Bitcoin Mining: Wird es sich 2020 für dich rentieren?
Bitcoin Mining: Wird es sich 2020 für dich rentieren?
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12-20 15:24 - 'There is mining rental. [link] / You legitimately rent some hashrate and point it to a pool. It's not profitable. Can be used to test something, buying like 6 hours of miner time.' by /u/jenny82ishere removed from /r/Bitcoin within 399-409min
''' There is mining rental. [link]1 You legitimately rent some hashrate and point it to a pool. It's not profitable. Can be used to test something, buying like 6 hours of miner time. ''' Context Link Go1dfish undelete link unreddit undelete link Author: jenny82ishere 1: www.mini*g*igren**ls.*o* Unknown links are censored to prevent spreading illicit content.
Hello Reddit! I'd like to welcome you all to try Foreman, our miner management platform. Site: https://foreman.mn/ Demo: here What we offer:
Hash rate monitoring
Remotely change ASIC miner pools
Remotely reboot ASICs
Earnings reporting without needing to provide your wallet addresses
Centralized pool metrics
Alerting when things go wrong
ASIC and GPU support
NiceHash, MiningRigRentals (and AutoMiner), and ProHashing integration
HiveOS, nvOC, Linux, and Windows support
What we support: (user request driven - you ask, we add support) ASICs and FPGAs:
ccminer (and forks)
sgminer (and forks)
suprminer (and forks)
If you're still with us, check us out. Fully free for 30 days! If you have any questions, don't hesitate to hop on our Discord. BitcoinTalk: here Medium: here Twitter: here Open-source: here Happy Mining, The Foreman Team
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 onhttps://stealthex.io/blog/2020/07/28/mining-today/
Thai Nhat Minh | Stably: First of all, can you have a brief introduction about yourself as well as about Chromia? Henrik_hjelte, Sergelubkin Henrik Hjelte: Hello. My name is Henrik Hjelte. I am Co-Founder and CEO of Chromia. I have more than 30 years of experience in programming and a degree in Economics from Uppsala University. BTW economics and computers = blockchain, so finally found a job that fits me. I was introduced to the blockchain by the leader of the colored-coins project Alex Mizrahi in 2013 Colored coins project was a very influential thing It was the first way for user created tokens bolted on to the only blockchain at the time (almost) bitcoin We started ChromaWay 2014, with Or Perelman too, to explore if the world was interested in “tokens” and those kind of applications We worked with enterprise blockchain for some time, but now we are focused on Chromia, a new public platform for mainstream decentralized applications using relational blockchain technology. Ok, maybe I should tell something about Chromia and not myself too. Chromia is a better blockchain for building decentralized Apps. better because it follows the “normal worlds” way of managing data. A little history: I found a text/description to paste: Chromia is a brainchild of ChromaWay. ChromaWay has a long record of delivering pioneering projects around the world. We issued Euros on the Bitcoin blockchain with LHV bank, allowed investors to invest in startups in a wholly decentralized way with Funderbeam, digitized the title transfer process with the Swedish land registry, and mediated the green bond market. ChromaWay’s core team created the world’s first protocol to issue tokens already in 2012, when blockchain was called “bitcoin 2.0”. Then ChromaWay introduced the relational model to enterprise blockchains with a consortium database called Postchain. Now Postchain is going public as the foundation for Chromia, a better blockchain for building decentralised Apps. Chromia is a new public blockchain based on the idea of integrating traditional databases, Relational databases with blockchain security. Chromia is a general purpose blockchain with full smart contract capabilities, just that it is a lot easier to code, even complex applications. You code with an easy to learn new programming language that combines the power of SQL and normal languages but makes it secure in a blockchain context. Up to 1/10 the code-lines vs other blockchains. If you don’t believe me, check this blog (later, stay in the chat): https://blog.chromia.com/reasons-for-rell-compactness/ The aim of Chromia is to combine relational databases, which exist in every kind of organization, with blockchains. We want to provide a platform for our users to develop totally decentralized apps securely. Our goal is for Chromia to be seen as the number one infrastructure for decentralized applications. Think about it: blockchain is about managing data (in a shared context). And… What do we use to manage data? A Database! Serge: Sure! My name is Serge! And I work in Chromia marketing department. Also, I help coordinate various projects inside the company My background is in Economics and Marketing Thai Nhat Minh | Stably: Question 1️⃣ DApp is currently mainly concentrated in the field of games, and its life cycle is basically short, just like the Crypto Kitty is only hot for a while, how to dig the application of DApp in more fields and how to improve the utilization rate of DApp? u/henrik_hjelteu/sergelubkin Serge: Good one, let me answer Gaming is quite a challenging target because good UX is expected, it needs to be fast, responsive, etc. If we can do that, then we can also do all sorts of other stuff. Also, it lets us experiment with things without a lot of hassle, it’s easier to get users, and so on. It’s also a growing niche within blockchain. You can check our latest game, Mines of Dalarnia https://www.minesofdalarnia.com We also have Enterprise projects already, for example Green Assets Wallet https://greenassetswallet.org/about that already launched on the first Mainnet version called Bootstrap Net,we also have https://capchap.se built on our tech, more projects like non-profit review platform Impactoria, public land registries, medical projects and so on Also don’t forget about our fully decentralized social network/forum that is live already on the testnet https://testnet.chromunity.com. Thai Nhat Minh | Stably: Question 2️⃣ How will dapp face the world change after the epidemic? u/henrik_hjelteu/sergelubkin Henrik Hjelte: Nobody can say for sure, but maybe people will tend to be online more than offline, so demand on online products and dapps as well will increase. I just came in from an internal demo of a secret project we do, and it can be seen as a way to hang out online (a bit cryptic answer) There are also interesting use cases of dapps in the medical field. For example, we participated in the world-wide hackathon Hack for Sweden. Where our submission was to create an app on Chromia blockchain that increases the coordination between countries and hospitals especially during the hard time and COVID19. Chromia wants to help the European Union (and the world, but we saw problems in the EU…) and its citizens to provide transparency over the necessary medical and protective devices and appliances of which we see shortage during this emergency crisis. You can watch our promo here https://twitter.com/chromaway/status/1247557274337447938?s=20. For me it was a fun Hackathon too because for once I got the opportunity to code… I told everyone else I will not do any bossing… We try to continue this path on medical applications a bit. Thai Nhat Minh | Stably: Question 3️⃣ DApps are still not directly embedded in mobile phones like Apps at this moment, and DApps have also been flooded with bet content. How can guests increase the use of DApps and lower the threshold for using DApps? u/henrik_hjelteu/sergelubkin Serge: The answer is — better User Experience. We believe that in order for a DApp to be usable and become more widely accepted it has to feel like a normal App. A DApp needs to have quick transactions, scale well & shouldn’t require users to pay for each transaction. This is something that is possible now with using Chromia. It’s an extremely exciting time since we are going to see a new generation of DApps. On top of that, we think that we might have an ace coming up. We have built a game to demonstrate the powers and possibilities of Chromia. A little bit about the game: In Mines of Dalarnia (https://www.minesofdalarnia.com), players get to explore the vast expanses of interplanetary treasure mines. With an innovative Dalarnia Token system, players can purchase virtual mining plots, and put them up for rent into the community, allowing for real-estate tycoons to earn more Tokens. Mining plots can also undergo their own upgrades, making them more lucrative to explore, as well as a hot property for rental by miners. The game takes advantage of these NFT-based tokens to securely track exchanges, and provide a sense of ownership and wealth to players as they grow their mining and resource empire. Watch our trailer https://youtu.be/bDXKOp1Asqw and sign-up for the TestNet on the website! Thai Nhat Minh | Stably: Question 4️⃣ Many practitioners think that the main reason for restricting the development of DApp is “incomplete infrastructure”. How effective is the current “cross-chain” and “side-chain” solution? u/henrik_hjelteu/sergelubkin Serge: Our infrastructure resembles Alibaba Cloud, so a DApp developer just goes and deploys his DApp’s blockchain into it, it’s easy. Also our language Rell https://rell.chromia.com/en/maste is more robust than any other blockchain programming language.Or Azure or AWS Rell combines the following features:
Relational data modeling and queries similar to SQL. People familiar with SQL should feel at home once they learn the new syntax.
Normal programming constructs: variables, loops, functions, collections, etc.
Constructs which specifically target application backends and, in particular, blockchain-style programming including request routing, authorization, etc.
We want people to join our channels such as telegram, twitter, email also our decentralized forum https://testnet.chromunity.com and participate in discussions
We want people to try our dapps such as Mines of Dalarnia
We want to get feedback and understand the most important issues people care about Chromia and the blockchain industry in general
We want to get more developers building on top of Chromia
LBTS: What was your motivation for creating RELL and not use other languages? What benefits? Why name it RELL also? Henrik Hjelte: We have a private/federated relational blockchain called Postchain, and it allows SQL. But that can work in a small environment when you know all parties, and if you are really careful in checking code. But not for a more secure, distributed on the web setup, so we had to make it more secure (Deterministic, statically typed). In the process, we also took the opportunity to make it cool and nice. Also: it is simply not possibly to use evm, jvm, or web assembly. We need/want a database in the bottom. Postgresql is our virtual machine. You do not reimplement that…. 10+ years codebase…. Lee: Being part of the gamer community, I would like to know what you would think about collaborating with a MOBA, RPG or Arcade game or some kind of project? Henrik Hjelte: We are already collaborating with some smaller studios. For bigger fish, we want to show them what is completely unique and visionary with Chromia, and we think we need various examples. So, first arcade game MoD (linked above) is one example, it is not the full potential or anything but a start. In this summer, krystopia 2 a puzzle game from Antler Interactive will be released. What is even cooler is the “demo project” we do together with them, where we will show how a mutliplayer game with real blockchain features will work. I just saw it an hour ago and was blown away OH, and there is another studio releasing something very cool. Full logic on chain strategy game. Chain of Alliance. oyibo pepper: Do you encourage HACKATHON programs for intending Developers to test their skills and build on RELL Can you explain more about CHROMIA AMBASSADORS PROGRAM, CAN I BECOME AN AMBASSADOR Serge: Yes, you can, but you will need to change your avatar 🤣 Seriously, we are growing our Chromians community if you want to become one please ping our admins in Chromia telegram group. Also, we are planning virtual hackathons soon, please subscribe to stay updated Infinite Crypto: Since the Chromia project is currently working on the Ethereum blockchain ERC20 standard! But we know that there are a lot of scalability issues with Ethereum, so why would you choose the Ethereum blockchain over other scalable blockchains? Do you have any plans for Mainnet launch of Chromia? Henrik Hjelte: ETH is just used in a pre-phase for tokens. We will have our own mainnet tokens interchangable with ETH. Oyinbo pepper What’s CHROMIA SSO and SDK, how can I get started Henrik Hjelte Both are 3 letters. That is what they have in common. SDK = software development kit, check docs on https://rell.chromia.com SSO = single sign on. A unique UX improvement. You approve an app in your wallet (vault) with super ease. no need to remember codes sso: https://blog.chromia.com/chromia-sso-the-whys-and-the-whats/ We have a fundamentally different model from bitcoin and ethereum and the likes. The blockchain is not run by anonymous computers in basement and student dorms across the world. We have more of known identities, so 51% attacks is protected not by PoW/PoS but other consensus. Please see our whitepaper. Note that we are not noobs when it comes to this, our CTO Alex has published papers in academic journals on consensus etc. from 2013, and done several important ideas for blockchain. Sidechains we think he was first with, tokens too. Sheron Fernando: Is there any plan to makes partnership with local cryptocurrency developers from each country to make $CHR usage more worldwide? Serge: Yes, we are looking for cooperation with more external developers. Send me a message if you are interested in developing something on Chromia. Stella: What are the underlying problems in the Dapps today that can be solved with the Chromia protocol? Serge:
Scalability — on Chromia your dapp can have unlimited numbers of users thanks to parallel scaling
Easiness of use — you don’t need external wallets, no need to buy crypto to pay for gas etc
Cost — in general to deploy the dapp and to use the dapp
Marcel Lagacé: Why build this platform? What is Chromia mission? What are the most prominent features of the platform? Can you clarify the use case for this feature? Henrik Hjelte: We build the platform to fix the problems with blockchains, that we ourselves have experienced since 2014 (before ethereum existed). LBTS: Can you tell us about Chromia developers? How motivated and experienced are they to always deliver the best products? Henrik Hjelte: I can tell you that we recruit developers that are really good, from all parts of the world. Vietnam has been a hub because we found many good, so in Ukraine. How can we say “we have so good developers”? First one thing that is a bit different is that we are pretty experienced in leadership team of development. I do not code much anymore since I’m a CEO. But I do have now over 30 years of experience. Got published and was payed when I was 15. First full-time professional developer job at 18. Have released open-source projects used by 10: s of thousand developers. And Alex, our CTO is Extremely good. That is why I recruited him to my old startup 2006 or so… So: we have experience to sort out good developers from bad. Marcel Lagacé: Does Chromia staking model is different from other staking platform?? What are the beneficial advantages of chromia staking system? Serge: The main difference is that we have independent Providers, entities that are not connected. These serious players are exchanges, data centres, professional staking companies. They provide a backbone of the ecosystem and host dapps. Like Amazon servers in the cloud. They cannot have stake bigger than the maximum thus they can’t control the network. This is probably the main difference with classic DPoS networks Nguyen Duy Bao: A lot of people will want to know what the strength of Chromia is but I want to know the weaknesses and problems Chromia faces ? How do you plan to solve it? Henrik Hjelte: A weakness I guess is weak compared to “competition”. And there are some blockchain projects that got crazy amount of funding. So how can we compete with that, when they can hire more developers for example? Well here is what experience comes into play: More developers does not always increase productivity a lot, it is diminishing returns. You can see many large projects, with 100 of developers fail miserably with no results. And actually, sometimes true with marketing spend too. It is generally good with money, but if you are a bit clever you can compete also on marketing with less money than your competition. Please follow Chromia on Social Media: Website: https://www.chromia.com Twitter: https://twitter.com/chromia FaceBook: https://www.facebook.com/teamchromia LinkedIn: https://www.linkedin.com/company/chromia Telegram: https://t.me/hellochromia Decentralized Social network Chromunity: https://testnet.chromunity.com Free-to-Play Blockchain Game Mines of Dalarnia: https://www.minesofdalarnia.com
Crypto and Bitcoin Mining Rental Rigs and Cloud Mining, What's The Catch?
I am referring to sites like these: https://www.miningrigrentals.com/ https://iminer.net/en/ https://www.rhy.com/en_us/rental https://iqmining.com/ https://mineunit.com/device The 3rd one is a Chinese website that boasts Electricity Bill 0.046 $/kwh. How do I get 0.046 $/kwh if electricity in my area is 0.18 $/kwh. Are they sending me a physical machine or leasing their 'profits'. What's the catch? Why would they want to rent this to me when they can just plug it in and make the profit themselves? Maybe they are doing this because the halving eroded their profits? Is this a hedge in case Bitcoin falls? Or. Are they making a profit difference on the spread of what the miner makes and what they charge me to rent, best case scenario leaser and purchaser both makes money? How is this not a big thing yet and wide known and why doesn't everyone just dump their money into this if it seems like the websites are just saying and advertising it's free money as long as you have the capital to rent. It sounds all too good to be true, please enlighten me.
AMA Recap of CEO and Co-founder of Chromia, Henrik Hjelte in the @binancenigeria Telegram group on 03/05/2020.
Here is an article by an author named Adnan about why Get Ticketing will explode: https://medium.com/@adnanzzz/the-bullish-case-of-get-protocol-451ad6059f2d Below is the same article copied and pasted for those who are too lazy to click the link. However, I recommend reading the article from the link instead as it has a lot of graphs, links, and pictures that gives a much fuller picture.
"GET protocol — the sleeping blockchain giant Bear with me as I try to explain why the GET token is currently the most bullish crypto token in the space. The price surge will be driven by adoption and not just mere speculation. And adoption is already there but will only now start to gain huge momentum! By the time you have read this blog you will come to see how most other crypto projects lose value in your eyes when you compare it to a project with amazing fundamentals, a project that doesn’t need an “altseason”, driven by mere mindless speculation, to give you nice returns! Most people in the crypto space have never heard of the GET protocol. This is on one side suprising because there are 191.329 wallet holders to be exact. This means that 191.329 people have used the GET protocol, mostly without even knowing it! The focus has always been on building a product that works and where there is demand for. Where other projects have focused and spent their funds on marketing in the crypto space (meaning luring in new investors) GET has neglected that part a bit. Instead they focused their funds on building a waterproof system and acquiring clients who will use the protocol (venues, artists, governments, …). The effect of this is that the price hasn’t been affected by speculation. The list of artists who use GET-fueled tickets is endless and I have honestly lost sight of everyone who uses it. But to give you an example of adoption, here is a list of some of the artists who sell GET-fueled tickets:
Amsterdam Dance Event
Youp Van ‘t Hek
What is the GET protocol and what does it do? The GET Protocol offers a blockchain-based smart ticketing solution that can be used by everybody who needs to issue admission tickets in an honest and transparent way. The goal of GET protocol is to become the worldwide ticketing standard. To put it in simple terms: the ticketing industry is plagued by dishonest players. Not only ticket fraud but also scalping are an enormous problem in the industry. Once a ticket sale starts bots buy up the tickets and later sell them for enormous profits. Fans are sidelined and are forced to buy tickets of their idols for a much higher price. The scalpers, not adding any value in the process, make tons of money at the expense of artists, fans, venues, event organizers, … and everybody who makes the event industry what it is.
This is where GET offers a solution proven to work The tickets issued on the GET protocol are registered on your phone. This means that only the person in possession of the phone also owns the ticket. Every ticket is unique and is based on a QR code that updates itself and rotates to prevent fraud and scalping. The tickets are all registered on the blockchain as a mean of transparency and accountability. This means that fans can check ticket authenticity whenever they want. This is also where the GET token comes in play but more on that later…
GET is currently the best adopted microcap This is a bold statement but it’s not difficult to prove. Whereas other crypto “companies” confuse their investors with a lot of technical words that the average Joe doesn’t even understand and show off with meaningless partnerships, GET is actually changing the ticketing world for the better! At the moment of writing there are 4 ticketing companies that are completely integrated in the GET protocol, and together have sold many GET-fueled tickets! These companies currently run on the GET protocol:
GUTS Runs fully on the GET protocol and has sold over 400.000 tickets.
ITIX Established in 2009 and sells 2 million tickets/year. Is fully integrated in the GET protocol and will start selling GET-fueled tickets soon.
getTicket A new ticketing company in South Korea that will run fully on the GET protocol.
TecTix A Germany based ticketing company that will sell GET fueled tickets with a focus on the sports industry.
Integrating an existing ticketing company is a low investment move (only the GET token is needed) that offers traditional ticketing companies several benefits. That is why I expect many ticketing companies to integrate and GET to scale quickly.
The supply Some people are scared by the big difference in the circulating supply and the total supply. This is an unneccessary fear. The GET supply is made up of 3 portions:
Circulating supply (13.5 million)
Stability Fund (12,6 million): these tokens can never enter the circulating supply. They are used to supply the ticketing companies with GET so they don’t have to buy them directly from the market. The stability fund then buys these supplied tokens from the market to fill itself up. As the protocol shifts to open source the stability fund (together with all the tokens it holds) will be destroyed forever.
User Growth Fund (7,24 million): these tokens are used for discounts to new clients. These tokens should also in principle not enter the circulating supply. Only for marketing purposes and possible exchange listing costs a small portion of these might be liquidated.
This means that the circulating supply as it is now can only, ever, lightly increase for the purpose of growth. With the buybacks and burns being large enough the circulating supply will instead keep decreasing at a swift tempo.
GET in times of COVID19 In May Dutch group Di-Rect sold thousands of tickets for an online concert. They used GET’s technology to use a dynamic price setting. This means that fans were given the option to pay whatever they wanted for a ticket. Whoever paid €20 or more had the chance to win a lottery and be present at the concert. Once the concert starts, whoever bought a ticket, will be able to watch the streamed concert on GUTS’ app. This is yet another proof of the advantages a digital ticket offers. As this was a big succes, the expectation is that more and more artists will make use of GET’s technology. On 27/05 Dennis van Aarssen, The Voice Of Holland 2019 winner, announced that he will also do a livestreamed performance of classic covers and original music on June 7th. All tickets will be issued through the GET protocol. GET also offers several advantages in different areas in the fights against COVID19. The right of access being linked to your mobile makes it possible for potential clients to monitor the number of visitors in real time all the time, to apply an automated seating selection which consideres an appropriate distance between all visitors, queue control, booking of timeslots for museums, shops, parks, beaches, … so overcrowding can be avoided. When an event gets cancelled, whereas with paper tickets it’s sometimes impossible to track who owns the ticket at the current time, with GET’s technology the event organizer can, with one click, choose to make a refund to the current ticket owner, to communicate with him, to postpone the event, …
What more to expect in the (near) future? There are so many amazing things to come in the very near future so I’ll only focus on a few of them:
Integration with Klaytn
GET-fueled tickets for K-pop
Top tier exchange listing
More focus on marketing in the crypto space
Staking & nodes
GET as an open-source protocol
Integration in Klaytn
Seeing the adoption the GET protocol has, the solution they bring and the enormous potential they have in conquering the ticketing industry, they have been asked by Kakao to join their blockchain “Klaytn”. So GET is an initial service partner of the Klaytn blockchain. “Kakao’s global public blockchain project Klaytn is an enterprise-grade, service-centric platform that brings user-friendly blockchain experience to millions.” The choice for choosing to be an Initial Service Provider of Klaytn is based on two aspects. The first aspect is the fact that Klaytn’s blockchain infrastructure is fully business and integration focused, more than any other blockchain in the market. This results in huge improvements in areas as cost-efficiency, scalability, and data reliability. The second aspect is fueled by the potential of being part of the Klaytn ecosystem. Kakao is a giant in South Korea. GET will bring its adoption to Kakao’s blockchain and Kakao, with its giant network, in return will open many doors in South Korea. A win-win for everyone involved! In 2017 Kakao had more than 220 millions users on their messaging and content platform. The last few years the company has been rapidly expanding in other industry verticals.
GET fueled tickets sold for K-pop stars As mentioned earlier: South Korean ticketing company getTicket will run fully on the GET protocol. They have already deals in line to sell tickets for K-pop stars in their country. K-pop legend Mr. Won-Kwan Jung, as someone who has a lot of connections in the K-pop world, has joined the GET protocol as an advisor. He is an iconic figure and innovator in the world of K-Pop, owing to the fact that he was one of the three original members of SoBangCha, (or ‘Firetruck’ in English) which is regarded as the first K-Pop group to exist in the world. In a survey conducted in 17 countries in 2019, around 37.5 percent of respondents stated that the genre K-pop was “very popular” in their country. The survey found that the popularity of K-pop reaches far beyond South Korean borders. The fact that their idols will be selling GET-fueled tickets hasn’t reached the Korean audience yet. It is still a “public secret”. The news will be released in a directed marketing campaign later this year. You better believe that once the Koreans find out that they’ll be buying GET like hot cupcakes!
Tickets for museums and beaches to be in line with COVID19 restriction measures With the Corona virus still not wiped out but more under control, many countries are lifting restrictions. This needs to be done in a safe and controlled manner. This means avoiding overcrowding. GET’s technology can and will surely help here. GET’s system can do all that is needed now for a safe experience. Whether it’s booking a timeslot for the beach, for a museum,… or even for a shop from your home. The system lets the client monitor everything in real time. Someone can that way for example choose to go when there is less crowd. This all while fully respecting the user’s privacy. The GET sales team has been busier than ever, being in contact with governments, museums, … and the dev team is constantly creating custom made smart ticketing solutions for new costumers. I’m sure we can expect some major announcements in this area soon!
Top tier exchange listings & marketing in the crypto space The team has confirmed that listing on a top tier exchange has already been agreed. They’re just waiting for the right time to announce it, fitting in their marketing campaign. Besides that, a fiat on ramp exchange will list GET in a short timeframe. Many projects invested most of their funds in exchange listings and fake volume, creating artifical demand. These exchange listings are almost always accompanied by paying for a market maker. Once the funds dry up (and we have seen this with many projects) delisting becomes a reality and the funds end up being spent in vain. GET’s exchange listing and marketing campaign aren’t a means to pump the price but have the goal of creating liquidity for the end users (mainly ticketing companies) who will need to acquire a lot of GET from the open market in the short future.
Expansion in several other countries GET’s business developer Sander: "I am reached out by ticketing parties all around the world on a daily basis. The main challenge is to vet these parties. The goal of GET Protocol is to be the worldwide standard of digital admission rights and to get there we need to stay extremely lean and flexible in order to scale well. In that sense we need to be 100% convinced the parties we partner up in this phase have a very high potential of becoming a big player in their respective geographies. From the onboardings we currently experience, we learn to speed up onboarding processes upcoming year." And when asked how many tickets he expects to be sold in the near future and how many ticketing companies he expects to run on the GET protocol in 5 years time: "Along the journey, we here at GET and GUTS learned quite a few things. One of them is avoiding to publicly announce ticket sale estimates as the chances are that we shoot ourselves in the foot with that. If we don’t meet our estimates, life sucks and the community will let us know which is fine and rightful, but to be honest for GET nothing to win. If we meet our goal, it is okay but even then some people members manage to say they hoped for even better. In that sense, whatever we do, we can’t do well enough on that front, so I am reluctant about giving specific numbers (and I don’t have a crystal sphere either!). That being said, regarding the amount of ticketing companies in 2025, I expect many, in many countries. It’s a matter of time that we can easier offer our products in a whitelabeled manner. Only this week we got requests for more information about our services from Germany, Paraguay, Mexico, UK and Italy and Australia. This certainly doesn’t always mean a ticketing company could lead out of such a request, but the interest is certainly there. If we keep on doing what we do now, I believe we can boost ticketeers and event organizers around the world pretty soon and let them issue fully digital and blockchain registered tickets, all processed by GET Protocol. If more ticketing companies are onboarded, the amount of ticket sales processed by the protocol will grow exponentially." Knowing how GET’s team has always been very careful with their promises, I take such statements very seriously. If the past has taught me anything: they’re probably making an understatement. So expect GET to spread its wings in many regions around the world and take the ticketing world by a storm!
Staking & nodes GET’s blockchain developer Kasper Keunen has announced that a staking model is being developed. This means that you’ll be able to stake your GET. In return a portion of the ticketing fee will be rewarded to those stakers and nodes. So see it as a passive income. You sit down, relax and see it grow exponentionally as GET conquers the ticketing world :)
The end goal is to be an open source protocol The endgoal of the GET protocol is to become open source. There will be a governance model where changes to the protocol will be determined by GET token holders. That’s why I expect ticketing companies to acquire a lot of GET in time as their revenue relies on the direction of the protocol. GET will have a role as governance for the project as a whole. Such a role for the token is the most natural in a fully open-sourced environment of the protocol(currently not the case, yet). As then governance by stakeholders (ticketing companies) with a serious stake in the game as their ticketing revenue relies on the direction/quality of the code to be on point. As of yet, we do not really assign too much fundamental value to this role for the token (we barely mentioned it actually) as it is still a bit early for it to have serious merit. So pushing that value of the token now would be a bit false advertising. As we onboard more and more ticketing companies we will develop the governance of the token role more and more!
Why the GET token is set to explode Now that I’ve covered what the GET protocol is and where it’s going, it’s time to dig deeper in the token. And I have to say that I’ve never been more bullish on anything in my life. This for the simple reason that usage will drive the price to insanely high levels (where speculation isn’t even needed).
Tokenomics As mentioned above: to have full transparency and accountability (both missing links to make the ticket industry fraud- and scalpfree) all tickets sold are registered on blockchain. You can compare GET to a gas that is needed to fuel the protocol (every state change of the ticket needs to be registered — for which GET is needed). So for every ticket sold GET is bought back from the open market and burned forever.
A single state change cost €0,07 in Q1 2020
There are minimum 4 state changes per ticket
This means that a minimum of €0,28 worth of GET is needed for every ticket sold
In Q1 of 2020 107 059 GET were burned (proof of burn: ");
It is projected that at least 50% of all GET will be burned by 2022
At the moment of writing €161.944 worth of GET have been bought from the exchanges and burned forever (all triggered by adoption and ticketing companies needing the token).
GET’s valuation in the (near) future Bear in mind that this is my own expectation, based on big changes in supply and demand that I will try to explain below. Also keep in mind that I’m not a financial advisor and nothing is guaranteed in the crypto space! But I will try to explain why I personally believe that GET will be trading at 10€ per token and more in the near future. As time goes on and more tickets are sold, the demand for GET will keep increasing while the supply will keep decreasing. You don’t need to have a PhD in economics to understand what this will do to the price!
What kind of demand/buybacks can we expect? As explained above: for every ticket sold at least €0,28 worth of GET is needed by the ticketing companies. Most of this GET is bought back from the exchanges (the money to do this is included in the ticket fee). Some GET is supplied by the “user growth fund”. This is a fund created to give potential new customers a discount. This is done by subsidizing them a portion of their need for GET so these new customers don’t need to pay the full price immediately. Bear in mind that as time goes by this fund will dry up and all the GET that is needed will from that moment on be bought from the exchanges. Since the buybacks are based on the amount of tickets issued by the protocol, to calculate what kind of buybacks we can expect in the future we need to look at the ticket sales. As mentioned before there are 4 ticketing companies using the protocol right now (GUTS, ITIX, TecTix and getTicket). Below I will make an estimation of what to expect from them. GUTS has sold over 400k tickets. From just the deals already signed, over a million tickets would have been sold in 2020. Due to Covid19 most events had to be posponed (not cancelled). In the meanwhile the GUTS sales team hasn’t been idle and has atracted many more customers. This means that the 1 million tickets number is probably even on the low side. But let’s say a minimum of 1 million tickets will be sold the first year where all events will be allowed again. This means that at least €280.000 worth of GET will be needed in that year. ITIX sells 2 million tickets a year on average. Once fully integrated they will thus need at least €560.000 worth of GET on a yearly basis. TecTix, as a new ticketing company, it’s hard to predict what kind of numbers they’ll be running at the start. But given the expertise of the TecTix team I think 200.000 tickets is a safe bet to start with. That would put us on at last €56.000 worth of GET needed/year. And finally getTicket, a ticketing company based in South Korea. In their case it’s also difficult to make a prediction because they’re new and we have no previous data to rely on. But judging from the comments made by the team that “everything is bigger in Korea” and that they’ll be selling stadium concerts for K-pop stars (just one concerts can mean over 100.000 tickets sold) I think it’s safe to say that they’ll be selling at least 1 million tickets/year. That would bring their need for GET to at least €280.000 a year. So if we put this together the 4 ticketing companies will need over € 1 million worth of GET on a yearly basis. Bear in mind that more ticketing companies will keep joining and the existing ticketing companies will keep growing, taking away marketshare from ticketing companies that can’t offer all of the advantages mentioned before. Based on all of this I, pesonally, would say that €5 million/year in GET buybacks by 2023 is not an unreasonable prediction.
What can we expect from GET’s supply? Demand for a token means nothing if the supply is unlimited. The best example of the importance of the supply is the recent Bitcoin halvening that got everyone excited. Before the halvening around 1800 BTC were mined every day. Let’s say that at current prices this was around $16 million worth of BTC per day. The miners obviously have to sell a large portion of this to cover their costs. So even if there are no other sellers, a large number of BTC has to be bought from the market every day just to keep status quo of the current price. Halvening basically means that the speed at which the supply increases will be halved (900 BTC mined on a daily basis instead of 1800). The supply of BTC will still continue to increase, only at a slower tempo. Scarcity should be the ultimate goal when investing in utility tokens. With GET’s utility token things are different: every GET bought by a ticketing company will be burned. Contrary to BTC the supply of GET will thus continue to decrease as time goes on, removing the stacks of those eager to sell. This is not a dig at Bitcoin by the way as I’m a fan. Just highlighting the advantage an adopted utility token with good tokenomics has over “the king”. I hope you now understand my expectation that the price will explode. Many holders will obviously not be willing to sell at current prices with such an increasing demand. As the price is determined by many factors and we don’t know what the price will do exactly, it’s not possible to pin down the exact supply in the future. We do know that it will keep decreasing at a swift tempo unless the price goes parabolic.
Finding the equilibrum for the price The demand for GET will keep increasing through adoption and the supply decreasing as the used GET are destroyed forever The equilibrium price and equilibrium quantity occur where the supply and demand curves cross. The equilibrium occurs where the quantity demanded is equal to the quantity supplied. If the demand increases and the supply decreases then the price will rise until it finds a new equilibrium. Putting a correct marketcap valuation on a crypto project is an extremely difficult task. With traditional companies we can for example rely on the revenue, profit, dividend payments, … to estimate what the company is/should be worth. In most countries a 5% rental yield is considered a good investment. Of course it’s not fully comparable as these buybacks don’t automatically put money on your account. But they do increase the price and destroy the supply. So I think it’s in a way reasonable to extrapolate this 5% yield to our case. Having explained why I expect atleast €5 million in yearly buybacks by 2023, that would mean the marketcap should be around €100 million (5% = the buyback of €5 million multiplied by 20). The current circulating supply of GET is around 13,5 million. The expectation is that the burning mechanism will destroy more than half of that by 2023 (this takes into account an increasing price of the GET token). So let’s round it up to 5 million GET remaining. A marketcap of €100 million with a supply of 5 million GET would mean a price of €20/GET. This would be an increase of 6566.67%. Of course these numbers are not set in stone and merely a prediction but if you’ve been reading this blog you have come to understand why I am extremely bullish on the GET token. I have completely taken the speculation factor or an “altseason” or “fomo” out of the equation and only focused on a price increase driven by an increasing demand and decreasing supply! So the focus is on an organic price growth. Another great thing about holding a token with mass adoption and guaranteed buybacks is that I don’t have to worry about the price. As the buybacks are a guaranteed thing, the lower the price of GET the more GET is bought back and destroyed forever. So even a price decrease, as contradictory as it may sound, is bullish for longterm holders!
Privacy has been a major topic in blockchain technology in the past decade, there’s been several technological approaches towards providing true privacy, without sacrificing scalability and functionality. Over time, there was a loss of interest towards privacy technology on blockchain, that is, until MimbleWimble technology came along. Thanks to MimbleWimble, there is a way to improve privacy without sacrificing functionality, and in the meantime, MW allows for better scalability. Remember, there are no addresses used in Kepler! https://preview.redd.it/05ar4u531pr41.png?width=1000&format=png&auto=webp&s=6f49a83cc9e054e3307283d77a45c2245e7477f9
We chose a Proof-of-Work (PoW) consensus mechanism for a variety of reasons. This article could get lengthy if we go into too much detail, but we’ll discuss this a bit. An ASIC PoW algorithm is fair for miners, even ones who invested in multiple graphics cards. There will always be a coin for them to mine with their hardware. Hashrate rental services even the playing field for everyone. Most individuals cannot mine as cheap as they rent because of electricity costs. Not to mention the upfront cost of the hardware, shipping, customs and other fees like cooling and electrical work. Renters like using these services because they don’t need to trust their mining pool nor do they have to take custody of their coins or pay exchange fees. https://preview.redd.it/rx9gtiy71pr41.jpg?width=1000&format=pjpg&auto=webp&s=0268c349360ce01c0ad0eb46c6e5ac08c061eedf
Cryptocurrencies are far more divisible than fiat currency. Think of it as a dollar with a million pennies. Finding an economic model that works is something polite society will never stop debating. The trick is to make currency scarce enough so that it has value, but rare enough that so that everyone has access to it.
Crypto Faucet I use to store my mined bitcoin on, with 4.08% APR paid daily with accounts over 30k satoshi. Referral link included, I share 50% commissions with my referrals paid every Sunday if you're interested.
My referral link for the aforementioned FREEBITCO.IN: https://freebitco.in/?r=30437643&tag=redditF I have cross referenced this post on my site: passivecryptoguides.com Why should you sign on with me? I'm not a one off, you can reach me personally through DM or post comments. I've done most of the leg work, alleviating the trial and error process. Just follow the steps in this guide specifically in sections 7️⃣, 8️⃣, and 9️⃣. I share 50% commissions, get a kick back on everything you earn weekly. I trust this site, and personally have 270$ worth of bitcoin in one account with almost 500$ total including two other accounts. Coming from Cointiply? Well, as a heads up, you're not actually holding any BTC. I suggest what you earn you HODL in FREEBITCO.IN. Just some abbreviation and terminology explanation before we start for those unfamiliar. BTC=Bitcoin USD=US Dollar Satoshi Click here Bitcoin price history, past and present ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ POST LAYOUT 1️⃣GENERAL INFO 2️⃣POST INTENTIONS 3️⃣MY EARNINGS 4️⃣HOW DO COMMISSION REWARDS WORK? 5️⃣SOME CLAIM STATS 6️⃣MULTIPLY BITCOIN STRATS AND INFO 7️⃣AUTOMATION 8️⃣OPTIMIZATION AND USE 9️⃣STRATS TO INCREASE EARNINGS 1️⃣0️⃣ADVERTISING YOUR LINK 1️⃣1️⃣LINKS ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 1️⃣GENERAL INFO1️⃣ FREEBITCO.IN can be accessed from any device with internet. Using a VPN or a TOR is now allowed given that your account achieves certain criteria similar to a captcha free account requirements. 🛑WARNING: FREEBITCO.IN wipes inactive accounts after a certain period! If you lose interest, withdraw your BTC! 📝NOTE: iOS devices (iPad, iPhone) are restrictive. The only way to access is via website, as BitBot isn't available.📝 FREEBITCO.IN is what's called a "faucet", a site that gives a small steady stream of crypto which FREEBITCO.IN does through hourly rolls and interest accrual. FREEBITCO.IN also hosts other means to win or earn crypto, you can gamble with Multiplier, or bet on world evens and crypto prices. After your account reaches 30k Satoshi, you begin to collect interest. The site also offers lifetime referral commissions, explained later in this guide. All you need to start is an email. You can add more verification options for security later on. I would highly suggest it. Use a junk email though. 2FA and MFA are strongly suggested. A password should be 15 characters long. I suggest Google Authenticator for your 2FA needs. I know you can definitely access this site from Brave Browser with add blockers enabled. I'm sure it will work with others. Even without an ad blockers, they only advertise their site gambling and games, no 3rd party adds that I've seen. It's not too invasive or spammy either. ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 2️⃣POST INTENTIONS2️⃣ This post is both an advertising platform I use, and a guide I've made to help those interested to automate and optimize earnings. For those of a cautious mindset, I've uploaded all of FREEBITCO.IN's information on interest accrual, security, and proof of mining on Imgur, in case you're worried about visiting the site. Transparent link here: Interest accrual structure and FREEBITCO.IN security. https://imgur.com/a/wWjQtKT My referral link: https://freebitco.in/?r=30437643&tag=redditC2 ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 3️⃣MY EARNINGS3️⃣ So at this point, with hourly claims and daily interest, I'm bringing in roughly 8978 Satoshi (or .70$ USD with BTC at 7804$ USD) daily at full optimization on one account, and two other self referred accounts without lifting a finger. This is before the fact that a hourly roll (claim) can reward up to a max of 200$ USD worth of BTC (percentages in section 5️⃣). They also have a weekly lotto (tickets awarded with every roll and referral roll) with the last 1st place winner receiving .32769156 BTC (2587$ USD at current bitcoin price). This is also not including my current commissions on accounts not owned by me. In this post I will describe some of my strategies I've incorporated, and some insight into how this website works. To offload or withdraw bitcoin, you're going to need what is called a "wallet". I personally use Coinbase (available on mobile or desktop) as you can sell it through here as well and easily move money to Paypal or a bank. ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 4️⃣HOW DO COMMISSION REWARDS WORK?4️⃣ If you are already on FREEBITCO.IN, do you have someone who referred you? Do they share commissions? If not, why not make a new account and join me, where you'll get a return on everything you earn. As you can see, large affiliate groups don't share anything, hoarding hundreds of thousands worth of BTC earned off their referrals I share 50% of my commissions. I get 50% of your roll rewards, 25% of your interest, and 0.4% of your wagers. All of this is paid out by FREEBITCO.IN as a commission, so it's not pulled from your rewards or held BTC. So the more you're active, the more you'll receive from me weekly (being active is doing anything that I get commissions from). IMPORTANT: Your (and all referrals) shares are based on activity, so if you are inactive for the week, you get a lower % for that week. If you're the most active of my referrals you get a higher percentage of what I share. This is to incentivize being active and to stop people from getting a cut without doing anything. If you have FREEBITCO.IN automated, you don't have to worry about this. However, having a larger bankroll to earn interest, or playing Multiply BTC (I do not suggest playing unless doing so to meet auto roll requirements) will increase can your activity further. Commission Structure Here is some proof, I've actually shared about 2/3 of all commissions Commissions update 12 January 2020 Here is a proof of Payment section per individual 📝NOTE: I've noticed when I was creating the images of commission sharing that the "RECENT" blocks are showing zero. If you look at totals from the first image, you can tell I'm actively sharing with all of my referrals.📝 Join my team FREEBITCO.IN ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 5️⃣SOME CLAIM STATS5️⃣ You can earn AT LEAST .00000552 BTC (.048$) daily when automated (or claiming every hour on the hour) before bonuses (like using reward points to increase rewards 1000%). After some testing, it seems that this amount will always be about .048$ worth of BTC, base claim rewards no bonus active. After .00030000 BTC, you accrue compounding interest at a rate of 4.08% APR, paid daily. As soon as your daily interest is accredited, it too starts earning interest. The daily interest rate comes out to ~0.011% of your total held BTC. FREEBITCO.IN gives you a roll once every hour, free 📝NOTE: Roll rewards fluctuate inversely with BTC price. BTC goes down, roll rewards go up, vice versa. The BTC rewards USD value will be extremely close to the values represented below.📝 Current rewards and probability with every hourly roll. (.002$) -> 98.85% (.02$) -> 1.00% (.20$) -> .08% (2.00$) -> .04% (20$) -> .02% (200$) -> .01% ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 6️⃣MULTIPLY BTC STRATS AND INFO6️⃣ 🛑!WARNING!, NO STRATEGY IS 100%, THE MULTIPLIER GAME IS GAMBLING, YOU CAN STILL LOSE YOUR WHOLE BALANCE IF YOU PUSH YOUR LUCK.🛑 UPDATE: I decided to do some research after some odd outcomes when extensively testing some of my Multiplier strats. Turns out FREEBITCO.IN does indeed have a house advantage that isn't too transparent. Longer sessions are almost always going to come out negative. If you still plan on playing, do short sessions, once daily max, with lower amounts. There are a couple methods to play the Multiplier with a reduced risk (but still a risk) here as well. I would suggest small play sessions. STRAT #1 My preferred settings for AUTOROLL on MULTIPLY that I've had the best success rate with to date. (preferably with .00005000 in ACCT for best results) BET: Minimum ODDS: 3 ROLLS: (doesn't matter, 100) BET ON: alternate STOP BETTING PROFIT: .00000050, important as the bets will get exponentially higher with every loss. Win in small increments. STOP BETTING LOSS: Set a loss limit if you want, I have mine set to .00001 and haven't reached it ON WIN: select increase bet 0% ON LOSS: select increase bet 65% RANDOMIZE CLIENT SEED: yes DO NOT REFRESH: yes Here is a pic of the settings Anything else doesn't matter. Make sure the boxes are checked for the above options. With this strat, I've won positive on one account, about .000077 BTC, and I've only played 5 or 6 times, at less than 2-3 minutes of play time a session. STRAT #2 Good for accounts with a low balance. I've had a surprising amount of luck with this method, enough so that I thought I'd post it here with an update. This could work well for accounts with less than 1k Satoshi, as a losing streak wouldn't be a huge loss. For this strat, you should have at least 189 Satoshi in your account. BET: Minimum amount ODDS/WIN CHANCE: 189 or %0.5 ROLLS: 189 (remains the same no matter if you bet more) BET ON: High or Low, but not Alternate. STOP BETTING ON PROFIT: Minimum amount, once again, you want continuous small wins UPDATE: Conducting more tests for viability I played these settings 10 times, I came out positive 8/10 times. In the end I was positive 433 Satoshi total with selecting "hi". On selecting "low" I went positive 5/10 losing 525 Satoshi. On selecting "hi" and betting 10 Satoshi, I went positive 3/10 times losing 9708 Satoshi. On selecting "high" and betting 100 Satoshi, I never went positive, 0/10. Losing 189000 Satoshi (~15$ USD). There does seem to be a pattern of losing more when betting more. Like anything gambling, there's probably a house advantage that's not too transparent. Win small lose small. Pic of these settings STRAT #3 Another strategy I've tried is betting most of my balance once occasionally with a 94.06% chance of winning. This is, eh, alright to risk OCCASIONALLY, but a loss would set you back more than you ever made using this strategy, which happened to me, I lost about 40 USD worth of BTC after making maybe 5 USD. THIS METHOD IS GREAT FOR MEETING NON-CAPTCHA ACCOUNT REQUIREMENTS! Playing this in auto roll, out of 20 rolls I'd always lose at least once, putting me into the negative. Even with 10 rolls, I'd more often then not lose at least once. Pic of these settings There are other strats out there, such as the "Martingale", which is essentially doubling the bet amount every loss, then resetting your bet to minimum after a win to in theory "win back what you lost". At 47.5% odds of winning, I've had loss streaks that would drain my account. My summary for Multiply, use sparingly. Don't use it as your primary means of earning. Use once or twice daily, limit play sessions to 5 minutes max. ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 7️⃣AUTOMATION7️⃣ 📝NOTE: FREEBITCO.IN captcha requirements seem to be tiered, with requirements for Captcha free upscaling when you BTC holding passes a certain threshold. I'm currently testing, as is another team member (Shout out to u/SrExtreme69) , what exactly these thresholds, if holding at these thresholds increases the length of Captcha free rolls, and at what amount does FREEBITCO.IN no longer require these to be met.📝 📝NOTE: To start automating, remember to verify email and setup 2FA or the Captcha will still appear even if your account meets Captcha free requirements. Check the site occasionally as Captcha free roll requirements can change. After certain held BTC amount you don't need to renew your requirements. I haven't had to achieve new requirements in over a month.📝 📝NOTE: You may need to manually roll for a bit until the the ability to achieve a Captcha free account becomes available. It doesn't show at first.📝 📝NOTE: It's very difficult, if not impossible to automate on iOS devices. First of all, getting to this point can be a grind, but once achieved you'll have a steady flow of BTC with options to increase earnings through rewards claims using RP. I would suggest going to your PROFILE tab on FREEBITCO.IN and disabling lottery to increase RP production when starting out. Using other apps or resources to supplement income is a good idea as well. On the FREE BTC page, there is a blue text hyperlink with requirements that need to be met to make your account captcha free, thus allowing you to enable autoroll on extensions or apps. It has multiple ways to achieve this and they can change, so if your autoroll has stopped, check to see if these requirements have changed. Here are the requirements. (Amounts vary) It seems only two of these requirements need to be met. The less risky and easiest method is to buy lottery tickets and bet with jackpots on. Even better is depositing bitcoin if you have that amount. The POSSIBLY least expensive method is to bet both regularly and with Jackpots enabled on MULTIPLY (for higher amounts required, IMO Multiplier strat #3 works best) ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 8️⃣OPTIMIZATION AND USE OF FREEBITCO.IN8️⃣ For computers I would suggest using Firefox, as you can add functions and tools to your bar up top. One of the being a "auto roll" for FREEBITCO.IN, still requires a "captcha free" account. Turn it on and let go, check it occasionally to make sure its still going. Autoroll firefox add-on link My link again for ease of access Not my preferred method, but good for a second account, as using a computer means devoting more attention to FREEBITCO.IN in an inconvenient manner if you are just starting out. After Captcha has been removed, this becomes more hands free, but not as profitable as using bitbot, as you can't autoclaim RP rewards. I haven't tried many methods besides using Firefox addons, as I'm wary of sources or intent when it comes to 3rd party scripts or programs. If I find any trustworthy scripts or programs, I will update here. For Mobile 🛑BITBOT WARNING, IF YOU USE BITBOT TO ACCESS FREEBITCO.IN BEFORE USING MY REFERRAL, YOU WILL BE REFERRED THROUGH BITBOT, AND THEY DON'T SHARE COMMISSIONS AS FAR AS I CAN TELL🛑 My Link again 📝NOTE: iOS devices (iPhone, iPad) do not have access to BitBot, nor do they allow extensions/add-ons on their browsers. I have not personally found a way around this. You may still access the site and manually roll.📝 I use BitBot. This is the best place to start from IMO. You can set it to notify you of rolls and gives direct access to the site from the app (you can also access the site from any device with internet). Once your account is "captcha free" you can set it to auto roll AND automatically claim rewards every 24 hours (RP increase, BTC increase, Lottery ticket Increase). 📝NOTE: Bitbot allows auto roll from the app for accounts over 500 RP. This isn't permanent, as it uses your RP. You'll need to log onto the website through a browser to achieve captch free account requirements, which Bitbot does recognize, which allow completely free rolls.📝 📝NOTE: Accessing FREEBITCO.IN through BitBot doesn't allow access to the Hi-Lo or betting games.📝 ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 9️⃣STRATS TO INCREASE EARNINGS9️⃣ Bitbot optimization I started manual claims by setting roll notifications to "ON" for a while until I supplemented my BTC in FREEBITCO.IN with what I was collecting from my miner and CryptoTab. Once I was able to AUTOMATE and I had enough RP to claim the RP BONUS, I set it to do that automatically every 24 hours as this nets more RP than you spend (EG, 100 RP roll bonus costs 1200 RP, but can net 2400 RP if claimed every hour). Eventually you accrue enough RP to claim the %1000 BTC bonus, probably at a rate of once or twice a week. My current BitBot settings now that its auto claiming, I have the 24 hour auto bonus claiming 100 RP roll bonus and 100% claim bonus, spending a total of 1520 RP, but I'm making 2400 RP with the RP bonus, leaving me 780 RP in the positive each day. Every now and then I'll stop the auto bonus claim so I can buy the 1000% claim bonus (3200 RP). So on a normal day I'll make about 1344 Satoshi. Bitbot auto bonus settings Once your accrue more referrals, or save enough RP, it's possible to claim the 1000% BTC roll bonus multiple days in a row. This is just about as optimal as you can get for auto rolling. Self Referrals If you have two devices (phone and computer preferably) you can make two accounts as long as one uses a different wifi or internet connection, as the roll rewards tracks IP addresses for roll counts. So if you have 2 devices on the same network, it sudo links accounts, so if you roll on one, it restarts the timer on the other. This allows you to collect referral rewards from yourself. Effectively adding 25% of interest and 50% roll rewards. I currently have a phone autorolling on BitBot with a computer autorolling on Firefox with a tool to roll automatically as long as the page remains open. My computer account is referred from my mobile account, and is currently bringing in an extra .000015+ BTC weekly (currently, total will be this Sunday and I will update). I've also made another account on my partners phone, linked it with bitbot and got it auto-rolling. Once bitbot is going, its non-invasive and you can silence notifications, it also uses minimal data. Supplementing with CryptoTab I'll use CryptoTab on my computer 24/7 to earn BTC from that while I have FREEBITCO.IN running. I also have it running on my phone at night when I sleep and on an iPad I have that I don't use much, its server mining, so no worries about battery on mobile devices. On computers it does actually use your processing power. You can directly deposit into you FREEBITCO.IN accounts. CryptoTab Link I've used it for two weeks and have earned a total of .000454 BTC (3.60$ USD). Not huge, but enough to start collecting interest on FREEBITCO.IN and to get the capthca free account requirements. Supplementing with Cointiply 🛑WARNING: Cointiply's main currency is the constant, weighted against the dollar (10,000 coin/1USD). This means your actually BTC holdings will fluctuate with BTC's price. For this reason, it's my strong opinion that DON'T HODL in Cointiply as you're not holding actual BTC.🛑 Cointiply is a great site to earn decent amounts of COIN which translate to SAT's. Earn coin, withdraw to FREEBITCO.IN (as you actually hold BTC in cointiply). I also use an ASIC miner (Antminer s9i, DIY liquid cooled and overclocked with BixBit firmware), and whatever I earn I'll put that into FREEBITCO.IN to collect interest. If you want, I may be willing to do a rental. ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 1️⃣0️⃣ADVERTISING YOUR LINK1️⃣0️⃣ 📝NOTE: Since this faucet has been around a while, many people privy to sites such as this are already signed up. So getting referrals can be a slog. My tips for your ads is be genuine and don't hard sell or post "too good to be true" sensational ads.📝 COINTIPLY This is another faucet. Its structure is a bit different from FREEBITCO.IN, as you complete offers to earn coin. Within this site (also an app) users can earn coins by doing PTC ads (and other offers), this is a good method to get exposure as you can advertise as well. Using this method my traffic for last week as about 800 people. 13000 coins buys about 1000 "clicks" on your ads. They also have options to advertise to people based on location (these options will increase or decrease cost). After your first ad, you usually get a 10% off coupon good for 7 days as well. You can earn this amount within a day doing surveys on Theorem. I've done surveys before, and this has to be one of the best surveys sights I've ever done. Very rarely do I get kicked out mid survey, and if I do, I still get partial pay. I will also use "Hideout" on my computer and leave it running. It has to be the open tab on your browser, with the browser open, not minimized. Let it go and check it occasionally as it has a timeout at roughly 2-3 hrs idle. As of now this is the best passive method of earning on Cointiply. PI NETWORK Pi Network, an ICO (Initial coin offering) based on trust and social media is another good medium for advertising. I will usually see 15-20 people click on my link with 2-4 ads posted per day. Just go to "chat", select "random" and post an ad in the chat channel. No charge. My tip, keep your ads short to medium in length, don't spam. XYO NETWORK/COIN APP This is another crypto earned through "geo-mining". On the "coin" app you can do a "geodrop" where you can leave a note. Just click on the box with a parachute icon, select "any" on the "Tile" selection. Leave your ad in the "note" section. It costs 10 "COIN" at the very least to do a "geodrop". This method may not be worth it if you aren't already involved in the program. To earn a substantial amount of coin, you'll need a subscription or a "sentinel". Sentinels can actually be purchased for under 20$ nowadays (depending on site) and is the best option to earn. Without these you'll only make approx .05-.18 coin every 30 seconds if you're actively moving. My tips if you plan on advertising on this platform, once again keep it short, and only advertise around 7-9am and 4-6pm, as this will be peak mining hours with people driving to and from work. ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹ 1️⃣1️⃣LINKS1️⃣1️⃣ My FREEBITCO.IN Referral Link What is a Satoshi? Bitcoins price through Coingecko CryptoTab Link Autoroll on Firefox Coinbase Link PI NETWORK COINTIPLY XYO NETWORK/COIN APP ⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹
Questions and Answers from OKEx AMA with Tron Black - 2/18/2020
https://twitter.com/OKEx/status/1228212766126661633 The AMA was a huge success! THANK YOU TRON! If you want to see all the questions that poured in when they opened the AMA up for questions from the audience, here they are: https://pastebin.com/KVpyXmgu The Telegram admins had to temporarily mute the group because there were so many questions flooding in from so many people. A *good problem* to have. :) Below are all the ANSWERED questions. ------------------------------------------------------------------- [email protected], [18.02.20 05:09] Here’s question#1:What is your background and how did you come to the idea to create RVN [email protected] Tron Black, [18.02.20 05:12] Sorry, I was locked out for minute. Tron Black, [18.02.20 05:12] I'm just a tiny part of Ravencoin, and there are some amazing developers (Jeremy, Mark, Cade, and Corbin) that have been brought the new capabilities to mainnet. The core idea of bringing assets to a bitcoin-derived blockchain platform came from Bruce Fenton, a former Executive Director of the Bitcoin Foundation with life-long experience in the traditional finance and stockbroker world. Medici Ventures is allowing some of its developers to contribute to the project. I was fortunate enough to have the right background to help with this project. I have a CS degree, C++ coding skills, economics background, early entrepreneurial success, teaching experience, an MBA, and a burning passion for the crypto-space and how it can change the world for the better. [email protected], [18.02.20 05:12] Thanks. Here's question#2: Why did you name the project Raven? What was Raven created to solve? What is the business model of the project? Tron Black, [18.02.20 05:12] The name came from Bruce Fenton. Ravens are clever birds with a rich history. Ravencoin makes it easy to create and transfer your own asset. There isn’t a business model for the project. It is a gift to the world in the spirit of Bitcoin. Medici Ventures has allowed some of its top developers to contribute time and effort to the project. Medici Ventures does hold some mined RVN, so it may be a win-win. [email protected], [18.02.20 05:14] Thank you for answering. Let's move on to the next question# 3. What are the $RVN tokens used for? What gives it value? Tron Black, [18.02.20 05:15] Thank you for asking. Tron Black, [18.02.20 05:15] The RVN tokens are used to purchase your own token on the Ravencoin platform. Tron Black, [18.02.20 05:16] Those RVN are burned. Tron Black, [18.02.20 05:16] RVN is also used to incentivize the miners to secure the chain. Tron Black, [18.02.20 05:16] RVN is also used for transaction fees for tranferring RVN or user-created (your) assets. [email protected], [18.02.20 05:17] Cool. Here's question# 4:In your opinion what is the unique "selling" point, or best feature, of Ravencoin? Tron Black, [18.02.20 05:17] This is like being asked "who is your favorite child." Tron Black, [18.02.20 05:18] Except answering it doesn't cost children thousands in therapy so I'll give it a shot. Tron Black, [18.02.20 05:18] The best feature of Ravencoin, with the most unexpected results, has been its linkage to IPFS. Tron Black, [18.02.20 05:19] This was originally done to ensure that meta-dat about a token doesn't get lost like it has on other platforms like Counterparty. Tron Black, [18.02.20 05:19] The linkage to IPFS has RECENTLY been extended to include messaging, and memos. Tron Black, [18.02.20 05:20] You can now include information, even a PDF, or a video clip with every transaction. Tron Black, [18.02.20 05:20] This is powerful, and I can't wait to see how it gets used. Tron Black, [18.02.20 05:20] -------------------- [email protected], [18.02.20 05:20] Quesiton#5 What are the advantages of using Ravencoin for assets tokenization compared to other blockchain protocols? Tron Black, [18.02.20 05:21] Wow. Where do I start? Tron Black, [18.02.20 05:21] First, the meta-data about the token can be recorded via IPFS, so everyone knows what the token represents. Tron Black, [18.02.20 05:22] Second, the token has a unique name which can help with preventing fake tokens, and allows humang readable "root-of-trust" for the token that isn't just 40 characters of hex (ERC-20). Tron Black, [18.02.20 05:22] There explorers for assets, like: https://ravencoin.asset-explorer.com Tron Black, [18.02.20 05:23] and https://www.mangofarmassets.com/assetviewer Tron Black, [18.02.20 05:23] Wallets like RVN Wallet, MangoFarms Wallet, and Zelcore wallet support Ravencoin assets. Tron Black, [18.02.20 05:23] -------------- [email protected], [18.02.20 05:23] Here's our next question from Twitter# 6: Does being fully community-driven blockchain have its own drawbacks for rvn? You know, voluntarism means no marketing or legal team. Tron Black, [18.02.20 05:24] Yes, oh yes. Tron Black, [18.02.20 05:24] But the benefits far outweigh the drawbacks. [email protected], [18.02.20 05:24] [ Photo ] 📣Group is Off Commenting for a while due to AMA. Will allow back when Q&A session later. Kindly be Patience with us. Thank You🥰 Tron Black, [18.02.20 05:24] It is just technology that people choose to use. Tron Black, [18.02.20 05:24] Ravencoin has attracted the right kinds of people, including donated legal help when it was needed. Tron Black, [18.02.20 05:25] The lack of a marketing budget does slow the awareness. Tron Black, [18.02.20 05:25] In some ways this is good, and the demand for RVN isn't reliant on promotion. Tron Black, [18.02.20 05:25] As other projects stop promotion, or run out of marketing funds, they are at risk. Tron Black, [18.02.20 05:26] Ravencoin is just growing slowly and steadily as more people learn about it. Tron Black, [18.02.20 05:26] Consider yourself fortunate to have learned about Ravencoin early.😁 Tron Black, [18.02.20 05:26] --------------- [email protected], [18.02.20 05:27] Great!!! Here's the next question from Twitter# 7:is it apple to apple if I say that ravencoin is going to disrupt wall street just like bitcoin is disrupting to central banking? Tron Black, [18.02.20 05:28] At the very least, Ravencoin will help show the way that tokenization can improve capital formation. It is up to others to take advantage of these new tools, technologies, and features. Tron Black, [18.02.20 05:28] It might happen first in countries other than the U.S. Tron Black, [18.02.20 05:29] Look at the story of Blockbuster Video (former leader in video rental), and Netflix (current video streaming leader) to see what might happen in the future. Is Wall Street the new Blockbuster Video? Tron Black, [18.02.20 05:30] I see similar patterns of arrogance, but only time will tell. Tron Black, [18.02.20 05:30] --------------- [email protected], [18.02.20 05:30] Here's the next question# 8: How will Ravencoin defend hashrate distribution (algo question) if there are important securities issued on this platform (double spend attack)? Tron Black, [18.02.20 05:31] Ravencoin doesn't re-org after 60 blocks which helps prevent double-spend attacks -- a feature called NLR. Tron Black, [18.02.20 05:31] Also, something to be aware of is that in most cases tokens are redeemed by an issuer which removes the incentive to double-spend. Tron Black, [18.02.20 05:32] Example: Let's say the token is a share of real-estate. The laws of the jurisdiction for the real-estate would apply when redeeming for dividends, etc. Tron Black, [18.02.20 05:33] Also If the issuer is using the Restricted Assets feature of Ravencoin which have tokens that start with $, then the stolen tokens can be frozen. Tron Black, [18.02.20 05:33] Note: Regular assets (not starting with $) can't be frozen. Tron Black, [18.02.20 05:33] The issuer of the token should specify how redemption is handled. Tron Black, [18.02.20 05:33] -------------- [email protected], [18.02.20 05:34] Thank you for your detailed answer. and Quesiton#9 How does RVN works? What problem did RVN solve? How do the Tokenomics work? Tron Black, [18.02.20 05:34] RVN works like BTC, because it is a code fork of BTC. Tron Black, [18.02.20 05:34] RVN lets you create your own tokens in under a minute. It is easy!!! Tron Black, [18.02.20 05:34] RVN is required to create your own token. Tron Black, [18.02.20 05:35] Heres' the breakdown: Tron Black, [18.02.20 05:35] 500 RVN burned to create a root asset with a unique name. 100 RVN is burned to create a sub-asset (under a root asset). 5 RVN is burned to create a unique asset (NFT). 1000 RVN burned to be a qualifier. 1500 RVN burned to create a Restricted Asset with special superpowers. 0.1 RVN burned to attach a tag to a Ravencoin address. A small amount of RVN is used, but not burned to transfer assets. Tron Black, [18.02.20 05:35] ------------ [email protected], [18.02.20 05:35] Let's move on to the next question#10 Safety and security are always the most important things. So what is the security mechanism of RavenCoin to ensure user assets do not become the target of hackers? Tron Black, [18.02.20 05:36] Ravencoin has a strong network of miners. Tron Black, [18.02.20 05:36] Most of the original code is from Bitcoin which is probably the most vetted code in the world. Tron Black, [18.02.20 05:36] We have run a bug bounty to hopefully find any flaws before release to mainnet. Tron Black, [18.02.20 05:36] With all that said, there are no guarantees as this is just source code provided for free that folks choose to run. Tron Black, [18.02.20 05:37] If you need absolute assurance, then you should commission an audit of the code. There is no Ravencoin company, just a GitHub repository and a lot of passionate supporters. Tron Black, [18.02.20 05:37] ------------- [email protected], [18.02.20 05:37] Quesiton#11 Nowaday most investors $RVN simply focus on the price of the token in the short term, and not on the real value of the project. Can you tell us about the motivation and advantages of an investor $RVN in the long term? Tron Black, [18.02.20 05:38] I can't speak to the motivations of individual investors. Tron Black, [18.02.20 05:38] RVN is a great token with good liquidity (world-wide). Tron Black, [18.02.20 05:38] RVN is used to incentivize the miners and help protect the Ravencoin asset platform, so it has a use case. Tron Black, [18.02.20 05:39] RVN can be a store-of-value, and a medium-of-exchange. Tron Black, [18.02.20 05:39] One of my favorite things about Ravencoin is that it is tricky to classify, as it has so many uses. Tron Black, [18.02.20 05:39] I love seeing how people build using this technology platform. Tron Black, [18.02.20 05:39] Ravencoin makes new things possible. Tron Black, [18.02.20 05:39] -------------- [email protected], [18.02.20 05:40] Here's the next question #12 Who are your competitors and how do you intend to thrive amongst them? Tron Black, [18.02.20 05:40] This may sound strange, but I don't see crypto technologies as competitors. Tron Black, [18.02.20 05:41] The crypto space is tiny compared to the legacy systems we've had for fifty years, so I look at every project as a way to bring new people into crypto-ecosystem. Tron Black, [18.02.20 05:41] If we add value, features, and capabilities, then more people will learn about the Ravencoin platform and what it can do for them. Tron Black, [18.02.20 05:41] The ERC-20 smart contract is an alternative asset issuance option, but Ravencoin is much better for most uses, so more education is needed. Tron Black, [18.02.20 05:41] https://medium.com/@tronblack/ravencoin-better-than-erc-20-88a276d3e434 Tron Black, [18.02.20 05:41] -------------- [email protected], [18.02.20 05:42] Quesiton#13 What is the uniqueness of the Raven token? Why should investors (including me) invest in Raven? Tron Black, [18.02.20 05:42] Ravencoin is a platform. Tron Black, [18.02.20 05:42] You should evaluate the capabilities of the Ravencoin platform and ask yourself whether it will be used, and whether it adds value over other platforms like ETH, EOS, or TEZOS. Tron Black, [18.02.20 05:42] Hint: It does. I try not to provide investment advice, so do your own research. Tron Black, [18.02.20 05:43] https://ravencoin.org Tron Black, [18.02.20 05:43] https://medium.com/@tronblack Tron Black, [18.02.20 05:43] --------------- [email protected], [18.02.20 05:43] Quesiton#14 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? Can you explain this? Tron Black, [18.02.20 05:43] Ravencoin is already a global phenomenon. Tron Black, [18.02.20 05:44] South Korea has been onto Ravencoin for some time now, and I had the opportunity to speak at a South Korean Ravencoin meetup that filled an Art Hall with a waiting list. Tron Black, [18.02.20 05:44] Because of OKEx, that awareness will expand to China. Tron Black, [18.02.20 05:44] Our focus is building and education about Ravencoin. Tron Black, [18.02.20 05:44] There is no marketing budget, and we raised no funds. Tron Black, [18.02.20 05:45] The success so far has been completely organic, and Ravencoin has the best community of any coin, anywhere. Tron Black, [18.02.20 05:45] ------------ [email protected], [18.02.20 05:45] Here is THE LAST question#10 from Twitter before we accept questions from the Telegram chat. what are your hopes with the $RVN listing on u/OKEx Okex going forward? Tron Black, [18.02.20 05:45] I hope the OKEx $RVN listing brings awareness of Ravencoin to new parts of the world. Tron Black, [18.02.20 05:46] The project is more capable than most people know, and because it was launched without raising any funds, there isn't a marketing budget. Tron Black, [18.02.20 05:46] It is up to smart individuals, like yourselves, to figure out what Ravencoin can do, and use the technology to make new companies and new projects. Tron Black, [18.02.20 05:46] ------------------ +++++++++++++++++++++ Tron Black, [18.02.20 05:57] >>> When is mainnet launch? January 3, 2018 Tron Black, [18.02.20 06:01] >>> A project's Technical development may not always be reflected on the price of it's token. What is raven doing specifically to increase price of its token? I agree. And I think it is especially true in the case of Ravencoin. The true value may not be reflected in the short-term. The Ravencoin project isn't a company. It will take time. There isn't a marketing dept or budget, but through events like these, and podcasts, and blogs, and new projects building on top of Ravencoin, I think the value will eventually be reflected. Tron Black, [18.02.20 06:06] >>>> Give me some important reasons why we need to buy RVN token where in fact hundreds of project failed and it went to bankruptcy or even developers run when they collect millions/billions of funds…? Can you explain it to us Many got burned during the crazy ICO phase of 2017. Ravencoin did not participate. Ravencoin is technology and a passionate community. If I get hit by a bus tomorrow (heaven forbid), the project will continue because it is free, open-source and anyone can carry it on, or contribute, or use it, or copy it. Ravencoin can't go to bankruptcy. It is code, and it doesn't borrow, or or have debt. Some of the core develoepers, myself included, are allowed to work on the project while working for Medici Ventures. This is a great arrangement. Tron Black, [18.02.20 06:06] ----------------- Tron Black, [18.02.20 06:10] >>>> How does RAVENCOIN evaluate the importance of the user community? In the near future, does RAVEN have any special plans to attract and expand the community ? The Ravencoin community is the most important and valuable part of the project. There are already clones of the code, but not of the passionate, helpful, and dedicated community. We invite you to become a part of it, and help expand it in Asia. Tron Black, [18.02.20 06:10] -------------------- Tron Black, [18.02.20 06:13] >>>>. RVN is regulatory compliant project for assets tokenization in U.S. Meaning that the assets issued in RVN protocol is fine with the U.S authorities. Ravencoin provides features that help U.S. issuers stay legal under the existing U.S. rules. I've written about how this can be done, but I would always recommend having your plans reviewed by a competent attorney. The U.S. rules are complex, and from a different era. Tron Black, [18.02.20 06:13] --------------- Tron Black, [18.02.20 06:18] >>>> Ravencoin is constantly finding new big partners.Audience is constantly growing.What’s the secret to this growth rate? A vibrant, and welcoming community. Technology that solves real tokenization problems. Easy-to-use, so anyone can participate. Not launching as an ICO, so it is fair for everyone. Tron Black, [18.02.20 06:18] -------------- Tron Black, [18.02.20 06:20] Thank you everyone for the fantastic questions. I would like to answer every one of them, but it is after 4am and I should get some sleep. I really appreciate all the participation, and I hope your trading on OKEx goes very well for all of you!!!
2Ether dynamic block rewards: adjustment based on the market price
In our previous post, we described how the base block reward in 2Ether changes gradually with time to control inflation. In this article, we’ll see how miners’ rewards are adjusted depending on the market price. In a perfect world, price should clearly follow supply and demand. For example, if you reduce the block reward, fewer new coins will enter the market every day, while the demand will remain the same. So the price will go up. There won’t be as many buyers willing to pay the new higher price, and a new equilibrium will be reached. This is what happens every time Bitcoin goes through a halving. The number of BTC produced every day is cut in half, and the price invariably rises. Everyone expects the same thing to take place in May 2020, after the new halving. However, the pricing mechanism in the crypto market — especially for altcoins — isn’t so efficient. We all know that huge fluctuations can happen suddenly. And besides, altcoins tend to react strongly to what happens to Bitcoin. On the one hand, when something bad suddenly happens in the BTC market, it can be great for ETH and other tokens. For example, when the SEC ruled against Bitcoin ETFs, BTC lost almost 30%, but ETH grew by 200%. On the other hand, most cryptocurrencies show a significant correlation with BTC. For Ethereum it surpassed 0.90 in some periods. We can expect ET2 to be correlated with Bitcoin to a certain extent, too. So for example, if a crypto whale suddenly places a huge sell order on Bitcoin and pushes the price down by $1000, all other coins — including 2Ether — can experience a price decrease. In such a situation, miners will lose some of their income. They will sell the ET2 they mine but get a smaller amount of fiat money in return. At the same time, they will still have to pay for energy, hardware, and rental spaces in fiat. So their fiat revenue will go down, but their fiat costs will stay the same. If their profit becomes negative as a result, they might leave the market. In 2Ether, we use an intelligent and efficient solution to this problem. The base price will be adjusted regularly depending on how the market price of ET2 changes. We use the following formula: Price-adjusted Reward = Base reward\(last price/current price)* Every 30 blocks, our system will fetch the up-to-date ET2 price from Coinmarketcap. Since our average block time is 1 minute, this will happen roughly once in every half an hour. For example, if the price was $1 and then fell by 1% to $0.99, the base reward will be increased by 1%. This way, the mining revenue will remain stable even when the price fluctuates. The miners will have a clear strategy: - Sell their mined ET2 when the price is high to maximize revenue; - Save their rewards when the price is low and then sell them when the price increases — they gain an additional profit. We believe that this system is much more fair towards small miners, who cannot benefit from economy of scale. One of the main goals of 2Ether is to create a framework where GPU miners have a level playing field with big farms. The price adjustment of the base reward will help us achieve exactly that. https://2ether.com/ Web site — https://2ether.com/ Twitter — https://twitter.com/2Ether_ Discord — https://discord.gg/TuqG4py Facebook — https://www.facebook.com/2Ethe Reddit — https://www.reddit.com/use2Ether Medium — https://medium.com/@2ether Teletype — https://teletype.in/@2ether Telegram — https://t.me/ether2support Telegram chat — https://t.me/blockchain_2ether
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