Biggest free Bitcoin / Dogecoin / Litecoin / DASH faucets ...

Some informative responses from Colin and Andy from the just-concluded Nano AMA at the Atomic Wallet Telegram group

The AMA ran today from 13:00 - 14:20 UTC, with Colin and Andy. I've copied over some of their responses that I found give me better insight into Nano. Their responses are in italics. Responses to different questions are separated by double spaces. Colin's responses are listed first, followed by Andy's. Sorry I couldn't copy over the questions as well. I've added my comments in places.
From Colin:
PoW coins have done a good marketing that the energy expenditure makes your coins more secure but it’s really unnecessory. PoW coins need to continue expending work because if they stop, their security parameter erodes.
Nano has no such problem, once an election for a transaction is complete, it’s confirmed. If it sits there it stays confirmed and it doesn’t need any extra effort. Wow, put that way, Bitcoin seems unsustainable in the long term when there is an alternative like Nano.

Yes the circulating supply is forever like this. The reason it can’t change is because nano transactions can only send your current balance or less to someone else, this means new coins can never be injected in to the system. Interesting design reason new Nano can't be minted.

Volatility is a focus with all cryptocurrencies and it comes from low volume, it’s not intrinsic to cryptocurrency itself. To cure low volume our focus is integrating it in to parts of the economy where it solves a problem, rather than just emulating credit cards etc.
Not having fees in the network puts us in a very good position for buying beer, for example. Typically credit card providers will charge 2-5% for a purchase, maybe even more, and it tight margin businesses that make 2-5% profit anyway, this is huge. A lot of Reddit discussion on crypto adoption considers only user experience and overlooks benefits to merchants.

Nano is purpose built to be the fastest and most decentralized currency around. Our transactions settle in less than 1 second and it’s all done on a network with no fees, and a tiny environmental footprint
Decentralization is an essential focus for us, many other cryptocurrencies can get fast or low cost, but they can’t also maintain decentralization which I think we do very well.
Well the sustainability comes from 2 main parts. We have a laser sharp focus on being the most efficient currency. This means our development stays focused and eventually the amount of things going in to the code base will trend downward; once we’ve achieved the goal we just have to make things more efficient.
The second part of sustainability is our Open Representative Voting which is our replacement for PoW mining. We saw the energy expenditure as something that would come in conflict with any system that would attain high adoption so our goal was to get the same or better decentralization benefits and also have a low energy footprint. We think we achieved that goal as our representatives are all over the world under many different organizations. A healthy decentralized representative set is good for long term sustainability.

And on the simplicity, nano is probably one of the easiest cryptocurrencies to use. There are no fees to calculate, the UX impact of entering a fee is greatly understated. How much should the fee be? Does my grandma know what network load is? What does it mean with respect to fee?
Nano simply has accounts and balances, you send and it lands in their wallet in less than a second, nothing can be simpler.

We’re not looking to expand in to defi right now. I have some reservations about it’s viability. One thing I’ve noticed in my many years of seeing technology evolution is to not try and change 2 things at once. We don’t want to simultaneously change the currency people use and also change how finances are done. First change the currency, then change the finances.
I think Libra suffers from a market mis-assesment. Essentially what they’re claiming is be a multi-currency bank account for every facebook user. Getting users electronic bank accounts isn’t a technology problem, it’s a regulatory and logistics problem. Since Facebook is essentially being a bank for people, they’re going to be required to comply with KYC requirements. Sending/receiving isn’t going to be open as it is in cryptocurrency because of AML requirements. People are not going to have access to the system in remote areas because how do they deposit or more importantly withdraw local currency from their Libra accounts.
I think privacy is a big concern with our transactions and credit card purchases and it’s only getting worse. Letting Facebook/Libra know all your purchase history I think is a huge mistake.
I think it also doesn’t fundamentally solve the central banking problem where they can print more money and inflate the currency supply. I see this behavior as a fundamentally unethical thing that cryptocurrency solves and Libra is taking a huge step back on that.
I don’t see anything compelling about it and I don’t see long term viability.

I think disk usage is going to be a low concern long term. The goal with Nano is to be a widely used commercial grade currency so the representatives will be banks and other financial institutions, universities, and tech companies. Considering how much youtube, instagram, and other social media data is created each day, I don’t think the ledger size will be a long-term limiting factor. Looks like the role of hobbyists in running nodes will diminish with widening adoption.

Nano’s value is being the fastest, most efficient currency around. Entreprenuers make use of natural market incentives / natural efficiencies to make money on a business.
Cryptocurrency has distorted that term a bit with something more closely resembling subsidies. The transaction fees and block rewards are subsidizing the security parameter and processing prioritization. PoW chains need this subsidy because their security parameter costs a lot. Additionally we’ve seen miners work to limit the network’s throughput in order to rent-seek on the limited transaction space. Damn, talk about unaligned incentives between users and miners.
The people we’re looking for are the entreprenuers that know how to make use of a faster, lower cost currency.

Yes, having a fixed supply is an essential component of currency. If people can add more currency to the system, they’re taking value away from everyone else in that process. It’s unfair and unethical.
1 Nano actually can be divided down very small so there’s no risk of not having enough coins.

In this response, Colin is addressing a question about Steem and other dPoS systems. One major difference with Nano consensus is: having more Nano does not get you more Nano, there are no rewards for holding Nano. Holding nano doesn’t give people voting privledges on network changes, or any other centralizing component associated with holding.
Another big difference is voting in nano does not produce blocks, it chooses between conflicting blocks that a user publishes. If you don’t attempt to double-spend, your transactions cannot be voted against.

From Andy:
1. The faucet did indeed seed Nano's amazing international communities, and the contributions from around the world to the project have been unbelievable over that last 2.5 years. Communities are still active, engaged and building 💪
2. The effects of Nano being added to the Atomic Wallet (and other multi-currency wallets) is two fold. It increases the accessibility and convenience of storing Nano alongside other coins and also helps to disperse voting weight across a wider spread of representatives - increasing decentralization!

We certainly feel that Nano possesses far and away the best fundamentals, democratic approach to decentralization, and user experience.
Being fully distributed and operating on a the mainnet since 2015 is also very important, and puts Nano way ahead of many other projects making bold claims about future potential.
Nano is here today, and works as one would expect the digital money would!

Privacy is an attractive proposition to users of digital money for obvious reasons, it can be very important. Our position towards privacy is more conservative as we have seen many more hurdles to mainstream adoption being put in front of privacy-based projects.
With that being said, there are eyes towards the technical implications of introducing privacy, but it is extremely difficult to do this without incurring slowdowns to settlement times.
Throughout 2019 we were able to make significant progress in helping some of the more well-established cryptocurrency services such as exchanges, fiat gateways, payment platforms, and wallets- like Atomic 😄, to understand and integrate Nano. This proliferation of Nano across the space has ensured that it is increasingly more convenient for users and merchants to access and begin using Nano for payments.
submitted by Live_Magnetic_Air to nanocurrency [link] [comments]

Best Bitcoin Faucets

Best Bitcoin Faucets
Bitcoin faucets are websites or applications that offer you a small amount of bitcoin as a reward for making easy tasks. Depending on the selected faucet, users can earn coins for completing various tasks, such as viewing certain websites, watching ads, entering a captcha, or playing a game.
by StealthEX
At the beginning of the cryptocurrency’s existence, when the stakes were not so high, the creators of faucets gave 5 bitcoins for each claim — back then it was their way to promote digital money among newcomers. Now faucets operate with much smaller amounts and give out some part of the Bitcoin, which is measured in Satoshi(named after the creator of Bitcoin). Satoshi is the smallest possible fractional number of Bitcoin — one BTC is equal to 100 million Satoshi.
If you have ever left a water tap not completely closed, you probably noticed that water was dripping into it, and if you put a bowl under it, sooner or later it will be filled. Even though one-time payments on faucets are scanty, many advise not to neglect the opportunity to earn on them, because, with the right approach, faucets can bring a tangible profit with a minimum of effort.
There are plenty of sites offering free bitcoins. Unfortunately, most of them are not trustworthy, do not live long, or are simply overflowed with annoying flashing ads. However, there are some that work for many years, used by thousands of users and considered reliable.
Here is the list of them:

Freebitcoin

This faucet is probably the most well-known one. It was created in 2013 on the territory of the British Virgin Islands. Payouts are not fixed and vary for each claim. You can get cryptocurrency every hour, and for each claim you get from 0.00000030 to 0.03 BTC. In addition to the faucet, Freebitcoin allows you to earn in other ways — save interest on your deposit, play the lottery, invite new users via referral links.
It supports several withdrawal methods: you can set up automatic withdrawal every Sunday, slow withdrawal every 6–24 hours, or use the fastest instant withdrawal that takes 15 minutes. The last one, of course, has the highest fee.

Moon Bitcoin

Founded in 2015, the Moon Bitcoin has a certain user base and is considered by many to be one of the best faucets in existence.
There are many appealing bonus offers. For example, the site gives you a reward for consistency — if you enter a captcha at least once every day, you will accumulate a bonus +1% to earnings daily. Like most other faucets, Moon Bitcoin offers a bonus for bringing new users.
Earned funds are instantly transferred to the linked Coinpot wallet. The minimum withdrawal amount is 10,000 Satoshi if you agree to pay the fee. Or wait until it’s going to be over 50,000 Satoshi on your account and withdrawal money for free. It is worth saying that Coinpot has its own bonus program. For example, for one captcha entry, you get 3 Coinpot tokens that can also be converted to cryptocurrency.
There are also Moon faucets for Litecoin, Dash, Bitcoin Cash and DogeCoin. All payments are concentrated in one Coinpot account.

Bonus Bitcoin

Bonus Bitcoin is one of the oldest services and is considered one of the best bitcoin faucets. You can request a new portion of free coins every 15 minutes, getting an average of 10 Satoshi per claim. You can also gain more coins completing tasks in the offers and surveys section.
Users who regularly stay active for a number of days receive an additional 5% of their daily rewards. The site also gives 50% of all fees of users you invited using referral links.
Bonus Bitcoin accounts are also connected to Coinpot, a micro-earnings wallet that accumulates your payouts. The site also provides the opportunity to earn Litecoin and Dogecoin.

Bitfun

This is one more faucet associated with Coinpot wallet. Bitfun started its work in January 2017. In addition to the faucet itself, which allows you to request free Satoshi every 3 minutes, the site has a large number of browser games of various genres. Progress in these games gives you additional earnings. You can also earn coins by completing offers.
As with Bonus Bitcoin, the user receives 50% of the fees of their referrals.

Cointiply

The service was launched in 2018 and has become known as one of the best free bitcoin generators. There are several ways to claim Satoshi. In addition to the faucet, you can also earn bitcoins by watching videos, clicking on ads, and playing browser games.
Here you can make claims once every 12 hours and get a certain number of Coins to your account. Coins are the inner currency of this service, 10000 Coins worth 1$. It converted to Satoshi at the time of withdrawal.
Rewards can be collected at FaucetHub, another web wallet for micropayments, in this case, the withdrawal limit is 35,000 Coins. For amounts over 100,000 Coins, withdrawals can be made directly to your bitcoin wallet. Or you can keep Coins at the site and earn 5% interest.
Users can earn a loyalty bonus, by claiming rewards every day. Bringing another user via referral link gives you 25% of their claims and 10% of their offer earnings.

Pentafaucet

PentaFaucet is one of the oldest and most stable bitcoin faucets today. The main difference from similar websites is that the site uses double protection: captcha and anti-bot. You can collect from 5 to 25 Satoshi every 5 minutes. A reasonable amount of advertising and a simple interface make working with the faucet comfortable.
The faucet does not allow you to earn money from games, surveys, and other sponsorship services. In addition to the main method, it offers only a referral program, giving 10% from earnings of each new user.
Earned Satoshi are instantly transferred to the FaucetHub wallet. You can withdraw your funds from FaucetHub to your bitcoin wallet once a week on Sundays.

FireFaucet

FireFaucet is a multi-currency automatic faucet, perhaps the best of its kind. This resource allows you to earn 9 cryptocurrencies at the same time, as well as instantly withdraw the accumulated funds to the Faucet Hub.
The Auto Claim function allows for collecting currency automatically. You can change the number of currencies to get and the time between collections.
FireFaucet affords many different ways to earn money: in addition to the faucet itself, there are also offers, a referral system that gives 20% from newcomer’s income, and browser mining. FireFaucet also has its own unique level system: getting XP for various actions on the site and raising their level, users receive a reward in Satoshi.
As a pleasant addition, FireFaucet has a nice-looking design and does not use pop-up ads.

DailyFreeBits

This bitcoin faucet does not require registration. All you need is the public address of your BTC wallet. Users can claim Satoshi every hour, getting from 5 to 1200 each time.
At the moment DailyFreeBits is using the FaucetHub wallet we are already familiar with. The resource offers a referral reward. By inviting new users to the website, you can regularly receive 10% of their earnings.
These are probably the best bitcoin faucets at this point. Do not expect that you will earn loads of money just using faucets, but it is with no doubt an interesting and easy way to get a certain portion of free Satoshi and learn how the cryptocurrency and various wallets work.
Always be careful and study every site that is claimed to be a Bitcoin faucet with some scepticism. Always be critical of your choice and read reviews.
Original article was posted on https://stealthex.io/blog/2020/05/28/best-bitcoin-faucets/
submitted by Stealthex_io to u/Stealthex_io [link] [comments]

Minnesota Cryptocurrency Q&A with Nano Founder Colin LeMahieu [Text Summary]

Hello all! Here are my notes from the livestream.
Overview
Mission
History
Reason for CAPTCHA faucet
Design & Architecture
Proof of Work
Anatomy of a Block
Delegated Proof of Stake & Representatives
Consensus
Key features from 2018
What's next for Nano? v19
Future versions

Q&A

Is pruning currently available?
Is Proof of Work necessary for users to vote?
Does vote weight allocation require a transaction?
What attack vectors does Nano have?
Do you have more exchanges you plan to be listed on?
How did you determine the level of PoW needed to prevent spam?
Do you currently have a system where you scale PoW to transaction size?
Can you send to multiple recipients at once with Nano?
What prevents bad actors from using their vote power maliciously?
How can rep keep the correctness of the network when transactions move so fast?
In a 51% attack, could a malicious actor prevent rep changes?
In PoW like BTC, 51% attacks require sustained resources, but not in Nano?
Has their been any research around Nano's DPoS consensus system?
What inspired you to start Nano?
Can Nano add smart contracts to the protocol?
How many developers does Nano have & what's the developer fund?
Are there any plans to add privacy to Nano?
What's deal with your FinTech startup?
Could Nano continue if something happened to you (Colin)?
Does Nano support multisig?
Is Nano working on integrations with other companies?
submitted by Qwahzi to nanocurrency [link] [comments]

Coin-a-Year: Raiblocks

Howdy, folks! ♫Welcome back to the show that never ends!♫
I've decided it's high time I did a Coin-a-Year on Raiblocks. This is a special feature I do to recycle old material revisit past coins I've covered of special note a year or more later. I originally posted my Coin-a-Day feature about Raiblocks on this subreddit March 7th, 2016; it didn't get much attention then, but I have a strange feeling people might be slightly interested to see the difference now.
Below is the original report. I'll strike out what is wrong now, and add [bracketed notes] for updated commentary.
I'm no expert on the current state of Rai by any means. I'd honestly thought the coin was dead later in 2016; just didn't check back into it. And now here we are.
Bias note: I got a significant bit of Rai from the original faucet. I have sold a fraction of that this year but still have a lot of it. I'm biased both by holding it and from selling it.
Hello, y'all! I saw a comment pointing to this coin as being designed for free transactions, which is a core interest to me, so I decided to look into it a little bit and do a write-up. Enjoy!
Summary
Today's coin is Raiblocks (RAIXRB), which are designed to support free transactions and no block rewards. The coins will be initially distributed by a CAPTCHA controlled faucet with an annual halving rate.
[Faucet now closed.]
Initial creation: October 15th, 2015 [1]
Coin supply: 4.8 x 1012 rai current supply in circulation; 3.4 x 1014 rai maximum supply [2]
[XRB is the new standard base unit which was Mrai before (and still I suppose). Also, supply is distributed. So we now have about 133 million XRB as the outstanding and max supply.]
All-time high: Not yet traded as far as I know. [3]
[About $37.5 or 0.0028 per CMC max so far, about two days ago]
Current price: Not yet traded as far as I know. [3]
[Depending on the exchange and moment, somewhere around $30-35 currently or about 0.002-0.0022 BTC]
Current market cap: Not yet traded as far as I know. [3]
[Somewhere around $4 billion]
Block rate (average): Unlimited [4]
Transaction rate: ? [5]
[I'm too lazy to find this right now. Maybe someone will chime in with it in the comments.]
Transaction limit (currently): None [6]
Transaction cost: Free [7]
Rich list: ? [8]
[https://raiblocks.net/page/frontiers.php - Top 100 own ~63%]
Exchanges: None yet. [3]
[Bitgrail and Mercatox have been the two main. Kucoin just added it and Binance has it in its voting which is ending shortly.]
Processing method: Proof-of-stake [9]
[Above refers I believe to dispute resolution (double spend). There's also a minor PoW for send/receive.]
Distribution method: Faucet [10]
Community: New-born [11]
[Fairly strong and growing. Good memes. Slightly drunk on euphoria currently.]
Code/development: Active development at https://github.com/clemahieu/raiblocks
Leadership: Colin LeMahieu
Innovation or special feature: Protocol designed without a limited throughput or block rate, as well as not supporting block rewards nor transaction fees.
Description
Raiblocks is, as far as I know, the first cryptocurrency designed from its start to not support any block reward or transaction fee. In addition, it has no block size or rate limit. Further, all coins will be initially distributed through a captcha-controlled faucet on the main site. It's a bold attempt, going against the conventional wisdom of what is possible.
Edit: I should mention a couple things. First, there is a PoW attached to transactions as an anti-spam defense. This PoW can be attached by the recipient rather than the sender as well, which means that large automated sends could be done without the PoW if needed and the recipient could attach that.
Also, the natural question coming from how all the rest of the cryptocurrencies work is "how does it work without an incentive to run a node?" The idea presented in the whitepaper is basically that operating a cryptocurrency has a lot of expenses, and most of them are paid "out-of-band", so why not have funding nodes be that way too? It leaves it open to whatever other incentives there may be, of which the most obvious are first: that there are only full nodes so far, so if one wants to use the coin, then one is going to run a node. More long-term, even after SPV, presumably large holders might choose to operate one regardless. Someday, if merchants accept it, they would presumably run one. And enthusiasts. It sounds very tenuous, and this is why this is such an audacious attempt in my opinion.
After six months running, the number I heard for the blockchain size was about 20 MB, which is insanely small, but the coin has gotten so little attention that I suspect there hasn't been significant load yet. I'm very curious to see how it will perform under load. I think its design actually makes it more efficient when there aren't transactions, because nothing is added to the blockchain (actually termed block lattice here, but using blockchain generically to refer to any cryptocurrency's core data), unlike in the conventional / Bitcoin model where blocks are being generated whether or not there are transactions in them. Of course that doesn't matter much when there are tons of transactions, as on Bitcoin currently, but, for instance, in Nyancoin, we accumulate tons of empty blocks all the time, where Raiblocks would just wait for more transactions. However, again, under load perhaps it could start growing "too quickly" by some metric, or eventually reach the point where it starts losing users because of the requirements of running a full node.
I think it will be very interesting to see how this turns out in practice.
[And it's certainly going to be interesting to see how it goes. So far, it's still working. Which is better than I'd hoped or expected.]
Community
The coin is relatively young but even for a young coin it's not a huge community. But there is clear discussion and interest both on BCT and on their Google Group. It looks like a healthy start to me.
[As per my comment above: Fairly strong and growing. Good memes. Slightly drunk on euphoria currently. Seems well-intentioned generally: looking to try to have some caution mixed in and putting up a bug bounty and that sort of thing. Still has a little bit of some of the common negative characteristics in crypto communities but this may be due to growth from outside communities overwhelming the local culture temporarily more than anything.]
Footnotes
[1] https://bitcointalk.org/index.php?topic=1208830.0 - Initial announcement, didn't get much attention apparently. Also, this thread mentions a built-in block-explorer with a rich list. I don't have a working client to access this at the moment but that's pretty cool.
[2] There are 2128 total units, and a rai is 1024 total units, so total supply should be about 3.4 x 1014. https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining Distribution has been going since about November 2015, so I would expect about one-third of the initial 50% to be distributed. The block explorer seems pretty primitive; it just takes a hash. No overall stats. So I'll use that one-third of the initial 50% estimate. So about 5.7 x 1013. Note by comparison that the faucet gives 108 coins at a time currently.
Actually, this comment puts the amount of rai in circulation as 4,763,023...that can't be right, that many Mrai I think? Yeah, 1030 stated as divider there. So 4.8 x 1012 rai in current circulation.
[3] https://groups.google.com/forum/#!topic/raiblocks/PSbX_onjLfU - This topic discusses it a bit. Also comments from meor in this thread
However, I have also paid 100 NYAN for 100 Mrai. This is basically a test transaction, but 1 NYAN for 1 Mrai (106 rai) would imply a marketcap of 4.8 million NYAN, or about 0.34 BTC in current circulation. I had initially thought this was higher before recalculating with the actual amount circulating as per [2]; may also have screwed up the math initially or here.
[4] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - whitepaper ; each transaction could be thought of as its own block if I am grokking this right. It goes through as fast as the network can handle it. There is no fixed interval or period.
[5] I believe https://raiblocks.net/#/block-explorer is the only block explorer so far and it only supports entering a hash, so I don't have a way to determine the transactions in the last 24 hours.
[6] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - The protocol is designed without a limit if I understand correctly.
[7] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - The protocol is designed without transaction fees or block rewards.
[8] As per [5], the block explorer does not support this. There area couple addresses known to be the initial generation which will go into the faucet, but beyond that I don't know the distribution. There's supposed to be a rich list available in the built-in explorer, but I was unable to get a client running on my out-of-date systems (32-bit Windows (64-bit Windows client only), and CentOS 6 (glibc too old)).
[9] In general all full nodes are maintaining their own copies of all the information, but as I understand it the dispute resolution is based on voting by ownership of rai.
[10] All rai will be distributed through https://raiblocks.net/#/start as per https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining
[11] There's been some discussion on BCT as well as on the google group: https://groups.google.com/forum/#!forum/raiblocks ; there's a new subreddit /raiblocks, but it's still set on private for some reason at the time of writing this footnote (just wrote a comment to meor noting this).
Further reading
https://raiblocks.net - Main site
https://github.com/clemahieu/raiblocks - Repo with documentation on the github wiki.
https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - whitepaper
https://groups.google.com/forum/#!topic/raiblocks - Google group
https://bitcointalk.org/index.php?topic=1219264.0 - Block lattice discussion
Disclosure, disclaimer
Disclosure: I have made an agreement to purchase 100 Mrai and have paid 100 NYAN for this. I have no other financial interest in Raiblocks currently, but I do intend to get a client ultimately (my current OSes are incompatible from being too old (one is 32-bit Windows; other CentOS 6 with too old glibc)) and get free coins from the faucet and play with this more.
Disclaimer: This writing is intended for edutainmental purposes only. Any accurate information conveyed is purely incidental. No warranty of fitness for any fit purposes is implied. This column known to the State of California to cause cancer. Cave canum. Carpe carp. Caveat lector.
Up next:
Tell me what coin to write about next by sponsoring an article! A sponsored article would likely have more discussion than I did here, and less than my Coin-a-Year report on Nyancoin.
Edit: /RaiBlocks is now public! New subreddit, but hopefully it'll build up a bit over time. :-)
Edit 2: Added more than the stub discussion discussion section I'd initially done.
Okay, so those last links are generally outdated and old information and I stopped commenting through all that. Go to https://raiblocks.net/ and/or /raiblocks if you want to learn more. :-)
Again, I'm heavily biased from having gotten incredibly fortunate from this price rise and having been fortunate enough to have been introduced to the coin early on. I'm not giving trading advice. The market is crazy but I have no idea if it'll go up, down, sideways, or loop-de-loop.
Have fun and stay safe!
submitted by coinaday to CryptoCurrency [link] [comments]

Coin Rehabbing: The Art and Science. Chapter 1: Adopting a Coin

Welcome friend!
So you want to rehab a coin, eh? Decided that cryptocurrency is your game, and you're going to play it by finding something out there which already exists but is falling apart, and turn it around and make it Bitcoin 2.0, right?
Live the dream! But do it safely and carefully. I'll tell you how, for free (no guarantees of success; just my best guesses and personal experience so far; tanstaafl <=> you get what you pay for). No subscription, just read this. Why? I like to talk about what I like to do. And this is something I find very fun to do. After all, it's mostly been a hobby for me on the side.
"Coin rehabbing" is an idea I started to have around 2015, looking around at the explosion of coins and the low market caps of many of them as well as how many were dying off due to being abandoned. This made it so that it felt like you could just pick any idea you could think of: red, cat, dragon, whatever, and there's some clonecoin or something which is branded with it and many of them were cheap enough that buying 1% or something wasn't necessarily a big deal.
Now, I'll note that deciding to do a "coin rehabbing" approach is very different from a diversified, passive approach, which would take a little bit of a lot of these and 'forget' about them (but of course, not really forget or else would lose the value...). That latter, conservative and straightforward approach is one I would strongly recommend as a starting point to a newbie into cryptocurrency, after first starting with a basic starting coin or two (not that I'm giving investing advice, of course; heaven forfend!).
Coin rehabbing should be a decidedly advanced technique more for experts, or at least, more journeyman level than apprentice, although I'll admit I had no great knowledge when I started.
The switch from a passive to active investor can be fairly subtle or gradual in cryptocurrency. For me, it was rather intertwined almost from the very start with NYAN, although for many more coins I bought a tiny bit and did nothing with it. But with NYAN, I was doing the coin-a-day series at the time, and so published a piece on /cryptocurrency about it right from the start. I believe that post probably made some impact both then and at the time, even though it was not at all obvious to me at that time.
Of course, with cryptocurrency and Reddit, commenting about a cryptocurrency one owns is enough to at least make it grey if one is a passive or active investor (or gambler) at that point.
Regardless, for the rest of this and eventually these, I'll presume the reader has a basic familiarity but can always expand further upon request in comments or messages and may edit further later.
Okay, so, onto the heart of the matter: making your choice. I'd known there was Bitcoin for a while, and was gradually becoming aware there were a lot more coins out there. I figured there might actually be something of value somewhere, and a lot of them seemed pretty interesting, so I decided to just start looking around. I strongly recommend this approach. Start to read about as many different coins out there as you can. Produce write-ups. Publish those write-ups. Get feedback on them. Repeat. No buying or selling necessary or even particularly desirable until one has done this research (this despite my earlier claim that a person should be somewhat experienced; I'll say that it's the technical experience and not the size of the transaction (though perhaps its complexity sometimes, but just the basics are fine to start - I've never done a multisig yet myself) which is important). In fact, based on what I've found in the stock market, I feel like I was able to far more dispassionately observe it before I was betting it, just as one would expect.
The barrier to entry is very low to start to get involved with a coin, but it can be fairly high to maintain a presence with a coin, or it can be fairly low, depending on the approach one takes. Personally, I don't bother to follow almost anything at this point, just because I'm doing other things for the most part, but if I had more free time I'd definitely look at what is going on with a few different coins. But I think it makes sense to start to talk to a few different coins you're interested in just to get a feel for the variety and similarity of different communities and figure out what sort of opportunities interest you. The great thing about volunteer work is there's often plenty of it to go around. The less fortunate thing about it is there is still often a surprisingly large amount of politics going on.
Personally, I chose a "deadcoin" to adopt both because I wanted the ultimate challenge and also because I figured it would give me the best tabula rasa since no one would oppose anything I wanted to do with the coin, since there was no one else interested. Of course, this is a very slight exaggeration since there were some who still held coins at that point and of course there was Prohashing still running the pool and Cryptsy still listing the coin. I think it was about as close to a minimum viable coin as possible at that point. Technically, it would be possible to restart a coin from a stored blockchain even after the mining went down and the exchange was lost by restarting mining oneself and paying for a listing (or making an exchange, but that's a whole different type of challenge of even greater magnitude which I personally intend to never attempt myself). But I'm lazier than that, and since there were coins that had it anyhow, I didn't see any reason to bother with that. Besides, I didn't have any coins which I'd been running a node of and had some chain stored I wanted to revive.
I strongly recommend not doing what I did, in many ways, but that one included, because it is a much greater challenge. I think it's a better idea to be a "junior partner" type of position with a small coin that you like rather than trying to rekindle a fading ember. When you do well, you do better than you would've otherwise: the only money I've ever taken out of cryptocurrency has been from Nano (né Raiblocks), where I was a passive investor for over a year, not even realizing it was still alive after getting a bunch for free on the original faucet (I actually kind of needed the distraction at the time anyhow; rather enjoyed listening to X Minus One and playing ReCaptcha; international street and forest and such is actually kind of cool to see). That was in a lot of ways a complete strike of luck, but at the same time, it's one I wouldn't have been in the position to get lucky on if it hadn't been for the fact that I'd been writing and publishing my thoughts about cryptocurrency and what it should be, in that case, that transaction costs should be low or free if possible.
This is the key I think: as you look among these many options, what do you value? Not simply in the concept of trying to figure out the beauty contest of what other people will value, but what do you value? This is really the question, because since this is gambling and playing around with the very concept of value, it's pretty important by starting to define it for oneself.
To me, a long-term, forthright and frankly simple approach is the key. I'm lazy. I want things to be easy. Trying to trick people is not easy. Trying to trick people in cryptocurrency is especially not easy (despite how easy Buttcoin makes it look) as they're a group used to being tricked (as contradictory as that seems to the claim it's not easy to trick them, resolved: there is a stream of easy marks but I don't think the regulars are easy marks). And I'm not interested in having a lot of features to maintain and bugs to fix from those features and vanity changes or obfuscatory changes. That's all just a bunch of extra work.
Other than being honest and easy, I wanted to find a coin with a capped supply. I find the concept of a fixed supply of tokens of value very interesting since it takes away one of the core concepts of what we're used to with currency. I wanted to be able to have a million somethings myself, so it should have at least like 100+ of them so that I could always maintain at least that amount fairly reasonably.
And I was lucky enough to be in the right time and place to be looking at NYAN with its max supply of 337 million coins and thinking to myself that a million of them certainly looked pretty affordable. So I decided to adopt it. There wasn't one moment, at least that I can recall now, where I decided this, but as I bought more and learned more I decided I wanted to see where it could go. I haven't always been able to put as much time and effort into it as I would have liked but it's managed to survive, which I attribute mostly to having chosen well initially (and, most importantly and perhaps related: from the surprisingly large number of other people who have helped out before and after I got involved) rather than any particularly spectacular skill or decision making after, apart from perhaps patience and sustained interest.
In particular, I rather like having a clonecoin. It's well understood, which helps on absolutely everything from maintenance to listing to mining. It's true that it doesn't given any particular special advantages or different tech, but at the same time, it doesn't get any special disadvantages either. In cryptocurrency, I think that sort of "herd immunity" is more important than trying to be trailblazing, despite the fact that Nano/Raiblocks and many of the other currently most successful coins are not clones (and yet at least a couple are, which are generally now not thought of as clones since they exceed at least their direct ancestor now (Litecoin and Monero are the ones that come to mind, from Tenebrix and Bytecoin iirc as I'm too lazy to look up)).
That is one coin rehabbing selection I did that I would recommend to others who want an easy approach rather than a hard approach. And, conversely, it's an area where I gave myself a handicap instead of some "ultimate challenge". I knew that if I went for some huge challenge from the technical side it was extremely unlikely to survive. Instead, I wanted just an economic challenge rather than a technical one: how does a market cap, or more generally, the valuation of a coin rise over time? Sounds fairly simple, but is the key to a lot of cryptocurrency, and involves most of the rest of it.
It's led me to believing that the community is the basis of both the technical and financial results (on the latter, at least ultimately; more short-term wandering speculation without any particular interest certainly can have a major impact as well but for the most part my guess is that the market of a cryptocurrency will tend to reflect the financial interest and strength of the community behind it over the long-term), as I saw my own interest drive the price as I bid myself up trying to buy up as much NYAN as I could particularly in the first couple months I got involved at the start of 2015 (and bidding against some others from time to time), and then my lack of extra money to keep bidding at that rate and increasing the price eventually coincide with a sudden massive sale that ended that first initial bull market of the revival in early March 2015. For a long time, the chart of NYAN was basically a chart of my own financial health. In a lot of ways, it still is, but not as a result of me being the primary buyer at this point (I don't think; haven't logged into Cryptopia in quite a while; I suspect my last bids at this level whenever I placed them were filled and someone else is currently at this price as it's often been for a while now). Eventually, of course, for a coin to be meaningful, it probably should have more than one buyer, but NYAN survived with mostly me as the majority of its market for some time. Long enough there were certainly points I considered it a potential concern, but I was in no rush to do outreach marketing for a lot of reasons, particularly the many, many risks. Besides, I've always tried to stay fine with the idea that the coin can completely fail, because, of course, it can. So a lack of demand isn't particularly concerning when it happens or a massive sale, as I tend to expect them. Frankly, the rises should be more concerning, as they're the biggest opportunity for mistake and when it's most important to try to make sure people aren't making rash decisions or getting reckless. I regret not having shouted warnings in here more about a likely bubble during the last rise, which peaked at the start of this year but after such a long drought I'd been hopeful that it was less of a bubble than it appears obvious as in hindsight.
Okay, that's rather rambly and could really use an edit rather than a publish, but if I save for editing, I'll never do the rewrite and won't publish, and if I publish, I may someday revise and perhaps it'll be of some use or interest in current form so...here it is! I assert this is of no value whatsoever and thus is provided for no cost. I also assert it thus has no warranty, you shouldn't trade based on it, and you just generally should live a safe and cautious life, eat your vegetables, and live to a ripe old age comfortably and happily.
Chapter Motto (to be lovingly stolen from GoT House words): Growing Strong
submitted by coinaday to nyancoins [link] [comments]

Historical Corrections [with source]

List of bubbles representing a 45% or greater correction since the dawn of bitcoin. Note the the time it took to correct the correction.
Top Date Bottom Date % Drop Time to new ATH
$0.36 11/6/2010 $0.19 12/9/2010 47.22% 2.23 mo
$29.58 6/8/2011 $2.14 11/17/2011 92.77% 20.43 mo
$213.72 4/8/2013 $65.39 4/15/2013 69.40% 6.82 mo
$1,132.26 11/28/2013 $198.59 1/13/2015 82.46% 38.75 mo
$19,498.63 12/17/2017 $9,017.41 1/17/2018 53.75% TBD
ATH $19498.63 @ 12/17/2017
1 MIL USD invested poorly (buy top / sell bottom) = $947.59
5 BTC from an early faucet HODL'd till last bottom = $45,087.05
5 BTC from an early faucet invested wisely (sell top / buy bottom) = $102,885,055.93
Toy github repo: https://github.com/brianddk/bubble-count
submitted by brianddk to BitcoinDiscussion [link] [comments]

NAV Roadmap - KR translation

Hey guys, been MIA for a few weeks getting things done. Slowly and steadily getting translations coming in from friends and translators: (Hoping our friend Mr. Fry hasn't translated this yet) -
Project Roadmap : 프로젝트 로드맵
Where we’re going : 우리가가는 곳
Cryptocurrencies are complicated, and it’s our mission to change that. The Nav Coin wallets are easy to use and have great built in privacy features : Cryptocurrency 는 복잡하고, 그것을 바꾸는 것이 우리의 사명입니다. Nav Coin 지갑은 사용이 간편하며 개인 정보 보호 기능이 뛰어납니다.
Upcoming Projects : 다가오는 프로젝트들
Our upcoming projects continue on that journey of providing great software that does the heavy lifting so you don’t have to. : 우리의 다가오는 프로젝트는 당신이 할 필요가 없도록 무거운 짐을하는 훌륭한 소프트웨어를 제공하는 여정에서 계속됩니다.
Navtech wallet rebuild : NAVTech지갑 재구성
To simplify running a NAVTech node, we are looking to integrate Nav Coin and the Subchain into a single multi-chain wallet. This will make it easier for everyone to process anonymous transactions, and is the precursor to the next generation of the NAVTech system. -NAVTech 노드 실행을 단순화하기 위해 Nav Coin과 Subchain을 단일 다중 체인 지갑에 통합하려고합니다. 이렇게하면 익명의 거래를 모든 사람이 쉽게 처리 할 수있게되며 차세대 NAVTech 시스템의 전조가됩니다.
Upgrading our anonymous tech - NAVTech 2.0 : 익명 기술 업그레이드 - NAVTech 2.0 With the multi-chain wallet working, we will then begin to port the NAVTech scripts into the wallet itself. At this point we would also look at how we can open the cluster system up to being a trustless mesh network so anyone can easily participate and gain rewards. :다중 체인 지갑이 작동하면 NAVTech 스크립트를 지갑 자체에 포팅하기 시작합니다. 이 시점에서 우리는 클러스터 시스템을 신뢰할 수없는 메쉬 네트워크로 열어 누구나 쉽게 참여하고 보상을 얻을 수있는 방법을 살펴볼 것입니다.
Nav coin direct - An easier way to buy : NAVNav Coin Direct - NAV를 구입하는보다 쉬운 방법 With the success of our PayPal NAV purchasing through our merchandise store we are going to build a purchasing platform for buying NAV with Fiat Currencies, Pay Pal, Credit Cards and more. : 우리의 상품 점포를 통해 구매 한 PayPal NAV의 성공으로 우리는 피아트 통화, Pay Pal, 신용 카드 등으로 NAV를 구입할 수있는 구매 플랫폼을 구축 할 것입니다.
Currently in progress : 현재 진행 중
Mobile & web wallets @95% : 모바일 및 웹 지갑 @ 95 % After the release of Nav Coin 4.0.0 we will begin working on a full suite of Mobile & Web Wallets based on the Copay source code. Copay is an amazing javascript based wallet which will provide us with a great platform to build our Nav Coin wallets on top of. : Nav Coin 4.0.0이 출시되면 Copay 소스 코드를 기반으로 한 전체 모바일 및 웹 지갑 제품군에 대한 작업을 시작합니다. Copay는 자바 스크립트 기반의 놀라운 지갑으로 Nav Coin 지갑을 위에 쌓을 수있는 훌륭한 플랫폼을 제공합니다.
Anonymous DApps Planning @ 90% : 익명의 DApps 기획 @ 90 % We are looking into the possibility of upgrading Nav Coin and the Subchain to implement smart contracts. The idea being this will enable people to build Anonymous Decentralized Apps (ADapps) on top of our existing dual blockchain system. This milestone for the feasibility phase of the project where we research Dapp platforms and frame up what ours will look like. : 우리는 현명한 계약을 구현하기 위해 Nav Coin과 Subchain을 업그레이드 할 수 있는지 검토하고 있습니다. 이 아이디어는 기존의 이중 블록 체인 시스템 위에 ADAP (익명 분산 응용 프로그램)를 구축 할 수있게합니다. Dapp 플랫폼을 연구하고 우리의 모습을 구성하는 프로젝트의 실현 가능성 단계에 대한이 이정표.
Marketing Roadmap @ 75% : 마케팅 로드맵 @ 75 %
With our Q1 releases out of the gate, our marketing team will be able to refocus on the wider branding message and marketing strategy. The first step is to formalise a marketing roadmap and present our marketing plan. : 당사의 1 분기 릴리즈를 통해 마케팅 팀은보다 광범위한 브랜딩 메시지 및 마케팅 전략에 다시 집중할 수있게 될 것입니다. 첫 번째 단계는 마케팅 로드맵을 공식화하고 마케팅 계획을 제시하는 것입니다.
Rebuilding the Subchain @ 50% : 서브 체인 @ 50 % 재건
With the successful upgrade to the new Nav Coin Core, we will be aligning the subchain source with the new code base. This will mean restarting that blockchain and also preparing to integrate the Subchain into the Nav Coin wallet. : 새로운 Nav Coin Core 로의 성공적인 업그레이드를 통해 서브 체인 소스를 새로운 코드 기반에 맞출 것입니다. 이것은 해당 블록 체인을 다시 시작하고 Nav Chain 지갑에 Subchain을 통합 할 준비를하는 것을 의미합니다.
NavTech Polymorph @ 33% : NavTech 다 형체 @ 33 % NAVTech Polymorph is a fusion of NAVTech’s Anon transactions and Changelly’s instant exchange. It will enable users to send any one of 25+ cryptocurrencies anonymously through the dual blockchain powered NAVTech anonymous transaction system. : NAVTech Polymorph는 NAVTech의 Anon 거래와 Changelly의 즉석 거래를 융합 한 것입니다. 사용자는 익명으로 이중 차단 체인 전원 공급 장치 NAVTech 익명 트랜잭션 시스템을 통해 25 개 이상의 암호 화 된 통화 중 하나를 보낼 수 있습니다.
Nav Pi JS @ 15% After the successful launch of NavPi, we are working towards streamlining the interface. This means a full redevelopment using Angular2 served by NodeJS. This also aims to improve the performance of the front end giving a smoother user experience. : NavPi를 성공적으로 출시 한 후 우리는 인터페이스 간소화를 위해 노력하고 있습니다. 이는 NodeJS가 제공하는 Angular2를 사용하여 전체 재개발을 의미합니다. 또한 프런트 엔드의 성능을 향상시켜보다 원활한 사용자 환경을 제공하는 것을 목표로합니다.
Completed Projects : 완료된 프로젝트
NavTech v1.2
NavTech 1.2 will address the metadata inference of NavTech transactions when the system is running at low volume. We will be implementing multiple output addresses, variable fees, time delays and dummy transactions. : NavTech 1.2는 시스템이 낮은 볼륨에서 실행될 때 NavTech 트랜잭션의 메타 데이터 추정을 처리합니다. 우리는 다중 출력 주소, 가변 수수료, 시간 지연 및 더미 트랜잭션을 구현할 것입니다.
Nav Coin Core 4.0.4
This is an important update which includes all the updates necessary to be compatible with NavTech 1.2. Updating to this version is mandatory due to the major changes to how NavTech works : 이 업데이트는 NavTech 1.2와 호환되는 데 필요한 모든 업데이트를 포함하는 중요한 업데이트입니다. 이 버전으로의 업데이트는 NavTech 작동 방식의 주요 변경 사항 때문에 필수적입니다.
NavPi 1.0.1
This is the software which the pre-built NavPi’s are shipping with from our store. This version still uses the same UI which was in 1.0.0 but the image has been rebuilt from the ground up with extra security features. : 이것은 사전 제작 된 NavPi가 우리 가게에서 배송하는 소프트웨어입니다. 이 버전은 여전히 ​​1.0.0과 동일한 UI를 사용하지만 추가 보안 기능으로 이미지가 처음부터 다시 작성되었습니다.
Copy of Pre Built NavPi's : 사전 제작 된 NavPi 사본
We are working towards sourcing and supplying NAV branded NavPi units on the Nav Coin Store. These will ship with the image pre-loaded onto the memory card so all you will need to do is plug them in and send the coins. : Nav Coin Store에서 NAV 브랜드의 NavPi 장치를 소싱 및 공급하기 위해 노력하고 있습니다. 이것들은 메모리 카드에 미리로드 된 이미지와 함께 제공 될 것입니다. 그래서 당신이 할 일은 플러그를 꽂아 동전을 보내는 것뿐입니다.
NAVTech 1.1
We are reviewing and fully unit testing the NAVTech source code. First optimizing and testing the existing source and fixing some small bugs we have listed as issues on the github project : 우리는 NAVTech 소스 코드를 검토하고 완전히 테스트하고 있습니다. 먼저 기존 소스를 최적화하고 테스트하고 github 프로젝트의 문제로 나열한 몇 가지 작은 버그를 수정합니다.
Nav Coin Core 4.0.0
We are rebuilding Nav Coin Core up to date with the Bitcoin 0.13 source. This will increase Nav Coin’s stability, capabilities and ability to integrate with other services. By updating to 0.13 we will get some great technical benefits including the capability to have a Nav Coin Insight API and Segregated Witness. : Bitcoin 0.13 소스를 사용하여 Nav Coin Core를 최신으로 재구성하고 있습니다. 이것은 Nav Coin의 안정성, 기능 및 다른 서비스와의 통합 능력을 향상시킵니다. 0.13으로 업데이트하면 Nav Coin Insight API 및 분리 된 증인을 보유 할 수있는 능력을 포함하여 많은 기술적 이점을 얻을 수 있습니다.
NavPi StakeBox
A low-energy Nav Coin staking solution based on the Raspberry-Pi platform. NAV’s highly anticipated web interface enabled staking unit, offers a more energy efficient way to earn Nav Coin rewards and participate in transaction verification. : 라스베리 -PI 플랫폼 기반의 저에너지 Nav Coin 스테 킹 솔루션. NAV의 높은 기대를 모으고있는 웹 인터페이스를 통해 스테이 킹 장치가 가능해 Nav Coin 보상을 획득하고 거래 검증에 참여할 수있는보다 에너지 효율적인 방법을 제공합니다.
Website Redesign : 웹 사이트 재 설계
We are redesigning the main Nav Coin website with the aim of giving a better experience to new and returning users. We have thoroughly mapped out the User Journey and hope this makes the site much easier to navigate and use. : 신규 및 재 방문자 사용자에게보다 나은 경험을 제공하기 위해 Nav Coin 웹 사이트를 재 설계하고 있습니다. 우리는 User Journey를 철저히 분석하여 사이트를 훨씬 쉽게 탐색하고 사용할 수 있기를 바랍니다.
Decentralization Implementation : 지방 분권화 구현
The release of the new Navtech value-transfer system, was a key piece of the decentralization network implementation. The new architecture allows Navtech servers to operate in trusted clusters and form their own private mesh network of processing servers which anyone will be able to run and earn rewards from. : 새로운 Navtech 가치 이동 시스템의 출시는 분산화 네트워크 구현의 핵심 요소였습니다. 새로운 아키텍처를 통해 Navtech 서버는 신뢰할 수있는 클러스터에서 작동하고 누구나 실행할 수 있고 보상을 얻을 수있는 자체 처리 메쉬 네트워크를 형성합니다.
Anonymous Merchant Integration : 익명 판매자 통합
Once we have finished the initial merchant gateway, we will integrate the merchant gateway with our anonymous network to allow for the anonymous purchasing of products. : 초기 상인용 게이트웨이를 마친 후에는 제품의 익명 구매를 허용하기 위해 가맹점 게이트웨이를 익명 네트워크와 통합 할 것입니다.
Merchant Gateway : 판매자 게이트웨이
Nav Coin has been added to Coin Payments merchant gateway system. This allows merchants to accept Nav Coin in their physical stores and also on their websites. : Nav Coin이 Coin Payments 가맹점 게이트웨이 시스템에 추가되었습니다. 이를 통해 판매자는 실제 매장에서 Nav Coin을 수령하고 웹 사이트에서도 Nav Coin을 수령 할 수 있습니다.
NAVTech NodeJS
Rebuilding the Nav Coin Anonymous Tranasction System “Navtech” is a top priority for us. The redevelopment of the system allows for a smoother transition to a fully decentralised system. : Nav Coin 익명 트랜샌 션 시스템 재 구축 "Navtech"은 우리에게 최우선 순위입니다. 시스템을 재개발하면 완전히 분산 된 시스템으로 원활하게 전환 할 수 있습니다. Thin Client for Desktop : 데스크탑 용 씬 클라이언트
Our custom X13 Electrum server also enables us to build a thin client for desktop. This will be a great addition to the Nav Coin software suite and give people instant access to their Nav Coin without having to sync the entire block chain! : 우리의 커스텀 X13 Electrum 서버는 데스크톱 용 씬 클라이언트를 구축 할 수있게 해줍니다. Nav Coin 소프트웨어 제품군에 추가 된 기능으로 전체 블록 체인을 동기화하지 않고도 Nav Coin에 즉시 액세스 할 수 있습니다!
NAVTech Public Release : NAVTech 공개 버전
With the main block chain successfully hard forked, the network stabilised and the major exchanges successfully running on the new wallet we are able to move forward into the final stage of deployment. The double encrypted Navajo Anonymous network will be fully functional and open to the public from Monday 23rd of March 2015. : 메인 블록 체인이 성공적으로 단단히 고정되면서 네트워크가 안정화되고 주요 교환기가 새 지갑에서 성공적으로 실행되어 배포의 최종 단계로 나아갈 수 있습니다. 이중 암호화 된 Navajo 익명 네트워크는 2015 년 3 월 23 일 월요일부터 모든 기능을 제공하며 공개됩니다.
NAVTech Beta Test : NAVTech 베타 테스트
The public beta test of our Nav Anonymous Transactions system will begin on the 1st of February 2015. It will run for two weeks at which point it will close and we will begin processing the beta results. During the testing phase there will be a bounty set for anyone who can successfully trace the transactions from origin to destination. The beta test will be unencrypted to help us with analysis and testing. : Nav 익명 거래 시스템의 공개 베타 테스트는 2015 년 2 월 1 일부터 시작될 예정이며, 2 주일 후에 실행될 예정이며 그 시점에서 베타 결과 처리가 시작됩니다. 테스트 단계에서 원산지에서 목적지까지 트랜잭션을 성공적으로 추적 할 수있는 사람을 대상으로 현상금이 설정됩니다. 베타 테스트는 분석 및 테스트에 도움이되는 암호화되지 않은 것입니다.
Faucet : 수도꼭지
We will run a NAV faucet as well as the POS Wallet faucet. You will be able to register your wallet address with the faucet and be in the lottery to get sent free NAVs. : 우리는 NAV 수도꼭지뿐만 아니라 POS 월렛 수도꼭지를 운영 할 것입니다. 지갑 주소를 수도꼭지에 등록하고 추첨을 통해 무료 NAV를받을 수 있습니다
Block Explorer : 블록 탐색기
We have been added to the Cryptoid Block Explorer. The block explorer allows people to look up wallet addresses and see its public balance and transactions. : Cryptoid Block Explorer에 추가되었습니다. 블록 탐색기를 사용하면 사람들이 지갑 주소를 조회하고 대중의 균형과 거래를 볼 수 있습니다.
submitted by DijoinKlink to NavCoin [link] [comments]

Of Wolves and Weasels - Day 194 - Guest Post: Don't Underestimate Dogecoin

Hey all! GoodShibe... on vacation! (sort of!)
Please enjoy this post by Guest Writer Sku and tip them well ;D)
Note: To tip them directly: +dogetipbot @Sku xxx doge verify
When a few people suggested to me that I should write a guest post for GoodShibe, I was quite surprised. I didn't consider myself the type of person who is a good writer, or was even the type of person people wanted to listen to. I remember reading the first of Wolves and Weasels post, just about 6 months ago. Never did I think it would still be going now, half a year on, and that I would be writing it. This has surely been the forefront Dogecoin daily blog for the entire community, and in Dogecoin's bright future it will be looked back on fondly. It is therefore special for me to be a part of it.
It is people like GoodShibe who have been a pillar of this community, and kept us going through the good times and the bad, through complete dedication to Dogecoin every single day. But it is not just the GoodShibes who make Dogecoin, it is people like you and me. I am just a normal guy, who stumbled upon this whole crazy community in December through Reddit, and had no idea what I was doing.
I picked up a few scraps from faucets, and my interest grew from there. 6 months later, and I'm writing an article about it. Dogecoin is powerful, because for too long, altcoins were only popular among an inner circle of enthusiasts, and it is truly Dogecoin which has blown the community wide open for anybody to get involved in, myself included.
Looking back as well these past months, thinking back from what /Dogecoin was like when I joined, we have changed so much, but for the better. When you look at the top 10 coins, Dogecoin is now 7 months old, and has earned a permanent position on that list. Despite the decline from a speculative bubble, we have held strong with a huge $20m market cap, which, if you told me in December i wouldn't believe. Back then everyone was talking about if we would hit $5m cap, because LEL DOGE ON A COIN TO THE MOON. It seemed completely ridiculous that Dogecoin was taking off, and I don't think anyone truly believed in it longterm at that point.
But then something happened. You guys happened. You came here in droves, and you built a huge thriving community which rivaled anything ever seen in Cryptocurrency before. Together we built the foundation for this coin to still be here, to still be so strong, and still be a contender as a top Cryptocurrency seven months down the line. How many other seven month old Cryptocoins still have a community of this size, and a market cap of $20m USD? What happened to the flood of copycat meme coins of January and February? We are not the new kids in town any more, we have rooted ourselves firmly into the altcoin scene, and we are here to stay for a long long time.
Community?
A lot of trolls bemoan how the community is not as active, and smaller than it once was. While this is somewhat true, I have a few counter pointers to this:
Community is what makes a coin, and we have that. What point is a currency if no-one is there to use it, just speculative investors pumping and dumping? Dogecoin seems to be up there with Bitcoin and Litecoin as the 3 major accepted Crypto currencies accepted by retailers. And that is because these 3 coins have normal people using them, and spending them. Pretty much every other Crypto is 100% speculative at this stage, but Dogecoin is already going further than most to build usage, economy and community.
We had our speculative bubble, and like every other coin it came crashing down, but unlike almost any other coin, we are all still here, supporting this huge $20m USD market cap coin. Look at any other new coin that had a crash like ours; the community has simply vanished.
Value?
I also briefly touched above on coins moving from bad hands to good hands, and this is really great news. We have mined almost 88 billion coins by this point, a huge number, and a lot of these coins are moving into better hands, long term investors, and members of the community. But, it will take 17 years before we mine another 88 billion coins. We have mined such a large amount of coins in such a short amount of time, that a lower price was needed to move those coins into long term hands, such as you and me.
This is where Dogecoin will get it's value from. True believers, long term investors and community members are now holding on to a large majority of all the coin which will exist for years to come. And this time time, we won't give it over as easily to daytraders, short term investors and the like, because the people still holding are in this long term. The bad hands will have to fight over a lot less coins, as we hold all of our stockpiles as investments, tip them out to new users, and start building our own usage economy.
Maybe one day we can cash out a little for profit, but we will have worked hard to build what we have. We are not get rich quick scammers, we are doing it the old fashioned way, it's slow, and it's hard work, but we know the results will be much more rewarding.
At current prices, we create 35btc worth of new coins everyday, most of which are mined by multipools, and dumped straight to exchanges. 35btc every day might sound like a lot to you, but consider the following statistics. Given current pricing, here is the amount of new coins being produced daily by the 2 big players as things stand:
Bitcoin: 3600btc (100x Dogecoin)
Litecoin: 390btc (11x Dogecoin)
So at Dogecoin's current price level, we are producing very little new value everyday compared to the other big players. And these big players will be producing an enormous volume of coins everyday for years to come, whereas if we still are at a 40sat price level in January, after block 600,000, we will be producing just 14.4m Dogecoins a day, just 5.6btc, 643x less than Bitcoin.
Litecoin doesn't halve until August 2015, and Bitcoin late 2016, and even then, they will still be flooding the market with huge numbers of coins for decades to come. This is where Dogecoin is different; the flood of coins for us is coming to an end, and is already largely over. The community has proven staying power. Given these factors, do you really think Dogecoin will only be worth 40sats in January, as it becomes harder and harder for the market to get it's hands on coins?
As I mentioned in my last post, the great thing about the speculative crash, is that it's a great time for everyone to jump back on board, to buy a worthwhile number of coins at excellent value. You will be buying outside of a speculative bubble right now, at a fair market evaluation which has not been overly inflated by pumpers and speculators. There will still be short term ups and downs, but the long term outlook has never looked brighter. We have grown as a community, fought back the great summer dramas of 2014, and are stronger than ever before. There never has been a better time to jump into Dogecoin.
Maybe one day you will be writing a 1653 word essay on Dogecoin too. Which brings me to the end of mine. Thanks if you stuck with me all the way to the end, and I hope that it inspired you today, to truly look at what an amazing thing this community has done together.
https://www.youtube.com/watch?v=tdjh_evylJA
It's 8:28AM EST and we've found 87.89% of our initial 100 Billion DOGEs -- only 12.11% remains until our period of Hyper-inflation ends! Our Global Hashrate is up from ~46 to ~48 Gigahashes per second and our Difficulty is down from ~708 to ~616.
I Hope you enjoyed today's Guest Post by Sku!
Note: To tip them directly:
+dogetipbot @Sku xxx doge verify
GoodShibe
submitted by GoodShibe to dogecoin [link] [comments]

Historical Corrections [with source]

List of bubbles representing a 45% or greater correction since the dawn of bitcoin. Note the the time it took to correct the correction.
Top Date Bottom Date % Drop Time to new ATH
$0.36 11/6/2010 $0.19 12/9/2010 47.22% 2.23 mo
$29.58 6/8/2011 $2.14 11/17/2011 92.77% 20.43 mo
$213.72 4/8/2013 $65.39 4/15/2013 69.40% 6.82 mo
$1,132.26 11/28/2013 $198.59 1/13/2015 82.46% 38.75 mo
$19,498.63 12/17/2017 $9,017.41 1/17/2018 53.75% TBD
ATH $19,498.63 @ 12/17/2017
1 MIL USD invested poorly (buy top / sell bottom) = $947.59
5 BTC from an early faucet HODL'd till last bottom = $45,087.05
5 BTC from an early faucet invested wisely (sell top / buy bottom) = $102,885,055.93
Toy github repo: https://github.com/brianddk/bubble-count
submitted by brianddk to BitcoinMarkets [link] [comments]

Coin-a-Year: Nyancoin

Hello cryptocurrency lovers! Welcome to Coin-a-Year, the laziest series yet in the Coin-a-Day publishing empire. This year's coin is Nyancoin (NYAN). I originally covered Nyancoin in an article here in /cryptocurrency published January 4th, 2015.
Without (much) further ado, I'm going to include the original report next, unmodified. This is unlike my Coin-a-Week series, where I use strikeout and update in-text. Because this is going to be a longer update, I'll just make all further comments and updates below, just realize that all information below is as of January 4th, 2015 and thus is more than a year out of date as of posting now, at the end of February 2016.
Since I use horizontal rules as internal dividers in the original post, I'll use a double horizontal rule to divide the original text from this prelude and the following update.
Coin-a-Day Jan 4th
Welcome to the fourth installment of Coin-a-Day! To see convenient links to the introduction and the previous entries, please see /coinaday. Today's coin is Nyancoin (NYAN).
Summary
• ~173.6 million available currently [1]; 337 million limit [2]
• All-time high: ~0.000024 BTC on February 16, 2014 [1]
• Current price: ~3 satoshi [1]
• Current market cap: ~$1,275 [1]
• Block rate (average): 1 minute [1] [3]
• Transaction rate: ~25? / last 24 hours; estimated $3-4 [4]
• Transaction limit: 70 / second [5]
• Transaction cost: 0 for most transactions [6]
• Rich list: ??? [7]
• Exchanges: Cryptsy [8]
• Processing method: Mining [10]
• Distribution method: proof-of-work block rewards and 1% premine for "bounties, giveaways & dev support" [2] [10]
• Community: Comatose [9]
• Code/development: https://github.com/nyancoin-release/nyancoin ; there hasn't been a released code change in 10 months. The new developer has talked about some changes, but has not made a new release. He has given advice about how to keep the network running and operate the client. [10]
• Innovation or special feature: First officially licensed cryptocurrency (from Nyancat) [2]; "zombie"-coin [11]
Description / Community:
So you're probably wondering why in the world we're talking about a coin which has been declared dead and already written off. I actually first selected this coin to illustrate a "deadcoin", but the more I dug into it, the more I was amazed at the shambles I discovered. I am combining the description and community sections for this coin, because the community (or lack thereof) is the central issue for Nyancoin.
Substantially all, if not literally all, of the original infrastructure is gone. From the announcement post, the original website has expired. The nyan.cat site itself survives, but has no reference to the coin. The github repo remains, but then there was never much changed from the bitcoin/litecoin original. In fact, the COPYING file doesn't even list "Nyancoin Developers". None of the original nodes seem to be running anymore. @Nyan_Coin hasn't tweeted since July 6th. And that was just to announce posting an admittedly cute picture to facebook which makes a claim for a future which seems never to have developed. Of the original 15 pools, I think all are dead except p2pool, for which at least one node still supports NYAN. The original blockchain explorer, nyancha.in, is still running. The faucet is dead or broken. The original exchanges no longer list it (two of the three having died; SwissCEX having ended its trading as of the first of this year). And so forth.
And yet:

I'm not dead! I'm getting better!

No you're not, you'll be stone dead in a moment.
[Of course, that scene finishes with knocking out the "recovering" patient so he can be taken away...not to mention the absurdity of including Monty Python in a financial article, but moving right along.]
There is still just enough left to Nyancoin to keep it twitching, even if it is on life-support. Whether it's an individual node or whether it's a pool, there are blocks being produced at a steady rate as intended. Transactions are being processed. There is still a market. There is still a block explorer. And there is a dev. It is like a case study in the absolute minimum necessary to keep a coin alive. The most likely outcome is almost certainly a final collapse when one critical piece or another of the infrastructure goes away. And yet in the meantime, a person can own a million NYAN for $8 [12], and then move this coin quickly and easy, albeit with no particular external demand. It's like the world's most hyped testnet.
I think this case presents an interesting example of what happens to an altcoin when its initial support dries up. NYAN coin is more fortunate than some, actually, as there are some where there are no longer any nodes running it nor the original announcement thread (in fact, there was actually a second Nyancoin launched around the same time. But it died hard and its original announcement thread was deleted and at this point I would have no idea how to access it; so "Nyancoin" thus illustrates how hard a coin can die (Nyancoin 2) as well as how it can hang around despite being proclaimed dead, with far more justification behind that pronouncement than there has been for bitcoin (NYAN) ).
Footnotes
[1] http://coinmarketcap.com/currencies/nyancoin/
[2] https://bitcointalk.org/index.php?topic=402085.0 Regarding the premine, it's unclear to me where this money is now, since the original poster hasn't been active on BCT since May and the original site is down. However, given that it's only 1%, and about $25 in value right now, there seem to be more significant concerns for NYAN.
[3] http://nyancha.in/chain/Nyancoin - Nyan blockchain explorer; blocks are somewhat inconsistent but somewhere around the 1 minute average
[4] There doesn't seem to be anything automatically doing these stats, so I did visual inspection on about 1500 blocks (about one day) excluding the block generation reward (~250k/day). Most blocks are otherwise empty. I counted about 24 transactions or so scrolling through, with an outlier around 300k NYAN and another around 100k NYAN. In total, about 500k NYAN, excluding the block rewards. This is very approximately $3-4.
[5] Nyancoin is a basically unmodified, slightly out-of-date bitcoin as far as code goes, and ignoring the change in block rate and total coin supply, as well as the difficulty retarget after every block. So for purposes of estimating maximum possible transaction throughput, I start with bitcoin's estimated 7 transactions per second, and multiply by 10 for having a block on average every minute rather than every 10 minutes. In any event, this limit is not likely to be reached in the foreseeable future.
[6] Like bitcoin, transaction fees appear to be optional in Nyancoin. Unlike bitcoin, there is almost no transaction volume, and coins tend to sit for a relatively long time before being moved. So zero-fee transactions appear to be the norm from looking at a couple transactions on the block explorer.
[7] I couldn't find one. See the disclosure section of this article: your humble correspondent is likely represented in some way on a top 100 if one were to be made or if one exists, despite not holding it directly, depending on how the exchange holds it.
[8] I could not find any other exchanges still listing Nyancoin. SwissCex appears to have disabled it as of a couple days ago. Cryptsy has a notice that the NYAN/BTC market will be closing, but its NYAN/LTC market appears strong.
[9] Essentially all of the original sites, pools, faucets, etc. are dead and there has been very little to replace it. There is basically a single node, or perhaps a very few, which are running the blockchain. However, there is a developer still trying to hold things together, maxvall_dev, maxvall on BCT. He is the last hope for the NYAN.
[10] https://bitcointalk.org/index.php?topic=597877.0 This is the thread where maxvall took over as dev, and it also discusses switching to PoS, which hasn't happened as far as I know.
[11] "zombie"-coin: Not to be confused with ZMB (my god, does it ever end?). This is my term to describe a coin which is "undead": by rights it should be dead. And yet it's still walking around and acting like it's alive. What is it? What's going on? It's quite debatable whether this gives it any special value, but I find it an interesting state, and it's why this was chosen for early coverage. There are plenty of actually popular and successful coins, and we will go onto covering more normal selections; we're looking for variety rather than repetition. But I think this is an interesting example for what can go wrong, and yet in the midst of that, how little it takes for a coin to survive. In fact, it's almost like an alternate history bitcoin to me; this shows the concept that "it was run on one computer before; it can be run on one computer again" to some extent. And there are even some strange pragmatic benefits as well, like having no competition for getting a transaction into a block and thus zero transaction fees.
[12] And, in fact, the author chose to do so today, spending about 0.03 BTC for about 1 million NYAN.
Additional Reading
/nyancoins - Like NYAN: mostly dead, but not quite
http://nyan-coin.org/ - new official website
BCT thread listing nodes, xpool (p2pool), for mining information.
americanpegasus predicting in February that NYAN will hit $1; always an entertaining read
Giveaway
Instead of a challenge today, since NYAN has enough challenges, I decided I would give away 10,000 NYAN to at least the first ten people who ask for it. This still remains at my discretion, but honestly, if you really want, say, 50,000 NYAN and create four new accounts to do so, I'll probably be too amused to say no. I don't expect to get ten requests. If I get more, I'll probably still fulfill them, but as with everything else, this is left to my whim.
Donations and Disclosure
Okay, this is an important one today because of the tiny market here. I actually hold less USD value in NYAN than in BTC, DOGE, and PPC (although my value in PPC might be about equivalent actually), but I hold more of the total market in NYAN than any of those three. And I'll probably be buying more. So I have a conflict of interest in writing this article.
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
I personally hold just over 1 million NYAN on Cryptsy right now.
Perhaps it would be better if I didn't write any articles about anything I were invested inspeculating on, but I started this series for my own education to further my speculation, so unfortunately, dear reader, your needs come second to my own. tanstaafl; you get what you pay for, and I'm giving you my thoughts.
If by some strange quirk of fate you actually own NYAN and enjoyed this article and wished to donate some to me, K7Ho9HghBF6xWwS6JsepE6RAEPyAXbsQCV is mine (first non-empty account I've posted; transferred 1000 NYAN into here earlier from Cryptsy to test that the network and my wallet were actually working).
Thank you all for reading and commenting! I've already learned a lot from this process and I look forward to more!
Upcoming coins:
• January 5th: Nxt
• January 6th: Darkcoin
• January 7th: Namecoin
I'll use alphabetic labeling for footnotes in the updates to avoid any confusion with the footnotes in the original. For simplicity, unchanged items, like the 337 million limit and the 1 minute will not be mentioned, and we'll start with the summary changes.
Updates:
Summary
  • ~263.7 million NYAN currently exist [a]
  • Current price: ~7 satoshi [b]
  • Current market cap: ~$8,000 [c]
  • Transaction rate: ~185 / last 24 hours; ~3,300,000 NYAN (~$100) [d]
  • Exchanges: Cryptopia [e]
  • Community: We're not quite dead yet; in fact, I think we're getting better! [f]
  • Code/Development: I have an early draft of NYAN2, but I'm about six months past my initial goal for having it available to use. Life/work/lack of build machine/procrastination. NYAN2 will be a rebase onto a modern LTC codebase which will soft fork to fix a current vulnerability to a fork bug. For now, the network still runs on the same code that it did when I wrote the first article.
Discussion
I'm going to consider the community first, since I pointed it out as the weakness and central topic in the last one, then talk about the technical situation briefly, and then review the financial results.
The community has been excellent, if I do say so myself. We've got working infrastructure going thanks to the contributions of many Nekonauts (see [f]). Some original Nekonauts have returned or at least popped in from time to time, and new ones like myself have found Nyancoin (I would say given what I wrote in the original, I was still a skeptic of it at that point. Not that skeptics can't be Nekonauts, but I think I'd put my conversion to the cult of nyan shortly after writing that, even though I was already a nillionaire then for the heck of it.)
While I do look forward to seeing the community continue to grow in future years and consider that important, I don't think the community is our weakest point any longer; I think it's now our strongest point. I've tried to encourage the community's revival as best I could, including giving away tens of nillions in total, and lots of long rambling articles on my views on ethics and philosophy and frankly it's worked better than I would've really expected (or at least it has coincided with an effective recovery of the community). The community also helped me through at least a couple hard times personally in there as well.
The technical situation in Nyancoin is mostly unchanged but slightly improved, although with two additional known vulnerabilities. It's unchanged in that it's the same client. It's improved in that we have an active nyanchain explorer host (nyan.space), and we have a public draft of a plan for a soft forking security fix update in the near future (hopefully by the end of March (although I've slipped these deadlines before and may well miss March for release by a bit, I do think I'm inching closer now and then)).
The most serious vulnerability is to forking. This is the bug which hit Peercoin if I recall correctly. NYAN2 is intended to solve this through its soft fork from the LTC fix upstream (from the BTC fix upstream). In the meantime, we've been lucky we haven't been attacked. The tiny marketcap probably helps with not being a particularly attractive attack target. We're not exactly about to pay ransom to move faucet outputs. But that's no excuse; we want this fixed and should have it finally done "soon" (tm).
The less serious vulnerability is to a time warp attack in the difficulty function (Kimoto Gravity Well), which relates to general weaknesses it has and issues we've had with large gaps in the block chain because of spikes in the difficulty function causing it to be unprofitable and driving away most of the hash, and then low difficulty and price rise making it attractive to more hash, creating a spike and causing it again. While this is irritating, the chain still works, even if there are fits and starts at times. An important part of the reason I can get away with this is because there is at least one Nekonaut-supporting miner, CartmanSPC, who rescues us from time to time, and did so during the course of this article being written. We have a bunch of pools, but sometimes the hash just isn't there to get us unstuck when the difficulty goes high enough. Another part of the reason I consider it not an especially serious issue is because there's a workaround which works for me (classic bad developer logic): I use a large transaction fee (generally 337 NYAN, although I might have halved it after the most recent halving, I'll probably use 337 again) on my personal wallet by default. If necessary, I use a couple of them. It can make NYAN profitable to mine again despite the higher difficulty and "unstick" the chain. The difficulty function can go back down again in the next block if the gap has been long enough, so that can be enough to keep it going again for a while (although it can also get stuck again irritatingly fast at times). A fix for this will be putting in a better difficulty function for NYAN3, which will require a hard fork. This is tentatively scheduled for feature freeze around the middle of this year, coding to follow, activation sometime early 2017.
Financial has been our most disappointing performance. A graph of the 1 year performance right now on coinmarketcap looks pretty sad, showing our fall from a little over 60 satoshi down to around 7 satoshi now.
We rose too high, too fast, and I didn't stick with the safe high paying job like a sane person. Instead I hit the road, went to jail, and worked minimum wage. That doesn't sound like a sentence from a cryptocurrency financial review, does it? But the performance of NYAN since the article has been the story of my personal finances, which is the story of my life since then.
So, autobiographical coinaday interlude, trying to keep it generally to the most salient points. Well, in 2014 I had been on my way home to Minnesota from California when I was pulled over leaving Eureka, Nevada for speeding (got sloppy and went 45 approaching the 45 sign and thus technically still in the 35; bored cop seeing out-of-state plates). My vehicle reeked of weed, what with having been in Mendocino County previously with no intention of traveling out of the county much less state anytime soon but family emergency brought me back, and the end result was a citation for possession of cannabis and paraphernalia along with the speeding.
Fast forward to the beginning of 2015, I'm settled into a good software position and start looking more at cryptocurrency in my spare time. I write the coin-a-day series for a bit and then got annoyed and quit after a while when trying to do one a day on top of an actual job was too much for me (along with some annoyance over criticism; I can be rather thin-skinned at times). But I had gotten interested in Nyancoin, and started buying it up more and more with extra money I was making.
And then comes the crash. I had to stop putting as much in as I realized that where I was living and what I was working on wasn't going to work out for me and I needed to figure something else out. So, as I seem wont to do, I went on a roadtrip. I quit my job. And I went back for the court date for my citations and refused to pay, instead spending 10 days in jail rather than pay ~$1400 (I actually had the money in cash available to me if I chose to pay as a backup if I chickened out, but the judge annoyed me enough that I really preferred to be jailed instead of paying, as stupid as that sounds since I'm quite sure the judge didn't care in the least one way or another).
After that, I went back to roadtrip lifestyle for a while. It was a nice period. A lot of beautiful scenery; a lot of reading. Eventually, I busted up my car pretty badly...a couple times actually, the second time for good. Fast forwarding through the rest of the year, I worked a couple minimum wage jobs to pay bills and avoid cubicle life and kill some time until I figured out what I was going to do next. Just recently I quit as delivery boy after getting a speeding ticket (I swear, I'm not as horrible of a driver as this makes me sounds, although I have had a bad tendency to speed in the past, which I really have curbed to almost nothing; but I'm clearly not good enough) and am currently writing a Coin-a-Year article with a friend's incentive and applying to do documentation and development with the Nu project.
Okay, so what did any of that have to do with NYAN? Well, it's the mess of a life that has led to the fall of the price from 60 satoshi to 7 satoshi. If instead my life history for the time since the article had been simply "I was happily employed writing software", then I don't believe we would have dropped below 20 satoshi. It's easy to see in hindsight. If anyone can lend me a time machine, I'm sure I can get some condensed instructions which should improve performance significantly. Otherwise, just going to have more chalked up for the "character building" tally.
So, lessons learned if you are the major buy support for your coin: you need long-term reserves. Whatever you put in bids can be taken out in a moment by a dump for no apparent reason. This is particularly true if you may be quitting your cushy, high-paying job and wandering around without income for an extended period of time. Rather obvious, but hey, maybe someone else can learn from my mistakes. If I'd been bidding as cautiously as I am now from the beginning, I think the price would probably be somewhere from 10-20 satoshi now instead of around 7 satoshi.
It's especially unfortunate given that I wanted to be able to demonstrate the more consistent growth possible building a stable store of value, as opposed to the pump and dumps common in altcoins. And instead we had a pump-and-dump looking graph ourselves after I bid up higher than I was able to sustain, and a large (10+ nillion) instadump crashed the market all the way back down to 1 satoshi momentarily. We've had a few large (2+ nillion) dumps since, but nothing that large. We haven't generally had that large of bids though either.
It's hard to know when I've exhausted the supply at a price level, when it sometimes waits for a couple weeks or even more and then fills all the bids at once. But I want to maximize the minimum price paid because I think that's important for building confidence in a store of value long-term, which is one of my core goals for NYAN.
At the same time, we're still up from the lowest parts of the floor and where I found it. Since I own about 30% [g], the very cheapest supply has been taken off the market. I plan to keep on buying up "cheap NYAN" as much as I can. I've bought up to 60 satoshi before, I'll probably buy up that high this time around. I've got a token 100,000 NYAN ask at 300 satoshi; I hope never to sell lower.
Conclusions
Now I try to wrap it all together as if I saw this all coming and am the wise expert, despite having had about 90% drop in price in the last year after bidding too high. My original concept was taking the "minimum viable coin" and reviving it to a powerhouse as a textbook example in how to do it.
Part of my core concept in this is the arbitrariness of value: throughout history, humans have chosen any number of things as a store of value for the time: salt, large rocks, certain metals, disks, marked sticks, and so forth. While there has generally been a certain logic in the choice, in that there is a locally restricted supply in one way or another, and so forth, from the perspective of other centuries or cultures the choices can seem quite strange. Growing up, I was always struck by how strange the notion of salt being limited and valuable seemed in a world where people were trying to reduce intake and large amounts could be bought for trivial sums. And yet, a key nutrient necessary for life fundamentally makes more sense as being valuable than notched sticks or printed paper or a piece of plastic with some encoded information.
Humans have perpetually come up with stranger and stranger ways of storing and transferring value. Each new step, as always, comes with its own disadvantages and, frankly, has generally appeared nonsensical at best and fraudulent at worst to the status quo. Which doesn't mean that each new attempt is valuable. The gold bugs always like to point out that every fiat currency ultimately returns to its true value of zero. And the skeptics of cryptocurrency argue that all cryptocurrencies will eventually return to their true value of zero.
It's certainly possible. And it's possible the USD will hyperinflate someday. I tend to try the moderate view for a plausible guess of the future. By that type of logic, I would guess that over the course of decades, USD will in general lose value, and cryptocurrency will tend to slowly gain value. That might not seem the moderate view, but USD not losing value over decades would be truly shocking. And hyperinflation has been predicted since the USD went off the gold standard, or before. So some amount of inflation less than hyperinflation seems like the safe guess (but then, the Titanic arriving would also have seemed like the safe guess to me). And with cryptocurrency, I think it's clear by now the technology will continue to survive. So my first question is with what overall value as a market? It could go down, of course, but that seems unlikely in an already small, young market. Even if all the current crop die off and are replaced, whatever cryptocurrencies are around should be able to do better than a handful of billion in market cap in my view.
I believe that cryptocurrency has a bright future ahead of it. The best coins should ultimately survive and thrive. But I've been wrong on most of my major calls so far, like for instance when I thought BTC was over-priced around $5-$10.
I think Nyancoin can have an important role to play in the future of cryptocurrency in the years and decades to come, but it's a massively speculative long-shot. See also Nyancoin risks document. But like Linus Torvalds' autobiography, I try to keep "Just for Fun" as a core motto and principle. It's makes for a good hobby project because there will always be more to work on, with a core community motto of
TO INFINITY AND BEYOND!
Disclaimers / Sponsorship:
As I said before:
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
And I'll reiterate that I own about 30% [g] of the current supply of NYAN, which makes me by definition maximally biased.
Also, I'm not sure what's up with the address from the first post. It doesn't show up in my current wallet as a recognized address. So, anyhow, don't send there. :-) If you'd like to donate, please consider sponsoring a coin-a-day or coin-a-week article.
This is the first sponsored article. This Coin-a-Year article has been brought to you by spydud22 's generous patronage. I'd been meaning to do a Coin-a-Week article on Nyancoin for a while, but between wanting to "wait until the price recovered a bit" and general procrastination, then it seemed like it would make a good Coin-a-Year article, and then I wanted to wait until the price recovered a bit more...anyhow, so thank you spydud22, for causing me to finally do this. :-)
Footnotes
  • [a] nyan.space/chain/Nyancoin ; as of block 1091430, 263738786.71890615 NYAN outstanding. This is slightly over 50% more than the last report, which is what we would expect, since it had existed for about a year then, and has approximately annual halvings. The first year generated about 50% of total supply; the second year generated about 25% of total supply. We should expect in a year to have about 17% (one-sixth) more than we have now.
  • [b] https://www.cryptopia.co.nz/Exchange?market=NYAN_BTC ; this is the only market reflected in coinmarketcap and it is the primary one on which I trade. Cryptopia also has other base pairs which operate at significantly higher spreads (lower bids; higher asks) and have minimal volume. In the time since the last report, NYAN has traded as high as 60 satoshi (and briefly a little higher at times), but over the last almost twelve months since a peak about a year ago, the price has been generally declining overall, as a gross oversimplification of a lot of movements. This has been an effect of me not being able to keep buying as much and there being large dumps I wasn't expecting from time-to-time. Now I'm taking the approach of building large (one or more nillion (million NYAN)) bids on each price as I slowly work my way back up again in order to be able to handle possible dumps with less price shock.
  • [c] coinmarketcap.com/currencies/nyancoin/ ; as noted in [b], this only reflects the /BTC basepair on Cryptopia but that's where most of the volume is anyhow. Of course, the market is also not particularly liquid since I'm the primary buyer and have rather limited means currently.
  • [d] I haven't setup a script to count this yet, among many things on my to-do list for someday, so I went through by hand from what was the then-latest block of 1091430 on nyan.space back to 1089766 which was the first block generated less than 24 hours before. There was actually a three and a half hour block gap at that point, such that the next prior block was about 24 hours and 15 minutes before 1091430 while 1089766 was only about 20 hours and 45 minutes prior, and has a disproportionate number of transactions and value compared to a typical block (8 and ~313,000 NYAN respectively) from the build-up during the gap. But since that gap conveniently started right about at the start of the 24 hour period, doesn't really skew our results here.
Note that there are often times where the UTXO created during one transaction during the day is spent during a later transaction in the day. This can be considered the "same" Nyancoin being "spent" twice in the same day in our total. But in practice, I believe what's happening here is the faucet is breaking off small (10-50 NYAN) pieces from a larger (~40,000 NYAN) chunk, and so that pops up a bunch of times. So the total NYAN blockchain volume as counted for this topline number should not be interpreted as "NYAN spent in the day" but "NYAN moved on the chain", where the "same coin" can move many times. So it's a very easily gamed metric and not a strong / resistant metric like the market price tends to be (at least relatively speaking), but it's a fun number to calculate and provides a little bit of information.
The transaction count can also be easily inflated and certainly, for instance, having the faucet does generate transactions which are a very common transaction.
And this is also just an arbitrary 24 hour period compared to a previous arbitrary 24 hour period. Nonetheless, I do think there's clearly a bit more activity on the Nyanchain, even though the typical block is still empty and the number of transactions and volume is still tiny compared to the major cryptocurrencies.
Here's an arbitrary example of the faucet transactions Note the zero transaction fee, which I love that the miners support (the defaults are all quite low as well).
Here's an example of what may be the smallest transaction by NYAN volume of the day; but no, I followed its small, spent output, and it led to this gem which also links to this. I have no idea what's going on here, but it's hilarious and I love it. How's that for microtransaction support? :-)
  • [e] Obviously Cryptsy went down. We had had more than enough red flags with Cryptsy (including one time where I was able to withdraw 6 nillion more than I had in my balance) and got onto Cryptopia. spydud22 basically accomplished that for us, although I helped out in the tail end of the campaigning.
  • [f] Our community is still small (I wish there were literally dozens of us!) but we've had valuable activity from multiple people, including, just as highlights, vmp32k who hosts nyan.space, a clone of the original nyancha.in, jwflame who created the excellent nyancoin.info intro site, with the awesome status page (which currently notes that "the last 500 blocks actually took 111 minutes, which is approaching the speed of light, causing the universe to become unstable"), KojoSlayer who runs the faucet and dice, spydud22 who got us on Cryptopia, and many other Nekonauts have made worthy contributions, and the Nekonauts mentioned have done more than just that listed. So while we are small, we are active at least from time to time and technically capable.
Even though our posting rate is still around 1 post a day or so on average, and so still a relatively quiet subreddit (and it is our main (only?) hub), it's still a very noticeable and significant difference from how /nyancoins looked when I was reviewing it for the original piece here. Here's an attempt to approximate what was there using Reddit search ; archive.org has a snapshot on January 19th, 2015, which is well into the early revival mania and one from August 14th, 2014, before four and a half months of little to no activity. Apparently archive.org unsubscribed to /nyancoins in that interval itself...
  • [g] Maybe up to around 35% by now; maybe still around 30%. I haven't updated hodling report lately; it was 30% last time I recall, but I've bought more and more has been made since.
submitted by coinaday to CryptoCurrency [link] [comments]

Historical Corrections [with source]

List of bubbles representing a 45% or greater correction since the dawn of bitcoin. Note the the time it took to correct the correction.
Top Date Bottom Date % Drop Time to new ATH
$0.36 11/6/2010 $0.19 12/9/2010 47.22% 2.23 mo
$29.58 6/8/2011 $2.14 11/17/2011 92.77% 20.43 mo
$213.72 4/8/2013 $65.39 4/15/2013 69.40% 6.82 mo
$1,132.26 11/28/2013 $198.59 1/13/2015 82.46% 38.75 mo
$19,498.63 12/17/2017 $9,017.41 1/17/2018 53.75% TBD
ATH $19,498.63 @ 12/17/2017
1 MIL USD invested poorly (buy top / sell bottom) = $947.59
5 BTC from an early faucet HODL'd till last bottom = $45,087.05
5 BTC from an early faucet invested wisely (sell top / buy bottom) = $102,885,055.93
Toy github repo: https://github.com/brianddk/bubble-count
submitted by brianddk to CryptoCurrency [link] [comments]

[uncensored-r/CryptoCurrency] Coin-a-Year: Raiblocks

The following post by coinaday is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7o66q0
The original post's content was as follows:
Howdy, folks! ?Welcome back to the show that never ends!?
I've decided it's high time I did a Coin-a-Year on Raiblocks. This is a special feature I do to recycle old material revisit past coins I've covered of special note a year or more later. I originally posted my Coin-a-Day feature about Raiblocks on this subreddit March 7th, 2016; it didn't get much attention then, but I have a strange feeling people might be slightly interested to see the difference now.
Below is the original report. I'll strike out what is wrong now, and add [bracketed notes] for updated commentary.
I'm no expert on the current state of Rai by any means. I'd honestly thought the coin was dead later in 2016; just didn't check back into it. And now here we are.
Bias note: I got a significant bit of Rai from the original faucet. I have sold a fraction of that this year but still have a lot of it. I'm biased both by holding it and from selling it.
Hello, y'all! I saw a comment pointing to this coin as being designed for free transactions, which is a core interest to me, so I decided to look into it a little bit and do a write-up. Enjoy!
Summary
Today's coin is Raiblocks (RAIXRB), which are designed to support free transactions and no block rewards. The coins will be initially distributed by a CAPTCHA controlled faucet with an annual halving rate.
[Faucet now closed.]
Initial creation: October 15th, 2015 [1]
Coin supply: 4.8 x 1012 rai current supply in circulation; 3.4 x 1014 rai maximum supply [2]
[XRB is the new standard base unit which was Mrai before (and still I suppose). Also, supply is distributed. So we now have about 133 million XRB as the outstanding and max supply.]
All-time high: Not yet traded as far as I know. [3]
[About $37.5 or 0.0028 per CMC max so far, about two days ago]
Current price: Not yet traded as far as I know. [3]
[Depending on the exchange and moment, somewhere around $30-35 currently or about 0.002-0.0022 BTC]
Current market cap: Not yet traded as far as I know. [3]
[Somewhere around $4 billion]
Block rate (average): Unlimited [4]
Transaction rate: ? [5]
[I'm too lazy to find this right now. Maybe someone will chime in with it in the comments.]
Transaction limit (currently): None [6]
Transaction cost: Free [7]
Rich list: ? [8]
[https://raiblocks.net/page/frontiers.php - Top 100 own ~63%]
Exchanges: None yet. [3]
[Bitgrail and Mercatox have been the two main. Kucoin just added it and Binance has it in its voting which is ending shortly.]
Processing method: Proof-of-stake [9]
[Above refers I believe to dispute resolution (double spend). There's also a minor PoW for send/receive.]
Distribution method: Faucet [10]
Community: New-born [11]
[Fairly strong and growing. Good memes. Slightly drunk on euphoria currently.]
Code/development: Active development at https://github.com/clemahieu/raiblocks
Leadership: Colin LeMahieu
Innovation or special feature: Protocol designed without a limited throughput or block rate, as well as not supporting block rewards nor transaction fees.
Description
Raiblocks is, as far as I know, the first cryptocurrency designed from its start to not support any block reward or transaction fee. In addition, it has no block size or rate limit. Further, all coins will be initially distributed through a captcha-controlled faucet on the main site. It's a bold attempt, going against the conventional wisdom of what is possible.
Edit: I should mention a couple things. First, there is a PoW attached to transactions as an anti-spam defense. This PoW can be attached by the recipient rather than the sender as well, which means that large automated sends could be done without the PoW if needed and the recipient could attach that.
Also, the natural question coming from how all the rest of the cryptocurrencies work is "how does it work without an incentive to run a node?" The idea presented in the whitepaper is basically that operating a cryptocurrency has a lot of expenses, and most of them are paid "out-of-band", so why not have funding nodes be that way too? It leaves it open to whatever other incentives there may be, of which the most obvious are first: that there are only full nodes so far, so if one wants to use the coin, then one is going to run a node. More long-term, even after SPV, presumably large holders might choose to operate one regardless. Someday, if merchants accept it, they would presumably run one. And enthusiasts. It sounds very tenuous, and this is why this is such an audacious attempt in my opinion.
After six months running, the number I heard for the blockchain size was about 20 MB, which is insanely small, but the coin has gotten so little attention that I suspect there hasn't been significant load yet. I'm very curious to see how it will perform under load. I think its design actually makes it more efficient when there aren't transactions, because nothing is added to the blockchain (actually termed block lattice here, but using blockchain generically to refer to any cryptocurrency's core data), unlike in the conventional / Bitcoin model where blocks are being generated whether or not there are transactions in them. Of course that doesn't matter much when there are tons of transactions, as on Bitcoin currently, but, for instance, in Nyancoin, we accumulate tons of empty blocks all the time, where Raiblocks would just wait for more transactions. However, again, under load perhaps it could start growing "too quickly" by some metric, or eventually reach the point where it starts losing users because of the requirements of running a full node.
I think it will be very interesting to see how this turns out in practice.
[And it's certainly going to be interesting to see how it goes. So far, it's still working. Which is better than I'd hoped or expected.]
Community
The coin is relatively young but even for a young coin it's not a huge community. But there is clear discussion and interest both on BCT and on their Google Group. It looks like a healthy start to me.
[As per my comment above: Fairly strong and growing. Good memes. Slightly drunk on euphoria currently. Seems well-intentioned generally: looking to try to have some caution mixed in and putting up a bug bounty and that sort of thing. Still has a little bit of some of the common negative characteristics in crypto communities but this may be due to growth from outside communities overwhelming the local culture temporarily more than anything.]
Footnotes
[1] https://bitcointalk.org/index.php?topic=1208830.0 - Initial announcement, didn't get much attention apparently. Also, this thread mentions a built-in block-explorer with a rich list. I don't have a working client to access this at the moment but that's pretty cool.
[2] There are 2128 total units, and a rai is 1024 total units, so total supply should be about 3.4 x 1014. https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining Distribution has been going since about November 2015, so I would expect about one-third of the initial 50% to be distributed. The block explorer seems pretty primitive; it just takes a hash. No overall stats. So I'll use that one-third of the initial 50% estimate. So about 5.7 x 1013. Note by comparison that the faucet gives 108 coins at a time currently.
Actually, this comment puts the amount of rai in circulation as 4,763,023...that can't be right, that many Mrai I think? Yeah, 1030 stated as divider there. So 4.8 x 1012 rai in current circulation.
[3] https://groups.google.com/forum/#!topic/raiblocks/PSbX_onjLfU - This topic discusses it a bit. Also comments from meor in this thread
However, I have also paid 100 NYAN for 100 Mrai. This is basically a test transaction, but 1 NYAN for 1 Mrai (106 rai) would imply a marketcap of 4.8 million NYAN, or about 0.34 BTC in current circulation. I had initially thought this was higher before recalculating with the actual amount circulating as per [2]; may also have screwed up the math initially or here.
[4] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - whitepaper ; each transaction could be thought of as its own block if I am grokking this right. It goes through as fast as the network can handle it. There is no fixed interval or period.
[5] I believe https://raiblocks.net/#/block-explorer is the only block explorer so far and it only supports entering a hash, so I don't have a way to determine the transactions in the last 24 hours.
[6] ...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Blackcoin Q4 2014 Survey Results, answers to the suggestions and other information.

Hello everyone,
Late last year we did the Q4 - 2014 Survey. You can view the results here.
I should mention that the Q1 - 2015 Survey will be following shortly. Please use the suggestions, they really help. Also, we will be having a separate Blackcoin product feedback survey as well.
The statistics were very interesting to see. We also have learned a lot about the community and what to focus on in terms of what the community needs and wants in this last survey.
After studying the results, we have came up with a few conclusions and I will like to list what we have / will be doing to improve everything. I hope this provides insight on where we are with everything so far.
Please respond below with how else we can improve.
-=-=-=-=-=-=-=-
PROBLEMS FROM STATISTICS
Obviously, we need to push for more community involvement and show others that we are the best option for digital currencies out there. This can be done through more awareness and visibility on the websites where everyone is. We will be doing research into where exactly everyone is and how we can tap into these areas inside and outside of the digital currency scene.
The only obvious way is to increase incentive. If anyone remembers of our last staking promotion, we are planning on creating a bot that will constantly feed the blockchain with Blackcoin to give a higher reward and promote better distribution. This is entirely voluntary and we aim to have it as a sort of automatic faucet that everyone who stakes will be a part of.
We need to give incentive for those lurking to come out of the wood work and provide their own comments and feedback. This can be done through community building activities. Everyone is welcome here, don't be shy.
This obviously will change over time. We are planning on talking to merchants and having a different merchant per week do a sale specifically for Blackcoin users.
SUGGESTIONS FROM COMMENTS
Android support is now here! Not only that, blackcoinj is now here! iOS is a bit more difficult as the likelyhood of it not being allowed is a real possibility. This is mainly because Apple specifically only allows for Bitcoin applications.
This will come in time after more liquidity comes our way. We do actively speak and chat with all large exchanges and maintain healthy relationships. Hopefully we can secure USD markets soon.
PR is an ever constant battle. There has been many leads and articles that have been done that never been published. It gets to the point of it being really frustrating as 70% of your energy dissipates into nothing. However, we don't ever stop with the PR.
This is something I have had on my books for a while now, been wanting to do this for a while. For now, we now have the Weekly Digest here on Reddit but we wish to expand this further into a weekly newsletter that will be available through Reddit and your e-mail.
This is something that we also want to do. We need more community ambassadors, most have been recognised and are helping us in every way possible.
This is absolutely needed. We will be adding a section on blackcoin.co with a list of everything that the community has worked on, with appropriate links linking everyone to those projects. It is hard to keep up with everything these days.
Being more user friendly is always a constant battle towards simplicity. Now that the technology is maturing, you can see that others have started on making everything more user friendly. Also, more technology is being worked on to make the process simpler. For example, with BitHalo we now have templates which will guide anyone into creating an easy contract.
What I would love is for a solution for easily buying Blackcoin. There is digital currency retailers such as ExpressCoin, Anycoin Direct, and LiteBit.eu but it would be better if we had an easy 1, 2, 3 option as well and Blackcoin centered.
I have seen this suggested many times. I have also attempted this multiple times, finely plotting everything out. However, getting information from individuals and companies can be difficult. So with that, since everything is basically "It will be ready when it is ready", it is proving difficult to create an accurate roadmap to satisfy everyone.
So with that, since all development is out of foundation's hands we are leaving it to individuals to provide their own roadmaps if they so choose. We will however provide as much information as we can about each project and get it all in 1 place on blackcoin.co.
Blackcoin is not just 1 centralised team as is the case with other coins where they have to provide roadmaps that the core team is working on. We are beyond that. We have real teams, companies, and individuals working on this coin outside of the core.
-=-=-=-=-=-=-=-
Thanks for reading, please leave your opinions, questions, comments below.
submitted by Grittenald to blackcoin [link] [comments]

Coin-a-Day: Raiblocks

Hello, y'all! I saw a comment pointing to this coin as being designed for free transactions, which is a core interest to me, so I decided to look into it a little bit and do a write-up. Enjoy!
Summary
Today's coin is Raiblocks (RAI), which are designed to support free transactions and no block rewards. The coins will be initially distributed by a CAPTCHA controlled faucet with an annual halving rate.
Initial creation: October 15th, 2015 [1]
Coin supply: 4.8 x 1012 rai current supply in circulation; 3.4 x 1014 rai maximum supply [2]
All-time high: Not yet traded as far as I know. [3]
Current price: Not yet traded as far as I know. [3]
Current market cap: Not yet traded as far as I know. [3]
Block rate (average): Unlimited [4]
Transaction rate: ? [5]
Transaction limit (currently): None [6]
Transaction cost: Free [7]
Rich list: ? [8]
Exchanges: None yet. [3]
Processing method: Proof-of-stake [9]
Distribution method: Faucet [10]
Community: New-born [11]
Code/development: Active development at https://github.com/clemahieu/raiblocks
Leadership: Colin LeMahieu
Innovation or special feature: Protocol designed without a limited throughput or block rate, as well as not supporting block rewards nor transaction fees.
Description
Raiblocks is, as far as I know, the first cryptocurrency designed from its start to not support any block reward or transaction fee. In addition, it has no block size or rate limit. Further, all coins will be initially distributed through a captcha-controlled faucet on the main site. It's a bold attempt, going against the conventional wisdom of what is possible.
Edit: I should mention a couple things. First, there is a PoW attached to transactions as an anti-spam defense. This PoW can be attached by the recipient rather than the sender as well, which means that large automated sends could be done without the PoW if needed and the recipient could attach that.
Also, the natural question coming from how all the rest of the cryptocurrencies work is "how does it work without an incentive to run a node?" The idea presented in the whitepaper is basically that operating a cryptocurrency has a lot of expenses, and most of them are paid "out-of-band", so why not have funding nodes be that way too? It leaves it open to whatever other incentives there may be, of which the most obvious are first: that there are only full nodes so far, so if one wants to use the coin, then one is going to run a node. More long-term, even after SPV, presumably large holders might choose to operate one regardless. Someday, if merchants accept it, they would presumably run one. And enthusiasts. It sounds very tenuous, and this is why this is such an audacious attempt in my opinion.
After six months running, the number I heard for the blockchain size was about 20 MB, which is insanely small, but the coin has gotten so little attention that I suspect there hasn't been significant load yet. I'm very curious to see how it will perform under load. I think its design actually makes it more efficient when there aren't transactions, because nothing is added to the blockchain (actually termed block lattice here, but using blockchain generically to refer to any cryptocurrency's core data), unlike in the conventional / Bitcoin model where blocks are being generated whether or not there are transactions in them. Of course that doesn't matter much when there are tons of transactions, as on Bitcoin currently, but, for instance, in Nyancoin, we accumulate tons of empty blocks all the time, where Raiblocks would just wait for more transactions. However, again, under load perhaps it could start growing "too quickly" by some metric, or eventually reach the point where it starts losing users because of the requirements of running a full node.
I think it will be very interesting to see how this turns out in practice.
Community
The coin is relatively young but even for a young coin it's not a huge community. But there is clear discussion and interest both on BCT and on their Google Group. It looks like a healthy start to me.
Footnotes
[1] https://bitcointalk.org/index.php?topic=1208830.0 - Initial announcement, didn't get much attention apparently. Also, this thread mentions a built-in block-explorer with a rich list. I don't have a working client to access this at the moment but that's pretty cool.
[2] There are 2128 total units, and a rai is 1024 total units, so total supply should be about 3.4 x 1014. https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining Distribution has been going since about November 2015, so I would expect about one-third of the initial 50% to be distributed. The block explorer seems pretty primitive; it just takes a hash. No overall stats. So I'll use that one-third of the initial 50% estimate. So about 5.7 x 1013. Note by comparison that the faucet gives 108 coins at a time currently.
Actually, this comment puts the amount of rai in circulation as 4,763,023...that can't be right, that many Mrai I think? Yeah, 1030 stated as divider there. So 4.8 x 1012 rai in current circulation.
[3] https://groups.google.com/forum/#!topic/raiblocks/PSbX_onjLfU - This topic discusses it a bit. Also comments from meor in this thread
However, I have also paid 100 NYAN for 100 Mrai. This is basically a test transaction, but 1 NYAN for 1 Mrai (106 rai) would imply a marketcap of 4.8 million NYAN, or about 0.34 BTC in current circulation. I had initially thought this was higher before recalculating with the actual amount circulating as per [2]; may also have screwed up the math initially or here.
[4] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - whitepaper ; each transaction could be thought of as its own block if I am grokking this right. It goes through as fast as the network can handle it. There is no fixed interval or period.
[5] I believe https://raiblocks.net/#/block-explorer is the only block explorer so far and it only supports entering a hash, so I don't have a way to determine the transactions in the last 24 hours.
[6] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - The protocol is designed without a limit if I understand correctly.
[7] https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - The protocol is designed without transaction fees or block rewards.
[8] As per [5], the block explorer does not support this. There area couple addresses known to be the initial generation which will go into the faucet, but beyond that I don't know the distribution. There's supposed to be a rich list available in the built-in explorer, but I was unable to get a client running on my out-of-date systems (32-bit Windows (64-bit Windows client only), and CentOS 6 (glibc too old)).
[9] In general all full nodes are maintaining their own copies of all the information, but as I understand it the dispute resolution is based on voting by ownership of rai.
[10] All rai will be distributed through https://raiblocks.net/#/start as per https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining
[11] There's been some discussion on BCT as well as on the google group: https://groups.google.com/forum/#!forum/raiblocks ; there's a new subreddit /raiblocks, but it's still set on private for some reason at the time of writing this footnote (just wrote a comment to meor noting this).
Further reading
https://raiblocks.net - Main site
https://github.com/clemahieu/raiblocks - Repo with documentation on the github wiki.
https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - whitepaper
https://groups.google.com/forum/#!topic/raiblocks - Google group
https://bitcointalk.org/index.php?topic=1219264.0 - Block lattice discussion
Disclosure, disclaimer
Disclosure: I have made an agreement to purchase 100 Mrai and have paid 100 NYAN for this. I have no other financial interest in Raiblocks currently, but I do intend to get a client ultimately (my current OSes are incompatible from being too old (one is 32-bit Windows; other CentOS 6 with too old glibc)) and get free coins from the faucet and play with this more.
Disclaimer: This writing is intended for edutainmental purposes only. Any accurate information conveyed is purely incidental. No warranty of fitness for any fit purposes is implied. This column known to the State of California to cause cancer. Cave canum. Carpe carp. Caveat lector.
Up next:
Tell me what coin to write about next by sponsoring an article! A sponsored article would likely have more discussion than I did here, and less than my Coin-a-Year report on Nyancoin.
Edit: /RaiBlocks is now public! New subreddit, but hopefully it'll build up a bit over time. :-)
Edit 2: Added more than the stub discussion discussion section I'd initially done.
submitted by coinaday to CryptoCurrency [link] [comments]

I updated VirtaEarn with actual information

I updated VirtaEarn with actual information. And suggest to all community members update their websites.
Due BitCoin price rising a large of BTC faucets is down or pay very little. So I suggest to use Xapo faucets Because payout is direct to you wallet and you and don't need to wait a week for payout. And you don't need to fear that faucet go bankrupt and you don't receive your payout.
I updated Faucet List and Faucet Rotator with new and paying faucets.
Coinwallet.co.th offer is still open and you can earn some VirtaCoin by BTC2VTA converter. But not 145 000 due VirtaCoin price rising. If still don't completed you can check on first VirtaEarn post to learn how to do that. And you should to verify your ID.
From other earning options I suggest to complete all Tasks from last VirtaEarn post ( If already don't competed)
Surf and Earn VirtaCoin from Mousetraptraffic and learn to play VirtaCrypto.
Crack your first code at VirtaCrypto. Send the solution and your VirtaCoin Online Wallet address to [email protected] and put 'VIRTACRYPTO' in the subject. If you successfully complete this task you will receive 5000 Virtacoins in your Virtacoin wallet.
You can also earn 500 VirtaCoin every day on VirtaCrypto.
I see big potential on VirtaCrypto and I'm willing to promote it hard. So you, John, can add some ads to this page to earn a little money (you can also use this page for 1-2-3 campaign ads).
Don't have a lot of free time. But I know that there are people who still want to Earn VirtaCoin Free. Still researching for other VirtaCoin earning options.
Thank you to all active community members here!
submitted by nissannassin to VirtaCoinFoundation [link] [comments]

FREE Bitcoin faucet collector Лучший Биткоин кран 2015 года! (Best Bitcoin Faucet 2015) PayToshi Faucet List - NEW Bitcoin Faucets 2015 - Mezzabank Earn free bitcoin from top bitcoin faucet sites - YouTube

Welcome to my site faucetbitcoin.jimdo.com! You can easily collect 50,000 Satoshi per hour.The entire list of Bitcoin faucets going by me personally. Good earnings Moon Bitcoin Faucet When you tick the Run mining bonus checkbox we will run a background POW mining process in your browser. Later when you make a faucet claim we will calculate an extra bonus of up to 100% on your faucet claim! The bonus amount is based on how much hashing power you have contributed while the mining process was running, so to maximize your bonus you must leave the Moon ... Faucet Bitcoin faucet NaMaidani Bitcoins43 Faucet – Paying since 2015 Owned by bitcoins43 therefore you cannot view the remaining 395 faucets on our Top Faucet list. Faucet List Updated On 8th April 2018 CLICK TO CHECK PAYMENT PROOF Bitcoin faucet list 2018 Bitcoin is going to be the most valuable currency in 2018. Year 2018 started and Bitcoin is ready to break all records. About Bitcoin -How to have bitcoin account - Big list of Bitcoin Faucet - Games - Daily Task. Selasa, 17 November 2015. DogeCoin Faucet. For some reason, now I use DogeCoin too. Some mining service also offer free DogeCoin as a welcome bonus. That bonus can be used to buy GHS. So I use some DogeCoin Faucet and transfer DogeCoin balance from my wallet to Miners and use it to buy GHS. Some ... Faucet List. Bitcoin; Ethereum; Dogecoin; Litecoin; Bitcoin Cash; Dash; DigiByte; Tron # Name Total Paid This Week Total Paid Today Total Users Paid Today Upvotes Health Review View; CoinDragon.com Casino: Rain 💰, Refer-a-friend 💰💰 Sponsored: View 🌟Better than faucets - WORLDWIDE tasks! Sponsored: View: Mine Your First Crypto. START NOW Sponsored: View: Earn 2% on your investment ...

[index] [19203] [39675] [14225] [45671] [19017] [12796] [29833] [41894] [28340] [42868]

FREE Bitcoin faucet collector

#paytoshi #bitcoin #fintech Paytoshi BitCoin Faucet List https://satoshinet.com/BitCoinFaucetList/paytoshi.php This video is unavailable. Watch Queue Queue. Watch Queue Queue http://coinsurf.tk CoinSurf Multi Coin Faucet Rotator Updated Every Day Without Ads Totally Free! ----- free bitcoins 2015 bitcoin faucet list bitcoin updated faucet ... Skip navigation Sign in. Search Tibetan Healing Sounds: Cleans the Aura and Space. Removes all negative energy - Duration: 34:20. Meditation & Relaxation - Music channel Recommended for you

#