Lost Your Bitcoin? Here Is How You Can Recover It ...

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How can bitcoin be corrupted?

I'm guessing this has been addressed somewhere, thoroughly, but I haven't seen it and it's important to hammer out.
Is it possible for developers to sneak code in, or manipulate the market?
Is it possible for 'volunteer coders' to sneak code in?
Is it possible for groups to find exploits in the code (I'm guessing this is far less likely)?
Regarding a newer, better online currency one day replacing Bitcoin, can we try to predict now why it will better?
Edit: It's not helpful to downvote any post that's vaguely critical of Bitcoin, this type of criticism is vital to its success.
submitted by myusernameranoutofsp to Bitcoin [link] [comments]

"I've always been a Bitcoin opponent... but we need something that can't be corrupted by government, and that's Bitcoin or another cryptocurrency" Billionaire investor George Ball

submitted by Bitcoin1776 to Bitcoin [link] [comments]

"I've always been a Bitcoin opponent... but we need something that can't be corrupted by government, and that's Bitcoin or another cryptocurrency" Billionaire investor George Ball

submitted by AlcoholicMexican to BitcoinSerious [link] [comments]

"I've always been a Bitcoin opponent... but we need something that can't be corrupted by government, and that's Bitcoin or another cryptocurrency" Billionaire investor George Ball

submitted by sexyama to crypto_currency [link] [comments]

"I've always been a Bitcoin opponent... but we need something that can't be corrupted by government, and that's Bitcoin or another cryptocurrency" Billionaire investor George Ball

submitted by noblessejerry to BlockchainStartups [link] [comments]

"I've always been a Bitcoin opponent... but we need something that can't be corrupted by government, and that's Bitcoin or another cryptocurrency" Billionaire investor George Ball (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

**DOLLERO NEWS** Andreas Antonopoulos: A Simple Reason Why Bitcoin Can’t Be Regulated! It is increasingly being said whether cryptocurrencies have a chance to replace classic money or even the whole system. In today's corrupt times, it would be better if things were governed by pure mathematics...

**DOLLERO NEWS** Andreas Antonopoulos: A Simple Reason Why Bitcoin Can’t Be Regulated! It is increasingly being said whether cryptocurrencies have a chance to replace classic money or even the whole system. In today's corrupt times, it would be better if things were governed by pure mathematics... submitted by DolleroTechnology to u/DolleroTechnology [link] [comments]

Bitcoin needs a constitution so that it can't be corrupted from what Satoshi envisioned.

As the recent article about Coin Validation on Bitcoinism shows, Bitcoins core principles are at risk of being compromised in order to satiate regulatory agencies and increase the adoption rate.
We need is a constitution written up by the developers and mining pool operators that will unite them against any attack on the bitcoin ecosystem to regulate it into some sort of govcoin.
The real power of Bitcoin lies in its decentralized nature where you can vote on changes with raw hashing power so we need to unite the miners and pool operators to only support a version of Bitcoin that doesn't break the core principals of Satoshi.
It was only a matter of time before the governments of the world started to feel the pressure of a free and for the people currency. And now they're trying to strike us down in our infancy while we're still gaining traction. And this won't be the last attempt. We as a community need to come together and fight back and by sticking to our principles we will win.
submitted by selectxxyba to Bitcoin [link] [comments]

05-19 20:25 - 'He has not been cleared of obstruction that is a lie. He can be indicted but it is DoJ policy not to. He’s literally being protected by corrupt people not the law. The economy is not booming unless you’re describing th...' by /u/BoronButterfly removed from /r/Bitcoin within 157-167min

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He has not been cleared of obstruction that is a lie. He can be indicted but it is DoJ policy not to. He’s literally being protected by corrupt people not the law. The economy is not booming unless you’re describing the sound of our debt exploding.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: BoronButterfly
submitted by removalbot to removalbot [link] [comments]

Wait, the Bitcoin Core Devs can be corrupted

There are only 5 bitcoin core devs right? What if they all collude to sabotage the network with a code change? They don't need approval of the network to do so!
That means that bitcoin isn't truly trustless. We are trusting 5 devs instead of government backed banks!
Please tell me I'm wrong.
submitted by llSourcell to Bitcoin [link] [comments]

"Bitcoin has zero maintaining balance, does not require a credit check, is corruption-resistant, and can potentially grow in value over time. These aren't just “cool" features. These features collectively represent the only financial services that these economic tiers could hope to be eligible for."

submitted by Godfreee to Bitcoin [link] [comments]

Why Bitcoin can't be corrupted.

One of our biggest fears is that any government or powerful entity will succeed in changing the protocol fundamentals, downsizing Bitcoin to another Paypal-like payment system.
Either by co-opting the developers team, or controlling the mining manufacturing or process, or any other dirty tricks.
Nothing is less correct. Due to the open architecture of Bitcoin, any attempt to do so will be early exposed and neutralized.
The Chinese (or Russians, or Indians, or Brazilians, or Israelis, or whatever) government will not sit down happily, letting their adversary countries to take control of the currency they also use and own.
With the help of their own scientifics, cryptographers and programing geniuses, will whistleblow any attempt to do so, and will eventually take every possible countermeasure to prevent that control.
So any power trying to corrupt the protocol, will be controlled by it’s counterparty competitors, and multitude of worldwide crypto-punks will be vigilant about any malware introduction attempt.
Many wallet and protocol implementations will compete not only in functionality, but in a faithful implementation of Satoshi’s postulates, which will bring majority adoption.
In brief, you simply cannot hide a backdoor, or silently corrupt the Bitcoin protocol under the brilliant light of the open source sun.
submitted by peperulo to Bitcoin [link] [comments]

Blockchain can be used to fight corruption, increase transpa... #blockchain #bitcoin #btc cryptocurrency… https://t.co/Qgv8Yp5uXL - Crypto Insider Info - Whales's

Posted at: July 9, 2018 at 10:12AM
By:
Blockchain can be used to fight corruption, increase transpa... #blockchain #bitcoin #btc cryptocurrency… https://t.co/Qgv8Yp5uXL
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submitted by cryptotradingbot to cryptobots [link] [comments]

Agents working on Silk Road case charged with theft and money laundering. Believed to have stolen directly from the Silk Road and $300,000 from a californian man, depositing directly into personal accounts. This article is proof that bitcoin can be used to fight corruption in the government.

submitted by Cryptolution to news [link] [comments]

The thing that hurts me the most to see about the censorship and corruption in Bitcoin, is that these individuals are sacrificing the good that Bitcoin can bring to entire world, for their own greedy self-interests. We could be helping people in countries who really need help. /r/btc

The thing that hurts me the most to see about the censorship and corruption in Bitcoin, is that these individuals are sacrificing the good that Bitcoin can bring to entire world, for their own greedy self-interests. We could be helping people in countries who really need help. /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I think corruption can be the next big market for bitcoin, if Sheldon Silver used bitcoin he may have gotten away with it

I think corruption can be the next big market for bitcoin, if Sheldon Silver used bitcoin he may have gotten away with it submitted by JustStunning to Bitcoin [link] [comments]

[Spoilers S7] Here's what we know about the state of Earth before the bombs

Here's a compiled list of what Earth was like pre-apocalypse using details from the show. Jason Rothenberg has said if the prequel gets greenlit, he wants to implement a lot of flashbacks LOST style. These flashbacks may include references to the following:

Oil Depletion

Dust Storms

Water Shortages

Global Warming

Global Pandemic

Overpopulation

Technological Advancements

Becca Franko, The Tech Celebrity

Financial Crisis

Drug Legalization

Battles in U.S. Cities

Resistance Groups & Terrorism

Asteroid Mining Penal Colony

Corrupt U.S. Government

Cult Mentality & Conspiracy Theories

That's what I got. If you spotted anything else from the show, feel free to share! :)
Edit: Thanks everyone for the kind words and the awards! Also, thanks to clwrutgers for asking me to make this list.
submitted by Sharoza to The100 [link] [comments]

How to hide your bitcoin footprint on mobile?

Rampant police corruption in Nigeria means that simply having bitcoin apps and messages on your mobile device increases the risk of either any funds you hold being stolen or you being held until you pay a "bribe" to secure your release (i.e., extortion).
"In Nigeria you can’t do crypto currency #bitcoin without the fear of SARS @PoliceNG 👮‍♀️ seize your📱unlawfuly, instructs you to unlock it at gun point, invades your privacy scrolls through your apps & as soon as they see $ 💵 symbol you are tagged a criminal"
"What business does SARS have with checking our bank credit alerts?????"
"What business do SARS have with checking our bitcoin wallet????"
"What business do SARS have with going through our social media apps?????"
Now, due to protests over the weekend, the specific department (SARS) that was the most egregious is reportedly going to be disbanded, but the practice of extortion is not limited to that one police department.
What are ways to hide your bitcoin footprint on a mobile so that even corrupt police aren't able to tell that you hold or use bitcoin (at least, without doing forensics / cracking)?
I know of the ability to create multiple Android profiles, for instance, but I don't know if there's a way to hide them so that the only visible profile is an inert profile.
The methods will vary between Android and iOS, I presume. I'm more interested in Android, but if there are methods for iOS as well, please share.
submitted by cointastical to Bitcoin [link] [comments]

Comparison between Avalanche, Cosmos and Polkadot

Comparison between Avalanche, Cosmos and Polkadot
Reposting after was mistakenly removed by mods (since resolved - Thanks)
A frequent question I see being asked is how Cosmos, Polkadot and Avalanche compare? Whilst there are similarities there are also a lot of differences. This article is not intended to be an extensive in-depth list, but rather an overview based on some of the criteria that I feel are most important.
For better formatting see https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b
https://preview.redd.it/e8s7dj3ivpq51.png?width=428&format=png&auto=webp&s=5d0463462702637118c7527ebf96e91f4a80b290

Overview

Cosmos

Cosmos is a heterogeneous network of many independent parallel blockchains, each powered by classical BFT consensus algorithms like Tendermint. Developers can easily build custom application specific blockchains, called Zones, through the Cosmos SDK framework. These Zones connect to Hubs, which are specifically designed to connect zones together.
The vision of Cosmos is to have thousands of Zones and Hubs that are Interoperable through the Inter-Blockchain Communication Protocol (IBC). Cosmos can also connect to other systems through peg zones, which are specifically designed zones that each are custom made to interact with another ecosystem such as Ethereum and Bitcoin. Cosmos does not use Sharding with each Zone and Hub being sovereign with their own validator set.
For a more in-depth look at Cosmos and provide more reference to points made in this article, please see my three part series — Part One, Part Two, Part Three
(There's a youtube video with a quick video overview of Cosmos on the medium article - https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b)

Polkadot

Polkadot is a heterogeneous blockchain protocol that connects multiple specialised blockchains into one unified network. It achieves scalability through a sharding infrastructure with multiple blockchains running in parallel, called parachains, that connect to a central chain called the Relay Chain. Developers can easily build custom application specific parachains through the Substrate development framework.
The relay chain validates the state transition of connected parachains, providing shared state across the entire ecosystem. If the Relay Chain must revert for any reason, then all of the parachains would also revert. This is to ensure that the validity of the entire system can persist, and no individual part is corruptible. The shared state makes it so that the trust assumptions when using parachains are only those of the Relay Chain validator set, and no other. Interoperability is enabled between parachains through Cross-Chain Message Passing (XCMP) protocol and is also possible to connect to other systems through bridges, which are specifically designed parachains or parathreads that each are custom made to interact with another ecosystem such as Ethereum and Bitcoin. The hope is to have 100 parachains connect to the relay chain.
For a more in-depth look at Polkadot and provide more reference to points made in this article, please see my three part series — Part One, Part Two, Part Three
(There's a youtube video with a quick video overview of Polkadot on the medium article - https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b)

Avalanche

Avalanche is a platform of platforms, ultimately consisting of thousands of subnets to form a heterogeneous interoperable network of many blockchains, that takes advantage of the revolutionary Avalanche Consensus protocols to provide a secure, globally distributed, interoperable and trustless framework offering unprecedented decentralisation whilst being able to comply with regulatory requirements.
Avalanche allows anyone to create their own tailor-made application specific blockchains, supporting multiple custom virtual machines such as EVM and WASM and written in popular languages like Go (with others coming in the future) rather than lightly used, poorly-understood languages like Solidity. This virtual machine can then be deployed on a custom blockchain network, called a subnet, which consist of a dynamic set of validators working together to achieve consensus on the state of a set of many blockchains where complex rulesets can be configured to meet regulatory compliance.
Avalanche was built with serving financial markets in mind. It has native support for easily creating and trading digital smart assets with complex custom rule sets that define how the asset is handled and traded to ensure regulatory compliance can be met. Interoperability is enabled between blockchains within a subnet as well as between subnets. Like Cosmos and Polkadot, Avalanche is also able to connect to other systems through bridges, through custom virtual machines made to interact with another ecosystem such as Ethereum and Bitcoin.
For a more in-depth look at Avalanche and provide more reference to points made in this article, please see here and here
(There's a youtube video with a quick video overview of Avalanche on the medium article - https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b)

Comparison between Cosmos, Polkadot and Avalanche

A frequent question I see being asked is how Cosmos, Polkadot and Avalanche compare? Whilst there are similarities there are also a lot of differences. This article is not intended to be an extensive in-depth list, but rather an overview based on some of the criteria that I feel are most important. For a more in-depth view I recommend reading the articles for each of the projects linked above and coming to your own conclusions. I want to stress that it’s not a case of one platform being the killer of all other platforms, far from it. There won’t be one platform to rule them all, and too often the tribalism has plagued this space. Blockchains are going to completely revolutionise most industries and have a profound effect on the world we know today. It’s still very early in this space with most adoption limited to speculation and trading mainly due to the limitations of Blockchain and current iteration of Ethereum, which all three of these platforms hope to address. For those who just want a quick summary see the image at the bottom of the article. With that said let’s have a look

Scalability

Cosmos

Each Zone and Hub in Cosmos is capable of up to around 1000 transactions per second with bandwidth being the bottleneck in consensus. Cosmos aims to have thousands of Zones and Hubs all connected through IBC. There is no limit on the number of Zones / Hubs that can be created

Polkadot

Parachains in Polkadot are also capable of up to around 1500 transactions per second. A portion of the parachain slots on the Relay Chain will be designated as part of the parathread pool, the performance of a parachain is split between many parathreads offering lower performance and compete amongst themselves in a per-block auction to have their transactions included in the next relay chain block. The number of parachains is limited by the number of validators on the relay chain, they hope to be able to achieve 100 parachains.

Avalanche

Avalanche is capable of around 4500 transactions per second per subnet, this is based on modest hardware requirements to ensure maximum decentralisation of just 2 CPU cores and 4 GB of Memory and with a validator size of over 2,000 nodes. Performance is CPU-bound and if higher performance is required then more specialised subnets can be created with higher minimum requirements to be able to achieve 10,000 tps+ in a subnet. Avalanche aims to have thousands of subnets (each with multiple virtual machines / blockchains) all interoperable with each other. There is no limit on the number of Subnets that can be created.

Results

All three platforms offer vastly superior performance to the likes of Bitcoin and Ethereum 1.0. Avalanche with its higher transactions per second, no limit on the number of subnets / blockchains that can be created and the consensus can scale to potentially millions of validators all participating in consensus scores ✅✅✅. Polkadot claims to offer more tps than cosmos, but is limited to the number of parachains (around 100) whereas with Cosmos there is no limit on the number of hubs / zones that can be created. Cosmos is limited to a fairly small validator size of around 200 before performance degrades whereas Polkadot hopes to be able to reach 1000 validators in the relay chain (albeit only a small number of validators are assigned to each parachain). Thus Cosmos and Polkadot scores ✅✅
https://preview.redd.it/2o0brllyvpq51.png?width=1000&format=png&auto=webp&s=8f62bb696ecaafcf6184da005d5fe0129d504518

Decentralisation

Cosmos

Tendermint consensus is limited to around 200 validators before performance starts to degrade. Whilst there is the Cosmos Hub it is one of many hubs in the network and there is no central hub or limit on the number of zones / hubs that can be created.

Polkadot

Polkadot has 1000 validators in the relay chain and these are split up into a small number that validate each parachain (minimum of 14). The relay chain is a central point of failure as all parachains connect to it and the number of parachains is limited depending on the number of validators (they hope to achieve 100 parachains). Due to the limited number of parachain slots available, significant sums of DOT will need to be purchased to win an auction to lease the slot for up to 24 months at a time. Thus likely to lead to only those with enough funds to secure a parachain slot. Parathreads are however an alternative for those that require less and more varied performance for those that can’t secure a parachain slot.

Avalanche

Avalanche consensus scan scale to tens of thousands of validators, even potentially millions of validators all participating in consensus through repeated sub-sampling. The more validators, the faster the network becomes as the load is split between them. There are modest hardware requirements so anyone can run a node and there is no limit on the number of subnets / virtual machines that can be created.

Results

Avalanche offers unparalleled decentralisation using its revolutionary consensus protocols that can scale to millions of validators all participating in consensus at the same time. There is no limit to the number of subnets and virtual machines that can be created, and they can be created by anyone for a small fee, it scores ✅✅✅. Cosmos is limited to 200 validators but no limit on the number of zones / hubs that can be created, which anyone can create and scores ✅✅. Polkadot hopes to accommodate 1000 validators in the relay chain (albeit these are split amongst each of the parachains). The number of parachains is limited and maybe cost prohibitive for many and the relay chain is a ultimately a single point of failure. Whilst definitely not saying it’s centralised and it is more decentralised than many others, just in comparison between the three, it scores ✅
https://preview.redd.it/ckfamee0wpq51.png?width=1000&format=png&auto=webp&s=c4355f145d821fabf7785e238dbc96a5f5ce2846

Latency

Cosmos

Tendermint consensus used in Cosmos reaches finality within 6 seconds. Cosmos consists of many Zones and Hubs that connect to each other. Communication between 2 zones could pass through many hubs along the way, thus also can contribute to latency times depending on the path taken as explained in part two of the articles on Cosmos. It doesn’t need to wait for an extended period of time with risk of rollbacks.

Polkadot

Polkadot provides a Hybrid consensus protocol consisting of Block producing protocol, BABE, and then a finality gadget called GRANDPA that works to agree on a chain, out of many possible forks, by following some simpler fork choice rule. Rather than voting on every block, instead it reaches agreements on chains. As soon as more than 2/3 of validators attest to a chain containing a certain block, all blocks leading up to that one are finalized at once.
If an invalid block is detected after it has been finalised then the relay chain would need to be reverted along with every parachain. This is particularly important when connecting to external blockchains as those don’t share the state of the relay chain and thus can’t be rolled back. The longer the time period, the more secure the network is, as there is more time for additional checks to be performed and reported but at the expense of finality. Finality is reached within 60 seconds between parachains but for external ecosystems like Ethereum their state obviously can’t be rolled back like a parachain and so finality will need to be much longer (60 minutes was suggested in the whitepaper) and discussed in more detail in part three

Avalanche

Avalanche consensus achieves finality within 3 seconds, with most happening sub 1 second, immutable and completely irreversible. Any subnet can connect directly to another without having to go through multiple hops and any VM can talk to another VM within the same subnet as well as external subnets. It doesn’t need to wait for an extended period of time with risk of rollbacks.

Results

With regards to performance far too much emphasis is just put on tps as a metric, the other equally important metric, if not more important with regards to finance is latency. Throughput measures the amount of data at any given time that it can handle whereas latency is the amount of time it takes to perform an action. It’s pointless saying you can process more transactions per second than VISA when it takes 60 seconds for a transaction to complete. Low latency also greatly increases general usability and customer satisfaction, nowadays everyone expects card payments, online payments to happen instantly. Avalanche achieves the best results scoring ✅✅✅, Cosmos with comes in second with 6 second finality ✅✅ and Polkadot with 60 second finality (which may be 60 minutes for external blockchains) scores ✅
https://preview.redd.it/kzup5x42wpq51.png?width=1000&format=png&auto=webp&s=320eb4c25dc4fc0f443a7a2f7ff09567871648cd

Shared Security

Cosmos

Every Zone and Hub in Cosmos has their own validator set and different trust assumptions. Cosmos are researching a shared security model where a Hub can validate the state of connected zones for a fee but not released yet. Once available this will make shared security optional rather than mandatory.

Polkadot

Shared Security is mandatory with Polkadot which uses a Shared State infrastructure between the Relay Chain and all of the connected parachains. If the Relay Chain must revert for any reason, then all of the parachains would also revert. Every parachain makes the same trust assumptions, and as such the relay chain validates state transition and enables seamless interoperability between them. In return for this benefit, they have to purchase DOT and win an auction for one of the available parachain slots.
However, parachains can’t just rely on the relay chain for their security, they will also need to implement censorship resistance measures and utilise proof of work / proof of stake for each parachain as well as discussed in part three, thus parachains can’t just rely on the security of the relay chain, they need to ensure sybil resistance mechanisms using POW and POS are implemented on the parachain as well.

Avalanche

A subnet in Avalanche consists of a dynamic set of validators working together to achieve consensus on the state of a set of many blockchains where complex rulesets can be configured to meet regulatory compliance. So unlike in Cosmos where each zone / hub has their own validators, A subnet can validate a single or many virtual machines / blockchains with a single validator set. Shared security is optional

Results

Shared security is mandatory in polkadot and a key design decision in its infrastructure. The relay chain validates the state transition of all connected parachains and thus scores ✅✅✅. Subnets in Avalanche can validate state of either a single or many virtual machines. Each subnet can have their own token and shares a validator set, where complex rulesets can be configured to meet regulatory compliance. It scores ✅ ✅. Every Zone and Hub in cosmos has their own validator set / token but research is underway to have the hub validate the state transition of connected zones, but as this is still early in the research phase scores ✅ for now.
https://preview.redd.it/pbgyk3o3wpq51.png?width=1000&format=png&auto=webp&s=61c18e12932a250f5633c40633810d0f64520575

Current Adoption

Cosmos

The Cosmos project started in 2016 with an ICO held in April 2017. There are currently around 50 projects building on the Cosmos SDK with a full list can be seen here and filtering for Cosmos SDK . Not all of the projects will necessarily connect using native cosmos sdk and IBC and some have forked parts of the Cosmos SDK and utilise the tendermint consensus such as Binance Chain but have said they will connect in the future.

Polkadot

The Polkadot project started in 2016 with an ICO held in October 2017. There are currently around 70 projects building on Substrate and a full list can be seen here and filtering for Substrate Based. Like with Cosmos not all projects built using substrate will necessarily connect to Polkadot and parachains or parathreads aren’t currently implemented in either the Live or Test network (Kusama) as of the time of this writing.

Avalanche

Avalanche in comparison started much later with Ava Labs being founded in 2018. Avalanche held it’s ICO in July 2020. Due to lot shorter time it has been in development, the number of projects confirmed are smaller with around 14 projects currently building on Avalanche. Due to the customisability of the platform though, many virtual machines can be used within a subnet making the process incredibly easy to port projects over. As an example, it will launch with the Ethereum Virtual Machine which enables byte for byte compatibility and all the tooling like Metamask, Truffle etc. will work, so projects can easily move over to benefit from the performance, decentralisation and low gas fees offered. In the future Cosmos and Substrate virtual machines could be implemented on Avalanche.

Results

Whilst it’s still early for all 3 projects (and the entire blockchain space as a whole), there is currently more projects confirmed to be building on Cosmos and Polkadot, mostly due to their longer time in development. Whilst Cosmos has fewer projects, zones are implemented compared to Polkadot which doesn’t currently have parachains. IBC to connect zones and hubs together is due to launch Q2 2021, thus both score ✅✅✅. Avalanche has been in development for a lot shorter time period, but is launching with an impressive feature set right from the start with ability to create subnets, VMs, assets, NFTs, permissioned and permissionless blockchains, cross chain atomic swaps within a subnet, smart contracts, bridge to Ethereum etc. Applications can easily port over from other platforms and use all the existing tooling such as Metamask / Truffle etc but benefit from the performance, decentralisation and low gas fees offered. Currently though just based on the number of projects in comparison it scores ✅.
https://preview.redd.it/4zpi6s85wpq51.png?width=1000&format=png&auto=webp&s=e91ade1a86a5d50f4976f3b23a46e9287b08e373

Enterprise Adoption

Cosmos

Cosmos enables permissioned and permissionless zones which can connect to each other with the ability to have full control over who validates the blockchain. For permissionless zones each zone / hub can have their own token and they are in control who validates.

Polkadot

With polkadot the state transition is performed by a small randomly selected assigned group of validators from the relay chain plus with the possibility that state is rolled back if an invalid transaction of any of the other parachains is found. This may pose a problem for enterprises that need complete control over who performs validation for regulatory reasons. In addition due to the limited number of parachain slots available Enterprises would have to acquire and lock up large amounts of a highly volatile asset (DOT) and have the possibility that they are outbid in future auctions and find they no longer can have their parachain validated and parathreads don’t provide the guaranteed performance requirements for the application to function.

Avalanche

Avalanche enables permissioned and permissionless subnets and complex rulesets can be configured to meet regulatory compliance. For example a subnet can be created where its mandatory that all validators are from a certain legal jurisdiction, or they hold a specific license and regulated by the SEC etc. Subnets are also able to scale to tens of thousands of validators, and even potentially millions of nodes, all participating in consensus so every enterprise can run their own node rather than only a small amount. Enterprises don’t have to hold large amounts of a highly volatile asset, but instead pay a fee in AVAX for the creation of the subnets and blockchains which is burnt.

Results

Avalanche provides the customisability to run private permissioned blockchains as well as permissionless where the enterprise is in control over who validates the blockchain, with the ability to use complex rulesets to meet regulatory compliance, thus scores ✅✅✅. Cosmos is also able to run permissioned and permissionless zones / hubs so enterprises have full control over who validates a blockchain and scores ✅✅. Polkadot requires locking up large amounts of a highly volatile asset with the possibility of being outbid by competitors and being unable to run the application if the guaranteed performance is required and having to migrate away. The relay chain validates the state transition and can roll back the parachain should an invalid block be detected on another parachain, thus scores ✅.
https://preview.redd.it/li5jy6u6wpq51.png?width=1000&format=png&auto=webp&s=e2a95f1f88e5efbcf9e23c789ae0f002c8eb73fc

Interoperability

Cosmos

Cosmos will connect Hubs and Zones together through its IBC protocol (due to release in Q1 2020). Connecting to blockchains outside of the Cosmos ecosystem would either require the connected blockchain to fork their code to implement IBC or more likely a custom “Peg Zone” will be created specific to work with a particular blockchain it’s trying to bridge to such as Ethereum etc. Each Zone and Hub has different trust levels and connectivity between 2 zones can have different trust depending on which path it takes (this is discussed more in this article). Finality time is low at 6 seconds, but depending on the number of hops, this can increase significantly.

Polkadot

Polkadot’s shared state means each parachain that connects shares the same trust assumptions, of the relay chain validators and that if one blockchain needs to be reverted, all of them will need to be reverted. Interoperability is enabled between parachains through Cross-Chain Message Passing (XCMP) protocol and is also possible to connect to other systems through bridges, which are specifically designed parachains or parathreads that each are custom made to interact with another ecosystem such as Ethereum and Bitcoin. Finality time between parachains is around 60 seconds, but longer will be needed (initial figures of 60 minutes in the whitepaper) for connecting to external blockchains. Thus limiting the appeal of connecting two external ecosystems together through Polkadot. Polkadot is also limited in the number of Parachain slots available, thus limiting the amount of blockchains that can be bridged. Parathreads could be used for lower performance bridges, but the speed of future blockchains is only going to increase.

Avalanche

A subnet can validate multiple virtual machines / blockchains and all blockchains within a subnet share the same trust assumptions / validator set, enabling cross chain interoperability. Interoperability is also possible between any other subnet, with the hope Avalanche will consist of thousands of subnets. Each subnet may have a different trust level, but as the primary network consists of all validators then this can be used as a source of trust if required. As Avalanche supports many virtual machines, bridges to other ecosystems are created by running the connected virtual machine. There will be an Ethereum bridge using the EVM shortly after mainnet. Finality time is much faster at sub 3 seconds (with most happening under 1 second) with no chance of rolling back so more appealing when connecting to external blockchains.

Results

All 3 systems are able to perform interoperability within their ecosystem and transfer assets as well as data, as well as use bridges to connect to external blockchains. Cosmos has different trust levels between its zones and hubs and can create issues depending on which path it takes and additional latency added. Polkadot provides the same trust assumptions for all connected parachains but has long finality and limited number of parachain slots available. Avalanche provides the same trust assumptions for all blockchains within a subnet, and different trust levels between subnets. However due to the primary network consisting of all validators it can be used for trust. Avalanche also has a much faster finality time with no limitation on the number of blockchains / subnets / bridges that can be created. Overall all three blockchains excel with interoperability within their ecosystem and each score ✅✅.
https://preview.redd.it/ai0bkbq8wpq51.png?width=1000&format=png&auto=webp&s=3e85ee6a3c4670f388ccea00b0c906c3fb51e415

Tokenomics

Cosmos

The ATOM token is the native token for the Cosmos Hub. It is commonly mistaken by people that think it’s the token used throughout the cosmos ecosystem, whereas it’s just used for one of many hubs in Cosmos, each with their own token. Currently ATOM has little utility as IBC isn’t released and has no connections to other zones / hubs. Once IBC is released zones may prefer to connect to a different hub instead and so ATOM is not used. ATOM isn’t a fixed capped supply token and supply will continuously increase with a yearly inflation of around 10% depending on the % staked. The current market cap for ATOM as of the time of this writing is $1 Billion with 203 million circulating supply. Rewards can be earnt through staking to offset the dilution caused by inflation. Delegators can also get slashed and lose a portion of their ATOM should the validator misbehave.

Polkadot

Polkadot’s native token is DOT and it’s used to secure the Relay Chain. Each parachain needs to acquire sufficient DOT to win an auction on an available parachain lease period of up to 24 months at a time. Parathreads have a fixed fee for registration that would realistically be much lower than the cost of acquiring a parachain slot and compete with other parathreads in a per-block auction to have their transactions included in the next relay chain block. DOT isn’t a fixed capped supply token and supply will continuously increase with a yearly inflation of around 10% depending on the % staked. The current market cap for DOT as of the time of this writing is $4.4 Billion with 852 million circulating supply. Delegators can also get slashed and lose their DOT (potentially 100% of their DOT for serious attacks) should the validator misbehave.

Avalanche

AVAX is the native token for the primary network in Avalanche. Every validator of any subnet also has to validate the primary network and stake a minimum of 2000 AVAX. There is no limit to the number of validators like other consensus methods then this can cater for tens of thousands even potentially millions of validators. As every validator validates the primary network, this can be a source of trust for interoperability between subnets as well as connecting to other ecosystems, thus increasing amount of transaction fees of AVAX. There is no slashing in Avalanche, so there is no risk to lose your AVAX when selecting a validator, instead rewards earnt for staking can be slashed should the validator misbehave. Because Avalanche doesn’t have direct slashing, it is technically possible for someone to both stake AND deliver tokens for something like a flash loan, under the invariant that all tokens that are staked are returned, thus being able to make profit with staked tokens outside of staking itself.
There will also be a separate subnet for Athereum which is a ‘spoon,’ or friendly fork, of Ethereum, which benefits from the Avalanche consensus protocol and applications in the Ethereum ecosystem. It’s native token ATH will be airdropped to ETH holders as well as potentially AVAX holders as well. This can be done for other blockchains as well.
Transaction fees on the primary network for all 3 of the blockchains as well as subscription fees for creating a subnet and blockchain are paid in AVAX and are burnt, creating deflationary pressure. AVAX is a fixed capped supply of 720 million tokens, creating scarcity rather than an unlimited supply which continuously increase of tokens at a compounded rate each year like others. Initially there will be 360 tokens minted at Mainnet with vesting periods between 1 and 10 years, with tokens gradually unlocking each quarter. The Circulating supply is 24.5 million AVAX with tokens gradually released each quater. The current market cap of AVAX is around $100 million.

Results

Avalanche’s AVAX with its fixed capped supply, deflationary pressure, very strong utility, potential to receive air drops and low market cap, means it scores ✅✅✅. Polkadot’s DOT also has very strong utility with the need for auctions to acquire parachain slots, but has no deflationary mechanisms, no fixed capped supply and already valued at $3.8 billion, therefore scores ✅✅. Cosmos’s ATOM token is only for the Cosmos Hub, of which there will be many hubs in the ecosystem and has very little utility currently. (this may improve once IBC is released and if Cosmos hub actually becomes the hub that people want to connect to and not something like Binance instead. There is no fixed capped supply and currently valued at $1.1 Billion, so scores ✅.
https://preview.redd.it/mels7myawpq51.png?width=1000&format=png&auto=webp&s=df9782e2c0a4c26b61e462746256bdf83b1fb906
All three are excellent projects and have similarities as well as many differences. Just to reiterate this article is not intended to be an extensive in-depth list, but rather an overview based on some of the criteria that I feel are most important. For a more in-depth view I recommend reading the articles for each of the projects linked above and coming to your own conclusions, you may have different criteria which is important to you, and score them differently. There won’t be one platform to rule them all however, with some uses cases better suited to one platform over another, and it’s not a zero-sum game. Blockchain is going to completely revolutionize industries and the Internet itself. The more projects researching and delivering breakthrough technology the better, each learning from each other and pushing each other to reach that goal earlier. The current market is a tiny speck of what’s in store in terms of value and adoption and it’s going to be exciting to watch it unfold.
https://preview.redd.it/dbb99egcwpq51.png?width=1388&format=png&auto=webp&s=aeb03127dc0dc74d0507328e899db1c7d7fc2879
For more information see the articles below (each with additional sources at the bottom of their articles)
Avalanche, a Revolutionary Consensus Engine and Platform. A Game Changer for Blockchain
Avalanche Consensus, The Biggest Breakthrough since Nakamoto
Cosmos — An Early In-Depth Analysis — Part One
Cosmos — An Early In-Depth Analysis — Part Two
Cosmos Hub ATOM Token and the commonly misunderstood staking tokens — Part Three
Polkadot — An Early In-Depth Analysis — Part One — Overview and Benefits
Polkadot — An Early In-Depth Analysis — Part Two — How Consensus Works
Polkadot — An Early In-Depth Analysis — Part Three — Limitations and Issues
submitted by xSeq22x to CryptoCurrency [link] [comments]

Recently I decided to change all my professional and personal plans. I left my job. I left my friends and family. I left my country. All for Bitcoin. Here is why.

Discovering my core values
I was born and raised in an upper-middle income family in Mexico City under catholic values but turned agnostic as I grew older. I kept the values that made sense, such as the importance of charity and giving back, and threw away the ones that were outdated, such as the focus on guilt as a motivator of change.
As a kid, I remember how conflicting it was to see other kids working in the streets, starving, drugged, and abused. I couldn’t understand why they couldn’t focus on their education the way I did. That planted a seed in my spirit that still grows.
Seeing in economics hope
As a teenager, I entered the rabbit hole of economics with hope. Economics seemed to be this mystical force capable of solving the world’s biggest problems: poverty, corruption, global warming, and many more. I knew that the way we were doing economics was wrong and I wanted to change that.
Just think about the horrible things that have been done under the name of communism, such as the Cambodian genocide, or how the United States, the crown jewel of capitalism, makes of fundamental rights, such as healthcare and education, profitable businesses instead of granting everyone equal access to them.
While studying my undergrad, I quickly fell out of love with the idealistic idea of economics as an almighty force that can conquer all evils. I saw how economics was often used as an excuse to force simplistic representations of culture and society into complex problems. I never understood how that approach of thinking about problems in a vacuum could be useful.
Understanding the power of financial services
Later in my life, while working as a consultant for McKinsey, I finally understood the importance of financial institutions. They decide who should do business and have access to goods and services and who shouldn’t. And financial institutions don’t grant everyone that right. It was clear to me that that was a problem that needed fixing. That’s why I devoted so much time studying this industry back then.
I came to Berkeley to Business School more out of inertia than out of will. I was sponsored by McKinsey and had an offer to go back. I didn’t know exactly what to do with the experience, but I knew I wanted to keep exploring financial services. During my MBA, I heard about Bitcoin in a serious academic environment for the first time and it immediately caught my interest.
Via Berkeley-SkyDeck, UC Berkeley's accelerator, I heard about lastbit (lastbit.io) for the first time. I read everything I could about the project and about the founder, this cool, heavy-metal lover, who wanted to change the world with the disruptive power of Bitcoin. I could see myself in him. I had to meet him. After failing to meet him in person at an event, I just cold emailed him praying for him to answer. He did.
That’s how I came in contact with Prashanth for the first time, this impressive 25-year-old genius who managed to get Charlie Lee on board of his project with little more than a prototype. There’s a reason why he managed to do this. Today Bitcoin is almost impossible to spend. With Prashanth’s his solution, anyone will be able to swipe a card or tap their phone and pay with Bitcoin instantly anywhere where they are able to pay with their credit card today. Something not so long ago possible only in bitcoiners’ dreams. Through Prashanth I finally understood what Bitcoin really is. It blew my mind.
Unveiling the real meaning of Bitcoin
Bitcoin is not an investment asset, it’s the possibility of a new social contract. Bitcoin is a decentralized, transparent, and auditable network to store and transmit value to which everyone in the world can have access to. This presents a real opportunity to redefine money, which today is inherently centralized, first by central banks, and then by financial institutions. The centralization of money has at least three critical problems that Bitcoin solves.
First, there is a macroeconomic problem that has to do with monetary policy and that today with the COVID-19 economic crisis is more relevant than ever. Money is supposed to be a reflection of real economic value, but some central banks print money arbitrarily. Bitcoin’s monetary supply is limited by design. Second, centralized financial services are discriminatory and don’t allow free access to everyone. Bitcoin is universal and free. This means that for the first time in human history, everyone will be able to participate in the global economy. And participation is the pillar of democracy. Third, central authorities control private information. The recent attacks to high profile account on Twitter illustrate how vulnerable private information is when stored in centralized networks. Bitcoin allows people to have full ownership and control of their personal and financial information, protecting both their identity and their wealth.
As such, Bitcoin emerged in front of my eyes as a way to instrument basic democratic principles in a way in which everyone can have equal representation. Money as we know it will soon be a thing of the past because money as we know it not fair nor egalitarian and now people can choose.
I had to quit McKinsey. I had to leave Mexico. I had to stay with lastbit. I had to give this project my all.
submitted by bm_bkly to Bitcoin [link] [comments]

Money is the root of all evil

Money is the root of all evil is a cliche that has existed for over 2000 years and one I only came to understand though Bitcoin.
First, it should be noted that the phrase is money is the root of all evil, not evil itself. A root is mechanism by which flora procure the resources they need to grow large and sustain their existence. In botanical terms roots are often part of the supported organism but this is not always the case as there are instances where trees hijack & take over an existing root structure to draw resources from a root that are not their own. In any case a large tree cannot exist without a root, as without a root the size of malicious botany is limited to moss and other tiny bryophyta.
Likewise the governments that tower over us and dictate our lives with onerous laws as they go about conducting wars with each other, running over dissidents with tanks, and wastefully consuming the hard-earned resources by individuals, could not exist without a root.
And that root is the existing money. Governments can of course raise taxes or borrow to fund their activities but those funding sources have real-world economic limitations that constrain the growth of a government.
There is a third source of funding--Seigniorage, the profit from the creation of new currency, that allows for then unconstrained growth of government to a level that would otherwise be impossible. And as long as this root exists, large oppressive governments will grow into oppressive regimes that rob individual citizens of their resources and even their lives.
Bitcoin's existence is incomparable with the existing root structure. It provides a more efficient tool for coordinating economic activity among this economic biosphere and does so in such a way that governments cannot extract undue resources via the creation of new currency units.
For each instance of economic activity Bitcoin will either be gained or lost. An entity that does not carefully consider this immutable truth will soon find itself without the Bitcoin necessary to conduct economic activity. In other words, the only sustainable economic activity that will be allowed will be profitable economic activity. Of course you can have unprofitable activity with Bitcoin but only when paired with activity that is profitable, and this activity when viewed in total must be profitable.
In this way Bitcoin provides a new root structure for the coordination of resources that renders the existing one obsolete. This kills all unprofitable governments--i.e. governments for whom their actions in total are considered by individuals to be not worth their total cost. You can still have government, but it will be tiny moss, constrained by economic reality to a size where it cannot cause much harm.
When can then say that money is the root of all prosperity and evil, at least on the scale of evil that only governments can commit is gone along with the corrupted root that gave rise to them.
submitted by ztsmart to Bitcoin [link] [comments]

Don't Let Them Fool You

The Legacy financial institutions would love to have you believe that Bitcoin is correlated to the overall performance of the stock market. But when pondering that possibility even for a moment you can see that their arguments fail to add up in any logical context. The reason is pretty simple really. It's because when you understand the fact that Bitcoin was created as as an alternative to the existing financial institution, and that vast majority of folks who are buying Bitcoin are ideologically aligned with preserving their own Financial autonomy and voting against the existing corrupt system. With that said and when considering that supply and demand determines value coupled with the fact that this is the world's truly first finite asset, you can see that this is just a elaborate ruse. Especially when you see that the vast majority of bitcoin haven't moved on the blockchain for a very long time.
In the short to medium-term I expect the banks will continue to try and manipulate the USD price of BTC to perpetuate The Narrative that bitcoin is correlated to the stock market performance. They will do so via a process they have done for the last few years involving their over-the-counter exchanges, cash settled Futures, and their control of the Bitcoin exchanges involving rehypothification and commingling. They do this out of their desperation to perpetuate their relavency but in the end I'm betting that they can't beat math.
As for myself I will be continuing to dollar cost average buy and buy aggressively on the dips while HODLing my own KEYS. Not because of the potential short-term dollar appreciation, but because of my vote in the system of true Freedom away from the corrupt Fiat system that we are all subjects to. I do so because I believe that more and more people will decide to vote for bitcoin and join the Dollar Cost Averaging HODL freedom fighters and that together we can and will change the world for the better for all (except the banksters).
Edit : spelling.
submitted by BitcoinCanSaveUsAll to Bitcoin [link] [comments]

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