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An Overview of Arizona Primary Races - Part 4: Legislative Districts 11-20
Welcome back to my omnibus compendium of Arizona’s upcoming primary races in the style of my 2018 summaries. The primary is set to take place August 4th – early voting ballots should have been mailed out on or around July 8th. Arizona’s a really interesting state (I may be a hair biased), since it not only is home to 2-3 swing House seats and a high-profile Senate race, but also tenuous majorities in both state houses that could – theoretically – neuter Ducey’s trifecta this fall. And counties have their races this year as well, so I’ve highlighted some of the fireworks ongoing in Maricopa. And this is before factoring in the fact that our state is a COVID-19 hotspot, with an unpopular Republican Governor doing almost nothing to stop it. If you’re interested about which district you live in, check https://azredistricting.org/districtlocato. If you want to get involved with your local Democratic party, find your legislative district on the previous link (NOT CD), and then search for your LD’s name at this link. Feel free to attend meetings, they’re a great way to get involved with candidates and like-minded individuals. If you wish to donate to a “clean elections” candidate (mentioned in the post as “clean”), you will have to live in that candidate’s legislative district to give qualifying $5 contributions (check here if anyone needs it in your area), but they are allowed to accept a limited amount of “seed money” from people outside of the district. The three CorpComm candidates can take $5’s statewide. If you do not want to vote at the polls, you will need to request an early ballot using the website of your county’s recorder prior to July 4th. Example links for Maricopa, Pima, and Pinal. Others available if needed. Race ratings for listed primaries will be listed as Safe/Likely/Leans/Tilt/Tossup (alternatively Solid instead of Safe if my mind blanks) and are not indicative of my own preference for that seat. I’ll denote my personal primary preferences at the end of this series, as well as the best Republican ticket for the Dems if someone here really really wants to pull a GOP ballot in the primary. I do not advise it, but since I can't stop ya, you'll get my best suggestions. Write-in candidates have yet to file, which could give us an outside chance at getting some Libertarians on the ballot (the Greens have lost their ballot access). If you have any questions about voting in the primary, which races are the most contested, and how to get involved with other Democrats in Arizona, feel free to PM me. All fundraising numbers here are as of 7/18/2020 (“Q2”). District stats are listed for the race that involved the top Democratic vote-getter in the past two midterm cycles plus the last two presidential races, taken from Daily Kos’s legislative sheet – Clinton’16, Obama’12, Sinema’18, and Garcia’14 (not his 2018 run). Part 1: Statewide and Congressional Races Part 2: Maricopa County Races Update 1: Congressional and County Rating Updates Part 3: Legislative Districts 1-10 ALL OPINIONS ARE MY OWN SOLELY IN MY CAPACITY AS A VOTER IN ARIZONA, AND NOT REPRESENTATIVE OF ANY ORGANIZATIONS I WORK/ED FOR OR AM/WAS A MEMBER OF. THIS POST IS IN NO WAY ENDORSED BY THE ARIZONA DEMOCRATIC PARTY OR ANY SUB-ORGANIZATION THEREOF, OR ANY FILED CANDIDATE. Alright, let’s get cracking, y’all. I’m going to try to save time and characters on the safer seats when I can, although of course I’ll expound on any fun stuff that comes up. Legislative District 11 (McSally+9.93, Trump+13.9, Douglas+16.7, Romney+19.3) The first district in this writeup installment is LD11, a district very close geographically and politically to LD8. Unlike LD8, however, LD11 has slowly been trending towards Democrats, instead of away from them. Encompassing the southern half of Pinal (including a large chunk of Casa Grande) and bits of Pima, LD11 could swing under the right conditions, but is probably a safe seat this year. That’s disappointing, since the incumbents in the district are pretty darn nasty. Incumbent Senator Venden “Vince” Leach ($98K COH), a sort-of Great Value Mitch McConnell, loves to spend his time filing SB1487 complaints against various liberal towns in Arizona – basically, suing cities over their attempts to go above and beyond state law when it comes to certain issues. Leach leads the SB1487 leaderboard with 4 SB1487 suits, most recently targeting Pima County over COVID-19 safety regulations that were slightly stricter than state law. Joining the suit were his House counterparts, COVID-19 conspiracy-monger Bret Roberts ($22.4K COH) and actual goddamn Oathkeeper and Charlottesville trutherMark Finchem ($27K COH). Facing Finchem and Roberts is the Democratic House nominee for LD11, Dr. Felipe Perez ($24.2K COH). Perez has made few waves online and I haven’t seen him even in the same tier of candidates as Girard in LD8, so he’s probably not going to supercharge this district into Dem. territory. But given the spike in public approval for the healthcare industry due to COVID, he may get lucky. On the Senate side, Leach’s opponent will be one of retired public administrator Linda Patterson ($4.7K COH, Clean) and Marine drill instructor Joanna Mendoza ($14.5K COH). Anything could happen between now and August, but Mendoza currently has a significant organizational, political (endorsements) and fiscal advantage over Patterson, and will probably be the nominee come August. A well-run race could feasibly knock out Finchem or Roberts, but I’ve yet to see that happen. Still, it’s far out enough that I’m not going to slam the door shut on a Perez win just yet. hunter15991 Rating: GOP primary unopposed, Safe Mendoza, Perez unopposed, Safe Leach, Safe Roberts, Likely Finchem general Legislative District 12 (McSally+17.19, Trump+24.5, Douglas+17.84, Romney+33.35) Really not going to focus much on this district to save space, as it’s a snoozefest. House Majority Leader Warren Petersen ($84.8K COH) is running for Senate to replace outgoing Sen. Eddie Farnsworth. Petersen faces Haitian DREAMer. former teacher, and 2018 LD-12 House nominee Lynsey Robinson ($1.4K COH). Robinson’s a great person, but lost her House race against Petersen by the 1v1 equivalent of 20 points, and shows no sign of knocking him off this time around. Petersen’s runningmates, Rep. Travis Grantham ($39K COH) and Queen Creek Councilman Jake Hoffman ($107.7K COH) are unopposed in both the primary and general. hunter15991 Rating: Primaries all unopposed, Safe Petersen general, GOP House unopposed Legislative District 13 (McSally+21.59, Trump+26.96, Douglas+26.22, Romney+31.62) Moving on to another Safe GOP district with not much activity – LD13! Stretching from the whiter Yuma neighborhoods all the way to Phoenix exurbs in Maricopa County (and the mirror image of LD4 to its south), LD13 routinely sends Republican slates to the legislature. This year, incumbents Sen. Sine Kerr ($58.5K COH), Rep. Tim Dunn ($60.4K COH), and Rep. Joanne Osborne ($15K COH) are all fighting to hold their seats. Kerr is unopposed in both the primary and general, while Dunn and Osborne are in the opposite situation – they’ve got two elections between now and inauguration day. Democratic paralegal Mariana Sandoval ($3.1K COH, Clean) will put up little resistance for the GOP in the general, but the entrance of former Senator and former Speaker Pro Tem Steve Montenegro ($27.8K COH) could really shake up the LD13 House primary. Montenegro, a Salvadoran-American legislator who resigned his Senate seat to run for the CD-8 special election primary (he placed 3rd, ultimately losing to then-Sen. Debbie Lesko), was a rising star in the AZ-GOP before his resignation and contemporaneous sexting scandal. This Senate run could be a good way for him to get his foot back in the door, and since his election would single-handedly double the amount of non-white Republicans in the legislator, I would figure that some Arizona Republicans are excited that Montenegro is throwing his hat back into the ring. I haven’t seen much about this primary online, but there’s vague general on GOP pages dinging Montenegro for his ties to a 2016 National Popular Vote bill in the legislature, which is a big purity sticking point for the further-right members of the Arizona GOP. That being said, the chatter is vague at best, and Montenegro has enough conservative cred (with endorsements from people like Joe Arpaio and former Rep. Trent Franks back during his special election run) that he will primarily face issues over the sexting scandal. I’ll give Osborne and Dunn a slight advantage over their incumbency, financial well-being, and the issues in Montenegro’s closet, but this is a really tight race and Montenegro could very well end up back in the legislature this time next year. hunter15991 Rating: Dem. unopposed, Kerr unopposed, Tilt Osborne, Tilt Dunn, All Safe GOP general Legislative District 14 (McSally+23.83, Trump+26.24, Douglas+22.88, Romney+26.84) This is yet another district where Democrats stand no real chance in competing this year, and haven’t in quite some time. Situated in SE Arizona, LD14 once incorporated some ancestrally Democratic mining towns in Greenlee and Graham County, but they’ve grown red enough in the past couple of decades that this district is now held by three GOP legislators. Former House Speaker and current Sen. David Gowan ($60.9K COH) (who was previously in the news for trying to use a state vehicle to assist in a failed Congressional campaign) faces realtor Bob Karp ($12.9K COH, Clean) in the general, while House incumbents Rep. Gail “Tax porn to build the wall” Griffin” ($50.5K COH) and Rep. Becky Nutt ($47.4K COH) face retired union activist Ronnie Maestas-Condos ($686 COH, Clean) and teacher Kim Beach-Moschetti ($13K COH, Clean). All 3 races will probably be easy GOP wins. hunter15991 Rating: Candidates unopposed in primaries, All Safe GOP general Legislative District 15 (McSally+8.01, Trump+16.61, Douglas+11.06, Romney+25.44) LD15, up in Northern Scottsdale and Phoenix, is one of the final frontiers of suburban expansion for Arizona Democrats, along with the Mormon suburbs of the far East Valley (LD12, 16, and 25). A very wealthy area, LD15 has routinely been a GOP stronghold – but their hold on the area has been dissipating steadily rapidly in the Trump era. In 2018, two Dem. House candidates both managed to outperform the “single-shot” performance of a 2016 candidate, and Kristin Dybvig-Pawelko ($48.6K COH, hereafter “KDP”) improved on the district’s 2016 State Senate margin by several points despite facing a significantly more difficult opponent than the 2016 Democrat. KDP is running again this year, as a single-shot candidate for the State House. Her opponents have yet to be set in stone, as both GOP Representatives are vacating their seats to run for higher office, and there are three GOP candidates in the August primary vying for two nominations. Veteran Steve Kaiser ($13.6K COH) and State House policy adviser Justin Wilmeth ($16K COH, $5.2K self-funded) are the nominal establishment picks for both seats, and have been endorsed by a whole host of GOP legislators. However, they face stiff competition from businessman Jarret Hamstreet ($23.2K COH, $10K self-funded), who boasts endorsements from GOP power-players like the local Chamber of Commerce and the NRA, as well as tacit support from the incumbent Senator in the district Heather Carter ($101.2K COH) (somewhat of an Arizona Lisa Murkowski). I’ve been able to find very little chatter on the race, but with Hamstreet’s significant fundraising advantage I definitely think he secures one of the two nominations this November. While the district is still quite red, KDP is no spring chicken, and facing Kasier, Hamstreet, or Wilmeth will be a lot easier than her run against Carter in 2018. If I’m going to be honest, it is the GOP Senate primary that is almost as important as the House general election. Heather Carter has gotten on the bad side of quite a few conservative legislators during her tenure in the Senate, holding up GOP budgets with her partner in crime Paul Boyer in 2019 over a stalled child sexual assault statute of limitations bill and this year over an amendment to give additional funding to firefighters for PPE and to students for tuition support. That amendment failed 15-15 thanks to one Kate Brophy McGee - more on her later. Carter’s actual attempts at moderation (as opposed to McGee’s performative bullshit) has inspired current State Rep. Nancy Barto ($9.9K COH) to challenge her for the Senate. Barto has the support of both Kaiser and Wilmeth (as well as most of the GOP establishment) but has been routinely lagging behind Carter in fundraising (both in terms of current COH and overall amount raised). Carter has been bringing in more “moderate” and pro-public education GOP volunteers from all over Phoenix and is sure to put up a fight in August. As it stands, I think she narrowly pulls it off. There is no Democratic Senate opponent in the general, so winning the primary automatically wins the seat. If you’ve got GOP friends in AZ who just can’t bare phonebanking for Democratic candidates but complain about the state of the Republican party, send them her way. Carter has beliefs. Barto has none. Slate totals:
Barto coalition (KaiseWilmeth/Barto): $40.5K
hunter15991 Rating: Dem. unopposed, Tilt Carter, Lean Hamstreet, Tilt Kaiser, GOP Sen. unopposed in general, Likely Hamstreet, 2nd GOP unopposed Legislative District 16 (McSally+17.58, Trump+28.37, Douglas+17, Romney+28.11) LD16, out on the border between Pinal and Maricopa County, is probably the reddest district in Arizona that could still be relatively considered “suburban”. The only Democratic candidate is write-in House candidate Rev. Helen Hunter ($783 COH), and while her background is stellar (incl. past work with the NAACP, Mesa PD’s Use of Force Committee, and other community involvement), there isn’t even a guarantee she’ll make it onto the November ballot. Meanwhile, Rep. Kelly Townsend ($15.5K COH) has tired of the State House (just like she tired of her furry fursona, and is running unopposed for State Senate. The real drama, therefore, is in the GOP State House primary to win Townsend’s old seat. Incumbent Rep. John Fillmore ($12.9K COH) is running for another term, and seems set to win one of the two nominations. Townsend’s former seat is contested by respiratory therapist Liza Godzich ($14.6K COH) (who wins the “most moderate” title by default by virtue of taking COVID kinda seriously), CorpComm policy advisor Jacqueline Parker ($16.4K COH), and school choice activist/general lunatic Forest Moriarty ($17.7K COH). Moriarty has the valuable Townsend endorsement, but has not been able to consolidate support easily elsewhere – Parker’s CorpComm ties let her bring quite a few assets of her own to bear, as well as endorsements from Congressman Andy Biggs and the NRA. This election will be a test of Townsend’s downballot coattails, as well as those of the school choice movement in AZ parlaying any support they may have into legislative results. Success for Moriarty here could go as far as inspiring Townsend to run for Governor. We’ll see if it comes to that. hunter15991 Rating: No Dem. filed (pending write-in), Townsend unopposed, Lean Fillmore, Tossup ParkeMoriarty, GOP unopposed in general Legislative District 17 (Sinema+3.53, Trump+4.09, Douglas+3.12, Romney+14.16) One of the reasons I significantly delayed writing these writeups was because I was dreading writing about LD17. Not to doxx myself completely, but in 2018 I had far too many negative encounters with the incumbent Democratic Representative, Jennifer Pawlik ($101.3K COH) that made me routinely question my support of her. I’m still trying to heal the wounds in multiple relationships I have with friends that were caused by Pawlik’s actions. I deeply regret ever lifting a finger to help her when I had opportunities in other districts. But because her actions never got physical, because the stakes are so high this year, and because too much unsubstantiated negative talk about a candidate can get a post deleted - I don’t wish to publicly expound on her actions (nor put words in the mouth of other people who interacted with her). Feel free to PM if interested. Pawlik as a candidate is a grab-bag. On paper she’d be a strong option for a suburban district – a teacher and education funding activist with a prior win during the 2018 wave. However, behind the scenes she is quite a poor campaigner in ways that directly impact Democratic candidates’ odds and presences in the district, including her own - which makes me more apprehensive of her odds of re-election than her fellow Jennifer in HD18 (Rep. Jennifer Jermaine), who’s quite similar to Pawlik on the whole. Pawlik’s Senate runningmate this year is local businessman and first-generation American Ajlan “AJ” Kurdoglu ($51.5K COH). AJ’s a good guy and more serious of a campaigner than Pawlik, and is on well enough terms with her that no inter-candidate drama will probably happen this fall (which would be a welcome change for the district). He’s been slightly outpacing her in fundraising and seems to be hitting the ground running. The Republican incumbents in this district are Sen. JD Mesnard ($102.6K COH), who moonlights as legal counsel for an organization categorized as a hate group by the SPLC, and Jeff Wenninger ($117.8K COH), a backbench Bitcoin bro. Wenninger and Mesnard have both been in their seats for a while, and this cycle were backing Chandler Vice Mayor (and JD Mesnard’s mom) Nora Ellen for the other State House seat – Ellen lost to Pawlik in 2018. But in a stroke of luck for Pawlik, Ellen failed to qualify for the ballot this year. However, in a similar stroke of luck for the GOP Liz Harris ($27.3K COH, $21.3K self-funded) - a local realtor (like Ellen) - did qualify. I’ve yet to discern just how close she is with Mesnard and Wenninger, and how much cash she is willing to dump into this race, but in terms of how random non-GOP establishment candidates the LD17 Republicans could have done far worse than Harris. All the pieces in this district would point to a shift even further left than it was in 2018, and had I not known what I know about Pawlik this would be a Tilt D House/Tossup Senate. But I don’t know if she’s changed since 2018 - and if she hasn’t, there is no guarantee that she won’t snatch defeat from the jaws of victory. hunter15991 Rating: Primaries uncontested, Tilt Mesnard, Tossup House (Pawlik/Harris), Safe Wenninger Legislative District 18 (Sinema+18.58, Clinton+10.39, Garcia+12.5, Romney+1.93) Like LD10 in the previous part of my writeup, the situation in LD18 is another blast of the proverbial Gjallarhorn for the AZ-GOP’s suburban chances. Once a very competitive district (fully red as recently as 2016), LD18 is now held by 3 Democrats – Sen. Sean Bowie ($106.3K COH), Rep. Jennifer Jermaine ($65.7K COH), and Rep. Mitzi Epstein ($60.8K COH). Bowie and Epstein have carved rather moderate paths in their respective houses having been elected back when this district was more competitive, while Jermaine’s tacked a bit more to the left, and has been a prominent voice for increasing education funding (prior to running for the State House she was a public school funding activist and IIRC Moms Demand Action member) and for missing indigenous women (Jermaine is part indigenous herself). The GOP’s troubles in this district started around the filing deadline, when one of their candidates, Alyssa Shearer, withdrew from the primary. Super anti-abortion nut Don Hawker ($619 COH) filed as a write-in candidate to replace her, but it’s uncertain if he’ll qualify for the general election. Their other House candidate, Bob Robson ($11K COH) is on paper a solid candidate (being a former Speaker Pro Tem of the state house), but lost by the equivalent of 6% to Epstein in 2016 and by 19% when he ran for Kyrene Justice of the Peace (a district that roughly matches the boundaries of LD18. Robson’s an old warhorse) - going 0 for 2 since 2014. It’s a sign of the times that he and discount Scott Roeder are the two potential House candidates for the GOP in this district. In the Senate, the GOP doesn’t fare much better. Real estate agent Suzanne Sharer ($4.2K COH) is trying to run a semblance of a decent race against Sen. Bowie, but keeps using her campaign Twitter (@blondeandsmart – I promise you that’s a real handle) to retweet QAnon shit. Sharer is going nowhere in November. That’s if she makes it to November, given her past retweets advocating for people to drink bleach to cure COVID. hunter15991 Rating: Primaries uncontested, All Safe Dem. general Legislative District 19 (Sinema+44.97, Clinton+40.25, Garcia+32.38, Obama+34.3) LD19 is a safe Democratic district in the West Valley, where all the drama is happening in the primary. Rep. Lorenzo Sierra ($9.3K COH) and Rep. Diego Espinoza ($25.2K COH) are both running for re-election, defending their seats against challenger Leezah Sun ($5.1K COH), a local activist. Sierra and Espinoza haven’t been particularly conservative in their voting records in the legislator, but have taken some flack from the more progressive wing of the party lately for outside corporate expenditures in this primary. I’m honestly unsure why these PACs are weighing in given that Sun isn’t running all that good of a campaign, but I guess better spend it here than in tighter primaries. Assistant State Minority Leader Lupe Contreras ($7.2K COH) is unopposed in his primary. In the general, there’s one GOP candidate for both House and Senate, but both are write-ins and could possibly not qualify for the ballot. For now, Democrats are unopposed in this district in the general. hunter15991 Contreras uncontested, Safe Sierra, Safe Espinoza, Uncontested Dem. general Legislative District 20 (Sinema+3.7, Trump+8.01, Douglas+0.04, Romney+12.87) LD20 is another suburban district where Democrats could see sizable gains this fall. Won by Sinema and Maricopa County Recorder Adrian Fontes, and almost snagged by David Garcia during the 2014 Superintendent race, LD20 has been on the Arizona Democratic Party’s mind for a few cycles now. Their candidates this year are strong – 2018 Senate nominee Doug Ervin ($94.6K COH) has filed for a rematch after losing by 4 in 2018 (where an independent ex-GOP candidate took 7% - Ervin claims Quelland actually hurt him more than district Republicans), and retired teacher Judy Schweibert ($158.2K COH) is running for House. Both are running bang-up campaigns and seem set to make November a problem for local Republicans, and Ervin has eschewed the public funding he took last time in order to be able to fundraise better for the slugfest ahead. The local GOP, however, isn’t taking this lying down. Representatives Shawnna Bolick ($161.8K COH) - who was almost bumped off the ballot for using a PO Box as her filing address - and Anthony Kern ($73.4K COH) - an ex-cop on the Brady “untrustworthy cop” list - have been building their warchests in preparation for this cycle after narrowly hanging on in 2018 (despite both Democrats in that race running with public funding). While Bolick has typically stayed out of especially heinous controversy on social media (despite once posting that all masks come from Wuhan and are thus contaminated with COVID), Kern’s time on the force seems to have stuck with him, and his Twitter feed is full of a lot of pro-cop posts and whatnot. With Schweibert running as a single-shot candidate this year I can see Kern’s tendency of accidentally discharging his foot into his mouth finally coming back to bite him. On the Senate side the past election results are slightly more promising than the House, but the opponent is tougher as well. Sen. Paul Boyer ($50.5K COH) is probably the closest there is to a living John McCain in the Arizona Legislature (not to deify him too much – he’s still conservative), having blocked two GOP budgets in the past two years along with Sen. Heather Carter (see LD15). In 2019 this was over a child sexual assault reform bill (extending the statute of limitations), and in 2020 this was over a lack of funding to firefighters and university students in the emergency “skinny” COVID budget the legislature passed in the spring. His attempts at moderation are visible outside of that: Boyer’s abysmal Q2 fundraising – per his own words – came from not fundraising at all during the 5 month long legislative session despite campaign finance rules only banning lobbyist contributions during the session (and I guess that’s commendable self-policing), and on his website he stops just short of calling for abortion to be banned, which makes him Margaret fucking Sanger among the current AZ-GOP. That’s not to say that people shouldn’t support Ervin with all it takes – hell, if anything he’ll need more help to oust Boyer. Ultimately I think Ervin holds a narrow lead in this race with the absence of Quelland and with far better fundraising than what the LD20 slate had last year, but the election is still quite far away. If I had to pick one Democrat to win in this district, it’d be Schweibert. hunter15991 Rating: Primaries uncontested, Tilt Ervin, Tilt Schweibert, 2nd House uncontested
Disclaimer: I am not and have never been affiliated with any of the mentioned parties in a private or professional matter. Presumably in an attempt to smear a local competitor, Hayden Otto inadvertently publishes irrefutable on-chain proof that he excluded non-BCH retail revenue to shape the "BCH #1 in Australia" narrative.
Scroll down to "Proof of exclusion" if you are tired of the drama recap.
Scroll down to "TLDR" if you want a summary.
In September 2019, BitcoinBCH.com started publishing so called monthly "reports" about crypto retail payments in Australia. They claimed that ~90% of Australia's crypto retail revenue is processed via their own HULA system and that ~92% of all crypto retail revenue happens in BCH. They are aggregating two data sources to come up with this claim. One is TravelByBit (TBB) who publishes their PoS transactions (BTC, LN, ETH, BNB, DASH, BCH) live on a ticker. The other source is HULA, a newly introduced POS system (BCH only) and direct competitor to TBB run by BitcoinBCH.com - the same company who created the report. Despite being on-chain their transactions are private, not published and not verifiable by third parties outside BitcoinBCH.com Two things stood out in the "reports", noted by multiple users (including vocal BCH proponents):
The non-BCH parts must have tx excluded and the report neglects to mention it (the total in their TBB analysis does not match what is reported on the TBB website.)
The BCH part has outliers included (e.g. BCH city conference in September with 35x the daily average)
Hayden Otto's reaction
In direct response to me publishing these findings on btc, Hayden Otto - an employee at BitcoinBCH.com and the author of the report who also happens to be a moderator of /BitcoinCash - banned me immediately from said sub (source). In subsequent discussion (which repeated for every monthly "report" which was flawed in the same ways as described above), Hayden responded using the same tactics: "No data was removed"
"The guy is straight out lying. There is guaranteed no missing tx as the data was collected directly from the source." (source)
"Only data I considered non-retail was removed"
"I also had these data points and went through them to remove non-retail transactions, on both TravelbyBit and HULA." (source)
He admits to have removed non-BCH tx by "Game Ranger" because he considers them non-retail (source). He also implies they might be involved in money laundering and that TBB might fail their AML obligations in processing Game Ranger's transactions (source). The report does not mention any data being excluded at all and he still fails to explain why several businesses that are clearly retail (e.g. restaurants, cafes, markets) had tx excluded (source). "You are too late to prove I altered the data"
"[...] I recorded [the data] manually from https://travelbybit.com/stats/ over the month of September. The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
Proof of exclusion
I published raw data as extracted from the TBB site after each report for comparison. Hayden responded that I made those numbers up and that I was pulling numbers out of my ass. Since he was under the impression that
"The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
he felt confident to claim that I would be
unable to provide a source for the [missing] data and/or prove that that data was not already included in the report. (source)
Luckily for us Hayden Otto seems to dislike his competitor TravelByBit so much that he attempted to reframe Bitcoin's RBF feature as a vulnerability specific to TBB PoS system (source). While doublespending a merchant using the TBB PoS he wanted to prove that the merchant successfully registered the purchase as complete and thus exposed that the PoS sales history of TBB's merchants are available to the public (source), in his own words:
"You can literally access it from a public URL in the Web browser. There is no login or anything required, just type in the name of the merchant." (source)
As of yet it is unclear if this is intentional by TBB or if Hayden Ottos followed the rules of responsible disclosure before publishing this kind of data leak. As it happens, those sale histories do not only include the merchant and time of purchases, they even include the address the funds were sent to (in case of on-chain payments). This gives us an easy method to prove that the purchases from the TBB website missing in the reports belong to a specific retail business and actually happened - something that is impossible to prove for the alleged HULA txs. In order to make it easier for you to verify it yourself, we'll focus on a single day in the dataset, September 17th, 2019 as an example:
Hayden Otto's report claims 20 tx and $713.00 in total for that day (source)
The TBB website listed 40 tx and a total of $1032.90 (daily summary)
Paste the associated crypto on-chain address 17MrHiRcKzCyuKPtvtn7iZhAZxydX8raU9 in a blockchain explorer of your choice, e.g like this. This proves that a transfer of funds has actually happened.
I let software aggregate the TBB statistics with the public sale histories and you'll find at the bottom of this post a table with the on-chain addresses conveniently linked to blockchain explorers for our example date. The total of all 40 tx is $1032.90 instead of the $713.00 reported by Hayden. 17 tx of those have a corresponding on-chain address and thus have undeniable proof of $758.10. Of the remaining 23, 22 are on Lightning and one had no merchant history available. This is just for a single day, here is a comparison for the whole month.
TBB wo. Game Ranger
TBB according to Hayden
The usual shills will respond in a predictive manner: The data must be fake even though its proof is on-chain, I would need to provide more data but HULA can be trusted without any proof, if you include outliers BCH comes out ahead, yada, yada. But this is not important. I am not here to convince them and this post doesn't aim to. The tx numbers we are talking about are less than 0.005% of Bitcoin's global volume. If you can increase adoption in your area by 100% by just buying 2 coffees more per day you get a rough idea about how irrelevant the numbers are in comparison. What is relevant though and what this post aims to highlight is that BitcoinBCH.com and the media outlets around news.bitcoin.com flooding you with the BCH #1 narrative are playing dirty. They feel justified because they feel that Bitcoin/Core/Blockstream is playing dirty as well. I am not here to judge that but you as a reader of this sub should be aware that this is happening and that you are the target. When BitcoinBCH.com excludes $1,000 Bitcoin tx because of high value but includes $15,000 BCH tx because they are made by "professionals", you should be sceptical. When BitcoinBCH.com excludes game developers, travel businesses or craftsmen accepting Bitcoin because they don't have a physical store but include a lawyer practice accepting BCH, you should be sceptical. When BitcoinBCH.com excludes restaurants, bars and supermarkets accepting Bitcoin and when pressed reiterate that they excluded non-retail businesses without ever explaning why a restaurant shouldn't be considered reatil, you should be sceptical. When BitcoinBCH.com claims the reports have been audited but omit that the data acquisition was not part of the audit, you should be sceptical. I expect that BitcoinBCH.com will stop removing transactions from TBB for their reports now that it has been shown that their exclusion can be provably uncovered. I also expect that HULA's BCH numbers will rise accordingly to maintain a similar difference. Hayden Otto assumed that nobody could cross-check the TBB data. He was wrong. Nobody will be able to disprove his claims when HULA's BCH numbers rise as he continues to refuse their release. You should treat his claims accordingly. As usual, do your own research and draw your own conclusion. Sorry for the long read.
BitcoinBCH.com claimed no transactions were removed from the TBB dataset in their BCH #1 reports and that is impossible to prove the opposite.
Hayden Otto's reveals in a double spend attempt that a TBB merchant's sale history can be accessed publicly including the merchant's on-chain addresses.
(For example,) this table shows 40 tx listed on the TBB site on Sep 17th, including their on-chain addresses where applicable. The BitcoinBCH.com report lists only 20 tx for the same day.
(Most days and every months so far has had BTC transactions excluded.)
(For September, TBB lists $10,502 yet the report only claims $3,737.
Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging atGenesis Block. https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player This is the third post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series. 97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit. So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.
Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility. There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
USDC($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid. Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens. Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive. The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments. Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol. Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery. Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur. And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio. With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong. Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k. There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols. Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth. https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943 There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers. Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound. There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto). Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times. The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW! Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized). Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum). In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.” https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8 When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be. We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
--- None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block. So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions. To look at more projects in DeFi, check outDeFi Prime,DeFi Pulse, orConsensys. ------ Other Ways to Consume Today's Episode:
Looking for a way to save my bitcoin in case of death
There are lots of lost bitcoins out there, and the more adopters will join the more bitcoins will accidentally get lost. How do you plan to transfer your bitcoin to your loved ones in case of unexpected death? I guess they could find the seed in my safe deposit box, but they sill would need to break the passphrase. I've read that with time-lock you can create transactions that could be applied (mined) only in the future - so I could create a transaction that transfers all my savings to my heirs in 1 year from now, and then remember to invalidate it after 11 months - i.e. transfer all my savings to a new wallet, so the time-locked transaction will be seen as an invalid double-spend. Do you know of a wallet app that does that?
>Be me, Wild magic mage. Tried making an auto-play build where i have a 90% chance for my magic to go wild and i randomly cast either a spell or a ritual (D10 roll. If it lands on anything that isn't 10 i "Fail" if it lands on 10 i CRIT-FAIL MOTHER HUMPERS! i cast a 8 or higher level spell) I'm also blissfully ignorant to my magic-dysfunction. (Everything about me is compressed to write only the most interesting things. there was maybe 6 spells in between every spell i cast) >DM stoked and made a "spinning wheel of luck" i spun every time my magic went wild. >Half-orc Barbarian and accidental victim of strange spells. Has a movement speed of 100ft. >Human mage and epic facepalmer whenever stuff i do go wrong. So basically my entire life. >Invisible half-god and cleaner of my messes. Only intervenes if my spells turn REALLY bad. Or turn me in to a God... AGAIN. Only ever interacts if stuff i do get too stupid for the material world. I can see him, nobody else can. Appears in exactly one line of text in this story. >First quest is to kill some ogres in a forest. >As darkness falls upon the wooded forest we're in we decide to set up camp. >I get campfire duty. >Gather sticks, kindling, chop wood. >I think our tinderbox is pretty boring so i try to use a VERY low powered fireball to light the fire. >Party looks at me as i cast my spell. Wizard already facepalming at what's about to happen. >Magic goes as wild as Walmart shoppers during Black Friday. >SPIIIIIN THE WHEEEEEL! >A poisonous cloud fills the camp. >Poisons everyone in the camp, Including the half-god that rolled a nat 1. >10 minutes pass as the poison clears >Get my ass beat by the Barbarian who failed 4 CON saves even though his CON stat is sky-high. >Wizard is on campfire duty from now on. >As punishment i get set on first-watch duty. >I get a plan. I try to cast an unseen servant to stand guard for me. >SPIN THE WHEEEEE >Suddenly a projected image of myself appears >I look at myself "Huh, even better than i planned! Hey, me. Stand guard, if something unknown appears alert us" >I go to sleep. >Wizard who has 2nd watch wakes up. >Goes outside to see me sitting on a stump by the campfire >"Nice to see you haven't caused trouble" >Projected image of myself turns around and says "Like i ever do! Good Night" >As wizard is moving to trade places with the projected image it passes right through him. >"WOAH THE F****" could be heard by the wizard. loud enough to wake up our Barbarian who comes bursting out of the tent. >My projected image enters my own tent, passing right through the cloth entrance. >Wizard and Barbarian both storm my tent, ripping the entrance open. >See me spooning myself. sleeping blissfully. >Wizard forces me to do 2nd watch with him. >Noon breaks as we hear monstrous shouting deeper in the forest. >Barbarian takes of in a dash speeding 200ft in 6 seconds. (Dashing consumes all actions but double movement speed) >NYYYYAOM >Wizard manages to throw a rope around him and me as we speed off in to the distance. >Smash in to one of the ogres at full speed >I get KO'd >PRAISE BE LOW CON BUILDS! >Wizard and Barbarian both tenderize the ogres as i spend most of my time hiding after the Wizard revived me. >My projected image catches up with me. "Hey, me. What's goi'n on?" >"Just hiding. Try to stay down, if i die both of us die" >I look at myself >"But i'm the original" >OhShit.png >Get in to an argument with myself about who is the original. >after looting, the Wizard shows up to us arguing. >I'm arguing with myself just as the wizard punches my projected image. >Hand passes through. No resistance. >Image realizes that he isn't the original, and that he will die as soon as the spell duration reaches it's end. >Starts screaming, having a total mental breakdown. Begging us to find a way to keep him alive. >"PLEASE, I HAVE ALL YOUR MEMORIES, I AM YOU! DON'T KILL ME! I AM A SENTIENT BEING! PLEASE HELP I BEG OF YOU!" >Wizard dispels him >"Your spells sure are annoying" >Barbarian found an item that can temporarily double his speed once a day. >Laughs in 300ft dash movement speed. (Previous boots gave him extra movement speed) >Wizard found a shit-ton of gold. >We need to return to the mayor of the village who gave us the quest. >Realize our barbarian can carry us and run at 50 feet/s >After a few quick CON stat checks to check if the Barbarian goes unconscious before reaching our location later. >Mayor of the village is astounded that we managed to kill the ogres in such a short time. >Gives us a house in the village and buys us a round of mead from the local tavern. >We enter our house to relax and for the Wizard to use his magical magic to find us a quest. >I'm eating grapes on a chair in front of the fireplace >A grape falls and rolls under another chair >Chair has those annoying gap-covers that make it impossible to find stuff that has fallen under them. >Cast Unseen servant to retrieve my grape so i can eat it in peace. >Barbarian watches this happen and goes wide-eyed >SPIN THE WHEEEEEEEEEEE >I shoot off a firebolt in to the chair next to me >It catches fire. >I try to extinguish the fire with a gust of wind. as the Barbarian moves in to extinguish the fire. >WHEEEEEEEE >Roll a 10. CRITICAL FAIL YEEEEAH >Nothing happens >Huh... >Barbarian finishes smashing out the fire. >picks me up to kick me across the room >I grab his hand to stop him throwing me. >Barbarian's pupils expand. >Releases me as he sits down an stares in to the void. never blinking >He sees everything that will happen in the next 8 hours. >He sees the Wizard die, some unholy god possessing him as an avatar of evil. >Just as the Barbarian returns to being normal the Wizard enters >"I just talked to a somewhat sketchy guy but i believe there are many things in it for us!" >Barbarian explains what he has seen. >Wizard believes him and we never do that quest. >A long-ass time passes (I could not make the sessions due to work) >We have a quest with the king to deliver an important item to another person that will give us an item the king needs. >FetchQuest.jpg >I hold the satchel and try to cast "teleport" to get it over with quick. >SPEEEEEEEEN >Throne room wall gets a perfectly rectangular hole leading to the kitchen. >Cooks get ROYALLY confused (har har har) >King squints and says >You need some practice my friend! Try again, after all practice makes perfect! >Try to teleport again >THEEEEEEEEEEE >A piece of parchment appears >uhh. >King's mage tells me i can write anything on it and it will only be visible readable by anyone i choose. >Write "Wizard is a dick" >Show Barbarian >Barbarian can't read. >Make a picture of the wizard and a dick >Takes the Barbarian a few minutes before he understands >Laughs his ass off >Wizard is angry at us for not showing him what's so funny. >On the way to the King's friend we get attacked by huge pack wolves >Barbarian manages to smash the alpha in to a fine pulp with a CRIT to the face. >Wizard freezes multiple of them in place with a well placed ice-spell >I try to cast a fireball to join in on the fun >SPEEEN! >Wolves turn in to a tepee hut made of wolf-hide, wolf bones and wolf hair for string to keep it together. >Team mates look at me in disbelief >"Why cant your magic just be... normal?" >I'm laughing my ass off. >After speaking to king's friend and getting a strangely heavy sack of something we agree to teleport back. >I want to try to teleport before Wizard does it for us >Wizard agrees >Barbarian prepares himself. >SPIN DA WHEEEEEEL >Sparks of electric energy surge around my fingertips as a lightning bolt shoots out of my hand perfectly searing a nearby squirrel. >Barbarian's mouth is watering. >FreeSnack.disgusting >Wizard teleports us in to king's throne room >King is getting served by a large number of exotic dancers >Shouts at us to get away while covering himself >I want in on this and i try to turn invisible >MTGINMEGIMIMGM WHEEEL!!! >I get covered in magic armor as we walk out of the throne room. >Guards uneasy since i just summoned armor >Wizard clarifies "This gal has some serious magic-problems, don't worry about it" >I demonstrate that my magic is perfectly fine by making fireworks in the air above me >SPEEEEN THE FHECKING WHEEL!. >Some sparkles happen as all the guards agree with me that my magic is indeed normal and that there is no problem with me using magical armor in the throne room. >Huh, that worked well. >After drinking us dumb at a tavern there is a karaoke competition. >I get memories of my idol Sips the wild magic monkey. >Do a half-decent job at singing and decide to end on doing some sparkles just like i did in front of the guards like my idol did in a story I've heard. >Forgot what happened with Sips after that. >Magic goes wild. >A decorative skull starts singing along with me >HELL YEAH!! >Totally smash the competition with my now permanent follower, The talking skull. (Begged DM to keep him) >Wizard so amazed he buys a custom-made bag to hold the skull >The bag of skulling. >He also buys a bag of holding and a bag of colding. >This way we can loot more and eat better food! >Used up all our money in the process. >We sleep away the night. >I can't remember anything that happened the previous night. >See a talking skull in a stylish bag next to me >"HEY! Woman, i never got ya name! I usually ask women their names before sleeping with them!" >Tell skull my name is "REDACTED" >"WOAH, honey, that's a mouthful. How about i call you Cutey-pie?" >Skull is a smooth talker. "Sure" i tell him. >Enter king's throne room >King excuses himself for the day before. >Gives us a bonus on the quest to keep us quiet about it. >Skull starts talking >"Hey cutey-pie! something close here smells fucky" >Wizard seems interested by this >Secretly cast "Detect Magic" as king is distracted by the talking skull. >King's clothing is magical. No surprises there >Golden throne is magical >Hmmm >Wizard whispers to me >"Cause a distraction, nothing too big please" >SPIN THE WHEEEEEELLL! >Everyone in the room starts dancing >Wizard shouting at me while dancing >"I SAID NOTHING TOO BIG, JESUS CHRIST" >King having a great time >Guards dancing disco. >Servants see the king dance and join in >Entire staff, all guards and all people in the castle start dancing with the king >Form a conga line. >Spell wears off but people are still dancing. including king since they are having great fun. >Wizard sneaks off. >Checks the throne. >Throne is cursed, causes a slow corruption of whomever sits on it. >Wizard destroy the curse, golden throne turns in to stone. >Wizard join the conga line again and parties on. >King realizes the enchantment of his throne is gone >Dang it! Call the royal Wizard! the throne stopped being shiny again! >Wizard watches as the royal Wizard comes down. >Sees him curse the throne again. >Skull whispers to me "Oi, cutey-pie, see that? that dude is sketchy AF!" >I try to dispel it. >Wizard who has a plan tries to stop me >Too late! >Nothing happens >I hear a booming voice, from everywhere at once. >"I AM THE SAGE OF JUSTICE, WHAT DO YOU ASK OF ME?" >wait wut? >I openly just say "If you could make that wizard stop being a dick, that would be nice" >Royal wizard turns around to me >"Did you say something you vile child?" >Royal wizard's head explodes >Everyone looks at me. I just commanded an unknown being to assassinate a royal wizard. >Everyone is terrified. >King shouts at guards to carefully arrest me. >I need to get away >Try to teleport away. >SPIIIIIIIIIIIIIIIIIIINNN THE WHIIIIEEELL >D10 CRITICAL FAIL! >A booming voice once again calls out >Not another bitcoin assassin.meme >"WHAT DO YOU WISH FOR?" >"I wish that we weren't here" >I appear in a small ice-covered village along with my friends. >Wack. >Realize that my magic may be a tiny bit unstable. (For anyone wondering. This is the same character only re-worked since becoming a God, while fun became a bit too... God-like)
hey. im posting this here because idk what else to do, and thought that someone out there could possibly help, or that my story could help someone avoid mistakes i've made i started playing poker professionally in mid 2017, and for a while it was pretty great. i started out grinding live 1-2 at a local casino while living at home, quickly spun up a roll, and eventually moved to one of the bigger 2-5 NL hubs in the u.s. my first month there was arguably the worst month of my life. my girlfriend of 4 years had just broken up with me, and that coincided with my biggest career downswing (almost 10k, probably had 55k at start of downswing). dealing with all of these external stressors was not easy for me. I have a history of depression, and all of these things lining up together threw me into one of the deepest holes i've been. there were days (prob less than 5) i spent 20+ hours in bed; only getting up to smoke some weed or find some shit food to eat. i took some steps to pull myself out of this zone. hired a therapist, regular exercise, attempting to eat healthier, self-help books, etc. all of this, and some run-good on the poker tables, had me back to a fully-functional (and arguably stronger) 2-5 grinder. i basically god-moded for the next 6 months or so. I prob made 45k with one or two 5-8k downswings thrown in along the way. I'd begun playing 1-2 on ignition (initially for practice/ studying, but then continued bc games were good my hourly there was comparable to my hourly grinding live 2-5) and consequently got my hands on some bitcoin. i was already somewhat familiar with what it was and was generally bullish (still am) so figured i'd hold on to a couple of the fuckers since the roll was so healthy and it seemed like a decent mid-long term investment. well, what fucking timing this turned out to be, as price soared from 4k to rougly 8k by end of may. it was around this time that i think my success began to go to my head a bit. i mean, not that i had done anything particularly grand, but i def had a somewhat constant euphoric buzz going on basically around the clock. I was 25, had over 100k nw, had investments that seemingly were going to be worth millions in the not-so distant future (/s), and worked my dream job in which i was able to get away with whatever the fuck i wanted. "Damn, it feels good to be a gangsta," was like my life theme song, playing wherever i went. is this kind of phenomenon experienced by other pros when upswinging? it's summer now, and the dreams of shipping a tournament are abundant. i create a ~15k package, and sell about a 1/3 of myself to maintain sanity in case things go poorly (net worth >100k at this point, abi mtt is probably 1100). my lease expires at my current spot, so i'm off to vegas to bluff johnny chan or something. ...or something indeed! i cashed just 1 out of probably 12 tournaments and broke even in cash. it felt not good, but I think i had/have a better understanding as to how big variance is (especially in mtts) relative to most, so I was pretty ok with this. not to mention, btc had topped at 14k, which def made dealing with the negative mtt variance a bit easier. the highlight of my wsop was day 1 of the main event (didnt initially plan on playing, but I was able to sell 75% and it'd been a dream of mine to play since i was a kid, so fuck it, ill take a shot). my table is a joke. it is unfathomable to me that these types of players both exist AND somehow have $10k to light on fire in a poker tournament. one of my table mates felt the need to heavily exemplify the lack of fucks he gave about this $10k. the dude showed up for the tournament pretty drunk (started at 10am, LOL). first, he has this weird interaction with the dealer where he sits down in seat 5 and dealer tells him he's in the wrong seat, and to move to 6. it takes the guy an abnormal amount of time to understand, but eventually he figures it out and moves over. ok, let's run it. few hands go by and the drunk guy scoops a small pot (probably less than 1k chips and we started with 50k). the seat next to him is unoccupied but there is a stack in front of the seat that is blinding out. as drunk guy scoops his pot, he "accidentally" scoops the chips next to him, in what appeared to either be an extremely slick (/s) attempt to find an early double, or an attempt at a bad joke. imo, it was most likely either a poorly timed joke or the dude was just so fucked up that he just didn't realize what he was doing, but we will never know for sure. either way, jack effel promptly dq'd the guy, which i think was absolutely too harsh. i still regret not jumping to this guy's defense, as i really doubt there were any truly ill intentions behind his actions. one more quick highlight from my day 1 : i mentioned my table being a dream, and it was, with the exception of one player. a former main event champ, joe mckeehen. i didn't know much about him prior to this except that he was a part of chance's Chip Leader Coaching team, which made me think he was prob a beast. and i was right... the guy undoubtedly had an edge on me (and ofc rest of table) and both played and carried himself extremely well. i played one hand vs him that was noteworthy, particularly because of what he said to me afterwords. cant remember exact sizing's so bear with me: joe opens hj 2.2x, button call, i call bb with td8h. flop: q67r. i check, joe cbet 1/3 pot, button fold, i call. turn: 4x (i think i could do some leading on this card since i improve to straights and 2p at higher frequency than joe, but who tf am i to just lead into the former champ??) i check, joe bets 2/3. i think x/c and x/r are both fine, but decide on x/r this time. sizing was something where i'd set myself up for 80-90% jam on the river if he called. joe takes a few seconds, and as he's picking up his cards to throw them into the muck, says something like, "i really don't believe you, but i'm not going to call you down. don't do that again, kid." what a thing to fkn say man, absolutely legendary. he folds. i think to myself, "i've bluffed the champ! call me mike mcd mother fkers." in all seriousness though, he obv did pick up on some sort of live read, but even with whatever that was, i think over-folding a high-variance, bluff-catching spot vs the only other competent player at the table makes a lot of sense given this is day 1 of the main event and our table is a complete and total joke. wp joe, and thank you for the story. a true legened, imo. anyway.. fast forward to day 3 of the main and i'm out a few hours before making the money. talk about maximum pain, man. i felt i'd basically avoided any real feelings of tilt/ disappointment prior to this despite a pretty brutal summer, but busting the main was a scratch on the surface of the negative emotions/ tilt i'd buried during the bad downswing i had after my initial move away from home. the roll is still healthy. the price of btc is falling, but my nw is still around 95k. even though i still have plenty of money and am well-rolled for the main game i want to play (1500 cap 5/t), i have this weird psychological block where it feels like i dont have enough. i think i began to feel this more so when i dipped below 100k. it's like my brain has this weird obsession or belief that i need to be over 100 to be complete (i know, sounds insane, but again, im curious if others experience this kinda thing?) somewhat dejected, i head back home to spend a few weeks with the family before i head out to boston to set up a new home-base. fast forward to now: i've been renting a room at an air bnb for a little over a month. i'm breakeven over my last 700 hours of live poker (about 175 of those are me losing ~15k at mtt's). i've played about 135 hours of 5-t since moving to boston and an stuck about 6k. pretty normal i think. btc price back down to 8k though, so that + life expenses has brought the networth down to about 85k (70k liquid). i know, i know... plenty of money, even for playing 5-t. but holy fuck man, it does not feel that way. i feel like i did a year and a half ago when i first moved to the 2-5 hub and was dealing with downswing + major breakup. it's quite difficult to even get out of bed and take a shower. forget getting my ass down to the casino and actually putting in some volume in the volatility-chamber. it simply doesnt feel possible. it feels especially risky. like i want to avoid even giving myself the chance to book another losing session because i know how much it'd hurt. do other pros deal with shit like this? if so, what kinds of techniques do you use to combat these feelings? is there a way i can trick my brain into thinking more rationally? idk how i feel about actually posting this shit. i'm pretty self-concision in general. i will say that writing this out has been therapeutic in some way, and i do feel a bit better. maybe tomorrow will try and do a low-volatility online session. going to try to get outside and get some sun while i still can today. enjoy the spew/ wsop main event weirdness
Bitcoin is an accidental decentralized financial incentive that burns up 0.3% of the world's electricity. Its proof of work system is a mechanism designed to solve the double-spending problem and encourage a broad distribution of new supply and hardly achieves either goal. So, a few years later came Gridcoin, which proved that it's possible to take the cryptocurrency concept and create an intentional financial incentive for the devotion of processing power to scientific research. This succeeded and currently we have a reward of a few hundred dollar per day worth of coins, distributed evenly across a subset of participants in BOINC. Not long after Gridcoin we saw Solarcoin, which takes the same idea, but has a centralized institute that distributes the token to people who participate. Gridcoin is not a fluke, as evidenced by the existence of foldingcoin and curecoin. Apparently you can create a token, decide rules on what sort of stuff you need to do to earn it and the system becomes a self-sustaining economic incentive for the sort of behavior it seeks to reward. This is fascinating from an economic perspective and I won't be the first to point out that the success of cryptocurrency so far has flown in the face of quite a few untested assumptions that were taken for granted in economic circles. The thing I'm wondering here is: Why stop here? The idea I have been entertaining in my head is if you can take the concept of a Proof of Stake cryptocurrency and create an innate mechanism that distributes new tokens to projects that effectively serve to sequester carbon dioxide. The distribution of new tokens would ideally be decided by voting of existing stakeholders, not unlike how in Gridcoin we can all vote on which BOINC projects we believe deserve to be whitelisted. I think this would be profoundly useful, because there are broad similarities between the market failure Gridcoin addresses and the market failure of greenhouse gas sequestration. We all ultimately benefit from the fact that people use their computer for BOINC, but until Gridcoin we had no mechanism that rewards people for their activity. Similarly, we all need other people to work on sequestering carbon dioxide, but the people who wish to do such a thing can't do so, because they have no economic incentive to do so. My idea depends on one big assumption of course, which is that Gridcoin and coins like Gridcoin are not just speculative bubbles, but as of yet under-the-radar economic phenomena, in the same sense as Bitcoin remained under the radar for years. The thing that leaves me optimistic however, is the bizarre emergent economic incentive created by Bitcoin. An anonymous guy can write some code, publish it on the Internet and a few years later, governments are forced to intervene and invent new laws because the accidental economic incentive enshrined in the code has gobbled up 0.3% of the world's electricity supply. If such a bizarre economic incentive can emerge effectively by accident, surely when we actually properly plan all of this through, the sky must be the limit?
**Last updated: May 30, 2018: Updated wallet info with release of Trinity. This 4 part series from the IOTA foundation covers most of the technical FUD centered at IOTA. https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2 Also the official IOTA faq on iota.org answers nearly all of these questions if you want to hear the answers directly. Purpose of Writing Since posting FUD is so ridiculously low-effort in comparison to setting the record straight, I felt it necessary to put a log of copy-pastas together to balance the scales so its just as easy to answer the FUD as it was to generate it. So next time you hear someone say "IOTA is centralized", you no longer have to take an hour out of your day and spin your wheels with someone who likely had an agenda to begin with. You just copy-paste away and move on. It's also worth mentioning IOTA devs are too damn busy working on the protocol and doing their job to answer FUD. So I felt a semblance of responsibility. Here they are. These answers are too my understanding so if you see something that doesn't look right let me know! They are divided into the following categories so if you are interested in a specific aspect of IOTA you can scroll to that section. 1) WALLET 2) COMMUNITY 3) INVESTING 4) TECHNICAL
IOTA was hacked and users funds were stolen!
First, IOTA was not hacked. The term “hacked” is thrown around way too brazingly nowadays and often used to describe events that weren’t hacks to begin with. Its a symptom of this space growing way too fast creating situations of the blind leading the blind and causing hysteria. What happened: Many IOTA users trusted a certain 3rd party website to create their seed for their wallets. This website silently sent copies of all the seeds generated to an email address and waited till it felt it had enough funds, then it took everyones money simultaneously. That was the ”hack”. https://blog.iota.org/the-secret-to-security-is-secrecy-d32b5b7f25ef The lesson: The absolute #1 marketed feature of crypto is that you are your own bank. Of everything that is common knowledge about crypto, this is at the top. But being your own bank means you are responsible for the security of your own funds. There is no safety net or centralized system in place that is going to bail you out. For those that don’t know (and you really should if you’ve invested in anything crypto), your seed is your username-pw-security question-backup email all rolled into one. Would you trust a no-name 3rd party website to produce your username+pw for your bank account? Because thats essentially what users did. The fix: Make your seed offline with the generators in the sidebar or use dice. This is outlined in the “how to generate wallet and seed” directly following. The trinity and carriota wallets will have seed generators within them upon their release.
How to generate wallet and seed
1) Download official trinity wallet here 2) follow the instructions on the app. 3) Do not run any apps in conjunction with the trinity app. Make sure all other apps are completely closed out on your device.
Are you sure a computer can’t just guess my seed?
An IOTA seed is 81 characters long. There are more IOTA seed combinations than atoms in the universe. All the computers in the world combined would take millions billions of years just to find your randomly generated one that’s located somewhere between the 0th and the 2781st combination. The chance for someone to randomly generate the exact same seed as yours is 1 / (2781). If you can’t fathom the number 27 ^ 81, this video should help: https://www.youtube.com/watch?v=p8YIdmwcubc
Download Bolero and run! Bolero is an all-in-one full node install package with the latest IOTA IRI and Nelson all under a one-click install! https://github.com/SemkoDev/bolero.fun/releases "If you want to help the network then spam the network. If you really want to help the network then create a full node and let others spam you!"
No questions or concerns get upvoted, only downvoted!
That’s just the nature of this business. Everyone in these communities has money at stake and are extremely incentivized to keep only positive news at the top of the front page. There is nothing you're going to do about that on this subreddit or any crypto subreddit. It's just a reddit fact of life we have to deal with. Everyone has a downvote and everyone has an upvote. But what can be done is just simply answer the questions even if they are downvoted to hell. Yea most people wont' see the answers or discussion but that one person will. every little bit counts. I will say that there are most certainly answers to nearly every FUD topic out there. Every single one. A lot of the posts I'm seeing as of late especially since the price spike are rehashed from months ago. They are often not answered not because there isn't an answeexplanation, but because regulars who have the answers simply don't see them (for the reason listed above). I can see how it's easy for this to be interpreted (especially by new users) as there not being an answer or "the FUDsters are on to something" but thats just not the case.
IOTA Devs do not respond appropriately to criticism
When critiquers provide feedback that is ACTUALLY useful to the devs, then sure they'll be glad to hear it. So far not once has an outside dev brought up something that the IOTA devs found useful. Every single time it ends up being something that was already taken into consideration with the design and if the critiquer did an ounce of research they would know that. Thus you often find the IOTA devs dismissing their opinion as FUD and responding with hostility because all their critique is really doing is sending the message to their supporters that they are not supposed to like IOTA anymore. Nick Johnson was a perfect example of this. The Ethereum community was co-existing [peacefully]with IOTA’s community (as they do with nearly all alt coins) until Nick wrote his infamous article. Then almost overnight Ethereum decided it didn’t like IOTA anymore and we’ve been dealing with that shit since. As of today, add LTC to that list with Charlie’s (even admitting) ignorant judgement of IOTA. 12/17/2017: Add John McAfee (bitcoin cash) and Peter Todd (bitcoin) to the list of public figures who have posted ignorantly on IOTA.
A lot of crypto communities certainly like to hate on IOTA...
IOTA is disrupting the disrupters. It invented a completely new distributed ledger infrastructure (the tangle) that replaces the blockchain and solves all of its fundamental problems (namely fees and scaling). To give you an idea of this significance, 99% of the cryptocurrencies that exist are built on a block chain. These projects have billions of dollars invested into them meaning everyone in their communities are incentivized to see IOTA fail and spread as much FUD about it as possible. This includes well known organizations, public figures, and brands. Everyone commenting in these subreddits and crypto communities have their own personal money at stake and skin in the game. Misinformation campaigns, paid reddit posters, upvote/downvote bots, and corrupt moderators are all very real in this space.
All IOTAs that will ever exist were sold at the ICO in 2015. There was no % reserved for development. Devs had to buy in with their personal money. Community donated back 5% of all IOTA so the IOTA foundation could be setup.
No inflation schedule? No additional coins? How is this sustainable?
Interestingly enough, IOTA is actually the only crypto that does not run into any problems with a currency cap and deflationaryism. Because there are zero fees, you will always be able to pay for something for exactly what it's worth using IOTA, no matter how small the value. If by chance in the future a single iota grows so large in value that it no longer allows someone to pay for something in fractions of a penny, the foundation would just add decimal points allowing for a tenth or a hundreth or a thousandth of an iota to be transacted with. To give you some perspective, if a single IOTA equals 1 penny, IOTA would have a 27 trillion dollar market cap (100x that of Bitcoin's today)
IOTA is not for P2P, only for M2M
With the release of the trinity wallet, it's now dead simple for anyone to use IOTA funds for P2P. Try it out.
Companies technically don’t have to use the IOTA token
Yes they do Worth clarifying that 0 iota data transactions are perfectly fine and are welcomed since they still provide pow for 2 other transactions and help secure the network. In the early stages, these types of transactions will probably be what give us the tps/pow needed to remove the coordinator and allow the network defend 34% attacks organically. But... if someone does not want to sell or exchange their data for free (0 IOTA transaction), then Dominic is saying that the IOTA token must be used for that or any exchange in value on the network. This is inherently healthy for the ecosystem since it provides a neutral and non-profit middle ground that all parties/companies can trust. If one company made their own token it wouldn’t be trusted since companies are incentivized by profits and nothing is stopping them from manipulating their token to make them more money. Thus, the IOTA foundation will not partner with anyone who refuses to take this option off the table.
All these companies are going to influence IOTA development!!
These companies have no influence on the development of IOTA. They either choose to use it or they don’t.
Internet of things is cheap and will stay cheap
Internet of things is one application of IOTA and considered by many to be the 4th industrial revolution. Go do some googling. IOTA having zero fees enables M2M for the first time in history. Also, if a crypto can do M2M it sure as shit can do M2P and P2P. M2M is hard mode.
Investing in a project in its early stages was something typically reserved for wealthy individuals/organizations before ICO’s became a thing. With early investing comes much less hand holding and more responsibility on the user to know what they are doing. If you have a hard time accepting this responsibility, don’t invest and wait for the technology to get easier for you. How many people actually knew how to use and mine bitcoin in 2009 before it had all its gui infrastructure? IOTA is a tangle, the first of its kind. NOT a copy paste blockchain. As a result wallets and applications for IOTA are the first of their kind and translating the tangle into a nice clean user-friendly blockchain experience for the masses is even more taxing.
Why is the price of my coin falling?!
This may be the most asked question on any crypto subreddit but it's also the easiest to explain. The price typically falls when bad things happen to a coin or media fabricates bad news about a coin and a portion of investors take it seriously. The price increases when good things happen to a coin, such as a new exchange listing or a partnership announced etc.. The one piece that is often forgotten but trumps all these effects is something called "market forces". Market forces is what happens to your coin when another coin gets a big news hit or a group of other coins get big news hits together. For example, when IOTA data marketplace released, IOTA hit a x5 bull run in a single week. But did you notice all the other alt coins in the red? There are a LOT of traders that are looking at the space as a whole and looking to get in on ANY bull action and will sell their other coins to do so. This effect can also be compounded over a long period of time such as what we witnessed when the bitcoin fork FOMO was going on and alt coins were squeezed continuously to feed it for weeks/months. These examples really just scratch the surface of market forces but the big takeaway is that your coin or any coin will most certainly fall (or rise) in price at the result of what other coins are doing, with the most well known example being bitcoin’s correlation to every coin on the market. If you don't want to play the market-force game or don't have time for it, then you can never go wrong buying and holding. It's also important to note that there are layers of investors. There's a top layer of light-stepping investors that are a mixture of day traders and gamblers trying to jump in and jump out to make quick money then look for the next buying (or shorting) opportunity at another coin. There's a middle layer of buyers and holders who did their research, believe in the tech and placing their bets it will win out in the long run. And the bottom layer are the founders and devs that are in it till the bitter end and there to see the vision realized. When a coin goes on a bull run, always expect that any day the top layer is going to pack up and leave to the next coin. But the long game is all about that middle layer. That is the layer that will be giving the bear markets their price-drop resistance. That is why the meme "HODL" is so effective because it very elegantly simplifies this whole concept for the common joe and makes them a part of that middle layer regardless if they understand whats going on or not.
How is IOTA free and how does it scale
IOTA is an altruistic system. Proof of work is done in IOTA just like bitcoin. Only a user’s device/phone must do pow for 2 other transactions before issuing one of its own. Therefore no miners and no fees. And the network becomes faster the more transactions are posted. Because of this, spamming the network is encouraged since they provide pow for 2 other transactions and speed up the network.
IOTA is centralized
IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based in China. Furthermore, the coordinator is not a server in the dev’s basement that secretly processes all the transactions. It’s several nodes all around the globe that add milestone transactions to show the direction of the IF’s tangle within the DAG so people don’t accidentally follow a fork from a malicious actor. Anyone with the know-how can fork the tangle right now with a double-spend. But no one would follow their fork because the coordinator reveals which tangle is the legit IF one. If the coordinator wasn’t there (assuming low honest-transaction volume), there would be no way to discern which path to follow especially after the tangle diverges into forks of forks. Once throughout of honest transactions is significant enough, the “honest tangle” will replace the coordinated one and people will know which one to follow simply because it’s the biggest one in the room. Referencing the coordinator is also optional. Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon. This is another great read covering double spends on IOTA without a coordinator: www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/ This too: http://www.reddit.com/Iota/comments/7eix4a/any_iota_guru_that_can_explain_what_this_guy_is/dq5ijrm Also this correspondence with Vitalik and Come_from_Beyond https://twitter.com/DavidSonstebo/status/932510087301779456 At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.
Masked authenticated messages exist right now so data can be transferred privately. Very important for businesses.
Centralized coin mixer is out that foundation runs. Logs are kept so they can collect data and improve it Folks can copy the coin mixer code and run it themselves. Goal is for mixer to be decentralized and ran by any node.
How do nodes scale? How on earth can all that data be stored?
Full nodes store, update and verify from the last snapshot, which happens roughly every month. Its on the roadmap to make snapshotting automatic and up to each full node’s discretion.With automatic snapshots, each full node will act as a partial perma-node and choose when to snapshot its tangle data. If someone wants to keep their tangle data for several months or even years, they could just choose not to snapshot. Or if they are limited on hard drive space, they could snapshot every week. Perma-nodes would store the entire history of the tangle from the genesis. These are optional and would likely only be created by companies who wish to sell historical access of the tangle as a service or companies who heavily use the tangle for their own data and want to have quick, convenient access to their data’s history. Swarm nodes are also in development which will ease the burden on full nodes. https://blog.iota.org/iota-development-roadmap-74741f37ed01
Understanding a Bitcoin Double Spending Transaction by Performing one on yourself. Related. 8. What is the best way to recover from an accidental double-spend? 2. double spending. 2. Generated a transaction id but not seen on blockchain. 1. 100% double spending attack probability. 0. How do I double spend using electrum? 0. Double spending UTXOs. 0. double spending problem. 3. Same seed from ... The issue is double-spending and since Bitcoin XT already relays double-spends, it is a good candidate for implementing the proposed solution to double-spending of 0-confirmation transactions. Even if it's out of the scope of the current development plan it might be worth consideration for some future release. Feel free to close the issue if it is irrelevant at the moment. I just wanted to ... The only known double spend in bitcoin was around 2014 by a rogue employee within the then biggest btc mining pool, Ghash, which lasted very briefly. In Bitcoin Gold this very recent attack was far bigger in scale, with a Bitcoin Gold core developer publicly stating: “The amounts of the observed double spending transactions are from ~8000 BTG to ~12000 BTG. So each time the attacker succeeds ... Double spends don't just happen, you've had to do something wrong (like multiple copies of the wallet running simultaneously, spending the same coins at the same time). Bitcoin does not yet have a method to recover from this. Abandoning a wallet showing a double spend by forwarding the funds to a new wallet is still possible and resolves the issue. If merely a small number of people do it, it just makes the system unreliable, untrustworthy and pushes people towards centralised fixes like payment processors that levy higher fees, trusted third parties that prevent double spending, secure hardware, etc. All things that increase Bitcoin's costs and reduce its competitiveness vs regular banking. Doing this doesn't help anyone or prove any ...
How can double spending affect your walle... Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue. Watch Queue Queue. Remove all; Disconnect; The next ... What is double-spending? Can someone duplicate my Bitcoins? Watch this video for more information and visit https://coiner.co.za/ This tool allows you to generate two transactions using the same Bitcoins. ... Does Bitcoin Solve The Double Spending Problem? - Duration: 3:15. Biz Vlogs 1,338 views. 3:15. How Bitcoin Works in 5 ... In this video I show you how to execute a double-spend using the node policy First-Seen-Safe Replace-By-Fee. My Book: https://www.amazon.com/Building-Bitcoin... In diesem Tutorial behandeln wir das Double-Spend-Problem. Früherer Zugang zu Tutorials, Abstimmungen, Live-Events und Downloads https://www.patr...