN Tokens – Awarding users on a daily, weekly and monthly basis. The user will have to log in at least on time in that period.
  10. Award DDGN Tokens - Awarding DDGN to your selected members or user groups via the ACP. On the user profile a section will be possible to add showing the amount of DDGN and a link to donate. The platform will have integrated Warning System which penalizes members if they receive a warning by removing DDGN tokens and setting different amounts of DDGN for different warn reasons. Members Shop Items – allowing members to spend their tokens Each item can be created unlimited times and admins can select different prices and permissions Creating categories to place the items in Setting moderator permissions to allow certain members to buy items for free All items use their own code Each item can have its own permission settings to select what usergroups can view it, buy it or send it Members can sell back their unwanted items at a cost of a certain % of the items price admins will set in the ACP After a user stores an item it will store the rewards for that purchase, so say they store multiple items, then at a later time admins change the rewards for that item in the ACP, they will still receive the rewards set when they purchased the item The list of default items: • Opening a random post count mystery box • Opening a random reputation DDGN Tokens mystery box • Changing username • Changing member title • Adding or editing signature • Uploading an avatar • Opening a mystery DDGN Tokens box • Opening a mystery items box • Resetting users´ warning DDGN Tokens • Allowing members to go browse anonymous until their session ends • Viewing a password from a password protected forum • Playing Rock, Paper, Scissors, Lizard, Spock • Allowing users to pin topics for a selected amount of days • Allowing members to feature files for a selected amount of days • Upgrading usergroup for x amount of days, months or years • Gambling to win a random trophy from Trophy’s & Medals • Buying a trophy from Trophy’s & Medals • Buying a medal from Trophy’s & Medals • Guessing the number • Embedding a video to profile • Uploading an image to use as a background on profile • Sending a personal sticky note • Adding / Editing social info • Custom Codes / Vouchers / Coupons • Creating custom codes for members to purchase including game codes / voucher codes and so on • Once a user redeems this item they will instantly receive a PM with the code attached
List of custom items: • Each Custom Item has to be manually awarded to the members, it could be for a coupon code, it could be anything • Choosing to receive a notification or email saying x member brought x custom item and admins need to award it • Showing a table in the ACP with all custom purchases users have brought showing if the item has been awarded or not • Adding a block to the ACP dashboard with the total amount of items admins need to award manually
Statistics Pages : • Shows a statistics page with a graph of the global DDGN Tokens gained on platform per day / week / month • Shows another statistics page with a graph of the amount of shop items purchased globally and the global DDGN Tokens spent per day / week / month • Shows a 3rd statistics page with a graph of the global DDGN Tokens won using items what you gamble your DDGN Tokens with
Members Bank: • Allowing members to store their DDGN Tokens in a bank • Charging members to deposit their DDGN Tokens • Awarding interest to members each month on their banked DDGN Tokens • Members can view all their transactions in a nice and tidy pop up table • Showing a table in the ACP with all the members who have created a bank account • Showing a 3D pie chart in the ACP with the DDGN Tokens per member group • Showing a 3D pie chart in the ACP with the current interest to pay per usergroup • Showing a graph of the banks transactions from your selected time periods
ACP: • Showing a table listing all Normal items purchased with all the information of the item purchase • Showing a table listing all custom items purchased with all the information of the item purchase • Showing a table listing all custom code items purchased with all the information of the purchase • Showing a table listing all the membergroup upgrade items purchased with all the information of the upgrade, expire date
• Choosing what user groups can gain DDGN Tokens with-in the forums / downloads / reaction settings • Generating unique purchases • Showing the shop items in a nice and clean node table giving you the ability to drag and drop them to different categories and sort them in your preferred positions • Selecting the amount of items to show per page in the shop and items page • Choosing the select to view the shop page / items page / rewards & logs page from either a table view or a nice new grid view • If admins allow users to send items to others admins can select a % of the value of the item to charge the users to send that item • Picking to show either a category in the sidebar of show the categories in a filter button on the table itself • Adding a block to the ACP dashboard showing the amount of custom items admins need to award to the users
With that said, I would like to hear your opinion about the project and the features that the team provides for us!
All this information and much more can be found on the below links.
Website: https://www.devilsdragon.com/
White paper: https://www.devilsdragon.com/whitepaper.pdf
Blog: https://www.devilsdragon.com/blog/
ANN: https://bitcointalk.org/index.php?topic=5260322
Facebook: https://www.facebook.com/devilsdragonofficial
Twitter: https://twitter.com/dragon_devils
Discord: https://discord.com/invite/xCwyntG
Reddit: https://www.reddit.com/useDevilsDragon
Telegram: https://t.me/devilsdragon_official
E-mail: [email protected]
Company behind of DDGN Token and development of the platform is KISSES TECHNOLOGY (Group) s.r.o
About the author: Proof of authentication link - https://bitcointalk.org/index.php?topic=5260492.msg54989967#msg54989967 Bitcointalk Username - ijeb Bitcointalk URL - https://bitcointalk.org/index.php?action=profile;u=1668500
submitted by ijeblowrider to u/ijeblowrider [link] [comments]

The Tangle badly needs a Stablecoin

The IOTA/Tangle community seems to be the least focused on tokenization. Here's why that's wrong:
IOTA may be feeless, but it's not free to use. Users are paying in:
  1. IOTA Volatility (regularly >1% daily)
  2. Exchange fees - moving in/out of IOTA to avoid volatility (0.25 - 1%)
Transaction fees, volatility or exchange fees. Value is lost, it doesn't matter how.
"but IOTA will stabilize as it grows"
Yes it will, but too slowly for it to matter.
Bitcoin isn't stable now at $100 billion, nor was it stable at $300 billion. IOTA won't be either. (IOTA would grow 250-750x in value to reach those market caps. Of course there will be enormous volatility on the way up)
Maybe they will be stable enough to use as a medium of exchange (MoE) if they ever reach $trillions.
What the Tangle needs most is a stablecoin. Picture this combination:
Ethereum DAI is supposed to be divisible to 18 decimal places - but gas fees stop you at 2 ($0.01)
Tangle DAI (TAI) could be truly divisible, with each unit created from 1i:
$1 to $0.01 = 100i ($1 million = 100Mi)
$1 to $0.0001 = 10Ki ($1 million = 10Gi)
etc
This allows for stable micropayments, 100 - 10,000x smaller than what is currently possible.
Important points:
This has a couple of effects:
  1. Short/medium term, it removes most of the need for IOTA as an MoE.
  2. IOTA supply will need to be carefully considered/eventually increased. (At $0.10Mi - 1i costs $0.0000001. At $100Mi - 1i costs $0.0001)
  3. Long term, if IOTA grows from billions to trillions, it could become THE medium of exchange.
Thoughts?
submitted by da-future-is-bright to IOTAmarkets [link] [comments]

The little engine…. that could change the world.

The more I research, earn, spend and learn about Kin, the more I am amazed at the originality and groundbreaking structure of this crypto. Kin’s story reminds me of the new business model built with dogged tenacity by Jeff Bezos... Amazon. The struggles in the early years masked Amazon’s true vision and value, it lost money for years, just as the struggles, lack of exchanges and SEC challenges currently mask the true potential, nature, and value of Kin. Kin is not just another crypto, it is a little hybrid beast that has many advantages, large and small, over its competitors. Kin has all the standard features of crypto, but adding the KRE is like putting a supercharger, a turbo, on your car engine. The KRE internally uses Kin’s own growth… as fuel to grow even more. Kin does not need to be mined like Bitcoin by rows and rows of electricity sucking computers solving complex problems. New Kin enters circulation via the KRE’s incentives to grow…it is all about consumer use and growth. IMHO Kin is light years ahead of other cryptos in its focus on the consumer. The ten trillion supply of Kin scares some people away, but those same people will inconveniently try and use the 8 decimal places of Bitcoin to get to one Satoshi. Even in this simple user-friendliness, Kin is ahead of the game. Kin operates autonomously over 11 nodes, has little to no fees and fast confirmation speeds. My recent purchases with Bitcoin took nearly 10 minutes to clear. The non-profit Kin Foundation provides oversight from Ontario, Canada, and undistributed Kin is stored in an institutional-grade treasury. The unique design and focus of this nascent little crypto, could and should be an amazing homerun. Building a better mousetrap, creating an entirely new business model, as Jeff Bezos and Ted Livingston have done, is the type of exciting achievement that drives us into the future. Click on the link to watch a Kin commercial. https://www.youtube.com/watch?v=CbKQdM0Esv8&feature=share
submitted by Wonshot2662 to KinFoundation [link] [comments]

Inverse VS Vanilla Products Explained

What is Plain Vanilla?
Did you say Plain Vanilla Yogurt? In financial terms, the answer would be a NO. However, as it comes from the name, plain vanilla is the most basic version of a financial instrument, usually options, bonds, futures and swaps. It is the opposite of an exotic instrument, which alters the components of a traditional financial instrument, resulting in a more complex security.
In the context of perpetual contracts, plain vanilla contract is a linear derivative product in which the payoff is a linear function. For example, the price-movement in the underlying asset of the perpetual contract translates directly into a specific dollar value per contract. Thus, in the case of plain vanilla BTC/USDT contracts trading BTC as the underlying asset, the margin and profit & loss will be settled in USDT.
What is an Inverse Contract?
Inverse is one of an exotic financial instrument that is opposite to plain vanilla. The key difference is that all the profit and loss are settled with the underlying asset or base currency. Therefore in the case of BTC/USDT contracts are settled in BTC and the number of contracts that can be placed depends on the current bitcoin price. Inverse contracts are used to ease the trading process because it does not require entry of decimal places (eg 0.00000123 BTC), and it is possible to purchase one contract and trade at as low as 1 USDT. This allows traders to intuitively understand the market price without having to calculate the index unlike traditional futures contracts.
Below is the calculation of P&L of both Vanilla and Inverse contracts.
Plain Vanilla
(Exit Price - Entry Price) x Contract Quantity = (0.00006-0.00005) x 10,000 = 0.10 BTC
Inverse
(1/Entry Price - 1/Exit Price) x Contract Quantity =(1/5,000 - 1/6,000) x 10,000 = 0.33 BTC
submitted by MyCoinStory to Bybit [link] [comments]

aelf’s Blockchain-based Digital Asset Identification Standard approved by IEEE

aelf’s Blockchain-based Digital Asset Identification Standard approved by IEEE
Author: Ma Haobo

https://preview.redd.it/m1jtaghbqt651.png?width=1280&format=png&auto=webp&s=4dd933b2b9b79a9de0c6eaeaac42a66ec6868c7e
Recently, the Standard for Blockchain-based Digital Asset Identification, submitted by aelf, was approved by the IEEE SA Standards Board New Standards Committee (NesCom). The standard specifies methods and practices of crypto asset identification. The standard also addresses attributes of the blockchain system digit asset identification including but not limited to data structure, data format, and related asset management operation specifications.
The purpose of this standard is to improve digital asset management with an asset identification specification in blockchain systems. The standard aims to provide a data format and structure references for organizations designing digital asset identification solutions — providing digital asset services and setting up operational specifications for organizations.
Current Situation and Problems of Assets Management on the chain.
In the blockchain system, the unspecified participants usually work together under set contract rules to complete a social production and management activity on the blockchain. Some of these activities are closely related to assets, such as payments, loans, asset transactions, games and entertainment, etc. .
There are various ways to define assets within a blockchain as well as when compared to other blockchains. For example, in Ethereum, ETH is an asset that is directly constrained by the underlying code of the block chain, while a Fungible token is defined by the contract interface ERC20, and a Non-Fungible token is defined by ERC721. There are also emerging asset agreements such as ERC998 and ERC1155.
Most users utilize a blockchain through specific terminals, which usually includes a blockchain browser, wallet, decentralized applications (DAPP), etc. By defining standards through contract interfaces, these users’ terminals can handle various assets in a standardized way. These DApps usually need to adapt to different contract interfaces, but also deal with non-contract defined assets like ETH. When these terminals need to support different blockchains, they require extra work to adapt.
The number of interfaces that user terminals need to deal with is increasing with the emergence of more blockchain systems. But most functions are equivalent in the assets definition. At the same time, there is a growing need to move assets from one chain to another chain. For example, there are some BTC value anchored assets in Ethereum, USDT is issued on bitcoin network and Ethereum network at the same time, and the assets on the aelf main-chain and side-chain can be transferred directly. But there is not a unified standard to solve the cross-chain data communication problem in the whole blockchain industry.
What a common asset standard might do to an industry
The birth of wETH is a great place to talk about “industry change” . wETH, which is Wrapped Ether, is an ETH asset Wrapped under ERC20. As mentioned above, ETH is a non-contractual asset, but why redefine it under ERC20? Some decentralised exchanges in Ethereum, which typically deal with ERC20 assets. But ETH, as one of the key assets in Ethereum, also needed to be backed by these decentralised exchanges, so wETH was born. Users can get the same amount wETH after locking ETH in the contract. Accordingly, users will be able to get the same amount ETH by destroying the wETH in the contract, so users can exchange any ERC20 Token including the ETH in these decentralized exchanges. This seems to be a good solution. However the transformation operation on the chain may bring permanent system complexity.
Users’ needs will always be different. After solving the problems of Eth and wETH, people hope to adapt the transaction to BTC. Due to the isomeric chain, there is no good atomic transfer scheme so far. Most BTC assets anchored in Ethereum are anchored by mortgages. The risk of the centralized BTC mortgage scheme lies in the safe custody of the mortgaged BTC. Systematic risks associated with the Ethereum on-chain mortgaged asset revolves around price fluctuations. Moreover, each scheme is neither simple nor elegant. When simple requirements face complex solutions, we need a simple solution.
Challenges may also arise when conducting Defi activities on a single chain as Ethereum transaction volume increases. When the trading volume increased in March 2020, the Maker’s data source could not keep up with outside real prices, and some mortgage orders went awry. When a single chain is not big enough to handle a high number of data transactions, it may be better to process these assets on higher performance cross chains, such as EOS. But we can’t deal with the ERC20 assets on EOS. Of course, aelf can not currently deal with ERC20 assets.
Current blockchain systems, on-chain assets, and especially fungible tokens, have special commonalities. Some cryptocurrency wallets have achieved compatibility with multiple blockchain systems. A unified blockchain asset standard is not specific to a certain kind of blockchain system and can drastically reduce the systemic costs of the entire industry.

IEEE Digital Asset Standard Proposals Overview

The IEEE digital asset proposal, submitted by aelf, defines the digital asset standard in terms of data structure, data format specification and management operation specifications related to asset identification.
Combined with the digital assets demand of blockchain systems, such as public and alliance chains, a flexible asset standard with strong versatility and multiple options is necessary.
In this standard, some assets’ properties will be defined, such as name, supply, decimal places, etc. Some basic operations are also defined, such as distribution, destruction, migration, and so on.
At the same time, we will define the standard form of cross-chain transfers on the premise that cross-chain data can be synchronized normally. In this regard, the aelf team members are continuing to invest in research and development. The aelf team also launched the Cross-Chain Transfer Protocol (CCTP), and held cross-chain transfer testing and a hacker bounty between the Ethereum and aelf testnet.
Expectations and perspectives on digital asset standards
If such a standard can be implemented, users can use a client to process various digital assets without difference. For example, if a user got a rare item in the EOS blockchain game, he can also sell the item to get USDT in an NFT exchange on Ethereum, and then sell the USDT to buy the BTC on the unique side-chain of aelf’s decentralized exchange (BTC/USDT), where only transactions for the conversion of BTC to USDT are processed.
Based on existing mainstream blockchain systems, it is difficult to achieve pre-compatibility. The first decade of blockchain is a decade of high-speed development in which new ideas and methods are constantly emerging. Therefore, it may be difficult to implement all the functions defined in the digital assets standard when the existing blockchain is not compatible with the standard protocols.
It is hoped that the digital assets standard can be easily implemented by each blockchain system. If a function is unique to a specific blockchain system, it should not be included in the standard.
After establishing this standard, it is expected to receive increasing support from multiple chains. When blockchain technology is a common feature utilized in mainstream applications, it can speed up assets’ liquidity.
submitted by Floris-Jan to aelfofficial [link] [comments]

Act 22 new annual compliance raised from $300 to $5000!

This was warned about when they raised the annual compliance fee from $50 to $300 in 2015, but Society leaders, as it now turns out, made a grave mistake in dismissing the concerns from the wiser posters. Objectors at the time correctly pointed out that if the $300 fee wasn't stopped, there would be nothing to stop the Puerto Rican government from ratcheting up the annual compliance fee further in the future. This is an indirect, underhanded, backdoor tax on decree holders that shows the Puerto Rican government cannot be trusted. This implies there are 2380 Act 22 Decree Holders. $11,900,000/$5000=2380.
Just as the Puerto Rico government tried to circumvent getting the required approval for contracts over $10,000,000, with the Covid-19 testing kits, by instead claiming they were "purchase orders" instead of "contracts," Puerto Rico government is now sticking Act 22 Individual Investors with another $5000 tax, by raising the annual compliance "fee" from $300 to $5000, an increase of over 1500%!!! These ever higher ratcheting fees have made these programs only for the "super rich." There is no rational basis for the fee to increase by $4700 in one year.
So now its $5000 to apply for Act 22, $5000 to accept Act 22, then $15,000 more annually from the $10,000 annual charitable donation and $5000 more for annual filing? That's $25,000 total in the first year, and $15,000 or more every year, something that only the "super rich" can afford. I thought The Society was going to use its unified voice to protect Act 22 people, not only represent the "super rich." How are the benefits being preserved, when instead the decree holders that are not "super rich" are being squeezed to death with soaring taxes, hidden as soaring annual compliance filing fees?
What is to stop Puerto Rico politicians from raising the annual compliance filing fee to $50,000? As the fee is not commensurate with the costs to process the annual reports, it shows this is nothing but an underhanded illegal tax, disguised as a fee, mislabeled as a fee. Why should the annual filing compliance fee go up 100x in 5 years? That's egregiously unreasonable. Similar government arrogance is what killed the tax incentive program in the US Virgin Islands.

Lawsuit? Who can create a Puerto Rico charitable foundation with its mission to keep the Puerto Rican government honest? For those who are required to do the $5000+$5000 forced annual donations, a new charitable foundation should be established to promote honest government in Puerto Rico, to accept these donations.

I will be telling all my friends to not move to Puerto Rico because the government can't be trusted to honor the decrees without sneaking in underhanded, indirect taxes, that are mischaracterized as annual filing fees.

First article is somewhat inaccurate/misleading, since it applies to ALL Act 22 decree holders, not just those involved in cryptocurrency. It will harm everyone involved in the program, and deter many others from coming. Only the "super rich" will keep coming to Puerto Rico or stay in Puerto Rico.
https://decrypt.co/26245/puerto-rico-new-law-crypto-tax-more-expensive
New law threatens Puerto Rico’s status as crypto tax haven

Puerto Rico Governor Wanda Vazquez has signed a new law into effect that increases the yearly fee associated with tax incentives for crypto entrepreneurs.

By Jaime Chacon3 min read
Apr 21, 2020

Crypto investors and entrepreneurs looking to take advantage of Puerto Rico’s favorable tax incentives will now find it more costly to do so.
Late last week, Governor Wanda Vazquez signed Law 40-2020 into effect, which made a key change to the rules that govern tax incentives for new residents. Previously, investors who moved to the island and applied for these incentives were required to pay a yearly fee of $300 for the privilege. The new law increases that yearly fee to $5,000.
The Puerto Rican government expects to generate $11.9 million in fees with this rate increase in an update to what was formerly known as law 22-2012. The new legislation also provides a tax contribution reduction of 3% for those who earn $100,000 or less.
"The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits,” Giovanni Méndez, managing partner at Puerto Rican tax consulting firm Geo Tax, told Decrypt.
“The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island," he said. Indeed, the fees and other requirements apply to anyone who has lived in Puerto Rico for at least six months and applies for tax relief for his or her business.

Building a blockchain island in Puerto Rico

SAN JUAN—Is Puerto Rico any closer to becoming the “crypto haven” that blockchain entrepreneurs and investors once promised? The attendees of Thursday’s fourth-annual CoinAgenda Caribbean conf...
NewsBusinessJaime ChaconMar 3, 2020
According to Geo Tax, the total cost of moving to the island to save on taxes includes a $750 filing fee, $5,000 special fund fee once approved, $10,000 yearly donation (split in two), plus the new $5,000 yearly fee.
"Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value,” said Méndez. “The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation,” he said.
It’s these tax incentives that have brought entrepreneurs from across various industries, including cryptocurrency, to the US commonwealth. Co-founder of EOS Alliance Block.one Brock Pierce and gold proponent (and Bitcoin skeptic) Peter Shiff, for example, make Puerto Rico their home for at least half the year.
Just last month, during the CoinAgenda Caribbean conference in San Juan, Pierce reiterated his optimism that Puerto Rico can still become the “blockchain island”—a beacon for the industry—that was once promised.
NEXT...
https://coingeek.com/puerto-rico-changes-gears-on-digital-currency-haven-status
Business 23 April 2020
Noah Bradley 📷
Puerto Rico was once seen as a perfect location for digital currency startups. It had considerable tax incentives in place that benefited investors and entrepreneurs, which led to an increase in the development of business solutions in the U.S.-controlled territory. However, either by design or due to economic shortcomings caused by the coronavirus and other disasters, Puerto Rico needs to find new sources of revenue. As a result, a new law has been approved that will change the structure of the digital currency tax incentive programs in place.
Puerto Rico Governor Wanda Vazquez approved a new law last week, Law 40-2020, that alters the way tax incentives are provided to new residents. Spanish media outlet El Nuevo Día (The New Day) points out that the previous annual fee of $300 for those who moved to the island and applied for the incentive has been substantially increased. It has now jumped up to $5,000, and is expected to generate an additional $11.9 million for the government. In addition, there is also a new tax contribution reduction equal to 3% for anyone who earns $100,000 or less.
In correspondence with Decrypt, Puerto Rican tax consultant Giovanni Méndez, representing tax consulting firm Geo Tax, says, “The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits. The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island.”
Now, for anyone wishing to move to the island, the upfront expenses are much higher, somewhat negating the existing tax incentives. There is a $750 filing fee, a $5,000 “special fund fee” if the filing application is approved, a $10,000 obligatory annual contribution (with the possibility of having the fee made in two payments) and the new $5,000 fee.
The structure will be detrimental to entities in the blockchain and digital currency spaces, and Méndez adds, “Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value. The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation.”
The changes could force many who have decided to call the territory home to pack up and look for better, cheaper alternatives. Puerto Rico has been slammed by a number of major storms in recent years that have almost decimated its infrastructure, and the U.S. has been indifferent in providing a considerable amount of relief. The weakened foundation and the new fees might be enough to thwart Puerto Rico’s plans of being a major digital currency hub.
NEXT...Key part translated from Spanish...
https://www.elnuevodia.com/noticias/locales/nota/wandavazquezfirmaenmiendasalareformacontributiva-2562250
imposes a contribution of $5,000, previously $300 - for the delivery of each annual report presented by the citizens benefiting from the benefits. of the Law to Encourage the Transfer of Individual Investors to Puerto Rico, previously known as Law 22-2012.
That last increase will generate $ 11.9 million new, according to Soto told the press.
submitted by wdyg to act2022 [link] [comments]

I got tired of using a spreadsheet for calculating DCA, so i made an android app

I'm a hodler, and i made this for my own personal use, but half way through i realized it could be useful to others that do DCA, and with just a little more work i could make it store worthy, so i went ahead and did it. It's free, with no limits on time or the number of things it can store, but i did add some extra features for purchase so i could maybe make a few bucks from it. More about that in a minute.
Here's a play store link: DC Averagizer Sorry no iphone or windows version right now.
It's not that i hate using excel or anything, it's just that my DCA buys have become less exciting and more of a standard procedure when i see a dip. I don't spend all day looking at charts anymore, and i don't need to over complicate things. I just wanted the quick convenience of a dedicated app.
I did look for other apps in the store, are there are a bunch, but none of the ones i tried were very suited to crypto. They were cluttered with other investing features, and only showed 2 decimal places, among other issues. So i figured the only way to get exactly what i want is to make it myself.
So this app does one thing and one thing only, it calculates my DCA and stores the info for all my crypto buys and sells. And it always shows all values to the eighth decimal place. I made two sections. One for doing quick calculations with just the price and quantity. And another "portfolio" section that stores all the relevant info, like coin name, ticker, currency, buy/sell dates, and a note section in case i want to enter what exchange it's on or what wallet it's stored in.
I know most of the free world loves dark themes, so i made the default theme be dark. But i'm no artist, so if you think it looks god awful, i added other theme options as a "pro unlock". I made bitcoin and ethereum themes using some of their official colors, and i also made a theme customizer so you can make it look however you want. And the pro unlock also includes backup and restore, because i don't want to loose all the data if i get a new phone or have to reset my phone.
As far as security, there really isn't much to worry about, because it's not meant to store passwords, private keys, credit card numbers, or anything else like that. But just to be perfectly clear, DON'T STORE YOUR PRIVATE KEYS IN THE NOTES. Always be safe and smart with your keys, passwords, etc. There's no reason to store that stuff in an app like this, it's just a calculator.
And while i've got your attention, i just want to say that you should never store private keys or seed words digitally, and never take a picture of them. Especially if you use a ledgetrezor. The point of a hardware wallet is that the keys are never exposed to your computer and it's viruses, the keys only exist on the internal circuitry of the device and on paper as a backup. Typing those words into a computephone defeats the whole purpose of using a hardware wallet in the first place. (i'm very security conscious, so feel free to chat me up about that if you want. i won't consider it thread hijacking or anything)
Okay back to the app. If you use the backup feature, then obviously it will need storage permission, but you can revoke that permission right after you save your backup and it will not affect the app in any other way. And it will only ask for that permission if you actually try to use backup/restore.
Again, i started this project for my own personal use, and it does everything i need it to do, but if any of you decide to check it out and find an important feature missing, just let me know and i'll consider updating it. And of course if you find any bugs, i'll try to fix them asap.
submitted by blevok to Bitcoin [link] [comments]

Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this.

From: Satoshi Nakamoto [email protected] Date: Sun, Apr 12, 2009 at 10:44 PM To: Mike Hearn [email protected]
Hi Mike,
I’m glad to answer any questions you have. If I get time, I ought to write a FAQ to supplement the paper.
There is only one global chain.
The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling. If you’re interested, I can go over the ways it would cope with extreme size.
By Moore’s Law, we can expect hardware speed to be 10 times faster in 5 years and 100 times faster in 10. Even if Bitcoin grows at crazy adoption rates, I think computer speeds will stay ahead of the number of transactions.
I don’t anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee. The owner of the node would decide the minimum fee they’ll accept. Right now, such a node would get nothing, because nobody includes a fee, but if enough nodes did that, then users would get faster acceptance if they include a fee, or slower if they don’t. The fee the market would settle on should be minimal. If a node requires a higher fee, that node would be passing up all transactions with lower fees. It could do more volume and probably make more money by processing as many paying transactions as it can. The transition is not controlled by some human in charge of the system though, just individuals reacting on their own to market forces.
Eventually, most nodes may be run by specialists with multiple GPU cards. For now, it’s nice that anyone with a PC can play without worrying about what video card they have, and hopefully it’ll stay that way for a while. More computers are shipping with fairly decent GPUs these days, so maybe later we’ll transition to that.
A key aspect of Bitcoin is that the security of the network grows as the size of the network and the amount of value that needs to be protected grows. The down side is that it’s vulnerable at the beginning when it’s small, although the value that could be stolen should always be smaller than the amount of effort required to steal it. If someone has other motives to prove a point, they’ll just be proving a point I already concede.
My choice for the number of coins and distribution schedule was an educated guess. It was a difficult choice, because once the network is going it’s locked in and we’re stuck with it. I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that’s very hard. I ended up picking something in the middle. If Bitcoin remains a small niche, it’ll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there’s only going to be 21 million coins for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000. There’s plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it’s now displayed as 1000, and 0.001 is displayed as 1.
Ripple is interesting in that it’s the only other system that does something with trust besides concentrate it into a central server.
Satoshi
Source: https://nakamotostudies.org/emails/satoshi-reply-to-mike-hearn/
submitted by SwedishSalsa to btc [link] [comments]

I got tired of using a spreadsheet for calculating DCA, so i made an android app

I'm a hodler, and i made this for my own personal use, but half way through i realized it could be useful to others that do DCA, and with just a little more work i could make it store worthy, so i went ahead and did it. It's free, with no limits on time or the number of things it can store, but i did add some extra features for purchase so i could maybe make a few bucks from it. More about that in a minute.
Here's a play store link: DC Averagizer Sorry no iphone or windows version right now.
It's not that i hate using excel or anything, it's just that my DCA buys have become less exciting and more of a standard procedure when i see a dip. I don't spend all day looking at charts anymore, and i don't need to over complicate things. I just wanted the quick convenience of a dedicated app.
I did look for other apps in the store, are there are a bunch, but none of the ones i tried were very suited to crypto. They were cluttered with other investing features, and only showed 2 decimal places, among other issues. So i figured the only way to get exactly what i want is to make it myself.
So this app does one thing and one thing only, it calculates my DCA and stores the info for all my crypto buys and sells. And it always shows all values to the eighth decimal place. I made two sections. One for doing quick calculations with just the price and quantity. And another "portfolio" section that stores all the relevant info, like coin name, ticker, currency, buy/sell dates, and a note section in case i want to enter what exchange it's on or what wallet it's stored in.
I know most of the free world loves dark themes, so i made the default theme be dark. But i'm no artist, so if you think it looks god awful, i added other theme options as a "pro unlock". I made bitcoin and ethereum themes using some of their official colors, and i also made a theme customizer so you can make it look however you want. And the pro unlock also includes backup and restore, because i don't want to loose all the data if i get a new phone or have to reset my phone.
As far as security, there really isn't much to worry about, because it's not meant to store passwords, private keys, credit card numbers, or anything else like that. But just to be perfectly clear, DON'T STORE YOUR PRIVATE KEYS IN THE NOTES. Always be safe and smart with your keys, passwords, etc. There's no reason to store that stuff in an app like this, it's just a calculator.
And while i've got your attention, i just want to say that you should never store private keys or seed words digitally, and never take a picture of them. Especially if you use a ledgetrezor. The point of a hardware wallet is that the keys are never exposed to your computer and it's viruses, the keys only exist on the internal circuitry of the device and on paper as a backup. Typing those words into a computephone defeats the whole purpose of using a hardware wallet in the first place. (i'm very security conscious, so feel free to chat me up about that if you want. i won't consider it thread hijacking or anything)
Okay back to the app. If you use the backup feature, then obviously it will need storage permission, but you can revoke that permission right after you save your backup and it will not affect the app in any other way. And it will only ask for that permission if you actually try to use backup/restore.
Again, i started this project for my own personal use, and it does everything i need it to do, but if any of you decide to check it out and find an important feature missing, just let me know and i'll consider updating it. And of course if you find any bugs, i'll try to fix them asap.
submitted by blevok to CryptoCurrency [link] [comments]

Use of Satoshi/Bits (Research from Utah State)

Researchers Propose the Use of Smaller Units to Increase Bitcoin Adoption (Dec. 23, 2019)
LOGAN – Recent research by professors at Utah State University and Southern Utah University suggest that in order for Bitcoin to gain widespread adoption and use, bitcoin must be referenced in smaller and easier to understand units that the general public can accurately assign value to, such as “bits” or “satoshis.”
Chad Albrecht, a professor at USU’s Jon M. Huntsman School of Business and the director of its MBA programs, spearheaded the study with cooperation from research associate McKay Duffin, and Dr. Steven Hawkins, an assistant professor of accounting at SUU’s Dixie L. Leavitt School of Business.
In the study, which will be published in January in the University of Pittsburgh’s peer-review academic journal, Ledger, the researchers apply whole number bias theory (or natural number bias theory) to show that, in its current form, Bitcoin is too complicated and difficult for consumers to assign value. This limits the use of bitcoin as both a store of value and as a medium of exchange.
As such, the researchers recommend that both exchanges, wallets and the media begin to reference bitcoin in smaller and easier to understand monetary units that the public can accurately assign value to when transacting in Bitcoin. A “bit” equates to 1/1,000,00thof a bitcoin, while a “satoshi” is the smallest unit of a bitcoin and equates to 1/100,000,000thof a bitcoin.
In the study, the researchers state: “Under whole number bias theory, most consumers would not want to spend .00091232 of a single bitcoin for a McDonald’s Big Mac. Rather, because consumers prefer whole numbers with limited decimal places, most consumers would prefer engaging in an easier-to-understand monetary system such as the U.S. dollar, where a McDonald’s Big Mac would cost just $5.50. In this scenario, for most consumers, the unitary measurement of Bitcoin becomes too complicated with eight decimal places, creating confusion in assigning value to the transaction. Similarly, most individuals would prefer to have $2,500 in their checking account compared to .33219732 of a single bitcoin. In each of these scenarios, the lack of whole numbers is perceived by consumers to be too small and complicated and the value too nominal.”
When compared to most major currencies around the world, including the U.S. dollar, the British pound, the Euro, the Japanese yen, the Mexican peso, or the Chinese renminbi, bitcoin is the only currency where one monetary base unit is so valuable and where the mantissa (the fractional or numerical part of a number that occurs after the decimal point) will commonly have six, seven, or even eight digits.
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Decimal Place Value

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