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NiceHash - buy & sell hashing power

NiceHash offers you to buy or sell hashing power directly, no contracts, no limitations, pay-as-you-go if you're a buyer and be-paid-as-you-go if you're a seller. Why bother renting rigs, when you can rent hashing power? NiceHash brings more to renters and rig owners. Visit https://www.nicehash.com today! Simply create order and you are already mining your favorite coin or point your rig to our stratum server and you are already earning bitcoins.
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CryptoSobStories - You could be a millionaire by now

You bought a Pizza for 10,000 BTC? You lost big in a collapsed exchange? You sold a shitcoin with loss to see how it exploded the next day? You missed 1000+1 occasions? You sold your retirement money for the biggest cryptoscam in history? You are not alone! Share your story and find relief from your fellow cryptosobbers! Found stories are also fine.
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03-05 17:39 - 'Coinbase - How to Find your Bitcoin wallet address' (youtube.com) by /u/eaglebittrade removed from /r/Bitcoin within 21-31min

Coinbase - How to Find your Bitcoin wallet address
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Author: eaglebittrade
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Coinbase - How to Find your Bitcoin wallet address

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Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Technical: Confidential Transactions and Their Implementation Tradeoffs

As requested by estradata here: https://old.reddit.com/Bitcoin/comments/iylou9/what_are_some_of_the_latest_innovations_in_the/g6heez1/
It is a general issue that crops up at the extremes of cryptography, with quantum breaks being just one of the extremes of (classical) cryptography.

Computational vs Information-Theoretic

The dichotomy is between computationally infeasible vs informationally-theoretic infeasible. Basically:
Quantum breaks represent a possible reduction in computational infeasibility of certain things, but not information-theoretic infeasibility.
For example, suppose you want to know what 256-bit preimages map to 256-bit hashes. In theory, you just need to build a table with 2256 entries and start from 0x0000000000000000000000000000000000000000000000000000000000000000 and so on. This is computationally infeasible, but not information-theoretic infeasible.
However, suppose you want to know what preimages, of any size, map to 256-bit hashes. Since the preimages can be of any size, after finishing with 256-bit preimages, you have to proceed to 257-bit preimages. And so on. And there is no size limit, so you will literally never finish. Even if you lived forever, you would not complete it. This is information-theoretic infeasible.

Commitments

How does this relate to confidential transactions? Basically, every confidential transaction simply hides the value behind a homomorphic commitment. What is a homomorphic commitment? Okay, let's start with commitments. A commitment is something which lets you hide something, and later reveal what you hid. Until you reveal it, even if somebody has access to the commitment, they cannot reverse it to find out what you hid. This is called the "hiding property" of commitments. However, when you do reveal it (or "open the commitment"), then you cannot replace what you hid with some other thing. This is called the "binding property" of commitments.
For example, a hash of a preimage is a commitment. Suppose I want to commit to something. For example, I want to show that I can predict the future using the energy of a spare galaxy I have in my pocket. I can hide that something by hashing a description of the future. Then I can give the hash to you. You still cannot learn the future, because it's just a hash, and you can't reverse the hash ("hiding"). But suppose the future event occurs. I can reveal that I did, in fact, know the future. So I give you the description, and you hash it and compare it to the hash I gave earlier. Because of preimage resistance, I cannot retroactively change what I hid in the hash, so what I gave must have been known to me at the time that I gave you the commitment i..e. hash ("binding").

Homomorphic Commitments

A homomorphic commitment simply means that if I can do certain operations on preimages of the commitment scheme, there are certain operations on the commitments that would create similar ("homo") changes ("morphic") to the commitments. For example, suppose I have a magical function h() which is a homomorphic commitment scheme. It can hide very large (near 256-bit) numbers. Then if h() is homomorphic, there may be certain operations on numbers behind the h() that have homomorphisms after the h(). For example, I might have an operation <+> that is homomorphic in h() on +, or in other words, if I have two large numbers a and b, then h(a + b) = h(a) <+> h(b). + and <+> are different operations, but they are homomorphic to each other.
For example, elliptic curve scalars and points have homomorphic operations. Scalars (private keys) are "just" very large near-256-bit numbers, while points are a scalar times a standard generator point G. Elliptic curve operations exist where there is a <+> between points that is homomorphic on standard + on scalars, and a <*> between a scalar and a point that is homomorphic on standard * multiplication on scalars.
For example, suppose I have two large scalars a and b. I can use elliptic curve points as a commitment scheme: I can take a <*> G to generate a point A. It is hiding since nobody can learn what a is unless I reveal it (a and A can be used in standard ECDSA private-public key cryptography, with the scalar a as the private key and the point A as the public key, and the a cannot be derived even if somebody else knows A). Thus, it is hiding. At the same time, for a particular point A and standard generator point G, there is only one possible scalar a which when "multiplied" with G yields A. So scalars and elliptic curve points are a commitment scheme, with both hiding and binding properties.
Now, as mentioned there is a <+> operation on points that is homomorphic to the + operation on corresponding scalars. For example, suppose there are two scalars a and b. I can compute (a + b) <*> G to generate a particular point. But even if I don't know scalars a and b, but I do know points A = a <*> G and B = b <*> G, then I can use A <+> B to derive (a + b) <*> G (or equivalently, (a <*> G) <+> (b <*> G) == (a + b) <*> G). This makes points a homomorphic commitment scheme on scalars.

Confidential Transactions: A Sketch

This is useful since we can easily use the near-256-bit scalars in SECP256K1 elliptic curves to easily represent values in a monetary system, and hide those values by using a homomorphic commitment scheme. We can use the hiding property to prevent people from learning the values of the money we are sending and receiving.
Now, in a proper cryptocurrency, a normal, non-coinbase transaction does not create or destroy coins: the values of the input coins are equal to the value of the output coins. We can use a homomorphic commitment scheme. Suppose I have a transaction that consumes an input value a and creates two output values b and c. That is, a = b + c, i.e. the sum of all inputs a equals the sum of all outputs b and c. But remember, with a homomorphic commitment scheme like elliptic curve points, there exists a <+> operation on points that is homomorphic to the ordinary school-arithmetic + addition on large numbers. So, confidential transactions can use points a <*> G as input, and points b <*> G and c <*> G as output, and we can easily prove that a <*> G = (b <*> G) <+> (c <*> G) if a = b + c, without revealing a, b, or c to anyone.

Pedersen Commitments

Actually, we cannot just use a <*> G as a commitment scheme in practice. Remember, Bitcoin has a cap on the number of satoshis ever to be created, and it's less than 253 satoshis, which is fairly trivial. I can easily compute all values of a <*> G for all values of a from 0 to 253 and know which a <*> G corresponds to which actual amount a. So in confidential transactions, we cannot naively use a <*> G commitments, we need Pedersen commitments.
If you know what a "salt" is, then Pedersen commitments are fairly obvious. A "salt" is something you add to e.g. a password so that the hash of the password is much harder to attack. Humans are idiots and when asked to generate passwords, will output a password that takes less than 230 possibilities, which is fairly easy to grind. So what you do is that you "salt" a password by prepending a random string to it. You then hash the random string + password, and store the random string --- the salt --- together with the hash in your database. Then when somebody logs in, you take the password, prepend the salt, hash, and check if the hash matches with the in-database hash, and you let them log in. Now, with a hash, even if somebody copies your password database, the can't get the password. They're hashed. But with a salt, even techniques like rainbow tables make a hacker's life even harder. They can't hash a possible password and check every hash in your db for something that matches. Instead, if they get a possible password, they have to prepend each salt, hash, then compare. That greatly increases the computational needs of a hacker, which is why salts are good.
What a Pedersen commitment is, is a point a <*> H, where a is the actual value you commit to, plus <+> another point r <*> G. H here is a second standard generator point, different from G. The r is the salt in the Pedersen commitment. It makes it so that even if you show (a <*> H) <+> (r <*> G) to somebody, they can't grind all possible values of a and try to match it with your point --- they also have to grind r (just as with the password-salt example above). And r is much larger, it can be a true near-256-bit number that is the range of scalars in SECP256K1, whereas a is constrained to "reasonable" numbers of satoshi, which cannot exceed 21 million Bitcoins.
Now, in order to validate a transaction with input a and outputs b and c, you only have to prove a = b + c. Suppose we are hiding those amounts using Pedersen commitments. You have an input of amount a, and you know a and r. The blockchain has an amount (a <*> H) <+> (r <*> G). In order to create the two outputs b and c, you just have to create two new r scalars such that r = r[0] + r[1]. This is trivial, you just select a new random r[0] and then compute r[1] = r - r[0], it's just basic algebra.
Then you create a transaction consuming the input (a <*> H) <+> (r <*> G) and outputs (b <*> H) <+> (r[0] <*> G) and (c <*> H) <+> (r[1] <*> G). You know that a = b + c, and r = r[0] + r[1], while fullnodes around the world, who don't know any of the amounts or scalars involved, can just take the points (a <*> H) <+> (r <*> G) and see if it equals (b <*> H) <+> (r[0] <*> G) <+> (c <*> H) <+> (r[1] <*> G). That is all that fullnodes have to validate, they just need to perform <+> operations on points and comparison on points, and from there they validate transactions, all without knowing the actual values involved.

Computational Binding, Information-Theoretic Hiding

Like all commitments, Pedersen Commitments are binding and hiding.
However, there are really two kinds of commitments:
What does this mean? It's just a measure of how "impossible" binding vs hiding is. Pedersen commitments are computationally binding, meaning that in theory, a user of this commitment with arbitrary time and space and energy can, in theory, replace the amount with something else. However, it is information-theoretic hiding, meaning an attacker with arbitrary time and space and energy cannot figure out exactly what got hidden behind the commitment.
But why?
Now, we have been using a and a <*> G as private keys and public keys in ECDSA and Schnorr. There is an operation <*> on a scalar and a point that generates another point, but we cannot "revrese" this operation. For example, even if I know A, and know that A = a <*> G, but do not know a, I cannot derive a --- there is no operation between A G that lets me know a.
Actually there is: I "just" need to have so much time, space, and energy that I just start counting a from 0 to 2256 and find which a results in A = a <*> G. This is a computational limit: I don't have a spare universe in my back pocket I can use to do all those computations.
Now, replace a with h and A with H. Remember that Pedersen commitments use a "second" standard generator point. The generator points G and H are "not really special" --- they are just random points on the curve that we selected and standardized. There is no operation H G such that I can learn h where H = h <*> G, though if I happen to have a spare universe in my back pocket I can "just" brute force it.
Suppose I do have a spare universe in my back pocket, and learn h = H G such that H = h <*> G. What can I do in Pedersen commitments?
Well, I have an amount a that is committed to by (a <*> H) <+> (r <*> G). But I happen to know h! Suppose I want to double my money a without involving Elon Musk. Then:
That is what we mean by computationally binding: if I can compute h such that H = h <*> G, then I can find another number which opens the same commitment. And of course I'd make sure that number is much larger than what I originally had in that address!
Now, the reason why it is "only" computationally binding is that it is information-theoretically hiding. Suppose somebody knows h, but has no money in the cryptocurrency. All they see are points. They can try to find what the original amounts are, but because any amount can be mapped to "the same" point with knowledge of h (e.g. in the above, a and 2 * a got mapped to the same point by "just" replacing the salt r with r - a * h; this can be done for 3 * a, 4 * a etc.), they cannot learn historical amounts --- the a in historical amounts could be anything.
The drawback, though, is that --- as seen above --- arbitrary inflation is now introduced once somebody knows h. They can multiply their money by any arbitrary factor with knowledge of h.
It is impossible to have both perfect hiding (i.e. historical amounts remain hidden even after a computational break) and perfect binding (i.e. you can't later open the commitment to a different, much larger, amount).
Pedersen commitments just happen to have perfect hiding, but only computationally-infeasible binding. This means they allow hiding historical values, but in case of anything that allows better computational power --- including but not limited to quantum breaks --- they allow arbitrary inflation.

Changing The Tradeoffs with ElGamal Commitments

An ElGamal commitment is just a Pedersen commitment, but with the point r <*> G also stored in a separate section of the transaction.
This commits the r, and fixes it to a specific value. This prevents me from opening my (a <*> H) <+> (r <*> G) as ((2 * a) <*> H) <+> ((r - a * h) <*> G), because the (r - a * h) would not match the r <*> G sitting in a separate section of the transaction. This forces me to be bound to that specific value, and no amount of computation power will let me escape --- it is information-theoretically binding i.e. perfectly binding.
But that is now computationally hiding. An evil surveillor with arbitrary time and space can focus on the r <*> G sitting in a separate section of the transaction, and grind r from 0 to 2256 to determine what r matches that point. Then from there, they can negate r to get (-r) <*> G and add it to the (a <*> H) <+> (r <*> G) to get a <*> H, and then grind that to determine the value a. With massive increases in computational ability --- including but not limited to quantum breaks --- an evil surveillor can see all the historical amounts of confidential transactions.

Conclusion

This is the source of the tradeoff: either you design confidential transactions so in case of a quantum break, historical transactions continue to hide their amounts, but inflation of the money is now unavoidable, OR you make the money supply sacrosanct, but you potentially sacrifice amount hiding in case of some break, including but not limited to quantum breaks.
submitted by almkglor to Bitcoin [link] [comments]

Your Choice To Make

TL;DR: Wakey wakey, give a crap about freedom, or accept the consequences.
Another Sunday afternoon, another news item about Monero being delisted from a centralized exchange, this time in Australia.
Last year it was OKEx and others.
Just a few days ago it was Coinspot.
It is sort of an open secret that Coinbase is not listing Monero due to external pressures. Today we're hit with news that Kraken will be ceasing Monero trading for AU residents.
And you will also recall that Japan and South Korea have made similar moves.
It's a near impossibility with me, especially when powered by caffeine, which is most definitely the case today, but I will try to make this brief, sweet and to the point.
These are not isolated incidents. There is an International Organization™ in particular orchestrating, behind the scenes, the policies and requirements that financial institutions (crypto exchanges have since joined that category for this purpose) must follow, or else.
Here is what bothers me about this.
Have you been consulted about this? Anyone you know?
Heard of it in the news?
Yeah, me neither.
You have to know where to look to find some information on what they would like to see happening (we'll get to that in a moment), and often you have to read PDFs with dozens of pages to find the good stuff too.
I will leave that as an exercise to the reader. Suffice to say, I have been digging a bit deeper myself, and what I found shocked me.
FATF wants nothing less than the complete elimination of anonymity and privacy in financial affairs, even going so far as to consider BANNING peer to peer transactions so that people are forced to interact with each other through exchanges, where data collection is more reliable and certain, effectively obliterating one of the major selling points of cryptocurrency (p2p-ness) with complete disregard for the millions of people who are already onboard with the vision.
No privacy and no anonymity, imagine that.
Many of you probably already use plastic cards for everything, day in day out, and don't think too much about this stuff.
But the fact that an international organization that you have little to zero democratic control over is planning to get rid of class of financial tools that 99.99999% of people don't even realize exists yet should give you pause for concern.
The tools I speak of are, of course, digital cash-like cryptocurrencies like Monero.
I would like you to PAUSE, daydream a bit, visualize and imagine, what a world without zero financial privacy/anonymity would look like.
Consider, this has certainly not been the case in human history, ever -- yes, even today.
Today most of you still have cash as a choice. But what happens when that goes out of the window, and the only options are CBDCs, CorporateCoins, and transparent cryptocurrency ?
Needless to say, both in the case of CorporateCoins and CBDCs, there will be little to none privacy/anonymity, and even if there was (in the case of CorporateCoin), the state would obviously bully its way into it and force them to do otherwise (without being asked to do so, of course).
So, imagine that world.
Every donation you make. Every $50 transfer to a friend or family member. Every item you buy. Every service you purchase. Every money you send to help a friend you.
All of it stored, forever, to be accessed later at will for whatever reasons.
Would you make the same choices, knowing that your entire financial life is entirely exposed to powerful organizations of which you likely know very little about and almost certainly can hardly ever influence at all?
Does that seem like a good recipe for a free society?

Consequences

The people at the top either don't care about the consequences of what they're imposing worldwide, or they don't understand.
Sounds highly concerning to me either way - It comes down to either bullying or ignorance.
Would you ever have truly heart-to-heart conversations if you knew your worst enemy was potentially watching and recording everything?
Could you make passionate love knowing hundreds of strangers are analyzing your every move?
Can you be spontaneous knowing you are being recorded?
What if you did not have a choice in those matters ?!
What if someone has already decided for you, your friends, your family, your neighbors, your country, that you are all potential criminals and the thing to do is to keep records on everyone, just in case ?
Newsflash: It already happened.
It's been happening for awhile, and it seems to be picking up pace; the technology that was going to liberate us, slowly enslaving us instead -- because the general public largely does not understand the issues at hand, while the elite certainly does, and boy oh boy, are they thrilled with the technological advancements that help them cement their power.
What do I mean by cement?
Imagine trying to kick-start civil rights in a place where every social map is known, everything a person is interested in is known, every transaction they make is known, every website they have visited is known, every time they step on the street, an AI-powered camera automatically identifies them and tracks their movement.
You would be unable to organize. To exchange value. To discuss behind curtains, so to speak.
You would not have any privacy, and you would not have any anonymity.
Could you be free under these circumstances?

Conclusion

It's been a long road towards more freedom, but nowdays it is disappearing fast. Stopping to consider the implications is a most pressing issue.
They want Monero(-like tools) GONE because Monero ACTUALLY would change the paradigm.
By the time they are done with their "recommendations" (which really mean: comply, or else...), mark my words, there will be a name behind every Bitcoin address in some centralized database, query-able by partners in deciding who can and cannot use the system.
Merchants will be forced to perform chain analysis and by law they will be compelled to reject/refund/report transactions coming from "anonymous clusters" (addresses that are not known to have an identity tied to them).
This is what the normalization of the lack of privacy has brought us.
The possibility was there, and they took it. Of course they did.
I repeat, it is no accident that it's not Dogecoin and Nano, Bitcoin or Litecoin being delisted.
The star of the show (for better or for worse) is Monero, and that is because it works.
It lets you transact anonymously and privately, like cash - why the hell should FATF know that you sent $500 to your mother last week? in fact, why the hell should they know your entire financial history?!
When cash goes (and we can be fairly certain that it will be gone; would already be gone if this sort of authoritarian mindset had its way), Monero or tools like Monero, will become the only way to make any transaction outside the eyes of the state.
It's not because you have anything (nefarious) to hide. It's not because you're a criminal.
Rather, it's because to accept anything else is to bow to tyranny.
It's your choice to make - are you meekly going to accept that in perhaps less than a decade there will be zero privacy and anonymity in financial matters, or are you going to fight back?
Will you organize, campaign, email, discuss, spread awareness?
Will you spend precious summer Sunday afternoons writing for strangers on the Internet trying to help a few more see the major shit-show we're headed into?
Or will you be a good boy and do what you're told?
Tomorrow, by the way - if left unchallenged - it won't just be financial privacy that disappears.
One of the most prominent examples in the introductory part of this post (Australia) has already made quite clear that they don't like the fact that people can hide things from them (encryption).
In other words, either they know about it (and archive it forever), or you better let them know. After all, a threat - any threat! - could be lurking somewhere in that encrypted data. And you have nothing to hide anyway, yes?
This is a cryptocurrency sub though so let's not steer too far from that. It is important to remember that ultimately the issue is the same though - totalitarian control over everyone's life; mass-surveillance, and the ability to rewind and see someone's entire life exposed for the benefit of the state.
Their actions are letting you know what really works and what really threatens the status quo. That is useful information.
If you care at all about the freedom and privacy of your future self, your friends and family, children present or future, I think you would do well to think long and hard about these issues.
Because the direction assumed by the most prominent regulators seems to be headed in a uniform direction - that is no surprise, seeing as how they meet with each other.
You have to ask yourself though, is this for your benefit, your safety?
Or is it to keep the statuo quo?
How would the world be different if human beings - regardless of color, nationality, age, sexual orientation, political beliefs- with an Internet connection could freely exchange value privately and anonymously (the way we can still communicate private and anonymously in most places today - though not so in authoritarian places like China, AND THAT IS NOT A COINCIDENCE)?
It would be instant, like an instant message. It would cost very little.
Well, I have news for you: It's already possible, and a growing number of people are realizing this.
This tool is called Monero. It exists today, and the cat is out of the bag. The technology will only get better, and more interesting tools may even come along later.
In fact, barring mass persecution of open-source developers, that is very likely what is going to happen, as ultrasmart people everywhere congregate in virtual spaces to discuss better ways to do stuff.
If we keep losing our right to be left alone until suspected of a crime, life will increasingly come to resemble what the regulator types are - consciously or unconsciously - creating: a Panopticon society.
If you don't speak up, then the decision has already been made - and you're probably going to live to regret being complicit in it.
Freedom or Tyranny. It's your choice to make.
p.s: Yes, totally failed at making this short. I guess it's just not my thing.
submitted by xmr_kayront to CryptoCurrency [link] [comments]

Best places to trade your Ripple/XRP (longer read)

In the past when you heard the word ‘cryptocurrency’, the first thing that came to everyone’s minds was Bitcoin. To some, this is still the case; they believe that Bitcoin is the cryptocurrency and the vice versa to also be true.
Of course, the statement is correct in one way; Bitcoin is a cryptocurrency, but cryptocurrency is not made up of only Bitcoin but a host of other currencies. One of these currencies is Ripple.
When it comes to the top five cryptocurrencies with the highest capitalization, Ripple needs no introduction as it has managed to secure a position of being the third most traded cryptocurrency around the world. Perhaps this is due to the fact that Ripple is the only cryptocurrency with a backing from traditional legacy financial institutions.
In addition, the coin has been integrated into the operation of thousands of small businesses around the world.
At this juncture, it is only fair that you learn how to be a part of this great innovation. Thankfully, that is what this guide is all about, showing you some of the best trading platforms for Ripple.
There are numerous exchanges that offer decent exchange rates and well-matched trading pairs, but I’ll only narrow down to some of our best picks to help you get started fast.

What is Ripple (XRP)?

Ripple is a cryptocurrency, a currency exchange, a real-time gross settlement payment system, and a remittance network powered by Ripple. As I mentioned before, this is the third most capitalized cryptocurrency asset after Bitcoin and Ethereum.
XRP allows enterprises such as banks and other financial service providers to offer their clients a reliable option to source for liquidity for cross-border currency transactions.
Ripple is a distributed, open-source platform that seeks to capitalize on the weaknesses of the conventional money payment systems such as credit and debit cards, PayPal, bank transfers, among others. According to Ripple, these payment systems expose users to a lot of transaction delays and restrict the fluidity of currencies.
The platform aims at replacing traditional payment systems through offering a faster, safer, and more convenient alternative for making payments.
Both the platform’s exchange and tokens are called Ripple, and their mantra states one frictionless experience to send money globally.

Where Can I Trade XRP?

Most exchanges that trade Ripple are limited to crypto-to-crypto transactions. This means that you can only trade Ripple with another cryptocurrency and not fiat currencies such as the euro or the dollar.
You’ll need to acquire the currency you wish to trade with XRP on a platform that accepts fiat, and once that happens, you can proceed to trade the two currencies.
There are several great platforms that offer XRP trading; below are just a few:

Buying XRP on Binance

Binance is an exchange that was established in 2017 but has bagged a reputation worth over 10 years of existence. This, the team claims, is due to a number of features offered by the platform including better security controls, low trading fee (0.05%), as well as its faster transacting speeds.
To buy or trade XRP on Binance, you’ll need to set up an account on the exchange. The platform offers a fast signup process and actually accepts users from all around the world.
Once you’re done signing up, navigate to the fund’s section and click on “Deposits”. You will find all the listed cryptocurrencies supported by the Binance platform.
Since Binance does not support the purchase of Ripple using fiat currencies, you’ll need to acquire another cryptocurrency such as Bitcoin or Ethereum and use it to acquire XRP.
This will require you to use a platform such as Coinbase that accepts fiat currencies when buying cryptos. Getting started on Coinbase is quite simple. Head over to their website and click on the “Get Started” icon on the top right corner of your screen.
Fill in the required fields and read through their User Agreement and Privacy Policy documents, then create your account.
You’ll receive an email that will require you to verify your signup details together with your phone number.
You will then gain access to your created account.
Proceed to buy your coins; preferably, choose either Bitcoin or Ethereum as they have higher liquidities. Once you’re done, your coins will be received in your online Coinbase account.
Head over to the menu indicated as “Account” and click on it.
Click on “Send” and enter the number of coins you wish to send to your Binance wallet. Copy and paste the address of your Binance account to Coinbase, then click send to transfer the funds.
The purchased cryptocurrency will be received and on Binance, you can go ahead and trade it with Ripple.

Buying XRP on Bittrex

Just like on Binance, you’ll need to create an account on Bittrex to get started.
The process is pretty much straightforward, only requiring you to sign up using your email address and password.
Once you’re done signing up, click on the wallet tab. You will be taken to a page where you can view all the deposit addresses of the cryptocurrencies on the Bittrex platform.
You can then choose the currency to use to purchase XRP, after which, you will be required to type in the code of the currency you will be using to purchase Ripple. If you’re using Ethereum, you can type in the search bar “ETH” and then click on the green arrow to reveal the deposit address. In case you will be sending the funds from a different exchange, you’ll need to paste the address to that platform.
Next, you’ll need to send funds to your Bittrex account. Bittrex permits payments using both fiat and cryptocurrencies. So, depending on what you will be using, send money to your online wallet and proceed to trade it with Ripple.

Buying XRP on Changelly

Changelly is another Ripple exchange that requires you to use either Bitcoin or Ethereum to acquire XRP.
The exchange doesn’t have an inbuilt wallet, so you’ll need to store your funds on a separate hardware or software wallet. You can pretty much use any type of wallet, but the most secure ones are the hardware ones as they store your coins in an offline cold storage area.
Ripple prefers not to have many unutilized accounts being set up on its platform; this is why you’ll need to have a minimum of 20 XRP in your account for you to get started. However, if your first transaction will be more than 20 XRP, then you’re all set.
Once you have a wallet ready for your Ripple, head to the Changelly site and click on “input currency”. Here, you will be able to enter the currency you wish to trade for Ripple.
You can basically pick and use any coin listed on the site, but it is highly recommended that you use either Bitcoin or Ethereum due to their high liquidity.
The output section will have Ripple, which is the currency you wish to receive.
The next step will require you to key in your XRP address, which is your Ripple address and the destination tag, which is a description of the transaction.
You can now proceed to trade your chosen coins for Ripple. The transaction shouldn’t take long, and you will be able to receive the coins in your Ripple wallet.

Cryptmixer

Cryptmixer is a platform that assists users to swap XRP with 5 other assets freely. The interface lets users convert assets directly from one’s wallet, without having to create an account or register. Besides, the service helps to compare different providers and find a suitable deal for handling Ripple transactions securely, rapidly, and at the best rate.
The process of using Cryptmixer is quite simple:
  1. Go to the main page, choose the currency you’d like to swap, and enter the amount.
  2. Choose XRP to receive.
  3. Review the amount to see how much you will receive. Cryptmixer will automatically find the best rates for your trade.
  4. Click Exchange.
  5. Then, enter the wallet address that you wish to use.
  6. Send in the deposit to the generated wallet address and wait for the transaction to be processed.
What makes Cryptmixer a great fit is that it provides a very simple layout and quick process so it’s not chore when you trade your crypto. The support line also takes on the job of solving the cases by cooperating with users with top priority.
To learn more on how to exchange XRP at the best rate check https://cryptmixer.com

Buying XRP on Coinmama

Coinmama is a cryptocurrency exchange that has been around for quite a while now. The Coinmama team has been adding more coins on their platform over time to be able to provide its users with a wider variety of trading pairs.
More recently, the platform included Ripple on its platform. However, Coinmama does not allow US-based users to purchase Ripple due to some stringent laws and regulations surrounding the coin.
But for non-US users, you can proceed to create your account on the platform and locate Ripple among the listed assets.
Once you’ve created your account, navigate your way to the area with the list of assets. Select one of the provided packages and proceed.
You’re required to have a crypto wallet prior to making any purchase on the platform, so be sure to have a valid wallet address before completing the purchase. Once that’s done, purchase your Ripple coins and they will be delivered to your wallet.

Storing Your Ripple Coins

Online storages are never safe for cryptocurrency assets. Individuals have woken up to all sort of horrific sceneries on their accounts that left them bankrupt with no one to turn to.
One of the most important concepts you need to grasp about online businesses is the security of your transactions.
Cryptocurrency burglars are everywhere and are getting smarter by the day; this means that traditional ways of guaranteeing the security of your online assets are no longer effective.
Most exchanges have top-notch security standards, but the safety of your cryptos begins with you. A great way of ensuring that your funds are secure is by getting an offline storage device for your coins. I’ve seen great reviews on two hardware wallets that I highly recommend; these are the Ledger Nano S and Trezor wallets.
After getting the wallet of your choice, keep your personal data such as passwords and secret words private; this will ensure that no one else gains access to your wallet even if you misplace it. Writing your password or PIN on open places or somewhere in your phone might not be a good idea; yes, it may be convenient for you, but it will be for the burglar too.

What method of purchasing XRP is considered to be the best?

The most secure and common way of acquiring Ripple is through buying Ethereum or Bitcoin from Coinbase or Coinmama, then transferring the same to Cryptmixer to use to exchange with Ripple.
This is because Ripple is currently not available for purchase by using fiat currencies.

What is the best trading platform for Ripple?

Ripple is available on a decent number of exchanges including Binance, Coinmama, Coinbase, Bittrex, Cryptmixer, and more. However, among the stated ones, I have found Cryptmixer to be more secure and easier to use while it also offers the best trading rates and fees.

The Bottom Line

As we conclude, you now have some of the best choices when it comes to the exchange to acquire Ripple coins. After buying your XRP coins, store them offline on a secure device due to the risk of being faced by threats such as hacking or system failures.
If you’re serious about making cryptocurrency your investment vehicle in the long run, consider investing in a more lasting security solution such as a hardware storage device. You may not get them for a few pennies, but trust me when I say they are worth every last dime you spend on them.
submitted by MonishaNuij to MonMonCrypto [link] [comments]

Earn 51-$171 using my referral codes to learn about crypto through Coinbase! Plus! if we verify you used my links, ill give you an additional $5 in for the links you completed. Payout is instant upon completion, no gimmicks!

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Altogether there are 6 different lessons, each takes like 5-10 mins with a quiz at the end. Only 3 of them i will get rewarded for though. You will also get an extra $10 for each completed for my referral + $51 from all 6 quizzes and also another $120 if you get 4 people to do the quizzes. They are really quick, especially if already have an account. Also you can look up the answers for each one on google so you dont need to sit through them, be even quicker. Please complete the 3 i sent the links with to the end so we get 10$ reward extra. As soon as you finish they send you the coins into coin base account. Once they are in your account you can sell them instantly for $$, and transfer to your bank account, OR you can keep them on your account. EOS, and COMP have been doing really well, so they might be worth keeping. This is just a really good promotion, probably one of the better i’ve see. Its easy AF, quick, and the reward is really good. If you don’t know anything about crypto, i highly suggest you learn. It’s still very early and its growing super quick. cryptocurrency has gained a ton of attention in the past couple years and is actually starting to become a real actual currencies (already is, but according to our governments) many different types of crypto is starting to become accepted in a bunch of stores, realtors are taking as payment for a house, and colleges are even accepting as tuition. I started researching bitcoin a short amount of time after Satoshi Nakamoto released it (2009) and bought my first few in 2013 at 15$!! From early 2013 the price was about $11 USD and at the end of 2017, $20,000. But they fell and recovered as the stock market does. But the 24-hour trading Volume today, in 2020 is is INSANE ($20,690,383,231) with an even crazier market cap of $209,783,036,693, which by the middle-end of next month should reach $210 billion, possibly sooner. Its just a really smart investment, buy a little over time. Some analysts are predicting that BTC could reach anywhere from $100k to $1,000,000 for BTC in the next few years. Im not sure exactly where i would name the price in 5 years, but know there is only a limited supply of BTC. They are mined (basically just means that the transactions and blocks on the ledger or blockchain are verified) by sophisticated pieces of hardware called ASIIC miners, or some even use GPU, and CPU in expensive computers. Although CPU mining can be very inefficient anymore as the mathematical calculations and problems the miners need to solve get more and more complicated over time. This, the limited supply, the increasing interest, usability, and need for blockchain technology all add the the idea of BTC reaching such incredibly high futures. Their is a total of 20,999,976 bitcoin and that is it. With a total of 18,517,418.75 in circulation. The last BTC is estimated to be 2140. Big difference from the 18.5M mined in 10 years, right? Thats because of the halving. Anyway, I’m sure you have heard some things about BTC, probably from the media, and if it was, it probably wasn’t good. You probably heard that people buy illegal dangerous stuff off of the “Darknet” and that its completely untraceable. Or that money can be laundered through BTC. But that is hardly partly true for BTC and other cryptocurrencies, and completely true for the USD. While the blockchain doesn’t include any personal information connected to wallets (unless you want it there, or you have the wallet through a service that makes you use personal information, which many services are doing), all transactions can still be tracked and seen by anyone who has an internet connection at https://www.blockchain.com. So if the identity of one of the wallet addresses is known, it would be easier to figure the other out. But for paper, money that cannot be said... completely untraceable, has been prone to money laundering since it’s inception, can be used to purchase various drugs—hookers, guns, dynamite, and even politicians... since its inception, without a trace. The reason not just bitcoin, but i think even more exciting, is just blockchain technology and a host of things that are coming with it. It can be used for tons of things, software and can be built directly into blockchains, they can hold and process data at enormous speeds, while being extremely, extremely secure. More secure in a lot ways than banks. There are tons of new cryptocurrency projects being started everyday. For the most part, all of these projects have some sort of token integrated, because its what powers, and processes the data. If people find the project interesting or a great idea you like you’ll be able to invest in it buy buying/selling, or holding the token/coin. When these projects gain enough traction by like-minded individuals, the coin gains a value. This value can then be exchanged for other crypto, or traded directly for Fiat currencies ($,€,₽,¥,£,₩). For some examples of how wonderful the community is, and reveal what the true nature of blockchain and crypto was founded on, ill list 3 of my favorite crypto projects of 2020 so far along with a little excerpt from the white paper or other:
  1. AIDCOIN: “allows websites to embed a widget into their website and accept donations in any cryptocurrency. Any donated crypto is transferred into AID token, which is also a stable coin. At first, this might seem like not such a good thing but the more I looked into it, the more I realized accepting a stable coin might actually make more sense for a charity as it reduces their risk exposure to volatility.”
  2. BRAVE BROWSER—Privacy Internet Browser: “As far as I’m concerned, keeping people safe and protecting their privacy and security is a noble endeavor. For far too long, giants like Google and Facebook have gotten away with unethical data practices with nothing more than a slap on the wrist. They have been able to spy on their users, abuse their data and use it for whatever purpose they deem fit. Brave Browser is looking to put an end to that through the most secure browser that exists on the market today.” Basically Brave takes on the responsibility of completely protecting privacy and from ads. As an added available option, brave allows you, to watch and look at sponsored ads while you browse. So basically just a stand-in for other browsers ads, but instead you make money WITH brave. You are awarded BAT (Basic Attention Token) for your service. BAT’s are currently at .21¢.
  3. Power Ledger: Last but not least. Power Ledger is probably one of my favorite projects that is actually making a real use-case out of crypto and blockchain. They are aiming to disrupt the energy sector with a heightened focus on renewable energy. Their software allows for three core things: 1. Energy Trading (if you have excess energy from your solar panels, for example, you can trade that to your neighbor through Power Ledger). 2. Environmental commodities trading (to help for the reliable tracking of renewable energy credits). 3. Renewable asset ownership (This will allow people who cannot afford their own renewable energy set-up to invest in fractional ownership). I honestly think Power Ledger is doing God’s work and wish them all the best.
As those projects above outlined, the basic principles behind pretty much every currency and upcoming project i have ever seen is, Trust, Sharing profit with the users who help make it into what it becomes, actual transparency, no central authority (due to decentralization), and lastly i believe it gives opportunity to those who are out if opportunity’s way. This is because it reaches so far, like into oppressive governments and 3rd work countries. Anyways, i hope to have given you a little insight during this read. Crypto has so much potential to fill and has already done so much. Looking forward to seeing where else all of this goes.
submitted by ABetterPsychiatrist to referralcodes [link] [comments]

What is Bitcoin Cash and some exchanges to try out!

Bitcoin Cash (BCH) came about in August 2017 after a hard fork and a split in the Bitcoin blockchain. Bitcoin Cash is a direct result of the constant debates and many opinions about the future of Bitcoin’s scalability and mass adoption.

Bitcoin vs. Bitcoin Cash

Bitcoin’s blockchain has grown exponentially in recent times. This means that many more users are using the cryptocurrency, which is slowing down the network.
The limited Bitcoin block size of 1 MB means that blocks are filling up quickly, resulting in a long queue of unconfirmed transactions. As a result, at peak times, transactions have become slow and expensive.
Bitcoin cash, on the other hand, was initially created with an 8MB block, which was later on increased in size to 32MB. This change allows for more transactions to be processed in each block mined.
Many see this as a step forward in terms of how best to scale the network.
Bitcoin Cash opposers remain adamant that it’s simply a short-term fix that doesn’t solve the problem in the long run. Also, they claim there’s no implementation of ideas such as Segwit to help effectively break transactions down into smaller, more manageable pieces.
Bitcoin Cash (BCH), Sometimes referred to as Bcash, is a fork of Bitcoin (BTC). When a fork occurs on a Blockchain, the currency is basically duplicated.
This means that anyone with Bitcoins in his possession at the time the fork occurred, got credited with the same amount of Bitcoin Cash.

Buying Bitcoin Cash in 3 Simple Steps

Step 1: Get a Bitcoin Cash Wallet

Before you can buy Bitcoin Cash, you’ll need a Bitcoin Cash wallet to store it in. Hardware wallets that support Bitcoin Cash include industry leaders Ledger and TREZOR.
Both Ledger and TREZOR provide functions for you to use Bitcoin Cash as you would any other cryptocurrency. Both have also introduced the ability to claim your funds if you already owned Bitcoin at the time of the Bitcoin Cash hard fork.
Additionally, there are a variety of software wallets you can use to store Bitcoin Cash as well.
Exodus provides a great user experience with a seamless coin exchange service known as Shapeshift built in.
Edge is a mobile wallet for iOS and Android that supports multiple cryptocurrencies including Bitcoin Cash. It also has a variety of features allowing you to buy cryptocurrencies and exchange them from within the app.
Electron Cash is a clone of the awesome Electrum wallet for Bitcoin. If you’re used to Electrum, then you’ll have no problem jumping on board with its sister technology.
Other wallets that support BCH include Keepkey, BTC.com, Bitpay, and Coinomi. You can view all available wallets on the official Bitcoin Cash website.
Once you have your wallet, you will need your Bitcoin Cash address. It’s a long string of letters and numbers that start with either a “1” or a “3” — similar to normal Bitcoin addresses.
Since many people got confused and started sending Bitcoins to Bitcoin Cash wallets and vice versa, a new format was invented for Bitcoin Cash. The format, called “Cash Address” is 42 characters long and starts with a “p” or a “q”. Here’s an example:
qpm2qsznhks23z7629mms6s4cwef74vcwvy22gdx6a
Keep in mind that Cash Addresses are just a representation of original Bitcoin Cash addresses. This means that the same address can be represented in two different ways (normal format or Cash Address format).
Not all wallets support Cash address format.

Step 2: Find a Bitcoin Cash Exchange

Most Bitcoin exchanges will also allow you to buy Bitcoin Cash, here are top ones around.
Buy Bitcoin Cash Through eToro
eToro allows users from around the world to buy and sell Bitcoin Cash with a variety of payment methods.
eToro is more aimed towards investing in BCH for making a profit in fiat currency (i.e. Dollars, Euros, etc.) rather than actually using it. That being said, eToro does give you access to your coins and allows you to send coins from eToro to other people.
If you use eToro for investment only, you don’t actually need a Bitcoin Cash wallet as you won’t be withdrawing the coins.
*75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. CFDs are not offered to US users. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
Buy Bitcoin Cash Through Coinmama
Coinmama, one of the oldest exchanges around, allows you to buy Bitcoin Cash with a credit card, debit card or SEPA transfer. Coinmama accepts users from almost all countries around the world.
Buy Bitcoin Cash Through CEX.io
CEX.IO, based in London, is a trusted, experienced name in the industry, having been around since 2013. You can choose from a selection of cryptocurrencies on the site, including Bitcoin Cash.
The exchange has a brokerage service (easier to use, more expensive) and a trading platform (cheaper but more complex).CEX accepts credit cards, debit cards, wire transfers and SEPA.
Buy Bitcoin Cash Through Coinbase
Coinbase is a reputable Bitcoin exchange that supplies a variety of other services including a wallet, a trading platform (Coinbase Pro) and a Bitcoin debit card.
If you’re a beginner, it’s probably best to use the brokerage service which is a bit more expensive, but easier to use. Advanced users can use Coinbase Pro to buy Bitcoin Cash with lower fees.
Coinbase accepts debit cards and wire transfers.
Buy Bitcoin Cash Through Bitstamp
Bitstamp, the oldest exchange around, supports the trading of BCH to Bitcoin and direct purchases with US dollars or Euros. There’s also an option to buy Bitcoin Cash with your credit card at a higher price.
If you know your way around Bitcoin trading platforms it’s best to use that service and not the credit card service since you’ll save substantially on fees.
Other options to purchase Bitcoin Cash include Bitfinex, Cryptmixer, Kraken, Poloniex, HitBTC, and more (you can view all available exchanges on Bitcoin Cash’s website).

Step 3: Transfer the BCH to your wallet

As usual, I recommend that you never leave money on an exchange.
Once you’ve finished buying your Bitcoin Cash, move it to your own wallet (the one you chose in step 1). You can then follow the status of your transaction using a Bitcoin Cash block explorer.
Once you receive three confirmations for your Bitcoin Cash, you can safely say you’ve completed the process.

Conclusion

It’s apparent that Bitcoin Cash has still not gained full acceptance by large parts of the cryptocurrency community. It still sits firmly in second place to its older brother in terms of both price and usage.
Bitcoin Cash has the advantage of being the first major split that has garnered acceptance. Most forks after it didn’t receive nearly enough attention from the community or the media.
However, with internal conflicts inside its founding team and accelerated Bitcoin development for scalability solutions, I’m not sure if there’s an actual use case for Bitcoin Cash other than price speculation.
submitted by MonishaNuij to MonMonCrypto [link] [comments]

How to buy Bitcoin and Deposit on Roobet Full Tutorial

Hello!
In this thread I will do my very best to explain how to purchase Bitcoin safely and deposit it onto Roobet.com !
If anything is too confusing or you need further instructions feel free to message a mod for help!Be very aware of other users offering to sell you bitcoin or purchase on your behalf.If you are new to Bitcoin in general I strongly recommend watching this quick video on the basics of bitcoin safety https://www.youtube.com/watch?v=2z2xggmeW1AAfter you have watched that or you already understand bitcoin skip to down below!
Buying Bitcoin
Step 1 Chosing an exchange
Ok so you want to buy bitcoin to play on roobet? No problem! Bitcoin is super easy to use once you understand it! The first thing you need to do is pick an exchange to purchase from. I would recommend coinbase as it is a very large and trusted exchange. If coinbase does not work in your region then I would recommend Binance The last option if buying online doesn't work would be a local Bitcoin ATM use google to find one close to you.

Step 2 Signing up - coinbase Sign up using https://www.coinbase.com/join/carava_zo to get a bonus 10$ btc on your first purchase Once you create an account you will be prompt to verify both a Email & Phone Number *Sometimes a photo id is required* *(It is recommend to add one as it will improve account security and increase your buying limit)* Follow the on screen prompts until you get to Add Payment Method
Add your method of payment
Once you link a Bank/Credit Card you will now be in the main page
https://preview.redd.it/a58hftutv8d51.png?width=1892&format=png&auto=webp&s=9ce87ba198fdcaad10a2da4725c1030fca4d1741
  1. Takes you to the main page
  2. Takes you to the main page
  3. Your Portfolio view your holdings here
  4. Check current market prices
  5. Buy sell and send bitcoin/Crypto
Click on Trade (5) SOMETIMES AN ID IS REQUIRED It is recommended to do this step even if you do not get the prompt as it will increase account security and increase your buying limit.
Verify your Id by following the steps
Once you have a verified account you will be able to purchase Bitcoin for life! YAAAY :) Click on Trade (5) once again and now you will see this pop up
https://preview.redd.it/absss1xrx8d51.png?width=373&format=png&auto=webp&s=93308c636588421ead42f557cc5c51beeea4c431
GO SLOW FROM THIS POINT ON THERE IS NO RUSH Select the coin you would like to purchase Select the payment method you have added in the previous step Ensure that One Time Purchase is selected so it does not recur automatically
Confirmation Window
This is the last chance to cancel or change anything before you purchase. In this example I am making a purchase of $100 Cad worth of BTC Take not of Coinbase fees so you do not get confused once the BTC arrives
Complete
Your BTC will be available instantly! that is the beauty of setting up a verified coinbase account! Step 1 is complete we have now successfully purchased our first amount bitcoin!
Step2 Sending Bitcoin Now we will go back to the home page by click ether the logo (1) or the home button (2) From the main page we will click on portfolio (3)
https://preview.redd.it/dzvva71mz8d51.png?width=1892&format=png&auto=webp&s=9f2d1cd9052b7751afd22a97c6a52fa4fd669a23

Once we are in the Portfolio screen scroll down until you see Your Assets
This will display all your holdings
Now click on Bitcoin and it will bring you to your bitcoin wallet on the right hand side you will see a Send and Receive Tab
ALWAYS TRIPLE CHECK ADDRESSES
Ok we are going to Pause Coinbase here and head on over to our Roobet AccountIf you do not have a Roobet Account Follow the guide here ( https://www.reddit.com/Roobet/comments/hydyap/how_to_create_a_roobet_account/ )
On the roobet home page you want to click on Deposit
https://preview.redd.it/6x49blj939d51.png?width=1409&format=png&auto=webp&s=a6acb178137f90d874297f067b83e8abb143b035
Once you do that the Wallet Window will pop up
IF you have the coinbase app you can Scan the QR code to deposit (not the one in the screenshot unless you want to deposit into my wallet!)
  1. Copy the Bitcoin Address (Your bitcoin address not the one in the screenshot)
  2. Head back to coinbase
  3. You should still have the Sent/Receive tab open if not open it back up
  4. Put in the amount of BTC you wish to send
  5. I like to add a note to keep my purchases organized this is optional
  6. PASTE THE ROOBET DEPOSIT ADDRESS WE COPIED FROM STEP 1
  7. DOUBLE TRIPLE QUADRUPLE CHECK THE ADDRESS IS CORRECT YOU ONLY GET 1 SHOT AT THIS GO SLOW
  8. If everything looks good click send
TRIPLE CHECK BEFORE CLICKING SEND
You will be given a confirmation screen again take note of the fees It is easy to get confused especially with currency conversion its always best to look at the BTC amount not the $ amount. (pro tip)
Last chance to check everything
Once you confirmed everything click send and the BTC is on its way! Go back to roobet and keep an eye on your notifications. Thanks to Roobet Instant funding you only need 1 confirmation before your funds are ready to go!
https://preview.redd.it/14x2wwmo59d51.png?width=524&format=png&auto=webp&s=d40212fd1b67555fecb6e7f69c78d47c1abe569f

Thats it!!!!You have successfully purchased and added BTC to your roobet account! Things to note Bitcoin is risky be safe take time to learn it Gambling is risky... Crpto is risky this website combines both please take the appropriate steps to ensure not only your financial safety but also your metal health Play Smart Play Safe
Thank you for reading!if this helped you at all I would love it if you used my links above when signing up This was my first reddit guide I apologize if it is messy/confusing I will work on the formatting any Feedback is appreciated
-Dom
submitted by dom555 to Roobet [link] [comments]

How YFI came out of nowhere to become the fastest coin to reach $1B and the fastest coin to ever get listed on Coinbase

Note: As mentioned to the original 624 Reddit subscribers, there will be $YFI based Exclusive Original Content released here by myself and others from time to time. These kinds of interactive Deep Dives with a Q&A with fellow Investors / Beta Testers right afterwards is a rare thing in Crypto, and will only be found with this level of immediacy, social interaction, permanence, depth, and complexity of analysis and feedback on a platform like Reddit.

A lot of projects have low innovation, just copying something that someone else has already done, but with small tweaks to things like variables in Smart Contracts. A few rare projects have genuine innovation, providing genuine value to investors and users by providing attractive new products that simplify a lot of things in this space.
Even rarer are the Unicorns that not only have innovation, but they have innovation in spades, oozing out of every pore. $YFI is one of these types of Unicorns. The scope of products and rapidity of release of new revolutionary products of this project has been simply unmatched in the short history of Crypto.
Since 2009, the world of crypto has never seen anything like this lightning fast pace of development spanning such a wide scope of products - optimized automated yield farming and lending that relentlessly hunts the best yields, crypto insurance on Smart Contracts, a revolutionary Stablecoin idea that essentially makes a USD altcoin "smart" with built-in yield farming capabilities for the first time, to name a few - all built by a genius Smart Contract Builder who provided the world the first Fair Launch token.
Key to wrapping your head around the advantages that the yEarn Finance ecosystem has over - well, every single other option out there at this time - are the concepts below:

  1. CeFi vs. DeFi
  2. Composability
  3. Smart Contract Stacking
  4. The power of a Talented and Diverse DAO

To discuss these concepts, and to educate beginners, we have to understand what the terms above truly mean. This post doesn't discuss any particular products and their advantages, only the systemic advantages that are available only to $YFI. This project seems to attract the smartest and the highest risk taking of crypto investors, and an important thing in truly understanding all of the risks involved, is that you have to know the terms and concepts first. Even veteran crypto and DeFi users may be thrown for a loop by some of the innovative products and concepts that keep coming out of the YFI Labs.
This project is going through an expansion phase, where the scope of everything and the reach of the various released products is increasing (Insurance, A truly pegged Stablecoin, yETH Version 2, ySwap, yLiquidate, etc, etc..)
You know that there's some motherforker or twenty that is now just avidly waiting for every piece of code that Andre drops onto GitHub, so that they can be among the first to copy it verbatim then claim it as "their own variation" because they changed some variables and titles. Yawn.
From the definitive glossary for the DeFi space - yet another $YFI innovation - I'll list their definitions below. These may not be their final definitions when I finish any V1.1 edits to it, but they're good enough for now, and at least 3 or more YFI Dev Team members have read, reviewed, or edited these definitions. I've also invited my fellow Beta testers to provide comments to my RFC on this subreddit and in the Governance forum (among the documentation volunteers).
Yes, this is how early DeFi investors are in the development and maturation of the DeFi space. Anyone reading this right now is so early into DeFi's evolution that the terms used for this space are literally still being finalized by the community.
I've given a little bit of a sneak peek into how technical documentation is somehow self-organized in a powerful DAO such as this one. In this example, it starts off with a call for help on Twitter to improve our documentation by tracheopteryx. Interested and qualified volunteers show up (or don't) when such a call is made.
Your writers and editors have spent many a moment pondering off into space debating whether this term really means this or that, or if the term was either succinctly described, or fully sufficient. It's a usually thankless and anonymous job, that is critical in providing enough relevant information to its users and investors. [Note: Just like anything you see related to the $YFI project: You can help us improve this documentation - any of it - if you see errors or better ways of describing this information.]
All terms are shamelessly plagiarized from myself and my fellow writeeditors - u/tracheopteryx and Franklin - from the draft definitions in our new DeFi glossary: https://docs.yearn.finance/defi-glossary

1. CeFi vs. DeFi
CeFi - Centralized Finance. In terms of cryptocurrency, CeFi is represented by centralized cryptocurrency exchanges, businesses or organizations with a physical address, and usually with some sort of corporate structure. These CeFi businesses must follow all applicable laws, rules, and regulations in each country, state, or region in which they operate.
DeFi - DeFi, or Decentralized Finance, is at its root a set of Smart Contracts running independently on blockchains such as the Ethereum network. Smart Contracts may or may not interact with other smart contracts and even other blockchains.
The goal of DeFi is to enhance profitability of investors in DeFi through automated smart contracts seeking to maximize yields for invested funds. DeFi is marked by rapid innovative progression and testing of new ideas and concepts.
DeFi often involves high risk investing sometimes involving smart contracts that have not been audited or even thoroughly reviewed (a review is not as comprehensive as an audit, but may be also be included as part of an audit). Due to this and other reasons, DeFi is conventionally considered to be more risky than CeFi or traditional investing.
Comment: DeFi is higher risk, partly because it moves so fast. A lot of yams, hot dogs, and sushi can get lost when you move so fast that you can't even bother to do a thorough audit before releasing code. The cream of the crop projects will all have had multiple audits done by multiple independent auditors. Auditors are expensive. At such an embryonic stage, most projects can't afford to have one audit done let alone 5.
But if you can live with that higher risk intrinsic in DeFi and be willing to be a part of "testing in prod," then financial innovation can truly blossom. And if you let your best and brightest members of your community focus only on doing what they do best, then they don't have to bother to try to grow a business like a Bezos, Musk, or a Zuckerberg. Innovative entrepreneurs in this mold such as Andre, don't have to even try to do this business growth on their own because the DAO sets it up so that they don't have to do this. The DAO both grows the business while supporting and allowing these innovators to simply innovate, instead of trying to get nerds to do backroom deals to gain market share and access to new customers. It turns out that nerds are much more productive when you just let them be a nerd in their labs.

  1. Composability
Composability - The measure of the usability and ability of a product to be used as a building block (or "money lego") in the construction of other products or domains. A protocol that is simple, powerful, and that functions well with other protocols would be considered to have high composability.
Comment: The maturity of the cryptocurrency ecosystem and the evolution of composable building tools in the DeFi space now make new products and concepts available. $YFI would not have been possible only 2 or 3 years ago; the tools and ecosystem simply weren't ready for it yet.
This is why only now are you and many other now hearing about YFI. In 2018, Andre began providing free code reviews to Crypto Briefing. Andre had to learn to walk before he could run, and the composable tools needed to work on embryonic ideas in his head were simply not ready or available then. By reading and reviewing so many Smart Contracts he learned to recognize good code from bad code at what was still a very early stage in Smart Contract development in 2018, only 3 years after ETH's launch in July 2015.

  1. Smart Contract Stacking
Smart Contracts - A digital contract that is programmed in a language that is considered Turing complete, meaning that with enough processing power and time, a properly programmed Smart Contract should be able to use its code base and logical algorithms to perform almost any digital task or process. Ethereum's programming languages, such as Solidity and Vyper, are Turing complete.
Comment: Smart Contracts have actually gotten smarter since ETH launched in July 2015. It's because Smart Contract builders needed to learn Solidity and how it functions and interoperates before they could spread their wings as designers. With more time and experience under their belts, the early SC builders that stuck to it have gotten much better.
In Andre Cronje, we may have been witness to the rise of the next Satoshi or Vitalik of crypto. There is a reason that a couple of days ago, I counted 6 of 41 YF clones - nearly 15% - among the top gainers on the day. Success breeds copycats showing a ton of flattery. A smart contract is so smart, it can be used to be stacked upon other smart contracts such as at Aave or Maker.
True innovation takes time, sacrifice, blood, sweat, and tears. It does not come without cost to those doing the innovating.
There is not a single project in DeFi, CeFi, or even all of cryptocurrency that can claim the breadth and diversity of innovation and product reach that is found in the $YFI ecosystem. As a tech investor and professional nerd who's been involved at Research Labs and around product development and testing since before the year 2000. Prior to that I've ready widely and keenly to keep up with technological changes and assess investment potential in these disruptive changes nearly my whole life.
The amount of innovation shown in this project is breathtaking if you're a Tech or FinTech researcher. It's being released at a ridiculously rapid pace that is simply unmatched in any private or government research lab anywhere, let alone at any CeFi or traditional financial institution one can name. The only comparable levels of innovation shown by this young project is typically only seen during periods of epochal changes such as The Renaissance or times of strife and war, such as World War II.
Unless you've been in the industry and working with coders: I don't think those that haven't been around software development and testing can understand, can truly grasp that no one, no group does this. This isn't normal. This rapid-fire release of truly innovative code and intelligent strategies would have to be comparable to some of the greatest creative periods of human ingenuity and creativity. It's truly on par with periods of brilliance seen by thinkers like Newton, Einstein and Tesla, except with software code and concepts in decentralized finance. When the history of FinTech writes this chapter in its history, $YFI may need its own section or chapter.
Don't forget all of these financial instruments we take for granted all around us, all had a simple start somewhere, whether it was an IOU system of credit, insurance, stocks, bonds, derivatives, futures, options, and so on...they all started off as an idea somewhere that had to get tested sooner or later "in production."
One brilliant aspect of $YFI Smart Contracts is that they're built as a profitable layer atop existing DeFi protocols, extracting further value from base crypto assets and even primary crypto derivatives. $YFI is built atop existing smart contracts to create further value where there was none before, and help maximize gains for long term investors.

  1. The Power of a Talented and Diverse DAO
DAO - Distributed Autonomous Organization. The first DAO was started in 2016. According to Wikipedia's definition, it is an: "organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain."
When implemented well, a DAO allows for real world experiments in decentralized democratic organization and control, with more freedom of action and less regulatory oversight for DAO controlled projects and products when compared to legacy corporate structures and organizations.
Comment: yEarn Finance has shown us what a properly motivated and sufficiently powerful DAO can do in a short amount of time.
There's many reasons why this project with an already profitable business model is the fastest original project in history to ever reach a $1B marketcap in any market - traditional or crypto - accomplishing this amazing feat in less than two months. There's reasons why this is probably the fastest coin in history to get listed on Coinbase in less than 2 months.
The power of a sufficiently talented and diverse development team and community is stunning in its power, speed, and ability to get things done quickly. There are risks aplenty with parts of this project, but $YFI is now seen as a "safe" place in DeFi, because you know you that as far as yield farming you probably couldn't do it better yourself unless you took a chance on unaudited code with anonymous Devs, or you were doing the trading equivalent of throwing darts blindfolded and somehow won, except that you even more improbably kept doing that over and over and winning.

Summary: There's reasons why YFI has been called the Bitcoin of DeFi and the Berkshire Hathaway Series A of crypto. I've listed some of the reasons above. The confluence of these 4 factors has helped lead to explosive growth for this project.
This isn't financial advice as I'm not a financial pro but make no mistake: as a Crypto OG around crypto since early 2013, who was deeply involved in multiple community projects as an early organizer, and who was a small investor during the DotCom era investing in early giants that went on to be gorillas, I don't say this lightly that the $YFI project is lightning in a bottle and a diamond in the rough.
What $YFI allows, when all is said and done, is the rapid fire implementation of great ideas that have gone through a rapid Darwinian evolution, where only the best ideas are implemented. Thoughts and ideas are powerful things. The valuation of this coin and ecosystem has to, it must take into account that this nascent financial innovation hub and ecosystem actually works and allows the best of these ideas to actually blossom rapidly.
You just don't find too many gems like this.
submitted by CryptoOGkauai to yearn_finance [link] [comments]

Updated list of Global Beermoney opportunities (+180!) - June 2020

Updated list of Global Beermoney opportunities (+180!) - June 2020

Introduction

The current, and now previous, Beermoney Global list started nearly 5 years ago. It’s been updated and has grown over all that time, but it also became a hassle to keep current. It was time to build a new list from scratch based on my experience in the Beermoney world over all these years and all the contributions all of you have been making in this sub.
The lists consist of opportunities that are available in at least one country that is not the US. This means there are sites which only work in Canada or the UK. There’s sites which are open to the whole world, but this does not mean everyone can really earn something on it. It’s all still very demographic and therefore location dependent. This list should give you a starting point to try out and find what works for you. I’m not using everything myself as I prefer to focus on a few, so not all are tested by me. They are found in this sub, other subreddits and other resources where people claim to have success.
I’ve chosen the format of a simple table with the bare minimum of information to keep things clean. It includes a link, how you earn, personal payment proof if available and sign-up bonus codes if applicable. Some of these bonuses are also one-time use codes specifically made for this sub! For the ones I don’t have payment proof (yet) feel free to provide some as a comment or via modmail so others know it’s legit. I am working on detailed instructions for each method that I personally use which will include things like cashout minimum, cashout options, tips & tricks,... For now I’ve split things up based on the type of earning like passive or mobile. Because of this there’s sometimes an overlap as some are both passive and on mobile or both earning crypto and a GPT (Get Paid To) website.
The lists are obviously not complete so I invite you to keep posting new ones in the sub, as a comment to this post, or in modmail. Especially if you have sites or apps which work for one single specific country I can start building a list, just like I did for The Netherlands and Belgium. If you recognize things which are in fact scams or not worth it let me know as well.

Beermoney opportunities

Get Paid To (Surveys, tasks, offers, videos, clicking links, play games, searching)
Register here How to earn Payment proof Sign-up bonus code
ySense - The best global site Surveys, tasks, offers, videos Paypal, Paypal /
PrizeRebel Surveys, tasks, offers, videos Paypal, Paypal Enter code 'beermoneyglobal'
SerpClix Google searching Paypal, Paypal /
Swagbucks & SwagButton Surveys, tasks, offers, videos, shopping & cashback, games, apps Paypal /
GG2U Surveys, tasks, offers, videos Paypal $1.00 if register here
Keep Rewarding Surveys, tasks, offers, videos, PTC Pending $0.25 if register here
Ebesucher Surfing, reading mails Bank transfer /
Reward XP Surveys, tasks, offers, videos Paypal $0.50 if register here
Gain.gg Surveys, tasks, offers, videos Paypal $0.10 if register here
Timebucks Surveys, tasks, offers, videos, Tik Tok, Shopping Bitcoin $1.00 if register here
GamerMine Surveys, offers, videos, tasks, Pending $1.00 if register here
Gamehag Tasks, offers, play games, post on forum, writing Pending /
BTCSurveys Surveys Pending /
FruitLab Watch & upload video game clips Pending 100 pips if register here
Clickworker Transcripts, tasks, UHRS (categorizing), surveys Paypal /
FreeSkins Surveys, offers, tasks, videos Pending 100 coins if register here
iRazoo Games, surveys, videos, offers, apps Pending Enter code 'AK7DB2' for 500 points when signing up
EarnCrypto Data entry, surveys, offers, tasks, videos, games, apps Pending /
Blockreward Apps, surveys, videos, tasks, offers Pending $2.00 if register here and earn 20000b + $2.00 if earn 10000b within 30 days
PaidViewPoint Surveys Paypal /
GrabPoints Suverys, videos, offers, games, apps Pending 500 points if register here
RewardingWays Surveys, offers, tasks, videos, contests Pending $0.20 if register here
SuperPay Surveys, offers, tasks, videos, contests Pending $0.20 if register here
InstaGC Surveys, tasks, videos, apps Pending /
GiftHunterClub Surveys, offers, videos, apps, games Pending $0.75 if register here
Idle-Empire Surveys, offers, videos, mining, apps, games Pending 500 points if register here
PicoWorkers Tasks, games, apps Pending /
ViewFruit Surveys Pending /
Mobrog (change language if needed) Surveys Pending /
Surveytime Surveys Pending /
Giveaway Pros Offers, videos Pending /
SEO Sprint (Russian, use Google Translate) Tasks Pending /
Earnhoney Surveys, tasks, offers, videos Pending /
Toluna Surveys Pending /
Spidermetrix Surveys Pending /
BeerSurveys Surveys, tasks, offers Pending /
CrowdHolding Co-create with startups Pending /
Diaworkers Tasks Pending /
Presearch Search & Earn Pending /
Univox Community Surveys Pending /
YouGov Surveys Pending /
Spare5 Tasks Paypal /
Rewardia Surveys, polls, games, videos, puzzles, trivia Pending 3000 points extra (when you earn 3000 points) if register here
Earnably Surveys, tasks, offers, videos Pending /
Neevo Tasks Pending /
Rakuten Insight (country specific links) Surveys Pending /
The Panel Station Surveys Pending /
Remotasks Tasks Pending /
Pureprofile Surveys Pending /
UserCrowd Tasks PayPal /
Sruvey Village Surveys Pending /
InboxDollars/InboxPounds Surveys, offers, videos, shopping Pending /
Qmee Surveys Pending /
MicroWorkers Tasks Pending /
Cinchbucks Surveys, offers, tasks, videos Pending /
Rewards1 Suverys, videos, offers, games, apps, polls, contests Pending /
Vindale Surveys Pending /
PointClub Surveys Pending /
TGM Panel Surveys Pending /
PaidPoints Tasks, offers, traffic exchange, ad clicking Pending /
RapidWorkers Tasks Pending /
AnyTask Sell your skills Pending /
Bounty0x Tasks Pending /
Opinion World Surveys Pending /
Lifepoints Surveys Pending /
HiveMicro Tasks, transcribing, categorizing Pending /
Passive (desktop & mobile)
Register here How to earn Payment proof Sign-up bonus code
HoneyGain Desktop & mobile phone bandwith sharing (wifi + data) Paypal, Paypal $5.00 if register here
FluidStack Desktop bandwith sharing (Linux needed) Paypal /
PacketStream Desktop bandwith sharing Paypal /
LoadTeam CPU power sharing Pending $0.20 if register here
Gener8 Browser extension Pending 10 tokens if register here
Kryptex Crypto mining Bitcoin /
Ebesucher Surfing, reading mails Bank transfer /
Honeyminer Mining Pending 1000 satoshis if register here
LazyBucks Rent out your Facebook account Pending /
HideoutTV and link to Reward XP to cashout Videos Paypal /
Honey Discounts & Cashback / 500 Honey Gold if register here
Fitplay Games Pending $0.33 if register here
Mistplay Games Pending /
Money SMS Receive SMS Pending /
McMoney Receive SMS Pending $0.22 if using code '60LGG3PR'
SMS Profit Net Receive SMS Pending /
Simcash Send SMS [risky] Pending /
Cash4sms Send [risky] & receive SMS Pending /
ControlMySMS Receive SMS Pending /
Birdchain Send SMS [risky] Pending /
Sweatcoin Walking Pending /
COIN Explore Pending 1000 coins if register here
Panel App Surveys, location sharing Pending /
Phoneum Games, mining Pending /
Crypto (faucets, mining, GPT)
Register here How to earn Payment proof Sign-up bonus code
Cointiply Faucet, surveys, tasks, offers, videos Bitcoin Enter code 'beermoneyglobal'
FreeBitcoin Faucet, lottery, betting, passive interest Bitcoin /
AdBTC Click ads, active window surfing, autosurfing Pending /
Faucetpay Faucet Wallet, exchange, offers, tasks, trading Pending /
Faucet Crypto Faucet, ads clicking, offers, shortlinks Pending /
More Money Faucet, ads clicking, offers, shortlinks Pending /
Kryptex Crypto mining Pending /
Quicrypto Surveys, tasks, offers, games, videos Pending /
Coinpot Faucet Bitcoin /
Honeyminer Mining Pending 1000 satoshis if register here
BitShark Faucet, games Pending /
Publish0x Read & write articles Pending /
Starbits Faucet (need FaucetPay account) Pending /
Coinpayu Ads clicking, videos, offers Pending /
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For The Netherlands there are a few very good options next to a bunch of ‘spaarprogramma’s. There ‘spaarprogramma’s are all the same where you receive and click a bunch of e-mails, advertisements, banners,... I advise you to create a separate e-mail address or use a good filter in your inbox as you will be spammed to death. I believe they can be a nice piece of beermoney but they take quite the effort.
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The one-time sign-up bonus programs are still to be found here. If you find a new one let me know so I can create the post to keep all the ref links together.

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submitted by Proim to beermoneyglobal [link] [comments]

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

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

Popular Exchanges

eToro
Coinbase
Coinmama

Buy Litecoin with Credit Card or Debit Card

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

Coinbase

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

Coinmama

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

BitPanda

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

CEX.io

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

Buy Litecoin with Bank Account or Bank Transfer

Coinbase

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

BitPanda

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

CEX.io

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

Binance

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

Get a Litecoin Wallet

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

Other Methods to Buy Litecoin

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

Buy Litecoin with PayPal

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

Buy Litecoin with Cash

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

Buy Litecoin with Bitcoin

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

Buy Litecoin with Skrill

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

Cryptmixer

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

Buy Litecoin with Ethereum

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

Cryptmixer

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

Poloniex

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

ShapeShift

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

Frequently Asked Questions About Buying Litecoin

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

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

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

How much is a Litecoin worth?

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

How do I buy Ripple (XRP) with Litecoin?

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

How long does Litecoin take to confirm?

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

How many Litoshis make one Litecoin?

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

Where do I store Litecoin?

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

When is the Litecoin halving?

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

Why can litecoin take so long to buy?

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

How do I buy Litecoin with Paypal?

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

Can you buy partial litecoins?

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

Can you sell litecoin?

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

Can anyone buy litecoins?

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

Which payment method is best to use?

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

Is it better to mine or buy litecoins?

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

What should I do with my litecoins once I buy?

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

How to find your Bitcoin wallet address on Coinbase.com Coinbase – How to find your Bitcoin Wallet address 2020 ... How to find your bitcoin wallet address on Coinbase.com? Coinbase - How to Find your Bitcoin wallet address How to Send Bitcoin from Coinbase to your Exodus wallet ...

Any address you create here will remain associated with your Coinbase account forever. You can generate as many addresses as you like. Select the Details button next to any address to display the corresponding QR code. These work similar to barcodes at the grocery store, and can be scanned with a smartphone to reveal your address. You can find your Bitcoin Cash (BCH) or Bitcoin Core (BTC) address for receiving payments into your Bitcoin.com wallet by tapping "Receive" on the bottom tool bar of your wallet. Your address will be the long string of numbers and letters directly below the QR code for that address. If the person/company is sending you BCH then select one of ... You can find your unique crypto addresses from your computer or the Coinbase mobile app. Computer. Sign into your coinbase account; Go to Crypto addresses Under Asset, click Add to get the QR code for each crytpocurrency; You can also click All Assets near the top to choose a different crytpocurrency; Mobile bitcoin news: Coinbase - How to Find your Bitcoin wallet address Hey friend! A web server (on a mobile device or computer) will locate your special crypto addresses on the Crypto Addresses tab in your Settings. Sign into your account at coinbase. Go to Addresses for Crypto. Click Add under Asset to get the QR c...

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How to find your Bitcoin wallet address on Coinbase.com

Coinbase - How to Find your Bitcoin wallet address For Business Inquiries:- [email protected] ... If you want to know how to get your wallet address to either send money, receive or you simply just want to know its very simple and easy just watch the vide... COINBASE TUTORIAL, COINBASE APP COINBASE WALLET COINBASE ADDRESS FIND ME ON FACEBOOK https://www.facebook.com/thetuckerturf Coinbase - How to Find your Bitcoin wallet address - Duration: 2:36. Plebeian Network 80,758 views. 2:36 ... How to create a new wallet address on coinbase - Duration: 2:54. Jerry John Drah 1,400 ... If you want to someone to send you money to your Bitcoin account, Give them this address. you may donate to our network via Bitcoin as well :) Bitcoin addres...

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