Below are notable difficulty adjustments when hash rate fell and block times become slower for Bitcoin.
26 Mar 2020 [difficulty adjustment -15.95%, avg block time 11min 54secs]. On the 28th price crashed from $6674 to $6138 ( -8%).
8 Nov 2019 [difficulty adjustment -7.1%, avg block time 10min 46secs]. On the same day price crashed from $9234 to $8783 ( -4.88%).
The next big adjustment was around Nov to Dec 2018 and there were 3 big adjustments with high block times.
19 Dec 2018 [-9.56%, avg block time 11min 3secs]
3 Dec 2018 [-15.13%, avg block time 11min 47secs]
17 Nov 2018 [-7.39%, avg block time 10min 48secs]
There was huge drop off starting on 14th Nov all the way to a bottom on 14-15th Dec ($6351 to $3288 around -48%).
Current situation: We are 1 day 10 hours from the next difficulty adjustment. Projected difficulty adjustment is -5.61% (https://fork.lol/pow/retarget), which could indicate a small dip. However, take note that the date of last adjustment was the 5th and the 3rd halving was on the 11th, between the 5th to the 11th there was increased hashrate from miners trying to mine the final week of 12.5btc that offset the really slow block times after the halving. Therefore it will be the next difficulty adjustment after the one on the 20th that will completely reflect the slower block times after the halving. Currently the median block time taken on the 17th was around 14min (-28.5% difficulty adjustment). For people who do not understand blockchain, basically with the Bitcoin 3rd halving, mining profitability fell for a lot of miners and they probably turned off their miners therefore the blockchain mining time became considerably slower which is reflected with slow transaction speed and higher fees as seen currently. Bitcoin sellers moving their BTC from wallet to an exchange are faced with slow transaction speed and therefore the sell pressure of BTC fell considerably which will attribute to the current price increase. There is a correlation between sell pressure and blockchain congestion (the size of the correlation is undetermined). There is going to be a race. A race between BTC price hiking high enough to attract more miners to reduce avg block times versus the closing window of roughly 2 weeks before the next difficulty adjustment. If the price does not jump high enough, the next difficulty adjustment in the first week of June could signal a huge dip. I am not an expert. I just did some research on the above and wanted to share with fellow Bitcoin compatriots so that we can tread with caution and not lose our shirts. I do not plan to short BTC but I will exit my BTC positions if I expect double digit negative difficulty adjustment in early June. Please visit the original post here https://www.reddit.com/Bitcoin/comments/gm23pe/warning_blockchain_difficulty_adjustment/ There are pictures in the original post as well as 2nd halving evidence with pics. I could not post pics here. If possible please upvote the original post, a lot of people downvote it. Not sure why people downvote it, maybe veterans attempting to hide information from newcomers to fleece them of their shirt. Update 1:>! As of writing, I have opened a small short position on Bitcoin. Stop loss around 10k, estimated take profit around 8500. The reason is because the difficulty adjustment in the next 20 hours, even though is just -5% roughly is still significant. I direct you to look into all the difficulty adjustments in the last 2 years and you will know how rare it is. The ones I caught were all listed at the very top of the post. Since it is my first time shorting BTC, I take this as a learning opportunity so that I will have some experience to face the bigger difficulty adjustment in the first week of June. Analysis into execution, even in failure I am happy.!< Update 2: The difficulty adjustment (DA) happened roughly 6 hours ago and the sell pressure from -6% DA did not seem to be affecting the market much. However, please take a look now at the estimation for the next DA. On https://bitcoin.clarkmoody.com/dashboard/ it is estimated to be -25%. On https://fork.lol/pow/retarget estimated to be -18%. On https://www.blockchain.com/charts/median-confirmation-time the median block time for the last day was 16.8min. My original proposition that the true DA of the halving can only be realized in the next DA stands and that it will be considerable. The increased sell pressure from that DA will be highly significant. That is why there is a race by current miners to get the BTC price up high enough to attract more miners to not have the DA drop too much. Update 3: Current BTC price at $9100 ( ~39 hours after DA). Then again BTC could have dropped from all sorts of reason. However the coincidence with the DA and with all the past DA is just too high to simply shrug off as irrelevant. Anyways past result cannot predict future ones, stay safe with the trading. Will no longer check on this post. References: Difficulty adjustment dates taken from https://btc.com/stats/diff Bitcoin graph history for price movement taken from coinmarketcap. Median confirmation time (block time) taken from https://www.blockchain.com/charts/median-confirmation-time Credits to people who assisted the analysis: kairepaire for pointing out faster block times between 5th-11th. babies_eater for https://fork.lol/pow/retarget moes_tavern_wifi for https://bitcoin.clarkmoody.com/dashboard/ Pantamis for https://diff.cryptothis.com/
Greetings, community! 👋🏻 Today we will tell you about the PYRK mining features in the unstable crypto world. 📉 The crypto market is not stable. However, unlike the stock market, the crypto market, especially individual coins, depends on the hype, rumors around them, and more. This contributes to massive purchases or sales of coins, price fluctuations, hype leads new miners, anti-hype - contributes to their outflow. 📈 Changing the number of miners affects the network load. A sudden increase in the number of miners leads to an increase in computing power, which makes mining too easy. A quick and sudden outflow of miners leads to a sharp increase in the complexity of mining. 📊 That is why PYRK decided to use the Multishield technology, originally developed by Digibyte. 🔗 Multishield is a "difficulty retargeting" method to maintain the "average" block timing, by automatically changing the complexity of mining on the network. The idea being that as there is more hash-power provided by the miners it needs to become harder and harder to find the blocks. ✔️ Pyrk has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier in order to maintain an approximate 90-second block timing. The original Bitcoin adjusts difficulty every 2016 blocks. However, MultiShield adjusts after each block, rather than once every 2016 blocks. ✔️ MultiShield is designed to drop the difficulty fast to ensure that the chain doesn't freeze. MultiShield was originally created to account for such wild fluctuations, so that the blockchain doesn't "freeze" when a large exodus of hash power occurs. It also means miners cannot flood a few consecutive blocks with a high amount of hash power and benefit from low difficulty, giving blocks near instantly one after another before traditional difficulty retargeting occurs. Find out more about PYRK mining solutions: https://www.pyrk.org https://preview.redd.it/ea17vbbk3ab51.png?width=1200&format=png&auto=webp&s=8472c6a89755d39845e5e901f698fe353c3fac21
Similarities and differences between Bitcoin and PYRK
Hello. 👋🏻 In this post, we will tell you about the similarities and differences between Bitcoin and PYRK. PYRK is a cryptocurrency based on Bitcoin, with additional features imported from both Dash and Digibyte. Improvements include triple algorithm Proof of Work with Multishield difficulty adjustment, Masternodes, Private Send, and a Community Fund. With plans for Simple Tokens. Similarities and differences between Bitcoin and PYRK solutions 📌 Difficulty retargeting Due to the volatility of the crypto market, the influx and outflow of miners in the network, destabilization of the blocking, and confirmation times can occur. For this, Bitcoin uses "difficulty retargeting". PYRK uses the same principle to solve this problem. PYRK has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier to maintain an approximate 90-second block timing. However, unlike Bitcoin, PYRK adjusts difficulty after each block, rather than once every 2016 blocks, thus being more flexible and stable. 📌 Masternodes Just like Bitcoin, PYRK also uses masternodes. Masternodes are all paid from generated block rewards. The Masternode rewards start at block 10,000 and the master node network receives 20% of the block reward. At block 100,000, the reward goes up to 30%, however, the collateral also goes up at block 100,000 to 2500 PYRK. 📌 Having A different approach to restricting the inflation of mining is taken in Pyrk, using a 20% reduction of the supply every 200,000 blocks. This is done as opposed to 50% halving implemented by Bitcoin and thus reduces the initial shock impact of a halving event. 📌 Simple Tokens A future improvement planned for PYRK is Simple Tokens. This is similar to the SLP (Simple Ledger Protocol) used by Bitcoin Cash. There are, however, some issues with their implementation that we would like to improve on. Read about PYRK improvements and solutions here: https://www.pyrk.org https://preview.redd.it/4bp0mb7sdi551.png?width=1200&format=png&auto=webp&s=66ab1efd9e23408993e688fb53bbb651bf0fdbb9
Warning: Blockchain difficulty adjustment affecting price movement
Below are notable difficulty adjustments when hash rate fell and block times become slower for Bitcoin.
26 Mar 2020 [difficulty adjustment -15.95%, avg block time 11min 54secs]. On the 28th price crashed from $6674 to $6138 ( -8%).
8 Nov 2019 [difficulty adjustment -7.1%, avg block time 10min 46secs]. On the same day price crashed from $9234 to $8783 ( -4.88%).
The next big adjustment was around Nov to Dec 2018 and there were 3 big adjustments with high block times.
19 Dec 2018 [-9.56%, avg block time 11min 3secs]
3 Dec 2018 [-15.13%, avg block time 11min 47secs]
17 Nov 2018 [-7.39%, avg block time 10min 48secs]
There was huge drop off starting on 14th Nov all the way to a bottom on 14-15th Dec ($6351 to $3288 around -48%).
Current situation: We are 1 day 10 hours from the next difficulty adjustment. Projected difficulty adjustment is -5.61% (https://fork.lol/pow/retarget), which could indicate a small dip. However, take note that the date of last adjustment was the 5th and the 3rd halving was on the 11th, between the 5th to the 11th there was increased hashrate from miners trying to mine the final week of 12.5btc that offset the really slow block times after the halving. Therefore it will be the next difficulty adjustment after the one on the 20th that will completely reflect the slower block times after the halving. Currently the median block time taken on the 17th was around 14min (-28.5% difficulty adjustment). https://preview.redd.it/ysnv85wh0lz41.jpg?width=597&format=pjpg&auto=webp&s=e130b077f9dc2fc9d02666ef89e6f9249a05f535 For people who do not understand blockchain, basically with the Bitcoin 3rd halving, mining profitability fell for a lot of miners and they probably turned off their miners therefore the blockchain mining time became considerably slower which is reflected with slow transaction speed and higher fees as seen currently. Bitcoin sellers moving their BTC from wallet to an exchange are faced with slow transaction speed and therefore the sell pressure of BTC fell considerably which will attribute to the current price increase. There is a correlation between sell pressure and blockchain congestion (the size of the correlation is undetermined). There is going to be a race. A race between BTC price hiking high enough to attract more miners to reduce avg block times versus the closing window of roughly 2 weeks before the next difficulty adjustment. If the price does not jump high enough, the next difficulty adjustment in the first week of June could signal a huge dip. I am not an expert. I just did some research on the above and wanted to share with fellow Bitcoin compatriots so that we can tread with caution and not lose our shirts. I do not plan to short BTC but I will exit my BTC positions if I expect double digit negative difficulty adjustment in early June. Bitcoin 2nd halving evidence: 2nd halving falls between the 5th and the 19th adjustment so it is only reflected on the 3rd of Aug difficulty adjustment ( -5.43%). See the dip on the 3rd of August. Price fell from $600 to $533 about 11% drop. Update 1:>! As of writing, I have opened a small short position on Bitcoin. Stop loss around 10k, estimated take profit around 8500. The reason is because the difficulty adjustment in the next 20 hours, even though is just -5% roughly is still significant. I direct you to look into all the difficulty adjustments in the last 2 years and you will know how rare it is. The ones I caught were all listed at the very top of the post. Since it is my first time shorting BTC, I take this as a learning opportunity so that I will have some experience to face the bigger difficulty adjustment in the first week of June. Analysis into execution, even in failure I am happy.!< Update 2: The difficulty adjustment (DA) happened roughly 6 hours ago and the sell pressure from -6% DA did not seem to be affecting the market much. However, please take a look now at the estimation for the next DA. On https://bitcoin.clarkmoody.com/dashboard/ it is estimated to be -25%. On https://fork.lol/pow/retarget estimated to be -18%. On https://www.blockchain.com/charts/median-confirmation-time the median block time for the last day was 16.8min. My original proposition that the true DA of the halving can only be realized in the next DA stands and that it will be considerable. The increased sell pressure from that DA will be highly significant. That is why there is a race by current miners to get the BTC price up high enough to attract more miners to not have the DA drop too much. References: Difficulty adjustment dates taken from https://btc.com/stats/diff Bitcoin graph history for price movement taken from coinmarketcap. Median confirmation time (block time) taken from https://www.blockchain.com/charts/median-confirmation-time Credits to people who assisted the analysis: kairepaire for pointing out faster block times between 5th-11th. babies_eater for https://fork.lol/pow/retarget moes_tavern_wifi for https://bitcoin.clarkmoody.com/dashboard/ Pantamis for https://diff.cryptothis.com/
This might be old news for you, but after getting used to looong BTC and ETH transfer times I was shocked by Digibyte. I wanted to transfer from Bittrex to a wallet, and tested the process with 1 DGB. I went to fill up my glass with water, and when I returned it was completed. "This must be because it was just 1DGB" I said. After confirming the transfer was successfull, I went ahead and transferred all my DGB to that wallet. This time I used a stop watch. 58 seconds. I almost couldn't believe it. Now if coinbase could just add DGB, I would be golden.
Professor of Computer Science: "If the coin does split, the two coins will be identical, except that one will have a slow block rate..."
"If the coin does split, the two coins will be identical, except that one will have a slow block rate, 1 MB blocks, and force the users to engage in the the "fee market" auction; whereas the other will provide 10 minute average conf delay for all transactions that pay the posted min fee, will allow transactions to be signed offline in advance and then issued with fire-and-forget, among other perks. Which version will be more likely to retain most of the price?"
MVF clients successfully perform first hard-fork on BFGtest network
Today the MVF clients BFGtest network successfully executed a first spin-off hard fork. The story is somewhat amusing, because this was not entirely intentional, yet according to specifications :-) Here's what happened: On the MVF clients, the SegWit (BIP141+BIP147) soft-fork activation is configured to start on January 1 2017 for the BFGtest net. (partly because I was unsure what happens when a BIP start date is earlier than a genesis block date, and partly to give the "artificial SW activation" some more time on BGFtest net. Background info: MVF clients do not implement full SegWit, they only understand the BIP9 version bits and are configured to react by hard-forking when the soft-fork on bit 1 (SegWit) activates. So after the first difficulty retargeting period at block 2016, all peers (both MVF-BU and MVF-Core client types) started signalling block version 0x20000003 on every block , indicating support for the defined soft-forks including SegWit. They merrily carried on signalling in this way through the second retargeting period, locking in SegWit, and when the third retargeting came at block 6047, they decided that all BIP9 soft-forks had been successfully activated and that it was also time to hard fork now, according to the requirements :-) So we can report that triggering the hard fork upon SegWit activation works. Actually, I already knew this from executing the automated regression tests, but we've never done it on a public testnet. After the HF activated, difficulty retargeting as per the fork code kicked in, with difficulty being recalculated on every block initially. As expected, the difficulty went up quite dramatically. Prior to the fork, the difficulty had been very low, and slow to react since it only adjusted every 2016 blocks, which translated into several hours instead of weeks because of the low starting difficulty on the testnet. We have also tested briefly that post-fork, a transaction created by an MVF-BU client with "forkid" of 0x777000 is not accepted by an MVF-Core client with forkid=0x555000. A forkid, which we should perhaps rename to "chain id", is a magic number which gets mangled into the tx signature to make it different across forked chains. forkid=0 corresponds to signatures which are unchanged from current Bitcoin, i.e. would be valid signatures on the unforked chain and thus allow for replay. I'll try to extract some of the data from our run (e.g. block times, difficulty etc) into graphical form. We have no public block explorer for our testchain yet, although one participant is looking at some options. Nevertheless, if someone has experience in setting them up, I'd be happy to hear from you. For those who would like to join our test network for future tests but have not yet contacted us: Please join our chat to get the ball rolling!
0xBitcoin (0xBTC) is the first mineable ERC20 token on Ethereum. It uses mining for distribution, unlike all previous ERC20 tokens which were assigned to the contract deployer upon creation. 0xBTC is the first implementation of the EIP918 mineable token standard (https://eips.ethereum.org/EIPS/eip-918), which opened up the possibility of a whole new class of mineable assets on Ethereum. Without any ICO, airdrop, pre-mine, or founder’s reward, 0xBitcoin is arguably the most decentralized asset in the Ethereum ecosystem, including even Ether (ETH), which had a large ICO. The goal of 0xBitcoin is to be looked at as a currency and store of value asset on Ethereum. Its 21 million token hard cap and predictable issuance give it scarcity and transparency in terms of monetary policy, both things that Ether lacks. 0xBitcoin has certain advantages over PoW based currencies, such as compatibility with smart contracts and decentralized exchanges. In addition, 0xBTC cannot be 51% attacked (without attacking Ethereum), is immune from the “death spiral”, and will receive the benefits of scaling and other improvements to the Ethereum network.
GETTING 0xBITCOIN TOKENS
0xBitcoin can be mined using typical PC hardware, traded on exchanges (either decentralized or centralized) or purchased from specific sites/contracts.
or Traded OTC on the 0xBitcoin Discord or wherever traders see fit. ~more listings are in the works. Feel free to suggest 0xBTC to your favorite exchanges!
MINING IN A NUTSHELL
0xBitcoin is a Smart Contract on the Ethereum network, and the concept of Token Mining is patterned after Bitcoin's distribution. Rather than solving 'blocks', work is issued by the contract, which also maintains a Difficulty which goes up or down depending on how often a Reward is issued. Miners can put their hardware to work to claim these rewards, in concert with specialized software, working either by themselves or together as a Pool. The total lifetime supply of 0xBitcoin is 21,000,000 tokens and rewards will repeatedly halve over time. The 0xBitcoin contract was deployed by Infernal_Toast at Ethereum address: 0xb6ed7644c69416d67b522e20bc294a9a9b405b31
MINING IN MORE DETAIL (Gee-Whiz Info)
0xBitcoin's smart contract, running on the Ethereum network, maintains a changing "Challenge" (that is generated from the previous Ethereum block hash) and an adjusting Difficulty Target. Like traditional mining, the miners use the SoliditySHA3 algorithm to solve for a Nonce value that, when hashed alongside the current Challenge and their Minting Ethereum Address, is less-than-or-equal-to the current Difficulty Target. Once a miner finds a solution that satisfies the requirements, they can submit it into the contract (calling the Mint() function). This is most often done through a mining pool. The Ethereum address that submits a valid solution first is sent the 50 0xBTC Reward. (In the case of Pools, valid solutions that do not satisfy the full difficulty specified by the 0xBitcoin contract, but that DO satisfy the Pool's specified Minimum Share Difficulty, get a 'share'. When one of the Miners on that Pool finds a "Full" solution, the number of shares each miner's address has submitted is used to calculate how much of the 50 0xBTC reward they will get. After a Reward is issued, the Challenge changes.
HOW DIFFICULTY ADJUSTMENT WORKS
A Retarget happens every 1024 rewards. In short, the Contract tries to target an Average Reward Time of about 60 times the Ethereum block time. So (at the time of this writing): ~13.9 seconds \* 60 = 13.9 minutes If the average Reward Time is longer than that, the difficulty will decrease. If it's shorter, it will increase. How much longer or shorter it was affects the magnitude with which the difficulty will rise/drop, to a maximum of 50%. * Click Here to visit the stats page~ (https://0x1d00ffff.github.io/0xBTC-Stats) to see recent stats and block times, feel free to ask questions about it if you need help understanding it.
Presently, 0xBitcoin and "Alt Tokens" can be mined on GPUs, CPUs, IGPs (on-CPU graphics) and certain FPGAs. The most recommended hardware is nVidia graphics cards for their efficiency, ubiquity and relatively low cost. As general rules, the more cores and the higher core frequency (clock) you can get, the more Tokens you will earn!
Mining on nVidia cards:
Pascal (GTX 10x0) cards are usually the best choice due to their power efficiency. Maxwell-Generation 2 (GTX 9xx) cards are also a good choice and are often great overclockers, but they use more powegenerate more heat. Any fairly-recent nVidia card supporting CUDA should be capable of mining Tokens. It's possible to mine in OpenCL mode on nVidia devices, but It is preferable to use a CUDA for substantially better performance. (See Mining Software section.)
Mining on AMD cards:
AMD GPUs are quite capable of Token mining, though they can't achieve quite the same performance that nV/CUDA GPUs can at this time. Because of their typically-high memory bandwidth (especially cards with HBM/HBM2), it is possible to mine 0xBitcoin/ERC918 Tokens alongside a Video Memory-intensive algorithm like Ethash or Cryptonight! (See Mining Software section.)
Mining on IGPs (e.g. AMD Radeon and Intel HD Graphics):
This type of GPU is considerably less powerful than a discrete GPU, but is still capable of mining. They can supplement hashpower from other devices. The best performance should come from a chip with a larger number of Shader cores (like a Zen-based APU), but even typical Intel IGPs can submit shares and earn Tokens. (See Mining Software section.)
Clocks and Power Levels:
The algorithm used for 0xBitcoin and Alt-Token mining uses the faster memories in a GPU core instead of Video Memory. As a result, it is advisable to underclock the Memory, which will save a little power, reduce memory temperature and sometimes enable the GPU core to hit higher clock speeds with stability. A card's Power Limit and Core Voltage can be tweaked to attain the best efficiency for individual cards. ~Pascal cards (like GTX 10x0) are generally more temperature-sensitive when overclocked. Reducing Core temperature can often stabilize higher overclocks better than adding voltage can. Maxwell-Gen2 cards (like GTX 9xx) can usually be overclocked further at higher temperatures.
V4.x versions are a near-total 'Modern' C++ rewrite/redesign for 64-bit Windows, built for speed, ease-of-use and stability. It supports nVidia/CUDA devices and Pool Mining. Solo/CPU mining both planned. Features a fully-integrated GUI, numerous optimizations assembly functions for speed (nicknamed 'Hashburner'), and supports multiple GPUs running in a single instance since v4.1. Auto-Donation/devfee of 1.5% (default of 1.5%.) Under active development!
A fork of 0xBitcoin-Miner designed for enhanced speed and less invalid shares at the Pool level. It is somewhat older and is built using a combination of NodeJS/C++/CUDA. It has versions available for 64-bit Windows and Linux and runs from a command-line interface. Comes in multiple versions with 1, 1.5 or 2% "Auto-Donation"/devfee. Not under development at this time, but still relevant.
A Command-Line Interface miner that aims to provide functionality similar to that of "CCMiner" for other algorithms for 0xBitcoin and other ERC-918s. As such, it offers an API for integrating with Mining management software and integration with HiveOS & EthOS. It also supports OpenCL devices (such as AMD cards and Intel IGPs.) Has a minimum Auto-Donation/devfee of 1.5% (with a default of 2.0%.) Under active development!
AIOMiner is an All-In-One GPU Mining software for Windows that boasts support for over 55 different algorithms, is free to use, and eliminates the need to configure batch files through its easy to use interface.
TokenMiner is based upon Genoil Ethminer and was the first to add support for OpenCL devices (AMD GPUs/APUs.) It supports CPU and Pool/Solo mining from its command-line interface (in -C or -G, -S or -P modes.) It can also mine on nVidia/CUDA cards (in OpenCL mode, albeit with lesser performance.) Has a 1% "devfee" running in Pool Mode. This miner has since been forked for compatibility with some FPGAs!
v2.10.4 is an enhancement of the original 0xBitcoin-Miner with CUDA support added by Mikers and enhanced by Azlehria. "Nabiki" is a C++-only version, with no NodeJS code, which supports Pool Mining (just not Solo) and works on Windows 64-bit and Linux. Source code is available with pre-packaged binaries and a GUI in the works. Has a 2.5% "devfee". Under active development!
~Older Miners: Older and possibly-unsupported miner versions can be found at the above link for historical purposes and specific applications- including the original NodeJS CPU miner by Infernal Toast/Zegordo, the '1000x' NodeJS/C++ hybrid version of 0xBitcoin-Miner and Mikers' enhanced CUDA builds.
FOR MORE INFORMATION...
If you have any trouble, the friendly and helpful 0xBitcoin community will be happy to help you out. Discord has kind of become 0xBTC's community hub, you can get answers the fastest from devs and helpful community members. Or message one of the community members on reddit listed below.
Ritocoin - a 100% community driven project based on Ravencoin
tl:dr: Ritocoin is a code fork of the Ravencoin codebase and continues to track future Ravencoin developments. The project was launched to provide a more community-oriented blockchain with the same functionality as Ravencoin, without a corporate overseer, and with a more flexible model for community participation and development. It’s intention is to be a hacker’s playground for innovative ideas. Specifications Proof-of-Work Algorithm: X21S Block Time: 60 seconds POW Block Reward: Smooth curve down Community fund: 1% first year Difficulty Retargeting: DGW-180 Maximum Supply: 6 months: 993,521,892 RITO 1 year: 1,227,448,858 RITO 5 years: 1,762,210,058 RITO 10 years: 1,820,404,381 RITO 50 years: 2,030,907,256 RITO 100 years: 2,293,707,246 RITO Infinite: 10 RITO per block in perpetuity Pre-mine: None Masternodes: Researching for use case Asset layer: Was enabled at height 50,000 Links Website /ritocoin Explorer Github Whitepaper twitter [ANN] X21S This hashing algorithm was created specifically for Ritocoin, and was designed to resist FPGAs, ASICs, and NiceHash. It is X16S (16 algorithms shuffled and hashed),, followed by 5 additional hashing algorithms: haval256, tiger, lyra2, gost512, and sha256. The inclusion of lyra2 brings numerous advantages, making parallelization of the algorithm practically impossible, with each step relying on the previous step having already been computed. It is a “friendly” algorithm that makes GPUs produce much less heat and uses less electricity during mining. Take your time to learn more about us in the below story of Ritocoin... The spirit of Bitcoin continues to inspire, empower and enable people around the globe. Ten years later, just as it seemed Bitcoin was being defined by commercial agents and regulated governance, that same free and independent spirit imbued the Ravencoin community. In ten short months, however, 30% of the Ravencoin project’s net hash comes from NiceHash and the looming impact of the imminent FPGA mining cards and X16R bitstreams certainly promises to shake up the dream of this GPU miner’s darling. Ravencoin’s fair launch genuinely inspired our developers and supporters. We admire the way Ravencoin came out swinging — fighting for fairness, an honest distribution of coins and a place where GPU miners could thrive. The asset layer attracted many more miners and investors to the pools. Many Ritocoin enthusiasts came from the Ravencoin community, and continue their association with that project. The whole crypto ecosystem should appreciate the work begun by Ravencoin. Obviously they continue to inspire and motivate us to this day. It’s the reason we took action. We decided to start our own project which focuses upon at least two pillars of decentralized networks in the crypto space: community governance and a fair distribution of coins. It is a core belief throughout Ritocoin that in order to successfully develop and maintain this hacker’s playground — a place where a broad range of ideas could be tried and allowed to flourish — these two ideals must be allowed to drive and guide our community. This deep focus on community choices creates a project flexible enough to support most ideas, and agile enough to define new frontiers. A mining network’s distributed ledger is defined by its technology. Like many in the broader crypto-mining community, we value the GPU for its accessibility. These processors are available for purchase all around the world without any legal restrictions. GPUs are vastly more accessible for hobbyists and miners to acquire. They can be shipped nearly anywhere around the globe, a nice benefit to the popular secondary market which has sprung up much to the chagrin of PC gamers. More constraints exist for the ASIC and FPGA miner. Laws in some parts of the world restrict people from using or buying ASIC and FPGA mining hardware. This alone is directly in confrontation with Ritocoin’s core values of decentralized stewardship and sovereignty. The GPU, in essence, is like your voice. Anyone with the means of acquiring one GPU should be able to have their voice heard. ASIC and FPGA mining devalues the GPU miner’s voice and silos that coin’s network away from the small scale and personal mining operator. A truly community driven project means each stakeholder, regardless of size of contribution to the network’s net hash, has an opportunity to build, vote and direct. If you are already familiar with our website, discord or whitepaper, you are probably aware that masternodes had been proposed as a feature of the network from the beginning. This opened the door to ongoing discussions in the Ritocoin community regarding ● A masternode’s true purpose ● What benefit they provide to the project ● How the benefit is realized ● The collateral This discussion, governed entirely by stakeholders across the extended network yielded a defining moment for our vision of flexibility. We have not yet found the potential utility of masternodes, however, the conversation has not reached an extent to where we could abandon the idea. To quote one of our developers during this discussion on our Discord:
“Just want to give a reminder here that even though masternodes are on the roadmap, it is not set in stone. This coin belongs to the community and we will do what we as a community want to do. If we conclude that we want to take this coin a different direction than masternodes, then that is what we’ll do.” --traysi
We are all volunteers at Ritocoin. Our moderators and community leaders try to give immediate support to all users that require it. Contact us in Discord or Telegram, not only for support, but, proposing new ideas, revising old ones and just so you can find a place to get together and find people to hang out with. You are well within your rights to enjoy yourself at any given moment, and, should you feel so inclined to begin working with the team, we just so happen to be looking for ambitious individuals that see themselves as being part of a greater vision, are inspired by change, and inspired to be the change they want to see making things better in this world. Join us in a space where your ideas to build something great can become a reality. We are eager to know what you think is best for the future of Rito. What steps would you take to become more resilient, stronger, fair and decentralized? Because at the end of the day, like it or not, love it or leave it.. this is your coin, too. You can become a significant part of this project. We will help you further develop the role you wish to fill in the cryptocurrency space — influencer, developer, analyst, you name it. This is not a just-for-developer’s playground. We want the enthusiasts. We want the perplexed and the rabbit-hole divers. This is the coin for everyone who is trying to find their place on the path that Satoshi began unfolding in 2008 after the collapse of the housing market rippled out into the subsequent crash of global markets. That’s why we have Bitcoin, remember? Be your own bank. This is why Satoshi and Bitcoin.org kept their software open source. It’s up to us to keep the torch ablaze. Community funds For the first year, about 1% of mined coins are set aside into a developers fund that is used to provide bounties to the community developers who make substantial development contributions to the Ritocoin ecosystem. We have already paid out numerous bounties for important work that has already benefits Ritocoin in substantial ways. We also have another donation-driven community fund that has recently been put together for the purposes of doing fun contests and things like that. Cooperation and collaborations We have discovered a number of fatal flaws in the original Ravencoin codebase and worked with the Ravencoin developers to get those fixed in both Ritocoin and Ravencoin. This work has benefitted Ravencoin in numerous ways and we look forward to a long time of collaboration and cooperation between us and them. Many members of the Safecoin team are also in our discord group, and have collaborated with us in shaping the future decisions of Ritocoin. We have several thousand members in our group and they represent all walks of cryptocurrency life. We invite all coin developers, miners and enthusiasts to join our discord and be a part of this coin that truly belongs entirely to the community. Block reward A couple weeks ago we met for a scheduled meeting in our discord group and had a lengthy conversation about the block reward. Our block reward started at 5,000 RITO per block (every 60 seconds) just like Ravencoin. This extremely high number of coins coupled with the high profitability of mining led to unforeseen consequences with pools auto-exchanging the coin into bitcoin. This dumping by non-community miners had a very negative impact on the community sentiment and morale, as we watched the exchange price plunge. We looked at other coins and realized that this fate has befell many other coins with high block rewards. Following much discussion, we decided to change the reward structure. Starting around March 19th the block rewards will start to slowly go down in a curve until it reaches 1,000. Then the reduction will be even more slowed down with block rewards exponentially dropping at periodic intervals. We have posted charts on our website that shows what the long-term effects of our reward reducing algorithms will be. As a miner, the next 2 months will be a great time to mine and hold, while the block reward is still fairly high. We encourage all miners and cryptocurrency enthusiasts to take advantage of the current favourable block reward and build a nice holding for yourself. Then join the community and be a part of the fun we’re having with this project. This post was prepared by a collaboration of multiple Ritocoin members and was posted to reddit by the core developer Trevali, who posts to reddit under the ritocoin username and will be very happy to answer any questions anybody may have about our project. Traysi (well known in the Ravencoin community) is also an active Ritocoin developer and may come to this thread if needed. We welcome any questions from any of you regarding our project!
The Segwit opens up new possibilities like the Lightning Network,Tumblebit, Schnorr Signatures,_Confidential Transactions, Cross-chain atomic swaps, and so on.We are alreadyexploring all these new functions, and testing the water.We expect the first implementations as fast as possible.
“TimeTravel10”, that actually bases on 40320 different combinations of hashing algorithms and that easily can be extended_to 362880, 3628800 or even more,lets miners travel through time throughthem or through them through time.
If there's one thing we can all agree on it's that the many echo chambers of the cryptosphere do nothing to help curb the parroting of unnecessary fear, uncertainty, and doubt spread by those who even might think they're doing some kind of service by it. Litecoin Cash is no exception to this rule, in fact they might even be more in the hot seat due to their controversial name and the timing of the fork. Let's take a look at some of the recent issues people keep bringing up and try to address them reasonably. (Preface: I'm just someone who likes truth and due diligence, I have no affiliation with Litecoin Cash) 1) "Litecoin Cash is a scam!"
Charlie Lee tweeted something like this out before the fork and that was apparently that for most folks but no one ever states HOW it's a scam, just that it IS one. The simple fact of the matter is that it's NOT. Why? Because they asked nothing of you, unlike an ICO where you are required to send funds to participate. In fact, the Litecoin Cash team has been VERY transparent about HOW and WHY you should move your coins first and then SAFELY participate in the fork. If you didn't follow the many many many directions and ended up losing your LTC then that is entirely your fault.
2) "There's only 1 exchange and it's locked! It's a scam!"
This one kills me. Yes, it's true Yobit was the first exchange to have LCC and yes, as of this post, their wallet is still locked down so we cannot deposit. This is not the fault of LCC it is the fault of Yobit, who has quite a history of lackluster performance and shady practices. Also, it IS currently possible to trade, deposit, and withdraw LCC at Meanxtrade, however the prices aren't near Yobit's so people are getting salty about "missing out on profits." Remember how these coins were free and cost you nothing? Relax, you're not losing any money plus they have stated numerous times that the other exchanges listed on the official website are currently in the process of configuring the wallet. These things take time, regardless of how quick you think YOU can do it.
3) "The dev team is never around and never responds!"
Highly untrue, perhaps you are looking in the wrong places for information? There is a very lively and active Discord channel which you can find listed on the official website. Join it, and ask your questions there. The dev team is regularly in the chat rooms but more importantly THEY HAVE DEVELOPMENT WORK TO DO so most of their time will not be wasted answering your questions that are likely already in a FAQ or posted somewhere to be easily found with a smidgen of due diligence.
4) "There's a Reddit post showing a Binwalk where there's discrepancies between the released binaries and the Github repo."
Litecoincash (dev team member btw) has refuted this already on both Discord and Reddit trying to attempt to recreate the issue unsuccessfully and has invited the entire community to try to reproduce the apparent fault. So far, no one can, so before you go believing ONE SINGLE POST's bad news, maybe double check on things for yourself and don't spread unverified information.
5) "Why is Roger the Uniorn anonymous?"
He actually answered that in the Discord. His job is in financial sector and frankly his involvement in crypto could compromise his career. The man has a family to feed and bills to pay too. Chill out. Who is Satoshi Nakamoto? Answer that, scientist.
6) "NO WHITE PAPER!!!! IT'S A SCAM!!!"
Please send me a link to Litecoin's white paper :)
7) "They took the name of Litecoin to confuse people!"
I'm a total Litecoin fan, I admit, but what ever happened to healthy competition in a marketplace? I do agree a unique name is a better alternative but I also think the trolling of Bitcoin Cash with this name is rather hilarious and poignant to these times. Yes Bitcoin Cash is trying to subvert Bitcoin, but the Litecoin Cash team has been nothing but supportive of Litecoin since their launch and don't seem to be doing anything malicious against Litecoin's marketing or adoption. I'm sorry but if you cannot distinguish between the two and buy the wrong coin maybe you were moving a little too quickly and need to rethink your investment strategies.
UPDATE #1 - QUESTION ADDED - 02/23/2018 @ 12:55 PM EST 8) ecurrencyhodler brought up a very good point regarding network safety via mining malpractice in the comments:
Please don't omit the biggest weaknesses of this project. If LCC is profitable at all, it will get rekt by powerful sha-256 miners. Blocktimes will be ruined and tx's won't get processed.
I will be the first to admit I'm not personally qualified to answer mining related questions as I've not delved that deep into that end yet, but I did raise this question to Tanner, one of the dev team for LCC who is often available in the Discord server. He replied with:
The issue is, people aren't used to seeing effective difficulty adjustment on sha256 coins, so they tend to assume that like BTC, the network can't react very quickly to changes in hashpower (BTC only adjusts the mining difficulty every 2016 blocks). That's much more of a problem on sha256 coins without effective difficulty retargeting. LCC uses DarkGravity, the difficulty adjustment algorithm from Dash, which recalculates difficulty every block to respond to changes in hashpower.
I will certainly be looking more in depth into the DarkGravity algorithm myself as I further my education on mining but hopefully this answer can at least satisfy those who were worried about overpowered miners harming the integrity of the network. Dash seems pretty successful so far, so there's got to be some merit to it, right? UPDATE #2 - QUESTION ADDED - 03/06/2018 @ 4:03 PM EST 9) "Yobit and the devs worked together in secret so they could all cash out the premined coins and win big!"
While it's a decent theory on paper it is provably untrue as 90% of the pre-mined coins are still sitting at their original wallet linked below. The 10% spent has been to go toward listing fees for future exchanges. (Hint: devs are smart people who wouldn't dare keep their valuable LTC coins on a shady exchange like Yobit haha)
You'll notice it starts out with 5,500,000 LCC coins. There's been a few transactions since the original premine deposit leaving ~4,745,463 LCC coins in the wallet. The numerous in/out transactions are simply payments and change deposits (i.e. You own 10 LCC, you pay 1 LCC but you actually send 10 LCC and receive 9 LCC back automatically). So only ~754,536 pre-mined LCC coins have been spent/sold/traded/etc. Just saying if any one of us were going to dump our pre-mined coins we had and cash out on everyone, we'd certainly go for more than 10% haha!
Aside from these there are complaints of wallet issues and other such things but frankly that's on the user as many have shown already the wallet works quite successfully. I, myself, had issues getting everything to sync and scan properly but I simply asked for help in the Discord and Tanner, the lead dev, was kind enough to help me and lo and behold his advice was correct and I now have my coins safe and sound. So there is some logic and calm arguments to refute a lot of this FUD being spread. I know a lot of people will still have issues with this post and that's fine, everyone is entitled to their own opinions but I've personally been involved in a number of coin forks and launches now and frankly this is one of the better ones with on time deliveries and plenty of communication. Stay safe out there, always double check your sources of information (including me please) and just think twice before you act once. Much love crypto fam! Oh and if you just want a place to dump your "useless garbage coin" I'll happily take them off your hands for you! Just send them here: CeNAjxEAja8hrdF1pzP4u3RHfStqhWYEyq (LCC)
Beginning to think operation dragon slayer might not just be a meme...
So this is the origin of operation dragonslayer. At first glance, it seems like Rob is just trolling. After all, why else would he place a big ass whiteboard behind him during a livestream that says something as ridiculous sounding as "operation dragonslayer". And as if to give it some legitimacy, he writes "cancel segwit 2x" above it, but this was four days after segwit 2x had already been cancelled. And of course 11/24 passed by uneventfully, so operation dragonslayer was nothing after all, right? But those same guys released another video today, and someone noticed that there was this view of slack at one point in the video. The slack messages say "yeah he's good with it and we're on schedule" and "I need you to send over that 31 BTC" and "Alright, the dump is almost ready." I looked up the address that that 31 BTC was allegedly sent to, and you can see that it contains $120 million worth of bitcoin31 BTC tx, which means that these guys aren't just messing around—they really have the ability to manipulate the market if they wanted to. It's also worthy to note that the guy who showed slack in the video seemed to do it by accident, as he alt-tabbed into slack, and alt-tabbed right out. Right after this, he laughed a bit nervously at the joke that was just said. Now of course it's possible that they were communicating off screen and planned the whole slack thing, but those slack messages were sent around 1:30 PM and the video occurred an hour before midnight. To add to the conspiracy, there's this 4chan post, which has this comment:
TRANSLATED: This is a message from an insider. I am a member of Chinese whale community. I cannot provide any proofs nor open my identity but I cannot allow myself to stand and watch for the greatest theft from poor and reputation destruction of blockchain based cryptocurrency to happen. I have been informed of major Bitcoin manipulation taking place in order to compromise Bitcoin security and reliability. A group of coordinated Chinese investors have a plan to pump Bitcoin to 10000 USD after which they plan on coordinated crash of Bitcoin to sub 1000 levels because they have already taken their fiat money out and replaced them with margin tether traiding. It will not cost them a dollar. They will push Bitcoin below the demand levels. The situation with Bitfinex and Tethers is legitimate but it is a distraction. Inflated amount of Tethers are not a source of money used for Pump. Bitcoin Cash is the source. For some reason community accepted 20 Billion dollar appearance out of thin air which is the market capitalization of Bitcoin Cash as the natural process. It is not natural. These artificial money are currently used to cash out Chinese investors and pump original Bitcoin to 10000 USD without taking any losses. Shortly after Bitcoin crash below 1000 USD they plan to introduce Bitcoin Cash as a true Bitcoin and necessary replacament which is not inflated and then reject Tether pairings. This is why Bitcoin Cash price is stabilized at 1000 USD as was price of original Bitcoin in January 2017. This is the operation Dragonslayer in it's final stage. They have created billion of dollars with Bitcoin hardforks and use Tether as a tool to artificially bump Bitcoin price cash out their money and coordinate total collapse.
Now this seems like it could have easily been made up, but BTC was $8k at the time of that post, and it has climbed to nearly $10k since then in just one week's time. The tether situation is also accurate. Furthermore, if you go back and look at that slack stuff from the youtube video, you can see that those guys are part of several Chinese slack channels. Coincidence? But what I think truly gives this conspiracy a backbone is this pastebin from last July. It predicted that segwit 2x would be cancelled and it has predicted BCH's current success. Whoever wrote this pastebin claimed to be an insider, and he/she also said that at some point that there's all of these whales and miners who are going to mass dump BTC while mass buying BCH, which is consistent with the notion of operation dragonslayer and consistent with the 4chan translation. And to add on to all of that, there's good reason to believe that BCH's price has been manipulated for a while, either to keep BCH from rising too quickly or too keep it from dying. Take at look at this BCH wallet. It contains $500 million worth of BCH. Coins have been added every day, and a single coin has never left the wallet. The fact that it has only ins and no outs suggests the wallet does not belong to an exchange, but to a group of whales. So why is this group of whales investing so much into BCH? Maybe they know what's going to happen? Something that we don't necessarily know? Of course one objection is that operation dragonslayer was supposed to happen on the 24th, but nothing happened. One theory could be that too many people knew about operation dragonslayer and that because bitcoin's difficulty adjusted upwards, it wasn't the right time. However, in 10 days, BTC's difficulty is expected to increase by 6.46% and that number will probably keep going up. This will also line up with BTC hitting the key mark of $10,000. It was also be more unexpected than if it had occurred on 11/24. Maybe this is just all wishful thinking, but these are my thoughts nonetheless. My current strategy is to hold BCH, because I don't think there's a lot of risk holding it, that is, it won't tank or anything, but if something big does happen like the flippening, I'll want to be holding BCH. If someone could figure out what those 64 character hashes were from slack in the youtube livestream, that would be great. I tried looking up several of them on block explorers for both bitcoin and bitcoin cash, but nothing showed up.
GoByte - MasterNode Coin GoByte (GBX) is a cryptocurrency based on Dash aimed at vendors to provide monetary services . GoByte features the masternode technology, which provides to the network near-instant and secure payments as well as anonymous transactions. The near-instant payments known as InstantSend technology, average at 1.3 seconds per transaction. The anonymous transactions known as PrivateSend technology, mix your funds trough the masternodes network, making near-impossible to trace back the origin of the funds. GoByte Network is a modular network based on the blockchain technology. The GoByte's modules are developed independently yet, they all have the same blockchain as a core, and work all together to create a fast and secure network. Thanks to the modular structure of the GoByte's Network, modules can be updated independently without causing errors or issues with other modules. Our developers are working tirelessly on bringing new and innovative modules to be merged later with the other modules of the network. Every module is developed by its own team lead by a Senior Developer, this way we offer to our developers a clean canvas to be filled by their own imagination. The first and biggest module of the GoByte Network is the "Pay" module, which acts as a payment gateway, central bank and cold wallet at the same time. The "Pay" module is the network's center support, working directly on the blockchain, being able to create and execute transactions which will later be confirmed by the masternodes and miners. Our project is not aiming to build the blockchain around the existing economy. We are aiming to create a new economy around the blockchain. The first step into building the GoByte Network economy is by providing liquidity and ways to acquire GBX coins. Therefore, a part of our current development team which has past experience into building, developing and maintaining bank ATMs that are currently being actively used around the word, have decided to build and develop our own ATMs and POS Terminals along with Card Reads and more. All of those devices will be directly linked to the GoByte Pay module which will attribute to the customers an identity and act as a central bank of the entire economic system. Allowing you to deposit, withdraw, perform payments, loan GBX coins, link or request GoByte Pay Debit/Credit cards to use with our ATMs, POS Terminals or CardReaders. In order to create a self-sustaining economical system, GoByte had implemented the Governance feature, currently found in Dash and more other cryptocurrencies. The governance feature allows to the masternode holders to vote, fund or reject proposals submitted by the community, from event sponsorships to acts of charity or developer bounties. By funding projects, the community can sustain the media/events appearance and even the development, without the reliance of a central development team. Specifications ◆ Algorithm NeoScrypt ◆ Block time 150 seconds ◆ Block Reward 15 GBX decreasing by ~15% every year ◆ Estimate Supply 31.8 Milllion ◆ Required 1000 GBX for Masternode ◆ Masternode 50-80% Block Reward ◆ Superior Difficulty Retargeting Using Dark Gravity Wave ◆ Superior Transaction Anonymity Using PrivateSend ◆ Difficulty retargets using Dark Gravity Wave ◆ 2.7% Premine*
GoByte, has a premine of only 2.7% that will be used only and only for airdrops, bounties, exchanges, and future projects like the Web Wallet, Android/IOS Wallets and much more.
Masternodes help keep integrity of network and enable support for Darksend and instant send. You need 1000 GBX to setup a masternode and start to earn rewards. RoadMap Roadmap GoByte Blockchain Start ◆ Launch Website (Done) ◆ Window, Mac and Linux Wallet Release (Done) Get listed on Exchanges ◆ CoinsMarket — Completed ◆ Stock.Exchange — Completed ◆ CoinsExchange — Completed ◆ Cryptopia — Completed ◆ CryptoBridge — Completed ◆ HitBTC — Completed ◆ TradeSatoshi — Planned ◆ Upbit — Planned ◆ Kucoin — Planned ===[Q4 2017]=== ◆ Genesis Block and initial launch — Completed ○ Announcement on BitcoinTalk.com since block 2 — 17 Nov 2017 ◆ Website Release — Completed ◆ Windows, Mac OS, Linux Wallets Release — Completed ◆ Listing on first 4 small/medium sized exchanges — Completed ○ CoinsMarkets.com — 18 Nov 2017 ○ Stocks.Exchange — 19 Nov 2017 ○ Cryptopia.co.nz — 22 Nov 2017 ○ CoinExchange.io — 04 Dec 2017 ◆ Listing on useful Crypto websites — Completed ○ CoinMarketCap.com — 20 Nov 2017 ○ Masternodes.Online — 21 Nov 2017 ○ CryptoCompare.com — 22 Nov 2017 ○ CoinGecko.com — 26 Nov 2017 ○ CoinRanking.com — 04 Dec 2017 ○ CoinHodler.io — 04 Dec 2017 ○ Masternode.Pro — 05 Dec 2017 ○ WhatToMine.com — 02 Jan 2018 ===[Q2 2018]=== ◆ Listing on decentralized exchanges [2/2] — Completed ○ BarterDEX — 05 Jan 2018 ○ Crypto-Bridge.org — 29 Jan 2018 ◆ Web Wallet — Completed. (integrated into "Pay" module) ◆ Android App — Under Dev. ○ Coinomi Multiwallet — 05 Jan 2018 ◆ IOS App — Under Dev. ◆ WhitePaper & Translation — Completed ◆ Dev. of "Pay" module — Under Dev. ◆ "Pay" module mobile apps — Under Dev. ◆ Listing on another 3 medium/big sized exchanges — Completed ○ HitBTC — 16 Apr 2018 ○ CoinSwitch — 04 May 2018 ○ IndaCoin Exchange — 17 May 2018 ===[Q4 2018]=== ◆ Electronics Shop — Planned ◆ Starting the development of the "Market" module — Planned ◆ Atomic Swaps/Exchange — Reconsidering ◆ Marketing and Awareness campaign — Under Revision ◆ Hiring PR team — Under Revision ◆ Attract Merchants — Constant ===[Q1 2019]=== ◆ Start dev. of POS Terminals — Planned ◆ Testing GBX payments on vending machines — Planned ◆ Starting development of the "Overwatch" module — Planned ◆ Starting development of the "Mint" module — Planned ◆ Start building cloud mining farm. Share profits among MasterNode owners — Planned ◆ Hardware wallets for GoByte tokens — Planned ◆ Attract Merchants — Constant ===[Q3 2019]=== ◆ Smart Contracts — Reconsidering ◆ Starting development of the "Social" platform — Planned ◆ Founding or Partnering with an academy for "GoByte Academy" — Planned ◆ Founding the "Blockchain Innovation of the Year" event with prizes — Planned ◆ Attract Merchants — Constant ===[Future]=== ◆ AI that maps data and cryptographs it into a blockchain ?? — Future ◆ Quantum Ressistance ?? — Future ◆ New Algo ?? — Future ◆ Moving to DAG ?? — Future Downloadshttps://github.com/gobytecoin/gobyte/releases/download/v0.12.1.3/GoByte_0.12.1.3_Windows64.ziphttps://github.com/gobytecoin/gobyte/releases/download/v0.12.1.3/GoByte_0.12.1.3_Windows32.ziphttps://drive.google.com/file/d/17lQ24gft63gC1ZZcljghau6LKTEmU4Sn/viewhttps://github.com/gobytecoin/gobyte/archive/v0.12.1.3.tar.gz Websitehttps://gobyte.network/
Note: Previously the Evolution Whitepapers were linked in this section. These papers were written back in 2015 and are outdated, because Dash Evolution has seen a massive re-design and has been developed much further than those papers could have predicted. A new version will be posted here and elsewhere as soon as it is available.
"Dash rebranded from Darkcoin to distance itself from its dark history!!" -> Not at all. Nothing about its history is "dark" and more importantly this thread called "The Birth of Darkcoin" is stickied by Evan Duffield himself on the official main forum.
Why saying "Dash is a company" is false: Dash Core Inc., a company based in Scottsdale, Arizona is not the decentralized network called Dash. The network, consistent of over 4.5k globally distributed, decentralized Masternodes decided to hire and fund the company Dash Core Inc. to develop said network. This is the distinguishing property of Dash being a DAO, so it's understandable people have difficulty grasping the concept. Similarly Dash does not have a CEO, while Dash Core Inc. -obviously- has.
Dash does not and never had a "dev tax": Dash has a Treasury and its distribution is being voted on each month. Only those funds that have been approved by the Masternode network go to proposal owners. The Treasury is capped at 10% of the accumulated block reward of one month. There is no central authority non-requested or non-approved funds go to and there never has been. Those funds are simply not created. So you can have months in which only 8% of the budget is being paid out, with the remaining 2% going to nobody due to not being mined.
"B-but Evan Duffield can roll back the last 24 hours of the blockchain with the flick of a button!" Complete bullshit. The key in question refers to requiring a Masternode to re-validate its pre-existing blockchain in order to ensure it's on the right chain. Masternodes have nothing do with putting or removing transactions into or from the blockchain, only the miners can do that, thus claiming someone can "roll back the blockchain" in Dash is a malicious lie and a desperate attempt to make Dash look centralized when it's not. In short: No such button exists, ever existed or will ever exist.
The Dash community is well aware that during most of its history this project has been under attack by competitors, many of which are trying to portray Dash (among many other things) as a failure. This is oxymoronic, because nobody hates on failures, especially not for 4 successful years in a row. If you want a quick history lesson, here's a comment I made on where the Dash hate originated from back in 2014 Another, longer history lesson Remain skeptical towards sensational accusations without evidence. Our community is helpful, knowledgeable and more than happy to answer any questions, as we have done many times on this subreddit. Still, we're all only human, have limited resources and we're just one project among many (always among the top, though!). Stakeholders and investors of other projects will always have an agenda to smear what they perceive as competition (I have yet to see our community actively go after other projects, though). Just remember the Bullshit Asymmetry: "The amount of energy required to refute bullshit is at least an order of magnitude larger than to produce it." So it would be very unjust to expect a refutation on the spot all of the time. Prefer taking the initiative by asking the community directly about the claim you're confronted with. This community has proven many times to possess the integrity required to admit to technological shortcomings, but at the same time we'll never hesitate to call out illegitimate claims and accusations, of which there are many, for what they are. The most common and most empty attack is "Dash is a scam".
Dash has surpassed its all-time high price several times
Its developers are publicly known, many by full name
It's still being developed after almost 4 years with an incredible track record of under-promising and over-delivering, a game-changing roadmap & a clear vision of the future
Its technology works as advertised and remains objectively superior to Bitcoin and many other currencies
Myriads of projects copied Dash's features
Look at the wealth of in-depth information linked on this page alone. Look at all the interviews, articles, news shows, podcasts, presentations, conferences, infrastructure, the people and all the money invested into all of this: Does this all really look like a grandiose scam? Why the effort?
More importantly you have to ask the critic just this one question: Who was scammed? The answer usually consists of complete silence or attempts to change the topic. This may sound all very defensive to someone who has never experienced the kind of FUD Dash has faced over the years, but the falsehoods we've refuted above are still being perpetuated by a very lonely but also very loud minority.
Not an ICO project
Regarding Dash's finances: Despite what many people assume influenced by the ICO insanity of the recent past, Dash did not have an ICO and Dash does not depend on 3rd party funding/investors. It is self funded from the blockchain and thus an entirely independent organization that does exactly what it wants, not what any angel investors want us to do. Dash is the first currency in history to achieve that.
Quick incomplete rundown of Dash's features
In fact Dash pioneered almost every single one of its features making it one of the most prolific innovators in the cryptocurrency space. Before Dash invented them, none of these features existed:
X11: power saving hashing algorithm
Dark Gravity Wave: highly reliable difficulty adjustment
Sporks: Multi-phased forking technology avoiding hard forks during network upgrades
Masternodes: Incentivized full node infrastructure through split of mining reward
PrivateSend: protocol level coin mixing without the flaws of CoinJoin
Treasury: Self-funding by splitting of block reward
Blockchain Governance: Voting rights for those who provide our network's backbone
Evolution platform technology: Under heavy development but making rapid progress towards true digital cash so user-friendly that even your grandmother could use it
To re-iterate a previous point: Dash has been copied by several dozen other projects either completely or through selected features indicating a strong approval of its technology within the wider cryptocurrency industry. The most copied feature by far is the Masternode system and the financial self-reliance it provides.
Greetings everyone. I am posting a draft of some of the sections of the new website. They are a work in progress and any input on this content or anything else you would like to see on the new site is appreciated! The website will be focusing on educating investors of all ability so that they can understand the crypto-currency markets and make wise decisions within them. Without this understanding, our markets will not be able to efficiently, and with confidence, allocate capital to the true pillars of this new economy. Note: Most of my updates can be seen directly here. I expect to have this completed by the weekend so that we can hopefully have the new site up and running. Even once up, there will be lots of work to do to really perfect it.
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Released in late June 2013, Cryptogenic Bullion was designed primarily with wealth preservation in mind. With its accelerated mining period, and fast declining inflation, Cryptogenic Bullion is now entering it’s final stage as an interest bearing, low inflation, cryptographic digital asset.
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What is Cryptogenic Bullion? - Cryptogenic Bullion is a peer-to-peer internet currency that enables instant payments to anyone in the world. Its fundamental specifications enable it to efficiently function as a store of wealth.
Energy and Cost Efficient - Our network requires far less energy than generating hardware-intensive proof-of-work hashes. Proof-of-stake also does away with the ~$1 billion “tax” on the Bitcoin network through proof-of-work blocks.
Higher Security - Maintaining the network through the hybrid proof-of-work/proof-of-stake algorithm reduces the risk of the Selfish-Miner Flaw, 51% attacks, Kimoto Gravity Attack and the block bloating that have been used to exploit other currencies.
Coin Specifications - Cryptogenic Bullion is based on a hybrid Proof of Stake / Proof of Work scrypt algorithm. It has a block interval of 60 seconds and retargets difficulty every 2 blocks. A reward of 1.5% interest is earned by those who maintain a savings of CGB, while 0.5% interest is earned by miners who also help to secure the network.
A Digital Asset - Cryptogenic Bullion is a digital asset with all of the properties of money. Like gold, it is portable, divisible, fungible, scarce, low inflation, durable, non-consumable, and a store of wealth. It can be stored in a private safe and yet transferred across the globe in minutes.
Get Involved - Our community is focused on empowering its members with the knowledge and resources required to quickly spread the benefits of Cryptogenic Bullion to new participants.
Updates and News Latest blog information, twitter feed, etc.
Investor Brief $___ USD/CGB Price $500,000 Market Cap B_____CGB/BTC Price 950,000 CGB Total Supply Last updated: X seconds ago
About CGB: Cryptogenic Bullion is a digital asset with all of the qualities of money. It is a descendant of Bitcoin, but employs an advanced security model which is more efficient and more secure than Bitcoin. The problems of today's debt based fiat currencies find solutions in cutting-edge decentralized cryptographic currencies like Cryptogenic Bullion. Designed to function as a store of wealth, CGB's fundamentals emulate the properties and supply of gold. While Cryptogenic Bullion shares many traits with Bitcoin such as fast global payments, decentralization, pseudo-anonymity, and non-reversible transactions, there are many improvements which allow CGB to more reliably store wealth. A critical requirement for storing wealth is a low inflation rate. Cryptogenic Bullion is a very rare exception in that it has nearly completed its volatile inflationary stage and settled into its maximum yearly inflation rate of 2%. It also allows prudent savers of Cryptogenic Bullion to earn up to 1.5% interest on funds left unspent in their wallets for at least 30 days. Crypto-currencies are finding support among a massive and diverse range of participants. For newcomers, a visit to one of the following pages would be beneficial depending on your current level of understanding and intention. Cryptogenic Bullion emulate the properties of gold, a classic safe-haven asset, and also represents a part of the movement towards a more fair and honest system of money. For more details on why and how, see the Fundamental Knowledge section. To quickly learn more about the crypto-markets, see the Investor Brief section. For analysing market dynamics, see the Market Fundamentals section. Specifications
Proof of Work/Proof of Stake Hybrid
Linear difficulty retarget (every 2 blocks)
60 Second block time
1.5% Annual interest earned
Subsidy halving after every 50k blocks until reward of 0.01
Target ~1,000,000 CGB
0.5% PoW & 1.5% PoS inflation
Based on Peercoin & Novacoin
Team: Fundamental Knowledge: In order to understand the need for cryptographic currencies like Bitcoin and Cryptogenic Bullion, we must consider a number of fundamental challenges with our current financial system, and the solutions that cryptographic currencies provide. The world's currencies are referred to as debt-based fiat currencies because they are not backed by a physical asset like gold, and can burden up to 30 participants with debt for each actual dollar in reserve, creating the potential for bank runs. It helps to realize that when a credit card is used to purchase something, dollars are created , and when you pay it off, dollars are destroyed. This scheme is referred to as fractional reserve banking and can not happen in a digital currency system without the owner's knowledge because the supply is strictly controlled by a decentralized protocol. We are beginning, as a society, to understand the dangers and inefficiencies found in centralized systems as corruptions and self destructive processes manifest themselves with no true remedy. As our society looks for answers, they are being found in technological advances which allow us to connect with each other in more meaningful ways which do not require a third party. Cryptographic currencies provide the convenience of cash, with neither the excessive centralized printing, nor the potential for censorship or sanctions which block the transmission of funds. A new economy is forming with various crypto-currencies attempting to fill different roles within the ecosystem. It is imperative that we capitalize these technologies through careful investment to allow for the necessary development which will enable them to be a major part of modern society. To quickly learn more about the crypto-markets, see the Investor Brief section. Trust in crypto-currencies must begin with a basic understanding of how the system functions and how to use it. Technology has existed for decades now which allow us to verify that a message was signed by an individual. This authentication technology is now used to prove that the holder of a private wallet has sent funds form that wallet to another. Keeping this key secret is the responsibility of each participant and this responsibility is the price for the freedom enabled by cryptographic currencies. Every transaction that has ever occurred is recorded in a distributed ledger which proves the current balance of all wallets in order to validate further transactions. Blocks created every 60 seconds containing all of the new transactions are added to the top of the block chain and further serve to set all previous blocks in "cryptographic" stone. For more details on how CGB's decentralized protocols provide trusted security and honest money, see the Papers and Articles section. In order to get a glimpse of what the future cryptographic currency ecosystem could look like we must accept that there are many different roles to fill, and it is difficult for one currency to efficiently fill all roles. A store of wealth, like Cryptogenic Bullion (CGB), must have a low inflation rate to preserve capital and reduce volatility. Stability can also be encouraged if the bearer is allowed to earn interest on savings stored unspent for a specified length of time. A currency, like Dogecoin (DOGE), must have a higher inflation rate to slightly exceed the adoption rate. This provides liquidity and encourages spending which furthers the expansion of the participant base. A market gateway, like Bitcoin (BTC), must also have a higher inflation rate to match adoption so that liquidity is maintained which enhances the access to each of its markets. The market gateway also insulates the cryptographic currencies and stores of wealth from the market fluctuations caused by volatile shifts in demand for fiat currencies vs. crypto-currencies as a whole. For more information on these dynamics, see the Market Fundamentals section. Frequently Asked Questions: Categories
Hi all, I posted below the other day on BitcoinBlack. Since it is relevant here as well, I'll just repeat it here. Basically these are some thoughts on what would be a Minimum Viable Fork (a fork of Bitcoin Core, with minimal changes, that stands a chance of surviving the forking process). No code has been tested, I just wrote what came to mind and seemed to make sense. Would appreciate any thoughts on it. First of all a fork date needs to be decided. This should be at the end of a difficulty retargetting period, so something like block 435455 would be fine (Bitcoin uses nHeight+1 / 2016 to determine the adjustment moment). This block would be mined in about 85 days, making it the last block before we celebrate the anniversary of the original Bitcoin whitepaper (October 31, 2008). Besides being a symbolic date, it would leave some time for review, finish some open items (see below) and allow exchanges/wallets to prepare. Now, getting to the actual fork we'll need two things (based on Bitcoin Core). The first would be the the max block size increase. We'd be fine with a minimal controversial increase to 2MB (Classic style). Since we're (implicitly) creating a community that is OK with hard-forking to upgrade we can leave further increases for a later date. In the code we'd change (consensus.h): static const unsigned int MAX_BLOCK_BASE_SIZE = 1000000; to something like static const unsigned int MAX_BLOCK_BASE_SIZE = 2000000; static const unsigned int OLD_MAX_BLOCK_BASE_SIZE = 1000000; and add (to main.cpp before //size limits) some condition to switch the MAX_BLOCK_SIZE variable at the hard-fork point (again Classic style, no need to reinvent the wheel here) Then comes the difficult part. Classic does a fork on a supermajority of 75%. Ethereum Classic shows a minority chain can survice, so we don't need a supermajority. Bitcoin's difficulty algorithm does make things slightly more interesting than an ETC fork though. We can do a one-time change of the difficulty, but we need to remember it adjusts only once every 2016 blocks (there's a risk of getting "stuck"). What we can do is fork to 1% of BTC's difficulty. Bitcoin is protected against increases greater than 4x, so it won't explode right away in a majority attack. Furthermore gaining 1% should be easy. Many people would probably be willing to pay 1% of BTC for a BTC fork that does 2MB blocks. We have learned the hash follows the market, so we would get 1% hash easily (note Classic has 3%+ support at the moment, there absolutely going to be a market). I suppose this could be done by adding the following in CalculateNextWorkRequired (pow.cpp): if ((pindexLast->nHeight+1) = 435456) nActualTimespan = params.nPowTargetTimespan*0.01; Right before // Retarget (the previous will fork to exactly 1% of the most recent BTC difficulty regardless of when we do it or what the difficulty is). After this the software is ready, except for replay attack protection. This is the open end mentioned earlier. In a minority fork, this is going be problem. We could decide we don't care, since Ethereum Classic is hanging on pretty well without, but I'd recommend to include this (also to force the fork as transactions would become incompatible). So, there's a date and some actual code, now about the name.. Bitcoin Black isn't that catchy (no offence). How about Bitcoin Next (ticker BNX) instead? A simple name highlighting the progress that will be made by forking (secured it by reserving it). TL;DR: a Minimum Viable Fork would include the following 1) A increase of the max block size should to 2MB (least controversial change) 2) A one-time difficulty adjustment to (something like) 1% of BTC's total difficulty 3) Replay attack protection (making transactions incompatible)
I've been working on a bot for crypto subs like /r/bitcoin for a few days now. Say hello to crypto_bot!
Hey guys, I've been working on crypto_bot for some time now. It provides a bunch of features that I hope will enhance your experience on /bitcoin (and any other subreddit). You can call it by mentioning it in a comment. I started working on this a few days ago. I'm constantly adding new features and will update this post when I do, but if you're interested I'll post all updates and some tips at /crypto_bot. Please either comment here, message me, or post there if you'd like to report a bug, request a feature, or offer feedback. There's also one hidden command :) You can call multiple commands in one comment. Here's a description of the commands you can use:
Responds with the USD price of one bitcoin from an average of six of the top bitcoin exchanges (BTC-E, Bitstamp, Bitfinex, Coinbase, Kraken, Cryptsy).
Responds with the USD price of one bitcoin at seven exchanges (all of the ones listed above, plus LocalBitcoins). Also lists the average at the bottom.
Responds with the USD price of one bitcoin from [exchange] (any of the seven listed above).
Responds with the USD price of one litecoin, or the price of 1 doge and 1,000 doge.
crypto_bot litecoin|ltc [exchange]
Responds with the USD price of one litecoin from BTC-E, Bitfinex, Kraken, or Cryptsy.
Responds with the price of one bitcoin in the specified currency. Available currencies (symbols): JPY, CNY, SGD, HKD, CAD, NZD, AUD, CLP, GBP, DKK, SEK, ISK, CHF, BRL, EUR, RUB, PLN, THB, KRW, TWD.
crypto_bot [about|info] [arg]
Responds with a short description about [arg], as well as a link to an external site (Wikipedia, bitcoin.it, and some others) for more information. You can list multiple arguments and get a description for each. Available arguments: bitcoin, block chain, transaction, address, genesis, satoshi, mining, confirmation, coinbase, gox, cold wallet, hot wallet.
Responds with calculations and information about how a miner would do with the above data (mining calculator). The only required field is mining speed. Order of the arguments does not matter. Everything other than hashrate defaults to the following if not given: w (watts): 0, kwh ($kilowatt cost/hour): 0, difficulty: current network difficulty, hc$ (hardware cost): $0, $: current bitcoin price in usd (according to Coinbase), % (pool fee): 0. The calculator does not account for nor allow for input of the increase/decrease of difficulty over time, though I may add this feature soon. Working hashing speeds: h/s, kh/s, mh/s, gh/s, th/s, ph/s. Example usage: "crypto_bot calc 30th/s 10w .12kwh hc$55 1.5%" (to make it easier to remember, th/s can also be inputted as ths). This calls the bot with a hashrate of 30 th/s, electricity usage of 10w, a cost of $.12 kWh, a hardware cost of $55, and a pool fee of 1.5%.
crypto_bot number of btc <$amount to convert> [bp$bitcoin price]
Responds with the number of bitcoins you could buy with <$amount to convert>. If the comment specifies a [bp$bitcoin price], it calculates it with that exchange rate. Otherwise, it uses the rate from Coinbase. Example usage: "crypto_bot $419.29 bp$180.32" This calculates how many bitcoins you can buy if you have $419.29 and the bitcoin exchange rate is $180.32.
Signs a message in the bitcoin block chain in a transaction using OP_RETURN. The message must be less than 40 characters. Example usage: "SignMessage! "Post messages in the block chain!"" I hope you find this bot useful! Again, if you have any questions or comments, please either comment on this post, message me, or post on /crypto_bot. Update 1 (June 24, 2015, 17:35): The bot now responds with information if you post a link to a block, transaction, or address on Blockchain.info in a comment, even if you don't call it. For example, if I wrote "https://blockchain.info/block/0000000000000000126448be07fb1f82af19fbbf07dd7e07ebcd08d42c2660cb" in a comment, it would respond with information about block #362,377. Update 2 (July 10, 2015, 1:59): The bot now has two additional commands: "unconfirmed transactions" (or "unconfirmed tx") and "explain transaction delay" (or "explain tx delay"). The first command responds with the number of unconfirmed transactions, and the second explains why transactions might take extra time to confirm. Update 3 (August 24, 2015, 1:34): The bot now responds in a better way than before when transaction ids or addresses are posted. Before, it only responded when the transaction id or address was used in a link to Blockchain.info. Now the bot will respond whenever a transaction id or address is posted at all; a link to Blockchain.info is no longer necessary. Update 4 (August 27, 2015, 3:00): The bot can now sign messages in the Bitcoin block chain using OP_RETURN.
The amount of newly created bitcoin a miner can add to a block decreases approximately every four years (or precisely every 210,000 blocks). It started at 50 bitcoin per block in January of 2009 and halved to 25 bitcoin per block in November of 2012. It will halve again to 12.5 bitcoin per block sometime in 2016. We’ve built a platform to buy and sell pictures. Picscoin is a platform for the future of Social Networking. While existing solutions offer to solve just one problem at a time, our team is up to build a secure, useful, & easy-to-use product based on a private blockchain. Bitcoin Target Value Explain the tech, for non-techies Due to its very nature, the cryptocurrency space can often become quite technical.futures contracts, many technical analysts believe that buyers or bulls in the market have failed to take advantage of the momentum and revive Automated Trading System Amibroker the momentum of large market Mar 23, 2018 - Explore bitcoininvestment48's board "free bitcoin" on Pinterest. See more ideas about Bitcoin, Bitcoin mining, What is bitcoin mining. blockchain block free download. Block-chain for Academic Records This project aims to develop a prototype to digitally store, verify, and authenticate the academic
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