Winklevoss twins' $20m plan to make Bitcoin mainstream

Bitcoin Gemini Exchange Review 2020

Bitcoin Gemini Exchange Review 2020
If you are planning to place assets into cryptographic types of cash like Bitcoin or Ether, in any case, you do not understand where to start, this Gemini exchange review will help you with choosing.
Gemini Bitcoin Exchange Review 2020
You need yourself to be a productive advanced cash intermediary. By what technique will you become? To help you here's an exchange review, which will give every one of you the low down information required for a powerful enthusiasm for one of the most trusted in stages the Gemini Exchange.
We should find all the more right currently review
Gemini Review :
About Gemini Exchange
Twin kin developed Gemini Winklevoss in the year 2014. The Gemini exchange is arranged in New York. The Gemini crypto exchange is open in essentially all US states, similarly as UK, Canada, Puerto Rico, Singapore, South Korea, and Hong Kong. In 2016, Gemini transformed into the world's recently approved Ether exchange.
It positions 82th greatest exchange on earth as showed by 24-hour volume on Coinmarketcap. While Gemini Bitcoin and Gemini Ethereum trading volumes are high, the exchange is endeavoring with all undertakings to fight with those stages offering a predominant piece of the cryptographic types of cash, for instance, Binance.
Reinforced Currencies
Gemini offers crypto to fiat portions and a BTC/ETH grandstand, which makes it a quick contender to any similarity to Coinbase, Bitstamp, and Kraken. At present, it is one of the most respected and ensure about exchanges open. This is in light of the fact that it has more features to help secure customers against developers. Also, it is one exchange for the CBOE Bitcoin future settlement. Gemini Mobile application is directly available, which is amazingly basic and versatile to use.
How to use Gemini?

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1) Go to the official site and snap the "Register" tab on the upper right corner.
Enter your name, email address, and mystery word for your own record. While affirming your email address, it is critical to :
Affirm your email address and enter both your region and phone number, by then you can set up 2-Factor Authentication (2FA) which will be an additional layer of security to your record.
Incorporate your monetary equalization. Starting at now, Gemini recognizes simply bank moves and wires, as a methodology for putting away holds.
To check your record, move your organization ID proof. This will help you with executing and trade US Dollars. Moreover, it will help Gemini with as per the Bank Secrecy Act (BSA) and Anti Money Laundering (AML) rules. The affirmation time may run from a couple to a couple of days.
Subsequent to completing of all the above strategies, you can use your record for financing.
gemini crypto exchange
2) Deposit Currency
In the Menu, click Transfer Funds, by then find a good pace Bank Transfer and Exchange. Enter the whole you have to store here. Moreover, note $500 consistently is the most extraordinary most extreme for Bank moves.
3) Trading Bitcoin and Ethereum
As you store by methods for bank move, they are quickly available for trading. you can purchase by encountering the menu and picking your supported trading pair. For example, for Bitcoin BTC/USD similarly as Ethereum ETH/USD.
In the wake of embeddings the expense and sum it will process your buy demand. There is another choice to trade by methods for the business community which has exhibit orders gave by various customers.
After the fulfillment of your purchase, your record will be acknowledged with your Ethereum just as Bitcoin purchases. You can sell your computerized cash on the Gemini crypto exchange. Regardless of the way that you can't make a withdrawal until your bank move has been completely arranged.
gemini sponsor organization
4)Trading Limits
By and by, For most trade strategies, there are no limitations on trades. In any case, Automated Clearing House (ACH) moves have the greatest store most remote purpose of $500 day and $15,000 consistently for singular record holders. Associations have a state of restriction for making ACH stores of $10,000 consistently or $300,000 consistently.
Gemini Marketplace
There is a Gemini business focus that runs 24*7. Here, you can have indistinguishable number of solicitations from you wish to have, with a variety of trading choices. These include:
Market Orders – With the present best open worth, the solicitations here starting dealing with quickly against resting orders.
Purpose of repression Orders – The sum is filled at or better than a given expense. The sum which isn't dispatched lays on the solicitation book diligently until it is filled or dropped.
Brief or Cancel (IOC) Limit Orders – The sum is filled at or better than a given expense. The sum which isn't filled rapidly is dropped and doesn't lay on the perpetual solicitation book.
Maker or Cancel (MOC) Limit Orders – The sum lays on the solicitation book continually at a foreordained expense. Furthermore, the entire solicitation is dropped if there is any sum that can be filled immediately.
All solicitations made on this stage are totally sponsored and fill in as a full hold exchange. In any case, there is no edge trading Gemini. Despite that, reliably the customer's record equality should have more balance than the exceptional excitement on demand books. Also, all open solicitations decline your available leveling until they are fulfilled or dropped
Gemini Fees
In the event that there ought to be an event of moves, Gemini crypto exchange has a low cost technique and stage customers can store Bitcoin, Ether, at freed from charges for both bank and wire moves. In any case, banks will charge a cost for the customers to wire money to their Gemini account. Withdrawals on the stage are free and all customers will have 30 free withdrawals for each calendar month.
Any withdrawals more than this total will pull in costs comparable to the mining charges payable on either sort out. The costs are around 0.001 BTC or 100,000 Satoshi per trade on the Bitcoin Network and 0 GWei or 0 ETH per trade on the Ethereum Network.
MakeTaker charges
0.25% is the trading costs for both sellers(makers) and buyers(takers). If it shows up at certain trade volumes, charges will be reduced. The maker charge is 0% for 30-day trading volumes that outperform 5,000 Bitcoin or 100,000 Ether. For a comparable trading entirety, the taker run after will bubble to 0.10%.
Gemini uses dynamic maker and taker charge or reimbursement timetable, and sellers can get reimbursement on liquidity-creation trades. The particular entireties depend upon net trading volumes and the buy and sell extent over a multi day time allotment. The data are adjusted as expected and more information on charges can be found here.

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charges
Concerning purchases, the base purchase whole for Bitcoin is 0.00001 BTC, or 1000 satoshis, for Ether, the base sum is 0 .001 ETH
Security-at-Gemini
Bitcoin Gemini Reviews, is a strong exchange that has a better than average reputation in everyone. The exchange goes about as a way into the universe of cryptographic cash trading. This may be in light of the fact that various customers first quit concerning purchasing Bitcoin and Ethereum. In comprehension to Coinbase, Gemini has a near space. Wherein it allows its customers to make trade clearly to and from their records.
Gemini is a not too bad choice, for people looking to securely trade either Bitcoin or Ethereum. The exchange is a potential decision for new competitors to the market similarly as logically settled sellers who like to make trades by methods for their monetary adjusts.
Latest News
Dec 17, 2019: Well realized cash related pro association State Street picked Gemini exchange for the new propelled asset pilot adventure.
Nov 19, 2019: Gemini exchange wanders into NFT's and acquired Nifty Gateway Solution, a phase to buy Non-Fungible Tokens.
Nov 14, 2019: The exchange added Stop-Limit to the solicitations being executed on the stage.
Sep 11, 2019: Gemini dispatches Gemini Custody with 18 cryptographic types of cash
Sep 5, 2019: Gemini Clearing™, a totally electronic clearing and settlement answer for off-exchange exhibited by the stage
Aud 27, 2019: Gemini Joins the Silvergate Exchange Network
Aug 22, 2019: Gemini loosens up and reaches to Australia
April 15, 2019: Gemini wallet support Segwit
Gemini Bitcoin Exchange Review
Rundown: How to Buy Bitcoins by means of Gemini
Register a record at Gemini and check email code sent to you.
Set up two-factor validation (2FA).
Give checked ID as a major aspect of the confirmation procedure.
Include ledger.
Store cash by clicking "Move Funds", "Store into Exchange" and afterward picking the sort of bank move.
Snap "Purchase" catch and round out the buy structure to get BTC.
Is Gemini Safe?
Gemini is extremely worried about its clients' wellbeing, in this manner it utilize three arrangements of security...
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Gemini Comparison with Other Exchanget
To exchange bitcoins you have to initially peruse and think about various BTC trades...
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In Which Countries Is Gemini Available?
You can arrange bitcoins through Gemini nearly in any nation, yet discover where you can't...
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Guide: Buying BTCs at Gemini
It is anything but difficult to purchase bitcoins on Gemini trade, knowing the essential standards and prerequisites...
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FAQ
Discover to what extent the exchange takes, how to pull back BTCs and what strategies for...
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Practically equivalent to Bitcoin Exchanges
We have arranged a rundown of trades, notwithstanding Gemini, that can assist you with requesting bitcoins...
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With developing worth and system, bitcoin is ready to turn into the main online resource in the realm of ventures.
Gemini bitcoin trade survey
This article is worried about one of the most well known trades with regards to BTC exchange, Gemini.
What Is Gemini?
Gemini is one of the realized digital money trades that offer an assortment of exchange apparatuses for speculators that have some involvement with the business. The organization that claims the stage is enrolled as LLC in New York State, USA, offering USD to BTC and USD to ETH exchange trade.
Purchase BTC at Gemini
Propelled in 2015, Gemini offers two unmistakable commercial centers, them being:
customary trade administrations;
bitcoin barters.
Upon its appearance, the stage offered its administrations in the US just, bit by bit including different nations all the while. The organization is possessed by the Winklevoss twins, who guarantee that they are have about 1% of the complete BTC volume.
Winklevoss siblings are Gemini's proprietors
Gemini Security
With regards to the wellbeing of your assets, Gemini applies three arrangements of safety efforts that should be referenced. To start with, the stage applies advanced money safety efforts by offering hot and cold stockpiling wallets, where cold wallets have multisig capacities to forestall hacking endeavors at your equalizations.
Gemini security
The subsequent measure is identified with the exchange where the entirety of the exchanges at Gemini are led through pre-financed accounts, implying that merchants and purchasers can't post orders on the off chance that they don't have adequate BTC or fiat monetary forms in their parities. Finally, the site security comprises of two-factor verification (2FA) and HTTP encryption of all data in regards to merchants and stage's exchanges from outsiders.
Accessible Payment Methods
As of now, Gemini acknowledges stores communicated distinctly in ACH (for US dealers) and wire moves (for every other person) communicated in USD. Credit or check cards, money stores, PayPal and numerous different alternatives are wanted to be remembered for the future however are not accessible at the present time.
Buy bitcoin by means of wire move
You ought to buy in to the Gemini news source since the organization will promote the new store strategy through that channel of correspondence.
Shouldn't something be said about Fees?
While saving or pulling back your assets communicated in fiat or computerized monetary forms, dealers would find that the administrations are done totally free. Then again, Gemini charges exchange expenses are charged dependent on a month to month net exchange volume. Taker charges can extend from 0.15% to 0.25% while creator expenses from 0% to 0.25%.
Expenses at the trade
Does Gemini Have Limits?
Cryptographic money and wire stores and withdrawals don't have any constraints forced on dealers, implying that in the event that you utilize the said administrations, you can buy, sell and pull back bitcoins with no deterrents. Singular American financial specialists utilizing ACH move, then again, have $500 every day and $15.000 month to month while institutional individuals have $10.000 day by day and $300.000 month to month store limits.
No restrictions for purchasing bitcoin
Gemini Comparison
When thinking about exchanging at any trade, you should hope to analyze the administrations, expenses and impediments with other comparative stages. In this manner, we have assembled an examination investigation where we benchmarked Gemini against two other well known decisions with regards to BTC buy: Kraken and Coinbase.
Gemini versus Kraken
Kraken, much the same as Gemini, acknowledges bank moves just, with the significant contrast being that Kraken permits 5 fiat cash stores. Notwithstanding bitcoin, there are 14 more altcoins that you can exchange with at Kraken while the two trades force check on their customers as they are both controlled organizations.
Gemini versus Kraken
Kraken is fundamentally the same as Gemini as far as expenses, as creatotaker charges go somewhere in the range of 0% and 0.26%. Bank moves do accompany little expenses at Kraken while Gemini acknowledges stores for nothing. In conclusion, while Gemini exchanges two or three nations in particular, Kraken is all around accessible.
Coinbase versus Gemini
Coinbase is viewed as one of the biggest bitcoin suppliers on the planet, offering its administrations in 32 nations, USA notwithstanding. The installment strategies at Coinbase are PayPal, bank moves and credit/check cards, two more than Gemini.
Request bitcoins by means of Coinbase trade
Confirmation is an absolute necessity have at Coinbase, much like in Gemini while expenses are a ton lower at Gemini, as you pay between 1.49% to 3.49% from exchange's an incentive at Coinbase. The two trades offer BTC vaults and wallet administrations while Coinbase additionally exchanges with Litecoin which are inaccessible at Gemini.
Gemini BTC Exchange in Different Countries
Gemini's administrations are accessible in a bunch of nations around the globe, them being the US (5 states not upheld), Canada, Japan, South Korea, Hong Kong, Singapore and the United Kingdom. The five US expresses that are not bolstered are Alaska, Arizona, Hawaii, Oregon and Wisconsin.
Gemini trade in various nations
Is It Legal?
Gemini is an American LLC that adheres to New York Banking Law guidelines, actualizing BSA (Bank Secrecy Act) and AML (Anti-Money Laundry Compliance Program) arrangements, implying that customary reviews of the BSA/AML programs are being executed. Moreover, the firm requires all merchants to have reserves pre-saved before the exchange.
Bitcoin Gemini Price, is legitimate
Another significant factor of the stage's lawfulness is the way that since its beginning, Gemini has promptly accessible money related report dating 7 years back.
Does Gemini Support Its Customers?
Concerning the client service, Gemini has a thorough FAQ page where a large portion of the exchanging questions have been replied. Notwithstanding the FAQ, you can likewise top off a shape and present a solicitation to the Gemini group with respect to any issue that you may look on the stage.
Gemini client service
Because of the regular upkeep of the site's administrations, Gemini has a "Status" page where financial specialists can see which administrations and API instruments are working right now and which are definitely not.
Manual for Buy Bitcoins from Gemini
When you have gotten the cash at your Gemini account, click "Purchase" button on the dashboard page.
Buy page for bitcoins at Gemini
Presently, round out the structure on the right, giving request type, volume or estimation of BTC you wish to get and click "Purchase" to get bitcoins in your record immediately. Try to check the BTC cost at the upper left piece of the "Purchase" page to ensure it has not changed at the time you have begun the buy procedure.
Enrollment
It is totally allowed to enroll a record at Gemini bitcoin trade and the procedure begins once you click "Register" button at the upper right corner of the site. Give your complete name, email address and secret key in subsequent stage and snap "Make My Account".
Make account at Gemini
You will get an email code which you should duplicate glue into the Gemini's check page.
Contribution of enactment code on Bitcoin Gemini Registration
The accompanying advances will open up for you to finish, in this way you have to arrangement your 2FA security apparatus, include a financial balance and give checked ID to finish the enrollment methodology.
To what extent Should I Wait for Verification?
Check stage can take between an hour and a day, contingent upon various enlistment applications Gemini has right now you have begun the procedure. You ought to set up every single essential report before you start and arm yourself with persistence as a stage would set aside effort to process your data.
Confirmation process at Gemini
Would you be able to Get Bitcoins Without Verification?
At the enlistment page, you are required to check your personality and frog your financial balance. When you have presented the records, you can't enter the stage's exchange page until the help affirms your subtleties. In this way, it is unimaginable to expect to buy supply of bitcoins without confirmation.
Obligatory confirmation before purchasing BTCs at Gemini
How to Add Money to Account?
When you have finished the enrollment and confirmation of your record, click button "Move Funds", situated in the top segment of your dashboard page. In following stage, click "Store Into Exchange" and pick either USD or Wire alternative, contingent upon what financial balance you have included at enrollment stage.
Add assets to Gemini account
You can likewise store bitcoins in your Gemini wallet too.
Store BTCs in the Gemini wallet
At the last phase of wire move subsidizing process, you have to give bank's wiring data, for example, your record number and other significant data that can be found by clicking "Bank Settings".
Give bank's wiring data
When data has been given, basically click "Store" button which will show up at the base of the page.
Secure Your Account
Keep the entirety of your record and wallet passwords out of the programmer's compass by continually evolving them. Monitor the new secret key by keeping in touch with them down on a bit of paper as to not overlook them meanwhile.
Record with 2FA on trade
You as of now have 2FA from the enlistment stage and don't give your private data to some other dealer on the stage.
FAQ
To what extent Does It Take to Make Transaction?
It takes 4 to 5 days to store assets in your Gemini account while exchanges themselves are done following you the exchange started. Diverse request types have distinctive length, contingent upon what dealer wishes to accomplish.
Sitting tight for exchanges on the trade
Would i be able to Buy Bitcoin with PayPal at Gemini?
Now, brokers can't utilize PayPal as store technique at Gemini. You ought to buy in to the trade's news channel as to get warnings if the strategy opens up to store alternative later on.
Does Gemini Have a BTC Wallet?
The stage offers two kinds of wallet administrations, one being "hot" wallet and another being vault stockpiling. Both are based just, with the principle contrast being that vault stockpiling gives extra security keys that are utilized while moving bitcoins all through the wallet. Along these lines, vault administrations are esteemed as more secure than the standard BTC wallet.
Gemini wallet
Pulling back Your Bitcoins from Gemini
At the dashboard page, click "Move Funds" and afterward "Pull back From Exchange" to begin the procedure. Pick bitcoins to continue towards the withdrawal structure. Determine the measure of BTC you with to escape the trade and give your wallet address. Snap "Survey Withdrawal" and check the data. When you are fulfilled, click "Affirm" to end the procedure. Your coins will show up inside 24 hours to your ideal area.
Pull back BTC from Gemini
Instructions to Order BTC with Credit/Debit Card at Gemini
As with PayPal, it is preposterous to expect to buy bitcoins with the assistance of credit or charge cards at Gemini, since the choice isn't accessible right now. Stay aware of trade's news and declarations as the CC/DC choice may open up later on.
Gemini Mobile App
Portable stages are yet to be created by Gemini, implying that exchange is accessible on perusing stage as it were. Watch out for the declaration, as the organization may make the push towards telephone exchange not so distant future.
Purchase BTC just on Gemini perusing stage
Gemini Analogs
Aside from Gemini, we at BitcoinBestBuy have checked on numerous different stages that can assist you with getting bitcoins effectively and securely. They all change regarding local accessibility, expenses, buy strategies and confirmation necessities, so make a point to check different articles also.
Get BTC at digital money stages
Coinbase Exchange Review
Being one of the biggest BTC exchanging stages the world, we made a survey of their charges, store choices and other important data with respect to the trade. We have likewise given bit by bit controls on the best way to buy and pull back assets and coins from Coinbase.
Coinbase survey
Full Review Coinbase Bitcoin Gemini Exchange
Find out About Kraken
Kraken is another trade that offers bitcoins through bank moves and its administrations are all inclusive accessible. We made a survey of Kraken's advantages and disadvantages, giving our customers a diagram of the trade as far as expenses the organization charges, check prerequisites and buy procedures of the stage.
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Hello, friends - Im in need of a fellship

Hello, friends. I would like to tell you a story to beat all stories. There once was a hobbit, who lived in a hole… and this is a retelling of a very old story, or allegory, as I hope you will contact us afterwards, of how he got out of the cave he made for himself.
The Plan
We are going to monopolize a series of decentralized crypto currency networks, more specifically utility token networks, that currently exist in a state of simultaneously being over valued, and under valued, at the same time. This result was not expected at the outset of the creation of the projects that we are going to explore, but I assure you, this is the case. It is very possible that we’re looking at the cutting edge of computer science – potentially, we are looking at a rip in the space-time continuum – but what is most definite is that we’re looking at an arbitrage opportunity of historic significance. It is also potentially going to be the largest robbery perpetrated against the most deserving victims, resulting in the most benefit for the most people since Robin Hood took Prince John’s last shilling.
What Im going to describe is a little bit classical investing, a little bit of The Matrix, and a little bit Oceans 11. Its also going to be a little bit Darwinist, a little bit Wolf of Wall Street, and very self-serving all the way to the end of it, where it becomes the most beautiful gift humanity ever gave to itself. But the good part, at the very end, only happens if we can trust each other to break an unbreakable trustless system. And after we’re done doing that, we’re going to have to do something that is even more unheard of in the study of history, and a thing commonly only found in fantasy. What we’re going to try to create is the most similar to 9/11, in the sense that it is the opposite of it. Our data has found, through the study of human history, that a small group of people sufficiently funded with a relatively small sum of money are capable of taking that money, and turning it into a catalyst that results in a historic event that shapes the future for many years to come. The common term for this is a catastrophe, or cataclysmic event.
But the thesis of this computer science experiment that we’re already undertaking, but seek the support of in reaching out to you, is that we can create the opposite of a catastrophe. The term for this was coined first by JRR Tolkien – he referred to this even as a “eucatastrophe” or a “a sudden and favorable resolution of events in a story” but perhaps is most commonly known to the public as “a happy ending” – he describes this event in the The Lord of the Rings, when Frodo drops the ring into Mount Doom.
I believe it is possible to dream a happy ending into existence using computer logic and the greed of speculation about the future, rather than the real world investing in it that our market system was supposed to provide - but this is how the story begins.
Orientation
The first crypto currency, Bitcoin, is only 8 years old, and at the end of this document, you will likely understand more about crypto currency than the people who created the first one. This is possible because it is an entire sector that has been more pushed forward by dreamers and curious minds than it has been developed by venture capital interests.
Groups that demand immediate and consistent profitable returns, and measure those returns against the results of other ventures that have been agreed on to be the benchmark of success would suggest that double digit annual returns are unsustainable but its best to enjoy them while it lasts. But, we have found, using crypto currencies, that the returns traditional investing earn in a year can be gained in a day, when occupying enough market share of a market. We do this using automation to interact with the world markets in a specific way that provides liquidity and stability in markets that are traditionally the most volatile in the world. As the price moves, we tax that movement, and extract value for ourselves by way of profits from trading, and create value for the broader ecosystem in the form of price support, thus preventing the market from bottoming out (or at least falling slower because of our participation), as well as creating price stability during market highs, allowing people with non-automated trading systems to capitalize on longer periods of positive growth without missing the chance to sell while the market is up.
While our automation has sufficient funds to provide liquidity in these exchanges, we are day over day getting between 100 and 300 bps/day in earnings. To continue providing liquidity to these markets when our own reserves of coins are low, we are using a decentralized smart contract that provides credit in exchange for collateral and interest on the resources lent. By using this method, we are able to keep liquidity in these markets, and our trading system maximally effective, regardless of price movement or our own holdings of coins, and the interest on renting the coins to do it is almost negligible.
Furthermore, these markets are “utility tokens” exchanges. That is to say, these tokens only represent resources a computer network should allocate to a user based on the size of his coin holdings. There are no traditional metrics to evaluate these coins and their value, as the market price of them is simply the intersection of supply and demand on a moment to moment basis as determined by a decentralized network of users who have or want them. In short, they will never be so cheap that the price of the desk the computers sit on is greater than the price of owning a stake in that desk, because they do not represent ownership of that desk at all. Likewise, when the price is astronomically high, it can never be deemed too high, because the network it represents resource allocation of does not now, nor ever will be profitable or unprofitable. It simply will continue to be there, and allow you to interact with it, based on if you have coins for that network and how many. It is more important to understand that these coins are NOT SECURITIES than it is to understand what those coins are at all.
Going forward, a great deal of this plan and discussion will be metaphor and perhaps come across as hyperbole. The reason for this is because the systems that we are talking about are simply shuffling zeroes and ones to each other, and if I gave you the math for what is going to happen expressed in those terms, there are few or no minds on the planet that could follow the thread of this discussion in those terms at all in the context of how much data the network has if you tried to aggregate it.
The very people who create and code these networks do not even interact with them on these terms of zeroes and ones, but rather in a coding language. In this sense, even the people coding these systems are only using metaphor by interacting using the programming languages that they do. And so, in order to make this slightly less boring, and more readable, I hope you will forgive the use of language that is more descriptive than it is literal, but what is most important to remember along the way is that nothing about what is being described is a crime as the Security Exchange Commission would see it, because none of these things are securities at all.
What is the Bitcoin Network?
The first bitcoin was created 8 years ago as a result of a cryptographic computer science experiment in which a group of people who referred to themselves as “the cryptopunks” sought to create a decentralized and censorship resistant network that could keep a ledger of the location of all the bitcoins and their ownership in real time without the need for any 3rd party involvement or consent.
The entity attributed with the creation of Bitcoin, and the blockchain technology is known only as “Satoshi Nakamoto” which is commonly agreed to be a pseudonym for a person or group of persons. No one has heard from “Satoshi Nakamoto” since “he” disappeared after a colleague on the Bitcoin team sent him an email saying that the CIA had reached out to him, and wanted to talk about their research.
The security of the blockchain is provided through “proof of work” in which a network of computers around the planet attempt to use brute for number crunching to find the sum of the interior angles of a triangle in non-Euclidean geometry based on 3 points on a sphere. The interior angle of that triangle are unpredictable, because unlike in traditional geometry where the sum of the angles is always 180 degrees, when 3 points on a triangle are placed on a sphere the range can fall anywhere above 180 degrees, but not equal to it, and as high as or equal to 540 degrees. To perhaps exemplify how a triangle can have 540 degrees, consider that if you and 2 friends formed a straight line on earth, that the interior angle between each of you is 180 degrees, and there are 3 of you, and the definition of a triangle is 3 points on any given plane, thus the angle of the triangle you formed when standing in a line is 540 degrees, and cannot be any greater. The interior angle of the previous block in the chain is the determining factor in the placement of the next 3 points to be solved for in the following. The first machine to solve the question of “How many degrees are inside this triangle?” by guessing is given the privilege of taking the highest bidders for his time from the market, and performing the protocols desired by way of recording changes to the block chain, while other participants in the system are prevented from recording in this way. As the next block cannot be solved without knowing the solution to the present one, the system is trustless and immutable – it cannot be tampered with, and is governed only by math, with no gate keepers.
What is the Ethereum Network?
The Ethereum Network, or Ethereum Virtual Machine, is a set of computer protocols with a heavy emphasis on determinism as the backbone it was built on. These protocols determine the outcome of an interaction with the blockchain, and the creation of an ever-evolving record of the location and allocation of the resources these systems are built to account for.
Ethereum also has the ability for users to interact and create decentralized “smart contracts” which serve to govern the ownership and allocation of coins as agreed upon by two parties based upon outcomes that don’t require a 3rd party to execute. Metaphorically, you can think of this as an ATM, where no bank teller interacts with you, but rather a user only interacts with a machine that allows you to deposit money in your savings account, and borrow on a credit card with a limit proportional to your savings account. You could also think of it as a dooms-day device, that is going to act the way its going to act with no way to stop it once events are put in motion.
Other users of the smart contract can see how you have interacted with it because the blockchain is public and visible to the world, and if they would like, can accept the terms of that agreement, and at no time can anyone other than each of the individual users control what the users are doing. In short, there are no gatekeepers in Ethereum. There is only what exists in the network by way of code, and the infinite room to put it there if you would like to and are willing to pay for the electricity needed to carve it into existence and be maintained for the rest of time, but this is a one time payment which costs less than your credit card skims from starbucks when you buy a coffee.
What is staking?
Staking is an idea seeking to resolve the problem of energy waste that is seen in proof of work. The problem with proof of work is that it takes a tremendous amount of energy to run the level of computation that crypto networks currently use, and all but 1 of those computations actually resulted in change at all. To solve this problem, a staking system could be put in place in which rather than randomly guessing as we have been, a user would put up collateral in order to act as verification entity, where the trust of that individual’s word was determined by how large of a stake that individual might have. Anyone who felt that the outcome of an event in the blockchain was being mis-reported could put a larger stake up or proportion thereof, and which ever outcome is the most heavily staked by the user base would be deemed the “true” outcome, because there is seemingly no value is attempting to stake a “lie” or “untruth” if a greater consensus could be made, as the economic incentive is to side with the truth than the lie.
What is Augur? What is REP?
Augur is a decentralized prediction market platform. The limits for what kind of market can be made is infinite, and censorship proof, as a result of being hosted on the Ethereum Network. Users stake their REP, short for Reputation, in order to report the resolution of market outcomes. Because Ethereum has no way of drawing information from the outside world without the outside world participating with it intentionally, this hurdle is overcome by allowing users to report themselves. In exchange for doing this reporting work, people who hold REP are given a small amount of the volume of those markets (as set by the market creators) and these dividends are paid in Ether (ETH).
So an example of what kind of market could be found within Augur is “Who will win the game this weekend between the Eagles and Packers?” or “Who is going to win the next election?” or “Will the rainfall this year in Chicago exceed 22 inches?” or even “When will mankind cure death?”. There is no approval process in creating a market, only a loose form users must stick to, and the resource requirements to maintain that market on the blockchain – again, infinitely, for the rest of time if desired, in exchange for a one time payment in the present to cover the cost of electricity to manifest your will or curiosity on the network.
In the time between the creation and resolution of these markets, users can see the likelihood of the outcome of any given result represented by the confidence in that result numerically using Ether and the volume staking one outcome or another. This type of prediction oracle is called “The wisdom of the crowd” which says that it is more accurate to ask the crowd than any one person for their opinion of that outcome, as no one person has all the information on the system in question.
Computer Science and the Space-Time Continuum
We live in an uncertain time. In the very real world we live in people in our country are arming themselves against their neighbors. Gun sales at record highs. Racial tension. What would happen if my band of pirates staked 1,000,000 ETH in a prediction market paying 100,000:1 that we will all love each other and not have a race war. Do you think people who could see that uncensorable prediction market would feel more at ease, and perhaps not buy a gun, or fear their neighbor less? Do you think if we were correct about that prediction market that we would have gotten lucky, or would we have believed our own prediction into existence and created a situation where we are not only staking the future, but creating it by using greed as the fuel? If a person thought in spite of my band of misfits prediction market that there still would be a race war this year, do you think that they would spend 1,000 dollars on an AR-15 to feel safer, or stake the opposite position with those funds in that market against my declaration of peace, and rather have the keys to a wallet that can be accessed anywhere in the world with 100,000,000 dollars to buy their safety if they are ever living in a world where a gun might help?
Considering that my band of misfits doesnt need the money, nearly so much as we need a better safer world, and will have created an incentive for you to feel safer, and not buy a gun either way - do you think the future that comes to be was lucky prediction? Or market manipulation?
Would you rather have us manipulate that market? Or not?
What do you think would happen in the tech industry if we took the position that the singularity was going to happen in 2029 or not going to happen in 2028, and we staked 1 billion dollars on it happening accordingly. We would have created an incentive in a futures market for someone to take the opposite side of our action, and try to do it faster. If the singularity happened in 2028 because we took so much stupid beanie baby money and proclaimed that it was going to happen in 2029 - what just happened there? Did the winner of that bet in our futures market get lucky? Or did we just create a mechanism for greed to accelerate the end of human mortality because we said it would happen with money by staking the position that it wouldnt? What do you think would happen if we staked the temperature of the earth with that money that nearly destroyed it? What would happen if we staked the race to mars, or the moon? What if your opportunity was that no one had gone to the moon yet this year, and we had created a way to profit by just going to check that its still there? We would have created a global decentralized market for the challenges that we face as a species, and opportunity to optimize ourselves without needing permission to be the best versions we can be. All of these markets can be crowd funded into eternity for visa’s cut of your cup of coffee, and would grow infinitely from the failure of the previous moment in time until our disappointment and greed merge to collapse the infinite possibility of time and space, thus dreaming a better world into existence using man kind’s propensity for greed, and proven track record of being disappointing.
We believe that this will potentially cause dramatic harm to the crypto economy, and broader economy as we know if for a short time. We believe our system is capable of growing the coins in our custody at a rate well above 1.5% per day, because we are currently growing at 3% per day. The power of exponential growth is significant. Likely, more than you can imagine. Consider than 1 dollar today will be 38 next year at 1% growth per day. It will be over 50 at 1.1%, and at 3% growth per day, 1 dollar becomes almost 50,000 in a year. This is the data that assures me that I don’t really need your help, only would like it. Based on the coins in our custody now, and our present rate of growth and innovation, our projections put us at owning the bulk of coins in circulation in the next 19 years. But – if we were to push that timeline even a little bit, by increasing that pile of coins in the present, we accelerate the timeline exponentially. And if we increase the resources in our control by quite a bit… we believe that we will accomplish our goal in the next 2 years.
The Goal
When our Computer Science Appreciation Club has accumulated enough of the coins in the network, and wrung every bit of value that exists only as a result of greed and speculation by those who have no desire to ever use these networks, we are going to do another magic trick.
In addition to accelerating human accomplishment with the power of hope, dreams, and greed. We’re going to take all or some of the coins in our control, and we’re going to collateralize them in a money market very much like the one we are currently using to impose our will on the cryptocurrency ecosystem. We are going to issue a new coin, backed by all the coins we had accumulated previously to create a stable, immutable, uncontrollable, uncensorable, globally available currency. Then, we’re going to send the keys of an individual wallet address to every man woman and child on the planet with some of that coin in it. And we are going to put some more of that coin in it every day. So that at no point, will there be a day where someone can say they did not have two nickels to rub together. We believe no one will ever say they didn’t have two hundred dollar bills together, when we are successful, ever again.
But this is not a selfless act by my merry band of misfits and pirates. Quite the contrary. We believe that nearly everyone on the planet that we interact with is disappointing. That the chimpanzee meat computer of our present hardware is ill suited to optimizing for the future in the present paradigm. We are giving away this money at that point, so that everyone can stop being such a disappointment to us. We are tired of the experience where an hourly employee gives us bad customer service because they are not paid enough to put up with our bullshit. We hope to make a world where people interact with each other because they want to, not because they have to. We are going to be filthy rich, when we are successful, or for that matter if we fail, my band of misfits. And we are worried when that happens about how long before it is that men with guns come for what is ours. We don’t know if these men with guns will come from the governments of the world, or from those envying what we have.
We seek to become the golden goose of the planet, and in return we would like to not fear slaughter while we try this. In this arrangement, we look only for your cooperation, and in return, will share an infinite sum of golden eggs with you, and everyone you know. And when we do this, we will not fear the envy of our neighbors, nor the governments who command the armies it would take to stop us. We will protect the people from their governments, and themselves. And in time, we hope the governments will likewise protect us from their people, though letting go of power will no doubt be hard to swallow. The only thing that can stop us from doing this is if someone buys the coins that give us power from us. And in doing so, would give us the wealth we need to accomplish these things in the real world. If we are not bought out, we will accumulate enough coins in the Ethereum Network that we can impose our will upon it, until we can deliver on our promises of a better world because we control it completely.
In these sense, we have already won. A better world is already here, as certainly as we have already dreamed the path to it. We plan on out-staking a better world into existence, regardless of what the future currently holds in store for us now. In short, we are going to lie to an unbreakable trustless system until it births the world we’re lying about into the realm of what is real. In shorter, we are going to believe our bullshit more than you cannot believe it, until we have delivered what we promised.
The Problem
The problem with growing as fast as the control our Computer Science Appreciation Club is over the Ethereum Network is that its too fast. We’re growing our sum of coins so fast, that to an outside observer you might think we were a hedge fund of some sort at best. But at worst, you might think we were a criminal enterprise. Legitimate enterprises don’t grow at 1% or more daily infinitely, but we do. And if you were not as educated as you are, now, at this point in reading this, when you saw how “rich” we were, you might think someone should try to stop it. We would ask, for your sake, and our own, that you don’t – we don’t need you to do anything, and the world is going to get better from here.
The problem is that if we were a hedge fund, which we aren’t, then we would need to file paperwork to take control of other people’s funds. If these were securities, the acts we were going to commit would be best exemplified in Wolf of Wall Street, but we’re going to do it on a much greater scale with computers. Lucky for us, these coins are not securities, they are less regulated than the gold in World of Warcraft you can buy with your credit card, or the skins in League of Legends. These coins are worth nothing, and everything, at the same time.
But the bigger problem, is that I cannot stop you from sending “money” to my “hedge fund” when/if you sent ether to my wallet address where we are running this experiment. It’s a decentralized system, and its open source, and completely public, if we tried to hide it would only work for so long until an internet detective found it. If someone was to find the address of our computer science appreciation club, we could not stop them from sending coins there. But, since we cannot stop them, we would like them not to waste their time looking – the address is this on the Ethereum Network:
0xCDF449b5c9Bd2A725319163C3E7f2d7222c4d8c9
We have the best legal minds on the planet trying to solve this puzzle with us, and we’ll get the paperwork straight soon – if the Winklevoss Twins don’t think it’s a conflict of interest.
If reading this letter, you find your brain to be so tickled by it - that regardless of the forces that seek to keep us from accumulating enough resources to do this in two years, you wish to believe in it more than those opposing forces, and in doing so stake your opinion about what the future you are going to live will be, I would not ask you to waste a moment of your life looking for us, because we are here to be found. We cannot count our coins as fast as they grow, but our collective efforts will be carved into the eternal stone of the Ethereum network, and I promise we’re going to give back all of these coins to the world, when we’re done fixing a few things.
But there is another problem, and its far worse than making “money” too fast - just as we are going to bet that no one goes to the moon until someone does every year forever just for fun, it is possible to bet on the absence of a war until a war exists because your certainty manifests it into being to spite you. The same market we hope to keep the world at peace, and put their fears to rest from the uncertainty of where we’re going next is also a mechanism to game our system, and bet on a war happening to get rich. But there is a way to stop this – we’re going to accumulate the majority of the REP tokens, and if we have 51% of the circulation, if someone tries to beat us at our own game and bring a war into existence – then we would be able to stop the unstoppable machine from making them rich. We will also have the wallet addresses of the people who needed the insurance policy we are going to unfairly deny, to make them whole, and they would have neighbors with means to support them while we unfucked the pooch. We would have a failsafe to prevent a war from coming to be, because we are so sure there will not be one that it might happen. This, above all else, will back the new currency we are going to issue to the planet. Our new currency will not be backed by gold, or equity, or faith in a flawed system. It we be backed by trust of mankind invested back into itself that we will not go back to a system that will tolerate scarcity, or war, or hunger in exchange for the certainty of the absence of these things. No one will need to ask what is in our vault, or need to audit it, until the day comes where maybe someone will try to beat us at our own game. If that happens – we’re going to need the world to give back the currency we gave it as our collective reward for our cooperation, to free the tool we need to stop violent men from becoming rich men at the cost of a world without poverty, because it will be the immutable collateral backing the currency we are going to give you.
As a disclaimer, Im not somebody who has the background you might think someone should have for this – Im just a hobbit. Im not a hedge fund manager, or a computer science engineer. I raise pigs, and ducks, and geese that need some help, too – because we aren’t eating them enough to keep them existing in our food supply. It is a more fun paradox than this, and I get to solve that one by cooking dinner for some friends, and telling stories when this adventure is over. It feels a little like The Shire there, where I’ve been hiding melting my ego with psychedelics in the sunshine while salting pork, and listening to podcasts from Rogan, Duncan, Bart Chystler, Tom and Krista, some tinfoil hat guys, and seeing how abundant a life can be given only a little bit of hopium and room for creativity, and Im eager to get there and back, again. I very much look forward to seeing what we’re all capable of, when we’re given a chance. But we’re going to have to put a little faith in a system that doesn’t need faith to operate - so that we can fix a different system that has never needed it more. I think we’re going to be able to do that for us all, but I might very well be lying to you, and not know it yet – at least, that’s the plan.
Ironically, salting pork is what brought me to understand what is worth something, and what isn’t. When they used to talk about a “salary” or say that you were “worth your salt” was because all that you needed to live was enough salt to keep your meat from rotting when you cured it into bacon and hams at the end of the season. The salt’s value wasn’t while it was in the bag, it was while it was preserving your food when times were hard and things were scarce. In the modern time, a salary is what gets bigger when a emloyer make his employees poorer. Now, we have made laws to respect each other by race and religion and where who-sticks-what-where, but made it legal and standard to reduce someone’s value to an integer value of currency per moment in time, and the currency is backed by oppression of man-against-man (chicks, too). To increase your integer value per moment in time, that gain must come from another? Are we the only people who think this is inherently disrespectful to your fellow man even if you don’t call him a “fag” to his face like we used to when we were kids and it meant “I love you, man – but Im too afraid of being called gay to say it”.
In the present what is perhaps the most scarce of all, are places where you are free to be an animal at all, let alone places where you are free to be the lion you might be and not know it. We are so caught up in having agreed upon contracts so that we don’t get fucked, that we don’t have trust or honor that is held between lions when the zebra meat is abundant and they eat shoulder to shoulder without worry of each other. We live in a time where there is quite literally more deer on the planet than there has been in some time, and yet we imagine something would keep us as lions from preying on them in the real world. But, to us, as long as you are giving the animals fair chase, there is no time that feeding yourself as the king of the jungle is wrong, if you are hungry. And Im here to tell the people who think they can stop us, that we are giving you fair chase. We will be in every exchange on the planet soon, giving you chances to get on or off this train. And when you buy, it will be from us. When you sell, it will be to us. Your only safe market is the door out of here in ETH/USD and BTC/USD because we will not be selling our coins, only buying more. And every time you do anything other than leave your coins on the table, and take that worthless paper money with you, we will grow that much stronger. If you buy the coins we want, you will give us power in the real world. If you sell them, we will get them cheaper. When your fear or FOMO has sent you zigging… or for that matter zagging, one of my lions will catch you. We are not asking for your support by way of co-operation, we are asking for it by absence of resistance from a better world than this one. If you will not give us your coins, then we ask that you do not trade them. Keep the keys, or burn them and count them as your contribution without us knowing my band of pirates owes you a favor. Our only compromise is to remove them from circulation, as in this decentralized system, that is the only place we cannot reach them. But co-operation will get us there far, far sooner. To quote a most wise computer scientist, “Resistance is futile, you will be assimilated.” We have re-programmed the Kobayashi Maru. My fellowship and I have set out for Mount Doom. And you will be skeptical of us, all the way until you aren’t. And then, I would ask for only your belief – perhaps in no one more then yourselves, that you could be the type of person to rise to a challenge that will face us that we haven’t seen yet. But maybe you can rise to face the challenges that have always been faced, by mother and fathers, and children – spending time together, eating real and wholesome food in good company as often as you can. Those challenges are the simple ones, and we have had the answer for longer than we’ve lost them. You just need to be worth your salt.
If you need someone with a stronger background to support my position, I cant give that to you right now, because Satoshi Nakamoto himself only 8 years of experience. But someone smarter than me said something that sent me down this road while I had smoked enough to dissolve the prison I had made for myself, and it might help you. You can watch it here:
https://www.youtube.com/watch?v=D1R-jKKp3NA
I am the son of this good, good, man - who cannot or will not believe this is possible. https://www.linkedin.com/in/peterhchapman/
He is the former CEO of Ray Kurzwiel's largest portfolio holding (who first conceptualized the singularity). He now works a few steps away from Jeff Bezos. And if you do not believe me, dont worry, because he didnt get past the first paragraph of this story.
But I have melted my ego time and time again under the simmering heat of psychedelics, standing alone in a field with pigs, but also in the company of minds longing to break free when they tune into this podcast. And time and time again when I have nothing of an ego to call my own, I cannot shake the feeling that I am the chance event needed to occur within an economic engine that must break so it can be rebuilt better. Outside of the Duncan Trussel Family Hour, I think the Joe Rogan subreddit might be the largest and most public reserve of belief in things that have no reason to believe in aside from because they might work, and I am one of you.
I have no intention of allowing my father's disbelief to become the first gate keeper I have encountered that can keep me from asking Ray Kurzwiel to try to let us stake the Singularity into existence by betting it cant happen in our life time. I have no intention of letting my father stop me from asking Bezos to let me bet that no one will go to the moon, until someone rises to the occasion to prove him wrong.
I need your help, and this is as far as I've gotten, but I dont know if I can go further alone. I seek fellowship, on this quest, and I have come here to what is potentially the Rivendel of our time - Reddit and the JRE
submitted by CompSciAppreciation to DTFH [link] [comments]

Augur, and the space time continuum

Hello, friends. I would like to tell you a story to beat all stories. There once was a hobbit, who lived in a hole… and this is a retelling of a very old story, or allegory, as I hope you will contact us afterwards, of how he got out of the cave he made for himself.
The Plan
We are going to monopolize a series of decentralized crypto currency networks, more specifically utility token networks, that currently exist in a state of simultaneously being over valued, and under valued, at the same time. This result was not expected at the outset of the creation of the projects that we are going to explore, but I assure you, this is the case. It is very possible that we’re looking at the cutting edge of computer science – potentially, we are looking at a rip in the space-time continuum – but what is most definite is that we’re looking at an arbitrage opportunity of historic significance. It is also potentially going to be the largest robbery perpetrated against the most deserving victims, resulting in the most benefit for the most people since Robin Hood took Prince John’s last shilling.
What Im going to describe is a little bit classical investing, a little bit of The Matrix, and a little bit Oceans 11. Its also going to be a little bit Darwinist, a little bit Wolf of Wall Street, and very self-serving all the way to the end of it, where it becomes the most beautiful gift humanity ever gave to itself. But the good part, at the very end, only happens if we can trust each other to break an unbreakable trustless system. And after we’re done doing that, we’re going to have to do something that is even more unheard of in the study of history, and a thing commonly only found in fantasy. What we’re going to try to create is the most similar to 9/11, in the sense that it is the opposite of it. Our data has found, through the study of human history, that a small group of people sufficiently funded with a relatively small sum of money are capable of taking that money, and turning it into a catalyst that results in a historic event that shapes the future for many years to come. The common term for this is a catastrophe, or cataclysmic event.
But the thesis of this computer science experiment that we’re already undertaking, but seek the support of in reaching out to you, is that we can create the opposite of a catastrophe. The term for this was coined first by JRR Tolkien – he referred to this even as a “eucatastrophe” or a “a sudden and favorable resolution of events in a story” but perhaps is most commonly known to the public as “a happy ending” – he describes this event in the The Lord of the Rings, when Frodo drops the ring into Mount Doom.
I believe it is possible to dream a happy ending into existence using computer logic and the greed of speculation about the future, rather than the real world investing in it that our market system was supposed to provide - but this is how the story begins.
Orientation
The first crypto currency, Bitcoin, is only 8 years old, and at the end of this document, you will likely understand more about crypto currency than the people who created the first one. This is possible because it is an entire sector that has been more pushed forward by dreamers and curious minds than it has been developed by venture capital interests.
Groups that demand immediate and consistent profitable returns, and measure those returns against the results of other ventures that have been agreed on to be the benchmark of success would suggest that double digit annual returns are unsustainable but its best to enjoy them while it lasts. But, we have found, using crypto currencies, that the returns traditional investing earn in a year can be gained in a day, when occupying enough market share of a market. We do this using automation to interact with the world markets in a specific way that provides liquidity and stability in markets that are traditionally the most volatile in the world. As the price moves, we tax that movement, and extract value for ourselves by way of profits from trading, and create value for the broader ecosystem in the form of price support, thus preventing the market from bottoming out (or at least falling slower because of our participation), as well as creating price stability during market highs, allowing people with non-automated trading systems to capitalize on longer periods of positive growth without missing the chance to sell while the market is up.
While our automation has sufficient funds to provide liquidity in these exchanges, we are day over day getting between 100 and 300 bps/day in earnings. To continue providing liquidity to these markets when our own reserves of coins are low, we are using a decentralized smart contract that provides credit in exchange for collateral and interest on the resources lent. By using this method, we are able to keep liquidity in these markets, and our trading system maximally effective, regardless of price movement or our own holdings of coins, and the interest on renting the coins to do it is almost negligible.
Furthermore, these markets are “utility tokens” exchanges. That is to say, these tokens only represent resources a computer network should allocate to a user based on the size of his coin holdings. There are no traditional metrics to evaluate these coins and their value, as the market price of them is simply the intersection of supply and demand on a moment to moment basis as determined by a decentralized network of users who have or want them. In short, they will never be so cheap that the price of the desk the computers sit on is greater than the price of owning a stake in that desk, because they do not represent ownership of that desk at all. Likewise, when the price is astronomically high, it can never be deemed too high, because the network it represents resource allocation of does not now, nor ever will be profitable or unprofitable. It simply will continue to be there, and allow you to interact with it, based on if you have coins for that network and how many. It is more important to understand that these coins are NOT SECURITIES than it is to understand what those coins are at all.
Going forward, a great deal of this plan and discussion will be metaphor and perhaps come across as hyperbole. The reason for this is because the systems that we are talking about are simply shuffling zeroes and ones to each other, and if I gave you the math for what is going to happen expressed in those terms, there are few or no minds on the planet that could follow the thread of this discussion in those terms at all in the context of how much data the network has if you tried to aggregate it.
The very people who create and code these networks do not even interact with them on these terms of zeroes and ones, but rather in a coding language. In this sense, even the people coding these systems are only using metaphor by interacting using the programming languages that they do. And so, in order to make this slightly less boring, and more readable, I hope you will forgive the use of language that is more descriptive than it is literal, but what is most important to remember along the way is that nothing about what is being described is a crime as the Security Exchange Commission would see it, because none of these things are securities at all.
What is the Bitcoin Network?
The first bitcoin was created 8 years ago as a result of a cryptographic computer science experiment in which a group of people who referred to themselves as “the cryptopunks” sought to create a decentralized and censorship resistant network that could keep a ledger of the location of all the bitcoins and their ownership in real time without the need for any 3rd party involvement or consent.
The entity attributed with the creation of Bitcoin, and the blockchain technology is known only as “Satoshi Nakamoto” which is commonly agreed to be a pseudonym for a person or group of persons. No one has heard from “Satoshi Nakamoto” since “he” disappeared after a colleague on the Bitcoin team sent him an email saying that the CIA had reached out to him, and wanted to talk about their research.
The security of the blockchain is provided through “proof of work” in which a network of computers around the planet attempt to use brute for number crunching to find the sum of the interior angles of a triangle in non-Euclidean geometry based on 3 points on a sphere. The interior angle of that triangle are unpredictable, because unlike in traditional geometry where the sum of the angles is always 180 degrees, when 3 points on a triangle are placed on a sphere the range can fall anywhere above 180 degrees, but not equal to it, and as high as or equal to 540 degrees. To perhaps exemplify how a triangle can have 540 degrees, consider that if you and 2 friends formed a straight line on earth, that the interior angle between each of you is 180 degrees, and there are 3 of you, and the definition of a triangle is 3 points on any given plane, thus the angle of the triangle you formed when standing in a line is 540 degrees, and cannot be any greater. The interior angle of the previous block in the chain is the determining factor in the placement of the next 3 points to be solved for in the following. The first machine to solve the question of “How many degrees are inside this triangle?” by guessing is given the privilege of taking the highest bidders for his time from the market, and performing the protocols desired by way of recording changes to the block chain, while other participants in the system are prevented from recording in this way. As the next block cannot be solved without knowing the solution to the present one, the system is trustless and immutable – it cannot be tampered with, and is governed only by math, with no gate keepers.
What is the Ethereum Network?
The Ethereum Network, or Ethereum Virtual Machine, is a set of computer protocols with a heavy emphasis on determinism as the backbone it was built on. These protocols determine the outcome of an interaction with the blockchain, and the creation of an ever-evolving record of the location and allocation of the resources these systems are built to account for.
Ethereum also has the ability for users to interact and create decentralized “smart contracts” which serve to govern the ownership and allocation of coins as agreed upon by two parties based upon outcomes that don’t require a 3rd party to execute. Metaphorically, you can think of this as an ATM, where no bank teller interacts with you, but rather a user only interacts with a machine that allows you to deposit money in your savings account, and borrow on a credit card with a limit proportional to your savings account. You could also think of it as a dooms-day device, that is going to act the way its going to act with no way to stop it once events are put in motion.
Other users of the smart contract can see how you have interacted with it because the blockchain is public and visible to the world, and if they would like, can accept the terms of that agreement, and at no time can anyone other than each of the individual users control what the users are doing. In short, there are no gatekeepers in Ethereum. There is only what exists in the network by way of code, and the infinite room to put it there if you would like to and are willing to pay for the electricity needed to carve it into existence and be maintained for the rest of time, but this is a one time payment which costs less than your credit card skims from starbucks when you buy a coffee.
What is staking?
Staking is an idea seeking to resolve the problem of energy waste that is seen in proof of work. The problem with proof of work is that it takes a tremendous amount of energy to run the level of computation that crypto networks currently use, and all but 1 of those computations actually resulted in change at all. To solve this problem, a staking system could be put in place in which rather than randomly guessing as we have been, a user would put up collateral in order to act as verification entity, where the trust of that individual’s word was determined by how large of a stake that individual might have. Anyone who felt that the outcome of an event in the blockchain was being mis-reported could put a larger stake up or proportion thereof, and which ever outcome is the most heavily staked by the user base would be deemed the “true” outcome, because there is seemingly no value is attempting to stake a “lie” or “untruth” if a greater consensus could be made, as the economic incentive is to side with the truth than the lie.
What is Augur? What is REP?
Augur is a decentralized prediction market platform. The limits for what kind of market can be made is infinite, and censorship proof, as a result of being hosted on the Ethereum Network. Users stake their REP, short for Reputation, in order to report the resolution of market outcomes. Because Ethereum has no way of drawing information from the outside world without the outside world participating with it intentionally, this hurdle is overcome by allowing users to report themselves. In exchange for doing this reporting work, people who hold REP are given a small amount of the volume of those markets (as set by the market creators) and these dividends are paid in Ether (ETH).
So an example of what kind of market could be found within Augur is “Who will win the game this weekend between the Eagles and Packers?” or “Who is going to win the next election?” or “Will the rainfall this year in Chicago exceed 22 inches?” or even “When will mankind cure death?”. There is no approval process in creating a market, only a loose form users must stick to, and the resource requirements to maintain that market on the blockchain – again, infinitely, for the rest of time if desired, in exchange for a one time payment in the present to cover the cost of electricity to manifest your will or curiosity on the network.
In the time between the creation and resolution of these markets, users can see the likelihood of the outcome of any given result represented by the confidence in that result numerically using Ether and the volume staking one outcome or another. This type of prediction oracle is called “The wisdom of the crowd” which says that it is more accurate to ask the crowd than any one person for their opinion of that outcome, as no one person has all the information on the system in question.
Computer Science and the Space-Time Continuum
We live in an uncertain time. In the very real world we live in people in our country are arming themselves against their neighbors. Gun sales at record highs. Racial tension. What would happen if my band of pirates staked 1,000,000 ETH in a prediction market paying 100,000:1 that we will all love each other and not have a race war. Do you think people who could see that uncensorable prediction market would feel more at ease, and perhaps not buy a gun, or fear their neighbor less? Do you think if we were correct about that prediction market that we would have gotten lucky, or would we have believed our own prediction into existence and created a situation where we are not only staking the future, but creating it by using greed as the fuel? If a person thought in spite of my band of misfits prediction market that there still would be a race war this year, do you think that they would spend 1,000 dollars on an AR-15 to feel safer, or stake the opposite position with those funds in that market against my declaration of peace, and rather have the keys to a wallet that can be accessed anywhere in the world with 100,000,000 dollars to buy their safety if they are ever living in a world where a gun might help?
Considering that my band of misfits doesnt need the money, nearly so much as we need a better safer world, and will have created an incentive for you to feel safer, and not buy a gun either way - do you think the future that comes to be was lucky prediction? Or market manipulation?
Would you rather have us manipulate that market? Or not?
What do you think would happen in the tech industry if we took the position that the singularity was going to happen in 2029 or not going to happen in 2028, and we staked 1 billion dollars on it happening accordingly. We would have created an incentive in a futures market for someone to take the opposite side of our action, and try to do it faster. If the singularity happened in 2028 because we took so much stupid beanie baby money and proclaimed that it was going to happen in 2029 - what just happened there? Did the winner of that bet in our futures market get lucky? Or did we just create a mechanism for greed to accelerate the end of human mortality because we said it would happen with money by staking the position that it wouldnt? What do you think would happen if we staked the temperature of the earth with that money that nearly destroyed it? What would happen if we staked the race to mars, or the moon? What if your opportunity was that no one had gone to the moon yet this year, and we had created a way to profit by just going to check that its still there? We would have created a global decentralized market for the challenges that we face as a species, and opportunity to optimize ourselves without needing permission to be the best versions we can be. All of these markets can be crowd funded into eternity for visa’s cut of your cup of coffee, and would grow infinitely from the failure of the previous moment in time until our disappointment and greed merge to collapse the infinite possibility of time and space, thus dreaming a better world into existence using man kind’s propensity for greed, and proven track record of being disappointing.
We believe that this will potentially cause dramatic harm to the crypto economy, and broader economy as we know if for a short time. We believe our system is capable of growing the coins in our custody at a rate well above 1.5% per day, because we are currently growing at 3% per day. The power of exponential growth is significant. Likely, more than you can imagine. Consider than 1 dollar today will be 38 next year at 1% growth per day. It will be over 50 at 1.1%, and at 3% growth per day, 1 dollar becomes almost 50,000 in a year. This is the data that assures me that I don’t really need your help, only would like it. Based on the coins in our custody now, and our present rate of growth and innovation, our projections put us at owning the bulk of coins in circulation in the next 19 years. But – if we were to push that timeline even a little bit, by increasing that pile of coins in the present, we accelerate the timeline exponentially. And if we increase the resources in our control by quite a bit… we believe that we will accomplish our goal in the next 2 years.
The Goal
When our Computer Science Appreciation Club has accumulated enough of the coins in the network, and wrung every bit of value that exists only as a result of greed and speculation by those who have no desire to ever use these networks, we are going to do another magic trick.
In addition to accelerating human accomplishment with the power of hope, dreams, and greed. We’re going to take all or some of the coins in our control, and we’re going to collateralize them in a money market very much like the one we are currently using to impose our will on the cryptocurrency ecosystem. We are going to issue a new coin, backed by all the coins we had accumulated previously to create a stable, immutable, uncontrollable, uncensorable, globally available currency. Then, we’re going to send the keys of an individual wallet address to every man woman and child on the planet with some of that coin in it. And we are going to put some more of that coin in it every day. So that at no point, will there be a day where someone can say they did not have two nickels to rub together. We believe no one will ever say they didn’t have two hundred dollar bills together, when we are successful, ever again.
But this is not a selfless act by my merry band of misfits and pirates. Quite the contrary. We believe that nearly everyone on the planet that we interact with is disappointing. That the chimpanzee meat computer of our present hardware is ill suited to optimizing for the future in the present paradigm. We are giving away this money at that point, so that everyone can stop being such a disappointment to us. We are tired of the experience where an hourly employee gives us bad customer service because they are not paid enough to put up with our bullshit. We hope to make a world where people interact with each other because they want to, not because they have to. We are going to be filthy rich, when we are successful, or for that matter if we fail, my band of misfits. And we are worried when that happens about how long before it is that men with guns come for what is ours. We don’t know if these men with guns will come from the governments of the world, or from those envying what we have.
We seek to become the golden goose of the planet, and in return we would like to not fear slaughter while we try this. In this arrangement, we look only for your cooperation, and in return, will share an infinite sum of golden eggs with you, and everyone you know. And when we do this, we will not fear the envy of our neighbors, nor the governments who command the armies it would take to stop us. We will protect the people from their governments, and themselves. And in time, we hope the governments will likewise protect us from their people, though letting go of power will no doubt be hard to swallow. The only thing that can stop us from doing this is if someone buys the coins that give us power from us. And in doing so, would give us the wealth we need to accomplish these things in the real world. If we are not bought out, we will accumulate enough coins in the Ethereum Network that we can impose our will upon it, until we can deliver on our promises of a better world because we control it completely.
In these sense, we have already won. A better world is already here, as certainly as we have already dreamed the path to it. We plan on out-staking a better world into existence, regardless of what the future currently holds in store for us now. In short, we are going to lie to an unbreakable trustless system until it births the world we’re lying about into the realm of what is real. In shorter, we are going to believe our bullshit more than you cannot believe it, until we have delivered what we promised.
The Problem
The problem with growing as fast as the control our Computer Science Appreciation Club is over the Ethereum Network is that its too fast. We’re growing our sum of coins so fast, that to an outside observer you might think we were a hedge fund of some sort at best. But at worst, you might think we were a criminal enterprise. Legitimate enterprises don’t grow at 1% or more daily infinitely, but we do. And if you were not as educated as you are, now, at this point in reading this, when you saw how “rich” we were, you might think someone should try to stop it. We would ask, for your sake, and our own, that you don’t – we don’t need you to do anything, and the world is going to get better from here.
The problem is that if we were a hedge fund, which we aren’t, then we would need to file paperwork to take control of other people’s funds. If these were securities, the acts we were going to commit would be best exemplified in Wolf of Wall Street, but we’re going to do it on a much greater scale with computers. Lucky for us, these coins are not securities, they are less regulated than the gold in World of Warcraft you can buy with your credit card, or the skins in League of Legends. These coins are worth nothing, and everything, at the same time.
But the bigger problem, is that I cannot stop you from sending “money” to my “hedge fund” when/if you sent ether to my wallet address where we are running this experiment. It’s a decentralized system, and its open source, and completely public, if we tried to hide it would only work for so long until an internet detective found it. If someone was to find the address of our computer science appreciation club, we could not stop them from sending coins there. But, since we cannot stop them, we would like them not to waste their time looking – the address is this on the Ethereum Network:
0xCDF449b5c9Bd2A725319163C3E7f2d7222c4d8c9
We have the best legal minds on the planet trying to solve this puzzle with us, and we’ll get the paperwork straight soon – if the Winklevoss Twins don’t think it’s a conflict of interest.
If reading this letter, you find your brain to be so tickled by it - that regardless of the forces that seek to keep us from accumulating enough resources to do this in two years, you wish to believe in it more than those opposing forces, and in doing so stake your opinion about what the future you are going to live will be, I would not ask you to waste a moment of your life looking for us, because we are here to be found. We cannot count our coins as fast as they grow, but our collective efforts will be carved into the eternal stone of the Ethereum network, and I promise we’re going to give back all of these coins to the world, when we’re done fixing a few things.
But there is another problem, and its far worse than making “money” too fast - just as we are going to bet that no one goes to the moon until someone does every year forever just for fun, it is possible to bet on the absence of a war until a war exists because your certainty manifests it into being to spite you. The same market we hope to keep the world at peace, and put their fears to rest from the uncertainty of where we’re going next is also a mechanism to game our system, and bet on a war happening to get rich. But there is a way to stop this – we’re going to accumulate the majority of the REP tokens, and if we have 51% of the circulation, if someone tries to beat us at our own game and bring a war into existence – then we would be able to stop the unstoppable machine from making them rich. We will also have the wallet addresses of the people who needed the insurance policy we are going to unfairly deny, to make them whole, and they would have neighbors with means to support them while we unfucked the pooch. We would have a failsafe to prevent a war from coming to be, because we are so sure there will not be one that it might happen. This, above all else, will back the new currency we are going to issue to the planet. Our new currency will not be backed by gold, or equity, or faith in a flawed system. It we be backed by trust of mankind invested back into itself that we will not go back to a system that will tolerate scarcity, or war, or hunger in exchange for the certainty of the absence of these things. No one will need to ask what is in our vault, or need to audit it, until the day comes where maybe someone will try to beat us at our own game. If that happens – we’re going to need the world to give back the currency we gave it as our collective reward for our cooperation, to free the tool we need to stop violent men from becoming rich men at the cost of a world without poverty, because it will be the immutable collateral backing the currency we are going to give you.
As a disclaimer, Im not somebody who has the background you might think someone should have for this – Im just a hobbit. Im not a hedge fund manager, or a computer science engineer. I raise pigs, and ducks, and geese that need some help, too – because we aren’t eating them enough to keep them existing in our food supply. It is a more fun paradox than this, and I get to solve that one by cooking dinner for some friends, and telling stories when this adventure is over. It feels a little like The Shire there, where I’ve been hiding melting my ego with psychedelics in the sunshine while salting pork, and listening to podcasts from Rogan, Duncan, Bart Chystler, Tom and Krista, some tinfoil hat guys, and seeing how abundant a life can be given only a little bit of hopium and room for creativity, and Im eager to get there and back, again. I very much look forward to seeing what we’re all capable of, when we’re given a chance. But we’re going to have to put a little faith in a system that doesn’t need faith to operate - so that we can fix a different system that has never needed it more. I think we’re going to be able to do that for us all, but I might very well be lying to you, and not know it yet – at least, that’s the plan.
Ironically, salting pork is what brought me to understand what is worth something, and what isn’t. When they used to talk about a “salary” or say that you were “worth your salt” was because all that you needed to live was enough salt to keep your meat from rotting when you cured it into bacon and hams at the end of the season. The salt’s value wasn’t while it was in the bag, it was while it was preserving your food when times were hard and things were scarce. In the modern time, a salary is what gets bigger when a emloyer make his employees poorer. Now, we have made laws to respect each other by race and religion and where who-sticks-what-where, but made it legal and standard to reduce someone’s value to an integer value of currency per moment in time, and the currency is backed by oppression of man-against-man (chicks, too). To increase your integer value per moment in time, that gain must come from another? Are we the only people who think this is inherently disrespectful to your fellow man even if you don’t call him a “fag” to his face like we used to when we were kids and it meant “I love you, man – but Im too afraid of being called gay to say it”.
In the present what is perhaps the most scarce of all, are places where you are free to be an animal at all, let alone places where you are free to be the lion you might be and not know it. We are so caught up in having agreed upon contracts so that we don’t get fucked, that we don’t have trust or honor that is held between lions when the zebra meat is abundant and they eat shoulder to shoulder without worry of each other. We live in a time where there is quite literally more deer on the planet than there has been in some time, and yet we imagine something would keep us as lions from preying on them in the real world. But, to us, as long as you are giving the animals fair chase, there is no time that feeding yourself as the king of the jungle is wrong, if you are hungry. And Im here to tell the people who think they can stop us, that we are giving you fair chase. We will be in every exchange on the planet soon, giving you chances to get on or off this train. And when you buy, it will be from us. When you sell, it will be to us. Your only safe market is the door out of here in ETH/USD and BTC/USD because we will not be selling our coins, only buying more. And every time you do anything other than leave your coins on the table, and take that worthless paper money with you, we will grow that much stronger. If you buy the coins we want, you will give us power in the real world. If you sell them, we will get them cheaper. When your fear or FOMO has sent you zigging… or for that matter zagging, one of my lions will catch you. We are not asking for your support by way of co-operation, we are asking for it by absence of resistance from a better world than this one. If you will not give us your coins, then we ask that you do not trade them. Keep the keys, or burn them and count them as your contribution without us knowing my band of pirates owes you a favor. Our only compromise is to remove them from circulation, as in this decentralized system, that is the only place we cannot reach them. But co-operation will get us there far, far sooner. To quote a most wise computer scientist, “Resistance is futile, you will be assimilated.” We have re-programmed the Kobayashi Maru. My fellowship and I have set out for Mount Doom. And you will be skeptical of us, all the way until you aren’t. And then, I would ask for only your belief – perhaps in no one more then yourselves, that you could be the type of person to rise to a challenge that will face us that we haven’t seen yet. But maybe you can rise to face the challenges that have always been faced, by mother and fathers, and children – spending time together, eating real and wholesome food in good company as often as you can. Those challenges are the simple ones, and we have had the answer for longer than we’ve lost them. You just need to be worth your salt.
If you need someone with a stronger background to support my position, I cant give that to you right now, because Satoshi Nakamoto himself only 8 years of experience. But someone smarter than me said something that sent me down this road while I had smoked enough to dissolve the prison I had made for myself, and it might help you. You can watch it here:
https://www.youtube.com/watch?v=D1R-jKKp3NA
I am the son of this good, good, man - who cannot or will not believe this is possible. https://www.linkedin.com/in/peterhchapman/ I am the grand son, of this grand, old, man https://en.wikipedia.org/wiki/Philip_K._Chapman I am perhaps the longest living descendant of an unbroken chain of criminals and explorers on the planet, and I have some new ground to break to give those great men a complex.
My father is the former CEO of Ray Kurzwiel's largest portfolio holding (who first conceptualized the singularity). He now works a few steps away from Jeff Bezos. And if you do not believe me, dont worry, because he didnt get past the first paragraph of this story before telling my I had left a bread-crumb trail of crime to my door.
But I have melted my ego time and time again under the simmering heat of psychedelics, standing alone in a field with pigs, but also in the company of minds longing to break free when they tune into this podcast. And time and time again when I have nothing of an ego to call my own, I cannot shake the feeling that I am the chance event needed to occur within an economic engine that must break so it can be rebuilt better. Outside of the Duncan Trussel Family Hour, I think the Joe Rogan subreddit might be the largest and most public reserve of belief in things that have no reason to believe in aside from because they might work, and I am one of you.
I have no intention of allowing my father's disbelief to become the first gate keeper I have encountered that can keep me from asking Ray Kurzwiel to try to let us stake the Singularity into existence by betting it cant happen in our life time. I have no intention of letting my father stop me from asking Bezos to let me bet that no one will go to the moon, until someone rises to the occasion to prove him wrong.
I need your help, and this is as far as I've gotten, but I dont know if I can go further alone. I seek fellowship, on this quest, and I have come here to what is potentially the Rivendel of our time - Reddit.
submitted by CompSciAppreciation to Augur [link] [comments]

I think the answer is yes. I cant post on the subs about decentralized censorship resistant tech, because the tech is censoring my words by judging the age of the account as the validation test for their right to stay the words on the internet. If that isnt proof, read more.

Hello, friends. I would like to tell you a story to beat all stories. There once was a hobbit, who lived in a hole… and this is a retelling of a very old story, or allegory, as I hope you will contact us afterwards, of how he got out of the cave he made for himself.
The Plan
We are going to monopolize a series of decentralized crypto currency networks, more specifically utility token networks, that currently exist in a state of simultaneously being over valued, and under valued, at the same time. This result was not expected at the outset of the creation of the projects that we are going to explore, but I assure you, this is the case. It is very possible that we’re looking at the cutting edge of computer science – potentially, we are looking at a rip in the space-time continuum – but what is most definite is that we’re looking at an arbitrage opportunity of historic significance. It is also potentially going to be the largest robbery perpetrated against the most deserving victims, resulting in the most benefit for the most people since Robin Hood took Prince John’s last shilling.
What Im going to describe is a little bit classical investing, a little bit of The Matrix, and a little bit Oceans 11. Its also going to be a little bit Darwinist, a little bit Wolf of Wall Street, and very self-serving all the way to the end of it, where it becomes the most beautiful gift humanity ever gave to itself. But the good part, at the very end, only happens if we can trust each other to break an unbreakable trustless system. And after we’re done doing that, we’re going to have to do something that is even more unheard of in the study of history, and a thing commonly only found in fantasy. What we’re going to try to create is the most similar to 9/11, in the sense that it is the opposite of it. Our data has found, through the study of human history, that a small group of people sufficiently funded with a relatively small sum of money are capable of taking that money, and turning it into a catalyst that results in a historic event that shapes the future for many years to come. The common term for this is a catastrophe, or cataclysmic event.
But the thesis of this computer science experiment that we’re already undertaking, but seek the support of in reaching out to you, is that we can create the opposite of a catastrophe. The term for this was coined first by JRR Tolkien – he referred to this even as a “eucatastrophe” or a “a sudden and favorable resolution of events in a story” but perhaps is most commonly known to the public as “a happy ending” – he describes this event in the The Lord of the Rings, when Frodo drops the ring into Mount Doom.
I believe it is possible to dream a happy ending into existence using computer logic and the greed of speculation about the future, rather than the real world investing in it that our market system was supposed to provide - but this is how the story begins.
Orientation
The first crypto currency, Bitcoin, is only 8 years old, and at the end of this document, you will likely understand more about crypto currency than the people who created the first one. This is possible because it is an entire sector that has been more pushed forward by dreamers and curious minds than it has been developed by venture capital interests.
Groups that demand immediate and consistent profitable returns, and measure those returns against the results of other ventures that have been agreed on to be the benchmark of success would suggest that double digit annual returns are unsustainable but its best to enjoy them while it lasts. But, we have found, using crypto currencies, that the returns traditional investing earn in a year can be gained in a day, when occupying enough market share of a market. We do this using automation to interact with the world markets in a specific way that provides liquidity and stability in markets that are traditionally the most volatile in the world. As the price moves, we tax that movement, and extract value for ourselves by way of profits from trading, and create value for the broader ecosystem in the form of price support, thus preventing the market from bottoming out (or at least falling slower because of our participation), as well as creating price stability during market highs, allowing people with non-automated trading systems to capitalize on longer periods of positive growth without missing the chance to sell while the market is up.
While our automation has sufficient funds to provide liquidity in these exchanges, we are day over day getting between 100 and 300 bps/day in earnings. To continue providing liquidity to these markets when our own reserves of coins are low, we are using a decentralized smart contract that provides credit in exchange for collateral and interest on the resources lent. By using this method, we are able to keep liquidity in these markets, and our trading system maximally effective, regardless of price movement or our own holdings of coins, and the interest on renting the coins to do it is almost negligible.
Furthermore, these markets are “utility tokens” exchanges. That is to say, these tokens only represent resources a computer network should allocate to a user based on the size of his coin holdings. There are no traditional metrics to evaluate these coins and their value, as the market price of them is simply the intersection of supply and demand on a moment to moment basis as determined by a decentralized network of users who have or want them. In short, they will never be so cheap that the price of the desk the computers sit on is greater than the price of owning a stake in that desk, because they do not represent ownership of that desk at all. Likewise, when the price is astronomically high, it can never be deemed too high, because the network it represents resource allocation of does not now, nor ever will be profitable or unprofitable. It simply will continue to be there, and allow you to interact with it, based on if you have coins for that network and how many. It is more important to understand that these coins are NOT SECURITIES than it is to understand what those coins are at all.
Going forward, a great deal of this plan and discussion will be metaphor and perhaps come across as hyperbole. The reason for this is because the systems that we are talking about are simply shuffling zeroes and ones to each other, and if I gave you the math for what is going to happen expressed in those terms, there are few or no minds on the planet that could follow the thread of this discussion in those terms at all in the context of how much data the network has if you tried to aggregate it.
The very people who create and code these networks do not even interact with them on these terms of zeroes and ones, but rather in a coding language. In this sense, even the people coding these systems are only using metaphor by interacting using the programming languages that they do. And so, in order to make this slightly less boring, and more readable, I hope you will forgive the use of language that is more descriptive than it is literal, but what is most important to remember along the way is that nothing about what is being described is a crime as the Security Exchange Commission would see it, because none of these things are securities at all.
What is the Bitcoin Network?
The first bitcoin was created 8 years ago as a result of a cryptographic computer science experiment in which a group of people who referred to themselves as “the cryptopunks” sought to create a decentralized and censorship resistant network that could keep a ledger of the location of all the bitcoins and their ownership in real time without the need for any 3rd party involvement or consent.
The entity attributed with the creation of Bitcoin, and the blockchain technology is known only as “Satoshi Nakamoto” which is commonly agreed to be a pseudonym for a person or group of persons. No one has heard from “Satoshi Nakamoto” since “he” disappeared after a colleague on the Bitcoin team sent him an email saying that the CIA had reached out to him, and wanted to talk about their research.
The security of the blockchain is provided through “proof of work” in which a network of computers around the planet attempt to use brute for number crunching to find the sum of the interior angles of a triangle in non-Euclidean geometry based on 3 points on a sphere. The interior angle of that triangle are unpredictable, because unlike in traditional geometry where the sum of the angles is always 180 degrees, when 3 points on a triangle are placed on a sphere the range can fall anywhere above 180 degrees, but not equal to it, and as high as or equal to 540 degrees. To perhaps exemplify how a triangle can have 540 degrees, consider that if you and 2 friends formed a straight line on earth, that the interior angle between each of you is 180 degrees, and there are 3 of you, and the definition of a triangle is 3 points on any given plane, thus the angle of the triangle you formed when standing in a line is 540 degrees, and cannot be any greater. The interior angle of the previous block in the chain is the determining factor in the placement of the next 3 points to be solved for in the following. The first machine to solve the question of “How many degrees are inside this triangle?” by guessing is given the privilege of taking the highest bidders for his time from the market, and performing the protocols desired by way of recording changes to the block chain, while other participants in the system are prevented from recording in this way. As the next block cannot be solved without knowing the solution to the present one, the system is trustless and immutable – it cannot be tampered with, and is governed only by math, with no gate keepers.
What is the Ethereum Network?
The Ethereum Network, or Ethereum Virtual Machine, is a set of computer protocols with a heavy emphasis on determinism as the backbone it was built on. These protocols determine the outcome of an interaction with the blockchain, and the creation of an ever-evolving record of the location and allocation of the resources these systems are built to account for.
Ethereum also has the ability for users to interact and create decentralized “smart contracts” which serve to govern the ownership and allocation of coins as agreed upon by two parties based upon outcomes that don’t require a 3rd party to execute. Metaphorically, you can think of this as an ATM, where no bank teller interacts with you, but rather a user only interacts with a machine that allows you to deposit money in your savings account, and borrow on a credit card with a limit proportional to your savings account. You could also think of it as a dooms-day device, that is going to act the way its going to act with no way to stop it once events are put in motion.
Other users of the smart contract can see how you have interacted with it because the blockchain is public and visible to the world, and if they would like, can accept the terms of that agreement, and at no time can anyone other than each of the individual users control what the users are doing. In short, there are no gatekeepers in Ethereum. There is only what exists in the network by way of code, and the infinite room to put it there if you would like to and are willing to pay for the electricity needed to carve it into existence and be maintained for the rest of time, but this is a one time payment which costs less than your credit card skims from starbucks when you buy a coffee.
What is staking?
Staking is an idea seeking to resolve the problem of energy waste that is seen in proof of work. The problem with proof of work is that it takes a tremendous amount of energy to run the level of computation that crypto networks currently use, and all but 1 of those computations actually resulted in change at all. To solve this problem, a staking system could be put in place in which rather than randomly guessing as we have been, a user would put up collateral in order to act as verification entity, where the trust of that individual’s word was determined by how large of a stake that individual might have. Anyone who felt that the outcome of an event in the blockchain was being mis-reported could put a larger stake up or proportion thereof, and which ever outcome is the most heavily staked by the user base would be deemed the “true” outcome, because there is seemingly no value is attempting to stake a “lie” or “untruth” if a greater consensus could be made, as the economic incentive is to side with the truth than the lie.
What is Augur? What is REP?
Augur is a decentralized prediction market platform. The limits for what kind of market can be made is infinite, and censorship proof, as a result of being hosted on the Ethereum Network. Users stake their REP, short for Reputation, in order to report the resolution of market outcomes. Because Ethereum has no way of drawing information from the outside world without the outside world participating with it intentionally, this hurdle is overcome by allowing users to report themselves. In exchange for doing this reporting work, people who hold REP are given a small amount of the volume of those markets (as set by the market creators) and these dividends are paid in Ether (ETH).
So an example of what kind of market could be found within Augur is “Who will win the game this weekend between the Eagles and Packers?” or “Who is going to win the next election?” or “Will the rainfall this year in Chicago exceed 22 inches?” or even “When will mankind cure death?”. There is no approval process in creating a market, only a loose form users must stick to, and the resource requirements to maintain that market on the blockchain – again, infinitely, for the rest of time if desired, in exchange for a one time payment in the present to cover the cost of electricity to manifest your will or curiosity on the network.
In the time between the creation and resolution of these markets, users can see the likelihood of the outcome of any given result represented by the confidence in that result numerically using Ether and the volume staking one outcome or another. This type of prediction oracle is called “The wisdom of the crowd” which says that it is more accurate to ask the crowd than any one person for their opinion of that outcome, as no one person has all the information on the system in question.
Computer Science and the Space-Time Continuum
We live in an uncertain time. In the very real world we live in people in our country are arming themselves against their neighbors. Gun sales at record highs. Racial tension. What would happen if my band of pirates staked 1,000,000 ETH in a prediction market paying 100,000:1 that we will all love each other and not have a race war. Do you think people who could see that uncensorable prediction market would feel more at ease, and perhaps not buy a gun, or fear their neighbor less? Do you think if we were correct about that prediction market that we would have gotten lucky, or would we have believed our own prediction into existence and created a situation where we are not only staking the future, but creating it by using greed as the fuel? If a person thought in spite of my band of misfits prediction market that there still would be a race war this year, do you think that they would spend 1,000 dollars on an AR-15 to feel safer, or stake the opposite position with those funds in that market against my declaration of peace, and rather have the keys to a wallet that can be accessed anywhere in the world with 100,000,000 dollars to buy their safety if they are ever living in a world where a gun might help?
Considering that my band of misfits doesnt need the money, nearly so much as we need a better safer world, and will have created an incentive for you to feel safer, and not buy a gun either way - do you think the future that comes to be was lucky prediction? Or market manipulation?
Would you rather have us manipulate that market? Or not?
What do you think would happen in the tech industry if we took the position that the singularity was going to happen in 2029 or not going to happen in 2028, and we staked 1 billion dollars on it happening accordingly. We would have created an incentive in a futures market for someone to take the opposite side of our action, and try to do it faster. If the singularity happened in 2028 because we took so much stupid beanie baby money and proclaimed that it was going to happen in 2029 - what just happened there? Did the winner of that bet in our futures market get lucky? Or did we just create a mechanism for greed to accelerate the end of human mortality because we said it would happen with money by staking the position that it wouldnt? What do you think would happen if we staked the temperature of the earth with that money that nearly destroyed it? What would happen if we staked the race to mars, or the moon? What if your opportunity was that no one had gone to the moon yet this year, and we had created a way to profit by just going to check that its still there? We would have created a global decentralized market for the challenges that we face as a species, and opportunity to optimize ourselves without needing permission to be the best versions we can be. All of these markets can be crowd funded into eternity for visa’s cut of your cup of coffee, and would grow infinitely from the failure of the previous moment in time until our disappointment and greed merge to collapse the infinite possibility of time and space, thus dreaming a better world into existence using man kind’s propensity for greed, and proven track record of being disappointing.
We believe that this will potentially cause dramatic harm to the crypto economy, and broader economy as we know if for a short time. We believe our system is capable of growing the coins in our custody at a rate well above 1.5% per day, because we are currently growing at 3% per day. The power of exponential growth is significant. Likely, more than you can imagine. Consider than 1 dollar today will be 38 next year at 1% growth per day. It will be over 50 at 1.1%, and at 3% growth per day, 1 dollar becomes almost 50,000 in a year. This is the data that assures me that I don’t really need your help, only would like it. Based on the coins in our custody now, and our present rate of growth and innovation, our projections put us at owning the bulk of coins in circulation in the next 19 years. But – if we were to push that timeline even a little bit, by increasing that pile of coins in the present, we accelerate the timeline exponentially. And if we increase the resources in our control by quite a bit… we believe that we will accomplish our goal in the next 2 years.
The Goal
When our Computer Science Appreciation Club has accumulated enough of the coins in the network, and wrung every bit of value that exists only as a result of greed and speculation by those who have no desire to ever use these networks, we are going to do another magic trick.
In addition to accelerating human accomplishment with the power of hope, dreams, and greed. We’re going to take all or some of the coins in our control, and we’re going to collateralize them in a money market very much like the one we are currently using to impose our will on the cryptocurrency ecosystem. We are going to issue a new coin, backed by all the coins we had accumulated previously to create a stable, immutable, uncontrollable, uncensorable, globally available currency. Then, we’re going to send the keys of an individual wallet address to every man woman and child on the planet with some of that coin in it. And we are going to put some more of that coin in it every day. So that at no point, will there be a day where someone can say they did not have two nickels to rub together. We believe no one will ever say they didn’t have two hundred dollar bills together, when we are successful, ever again.
But this is not a selfless act by my merry band of misfits and pirates. Quite the contrary. We believe that nearly everyone on the planet that we interact with is disappointing. That the chimpanzee meat computer of our present hardware is ill suited to optimizing for the future in the present paradigm. We are giving away this money at that point, so that everyone can stop being such a disappointment to us. We are tired of the experience where an hourly employee gives us bad customer service because they are not paid enough to put up with our bullshit. We hope to make a world where people interact with each other because they want to, not because they have to. We are going to be filthy rich, when we are successful, or for that matter if we fail, my band of misfits. And we are worried when that happens about how long before it is that men with guns come for what is ours. We don’t know if these men with guns will come from the governments of the world, or from those envying what we have.
We seek to become the golden goose of the planet, and in return we would like to not fear slaughter while we try this. In this arrangement, we look only for your cooperation, and in return, will share an infinite sum of golden eggs with you, and everyone you know. And when we do this, we will not fear the envy of our neighbors, nor the governments who command the armies it would take to stop us. We will protect the people from their governments, and themselves. And in time, we hope the governments will likewise protect us from their people, though letting go of power will no doubt be hard to swallow. The only thing that can stop us from doing this is if someone buys the coins that give us power from us. And in doing so, would give us the wealth we need to accomplish these things in the real world. If we are not bought out, we will accumulate enough coins in the Ethereum Network that we can impose our will upon it, until we can deliver on our promises of a better world because we control it completely.
In these sense, we have already won. A better world is already here, as certainly as we have already dreamed the path to it. We plan on out-staking a better world into existence, regardless of what the future currently holds in store for us now. In short, we are going to lie to an unbreakable trustless system until it births the world we’re lying about into the realm of what is real. In shorter, we are going to believe our bullshit more than you cannot believe it, until we have delivered what we promised.
The Problem
The problem with growing as fast as the control our Computer Science Appreciation Club is over the Ethereum Network is that its too fast. We’re growing our sum of coins so fast, that to an outside observer you might think we were a hedge fund of some sort at best. But at worst, you might think we were a criminal enterprise. Legitimate enterprises don’t grow at 1% or more daily infinitely, but we do. And if you were not as educated as you are, now, at this point in reading this, when you saw how “rich” we were, you might think someone should try to stop it. We would ask, for your sake, and our own, that you don’t – we don’t need you to do anything, and the world is going to get better from here.
The problem is that if we were a hedge fund, which we aren’t, then we would need to file paperwork to take control of other people’s funds. If these were securities, the acts we were going to commit would be best exemplified in Wolf of Wall Street, but we’re going to do it on a much greater scale with computers. Lucky for us, these coins are not securities, they are less regulated than the gold in World of Warcraft you can buy with your credit card, or the skins in League of Legends. These coins are worth nothing, and everything, at the same time.
But the bigger problem, is that I cannot stop you from sending “money” to my “hedge fund” when/if you sent ether to my wallet address where we are running this experiment. It’s a decentralized system, and its open source, and completely public, if we tried to hide it would only work for so long until an internet detective found it. If someone was to find the address of our computer science appreciation club, we could not stop them from sending coins there. But, since we cannot stop them, we would like them not to waste their time looking – the address is this on the Ethereum Network:
0xCDF449b5c9Bd2A725319163C3E7f2d7222c4d8c9
We have the best legal minds on the planet trying to solve this puzzle with us, and we’ll get the paperwork straight soon – if the Winklevoss Twins don’t think it’s a conflict of interest.
If reading this letter, you find your brain to be so tickled by it - that regardless of the forces that seek to keep us from accumulating enough resources to do this in two years, you wish to believe in it more than those opposing forces, and in doing so stake your opinion about what the future you are going to live will be, I would not ask you to waste a moment of your life looking for us, because we are here to be found. We cannot count our coins as fast as they grow, but our collective efforts will be carved into the eternal stone of the Ethereum network, and I promise we’re going to give back all of these coins to the world, when we’re done fixing a few things.
But there is another problem, and its far worse than making “money” too fast - just as we are going to bet that no one goes to the moon until someone does every year forever just for fun, it is possible to bet on the absence of a war until a war exists because your certainty manifests it into being to spite you. The same market we hope to keep the world at peace, and put their fears to rest from the uncertainty of where we’re going next is also a mechanism to game our system, and bet on a war happening to get rich. But there is a way to stop this – we’re going to accumulate the majority of the REP tokens, and if we have 51% of the circulation, if someone tries to beat us at our own game and bring a war into existence – then we would be able to stop the unstoppable machine from making them rich. We will also have the wallet addresses of the people who needed the insurance policy we are going to unfairly deny, to make them whole, and they would have neighbors with means to support them while we unfucked the pooch. We would have a failsafe to prevent a war from coming to be, because we are so sure there will not be one that it might happen. This, above all else, will back the new currency we are going to issue to the planet. Our new currency will not be backed by gold, or equity, or faith in a flawed system. It we be backed by trust of mankind invested back into itself that we will not go back to a system that will tolerate scarcity, or war, or hunger in exchange for the certainty of the absence of these things. No one will need to ask what is in our vault, or need to audit it, until the day comes where maybe someone will try to beat us at our own game. If that happens – we’re going to need the world to give back the currency we gave it as our collective reward for our cooperation, to free the tool we need to stop violent men from becoming rich men at the cost of a world without poverty, because it will be the immutable collateral backing the currency we are going to give you.
As a disclaimer, Im not somebody who has the background you might think someone should have for this – Im just a hobbit. Im not a hedge fund manager, or a computer science engineer. I raise pigs, and ducks, and geese that need some help, too – because we aren’t eating them enough to keep them existing in our food supply. It is a more fun paradox than this, and I get to solve that one by cooking dinner for some friends, and telling stories when this adventure is over. It feels a little like The Shire there, where I’ve been hiding melting my ego with psychedelics in the sunshine while salting pork, and listening to podcasts from Rogan, Duncan, Bart Chystler, Tom and Krista, some tinfoil hat guys, and seeing how abundant a life can be given only a little bit of hopium and room for creativity, and Im eager to get there and back, again. I very much look forward to seeing what we’re all capable of, when we’re given a chance. But we’re going to have to put a little faith in a system that doesn’t need faith to operate - so that we can fix a different system that has never needed it more. I think we’re going to be able to do that for us all, but I might very well be lying to you, and not know it yet – at least, that’s the plan.
Ironically, salting pork is what brought me to understand what is worth something, and what isn’t. When they used to talk about a “salary” or say that you were “worth your salt” was because all that you needed to live was enough salt to keep your meat from rotting when you cured it into bacon and hams at the end of the season. The salt’s value wasn’t while it was in the bag, it was while it was preserving your food when times were hard and things were scarce. In the modern time, a salary is what gets bigger when a emloyer make his employees poorer. Now, we have made laws to respect each other by race and religion and where who-sticks-what-where, but made it legal and standard to reduce someone’s value to an integer value of currency per moment in time, and the currency is backed by oppression of man-against-man (chicks, too). To increase your integer value per moment in time, that gain must come from another? Are we the only people who think this is inherently disrespectful to your fellow man even if you don’t call him a “fag” to his face like we used to when we were kids and it meant “I love you, man – but Im too afraid of being called gay to say it”.
In the present what is perhaps the most scarce of all, are places where you are free to be an animal at all, let alone places where you are free to be the lion you might be and not know it. We are so caught up in having agreed upon contracts so that we don’t get fucked, that we don’t have trust or honor that is held between lions when the zebra meat is abundant and they eat shoulder to shoulder without worry of each other. We live in a time where there is quite literally more deer on the planet than there has been in some time, and yet we imagine something would keep us as lions from preying on them in the real world. But, to us, as long as you are giving the animals fair chase, there is no time that feeding yourself as the king of the jungle is wrong, if you are hungry. And Im here to tell the people who think they can stop us, that we are giving you fair chase. We will be in every exchange on the planet soon, giving you chances to get on or off this train. And when you buy, it will be from us. When you sell, it will be to us. Your only safe market is the door out of here in ETH/USD and BTC/USD because we will not be selling our coins, only buying more. And every time you do anything other than leave your coins on the table, and take that worthless paper money with you, we will grow that much stronger. If you buy the coins we want, you will give us power in the real world. If you sell them, we will get them cheaper. When your fear or FOMO has sent you zigging… or for that matter zagging, one of my lions will catch you. We are not asking for your support by way of co-operation, we are asking for it by absence of resistance from a better world than this one. If you will not give us your coins, then we ask that you do not trade them. Keep the keys, or burn them and count them as your contribution without us knowing my band of pirates owes you a favor. Our only compromise is to remove them from circulation, as in this decentralized system, that is the only place we cannot reach them. But co-operation will get us there far, far sooner. To quote a most wise computer scientist, “Resistance is futile, you will be assimilated.” We have re-programmed the Kobayashi Maru. My fellowship and I have set out for Mount Doom. And you will be skeptical of us, all the way until you aren’t. And then, I would ask for only your belief – perhaps in no one more then yourselves, that you could be the type of person to rise to a challenge that will face us that we haven’t seen yet. But maybe you can rise to face the challenges that have always been faced, by mother and fathers, and children – spending time together, eating real and wholesome food in good company as often as you can. Those challenges are the simple ones, and we have had the answer for longer than we’ve lost them. You just need to be worth your salt.
If you need someone with a stronger background to support my position, I cant give that to you right now, because Satoshi Nakamoto himself only 8 years of experience. But someone smarter than me said something that sent me down this road while I had smoked enough to dissolve the prison I had made for myself, and it might help you. You can watch it here:
https://www.youtube.com/watch?v=D1R-jKKp3NA
I am the son of this good, good, man - who cannot or will not believe this is possible. https://www.linkedin.com/in/peterhchapman/ I am the grand son, of this grand, old, man https://en.wikipedia.org/wiki/Philip_K._Chapman I am perhaps the longest living descendant of an unbroken chain of criminals and explorers on the planet, and I have some new ground to break to give those great men a complex.
My father is the former CEO of Ray Kurzwiel's largest portfolio holding (who first conceptualized the singularity). He now works a few steps away from Jeff Bezos. And if you do not believe me, dont worry, because he didnt get past the first paragraph of this story before telling my I had left a bread-crumb trail of crime to my door.
But I have melted my ego time and time again under the simmering heat of psychedelics, standing alone in a field with pigs, but also in the company of minds longing to break free when they tune into this podcast. And time and time again when I have nothing of an ego to call my own, I cannot shake the feeling that I am the chance event needed to occur within an economic engine that must break so it can be rebuilt better. Outside of the Duncan Trussel Family Hour, I think the Joe Rogan subreddit might be the largest and most public reserve of belief in things that have no reason to believe in aside from because they might work, and I am one of you.
I have no intention of allowing my father's disbelief to become the first gate keeper I have encountered that can keep me from asking Ray Kurzwiel to try to let us stake the Singularity into existence by betting it cant happen in our life time. I have no intention of letting my father stop me from asking Bezos to let me bet that no one will go to the moon, until someone rises to the occasion to prove him wrong.
I need your help, and this is as far as I've gotten, but I dont know if I can go further alone. I seek fellowship, on this quest, and I have come here to what is potentially the Rivendel of our time - Reddit.
submitted by CompSciAppreciation to AWLIAS [link] [comments]

Keep an eye out for August 10th! That'll be a big day for Bitcoin

TLDR; CBOE may have a good chance of getting the BTC ETF approved by the SEC. The SEC has until August 10th 16th to approve or Deny the application. If approved, Q1 of 2019 is when the ETF is expected to launch.
As most of you probably know the CBOE has filed to list BTC as an ETF with the SEC. What this means is that BTC will end up accessible to traditional investors and can be purchased on traditional investment platforms. It is very likely, in my opinion, that they will get the a-okay from the SEC to list BTC as an ETF.
Why do I say this? Well let's look at the history.
- In 2014 the Winklevoss Twins tried to file a BTC ETF with the SEC
- In 2016 we had SolidX that tried to file a BTC ETF with the SEC
- In 2017 we had the NYSE file for a BTC ETF with the SEC
- Also in 2017 we had the CBOE launch BTC futures
- Lastly, in June of this year we had the CBOE file for a BTC ETF with the SEC where the ETF is "being offered through the VanEck SolidX Bitcoin Trust - a joint venture between financial firms VanEck and SolidX"
So why haven't any of these ETF's seen the light of day? The answer can be explained by this refreshing piece of journalism "In March 2017, the US SEC claimed that the Winklevoss ETF proposal was rejected because Bitcoin, as a digital asset, was not regulated properly overseas without proper regulatory frameworks in place. The agency also noted that there lacks insurance around cryptocurrencies.".
So regulatory frameworks and insurance have been the two biggest obstacles in the way of the SEC approving the ETF. Luckily for us, cryptocurrency is a global affair and we're noticing more Anti-Money Laundering (AML) policies and standards of security. Additionally, overseas markets like Japan and South Korea arguably have better regulatory frameworks than the US, with Japan leading the G20 in creating an international standard for crypto regulation.". Unfortunately for the SEC, crypto is global and I have no doub that they are fully aware that slacking on crypto regulation and acceptance = losing out on billions of dollars - but more importantly losing global economic leverage. I have no doubt in my mind all countries which are late to the crypto game will find themselves becoming a 2nd world country, in a relative sense.
Anyhow, back to the CBOE and SEC. The CBOE is a company with a market cap of $11b. If, obviously rich and well connected, people of an $11b company, which has existed since 1973, decides that spending the time and energy to investigate, create, modify, and go through all legal and regulatory frameworks to file a BTC ETF with the SEC - where rejections have been hot since 2014 - They know what they're in for. This isn't some team of plebs working on some sort of maybe. This is a team of who knows how many professionals, for sure getting paid big bucks (and maybe even having their jobs on the line), cumulatively deciding that even though the SEC has rejected BTC ETF's in the past, their application may have a shot.
Why is the CBOE application different? Well, aside from the increased regulatory processes crypto has gone through, on a global dimension ; the CBOE has stated that their BTC ETF will be INSURED. That right there is a big deal! This means if the CBOE gets hacked, it isn't some Mt.Gox or bitgrail situation where people are out millions... That simply won't matter to ETF investors. I would also argue that running BTC futures without much of a hitch, will make things easier for the SEC to pass this CBOE BTC ETF (but that's just my opinion).
If/when this happens the ETF is expected to go live in the first quarter of 2019. I don't expect much to happen until then (at least in the Western Crypto space in which I am most familiar with). Lastly, the whole reason for this post is that August 10th of this year is the rumored date for the SEC to approve or deny the application August 16th is the date rumored for the SEC to make their decision , so that'll be a big day for BTC. The SEC states that they make a decision 45 days after a request.
What I am very curious about is that if the crypto market keeps moving upwards towards that date, the challenge will be trying to figure out if its us retail investors buying the rumors or if well connected individuals are buying the future news.
**If I am talking bs or made mistakes in this post please call me out on it. That's how we all learn. Thanks! **
Edit : I am wrong about August 10th. The date to look out for is August 16, according to this post
submitted by Tkldsphincter to CryptoCurrency [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Winklevoss Bitcoin Fund: Dumb Money or Good Idea? Gemini Exchange Cameron Winklevoss & Tyler Winklevoss ... Cameron and Tyler Winklevoss: Gemini, Exchange, Finance ... Gemini Exchange Winklevoss twins: Bitcoin 2020, Future of ... Winklevoss Twins Double Their Fortunes by Staying True to Bitcoin

Life after Facebook: New book ‘Bitcoin Billionaires’ redeems the Winklevoss twins by Molly Brown on May 25, 2019 at 3:00 pm May 25, 2019 at 6:46 am Comments Share 49 Tweet Share Reddit Email Cameron and Tyler Winklevoss will help produce a film based on the best-selling book that featured their entrance into the world of bitcoin.. As reported by Deadline on Monday, the twins will work with Stampede Ventures to turn “Bitcoin Billionaires” by Ben Mezrich into a movie. Stampede is an entity created by Greg Silverman, formerly Warner Bros.’ president of production, to fund Winklevoss twins plan $20m Bitcoin float The Winklevoss twins, famous for their feud with Mark Zuckerberg over Facebook, want to raise $20m by floating part of a Bitcoin trust. Online estimates of the Winklevoss twins’ fortune vary widely, given that Bitcoin’s value has fluctuated wildly in recent years. A 2018 crypto crash wiped them out of billionaire status. Winklevoss twins' $20m plan to make Bitcoin mainstream The Winkelvoss brothers' interest in Bitcoins is the latest in a string of online ventures since their involvement with Facebook. The

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Winklevoss Bitcoin Fund: Dumb Money or Good Idea?

July 2 (Bloomberg) -- The Winklevoss twins are looking to create an exchange-traded fund for the online currency Bitcoin. Their company, Math-Based Asset Services LLC, filed forms with the U.S ... How the Winklevoss twins from the Facebook film 'The Social Network' became Bitcoin billionaires - Duration: 8:08. CNBC Television 2,756 views The Apple Master Plan. ... The School of Life Recommended for you. 11:46. The Winklevoss Twins Eat, Sleep, and Breathe Bitcoin ... Cameron & Tyler Winklevoss - Gemini, Bitcoin, JP Morgan, ETH 2.0 ... May 12 -- Cameron and Tyler Winklevoss, Gemini Trust Company co-founders, discuss their bitcoin exchange and the future of cryptocurrencies. They speak with Bloomberg's Erik Schatzker at the SALT ... winklevoss twins is a gemini created in tyler winklevoss following the gemini cryptocurrency exchange cameron winklevoss. It follows the winklevoss twins bitcoin set out in a bitcoin today by the ...

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