5+ Best BitCoin Mining Software Free Download For Windows ...

BiblePay (BBP)

BiblePay (BBP) is a Charity Christian Cryptocurrency that donates 10% of coins to Charity every month, sponsoring orphans
[link]

[ANN][ANDROID MINING][AIRDROP] NewEnglandcoin: Scrypt RandomSpike

New England
New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/
NewEnglandcoin
Symbol: NENG
NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones.
Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt.
1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377
NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number
Bitcoin Fork - Suitable for Home Hobbyists
NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs.
The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity.
MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018)
https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn
CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software.
Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%.
NENG v1.4.0 release enabled CPU mining inside android phones.
Youtube Video Tutorial
How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg
How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ
Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG.
We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange.
Twitter Airdrop
Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners
Graphic Redesign Bounty
Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs
Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form.
Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues.
Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1
Milestones
Roadmap
NENG v1.4.0 Android Mining, randomSpike Evaluation https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/NENG_2020_Q3_report/NENG_2020_Q3_report.pdf
RandomSpike - NENG core v1.3.0 Hardfork Upgrade Proposal https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2020Q1_Report/Scrypt_RandomSpike_NENGv1.3.0_Hardfork_Proposal.pdf
NENG Security, Decentralization & Valuation
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2019Q2_report/NENG_Security_Decentralization_Value.pdf
Whitepaper v1.0 https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/whitepaper_v1.0/NENG_WhitePaper.pdf
DISCORD https://discord.gg/UPeBwgs
Explorer
http://www.findblocks.com/exploreNENG http://86.100.49.209/exploreNENG http://nengexplorer.mooo.com:3001/
Step by step guide on how to setup an explorer: https://github.com/ShorelineCrypto/nengexplorer
Github https://github.com/ShorelineCrypto/NewEnglandCoin
Wallet
Android with UserLand App (arm64/armhf), Chromebook (x64/arm64/armhf): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.5
Linux Wallet (Ubuntu/Linux Mint, Debian/MX Linux, Arch/Manjaro, Fedora, openSUSE): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.3
MacOS Wallet (10.11 El Capitan or higher): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.2
Android with GNUroot on 32 bits old Phones (alpha release) wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0
Windows wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.3.0.1
addnode ip address for the wallet to sync faster, frequently updated conf file: https://github.com/ShorelineCrypto/cheetah_cpumineblob/mastenewenglandcoin.conf-example
How to Sync Full Node Desktop Wallet https://www.reddit.com/NewEnglandCoin/comments/er6f0q/how_to_sync_full_node_desktop_wallet/
TWITTER https://twitter.com/newenglandcoin
REDDIT https://www.reddit.com/NewEnglandCoin/
Cheetah CPU Miner Software https://github.com/ShorelineCrypto/cheetah_cpuminer
Solo Mining with GPU or ASIC https://bitcointalk.org/index.php?topic=5027091.msg52187727#msg52187727
How to Run Two Full Node in Same Desktop PC https://bitcointalk.org/index.php?topic=5027091.msg53581449#msg53581449
ASIC/GPU Mining Pools Warning to Big ASIC Miners Due to DynDiff Algo on top of Scrypt, solo mining is recommended for ASIC/GPU miners. Further more, even for mining pools, small mining pool will generate better performance than big NENG mining pool because of new algo v1.2.x post hard fork.
The set up configuration of NENG for scrypt pool mining is same as a typical normal scrypt coin. In other word, DynDiff on Scrypt algo is backward compatible with Scrypt algo. Because ASIC/GPU miners rely on CPU miners for smooth blockchain movement, checkout bottom of "Latest News" section for A WARNING to All ASIC miners before you decide to dump big ASIC hash rate into NENG mining.
(1) Original DynDiff Warning: https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708 (2) New Warning on RandomSpike Spike difficulty (244k) introduced in RandomSpike served as roadblocks to instant mining and provide security against 51% attack risk. However, this spike difficulty like a roadblock that makes big ASIC mining less profitable. In case of spike block to be mined, the spike difficulty immediately serve as base difficulty, which will block GPU/ASIC miners effectively and leave CPU cheetah solo miners dominating mining almost 100% until next base difficulty reset.
FindBlocks http://findblocks.com/
CRpool http://crpool.xyz/
Cminors' Pool http://newenglandcoin.cminors-pool.com/
SPOOL https://spools.online/
Exchange
📷
https://shorelinecrypto.com/
Features: anonymous sign up and trading. No restriction or limit on deposit or withdraw.
The trading pairs available: NewEnglandcoin (NENG) / Dogecoin (DOGE)
Trading commission: A round trip trading will incur 0.10% trading fees in average. Fees are paid only on buyer side. buy fee: 0.2% / sell fee: 0% Deposit fees: free for all coins Withdraw fees: ZERO per withdraw. Mining fees are appointed by each coin blockchain. To cover the blockchain mining fees, there is minimum balance per coin per account: * Dogecoin 2 DOGE * NewEnglandcoin 1 NENG
Latest News Aug 30, 2020 - NENG v1.4.0.5 Released for Android/Chromebook Upgrade with armhf, better hardware support https://bitcointalk.org/index.php?topic=5027091.msg55098029#msg55098029
Aug 11, 2020 - NENG v1.4.0.4 Released for Android arm64 Upgrade / Chromebook Support https://bitcointalk.org/index.php?topic=5027091.msg54977437#msg54977437
Jul 30, 2020 - NENG v1.4.0.3 Released for Linux Wallet Upgrade with 8 Distros https://bitcointalk.org/index.php?topic=5027091.msg54898540#msg54898540
Jul 21, 2020 - NENG v1.4.0.2 Released for MacOS Upgrade with Catalina https://bitcointalk.org/index.php?topic=5027091.msg54839522#msg54839522
Jul 19, 2020 - NENG v1.4.0.1 Released for MacOS Wallet Upgrade https://bitcointalk.org/index.php?topic=5027091.msg54830333#msg54830333
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining, Ubuntu 20.04 support https://bitcointalk.org/index.php?topic=5027091.msg54803639#msg54803639
Jul 11, 2020 - NENG v1.4.0 Android Mining, randomSpike Evaluation https://bitcointalk.org/index.php?topic=5027091.msg54777222#msg54777222
Jun 27, 2020 - Pre-Announce: NENG v1.4.0 Proposal for Mobile Miner Upgrade, Android Mining Start in July 2020 https://bitcointalk.org/index.php?topic=5027091.msg54694233#msg54694233
Jun 19, 2020 - Best Practice for Futurebit Moonlander2 USB ASIC on solo mining mode https://bitcointalk.org/index.php?topic=5027091.msg54645726#msg54645726
Mar 15, 2020 - Scrypt RandomSpike - NENG v1.3.0.1 Released for better wallet syncing https://bitcointalk.org/index.php?topic=5027091.msg54030923#msg54030923
Feb 23, 2020 - Scrypt RandomSpike - NENG Core v1.3.0 Relased, Hardfork on Mar 1 https://bitcointalk.org/index.php?topic=5027091.msg53900926#msg53900926
Feb 1, 2020 - Scrypt RandomSpike Proposal Published- NENG 1.3.0 Hardfork https://bitcointalk.org/index.php?topic=5027091.msg53735458#msg53735458
Jan 15, 2020 - NewEnglandcoin Dev Team Expanded with New Kickoff https://bitcointalk.org/index.php?topic=5027091.msg53617358#msg53617358
Jan 12, 2020 - Explanation of Base Diff Reset and Effect of Supply https://www.reddit.com/NewEnglandCoin/comments/envmo1/explanation_of_base_diff_reset_and_effect_of/
Dec 19, 2019 - Shoreline_tradingbot version 1.0 is released https://bitcointalk.org/index.php?topic=5121953.msg53391184#msg53391184
Sept 1, 2019 - NewEnglandcoin (NENG) is Selected as Shoreline Tradingbot First Supported Coin https://bitcointalk.org/index.php?topic=5027091.msg52331201#msg52331201
Aug 15, 2019 - Mining Update on Effect of Base Difficulty Reset, GPU vs ASIC https://bitcointalk.org/index.php?topic=5027091.msg52169572#msg52169572
Jul 7, 2019 - CPU Mining on macOS Mojave is supported under latest Cheetah_Cpuminer Release https://bitcointalk.org/index.php?topic=5027091.msg51745839#msg51745839
Jun 1, 2019 - NENG Fiat project is stopped by Square, Inc https://bitcointalk.org/index.php?topic=5027091.msg51312291#msg51312291
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto https://bitcointalk.org/index.php?topic=5027091.msg50714764#msg50714764
Apr 7, 2019 - Announcement of Fiat Project for all U.S. Residents & Mobile Miner Project Initiation https://bitcointalk.org/index.php?topic=5027091.msg50506585#msg50506585
Apr 1, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50417196#msg50417196
Mar 27, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50332097#msg50332097
Mar 17, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50208194#msg50208194
Feb 26, 2019 - Community Project - NewEnglandcoin Graphic Redesign Bounty Initiated https://bitcointalk.org/index.php?topic=5027091.msg49931305#msg49931305
Feb 22, 2019 - Dev Policy on Checkpoints on NewEnglandcoin https://bitcointalk.org/index.php?topic=5027091.msg49875242#msg49875242
Feb 20, 2019 - NewEnglandCoin v1.2.1 Released to Secure the Hard Kork https://bitcointalk.org/index.php?topic=5027091.msg49831059#msg49831059
Feb 11, 2019 - NewEnglandCoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork https://bitcointalk.org/index.php?topic=5027091.msg49685389#msg49685389
Jan 13, 2019 - Cheetah_CpuMiner added support for CPU Mining on Mac https://bitcointalk.org/index.php?topic=5027091.msg49218760#msg49218760
Jan 12, 2019 - NENG Core v1.1.2 Released to support MacOS OSX Wallet https://bitcointalk.org/index.php?topic=5027091.msg49202088#msg49202088
Jan 2, 2019 - Cheetah_Cpuminer v1.1.0 is released for both Linux and Windows https://bitcointalk.org/index.php?topic=5027091.msg49004345#msg49004345
Dec 31, 2018 - Technical Whitepaper is Released https://bitcointalk.org/index.php?topic=5027091.msg48990334#msg48990334
Dec 28, 2018 - Cheetah_Cpuminer v1.0.0 is released for Linux https://bitcointalk.org/index.php?topic=5027091.msg48935135#msg48935135
Update on Dec 14, 2018 - NENG Blockchain Stuck Issue https://bitcointalk.org/index.php?topic=5027091.msg48668375#msg48668375
Nov 27, 2018 - Exclusive for PC CPU Miners - How to Steal a Block from ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48258465#msg48258465
Nov 28, 2018 - How to CPU Mine a NENG block with window/linux PC https://bitcointalk.org/index.php?topic=5027091.msg48298311#msg48298311
Nov 29, 2018 - A Warning to ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708
Disclosure: Dev Team Came from ShorelineCrypto, a US based Informatics Service Business offering Fee for service for Coin Creation, Coin Exchange Listing, Blockchain Consulting, etc.
submitted by honglu69 to NewEnglandCoin [link] [comments]

Cryptocurrency Mining Today

Cryptocurrency Mining Today
Mining is one of the key concepts in the crypto world. Everyone who comes into contact with this sphere somehow wonders about the mining of coins. How profitable is mining in 2020, and what are the current trends?
by StealthEX
Crypto mining is a process during which a computer solves mathematical problems, resulting in the release of new blocks of information. This gives its owners a certain amount of coins, which is deposited in the total pot and registered in the public “ledger”, so-called blockchain. Machines in the network are also checking transactions with existing coins, adding this information to the blockchain as well.
As for the issue itself, the most well-known algorithm of mining is Proof-of-Work (PoW), used in the networks of Bitcoin, Litecoin, Ethereum and many others.
During the mining process, the latest transactions are verified and compiled into blocks. It is usually a series of calculations with an iteration of parameters to find a hash with the specified properties. The node which first solves this problem receives a reward. This approach was specifically designed to encourage those who provide the computing power of their mining machines to maintain the network and mine new coins.
It is usually no need for a newcomer to know and understand all the complicated details of the mining process, just how much they can earn with certain equipment and electricity costs.
Everything is designed in such a way that the complexity of calculations is steadily increasing, which then requires a constant increase in the computing power of the network. In 2009-2010, for mining bitcoin, miners only had to download and run the software on their personal computers, but very soon the network became so complicated that even with best PCs with a powerful processor, mining became unprofitable. That’s why miners started to use more effective video cards (graphics processing units or GPUs) and join them in so-called “farms”.
In most systems, the number of coins is determined in advance. Also, many networks are gradually reducing rewards for miners. Such emission restrictions were built into the algorithm to prevent inflation.
Thus, the cost of mining for smaller participants no longer pays off, which makes them turn off their hardware or switch to another coin where they can still make their profit.
In particular, on the evening of May 11, 2020, a halving took place in the bitcoin network, the reward for mining was halved, from 12.5 to 6.25 BTC. In June, the revenue of bitcoin miners decreased by 23%, to the lowest since March 2019.
However, in mid-June, the difficulty of bitcoin mining showed a record growth over the past 2.5 years. Mining the first cryptocurrency has become 15% more difficult. Although, by the beginning of July, the complexity had stabilized. The growing difficulty of mining the first cryptocurrency indicates that new miners have joined its network. Previously, some of them turned off the equipment, as it became less profitable to mine the coin due to a decrease in its cost and halving.
Now the absolute majority of new coins are generated by industrial mining. This is done by large data centers equipped with specialized computers based on the ASIC architecture. ASICs are integrated circuits that were initially optimized for a specific task, namely the mining of cryptocurrencies. They are much more productive than CPUs and video cards, and at the same time consume much less electricity. ASIC computers are the main type of equipment for the industrial production of crypto.
So now, after the halving, BTC coin mining has become even less profitable. For beginners, mining the first cryptocurrency is unlikely to be suitable. It is more often earned by large companies that have all the necessary equipment, access to cheap rental conditions, electricity and maintenance.
Hence newbies are better off starting with mining altcoins. It is even more profitable to work in a pool, that is, together with other miners. This can help to place farms in one place and negotiate a favourable price for electricity, so you can get a small but stable income dux to the total capacity of the pool.
Therefore, it has become much more difficult for regular users who have only non-specialized equipment at their disposal to generate virtual money. However, GPU developers have significantly increased the performance of their devices in recent years, so mining on a video card is still common.
Another important event that changes the situation in the mining sphere will be the hardfork of the Ethereum network with the turn to the Proof-of-Stake algorithm. For now, Ethereum is the most popular altcoin for GPU mining, but Ethereum 2.0 will not require using such powerful equipment, so then it switches to PoS, GPU owners will have to look for alternative coins to mine.
At the moment the most popular altcoins for mining on GPUs are Ethereum (ETH), Ethereum Classic (ETC), Grin (GRIN), Zcoin (XZC), Dogecoin and Ravencoin (RVN). There are actually a lot of mining programs that automatically determine which coin is more profitable to mine at the moment.
In the coming years, the market is waiting for a race of technologies. Manufacturers are investing in finding ways to increase hashing speed and reduce power consumption. Mining pools will play an increasing role. The market will also be affected by applications for mining cryptocurrencies on smartphones that require low computing power, such as Dash or Litecoin.
And remember StealthEX supports more than 250 coins and constantly updating the list, so you can easily swap your crypto haul to more popular altcoins. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to BTC.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/07/28/mining-today/
submitted by Stealthex_io to StealthEX [link] [comments]

Epic Cash AMA Recap with CryptoDiffer Community

CryptoDiffer team Hello, everyone! We are glad to meet here: Max Freeman (@maxfreeman4), Project Lead at Epic Cash Yoga Dude (@Yogadude), PR&Marketing at Epic Cash Xenolink (@Xenolink), Advisor at Epic Cash
Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here!
Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here!
Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us!
CryptoDiffer team Let`s start from the first introduction question: Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash?
Yoga Dude PR&Marketing at Epic Cash
Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing.
I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially.
Xenolink Advisor at Epic Cash
Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers!
Max Freeman Project Lead at Epic Cash
I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level.
CryptoDiffer team
Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:)
Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one?
Max Freeman Project Lead at Epic Cash
I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble
We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly.
There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos
that explain why we believe we have created something truly special here.
Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange.
Yoga Dude PR&Marketing at Epic Cash
Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility.
Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved.
Xenolink Advisor at Epic Cash
To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry.
To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone.
CryptoDiffer team
Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months?
Yoga Dude PR&Marketing at Epic Cash
Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content.
We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money.
You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages
Max Freeman Project Lead at Epic Cash
Our future development roadmap will be published soon and includes 4 tracks:
Usability
Mining
Core Protocol
Ecosystem Development
Core Protocol
Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020
Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020
Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a
Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a
Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a
Usability
GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020
Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020
Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a
Mining
RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a
The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin.
Ecosystem Development
Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a
Xenolink Advisor at Epic Cash
From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide.
CryptoDiffer team
Great, thank you for your answers, we now can move to community questions part!
Cryptodiffer Community
You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC?
Max Freeman Project Lead at Epic Cash
The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part.
Cryptodiffer Community
To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from?
Xenolink Advisor at Epic Cash
Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project.
Cryptodiffer Community
Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you!
Yoga Dude PR&Marketing at Epic Cash
First, I must admit that I am still a huge fan and HODLer of Monero. That said:
✅ our blockchain is MUCH lighter than Monero’s
✅ our transaction processing speed is much faster
✅ our address-less blockchain is more private
✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU
Cryptodiffer Community
  1. the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
  2. On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
  1. This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
  2. The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community
$EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future?
Who is Epic Biggest competitors?
And what’s makes epic better than competitors?
Xenolink Advisor at Epic Cash
We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity.
Cryptodiffer Community
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Yoga Dude PR&Marketing at Epic Cash
Since we are a community project, we have many developers, in addition to the core team.
Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks.
We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked.
Cryptodiffer Community
EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges?
Xenolink Advisor at Epic Cash
In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Max Freeman Project Lead at Epic Cash
Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic.
With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash.
As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability
Cryptodiffer Community
Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ?
Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors?
Max Freeman Project Lead at Epic Cash
RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware.
Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses.
Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware.
The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved.
Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem?
Xenolink Advisor at Epic Cash
Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic.
Cryptodiffer Community
I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto?
What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ?
Yoga Dude Pr&Marketing at Epic Cash
Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential.
The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers.
The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique
Cryptodiffer Community
Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI?
Yoga Dude PR&Marketing at Epic Cash
We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on.
Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way.
Cryptodiffer Community
If you could choose one celebrity to promote Epic-cash, who that would be?
Max Freeman Project Lead at Epic Cash
I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences.
I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today.
Epic Cash will have its OWN Celebrities
Cryptodiffer Community
How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it?
Xenolink Advisor at Epic Cash
Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin.
Cryptodiffer Community
what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Max Freeman Project Lead at Epic Cash
There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make.
Cryptodiffer Community
Q1 : What are your major goals to archive in the next 3–4 years?
Q2 : What are your plans to expand and gain more adoption?
Yoga Dude Pr&Marketing at Epic Cash
Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁
We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting.
Cryptodiffer Community
It seems to me that EpicCash will have its first Halving, right? Why a halving so soon?
Is a mobile version feasible?
Max Freeman Project Lead at Epic Cash
Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140.
Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining.
Cryptodiffer Community
What markets will you add after that?
Yoga Dude PR&Marketing at Epic Cash
Well, we are aiming to have ALL markets
Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry)
We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages.
Epic Cash is More than Money and its for Everyone.
Cryptodiffer Community
Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins?
Max Freeman Project Lead at Epic Cash
With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can.
Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Xenolink Advisor at Epic Cash
Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash.
Cryptodiffer Community
  1. You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
  2. How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash
Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well.
Cryptodiffer Community
Do EPICs in 2020 focus more on research and coding, or on sales and implementation?
Yoga Dude PR&Marketing at Epic Cash
We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy.
In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC.
Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters.
Everyone with skin in the game gets the benefit of advancing the cause.
Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content —
https://www.youtube.com/watch?v=XtAVEqKGgqY
a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this
Cryptodiffer Community
I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex?
Let’s talk about the economic model, can EpicCash comply with the concept of value reserve?
Max Freeman Project Lead at Epic Cash
In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader.
We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166
Max Freeman Project Lead at Epic Cash
Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project.
Xenolink Advisor at Epic Cash
Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash .
Yoga Dude Pr&Marketing at Epic Cash
Thank you, CryptoDiffer Team, and this wonderful Community!!!
Cryptodiffer TEAM
Thank you everyone for taking your time and asking great questions
Thank you for your time, it was an insightful session
Spread the love
submitted by EpicCashFrodo to epiccash [link] [comments]

GPU Mining Crash Course - START HERE!

Welcome All to the GPUMining Crash Course!
With the increase in prices in cryptocurrency, a lot of people are getting back into mining and a lot of people are brand new to the concept overall. So, I quickly wrote this crash course to help you understand what to expect and how to successfully mine your first cryptocurrency. This crash course isn't gonna have all of the fluff you'd see in a normal publication. This is just everything you need to know to get up and running on your first cryptocurrency mining rig.

What is cryptocurrency mining?

One of the main things about cryptocurrencies is that they are "decentralized". Sounds great, but WTF does that even mean? Well, the easiest way to explain it is...
You know how if you want to send your friend/family money digitally, you can do so through your bank. Your bank likely takes a transaction fee and in a few days they will transfer the money. Since cryptocurrencies are decentralized, they don't have a bank or organization to fulfill the transfer of money. Instead, they outsource the computing power of their cryptocurrency network to miners (soon to be you). These miners are verifying transactions, securing the blockchain, and powering the cryptocurrency's specific network among other things. As an incentive, the miners collect transaction fees on the transactions that they verify and collect block rewards while new currency is still being introduced into the ecosystem.

What kind of rig should I build?

You can mine cryptocurrencies using your CPU, GPU, FPGA, or ASIC, but this is a GPU Mining subreddit, so I will cater this to GPUs.
For building a great all-around GPU rig, there are two models of GPUs that I'd recommend:
Both of these GPUs have solid hashrates across most mining algorithms and for a decent price! You should be able to find both of these kinds of GPUs used for around $200-$250 each, which is a great price if you know what happened during the last mining craze! ($200 GPUs were out of stock everywhere and people were reselling them for $600+ each)
There are also plenty of great AMD GPUs for mining, but I've worked mostly with Nvidia so that's why both of my recommendations are Nvidia and not AMD.
Other parts to your rig that you'll need are listed below. Most of these can be pieces of crap and are just needed to make the rig actually run, but the one spot you DON'T want to cheap out on is the power supply unit. A decent power supply unit will keep your home from burning down while also keeping your rigs up and running smoothly. Here are my recommendations:

She's built, now what?

Now you need to do a few things. I am a Windows miner, so I will be speaking to Windows here:
  1. Update Windows - Do all of the updates. Just do it.
  2. Update Drivers - Go to the EVGA website and download GeForce experience. It will keep your GPU drivers up to date.
  3. Go to Windows Device Manager and make sure all of your GPUs show up under "Display Adapters". If it is there, but it isn't showing the Name/Model of the GPU as the name, right click it and select "Update Driver". This should fix it.
Assuming you've done all of this, you're ready to download a mining application.

Mining Software

There are tons to choose from! Claymore, Phoenix, EWBF, LolMiner, etc... It can be overwhelming pretty quickly since they all have different algorithm support, speeds, efficiencies, and a whole lot more. On top of that, in order to get them running you need to set up batch files to call the proper exe, point you to the correct pool, and a whole bunch of other stuff that can be confusing to a new user. Not to mention, you will probably need a separate miner, config file, batch file, etc. for each different algorithm that you're interested in mining on.
Instead, I recommend that you download a miner management software that will take care of most of this tedious work for you. There are a few in the sidebar, but the /GPUMining favorite is AIOMiner. It was developed by our very own community member, xixspiderxix with the intention of making mining as easy as possible to do and without any fees. It supports over 100 different algorithms, so you'll be able to mine nearly ANY cryptocurrency you'd like. Just download it from their website and it will take you through a quick tutorial to help you get set up! You can also connect your rig to their website for remote monitoring and control. You've probably seen a few of their posts around this subreddit.
Other Windows mining softwares include:
Note: Many mining softwares have fees built into them. Most are around 1%, but can go as high as 5% or greater! You want a mining software with little or no fees at all so that you get to keep as much cryptocurrency as possible. These fees aren't something you actively pay, the software will automatically take it by mining on the developers behalf for a given amount of time and then switching back to mining on your own behalf. So, please be diligent in the software that you evaluate and make sure it is reputable.

I keep hearing about NiceHash. What is that?

The asshole of the mining industry. Jk, but not really.
NiceHash is a software program that allows you to sell your rig's hashing power to someone on their marketplace. They market themselves as profitable mining, but you're not really mining. You're selling your power in exchange for Bitcoin.
They did a great job telling people that with them, you're always mining the most profitable coin, but that's just not true. Since it is a mining marketplace, they make you mine whatever their most expensive contract is. If their contracts are below market prices, then you're not operating as efficiently and profitably as you could be.
NiceHash also has a sketchy history, which continues to this day. In 2017, they were hacked and lost $65M worth of Bitcoin. No one got paid out for MONTHS and many of their executives conveniently resigned. Their platform is also used to destroy cryptocurrencies. Since people are able to purchase mining power on their platform, people have used their platform to purchase enough mining power to control individual cryptocurrencies and duplicate coins, which increased the malicious user's wealth while completely destroying the integrity of the coin's blockchain. HoriZEN (formerly ZenCash), Ethereum Classic, and many other great cryptocurrencies have been the victim of NiceHash's platform.
For this and many other reasons, we highly recommend that you stay AWAY from Nicehash. We understand that it is extremely easy to use and you get paid in bitcoin, but they are destroying the industry with their greed and lack of motivation to change their platform for the protection of cryptocurrencies.

Concluding Thoughts

This is pretty much everything you need to know to get started. We covered the hardware, setting up the software, which software to use, and AIOMiner's tutorial will get you up to speed on how to actually mine the cryptocurrency that you want better than I can explain it, so I'll leave that part to them.
If you have any questions on this crash course, please leave a comment below where myself and other community members will be able to help you out.
submitted by The_Brutally_Honest to gpumining [link] [comments]

How long does it take to mine a Litecoin block?

Litecoin has faster block generation. It required 2.5 minutes for mine a litecoin block.
The holy grail of mining is faster block generation. Rewards are earned only when blocks are generated, so the faster you can generate those blocks, the better. Litecoin's block generation time is 2.5 minutes instead of bitcoin's 10 minutes.
You can mine Litecoin easily just follow the procedure:
Select the hardware you'll use to mine LTC, such as an ASIC miner or a GPU mining rig. Install any necessary software. Most ASIC miners come with pre-installed software, but if you're mining with a GPU, you'll need to download and install Litecoin mining software from a trusted provider. Start mining.
submitted by alifkhalil469 to BtcNewz [link] [comments]

Has anyone read what ABRA said about Vertcoin?

Feels like an easy read for anyone new (to understand Vertcoin) & it may be a good reminder for the hodlers.
https://www.abra.com/cryptocurrency/vertcoin/
“What is Vertcoin and what is the Vertcoin price?
Vertcoin (VTC) is a cryptocurrency that was created to make mining cryptocurrency accessible to everyone. Vertcoin is similar to litecoin and bitcoin, however, Vertcoin’s consensus algorithm makes mining VTC ASIC-resistant.
Mining on the Bitcoin network started as something that everyone could do; if a person wanted to mine cryptocurrency, all they had to do was turn on their CPU and run a mining client.
However, as more and more people began mining cryptocurrency, the mining difficulty on the Bitcoin network increased, requiring miners to continually upgrade or purchase new mining hardware to keep pace with the network and its mining-meta.
Unfortunately, as mining became more difficult and required modern hardware to stand a chance at solving blocks, many individuals could no longer compete with deep pockets who were able to upgrade, purchase, and build expensive mining rigs, or in some cases, create mining farms consisting of tens of thousands of mining rigs.
As the complexity and competition in cryptocurrency mining increases, there is a concern that mining power (which is critical in keeping distributed, permissionless networks open) will become consolidated and be under the control of only the largest mining operations.
The result would be the kind of centralization and monopolistic network control that cryptocurrencies set out to disrupt in the first place.
That’s where Vertcoin comes in. The Vertcoin blockchain is designed to resist the consolidation of mining power in an effort to stay decentralized and easily minable by pretty standard consumer hardware.
In order to help support the effort to keep mining open and accessible, the vertcoin development community created something called the “one-click miner.” Essentially, the “one-click miner” is downloadable software that works with the graphics card found on a Windows computer.
The price of Vertcoin, like many other cryptocurrencies, has varied widely in its lifetime. The coin first launched in January of 2014 and reached an all-time high in December of 2017 when the price of one vertcoin reached $9.80.
The Vertcoin Network
Other than the features relating to mining, Vertcoin is structurally similar to Bitcoin and Litecoin. Regarding use-cases, vertcoin is a peer-to-peer electronic cash system.
Unlike many of the other altcoins that exist, Vertcoin did not have an ICO, airdrop, or pre-mine. The reason for this is because the team at vertcoin did not want to give any group of individuals an advantage by giving them access to VTC before the general public received access to the coin.
The average block time on the Vertcoin network is 2.5 minutes, and the current block reward is 25 Vertcoin per block (it was initially 50 VTC per block, but the network experienced it’s first halving on December 11, 2017 — the VTC reward halves every 840,000 blocks).
Why Vertcoin?
Mining cryptocurrency has become expensive for many. Even if you own the best mining rig on the market, only running one mining rig is typically is not enough for you to make a profit due to the cost of electricity, the low probability that you have of solving the block, and the fraction of the reward you would receive if you were part of a cryptocurrency mining pool.
The cost of electricity and the mining difficulty only make it possible to profitably mine cryptocurrency if you own a high powered mining rig, are part of a cryptocurrency mining pool, or have a stake in a mining farm — or a combination of all three. For that reason, mining has become an activity that only those with the necessary physical and financial resources can participate in. And since those with more wealth have a better chance at accumulating hash power and solving a block, in some cases, mining has become a somewhat centralized activity where a majority of the hash power dedicated to a network is divided among a handful of entities.
So in an attempt to solve these problems, Vertcoin has a protocol in place that makes it difficult for ASIC miners and mining pools to reap rewards, which gives more people a chance to profitably mine cryptocurrency with GPUs and CPUs.”
submitted by Kayjay4 to vertcoin [link] [comments]

How can 1 Active wallet Node "Restart" bitcoin? What is Bitcoin? How is it secure? What Power do I have? - These and other questions from all communities addressed by me.

Hello.
I have been over in "other bitcoin communities" trying to help people understand why Bitcoin is amazing and help them understand that they do in fact have power over their money, as do you.
If you are also interested I encourage you to have a look. My write ups are here, I tried to include the responses I made for the most common questions in my documents.
"Bitcoin Miners both use and mine Bitcoin. Miners must Build a chain for the users (themselves)."
"I am still confused how you think one miner cannot just make 𝘦𝘢𝘤𝘩 of their asics a node and then 𝑏𝑒𝑐𝑜𝑚𝑒 the Bitcoin network..
This is because Your Active Full Wallet Node has a cryptographic chain that miners must build for."
I did post this before, however it was removed. I have re-posted as I think it is important. You are welcome to respectfully disagree. :)
It is disjointed, however the main post (All Active Nodes) is not, and I then just try to address the biggest questions I received about it in more medium posts. Thanks!
<3
https://media.giphy.com/media/l32slUMub0Sdi/giphy.gif
Edit:
Q/A
How can 1 Active wallet Node "Restart" bitcoin?
It can't. The single wallet node would have no-one to transact with and no-one to mine their transactions.
There are other miners.
(Basic Bitcoin attack and how it is stopped by both Active Wallet Nodes and Mining Nodes, Together. Also “If there are no miners..Whats the point?!!”) - https://medium.com/@Ben_Harpea-response-from-a-very-lovely-person-on-reddit-lol-cbec9d4d83be
Bitcoin is secure because of the accumulation of proof-of-work, which in turn is secure because of the incentives for miners to not do weird stuff. Wallet nodes have nothing to do with that.
... I disagree - "Active Wallet Nodes" Do in fact ensure the miner is mining a chain that you and other users agree with.. (There are many miners)
It is very possible that there are miners that agree with your wallet node and will mine a chain of blocks that satisfies your demands. However, the problem with your reasoning ("wallet nodes do in fact ensure the miner is mining a chain that you and other users agree with") is that no such causal relationship exists,
It does. Because you, and other users went to a website.
They downloaded some software.
They then downloaded a cryptographic-ally secured chain.
A miner cant change your node. They all have to mine blocks that can be confirmed on your Active Wallet node and My Active Wallet node. There are many miners.
One website is in control of bitcoin?
The users choose which file to download.
A miner doesn't have to change your node. A miner also doesn't have to mine blocks that can be confirmed by your wallet node. There are many nodes. There are many wallets. I have read your article. The reasoning just doesn't add up.
Okay. Thank you for the comment, the users choose which chain to mine and use.
Miners and users are the same.
They mine and use the network. Miners must build a chain for the users so..
Miners must Build a chain for themselves. :)
That's the way Bitcoin is designed, hence the nickname Honeybadger.
:D yup
“I am still confused how you think one miner cannot just make each of their asics a singular mining node and then just become the Bitcoin network..
..This is because Your Active Full Wallet Node has a cryptographic chain that miners must build blocks for.”
edit: Lots of people commenting on my writing style, saying some really nice stuff.. I am a software developer. I am not a writer or web designer. I have tried to clean it up. These posts are mainly from me attempting to explain these very difficult topics to an internet forum , or the comments I received on medium.
There is voting now to make it look like it's been manipulated. I am not doing this.
submitted by SupremeChancellor to btc [link] [comments]

What is SUQA project – How to mine SUQA coin

What is SUQA project – How to mine SUQA coin
SUQA coin is fast (533 Transactions per second) and almost No Transaction Fees. This makes it unique comparing with other projects.
SUQA is a new digital currency that has a new X22i POW algo. X22i algo is not a copy or clone of any old one but it is completely ASIC, FPGA and Quantum Resistant.
SUQA project also have a newest feature that u can 5% apr interest from term deposits even if the wallet is offline.
SUQA project aims to create the hub with SUQA payments and without taking any fees.
SUQA has a unique time-lock interest system for every user to earn deposits from their wallets without technical knowledge.
Since SUQA project is a new, unique ASIC, FPGA, Quantum resistant algorithm is very helpful for the mining community and solves numerous problems for miners. For example if you have a one GPU or only one rig you will be able to mine to the last block of SUQA without comparing any ASIC or FPGA device because SUQA will renew the algo every 6 months.
In real life SUQA will support the its community by foundation activities like mining, donations, bounty campaigns. ect.SUQA coin can be mined by GPUs (Nvidia and AMD) and CPUs. But it is only possible to mine it profitable by GPUs. SUQA unique X22i algo is also energy efficient and make your GPUs to less heat.
How To Mine SUQA coin
To mine SUQA coin 1) you need to find a miner software based on the GPU you have. 2) Download wallet and get a SUQA wallet address. 3) And then select a good pool.
Suqa Coin Algo: X22i
MINER:
– AMD:zjazz_amd_minerhttps://github.com/zjazz/zjazz_amd_minereleases
– NVIDIA:ccminer x22i win64 binary releasehttps://github.com/SUQAORG/ccminer-x22i/releases
zjazz_cuda_minerhttps://github.com/zjazz/zjazz_cuda_minereleases/tag/1.0
Trexhttps://bitcointalk.org/index.php?topic=4432704.0
Example for trex miner .bat code:t-rex.exe -a x22i -o stratum+tcp://suqa-pool.beepool.org:9504 -u YourSUQAWallet.WorkerName -p c=SUQA -R 3

https://preview.redd.it/3k92xaieh8221.jpg?width=757&format=pjpg&auto=webp&s=5b5d8259fd9847a9c003187ed7f8fa5ae14e5de2

SUQA coin hashrate, SUQA coin mining performance

Nvidia GTX 1070 – 6.4MH/s (Gigabyte GTX 1070 OC )– Nvidia GTX 1070 Ti – 7.5 Mh/s (Gigabyte GTX 1070Ti OC )– Nvidia GTX 1080Ti – 11.5 Mh/s (MSI GTX 1080Ti)
– AMD RX580 – 3.2 Mh/s (Sapphire RX 580)

SUQA coin Mining Profitability

Mining SUQA coin you will get this: SUQA price is now ~ $0,005546 (138 satoshi)
– 120 SUQA / GTX 1080Ti daily– 75 SUQA / GTX 1070 Ti daily– 65 SUQA / 7x GTX 1070 daily
SUQA coin Mining Pools: https://bsod.pw https://icemining.ca https://beepool.org/coindetail/suqaand for more pools https://discord.gg/ArttaNA
SUQA coin Difficulty: 8824.28235 @ block 22 179
SUQA coin block reward: 5000
SUQA coin Exchange Markets:Suqa coin is now on
Official Exchanges – Check on CoinMarketCap
  1. Escodexhttps://wallet.escodex.com/market/ESCODEX.SUQACOIN_ESCODEX.BTC
  2. Stexhttps://app.stex.com/en/basic-trade/paiBTC/SUQA/1D
  3. QBTChttps://www.myqbtc.com/trade
And Crypto-Bridge is on the wayhttps://wallet.crypto-bridge.org/market/BRIDGE.SUQA_BRIDGE.BTC
Website: https://suqa.org
Whitepaper: https://suqa.org/file/2018/10/suqa-whitepaper.pdf
BitcoinTalk: https://bitcointalk.org/index.php?topic=5038269.0
GitHub: https://github.com/SUQAORG
Twitter: https://twitter.com/SUQAfoundation
Facebook: https://facebook.com/SUQAFoundation
Discord: https://discord.gg/ArttaNA
Author: uk baxoi
profile: https://bitcointalk.org/index.php?action=profile;u=2364181
submitted by mahdi32 to gpumining [link] [comments]

Why NYA is an attack on Bitcoin and why it will fail (long)

I wrote a rather lengthy response to a reddit post that I think is worth sharing, especially for newcomers to dispell some false narratives about S2X and Barry Silberts' New-York Agreement aka hostile takeover attempt of Bitcoin that is doomed to fail.
big block hard-liners wanted block size only, no SegWit.
Which doesn't make any logical sense. A lot of fud was actively being spread about how segwit was unsafe (such as the ANYONECANSPEND fud) but segwit is ofcourse working as intended thanks to the world class engineering of the Bitcoin Core developers. This led to the suspicion that BitMain was behind the opposition of segwit. BitMain miners use "covert AsicBoost" which is a technique that allows their rigs to use less electricity than competing mining equipment. However, segwit introduced changes to Bitcoin that made using covert AsicBoost impossible, which would explain their fierce opposition to segwit. We're talking big money here - the AsicBoost advantage is worth US$ 100 million according to estimates of experts.
After segwit was finalized, the Bitcoin software was programmed to activate segwit but not before 95% of the hashpower signalled to be ready. After all, miners are tasked with creating valid blocks and should be given the opportunity to update their software for protocol changes such as segwit. As a courtesy to the miners, the Bitcoin software basically said: "ok, segwit is here, but I'll politely hold off its activation until 95% of you say that you're ready to deal with this protocol change".
Sadly, mining is heavily centralized, and segwit was never getting activated due to the opposition of a few or perhaps even a single person: Jihan Wu of BitMain. As an aside, the centralization of hash power is also a direct result of AsicBoost. How this works: since AsicBoosted rigs are able to mine more efficiently than their competitors, these rigs drive up the difficulty and with that the average amount of hashes required to find a block. This in turn causes less efficient rigs to mine at a loss because they need to expend more energy to find a block. As a result, BitMain competitors got pushed out and BitMain became the dominant self-mining ASIC manufacturer.
After segwit was finalized, it required 95% of the hashpower to activate but it never gained more than around 30%. So 70% of hash power abused the courtesy of the Bitcoin software to wait until they were ready for activation and refused to give the go ahead. This went on for months and worst case it would have taken until August 2018 before segwit would activate.
let's do a compromise- we do SegWit AND we hard fork
In March 2017 a pseudonymous user called Shaolin Fry created BIP148 which is a softfork that invalidates any block that wouldn't signal segwit readiness starting August 1st 2017. This also became known as the UASF (User-Activated Soft Fork, as opposed to the original miner-activated soft fork that didn't work as intended). This patch saw significant adoption and miners would soon be forced to signal segwit or else see their blocks being invalidated by the network, which would cause them significant financial losses.
In May 2017 so after BIP148, the backroom New-York Agreement (NYA) was created by the Digital Currency Group of Barry Silbert together with businesses in the Bitcoin space such as BitPay and almost all miners. The NYA was the beginning of an outright misinformation campaign.
The NYA was trumpeted to be a "compromise". Miners would finally agree to activate segwit. In return, Bitcoin would hardfork and double its capacity on top of the doubling already achieved by segwit. In reality, BIP148 was already going to force miners to signal the activation of segwit. Also, developers and most users were notably absent in this NYA. So, given that segwit was already unstoppable because of BIP148, the parties around the table had to "compromise" to do something that they all wanted: hardfork Bitcoin to increase its capacity.
Or, is it all in fact really about increasing capacity? After all, segwit already achieved this. Bcash was created which doubled block size as well but without segwit. And then there is good old Litecoin having four times the transaction capacity of Bitcoin and segwit. Plenty of working alternatives that obsolete the need for yet another altcoin. So, perhaps transaction capacity is used as an excuse to reach a different goal. Let's explore.
Apparently after not-so-careful study of the Bitcoin whitepaper, the NYA participants came up with an absurd redefinition of what is "Bitcoin". According to this bizarre definition, they started to claim that Bitcoin is being defined as:
  1. Any blockchain that has the most cumulative hashpower behind it (measured from the Genesis block at the inception of Bitcoin):
  2. Using the SHA256 hashing algorithm;
  3. Having the current difficulty adjustment algorithm (resetting difficulty every 2016 blocks).
Ad 1. Note that it starts with "any blockchain". This also includes blockchains that contain invalid blocks, in other words, blocks that Bitcoin nodes would reject.
This is ofcourse bizarre but it is exactly what the NYA participants claim. It effectively puts all power in the hand of miners. Instead of nodes validating blocks, according to this novel and absurd interpretation of Bitcoin it will be miners that call the shots. Whatever block a miner produces will be valid as long as they mine on top of their own block, because that chain will then have the most cumulative hash power. Nodes become mere distributors of blocks and lose all their authority as they can no longer decide over the validity of a block. MinerCoin is born.
The Bitcoin whitepaper actually mentions this scenario where a majority of the hashpower takes over the network and starts producing invalid blocks and refers to it as being an attack. It is worth quoting this section 8, second paragraph in its entirety:
"As such, the verification is reliable as long as honest nodes control the network, but is more vulnerable if the network is overpowered by an attacker. While network nodes can verify transactions for themselves, the simplified method can be fooled by an attacker's fabricated transactions for as long as the attacker can continue to overpower the network. One strategy to protect against this would be to accept alerts from network nodes when they detect an invalid block, prompting the user's software to download the full block and alerted transactions to confirm the inconsistency. Businesses that receive frequent payments will probably still want to run their own nodes for more independent security and quicker verification." (emphasises mine).
Any doubt left whether "most hashpower wins" is an attack should be removed by a telling remark in the release notes of 0.3.19:
"Safe mode can still be triggered by seeing a longer (greater total PoW) invalid block chain."
As mentioned, miners representing 95% of all hash power participate in the NYA. They are currently expressing their support for the NYA by putting "NYA" inside blocks. The NYA participants intend to remove their hash power from Bitcoin completely and point it towards their altcoin. To double down on their claim that Bitcoin is defined by hashpower, they show some serious audacity by referring to their altcoin as... "Bitcoin". Anyone not part of the NYA refers to their coin as segwit2x, S2X or sometimes 2x.
The NYA participants proceed to proclaim victory. They reason that with all hash power on their blockchain and hardly any left for Bitcoin, "legacy Bitcoin" will be stuck as blocks will be created so slowly that Bitcoin becomes unusable, forcing everyone to switch to the "real" Bitcoin (sic). In other words, it was part of the plan was to remove hash power from Bitcoin to disrupt and force users into their altcoin.
Ofcourse, Bitcoin Core would not just sit idle and let such an attack happen. There are several ways to defend against this attack. As a last resort, an emergency difficulty reset combined with a change in the PoW algorithm can be deployed to get Bitcoin going again.
This is not likely to be necessary however as miners simply can't afford to mine a coin that has a small fraction of the value of Bitcoin. They have large bills to pay which is impossible by mining a coin that has half or even less the value of Bitcoin. In other words, miners would bankrupt themselves unless their altcoin attains the same value as Bitcoin. Given the lack of user, community and developer support it is save to say that this is not going to happen. Their coin will have only a small fraction of the value of Bitcoin and miners have no choice but to continue mine Bitcoin in order to receive the income necessary to pay for their huge operational expenses.
A moment was set for the hardfork: block 494,784 a big block will be produced such that it is invalid for the current Bitcoin network and will discard it.
Ofcourse, some nodes must accept the new, bigger S2X blocks. Therefore, Jeff Garzik (co-founder of a company called Bloq) started out to create btc1 which is a fork of the Bitcoin node software and which is adapted such that it accepts blocks up to twice in size, so that the segwit2x altcoin can exist. Note the 1 in btc1 which refers to their version numbering. Bitcoin Core releases are still 0.x but btc1 is numbered 1.x. This is to send the message that they have released the real Bitcoin that is now no longer a beta 0.x release but a production ready 1.x. This nonwithstanding the fact that btc1 is a copy of Bitcoin 0.14 with some minor changes and without any significant development causing it to quickly fall behind Bitcoin.
The NYA participants go on to claim that when hash power is on the btc1 blockchain, and Bitcoin is dead as a result because no or hardly any new blocks are being created, then the Bitcoin Core developers have no choice but to start contributing to their btc1 github controlled by Jeff Garzik.
In the NYA end state, Bitcoin is a coin of which miners set the consensus rules, and the Core developers sheepishly contribute to software in a repository controlled by Jeff Garzik or whoever pays him.
Needless to say, this is never ever going to happen.
The small block hard-liners are now against 2x and want SegWit only.
There is no such thing as small block hardliners. As is probably clear by now, NYA is not about block size. It is about control over Bitcoin. As a matter of fact, Bitcoin Core has never closed the door on a block size increase. In the scaling roadmap published in December 2015, Bitcoin Core notes:
"Finally--at some point the capacity increases from the above may not be enough. Delivery on relay improvements, segwit fraud proofs, dynamic block size controls, and other advances in technology will reduce the risk and therefore controversy around moderate block size increase proposals (such as 2/4/8 rescaled to respect segwit's increase). Bitcoin will be able to move forward with these increases when improvements and understanding render their risks widely acceptable relative to the risks of not deploying them. In Bitcoin Core we should keep patches ready to implement them as the need and the will arises, to keep the basic software engineering from being the limiting factor."
Bitcoin Core literally says here very clearly that further increases of block size are on the table as an option in the future.
For my personal opinion-
I hope that your personal opinion has changed after taking notes of the above.
submitted by trilli0nn to Bitcoin [link] [comments]

My response to the Dev Fork decision

Since I penned the original Community Fork proposal, I felt the need to address the decision to fork and the medium post attempting to justify the radical departure from what the community sought. The italics are quotes from the post, the following text is mine.

The first several statements are in regard to what happened in January.

The core developers ultimately decided against forking.
--
This statement sets the table by clearly laying out what happened in January with a statement the project is centralized as Nebulous went against the community in not forking then. The same holds true on today's statement.

Decentralization is valuable because there is nobody in control, and we weren’t comfortable releasing an update that threatened to rip the community in half.
--
In other words, we asserted control and made a highly centralized decision to protect the community. It is Orwellian in attempting to explain that war is peace.

ironically the people leaving in the largest droves were those who most aggressively opposed the fork during the earlier debates
--
Even if evidence existed to determine this, it's doubtful. The people most active against the fork were A3 purchasers and those people had ROI to meet. Even if they decided the Discord was a bit toxic, they still fulfilled a role securing the network. The author frequently makes assertions that cannot be defended with fact.

Sia’s biggest supporters and believers were the ones that got hit hardest by the mining catastrophe, and despite this loss, they were also the ones who stuck through the hardest times.
--
What did they lose? Obelisks wouldn't ship for another 9 months. How was it a catastrophe? Was the network ever at risk? The use of hyperbole here is indicative of the lack of a serious argument.

They (innosilicon) have the only 14nm miner on the market, and as such they have the only rig capable of competing. Without competition, there is no price pressure, and it seems that there is close to, if not above, a 100% markup on their hardware. For every machine that gets sold, Innosilicon makes enough profit to produce a machine for themselves to mine.
--
The suggestion is that a highly competent manufacturer fairly competing to create the best possible solution is somehow in the wrong. It then goes on to suggest that gaining a financial reward for being highly competent is somehow wrong and further intimates the profits must be reinvested into working the Sia chain. In fact, Innosilicon didn't have an overly large hashrate until the discussion of a fork seemed inevitable. It seems reasonable they dumped the totality of their inventory online because they would not be able to sell them once a fork occurred. Arguing against capitalism and the freedom to earn profits is a dangerous slope, perhaps revealing underlying political motivations of the author.

For an ASIC that is going to obsolete existing hardware, margins can be anywhere from 50% to 100%. The story is different however for ASICs that intend to compete without being strong enough to become the new monopoly. For these machines, margins are likely to be less than 25% because the presence of competition heavily forces prices downwards.
--
The argument here is to somehow seek to fight Moore's Law. Just as GPUs defeated CPUs and ASICs defeated GPUs, the strongest ASICs will prevail. There are several manufacturers that can be sought out to compete if the result is a single dominant model. More importantly, Innosilicon sells the majority of it's mining rigs to decentralize the hashrate. A single dominant manufacturer does not guarantee or even make more likely the hashrate will centralize. Finally, seeking to protect less than competent or financially competitive manufacturers runs counter to much of the Satoshi manifesto.

When a manufacturer is also a miner, there is an incentive against manufacturing and selling more machines.
--
The Bitmain financials clearly show the company makes the overwhelming amount of their profitability on miner sales, not mining. This is likely true for nearly all coins as mining quickly becomes close to breakeven. Even the author later admits the margins on hardware make for a lucrative business model.

High manufacturer diversity is currently limited by the extreme barriers to entry...we like to see manufacturers that share the knowledge and encourage a vibrant competitive environment.
--
In no industry that I am aware of is sharing of proprietary knowledge common and especially not in highly competitive and extremely capital intensive industries. It's beyond naive to believe this should be a goal. The post continues with other hurdles that no rational enterprise would accept without some sort of regulatory framework. It cannot be fairly policed as we are seeing here. The author has made several statements based on conjecture and formulated a punishment with the entities having no rights of appeal or even an advance guideline to follow that would have avoided the issues.

For the Sia network, an important line was crossed when secret ASIC projects superseded a public project that had substantial community investment.
--
This may be accurate to the author but such a line was never laid out for the public and as such, crossing it cannot be penalized unjustly.

Sia did not fork initially because there was a lot of confusion, a lot of emotion, and a great fear that the heavy conflicts of interest would cause the development team to make the wrong decision. Since then, there has been time for emotions to cool, for level heads to prevail, and for a second community fork proposal to come forward. Unlike the first fork proposal by the community, this second proposal experienced widespread support and virtually no opposition at all from regular members of the community.
--
This is accurate in stating the Community Fork proposal enjoyed widespread support. it is totally off base in suggesting the Dev Fork even resembles the CF. This is using the community as a human shield due to the overwhelming lack of an argument. My guess is that the Dev Fork would not meet with anything near the kind of support the CF enjoyed.

Sia is forking today to reprimand the current ASIC monopoly for the damage it did to the Sia community, to make whole the supporters of Sia’s community ASIC project, and to send a clear message to all future Sia ASIC manufacturers: we will not tolerate an abusive ASIC monopoly.
--
Which is sort of a heavy handed way of saying there is one final boss at Sia and you made him mad to the point that he must now "reprimand" you. The items characterized as abusive were never outlined in advance and are highly debatable as to whether they actually are abusive, but again, Final Boss.

We fully expect that the 28nm Obelisk ASICs will be replaced by a 16nm chip from another manufacturer, who will become the new manufacturing monopoly for Sia... the Sia community is not afraid to take action a second time to break a parasitic or abusive ASIC monopoly.
--
Hopefully any manufacturer understands the shifting sands that exist within the Sia leadership could decide virtually any action to be harmful as there has been zero harm done up to now. There have been no attacks, no overt centralization and plenty of supporters own/mine with these company's devices.

Sia is an ungoverned blockchain. There is no built-in mechanism on the Sia network to change the consensus rules, and there is no mechanism in the software that the developers can use to force people to upgrade. The only way that Nebulous can encourage a fork is to release new code, and then encourage people to upgrade.
This leaves people with the opportunity to reject the upgrade, and to instead continue using the old software and the old blockchain. If enough people rally around the old software, there could be a network split, and Sia could divide into two blockchains, in the same way that Ethereum split into Ethereum and Ethereum Classic, and in the same way that Bitcoin became Bitcoin and Bitcoin Cash.
At Nebulous, we view these cryptocurrency splits as one of the most powerful innovations of the blockchain space. Under traditional governance structures, a single decision gets made and everyone has to live with that decision. But when the network is able to split, you can get solutions where two groups of people with incompatible demands can both get what they want.
We will be structuring the Sia hardfork code to enable a group of dissenters to easily split off and be on a separate blockchain where the hardfork was never implemented. The hardfork will be released as its own release, v1.3.6, where the only code updated is a handful of lines of code + tests required to implement the hardfork. The code will be implemented in a way that easily allows a dissenting group to remove the hardfork code and yet continue merging changes that are made to the primary Sia repo. So long as the siafund ownership is maintained on this fork, members of the dissenting community will be welcome in the Sia community, on the Sia discord, on the subreddit, and will be able to receive support and help directly from the Nebulous support staff.
Perhaps the most amazing thing about a potential Sia network split is that all users will be able to continue to use their current files that they have on Sia. Uploads and downloads will continue to work, no matter what side of the split you are on, and so long as the minority side of the split has enough hosts (50–80 is what most users will require), the repair mechanisms of the Sia network will be able to repair your files from across both networks and ensure that your files continue working into the future. If the minority side of the fork does not have enough hosts, users will have time (most users will have several weeks) after the split to download their files and find an alternative way to back them up.
--
These paragraphs are simply amazing. The author appears to be goading people resistant to his iron control over the project to continue the legacy chain. While this makes sense if you are simply building a protocol and have no interest in marketing and selling the tech to say, Fortune 1000 companies, it is a terrible message if you do plan to. You are seeking community schism, making a competitive environment for hosting when hosting is already horribly unprofitable and seeking to sow chaos in how the network evolves into the future. The logical approach would be to let dedicated foes seek out the info on their own if there is a desire to work the legacy chain, not encourage it. It continues to show the author, while a strong technologist is a weak business individual.

we like to see is low margins for miners and manufacturers. When there are high margins, at least one player (the benefactor of the high margins) is able to acquire hashrate more cheaply than everyone else, and therefore is able to more easily attack the network.
--
What is the evidence and argument here? That people with more money are more able to attack? People with large trust funds are equally likely to be more able to attack. High profit margins simply indicate a competent agency, nothing more.

ASIC manufacturers ultimately exist to serve the network, and specifically to protect the network against 51% attacks.
--
ASIC manufacturers exist to serve their customers, full stop. They have no role or responsibility to the network at all. Increasing a circle of responsibility to an entity with no control over how their products are used is silly.

Overall, I am disappointed the team chose to ignore the Community Fork proposal in order to run their own fork. But, this is a Nebulous project and ultimately they can do whatever they want. They cannot assert decentralization though and very little about this current action suggests there is a long term goal of decentralization. Decisions to exclude some faction today will most certainly arise down the road as the team concludes that certain storage customers or developers or vendors are unacceptable for various reasons. This hasn't even discussed the awkward part of the equation where Obelisk is owned by the author and stands to gain now and in the future when more powerful, 2nd gen ASICs can be created and no outside manufacturers wanting to risk losing on the Sia project.

The point of the post is to attempt to continue to get Mr. Vorick to recognize the issues with his sole governance of the Sia project. Even the most ill-willed posts from various authors have a goal of improving the project. It is hoped that at some point, Vorick will recognize his project is stronger with community participation, even to the point of going along with community desires sometimes even if it runs counter to his own desires. There is value in learning to negotiate. You learn what to give away and what is sacrosanct. In the end, the project will grow much stronger and there will be copious numbers of supporters ready to do battle against the hyper-competitive world of cloud storage.
submitted by FaustianAGI to siacoin [link] [comments]

Decred Journal – July 2018

Note: you can read this on Medium, GitHub or old Reddit to view all the links

Development

dcrd: Several steps towards multipeer downloads completed: an optimization to use in-memory block index and a new 1337 chain view. Maintenance: improved test coverage, upgrading dependency management system and preparing for the upcoming Go 1.11 release.
dcrwallet: A big change introducing optional privacy-preserving SPV sync mode was merged. In this mode dcrwallet does not download the full blockchain but only gets the "filters", uses them to determine which blocks it needs and fetches them from random nodes on the network. This has on-disk footprint of 300-400 MB and sync time of minutes, compared to ~3.4 GB and sync time of hours for full sync (these are rough estimates).
jy-p: the server side of SPV (in dcrd) was deployed in v1.2.0, the client side of SPV (in dcrwallet) is in our next release, v1.3.0. Still some minor bugs in SPV that are being worked out. There will be an update to add the latest features from BIP 157/158 in the next few months. SPV will be optional in v1.3.0, but it will become the default after we get a proper header commitment for it (#general)
Decrediton: besides regular bugfixes and design improvements, several components are being developed in parallel like SPV mode, Politeia integration and Trezor support.
Politeia: testing started on mainnet, thanks to everyone who is participating. A lot of testing, bugfixing and polishing is happening in preparation for full mainnet launch. There are also a few missing features to be added before launch, e.g. capacity to edit a proposal and versioning for that, discussion to remain open once voting starts. Decrediton integration is moving forward, check out this video for a demo and this meta issue for the full checklist.
Trezor: Decrediton integration of initial Trezor support is in progress and there is a demo.
Android: app design version 2.0 completed.
dcrdata: development of several chart visualizations was completed and is awaiting deployment. Specifically, voting agendas and historic charts are merged while ticket pool visualization is in testing.
atomicswap: @glendc is seeking reviews of his Ethereum support pull request.
Dev activity stats for July: 252 active PRs, 220 master commits, 34,754 added and 12,847 deleted lines spread across 6 repositories. Contributions came from 6-10 developers per repository. (chart)

Network

Hashrate: the month started at 40.5 and ended at 51.6 PH/s, with a low of 33.3 and a new all time high of 68.4 PH/s. F2Pool is leading with 40-45%, followed by the new BeePool at 15-25% and coinmine.pl at 18-23%.
Staking: 30-day average ticket price is 92.6 DCR (-2.1). The price started the month at 94.6 and quickly retreated to month's low of 85 until 1,860 tickets were bought within a single period (versus target 720). This pushed the pool of tickets to 41,970 (2.5% above target), which in turn caused 10 price increases in a row to the month's high of 100.4. This was the highest ticket price seen on the new ticket price algorithm which has been in effect since Jul 2017. Second half of the month there was unusually low volatility between 92 and 94 DCR per ticket. Locked DCR held between 3.75 and 3.87 million or 46.6-48.0% of supply (+0.1% from previous peak).
Nodes: there are 212 public listening and 216 normal nodes per dcred.eu. Version distribution: 67% on v1.2.0 (+10%), 24% on v1.1.2 (-1%), 7% on v1.1.0 (-7%). Node count data is not perfect but we can see the steady trend of upgrading to v1.2.0. This version of dcrd is notable for serving compact filters. The increased count of such full nodes allows the developers to test SPV client mode in preparations for the upcoming v1.3.0 release.

ASICs

Obelisk posted three updates in July. For the most recent daily updates join their Discord.
New miner from iBeLink: DSM7T hashes Blake256 at 7 TH/s or Blake2b at 3.5 TH/s, consumes 2,100 W and costs $3,800, shipping Aug 5-10.
There were also speculations about the mysterious Pangolin Whatsminer DCR with the speed of 44 TH/s at 2,200 W and the cost of $3,888, shipping November. If you know more about it please share with us in #pow-mining channel.

Integrations

Meet new stake pool: dcrpool.ibitlin.com has 1% fees and is hosted by @life.
An interesting detail about decredbrasil.com stake pool was posted in chat:
emiliomann: stakebrasil is one of the pools with the lowest number of missed and expired tickets. It was one of the first and has a smaller percentage than the most recent ones who haven’t had the time to do so. (...) The Brazilian pool should be the one with the more servers spread around the world: 6 to decrease the latency. This is to explain to you why the [pool fee] rate of 5% (currently around 0.06 DCR) on the reward is also one of the highest. girino: 8 voting wallets now. I just finished setting up a new one yesterday. All of them in different datacenters, 3 in europe, 3 in north america, 1 in brazil and one in asia. We also have 3 more servers, 1 for the front end, one for "stats" and one for dcrdata. (#general)
On the mining side, Luxor started a new set of pool servers inside mainland China, while zpool has enabled Decred mining.
StatX announced Decred integration into their live dashboard and public chat.
Decred was added to Satowallet with BTC and ETH trading pairs. Caution: do your best to understand the security model before using any wallet software.

Adoption

VotoLegal update:
Marina Silva is the first presidential candidate in Brazil using blockchain to keep all their electoral donations transparent and traceable. VotoLegal uses Decred technology, awesome use case! (reddit)
The story was covered by criptonoticias.com (translated) and livecoins.com.br (translated), the latter received hundreds of upvotes and comments on brasil.
On the OTC trading front, @i2Rav from i2trading reports:
We continue to see institutional interest in DCR. Large block buyers love the concept of staking as a way to earn additional income and appreciate the stakeholder rights it affords them. Likening a DCR investment to an activist shareholdebondholder gives these institutions some comfort while dipping their toes into a burgeoning new asset class.

Marketing

Targeted advertising reports released for June and July. As usual, reach @timhebel for full versions.
Big news in June: Facebook reversed their policy on banning crypto ads. ICO ads are still banned, but we should be OK. My team filled out the appeal today, so we should hopefully hear something within a few days. (u/timhebel on reddit)
After couple weeks Facebook finally responded to the appeal and the next step is to verify the domain name via DNS.
A pack of Stakey Telegram stickers is now available. Have fun!

Events

Attended:
Upcoming:

Media

Featured articles:
Articles:
Some articles are omitted due to low quality or factual errors.
Translations:
Videos:

Community Discussions

Community stats:
Comm systems update:
Articles:
Twitter: Ari Paul debates "There can be only one" aka "highlander argument".
Reddit and Forum: how ticket pool size influences average vote time; roadmap concerns; why ticket price was volatile; ideas for using Reddit chat for dcrtrader and alternative chat systems; insette's write-up on Andrew Stone's GROUP proposal for miner-validated tokenization that is superior to current OP_RETURN-based schemes; James Liu's paper to extend atomic swaps to financial derivatives; what happens when all DCR are mined, tail emission and incentives for miners.
Chats: why tickets don't have 100% chance to vote; ideas for more straightforward marketing; long-running chat about world economy and failure modes; @brandon's thoughts on tokenizing everything, ICOs, securities, sidechains and more; challenges of staking with Trezor; ideas how to use CryptoSteel wallet with Decred; why exchange can't stake your coins, how staking can increase security, why the function to export seed from wallet is bad idea and why dcrwallet doesn't ever store the seed; ticket voting math; discussion about how GitHub workflow forces to depend on modern web browser and possible alternatives; funding marketing and education in developing markets, vetting contractors based on deliverables, "Decred contractor clearance", continued in #governance.
#dex channel continues to attract thinkers and host chats about influence of exchanges, regulation, HFT, lot sizes, liquidity, on-chain vs off-chain swaps, to name a few topics. #governance also keeps growing and hosting high quality conversations.

Markets

In July DCR was trading in USD 56-76 and BTC 0.0072-0.0109 range. A recovery started after a volume boost of up to $10.5 m on Fex around Jul 13, but once Bitcoin headed towards USD ~8,000 DCR declined along with most altcoins.
WalletInvestor posted a prediction on dcrtrader.
Decred was noticed in top 10 mineable coins on coinmarketcap.com.

Relevant External

One million PCs in China were infected via browser plugins to mine Decred, Siacoin and Digibyte.
In a Unchained podcast episode David Vorick shared why ASICs are better than GPUs even if they tend toward mining centralization and also described Obelisk's new Launchpad service. (missed in June issue)
Sia project moved to GitLab. The stated reasons are to avoid the risk of depending on centralized service, to avoid vendor lock-in, better continuous integration and testing, better access control and the general direction to support decentralized and open source projects.
Luxor explained why PPS pools are better.
@nic__carter published slides from his talk "An Overview of Governance in Blockchains" from Zcon0.
This article arguing the importance of governance systems dates back to 2007.
Bancor wallet was hacked. This reminds us about the fake feeling of decentralizaion, that custody of funds is dangerous and that smart contracts must have minimum complexity and be verifiable.
Circle announced official Poloniex mobile apps for iOS and Android.
On Jul 27 Circle announced delisting of 9 coins from Poloniex that led to a loss of 23-81% of their value same day. Sad reminder about how much a project can depend on a single centralized exchange.
DCR supply and market cap is now correct on onchainfx.com and finally, on coinmarketcap.com. Thanks to @sumiflow, @jz and others doing the tedious work to reach out the various websites.

About This Issue

This is the 4th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Chat links were changed to riot.im from the static web viewer that suffered from UX issues (filed here and here). We will consider changing back to the static viewer once they are resolved because it does not require javascript to read chat logs.
In the previous issue we introduced "Featured articles". The judgement is subjective by definition, if you feel unfairness or want to debate the criteria please check this issue.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room.
Contributions are also welcome, some areas are adding content, pre-release review or translations to other languages.
Credits (Slack names, alphabetical order): bee, Haon and Richard-Red.
submitted by jet_user to decred [link] [comments]

Bitgrin - WHO I AM - introduction for new miners & investors

Bitgrin - WHO I AM - introduction for new miners & investors


https://preview.redd.it/y1nyrhkmoj731.png?width=298&format=png&auto=webp&s=93a62ae0fa7614dcc538e1ace8756a0857fae63f

Bitgrin is a privacy focused cryptocurrency on a protocol level based on MimbleWimble and a fork of GRIN coin.
This is about freedom from censorship and the banker regime.
The technology of Grin meets the economics of Bitcoin, for the worlds first
- private,
- scalable,
- decentralized currency with sound economic model (limited supply)

If you're not clear on what i mean by scalability: Bitcoin has a 240 GB blockchain. Ethereum has a 1TB blockchain. BitGrin will stay below 1GB due to the way old transactions get compressed and pruned
that means i can put a full node on your phone, not just a light wallet but a true full node

Bitgrin mainnet launched the 8th of February 2019

Ticker: XBG
Block time: ~60s
Block reward: 4.5 XBG
Next Halvening: Block 2,102,400
Supply: 21,000,000

==========================================================
LINKS
We dont need a central authority declaring stuff official, we need grass-roots support

Website: https://bitgrin.dev/
ANN: https://bitcointalk.org/index.php?topic=5104608.0
Github: https://github.com/bitgrin/bitgrin
Emission Schedule: https://bitgrin.dev/comparision-of-emission/
Latest Kingfish releases : https://github.com/bitgrin/kingfish/releases
Explore : https://explorer.bitgrin.dev/

Discord : https://discord.gg/Nd5BazK
Twitter : https://twitter.com/Bitgrin
Reddit : https://www.reddit.com/xbg

==========================================================


Purpose of MimbleWimble is that no one can see your coins or who you sent them too, while still knowing coins are valid.
This is a huge deal in privacy, and we wish that Bitcoin had that from beginning.

But looks like we have a 2nd chance now. Grin failed that in our eyes with horrible economics


==========================================================
TEAM

Our team is anonymous that won't change
We've got a small team who has been in blockchain dev since around 2011 as well as application developers, good at making things user friendly.
This all started because we were working on the Kingfish wallet which was a Grin wallet, and some miner software for Grin. The tech was very cool, but then this emission schedule and the attitude of the core devs made us realize their priorities wrong.
So Kingfish partners joined bitgrin team. Many of us on the original team were not happy with the economic decisions.
We're actually pretty active in Grin Core team chat.

==========================================================
WHAT IS BITGRIN

BitGrin is a store of value, designed to be easy to use
Bitgrin share the same halvening schedule as BTC. Half as many rewards every 4 years. 4.5 coins per block, and then 2.25 after halving, and so on.

So theres really 3 things we bring to the table
  1. We create an economic incentive for folks to hold there coins with halvenings. This means the coin acts more as a store of value.
  2. We create a dev fee so we don't have to be like the Grin team and beg for donations. We'll take modest salaries to keep things running clean
  3. We are building super simple user friendly tools on top of the protocol so that in time the average user can simply pull out a phone and work with XBG coins

BitGrin makes transactions completely private, hiding the amount of coins a user owns, how many have been sent, and to whom they were sent.

Transactions are blinded, which means no-one can prove that coins have been sent at all!

BitGrin is private by design, even the developers don't know who is sending or receiving coins.

But how does it all actually work?
BitGrin is governed by the laws of mathematics, exploiting some very simple properties of addition and multiplication.
Elliptic curve cryptography is at the root of what keeps BitGrin (and Bitcoin) secure. The standard is also used by countless military, banking, and even government operations. Elliptic curve cryptography is a method of utilizing a secure curve to produce privately known numbers These extremely large numbers are nearly impossible to guess, but can be proven to have been generated by someone with knowledge of their private key.

Let me walk you through the process.
First, a user picks a really, really, really large number. Then they multiply it with the starting point on the curve.
The resulting coordinates on the curve are your public key and that really, really big number is your private key!
You can now securely encrypt values utilizing your private key, and publicly share your encrypted messages along with your public key. Other users in the world can *prove* that you must have knowledge of the correct private key, without them knowing what it is.

And this is the bedrock of almost all cryptography. It keeps the whole world secure!
The trick here is that it's pretty easy to get the coordinates of your public key, but it's nearly impossible to discover another user's private key.

A simple analogy for elliptic curve cryptography
Knowing just the public key is like knowing the location of an indestructible box, with the world's most complicated lock. Without the private key, it is impossible to access it's contents.
This is where, for example, Bitcoin's security model ends.
BitGrin, on the other hand, goes a few steps further.
BitGrin hides your even your *public* key. So now no one even knows *where* your indestructible box is.
This means that no one can see how many coins you have, who you are sending coins to, or how many you have received.
All of this is accomplished using just a few additional mathematical tricks.

How Bitcoin transactions work
To further explain, let's first talk about how Bitcoin transactions work.
Lett’s say you, a Bitcoin user, want to send some funds to another user. You would announce publicly to the network your public key, the amount of coins you would like to send, and proof that demonstrates you are indeed the owner of these coins.
You can see the problem here.
If someone goes through the history of the blockchain, they can clearly see who you received the coins from, who you are sending them to, how many were sent, and even how many you have.
You don't really want people knowing all of that information, do you?
Do you share your bank statements with everyone? Of course not.
Now... How can we fix this? How can we make transactions more private?

How BitGrin transactions work
Let's go over a BitGrin transaction...
BitGrin transactions are completely different than Bitcoin transactions, You can think of them as just a blank credit card with no name, just the number, and everyone who knows this number can spend money with it.
What the blockchain holds is just a list of these "cards", while obscuring the amounts in them, and who is in possession of them, or even who had contents in them prior.

Let's say for example I want to send you three BitGrin.
What we need to do now is prove that I own a credit card (or multiple cards) with the total of at least 3 coins.
We also need to create a new card for you. One whose number is only known by you.
First, I send you a message via a secure channel in between our wallets.
"Hey, I want to send you 3 coins. Here's proof I own at least 3. I'll also pay the fee."
You receive the message and you can compute your part of what it takes to make a new card. Then you send me back the proof that you know the new credit card number,
while not revealing the number to me, by using a special type of encryption.
Next, you send me a very very big number you choose to obscure the amount of coins by moving them by this amount on the elliptical curve.
Then, add to it a public key of the credit card number, made with another operation on the graph.
This will prove you own the coins, without either user revealing their private keys.

Finally, I add the number of coins to the very big number you chose.

We can prove the number of coins didn't change because 5-5 is 0. This is validated by the network to prevent coins from being created out of thin air.
And 5 plus the BigNumber, minus 5 plus the BigNumber, is also zero. By adding a hidden big number known only to us, we hide the amount from everyone else.
I combined all these details together into one large commitment, and then submit it to the BitGrin network.
Now the network needs to validate that no new coins were created and that your new card is valid. This is all done with simple mathematics, and is completely secure.
You now received your money! While it may sound like a long process, all of it is done within less than 1 second from the BitGrin wallet.
Want to spice things up? Generate invoices, transact using QR codes or send it by pigeons!

We're not done yet. This is not all that BitGrin improves.
As you may know, BitCoin transactions can take a very long time to be confirmed, and running a Bitcoin node is a very computer-intensive process.
BitGrin on the other hand is both fast, and extremely scalable! The majority of spent transactions get removed, making the blockchain much smaller than traditional blockchains.
This is done by miners in every block, as well as the entire blockchain over time.

Soon, everyone will be able to download the entire blockchain and synchronize it within seconds or minutes, even on a low powered mobile device or a payment terminal at the local checkout.

With further work and research, BitGrin will improve even more, enabling truly private, scalable digital cash to see mass adoption.

==========================================================
TEAM VISION

- Goal to be simple for end user
Crypto is super hard to use, keeping your money private is impossible. Bitgrin solves those problems making the latest scientific breakthroughs in cryptography, usable by everyone, all while being built on robust bitcoin economics. Bitgrin paves the road to mass adoption
there is a lot of confusion about what crypto is for many folks think it is a way to make money by buying new coins and selling as they mature
ignoring the central idea of decentralized money.
Grin folks invented a better BTC, and then proceeded to apply infinite inflation for reasons I can't explain it's decentralized, lightweight, and fast
but you can't just mint 1 new coin every second, thats not sound monetary policy even USD doesnt do anything that extreme
and yet the buying power of USD falls, even with their small inflation schedule and we already know a schedule that seems to work: the Bitcoin schedule
so why not use this in combination with the lightweight blockchain approach of Grin?
Lightning Network doesnt solve BTC problems, because settlement is important, and scale means fees.
Bitgrin solves all of these problems by offering a truly lightweight settlement layer, with no arbitrary P2P layer on top

__________A few words about others MW coins_____________
Grin has Grin economics: infinite coins forever which is kind of insane, Grin could have easily just limited their supply but they refuse to do that.
Our key differentiator is our economically sound emission schedule
Beam and BitGrin are working towards the same kind of thing, or at least our goals are more in line than they are with the Grin team. Our approaches are pretty different, from a technology perspective though. I fully expect all three projects to coexist and hopefully make each other better
Being “non corporate” isn’t necessarily good. To some degree it’s useful to have profits, a core team, etc
But if it’s too corporate (Beam) then your whole organization is susceptible to issues of centralization such as being shut down by the government.
The decentralized nature of the software prevents that to some extent, but nothing beats being driven by a team of anonymous contributors. That is true censorship resistance. It’s a feature, not a bug.
But we don’t need them to lose for us to win, we can win together, I believe a symbiotic mutually beneficial relationship is ideal with the Grin team.

==========================================================
PREMINE

1M coins are put in to height-locked contracts
about 20k released per month, starting next March 2018
so at launch, dev team has 0 coins
10% for 4 yrs, which amounts to 4% of total supply over time
Just a reminder that the dev fee is quite modest. It’s not like we are holding 90% of the supply like ICOs like to do
1mln pub const DEV_FEE_TOTAL: u64 = 1_000_000; // 1M coins to match Satoshi's Bitcoin holdings >> line 58 https://github.com/bitgrin/bitgrin/blob/mastecore/src/consensus.rs
Payouts are staggered over 4 years by the smart contract
I think as far as the community goes, what you would WANT is developers who are paid for success in the same terms they would expect success as buyers/miners.

==========================================================
FUTURE

It took a lot of work to know what to change, and to understand GRIN codebase and then the generatioin of the genesis block wasnt documented
or it was, but it was incorrect.
Getting seed nodes up and running, making the miners work thousands of little details
BitGrin in particular also has rollback protection
Uses block hash checks to make sure the chain stays stable
BitGrin in particular also has rollback protection
Uses block hash checks to make sure the chain stays stable
Also worth noting this is something added by us. Grin doesn’t support block hash checking
It’s not possible to rewrite any meaningful amount of the chain through a 51% attack. Those attacks are quite limited in exclusively abusing double spend
The team is currently working on porting the entire codebase to be web friendly for web wallets, and offline/non-interactive transactions using BitGrin addresses
basically we want to include a tx pool so users dont need to share ips/files, and can simply use disposable "addresses".
A major improvement with we call XBGJS. This will include tools for other devs to make working with BitGrin easier
Adding non-interactive transactions will be a major improvement

==========================================================
MINING
It's compatible with all grin miners
so any grin miner that works with Grin will also work with BitGrin

==========================================================
ASICS
Community will make those decisions when it comes to it, there is time till end of 2019.
We can fork in to a different PoW, as needed.

There are ongoing discussion about it on discord

==========================================================
COMMUNITY
We dont need a central authority declaring stuff official, we need grass-roots support

Website: https://bitgrin.dev/
ANN: https://bitcointalk.org/index.php?topic=5104608.0
Github: https://github.com/bitgrin/bitgrin
Emission Schedule: https://bitgrin.dev/comparision-of-emission/
Latest Kingfish releases : https://github.com/bitgrin/kingfish/releases
Explore : https://explorer.bitgrin.dev/

Discord : https://discord.gg/Nd5BazK
Twitter : https://twitter.com/Bitgrin
Reddit : https://www.reddit.com/xbg

=========================================================

There is no coin other than bitgrin that has true privacy, scalability, and limited supply it doesn't exist.

I say the more the merrier, this is about growing MW and it’s ecosystem, not about one coin “beating” the other.

But either way competition is healthy, let’s see where this road leads.

Competition is needed for innovation to keep up at a high pace.

Aren't you as excited about that as we are? Join us. Let's change the world !
submitted by Akyr35 to xbg [link] [comments]

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