Community: Crypto

Mark Cuban took to Twitter to share his take on Bitcoin.

Over the years a great number of self-proclaimed blockchain inventors have said that they once played the role of Satoshi Nakamoto.

One of the creators of dogecoin has noted that he “didn’t consider” the environmental impact of the cryptocurrency, which was initially created as a joke.

TL;DR In our tests, a Raspberry Pi 4 node uses just over a millionth of a kWh per IOTA message/transaction, including proof-of-work costs. For comparison, making one mug of coffee in a single-serve machine uses about .024 kWh (nearly 22,000 times as much energy). Executive SummaryThere is

What if Cardano (ADA) will become bigger than Bitcoin and Ethereum? Our team played imagine game | DailyCoin

Dogecoin (DOGE) and Shiba Inu (SHIB) traders lost over $200 million yesterday after Ethereum’s Vitalik Buterin dumped part of his stack.

Blockchain domain name provider Unstoppable Domains today announced a collaboration with privacy-oriented web browser Brave that enables native browser support for the crypto domain name company.

DO YOU KNOW THAT BITCOIN... Devours More Electricity Than Many Countries ?

Bitcoin uses 143 terawatt-hours (TWh)
Among other things, Bitcoin has been criticized for price
volatility, use in illegal transactions, and thefts from
exchanges. It has also proven highly controversial for
the sheer amount of energy it requires. The University of
... Cambridge maintains an online tool that estimates the
level of electricity the crypto-currency network uses and
compares it with other entities. It estimates that Bitcoin
uses 143 terawatt-hours (TWh) of electricity per year,
more than many countries and around 0.65 percent of
worldwide electricity consumption. A comparison by
Visual Capitalist also shows that it also consumes far
more power than the world’s largest technology
companies.
Norway consumes an estimated 124 TWh of electricity
while Switzerland consumes 56 TWh annually by
comparison. In fact, if Bitcoin was a country, it would be
the 27th most-energy-demanding nation on earth. All of
that thirst for electricity comes from the computing
power needed for mining, which is a process where
machines are connected to the network to verify
transactions, which involves puzzle-solving. Some
Bitcoin miners have even relocated to places like
Iceland to reduce costs as geothermal energy is
abundant there while cold Arctic air helps with cooling.




NEWS SOURCE:
en.protothema.gr/bitcoin-devours...
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Published on Apr 24, 2021
In this episode of the Keiser Report, Max and Stacy look at the flow of hard money into China as rumours fly of gold-backed central bank digital currencies and bitcoin receives some positive words from the PBOC.
...
In the second half Max continues his interview with Charles Hugh Smith of OfTwoMinds.com about the Cultural Revolution sweeping the West and what it means for the economy going forward.

Follow us on Telegram t.me/rtintl​ / t.me/rtvisual
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Boom Bust’s Christy Ai [soundcloud podcast]

m.soundcloud.com/rttv/bb080521

etherplan.com/2021/01/03/how-eth...

for those who'd rather watch a video.... here ya go!


1. Few systems will win the blockchain format war

Only 3 or 4 chains will exist at the base layer [1] with market shares of more or less 50%, 25%, 12.5%, and 6.25% (all the rest perhaps the other 6.25%).
...
The blockchain industry is going on its 12th year of existence, and it is clearer that there are a few systems that are gaining the most clout. Bitcoin (BTC) and Ethereum’s (ETH) market capitalizations combined represent 82% of the total cryptocurrency value at the time of this writing [2], and their transaction and fee volumes are dominant [3].

In the next ten years this trend will likely continue, but ETH will migrate to proof of stake [4], which will open that position for ETC to occupy at the base layer.
2. Nakamoto Consensus is the most secure consensus mechanism

Proof of work based Nakamoto consensus [5] will be the base layer mechanism in the blockchain industry stack because it is orders of magnitude more secure than proof of stake [6] [7] and other consensus mechanisms.

Bitcoin and, currently, Ethereum are both Nakamoto Consensus blockchains. As said above, together they have a dominant position in the market with a total value of $733 billion combined at the time of this writing.

This shows the success and viability of proof of work to manage and conduct high value payments, settlements, and smart contracts at the base layer on a global scale.
3. Ethereum Classic will be the only top proof of work smart contracts blockchain

Aside from Ethereum, which will migrate to proof of stake, ETC is the only secure proof of work smart contracts blockchain [8] at the base layer.
Ethereum Classic will be the only top proof of work smart contracts blockchain.
Ethereum Classic will be the only top proof of work smart contracts blockchain.

There are no other top smart contracts platforms that use the proof of work based Nakamoto Consensus mechanism. This positions ETC in a unique and extremely valuable niche.
4. The network reorganization attacks have made it more resilient

ETC has never been hacked, and the historic 51% attacks on the network only show that it worked as designed [9] [10].

However, several upgrades have been implemented, and others will continue to be performed to make it much more stable [11]. Eventually, as the network grows, its security model will guarantee a very similar level of safety as Bitcoin [12] [13].

ETC Labs [14], the core developer team in charge of Core Geth [15], the primary node software client of the network, successfully implemented the Modified Exponential Subjective Scoring (MESS) [16] feature to practically eliminate reorganization attacks.

They also deployed the Thanos upgrade [17] to the network, which adjusted the proof of work algorithm so that a larger base of miners may participate building blocks for the network.

The ETC Cooperative [18]; funded by Grayscale, the largest cryptocurrency asset manager in the world, and managers of the Ethereum Classic Trust [19]; continues to promote ETC, producing important research on critical improvements [20] [21], and maintaining the Hyperledger Besu client [22], which was successfully updated to operate with the Thanos upgrade.

Most remarkably, IOHK [23], the company who is co-founder and the main supporter of the Cardano blockchain [24], has recommitted significant resources to the Ethereum Classic project [25].

In the last few months, the firm has updated their ETC Mantis node client [26] to make it fully operational and comply with the latest ETC upgrades; under the motto “Helping to create a thriving ecosystem”, launched the brand new ETC Mantis Wallet [27]; and has proposed a high security and simplicity focused [28] roadmap [29] for the Ethereum Classic ecosystem at large.
5. It has a capped supply

As Bitcoin, ETC has a mechanical, algorithmic, and capped, thus sound and trust minimized monetary policy [30].

As Bitcoin’s supply will never surpass 21 million BTC, Ethereum Classic’s supply will never surpass 210 million ETC. Both cryptocurrencies have the goal of mimicking gold to become digital gold [31].
6. Its positioning will make it complementary to Bitcoin at the base layer

Bitcoin will be the largest system at the base layer [32] with a 50% share and ETC will be second with 25% because of its high value as a general computing platform.

Due to its unique positioning in the proof of work, smart contracts, and fixed monetary policy niche [33]; its “Code Is Law” philosophy [34] [35]; and that Ethereum will migrate to a more performant, but less secure consensus mechanism [36] [37]; ETC has the opportunity to, and will likely become the preeminent base layer, highly secure smart contracts platform.
7. The base layer will be as valuable as gold

The base layer will be ...
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Bitcoin (BTC (+3.54%)) has begun the monthly options expiry week on a positive note, rising from $48,000 to over $54,000.

Further gains may remain elusive for a while or unfold at a slower pace, as the max pain point for Friday’s $4.2 billion options expiry is $54,000.

As discussed last month, call and put sellers, typically institutions with ample capital supply, often manipulate and pin the price of the underlying toward the max pain point while heading into the expiry.
...
www.coindesk.com/bitcoin-options...


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Hundreds of banks in the U.S. will reportedly start offering access to bitcoin to their customers this year, thanks to a partnership between Fidelity National Information Services and the New York Digital Investment Group. Hundreds of banks have enrolled to participate in the program as they see funds moving from bank accounts to crypto exchanges.

Mastercard highlighted a growing interest in cryptocurrency payments among 15,569 consumers it interviewed in 18 countries across the world.

Thanks to Reddit, Dogecoin billboards have popped up all around the country. We spoke to some of the crypto devotees behind the ads.

As Ethereum skyrocketed to its latest all-time high above $3,450, short traders felt the consequences with a record-setting number of liquidations.

Dear respected users,Hotbit just suffered a serious cyber attack starting around 08:00 PM UTC, April 29,2021, which led to the...


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I can't remember if i moved everything out?

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Crytpocurrency payments and NFT sales could be coming to eBay soon.