Crypto 360°

Tuesday, 9 February 2021

If Bitcoin doesn't hit $69,420 in 2021, I will eat a carolina reaper January 1st 2022 and post it on here.

Title says it all. I posted this in my main Discord too and it got pinned, I'm locked in boys.

Price today started making my hands shaky. Now I have a new incentive for 💎🙏

Wish me luck!

submitted by /u/Mogli_Puff
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"Id rather have a volatile 200% appreciation a year than a stable 15-20% depreciation a year"

submitted by /u/121310
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Bitcoin Cash & Bitcoin Corp was all planned

As a newcomer to the space It's obvious to me that Bitcoin Legacy was forced to split by the powers that be in order to hijack the Bitcoin brand for themselves to transact soley on their own terms. I have a fair sized percentage of a BTC and can no longer transact with it whether using lightening or on chain. Closing channels eventually deduct a sizeable amount of my bitcoin percentage.

The retail market will eventually be utterly priced out of BTC and thats exactly what they want. When Bitcoin was all inclusive these same supporters shunned it any chance they had and now that all their cronies have the majority of stake in it, they are pushing for the world to adopt it. Knowing that it is impossible for the poor to self custody and transact their portion.

This revelation shows the disgusting nature of the 1%. To hear that snake Michael Saylor preach about buying and holding bitcoin to leverage against loans. Is that what bitcoin was built for? to sit in custody and use it as an asset to pull out a loan? Don't get tempted by Bitcoin Corp to keep feeding their ponzi. They're using it to keep their dying derivative system afloat.

BTCs price will keep rising and onchain fees will also follow suit so that the big institutions, banks and corrupt Governments can all transact with each other. They never wanted to use the same highways as the common man so they bullied them off of a highway that was ironically created by a common man.

When you read this realize that Bitcoin Legacy is Bitcoin as Cash. Bitcoin Cash continues the mission. Not Decred, Monero, Digibyte, Bitcoin ABC, Bitcoin Sv, or litecoin continue this legacy mission of being all inclusive and balanced. Do not be tempted. If it has segwit move away. If it is not transparent at its core move away. If it isn't low fee transactable move away. If it doesn't have the ability of common folk to atleast try to lottery mine in relation to the average balanced technological improvements move away. If it uses a system that you must be online and dependent on wstch towers or others to custody your coins MOVE AWAY. If it has a staking system where the rich get richer without effort (actual innovation and competition) MOVE AWAY.

Nano is also another wolf in sheeps clothing. Do not support pre minted coins whole heartedly there should be no monopoly on the creation of money. Mining allows other countries, specifically developing countries to take part and not be dependent on the money supply of rich nations.

To sum up my rant. All that glitters is not Gold. Those who want to truly change the world for good and are not bent on getting rich I hope this message reaches you. Support Bitcoin Electronic Peer to Peer Cash BCH and let us liberate and bank the unbanked as Satoshi envisioned.

submitted by /u/Big-Hold826
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source https://www.reddit.com/r/btc/comments/lfphce/bitcoin_cash_bitcoin_corp_was_all_planned/

The Pure Cryptocurrency: A 'Brief' Summary

You might have encountered the term 'pure cryptocurrency' in your endeavours around the field. But what are those and how does NANO fare in this aspect?

Crypto was envisioned with and have been (at least in theory) applied for two basic use cases: Store of Value and Means of Exchange.

However, with time and adoption these have expanded, and nowadays most crypto aims for (or to get close to) a collection of other properties: decentralized, secure, low latency and feeless.

Applying even some of these have proven rather difficult for the most well known players currently in the field and remains a significant struggle.

And this is where NANO comes in.

Below, I will try to 'briefly' explain how all these properties work in the coin.

Store of Value

NANO's 133m coins have been already distributed via captchas and there is no mining possible to gain more. This means it's deflationary in nature.

Means of Exchange

Due to its unique tech (a combination of Directed Acyclic Graphs and Block Lattice), it produces transaction times (wallet to wallet) ranging from 0.15s to 1.5s (and even in the middle of a spam attack attempt, 10s). Transaction throughput scales with hardware, currently around 200 Confirmations Per second. So far during stress tests, over 7000 TPS have already been achieved. NANO is the fastest and probably most scalable crypto out there.

Decentralization

There's no incentive to mine, no incentive to stake.

Coin transactions need confirmations, that's how crypto works.

In NANO's case, voting on transactions is done by nodes that anyone can run and anyone can delegate to representatives that do it. Initially, new wallets get assigned semi-random (as in depending on which wallet you use) and anyone can change reps any time.

If the network is disputing a contradictory transaction, it takes 6 (soon 7) different confirmations to approve such a transaction, making it that much harder to go through, compromising the system. This is known as the Nakamoto Coefficient and is the highest in any crypto to date.

Here's the latest distribution of top voter nodes. This also means there are way fewer bigger parties in the network and thus way less chance for manipulating the underlying mechanisms of the NANO system, making it even more secure to use.

Security

There are several types of attacks that a crypto network can face. NANO's network has never been compromised. A quick rundown:

Spam attacks: as mentioned earlier, due to its efficiency, NANO shrugs off spam, even with zero fees (there are mechanisms implemented to make these costly in the latest versions should the system got scaled up with even more adoption). Here's a rundown of an attack/test, you can find many like these out there.

51% attack (taking over the network): This could've been possible in the early days but NANO's market cap is already $0.5B. All coins are already distributed and the process of buying up 51% will drive up the price incessantly.

The difficult part isn't driving the price up for a rich person or entity, it's that if they were doing so for profit they would also want to sell and that is a lot harder to do without pushing the price back down again.

NANO uses Proof of Work (PoW) to avoid spammers as there is no transaction fees on the network. Each block has a small amount of work associated with it, approximately about 5 seconds to generate, and 1 microsecond to validate. This forces a malicious actor to dedicate a significant amount of computing power to carry out an attack, whilst requiring only a small amount of computing power by everyone else. Furthermore, it is also even possible for these spam transactions to be pruned away, limiting the amount of storage that can be consumed from this type of attack.

Add to these that due to representatives and inherent security, a significant portion of the supply is offline in wallets so 51% of the coins needed for this might wouldn't even be available to purchase on centralized exchanges.

Double spend by a malicious user: Both versions of the double spend need to be signed by the users private key. It is easy to identify the accounts that are responsible for spam attacks and then blacklist them for a certain period.

The list does go on, for more details see here: https://docs.nano.org/protocol-design/attack-vectors/

Low latency and feeless

The largest 'selling points' of NANO, we already mentioned these so I wouldn't go into detail any further here than the neat demonstration vid created a year ago (the coin's been improved since then).

Hope this helped shedding some light on some of your questions that might have arose during your time researching the project.

Godspeed!

submitted by /u/MIS-concept
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source https://www.reddit.com/r/btc/comments/lfoxrr/the_pure_cryptocurrency_a_brief_summary/