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submitted by /u/Edge_Coleman [link] [comments] |
Saturday, 31 October 2020
I finally achieved my goal of 0.021 BTC !
Took me a full year of saving and a few stressful trades but I made it to my goal. Not much but it's a start!
Remember - not your keys, not your coins.
Stay well everyone!
What are your crypto goals?
[link] [comments]
Warning! Ledger scam text message going around
I just got a text message (!!) Saying ...
Dear (my real full name) Please visit us-ledger.com site to update Ledger firmware as the old one has a bug with the risk of losing assets
This is a scam. It is not the real ledger site. If you click on that link (DONT DO IT) you will see it takes you to a site designed to look exactly like Ledgers site.
If you download that firmware.... Youre going to lose it all.
Careful out there. Trust no one.
[link] [comments]
Bitcoin's "Digital Gold" claim is a call-out to destroy Bitcoin
So, I have been... brushing up history lessons and had some funny history reading with currencies (thanks to people explaining Cryptocurrencies), and then it made me think of something.
Bitcoin calls itself "Digital Gold", no longer P2P electronic cash.
History lessons about economics told us that the currencies we used were once backed by gold and we physically once used gold coins before that, and banks were created to make our currencies uniform.
Like the currencies we have right way back, Bitcoin was made to be a currency without a middleman, but Bank interference made it to become what it is today, a stagnated cryptocurrency coin with it's only use case being a "store of value" which depends on speculation imposed by traders of the markets.
We're essentially seeing Bitcoin being literally treated like gold, and one day it will become the first fiat cryptocurrency because the banks ruined it to the point that it no longer has value.
Or I'm just paranoid because I'm temporarily leaving the gambling side of cryptocurrency and I want to forget about them for a while.
EDIT: Some minor stuff added.
[link] [comments]
source https://www.reddit.com/r/btc/comments/jla0gh/bitcoins_digital_gold_claim_is_a_callout_to/
why did Bitcoin go up today even tho the stock market went down? I'm glad you ask, its because Grayscale ETF bought 5,190 BTC today
grayscale bitcoin ownership +added bitcoins that day
465,196.251699 BTC as of 10/16/2020 = +8,659.05
465,307.212256 BTC as of 10/19/2020 = + 110.96
465,420.277404 BTC as of 10/20/2020 = + 113.06
465,500.039475 BTC as of 10/21/2020 = + 79.76
466,591.246521 BTC as of 10/22/2020 = + 1,091.20
467,280.740948 BTC as of 10/23/2020 = + 689.49
467,511.015376 BTC as of 10/24/2020 = + 230.27
471,924.518340 BTC as of 10/27/2020 = + 4,413.50
473,139.841716 BTC as of 10/28/2020 = + 1,215.32
473,861.168652 BTC as of 10/29/2020 = + 721.32
479,052.150352 BTC as of 10/30/2020 = + 5,190.98
source: https://grayscale.co/bitcoin-trust/
Bitcoin no longer follows stocks. Bitcoin will go up regardless of what stocks, ect do. To da moon!
[link] [comments]
Friday, 30 October 2020
Make money with Offline Cloud Mining
Hi everybody, today I want to share with you this website, which gives you 100GH/s for free. The name is Cloudux, and you can simply start your account and do nothing: it mines by itself.
It's free and it takes 1 minute to set it up.
[link] [comments]
source https://www.reddit.com/r/btc/comments/jktfs8/make_money_with_offline_cloud_mining/
InfinityDefi: A Flexible, Low-Risk Crypto Collateral Lending DeFi Platform
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The cryptocurrency industry has come a long way since its inception, as the underlying technology undergoes constant evolution. The latest advancement in such development is the concept of Decentralized Finance, popularly known as DeFi. As the DeFi movement rages on, a lot of new, innovative projects have entered the market, offering a great deal of flexible financial products to the community. One such innovative project is InfinityDefi, a state-of-the-art composite cryptocurrency asset management platform that offers much-needed financial services to the community, helping them put their crypto assets to good use. Created by a team of experts in crypto, finance, technology and legal fields, InfinityDefi has positioned itself as the world’s first multi-collateral lending DeFi platform where users can deposit, lend and borrow cryptocurrencies at some of the industry’s best rates. The entire InfinityDefi ecosystem comprises a series of derivative products including multi-stablecoin index, DEX, liquidity aggregation platform, safety reserve, options and convertible debt. These products together bridge the gap between unused crypto assets and demand for short term borrowing, thereby enabling everyone involved to make profits. The InfinityDefi protocol is fuelled by the INFI ecosystem token and the PPT equity token. While INFI enables the token holders to participate in project management, control financial risk, and vote in the decision-making process, PPT act as reward tokens earned against transactions made on the platform. The PPT tokens can be exchanged with INFI. Collateral Loans on InfinityDefi InfinityDefi offers an aggregated product with crypto collateral lending and savings using a flexible pledge and redemption mechanism. On the platform, users can utilize their crypto holdings to earn interest or secure a short-term loan. Unlike other crypto lending DeFi solutions currently in the market, InfinityDefi supports secondary loans and multi-value-added loans, which helps users unlock more value and liquidity from their assets. Collateral financing on the platform can be secured from different creditors while maintaining an ultra-low pledge ratio of up to 10% less than other peers. Users can use a wide range of cryptocurrencies including DAI, USDT, USDC, TUSD, BUSD, HUSD, ETH, HT, OKB, and more as collateral for lending and borrowing. The utilization of a unique polymerization pool in conjunction with an algorithmic interest rate model that dynamically adjusts interest rates to balance supply and demand. All deposits and disbursements are directly processed from the polymerization pool, which includes servicing of the secondary loan on top of existing loans, against the initial collateral and multi-value-added loans where users can pledge the value-added part of collateral to get additional loans. By design, InfinityDefi has some of the lowest position coverage for collateral which is set at a maximum of 145% and a minimum of 125%, in case of secondary loans or a fall in the value of collateral. In addition, the platform also has an auto-liquidation feature in place that dissolves the collateral in case the value of collateralized assets falls below minimum position coverage and the borrower fails to deposit additional assets to cover for the shortfall. The liquidation of assets happens at the prevailing market price to recover the principal and outstanding interest, with any excess funds returned to the borrower. During liquidation, if the value of available collateral doesn’t cover the pool’s exposure, InfinityDefi protocol’s safety reserve will step in to cover the losses, thereby ensuring the interests of investors and borrowers are protected at all times. These features also enable InfinityDefi to provide 5% lower loan rates, 20% higher loan limits and faster capital turnover than other DeFi platforms. Advantages of InfinityDefi Collateral Loans The InfinityDefi platform allows all the stakeholders to profit from their crypto assets to earn both active as well as passive income. For those looking for earning a passive income, holding crypto assets, and waiting for their value to appreciate is not the best option, as the volatile nature of markets creates a lot of uncertainties. Instead, they can deposit their assets on INFI DApp to earn interest on their holdings. The interest rate for such deposits are directly related to the Polymerization Pool interest rate, calculated using the formula: where ‘j’ is one of the deposited cryptocurrencies which is part of the polymerization pool The deposited principal and accrued interest can be withdrawn by the user at any time. Based on the demand and supply, the interest earned on deposited assets over time can potentially turn out to be more than what the depositor would have gained by holding, more so, in case of a stablecoin. Meanwhile, collateralized loans help those either in need of funds to meet their obligations or those looking for additional liquidity for trading. The reduced interest rates, along with options for secondary and multi-value added loans make it easy to secure necessary funds for trading needs, which could help increase the margins on profitable trades. It could also be used for arbitrage, leveraging the interest rate gap on different DeFi lending platforms to generate profits instead of directly using the price difference of underlying assets. The PPT tokens earned performing each of these actions also adds to the profits. The amount of PPT earned depends on the collateral/loan amount and duration. These PPTs can be exchanged for INFI and traded on exchanges where the token is listed. Overall, InfinityDefi provides a safe, profitable, transparent, and low-risk way for users to invest and manage their crypto assets. Learn more about InfinityDefi at – https://www.infinitydefi.io/ [link] [comments] |
source https://www.reddit.com/r/btc/comments/jksonm/infinitydefi_a_flexible_lowrisk_crypto_collateral/
SIM SWAP FRAUD PREVENTION
Hi, so I just read a crypto horror story about emails and exchange accounts being compromised by identity theft aka sim swapping and cryptos being stolen. So I just called my phone provider and added a second security question for the case of someone trying to do the sim swapping.
The lady told me that anyone who has the pincode for my phone provider could theoretically do the identity theft. So my suggestion to everyone in the cryptospace is to call up your provider and ask for an added security layer in form of a question only you know the answer to.
Have a good day and keep Hodling! :)
[link] [comments]
How to get Bitcoin in your 401K
Hello all,
My company currently has our 401k set up through Merril Lynch. I called Merril to see if they offered cryptocurrencies as an option for investments in our 401k. To which I found out that my company is the entity that chooses the list of potential investments for the employees to choose from. Has anyone here attempted to get their company to open up the possibility to invest in crypto in their 401k? If so, how did you convince them?
I want to reach out to whoever handles our benefits and see if that would be a possibility. Does something like this cause the company too many problems than it may be worth?
[link] [comments]
BCHN MR !746 merged: Faster transaction relay
MR 746 is a relatively simple code change, but it has important implications for BCH's UX and scalability.
tl;dr: BCHN will now by default relay transactions 10x faster than before. This will make BCHN's transaction relay much faster than ABC, though not as fast as BU. On the flip side, BCHN will require more bandwidth than ABC at low transaction throughput rates, but less than BU. BCHN has also added the -txbroadcastinterval command-line option to allow node operators to configure this behavior more precisely.
Background on inv message batching
The inv messages for transactions are responsible for the vast majority of a node's total network traffic, since inv messages are sent per peer regardless of whether that peer needs the transaction or not. If a node is sending one inv per tx per peer, and the node has 50 peers, that results in about 120 bytes/tx/peer * 50 peers = 6000 bytes of network traffic per transaction, or roughly 6x as much traffic as is required for receiving and sending the transaction itself (assuming a typical 500 byte transaction). In this scenario, about 2/3 of the traffic is actually protocol overhead -- mostly TCP/IP overhead, but also bitcoin p2p protocol overhead. This overhead can be mitigated with batching. Using IPv4, inv messages take up about 80 + 40n bytes per message, where n is the number of transaction hashes being sent. This means that batching behavior can reduce the average traffic per peer per tx from around 120 bytes (for a batch size of 1) to around 44 bytes (for a batch size of 10). The way to achieve large batch sizes is to have a wait time before sending each tx inv to allow extra txs to be ready in each transmission. A batch size of 10 can be achieved with 20 tx/sec and an average wait time of 2 sec, for example.
If the wait time is mismatched with the transaction throughput rate, it can result in an increase in transaction propagation time without any substantial improvement in bandwidth efficiency. For example, the transaction throughput rate is currently about 0.25 tx/sec. If the wait time is 1 sec, then the typicalinv message will contain only 1 tx hash. If the wait time is increased to 2 sec, then the typical inv message will still contain only 1 tx hash. That extra second of delay would make a difference in batch size if the transaction throughput rate were 1 tx/sec, but it makes almost n o difference at 0.25 tx/sec.
On the other hand, delays like this will significantly slow down transaction propagation, and will adversely affect UX. A delay of 2 seconds per connection with 20 connections means that a node will broadcast an inv to one peer every 100 ms on average. This delay, coupled with the natural network ping times of ~100 ms, and the 1.5 round-trip time (RTT) communication needed to send a tx, means that the number of nodes who have a transaction will double roughly every (100 ms + 150 ms) = 250 ms if all network nodes used a 2 second delay with 20 peers. If the network is comprised of 8192 nodes, it would take around 3.25 seconds for a transaction to propagate through the full netowrk. This worsens BCH's UX by making transactions feel slower in 0-conf mode, and gives a much larger time window for double-spends than is desirable. Shorter delays before broadcasting inv messages mean a better experience for BCH users, and slightly better 0-conf security.
Changes in !746
With !746, BCHN makes two major changes:
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The default behavior for BCHN will be to wait an average of 500 ms between
invbroadcasts, rather than 5000 ms. Furthermore, this value can be configured at the command-line with the-txbroadcastinterval=<ms>command-line option. Lower values (shorter delays) can accelerate transaction propagation; higher values (longer delays) can reduce upstream traffic for your node and downstream traffic for your node's peers. As before, this value halved for outgoing connections: with the default value of-txbroadcastinterval=500, BCHN will make on average one batched broadcast every 500 ms on incoming connections, and one every 250 ms on outgoing connections. -
BCHN also adds a new option to configure the maximum throughput for
invannouncement messages. The default value for this option is the same as before: for each 1 MB of the block size limit, BCHN will allow 7 tx/sec on incoming connections (14 tx/sec/MB on outgoing connections). The default setting of 7 allows for up to7 tx/sec/MB * 32 MB = 224 tx/secof announcement throughput on incoming connections, or 448 tx/sec on outgoing connections. This allows a maximum-sized block (e.g. 32 MB) to be filled with 238-byte average sized transactions in 600 seconds via an incoming connection, or 300 seconds via an outgoing connection. Larger transaction sizes will result in less time being needed to reliably fill blocks. Most users will not need to touch this setting, as the default value is reasonable for most use cases. This limit provides protection against spam attacks while still allowing normal network operation to reliably fill blocks. However, modifying this setting can be useful in some circumstances, such as during stress tests, or for severely bandwidth-constrained applications. Users who are doing stress testing may wish to set this value very high in order to delimit tx broadcasting (e.g.-txbroadcastrate=9999999). Users with non-Starlink-based satellite internet (e.g. slow upstream, fast downstream) may wish to experiment with setting this to zero (i.e.-txbroadcastrate=0) to avoid relaying transactions, as an alternative to-blocksonlymode.
Comparison to other nodes
Bitcoin ABC and Bitcoin Core use an average delay of 5 seconds between broadcasts, which makes batching start at around 0.2 tx/sec. Bitcoin Unlimited uses a delay of about 10 ms, so BU's batching begins at around 100 tx/sec. BCHN will now default to using a delay of about 500 ms, or batching starting at about 2 tx/sec.
In practice, the Bitcoin Unlimited nodes on the BCH network dominate transaction propagation. While !746 makes BCHN about 10x faster at propagating transactions, it will likely only make BCH about 10% faster overall because the majority of transaction propagation is done by Bitcoin Unlimited. However, since BU nodes comprise a little less than half of all BCH nodes, there is still a significant chance for BU or non-BU nodes to form network islands, and for some nodes to have no contiguous BU-to-BU node paths to the original network sender. !746 makes BCH less reliant on BU nodes for fast transaction propagation, and makes BCH more resilient and reliably fast.
Acknowledgements
Thanks to mtrycz for writing the functional tests and to mtrycz, freetrader and Calin Culianu for code review.
[link] [comments]
source https://www.reddit.com/r/btc/comments/jknz9k/bchn_mr_746_merged_faster_transaction_relay/
Have I been scammed?
Hi Reddit,
Throwaway account as to not embarrass myself. I've recently sold a domain to a person, and I think I've been scammed. Please let me know if this isn't the right subreddit to post.
I originally listed the domain on flippa - after a while, a person contacted me saying he was interested in buying the domain name. However, he could only pay in bitcoin, and not use flippa's system. So I created a coinbase address; but then he said he couldn't transfer to coinbase, but could only use this site: https://swooden.com.
So I created an account on swooden (it didn't require any personal details) - and he transferred the coins to the my address on swooden.com - Great! I transferred him the domain, and all was good.
Now I want to transfer the coins from swooden to coinbase - however, when trying that the site says that "Failed to approve withdrawal request. You can withdraw your funds only on address, which is registered and verified with you account. To verify you address with your account you need to make a deposit from this address. Minimal amount of the deposit is 0.02 BTC."
This seems very suspicious, and I don't want to transfer coins across to the swooden site (I've only lost a domain at this point, i don't want to loose more).
It should also be noted that when I look up my Swooden BTC wallet, there hasn't been any transactions on the ledger (even though the buyer has sent me coins to the address, and I can see the coins in swooden.com)
I've done a bit of googling and swooden doesn't come up at all; looks like the site used to be for a Swedish startup with wooden toys for all children
Have I been scammed?
Thanks for any help!
[link] [comments]
Thursday, 29 October 2020
The possible scenarios on November 15
tl;dr The situation is messy and nobody really knows what will happen. Actually it might be unclear for a while with one or even multiple reorgs.
(I'll call the chains "ABC" and "BCHN", since it's unknown who will retain the BCH ticker).
The ABC chain will exist for sure unless 0% miners mine it, which seems highly unlikely. How much value the coin will have is unclear. It's also unclear if 8% of the coinbase of a coin with possibly much lower value will be enough to support development.
BCHN chain will exist only if it has more than 50% of the hashrate, which now seems likely. But signaling for BCHN isn't the same as actually mining BCHN, so it's unclear how much hashrate it will have. Also, if BCHN starts with >50% hashrate and later has <50% and ABC becomes a larger chain than BCHN, then BCHN chain will reorg to ABC chain, which means basically stopping to exist. So BCHN might exist for a while then stop existing. Then BCHN can start existing again if it has >50% hashrate again. So this can happen over and over.
A lot of the current miners are swing miners who also mine BTC and/or BSV. Signaling today for BCHN might be a bluff for some of them. On November 15 the cards will be on the table, and we will finally know.
To complicate things further, a large miner. or several of them, could make BCHN go above 50% of the hashrate, and then later below 50%, forcing a reorg of the BCHN chain onto the ABC chain, and make money with it.
There's no replay protection between the 2 chains, so sending coins on one chain will very likely replay the same transaction on the other chain.
[link] [comments]
source https://www.reddit.com/r/btc/comments/jk5kte/the_possible_scenarios_on_november_15/
Quick Price Update:
BCash having trouble cracking $275. We’ll see if it holds $268. If not, it’s down to $200, then $0.00.
21,868 BCH transactions in the past 24 hours. Not trolling. Let’s talk.
[link] [comments]
source https://www.reddit.com/r/btc/comments/jk53hh/quick_price_update/
We are so lucky to buy bitcoin at current prices, no matter $10k, $13k and so on.
In the future, we are only able to acquire some sats through goods and services, or at a much much higher fiat prices that less can afford. Few understands this.
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21 Million - We all know the number’s significance... just for a fun game I sent 21,000 bits to that number, the 21,000,000th wallet on the blockchain... if you can get, you got it ;)
I just ask you replay back with an explanation of how you gained access... the math involved... it’s really not that hard I know, but I had fun with it ;)
And FYI I used 128 bits of entropy, the standard 12 words seed phrase. Oh yeah and this is on BitcoinCash of course 😁
Good luck! (let’s see how long this takes haha)
For those that don’t know, a Bitcoin wallet is really just a random number chosen from a REALLY LARGE set of numbers, “256 bit”, 2256 power, a number set so large it’s practically impossible to guess it, and it would take more time that the universe provides to even try.
But once you know this number, you can create your whole wallet; private key, public key, and unlimited addresses...
So that’s the game ;)
[link] [comments]
source https://www.reddit.com/r/btc/comments/jk2jhi/21_million_we_all_know_the_numbers_significance/
How I lost all my BTC savings being greedy with futures trading.
I hope this post will be a big lesson for those who are in the same situation as i was, as well as I am seeking for any advice that could help me through this tough times.
So back in 2014 I first learned about Bitcoin and I loved the idea of cryptocurrency so much, that in 3-4 years from learning about it when I became 18, I started investing and trading.
As time went by I was investing small amounts, trading, and apparently slowly losing my money, but at that time it was ok because that were small amounts which I could afford to lose. In 2019 i moved from a poor country in Europe, for a better life to London. I was working in London and by the end of 2019 I got almost 3k£ in Btc, that were my savings.
But then the worse started to happen, I loved trading, have read many books, got through tutorials, and was slowly trading my way up, and then I discovered the futures with up too 100x.
At first I used low leverages, up to 10, then being greedy and not taking profits I always ended with losses, it started by losing small amounts, I was thinking let me put some more money in so I could trade what I lost back, I was getting emotional losing more and more, increasing leverages up to 75 rarely even 100. I was very upset with myself, at one moment when I already lost 500 I said no stop, but one-two weeks passed and I again was depositing to trade, and this snowball was getting bigger as I was losing even more hoping I will get everything back and hodl.
And right know I got a big life lesson, don’t trade unless you can afford to lose that money, and never let your emotions in trading, I lost all my savings totalling about 5000£, I go almost a 1000£ debt. Because I even used a credit card to load it up. I hate myself, because I could just hodl. And know not having a proper job due to COVID, I have to survive somehow. This is how you learn a lesson the hard way, don’t repeat my mistakes, just hodl and you will be fine.
Knowing that this community is huge, I would like to ask for some advice or tips, how should I deal with this in the future, how to forget this loss and move on(these 5000 were huge money for me). I m right now totally devastated, depressed and in kind of a dead end.
I am teaching myself programming, and already pretty good at some languages, my little dream is to become a developer, or to open a successful business, but being In thus situation, it’s hard to find a job in it sphere, without having a degree or experience, so I would appreciate any help and advice to go the right path. There are definitely people here that make good money and have been through tough situations, I want to know what’s your mindset and what was your journey.
And the fact that Bitcoin is in the start of a potentional huge bull run just kills me missing the opportunity. I encouraged everybody from my surrounding to crypto.
And to cope with the loses even didn’t help any tournaments, puzzles, airdrops and etc. The worst feeling to miss a one in a life opportunity by being such dumb and emotional.
Thank you for reading to the end! HODL and be smart.
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Use Lightning.
If you're planning on using bitcoin more than once a week, just send some sats that you plan on using over to a lightning wallet, to many people using the main chain for $10 transactions...
I recommend "Breez" for iOS and "Phoenix" for android, a lot of services accept lightning also
[link] [comments]
First blocks signalling for ABC
Blocks 659119 and 659163 so far, already paying 8% of their block reward to the required address. Since the IFP has not activated yet, these payments are genuine donations.
[link] [comments]
source https://www.reddit.com/r/btc/comments/jk0zfd/first_blocks_signalling_for_abc/
Does anyone consider themselves knowledgable on bitcoin and willing to be interviewed on a podcast?
I'm starting a podcast and one of the episodes I want to do is on bitcoin. It's an amateur setup so I'm looking to find someone who can talk confidently and passionately about bitcoin.
It's an amateur setup, so no money I'm afraid, looking for someone who like me, just wants to advance the cause of bitcoin by presenting it in an easy to understand format.
PM if interested
[link] [comments]
Wednesday, 28 October 2020
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Crypto is pretty much the only reason I used Reddit anymore, and I'd like to stop using this website. submitted by /u/TheTruthHas...
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