Who Accepts Bitcoins in 2020? List of 20+ Major Companies

Miners are Selling Their BTC Reserves, and Why That's Bullish

In the last week, miners have sold ~6900 BTC but have mined ~6100 BTC. This means they are selling Bitcoin from their reserves. Here are two potential explanations:
  1. Miners' Bitcoin-denominated revenue was cut in half because of the Halving, making some miners unprofitable. These inefficient miners are selling reserves to pay for their electricity and operational expenses, holding out and betting on price to increase instead of cashing out and shutting down.
  2. Miners are selling their reserves because they're confident that there are enough buyers to support the price. Miners have been dumping reserves but the price has held up.
Either way, miners seem to be bullish. For a more in-depth explanation, check out this quick article I wrote covering this.
submitted by heist95 to Bitcoin [link] [comments]

Analysts predict that dollar will get weaker and Peter Schiff called bitcoin a financial pyramid

Analysts predict that dollar will get weaker and Peter Schiff called bitcoin a financial pyramid

https://preview.redd.it/86epk40798c51.jpg?width=2560&format=pjpg&auto=webp&s=757c400fe5801d5109f126540bf6c71f1a236c45

Peter Schiff: bitcoin is a financial pyramid

Euro Pacific Capital broker company president Peter Schiff goes on with his criticism against bitcoin.
This time the businessman called BTC a financial pyramid whose participants protect the idea of bitcoin because they are personally interested in its efficiency.
"The very nature of Bitcoin requires owners to encourage new buyers to enter the market. Without new buyers coming in, there is no way for existing HODLers to get out. As with any pyramid scheme, success is only possible for those who get in early if lots of others get in late", Schiff wrote in his Twitter account.
Earlier he had worded the idea that BTC price would drop down to zero.

Weak dollar will strengthen the position of bitcoin and gold

DTAP Capital investment fund co-founder Dan Tapiero thinks. The policy of the US Federal Reserve System will weaken dollar in the nearest future, which will supposedly affect bitcoin, gold and stocks.
The analyst's position is based on data from the FRS that they plan to weaken their struggle with inflation in order to support commercial activity. Tapiero points out that if the level of inflation exceeds 2%, the dominating role of dollar in the world economy will be undermined.
"Dollar consolidating for one month but now on verge of benign selloff that further supports equity, gold and Bitcoin", the analyst worded his opinion.

The Morgan Creek co-founder urged everyone to move out of dollar

Morgan Creek co-founder Anthony Pompliano thinks that currencies are prone to inflation so it is necessary to move funds to other assets.
Central banks regularly print new batches of cash, which will cause an instant spike in inflation at one moment. Pompliano notes that it is especially true for US dollar since the US Federal Reserve System has recently been issuing a large number of new banknotes.
"There is a devaluation of currency. The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff", the expert advised.
submitted by bestchange_pr to bestchange [link] [comments]

TkeyNet: release date, a brief analysis of the system, future plans

TkeyNet: release date, a brief analysis of the system, future plans

https://preview.redd.it/ayym7cl9c1b51.png?width=700&format=png&auto=webp&s=367792bdc6acdcc670345cf1d6e12865d681b21b
During the development of the project, we published 3 documents about the technology that we are developing and preparing for the market. Some decisions were changed, but the main idea and goal remained the same — effective financial management.
Since the ICO boom, several years have passed, blockchain and cryptocurrencies have become synonymous and are perceived only as a means of earning money and the obvious advantages of using the technology itself in combination with others are of little interest to anyone. A user, business representatives, or some government officials associate the word “blockchain” directly with cryptocurrency or Bitcoin, without thinking about using systems built on a distributed registry in the current reality.
As we mentioned above, during the development of the project, several documents were published in which we announced our technology and clearly said that we are mixing modern concepts and approaching the market from an economic and scientific point of view, borrowing the best from Bitcoin, Ethereum, DASH, and other alternative currencies.
It is important to note that the concept of Bitcoin or Monero will be different from the concept of TkeyNet. These are other areas and practical application that some market participants may perceive as similar, but this is far from the case.
“When you innovate, you must be prepared for a prolonged lack of understanding of your actions on the part of your environment. You can do something you believe in, but for a long time, people who only wish you well may criticize your endeavors. When faced with such criticism, ask yourself — Are they right? And if you answer this question positively, accept the criticism and adjust your work accordingly. If the answer is negative, if you are firmly convinced of your rightness, you should prepare for a long defense, defending your positions. This approach is a key component of innovation.” ©
The idea of Bitcoin is beautiful, even if it has not yet been accepted by society as planned, but at least the idea of using Bitcoin as a means of accumulating value and storing savings has a place to be. Bitcoin actively strives for a high price mark and dominates the market by more than 50%, and this is a great result. Bitcoin set the necessary vector for many developers around the world, people were able to review the systems used and make their own decisions based on the Bitcoin core, for example, DASH or Ethereum, and users, in turn, learned about such a phenomenon as cryptocurrency.
In General, what was this introduction for? That TKEY should be considered as a universal asset, without defining it as a cryptocurrency. The question may immediately arise, why is this so? It doesn’t have explicit currency properties? Bitcoin also does not have the properties of cash but is called a cryptocurrency, and the types of applications of the peer-to-peer payment system Bitcoin and TkeyNet can differ significantly from each other.
https://preview.redd.it/3qfe582cc1b51.png?width=700&format=png&auto=webp&s=406f3c93314c473f9b9c9512e543fa33c6211067
The purpose of this publication is to tell you about the new features of TkeyNet, when the official transition to the new Protocol will take place, and why TKEY is a universal asset that simply needs liquidity? In General, we will talk about the clear advantages of switching to new technologies that we have been striving for so long and about your benefits of using them accordingly.

What is TkeyNet, and what are its advantages?

TkeyNet is an infrastructure that combines various solutions for users, businesses, and the public sector. Secure corporate networks, payment processors, liquidity, cross-border payments, trading tools, information security, instant exchanges, investment tools. One platform — millions of opportunities.
https://preview.redd.it/bwewihsdc1b51.png?width=700&format=png&auto=webp&s=4bfc1343b46a1eb51f0b972cac509cc1893f3fa4
When creating TkeyNet, we immediately turned to e-cash protocols, concepts of electronic currencies, considered the movements of Bank international transfers, and also drew attention to the obvious complexity of these systems. Therefore, to build a high-quality architecture of TkeyNet, the team took as a basis — blockchain technology, cryptography, payment and banking system, electronic cash protocols, exchanges, stock markets, DHT, and other p2p networks.
Now more than ever, businesses, users, and most financial market participants need reliable and modern systems that will meet the needs of the market.
For example, a user wants to quickly send funds to another user, and they do not want to think about how the blockchain works and who the “miners” are and what they do for the network. Any of us want to open the app and click a few buttons on the screen to pay for a particular service or send money to relatives abroad and the most importantly, know that the funds will reach you quickly and with a minimum Commission. Or let’s say you came to India, you have some funds in Bitcoin, but you would like to pay for your purchases in the local currency — the Indian rupee without extra conversions.
You are the owner of a payment system or Bank, and you want to receive % for conversion transactions, or banks want to create their consortium for cross-border payments. Either you are an entrepreneur and plan to open an exchange or trading platform for trading various assets, not necessarily digital, but, for example, gold and diamonds, or you are a young and purposeful startup team and want to quickly launch your Digital Bank, or you do not want to do business, and you have several million euros or dollars, you want to get % of their use.
https://preview.redd.it/hkv2xcpfc1b51.png?width=626&format=png&auto=webp&s=4ae497765a2d02b66046d5a112eb0dd4f1eeb0bc
TkeyNet makes these features available to all participants.
As we can see with you, there are quite a lot of use cases, and it may seem that TKEY is again torn into 100500 different directions, but this is far from the case. Here, a specific and clear direction is Finance and its movement.

How TkeyNet works

Remember, we said that — “to develop the platform on a global level, it is necessary to reach a consensus between government regulation, business, and society. We understand that it is impossible to achieve 100% of this, but it is possible to create favorable conditions favorable to all parties.”
How will the system work? All participants are connected to the system using TkeyNet technology that allows the financial gateway to control their transactions with increased speed, transparency, and efficiency. Independent verification servers constantly compare their transaction records. To hack the system, you will need to get access to all the devices that are logged in.
https://preview.redd.it/ltwgjrhhc1b51.png?width=700&format=png&auto=webp&s=413d03504eafa2b496cf99d837b6a2a1c9ba6818
TkeyNet solutions offer a cryptographically secure, end-to-end payment flow with the immutability of transactions and redundancy of information contained in them. It is developed to meet each financial gateway’s risk, privacy, and compliance requirements. Since the software is developed to be easily integrated into the existing financial infrastructure, it minimizes any integration costs and failures, and also meets international standards (ISO, etc.).

TkeyNet can be a neutral utility for financial institutions and systems

A gateway is an organization that allows users to invest money and take money out of a pool of liquidity. The gateway accepts currency deposits from users and issues balances to the TkeyNet blockchain.
TkeyNet Protocol provides a single source of truth for counterparties while maintaining the confidentiality of payment data of Bank clients.
TKEY is a universal bill (digital obligation) in the distributed registry TkeyNet.
Gateways install specialized software for interacting with the distributed registry and other system participants. Users, brokers, and other participants interact with the system via mobile or web interfaces. Gateways act as a link between the distributed registry, brokers, users, and other services that allow you to make quick transactions.
https://preview.redd.it/igdiw4tjc1b51.png?width=700&format=png&auto=webp&s=3a25f8f6b74a0cebf2450d05a7bf7c675547e624
The participants of the system make payments between themselves by using cryptographically signed transactions denominated in digital obligation. This type of transaction uses an internal registry.
In the case of working with Fiat currency and other assets, such as securities and precious metals, the registry records the amounts owed with assets presented as debt obligations. All accounts and transactions are cryptographically secure and verified algorithmically. Payments can only be authorized by the account holder, and all payments are processed automatically, without any third parties or intermediaries. The TkeyNet Protocol checks balances and accounts inside the system for transferring payments and sends payment notifications with minimal delay, which ensures fast calculations in the system.
For more specialized solutions can be created by the Central gateways and the gateways just. A Central gateway is an organization that allows users to invest money and take money out of the liquidity pool. Gateway is an organization that interacts with the Central gateway. Accepts and exchanges digital liabilities for other assets, such as securities.
TkeyNet globally reduces the number of different expenses and automates operational tasks, simplifies and reduces the cost of conducting monetary transactions, and improves traditional financial services.
We understand that it is not easy to tell all the principles of the TkeyNet system in a single publication, especially one that deals with neither one nor two issues. Therefore, you should consider this material as a basis, a base that will help you learn the information that is related to the TkeyNet Protocol most easily after the release of TkeyNet.
Moving a little away from corporate solutions, we suggest you recall some theses from our roadmap, which was published on the official website in the period from September 2018 to November 2019:
“The introduction of the exchanger in web wallets and the app will allow users to send money in one currency, and the recipient will receive it in another currency. For example, a user can buy Tkeycoin for dollars and exchange it for euros or Bitcoin or Ethereum at the current exchange rate.This functionality provides full control of funds through a single trusted and most secure source. Users no longer need to create multiple accounts on third-party resources to make an exchange into a particular currency.With the development of the network, it is possible to implement a multi-exchange that works on the principle of a payment bridge, when the user sends funds to Tkeycoin, and the recipient chooses the receiving currency, let’s say Litecoin, the funds are automatically converted” ©
https://preview.redd.it/htf048hmc1b51.png?width=700&format=png&auto=webp&s=9be3fe4895b5bece5c7c0d72548d4724e46556a7
We wrote above that TKEY can in principle be used as a universal asset, acting as a digital obligation or an asset as an exchange. By the way, references to this were also published on the official website — tkeycoin.com. In simple words, using one of our web interfaces, you can access TKEYRUB or TKEYUSD or any other asset, such as TKEYGOLD.
TKEYUSD, TKEYRUB, and TKEYGOLD are symbols and can be called differently in the system, for example, TKUSD or GOLDTKEY, so now they should be considered as an example.

Why is TKEY a universal asset?

As before, you can easily and quickly send TKEY to any member of the network and TKEY will have liquidity on the exchange also, TKEY allows you to fast exchange for euros, dollars, or other currencies.
https://i.redd.it/qapkdnvoc1b51.gif
For the interface, the applications will display functions of digital assets 1:1 to a particular currency, for example, TKEY to RUB, TKey to EUR, or TKEY to Dirhams or TKEY to the pound and vice versa, respectively.
https://preview.redd.it/0ipx86fqc1b51.png?width=700&format=png&auto=webp&s=a406e9c0f181a5d0b1ecde347511954ba61bf433
Therefore, as we said above, TKEY should not be regarded as a cryptocurrency, it is a universal unit inside the system TkeyNet, which may refer to transaction information as exchanges of obligations between banks and transaction TKEY -> TKEY between users, or to carry information about the exchange on the exchange or the exchange of digital assets or gold variations quite a lot, for most of the functions we describe in the release day TkeyNet.

What are the advantages for companies and developers?

First of all, we strive to open the doors for all platform participants. Only through synergy and cooperation can we accelerate the pace of development of the entire system and the introduction of new technologies in the market.
The platform will open doors for developers, who in turn can create technological solutions based on TkeyNet. A working environment will be created, and integration with the TkeyNet platform will be as easy as with the documented SDK or plug-ins. In the course of development, API documentation and ready-made SDKs for developers will be published.
https://i.redd.it/31x1k7gsc1b51.gif
This will make it easy to use and implement TkeyNet technology in various types of applications, for example, you want to create fast exchanges, we provide you with a framework, back-end, and API, and you create a front-end and launch your service, get your Commission, and are an independent project in the market. An important point is that integration into the existing infrastructure takes place while maintaining the decentralization of the TkeyNet system so that all its internal and external operations remain confidential and verified at the same time.

What are the advantages for users?

This means getting a universal tool for working with financial markets and easily converting an asset into any other asset: euro, dollars, or gold.

https://preview.redd.it/ol4964huc1b51.png?width=626&format=png&auto=webp&s=7fedfc9009201cb8c392be3f214f285d003c0d95
Also, TKEY owners should clearly understand that the more the system develops and there are more participants, namely the corporate segment, projects, and partners, the company will be more stable and thus the project assets will grow stronger.
The popularity of the platform and trust in it directly affects the price of assets, these are the key points of growth signs, the wider and more influential the spread of the company in various areas, the higher its performance in the market.

When will the long-awaited transition to TkeyNet take place?

What changes will be made to the products?

As you understand, everything will change, and this is for the better. At a minimum, products will become faster, lighter, safer, and more versatile.
Changes and new releases will be released as soon as they are ready. In TkeySpace, the TKEY libraries will be rewritten under TkeyNet. A web version of the wallet will appear, and eventually, an application with an exchange interface will be released for quick trading and exchange of various assets, not limited to digital ones. The Tkey Messenger will be adapted for TkeyNet and will be released for previously announced platforms: iOS, Android, Linux, macOS, Windows immediately with the ability to translate directly in the messenger. We will tell you about the messenger architecture on the release day.
All changes and releases will be published and announced after the release of TkeyNet.

What is radically new in TkeyNet?

There will be funds, the Protocol will become much more universal, as well as the TKEY itself. The Protocol will also exclude the possibility of attacks that could have been in Core 1.0, also, the principles of the platform will change. We will publish all technical specifications on the day of release.

Timeline for switching to TkeyNet

The transition to TkeyNet will not take place until August 2020. We will release news and instructions for switching to TkeyNet, so we recommend that you subscribe to the newsletter immediately: https://tkeycoin.com/en/newslette.

Listing on crypto exchanges

The liquidity of the TKEY asset is urgently needed for the development of the entire TkeyNet system, so the company will provide trading platforms for TKey trading and exchange.

Conclusion

The introduction of technologies using digital currencies will create the fastest transition of users and the corporate market to a new level.
FinTech direction makes it possible to manage finances in the most efficient and secure way, without violating the law. This system simplifies, reduces the cost of conducting monetary transactions, and actually improves traditional financial services.
The solution is interesting to everyone who works with money and is used to getting maximum efficiency from it: business, investors, traders, users of banking solutions, the corporate segment, etc. When using the system, large businesses get solutions for interacting with customers online, without using specialized points.
We, in turn, are open to various offers and cooperation on flexible terms. If you have any suggestions or interesting concepts, please contact us at [[email protected]](mailto:[email protected]).
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

BTC Miners Are Selling Reserves, and Why This Is Bullish

Over the last week, miners have sold more Bitcoin than they've actually mined, meaning they're selling their reserves. I think this is bullish, and there are two potential explanations:
  1. Miners' Bitcoin-denominated revenue was cut in half because of the Halving, making some miners unprofitable. These inefficient miners are selling reserves to pay for their electricity and operational expenses, instead of shutting down. They're holding out and betting on price to increase.
  2. Miners are selling their reserves because they're confident that there are enough buyers to support the price. Miners have been dumping reserves but the price has held up.
Either way, miners seem to be bullish. I wrote this quick article going into more detail if you want to learn more.
submitted by heist95 to CryptoCurrency [link] [comments]

Removed comments/submissions for /u/OverLeveraged14

Hi OverLeveraged14, you're not shadowbanned, but 97 of your most recent 105 comments/submissions were removed (either automatically or by human moderators).

Comments:

ft8ds4z in CryptoCurrency on 07 Jun 20 (1pts):
bitcoin relies 100% on confirmation bias. everyone yells ''its amazing'' because they're financially biased, but they dont actually believe it. they just hope someone will pump their bags. to me the...
frm76ad in Crypto_com on 24 May 20 (1pts):
simply put, they dont support canadian banking and canadian dollars. at least yet. might change when they add debit card for canada since i would assume that will be denominated in CAD but i could...
frkvb1u in CryptoCurrency on 23 May 20 (1pts):
eth has a 5x premium on greyscale, i just dont understand how anyone can accept that lol. https://i.imgur.com/eeXlo9H.png
frkloxd in Crypto_com on 23 May 20 (1pts):
keep calm and eat jellybeans.
frkiibm in CryptoCurrency on 23 May 20 (1pts):
bitcoin answer to this is ''but store of value bruhh''
frkfuy6 in Crypto_com on 23 May 20 (1pts):
you can use it to go 1.5x leverage. loan 5k, buy btc, btc goes up, sell 5k worth and keep the difference. free real estate bruh! just kidding, leverage is dangerous :)
frk8jee in CryptoCurrency on 23 May 20 (1pts):
Zcoin, its an establish coin that's been around for a while, has some interesting stuff happening this year but mainly just looking at the chart is enough for me to take the risk. bought a...
frk6eir in CryptoCurrency on 23 May 20 (1pts):
beware of POS coins in general. it doesnt matter if you make 100% if the coin goes down 90%, you still lose 80% of your money. its fine to prefer pos over pow if you dont care about the security as...
frk5z26 in CryptoCurrency on 23 May 20 (1pts):
im sure Kenyans love paying half their wealth in fees.
frk5mht in CryptoCurrency on 23 May 20 (1pts):
fwiw, there's a loser on each side of a trade.
frk5hn6 in CryptoCurrency on 23 May 20 (1pts):
here's a little tip, if a coin has a sub coin to pay fees, its garbage.
frk5cdn in CryptoCurrency on 23 May 20 (1pts):
haaa yes, the indicators that rewrite themselves to make it look like they called the shots
frk4pia in CryptoCurrency on 23 May 20 (1pts):
i like cryptowatch. has standard list but also has charts and a few other useful views like this. https://cryptowat.ch/cards/assets also has a bunch of other...
frk2zzv in CryptoCurrency on 23 May 20 (1pts):
i cant wait for 1000sat/byte as a standard when btc hits 100k$! its gon be great! i really dont care if 90% of my paycheck vanishes in a transaction fee cause ill hodl till i die! i already threw...
frjwzk9 in CryptoCurrency on 23 May 20 (1pts):
well, at least he's not shilling a scam this time i guess?
frjvori in CryptoCurrency on 23 May 20 (1pts):
people didnt expect that kind of bull run in 2016, at least no that i remember. there was some hype early on in 2017, specially because of ETH, i still cant tel wheter or not btc rode on eth's...
frjt8r7 in CryptoCurrency on 23 May 20 (1pts):
eth by far. bitcoin is racing towards a dead end and everyone knows it but choose to ignore it and scream moon all day long. its sad but true bitcoin cant sustain anymore growth and there's no plan...
frjr53k in technology on 23 May 20 (1pts):
how about let it fucking sink so it can be bought for a penny on the dollar? only thing this system is doing is promoting irresponsible business management because ''why take precautions or innovate...
frjq6q8 in technology on 23 May 20 (1pts):
the best way to make you gmail inbox safer is to use protonmail instead haha.
frjg2ez in CryptoCurrency on 23 May 20 (1pts):
i can attest to this. i did a piece that shows how 4mb block would HELP bitcoin adoption AND decentralization and was banned for promoting BCH, which i havent talked about once in all of my...
frjfwao in CryptoCurrency on 23 May 20 (1pts):
no, its means goldman needs a conference call to tel investors not to buy bitcoin.
frjfehq in CryptoCurrency on 23 May 20 (1pts):
proof of funds is the scummiest bullshit ever created. allows institutions to literally steal money from legitimate users who cant provide a proof. its easy for freshly earned money now that we know...
frjbtml in CryptoCurrency on 23 May 20 (1pts):
it doesnt really matter how much the fed prints, because it wont leave the fed without someone taking the loans, and nobody wants a loan right now. theses funds mainly exist in order to prevent the...
frgj543 in politics on 22 May 20 (1pts):
why? its not like he has issues routing a billion dollars of public funds over to Ukraine.
frggmty in CryptoCurrency on 22 May 20 (1pts):
''in a nutshell'' dont hang out in bitcoin or btc, bitcoin has gestapo mods and btc is salt all day long.
frfp692 in WhitePeopleTwitter on 22 May 20 (1pts):
just go gamble 100x till you make it, ez.
frfoe8c in LifeProTips on 22 May 20 (1pts):
Discord my friend, Discord.
free9l1 in CryptoCurrency on 22 May 20 (1pts):
hahaha, no.
fredual in CryptoCurrency on 22 May 20 (1pts):
dw bout it, everyone pays to learn in this space. some later than others. better take your loses early on rather than get your illusion of success shattered down the road.
frdpvm8 in CryptoCurrency on 21 May 20 (1pts):
all you had to do is claim you hex, for free. if you dont pay for something, how are you getting scammed? you have no clue who gave him that eth, for what purpose, and if they're okay with him...
frdo9tl in CryptoCurrency on 21 May 20 (1pts):
lets be honest, sending them to an exchange that has ''Fren with justin sun'' written all over it was not exactly his most genius moment.
frde4ag in CryptoCurrency on 21 May 20 (1pts):
folding is great but it honestly pisses me off at the same time. there is so much spare computing power owned by american companies and almost all of it is never put to use for folding, it should be...
frddkuy in CryptoCurrency on 21 May 20 (1pts):
''investing'' in crypto is honestly the wrong way to think about it. gambling is a much better term. at best you're all in on btc and you're hedging against fiat inflation, at worst you buy any...
frdcffn in CryptoCurrency on 21 May 20 (1pts):
that explains why you know nothing about it.
frdaz60 in CryptoCurrency on 21 May 20 (1pts):
doubtful. negative interest rates in a deflationary environment wont be a big deal. yall really seem to misunderstand how good the USD is at fucking you over. keep believing hyperinflation is gonna...
frdantd in CryptoCurrency on 21 May 20 (1pts):
you havent seen nothing yet my man. 2017 had fees up to 100$. its gonna happen again.
frcveyn in CryptoCurrency on 21 May 20 (1pts):
considering he thinks bitmex sells trader's fund on spot after they place a trade, its fair to say this guy doesnt know anything about anything.
frcn75e in CryptoCurrency on 21 May 20 (1pts):
this is the dumbest article ever made on crypto.
frcmmkz in CryptoCurrency on 21 May 20 (1pts):
you're an idiot.
frcgfqm in CryptoCurrency on 21 May 20 (1pts):
while i agree that bitcoin sucks as it is and needs a block size increase (4mb would be perfect for now and wouldnt change a damn thing about decentralization) bsv is garbage and bch too.
frcg7pc in CryptoCurrency on 21 May 20 (1pts):
those 3 pools are also made of thousands of individuals. its not the pools' hashrate. if they start messing with the network, that hashrate will leave fast as fuck.
frc3yb5 in CryptoCurrency on 21 May 20 (1pts):
yet only 5mil in liquidity. useless network.
frbyhp0 in CryptoCurrency on 21 May 20 (1pts):
btc blocks should be 4mb-8mb right now to keep in line with technological advancement since the 1mb block limit was implemented. prove me wrong. ill debate anyone. and before you ask, im a btc...
frbxj5j in CryptoCurrency on 21 May 20 (1pts):
opening the pandora's box for market manipulation is a bad thing for wallstreet. these's patterns are not exclusive to crypto, at all, and ''trapping'' and stop hunts has been done for decades. this...
fr8anz5 in CryptoCurrency on 20 May 20 (1pts):
honestly wouldnt be surprised. btc isnt going anywhere without scaling and ln is a cluster fuck for adoption.
fr64v2n in Bitcoin on 19 May 20 (1pts):
rofl.
fr64mko in Bitcoin on 19 May 20 (1pts):
this is software or 3rd parties trapping people into having to use those fees.
fr649wf in CryptoCurrency on 19 May 20 (1pts):
that company is a fucking leech regardless how you look at it. trying to make itself relevant by attacking others. they arent doing anyone but themselves a favor. you can hate on XRP just as much as...
fr62m0n in Bitcoin on 19 May 20 (1pts):
this is absolute garbage propaganda to assume that nodes would drop out rather than upgrade. im so fucking tired of people pretending like buying a 400$ computer to run a node is a problem but...
fr61jya in Bitcoin on 19 May 20 (1pts):
supply is 18million, not 900/day. there's plenty to buy from. also if you are talking about paul tudor jones, he didnt buy a single bitcoin and said so himself that he would only be playing futures...
fr60yqv in Bitcoin on 19 May 20 (1pts):
store of value is NOT a use case, and bitcoin is NOT widely adopted.
fr5yqcw in Bitcoin on 19 May 20 (1pts):
" not really looking for financial advice " maybe you should.
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

Frequently Asked Questions (Constantly Updated)

This is where you can find answers to some of the most frequently asked questions. If you can't find what you are looking for then perhaps try browsing our WIKI, or one of our past AMA Recaps!
The "most asked" questions are listed first. These will consistently change to reflect Kava's current landscape.

Relevant Questions (Timely)






Crypto Payday


  • How do I qualify for Crypto Payday?
    • Use Kava's DeFi Lending Platform to mint USDX.
      • Currently USDX can only be minted w/ BNB.

  • When are Crypto Paydays?
    • Every Wednesday.
      • Staring July 15th, 2020
      • Ending July 16th, 2021

  • Where can I go to mint BNB?
    • The new features will be accessible via integrated wallet and exchange applications such as Cosmostation, Forbole, Trust Wallet, and Frontier.

DeFi Lending Platform


  • What assets does Kava's DeFi Lending Platform currently support?
    • BNB

  • What are the next assets that will be supported by Kava's DeFi Lending Platform?
    • They Kava community will vote for the next supported asset.
      • Leading contenders are BTC, XRP, and Atom.

  • How are loans given out?
    • Once a user deposits collateral, loans are given out via USDX (Kava's Stable Token)

  • How much USD is USDX worth?
    • Each USDX is the equivalent of $1 (USD)

  • What should I do w/ my USDX?
    • Starting on June 10th you'll be able to begin earning minting rewards on your USDX via Kava's Crypto PayDay promotion.
    • In the very near future (Possibly Late June/Early July) USDX will be listed on exchanges, and can be used to purchase more crypto (Margin Trading) or can be cashed out.
    • Those who mint USDX prior to it's exchange listings will be considered "Early Adopters"

  • Why should I become an Early Adopter of the Kava DeFi Lending Platform?
    • Early Adopters who use the DeFi Lending platform prior to a USDX exchange listing should be doing so for the purpose of leveraging their existing BNB.
      • Early Adopters can take advantage of the Kava Payday rewards, which are likely to off their highest yield within the early stages of the promotion.

  • How/where can I access Kava's DeFi Lending Features?
    • The new features will be accessible via integrated wallet and exchange applications such as Cosmostation, Forbole, Trust Wallet, and Frontier.

  • What happens if my BNB deposit drops in price and becomes undercollateralized?
    • Similar to a traditional margin call, users will be required to deposit more assets (BNB) to bring their collateral back up to par with the loan they have minted.
    • Users will also be able to use their USDX to pay back the loan.
      • Thus, allowing the users to unlock and reclaim their deposits (BNB)

  • How is Kava different from MakerDao?
    • Maker Dao only accepts Ethereum based crypto assets, but Kava accepts all crypto assets!

  • Where can I go to learn more about Kava's DeFi Lending Platform?

Kava Token


  • What is the Kava Token?
    • The Kava Token is a fungible crypto asset of the Kava Blockchain.
    • It is a token that is native to the Kava Blockchain.

  • Where is the Kava Token currently Traded?
    • In 2019, The Kava Token became the first DeFi asset to be tradeable on Binance.
    • Besides from Binance, the Kava Token is available on over a dozen different exchanges including BitMax, MXC, and CoinOne.
    • For a complete list, check out Kava's Market Pairs Page on CoinMarketCap

  • Is the Kava Token currently on any American exchanges?
    • Currently there are not any American exchanges that are trading the Kava Token.
    • Kava works very closely w/ the US Securities & Exchange Comitee to make sure that everything Kava does falls within their guidelines.
      • When the time is right, Kava will be listed on American Exchanges.
      • It is a goal to be listed on American Exchanges, before the end of 2020.

  • How can Americans hold Kava?
    • Kava can be traded amongst users via a multitude of different wallets.
      • Including: Binance, Trust Wallet, Frontier Wallet, Forbole, and Cosmostation amongst many others.

  • What is Kava's Ticker Symbol?
    • The Kava token is traded as:
      • KAVA (all caps)

  • How much of the Kava Token is currently staked?

USDX



  • Is USDX currently listed on any exchanges?
    • As of June 2020, USDX is not currently listed on exchanges.
    • The goal is to get USDX listed on multiple exchanges shortly after the June 10th launch of Kava's DeFi Lending Platform
      • July 2020 is a hopeful time window for USDX listings

  • What is the ticker associated w/ USDX
    • The ticker is listed as:
      • USDX (all caps)


  • Why is USDX valuable?
    • USDX is the highest earning USD denominated account available for modern investors.
      • USDX offers superior yields without additional risk compared to traditional alternatives like checking and savings accounts that only deliver miniscule returns.

Kava General





  • Who are the Kava Knights?
    • The Kava Knights are an unofficial community group which is composed of the most loyal and dedicated of Kava Enthusiasts.
    • Kava may work w/ The Knights at times to co-promote contests and other community engaging activities, but they remain are not an official Kava community.


  • What set's Kava apart from similar projects?

  • Where should I go if I'm looking to become a validator?


  • Why did Kava choose to build with Cosmos?

  • When did Kava's mainnet go live?
    • Kava's mainnet when live in Autumn of 2019

  • What about Kava's CDP Mainnet?
    • Kava will launch it's CDP Mainnet on June 10th, 2020
      • This will be used to support Kava's DeFi Lending Platform
      • View the official announcement! (Coming Soon)



General Questions



  • What does "Cross Chain DeFi Platform" mean?

  • When does "CDP" stand for?
    • CDP stands for Collateralized Debt Position


  • Why do people use DeFi Lending Platforms?
    • DeFi Lending Platforms are used to take out loans.
      • Users deposit crypto as collateral, and then they receive a loan paid out in Stable Coins.
      • Kava currently accepts BNB as collateral, and pays out loans in USDX (Stable Coin)
      • People can use their loans for anything their hearts desire, but most will choose to use the funds to facilitate Margin Trading

  • What is minting?
    • Whenever a user deposits assets into a DeFi Lending Platform as collateral, they recieve a loan paid out in stable coins.
      • Prior to this loan, those stable coins did not exist.
      • The stable coins were "Minted" as a direct result of collateralization that spawned the loan.
    • In regards to Kava, users deposit collateral (like BNB) in order to "mint" USDX - which ultimately represents the loan that the user will receive.
submitted by Kava_Mod to KavaUSDX [link] [comments]

Hybrix: Blockchain for all chains

Third party services currently assist users to exchange one form of digital cash or asset for another, but a trusted third party is still required to mediate these transactions.
We propose a solution to the problem of these isolated digital currency systems using a meta-level transfer protocol with an extendable and modular design, making accessible any kind of ledger-based economy or other digital cash system for cross-blockchain and inter-systemic transactions.
Every hybrix protocol transaction yields profit to these respective ecosystems by paying transaction fees to their network supporting miners and stakers.
Technically Bitcoin earlier on had solved some of the problems of the reversibility of transactions and trust issues that plagued online commerce new players in the arena are offering replacements for Bitcoin's peer-to-peer payment solution.
Its transactions are stored in a data block inside the attachment section of a zero-value transaction on any distributed ledger system.
Transactions containing meta data pay the usual fees denominated in the base currency Our proposal is to create a protocol - called hybrix protocol -as a cross-ledger colored coin, making it technically borderless and not bound to a single ledger system.
Intersystemic transaction A transaction occurring between two distinct ledger systems.
Entanglement Informational connection between two transactions on separate ledger systems, that functionally relate them as a cross-ledger transaction.
Validator Network actor that analyses past transactions and makes available the legitimacy of these transactions according to the rules of the system protocol.
Double spend A transaction that illegitimately increases the money supply in a ledger system.
Immutability of past transactions attachment The data included with a transaction, sometimes called message or in the case of Bitcoin and its derived coins - OP RETURN. Primarily used on most ledger systems for annotation of the transaction.
Transactions have a unique transaction id OPRETURN An Bitcoin script opcode used to mark a transaction output as an attachment field for storing data 3 invalid.
Figure 2: The parsing function p parses the attachment of the base transaction into the required fields.
Intersystemic Transactions 3.2 Structured Data on a Ledger We define an electronic intersystemic token as a block of structured data that is inserted into the attachment section of a zerovalue transaction on a distributed ledger system.
The content of the attachment of transaction on a base ledger can be parsed into a second layer transaction of the meta ledger.
A parsing function p will extract the required meta transaction details from the base transactions attachment as well as using details from the base transaction that are still relevant.
Token ownership is secured by the underlying ledger system every time a transaction is done.
Each owner transfers their zero-value transaction containing the token data to another owner by digitally signing a hash of the previous transaction and the current transaction.
The only thing that is added to the recipe is the ledger symbol, and transaction hash of where the verification hash can be found.
Subsequently the token is minted on the same address using a followup transaction 3.
cross-ledger entangled transactions Other Types of Transactions tion and then choosing a branch that has not yet been validated.
When a transaction contains more data than a ledger system can handle in its attachmentstorage space, the transaction may be split up, and sent using a transaction accompaniedby tailing part transactions that complete thecontents of the entire operation 7.
A swap transaction is legitimate when the counterparty responds to a swap proposal using a signing transaction.
Finally a burn transaction returns spendable HRC1 token balance to address E on the Ethereum chain 9.
In case of a collision, validators will only accept the recipe that was proven first by way of the genesis transaction.
The older genesis transaction must also be recorded in the recipe, so the chain of mutations can be followed and approved by validators.
Validators check a new incoming recipe for validity first, by comparing its hashes with available data in the blockchain, and authenticating that the updated genesis transaction has been done using the same secret key as the first genesis transaction.
Validation of Transactions DR AF T 6 5 6.1 Mutation of Monetary Supply Validation as a Service External validation should be handled in a decentralized manner using a consensus amongst multiple validator nodes.
If a transaction fee is enforced by the ruleset, the supply is subtracted from on every transaction.
7 7 Examinations 7.1 Validating the Validators Validators need to be rigorously examined in order to find out if they are properly doing their job of validating transactions on the chains.
In the case that all is going according to plan validators check the transactions and record their findings for the public truthfully.
In sending a transaction they can opt to pay a higher fee, and this will result in more validators eager to validate the user's chain of transactions.
A decentralized consensus state database maintained by a pool of validators will consist of a sub tree Tn0 where n increments with each state update, providing a snapshot of the agreed upon valid transaction tree.
To ensure the recovery from a 51% attack on any one single chain, snapshotting by validators could enable network users to request the verification of the current ledger and balances state, regardless of a transaction history tainted by 51% attack damage.
Common hybrix Index Storing the genesis transaction ID, or other hash information in every transaction would require a significant amount of blockchain storage as the volume of transactions grows.
The token protocol Omni, on the contrary, uses an index number for the asset ID in every transaction.
Where less computing and storage resources are available a hybrixjslib client can be used to sign and interpret transactions and get necessary data from a publicly available hybrixd node API. AF T Deterministic Libraries and API Connectors For a meta ledger we define a seed k KL¯ that can be used to generate a corresponding key pair in each base ledger using the function χL¯ : L¯ K(` ) χL,j :K L j DR 9 ψL : KL AL We connect to a large variety of blockchain APIs using a peer-to-peer network daemon called hybrixd 10.
Deterministic functions are used to generate key pairs for all included 10 Conclusion We have proposed a system for meta-level transfers across multiple distributed ledgers 10 Notes without relying on centralized exchanges or decentralized atomic transaction compatibility.
The process of moving value between ledger systems is not controlled by a centralized party, as transactions can be created and signed client-side and sent peer-to-peer among users.
We started with the usual framework of second-layer tokens specified by storing data attached to transactions, which provides a method of accounting on top of existing ledgersystems, but is incomplete without a way to prevent double-spending.
submitted by ramanpandwar to XeraExchange [link] [comments]

Liquid CAD: Canadian dollar payments on the Liquid Sidechain

Hello fellow Canadian bitcoiners or bitcoinca! You will find below all the information related to the launch of Liquid CAD and Bull Bitcoin's Liquid Bitcoin integration. I'll be checking comments here to answer your questions! I'm also posting some comments on my announcement tweet here: https://twitter.com/francispouliot\_/status/1245758698120605697?s=20

Making the Canadian Dollar Bleed Into Bitcoin

Building the infrastructure for the Bitcoin Standard in Canada before the collapse of fiat currencies is the critical mission objective that drives innovation at Bull Bitcoin.
We are very excited to announce an important milestone in fulfilling this duty: the public release of Liquid CAD, our newest product designed to accelerate and facilitate the adoption of Bitcoin.
Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet.
Users acquire Liquid CAD by withdrawing their account balance out of Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
L-CAD assets can only be redeemed for Bitcoin. They cannot be redeemed for a fiat currency payment.
Liquid CAD is a unique project rethinking the concept of fiat-pegged assets, avoiding the banking business model of “fiatcoin” (aka stablecoins) in favor of a prepaid payments model entirely centred around Bitcoin on-ramp and off-ramp. Liquid CAD is not a currency, nor is it a security: it is a prepaid card.
Importantly, the business model of Liquid CAD is not to collect interest on funds in our custody, unlike fiatcoins, but rather to drive the sales of Bitcoin from which we derive our revenue and we benefit from Liquid CAD assets being cashed out and thus removed from our balance sheet. Bull Bitcoin does not get any revenue from interest.
Every time an L-CAD token is purchased by a user, the amount of dollars deposited on Bull Bitcoin is guaranteed to one day be used by someone to purchase Bitcoin. It’s a one-way street: once a unit of fiat is tokenized as L-CAD, it’s never going back to its off-chain fiat form and will ultimately result in a buy order on a Bitcoin trading platform.
The Liquid CAD logo is a drop of blood because our objective is to accelerate “fiat bleed”, a phenomenon best described by Pierre Rochard in his magnificent essay Speculative Attack:
“Bitcoin will not be eagerly adopted by the mainstream, it will be forced upon them. Forced, as in “compelled by economic reality”. People will be forced to pay with bitcoins, not because of ‘the technology’, but because no one will accept their worthless fiat for payments. Contrary to popular belief, good money drives out bad. This “driving out” has started as a small fiat bleed. It will rapidly escalate into Class IV hemorrhaging due to speculative attacks on weak fiat currencies. The end result will be hyperbitcoinization, i.e. “your money is no good here. Bitcoins are not just good money, they are the best money. The Bitcoin network has the best monetary policy and the best brand. We should therefore expect that bitcoins will drive out bad, weak currencies. My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyperbitcoinization.”
Different representations of Canadian dollars compete to be used as payment methods (cash, bank balances, PayPal balances, closed-loop prepaid cards, open-loop prepaid cards, etc.) and that the winner will be the one that has the best Bitcoin saleability, i.e. which can be most easily sold for Bitcoin at a moment’s notice.
We’re very proud to provide this alternative payment method to Canadians in a time where the banking system is falling deeper into crisis, especially as the Canadian dollar is demonstrating itself to be one of the most pointless and weakest currencies that nobody really wants to hold.
Finally, we’re very happy to be partnering with Aquanow, our recommended institutional liquidity provider for high-volume BTC-CAD trading. They will accept Liquid CAD deposits and withdrawals as being interchangeable with Canadian dollars. We hope that Liquid CAD will become the standard representation of Canadian dollar value among Canadian Bitcoin users.

Liquid Bitcoin (L-BTC) integration

In addition to Liquid CAD, Bull Bitcoin is also announcing that Liquid Bitcoin (L-BTC) payments are now supported interchangeably with Bitcoin transactions for all Bull Bitcoin services. This means that our users can buy, sell and spend L-BTC instead of BTC.
Canadian Bitcoin traders can purchase L-BTC from BullBitcoin.com and fund their international trading accounts with L-BTC using ultra fast and cheap confidential transactions. They can also cash-out their Bitcoin balance as L-BTC from these platforms and sell those L-BTC for fiat on Bylls.com, avoiding risky and expensive international wire transfers to unknown and untrusted foreign banks.
The transactional benefits of L-BTC are very potent:
Disclaimer: Liquid Bitcoin (L-BTC) is not the same as Bitcoin (BTC). L-BTC Liquid Network assets are IOUs for Bitcoin held in a multisignature contract by the Liquid Network federation. The custody of the underlying Bitcoin is managed by a decentralized network of 15 members which process transactions and withdrawals from the multisignature contract according to the Liquid Federation protocol rules.

Liquid CAD detailed overview

Peer-to-peer prepaid payments by Bull Bitcoin

Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of the Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.

A new payment method in Canada

Liquid CAD can be used by anyone to send and receive payments denominated in Canadian dollars. Because of the permissionless nature of the Liquid Network, Bull Bitcoin cannot prevent Liquid CAD from being traded on secondary markets. Merchants, individuals and institutions must accept that only Bull Bitcoin can guarantee redemption of the L-CAD and that this redemption will be exclusively paid out in Bitcoin. Accepting Liquid CAD as payment is, in effect, the same as accepting gift cards as payment. However, Bitcoin being the most liquid commodity on the market, it can be transformed into any other currency easily for example using services such a Bylls which allow Canadians to pay all their utility bills, send bank transfers to third parties or sell Bitcoin to their bank account.

Making Canadian dollars bleed into Bitcoin

The purpose of Liquid CAD is to facilitate the transfer fiat in the context of the purchase and sale of Bitcoin and providing innovative new services that help Bitcoin users hedge the value of Canadian dollars against Bitcoin in the context of their commercial transactions. Our goal is to create a payment method that is specifically targeting Bitcoin users that wish to liquidate Canadian dollar payments for Bitcoin. Our mission is to accelerate the phenomenon known as “fiat bleed” whereby Canadians will gradually abandon inferior money (such as the Canadian dollar) for the superior Bitcoin alternative. Every Liquid CAD issued will ultimately be exchanged into Bitcoin. We are excited for the day Liquid CAD will be made obsolete by the inevitable hyperbitcoinization of the Canadian economy.

Regulation: is Liquid CAD a stablecoin?

Liquid CAD is not a general-purpose “stablecoin”. It is a closed-loop Bitcoin prepaid card. It can exclusively be redeemed for Bitcoin on the Bull Bitcoin platform (or at affiliated merchants). Bull Bitcoin is the only counterparty, and it cannot be redeemed for a canadian dollar payment. It is substantively the same as Canadian Tire money. Unlike stablecoins, Bull Bitcoin makes money with L-CAD by driving the sales of Bitcoin on its platform, and doesn’t collect interest on the deposits of Liquid CAD users.
The purchase of Liquid CAD with Canadian dollars is regulated in the Province of Quebec as a prepaid card under the Consumer Protection Act and the Regulation respecting the application of the Consumer Protection Act Consumer Protection Act which define a prepaid card as “a certificate, card or other medium of exchange that is paid in advance and allows the consumer to acquire goods or services from one or more merchants”.
The purchase of Bitcoin using Liquid CAD is regulated in Canada by the Financial Transactions and Reports Analysis Centre of Canada under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17).

Counterparty risk

Like all other closed-loop prepaid instruments, Liquid CAD has counterparty risk. The owners are trusting that they will eventually be able to use Liquid CAD as a payment method on the Bull Bitcoin platform to fund their account and purchase Bitcoin. When a Bull Bitcoin user withdraws his Bull Bitcoin account balance as an L-CAD token, the Canadian dollars he used to fund this balance remains in our possession in the same manner as regular Bull Bitcoin vouchers. These funds are used to execute Bitcoin purchases when L-CAD owners decide to redeem their L-CAD for Bitcoin. In essence, each L-CAD is “backed” by the Canadian dollar deposit of the user that withdraws it from the platform in the first place.

Benefits of using and accepting Liquid CAD for payments

Irreversible, non-custodial and no bank required

Liquid CAD payments cannot be charged back, cancelled, delayed or frozen. There is no intermediary between the sender and the recipient. It is a bearer asset: whoever owns the keys owns the coins. It is a perfect way to accept payments or transact securely without depending on banks and payment processors. Canadians can use Liquid CAD to purchase Bitcoin and then use Bylls.com to pay billers, personal payees or simply sell Bitcoin to their bank account.

Fast transaction and cheap fees

Liquid Network transactions are sent and received instantly and require 1 minute for settlement. Transaction fees paid using Liquid Bitcoin can be as low as 300 satoshis per transaction (a few cents). In order to benefit from these cheap fees, make sure to download the latest version of the Elements software and ensure that the minimum transaction fee is set at 100 satoshis per kilobye. It only takes a few minutes to set up a free Liquid Network wallet, such a Green Wallet by blockstream.

Confidential transactions

Unlike Bitcoin, transactions between the sender and the recipient are encrypted. It is impossible for third parties observing Liquid CAD transactions on a block explorer to determine the amount of the transaction. In addition, it’s also impossible to even know you are using Liquid CAD, since the data identifying the asset itself is also encrypted!

What are the use-cases of Liquid CAD?

Buying and selling Bitcoin

The primary use-case of Liquid CAD is to make it easier to buy and sell Bitcoin on the Bull Bitcoin platform. By withdrawing their balance from Bull Bitcoin, users are reducing some (but not all) of the custody risk associated with keeping fiat currency on an exchange. For example, use Liquid CAD to create your own non-custodial dollar-cost-averaging schedule!

Onboarding new Bitcoin users

New users can be overwhelmed by the experience of dealing with banks to buy Bitcoin (and the heavier KYC process of account funding). You may be tempted to buy Bitcoin for them, but that will impose a lot of burdens on you. It’s much easier to set them up with a Green wallet, send them Liquid CAD and show them how to use Bull Bitcoin! They decide when is the right time for them to invest, with a lower KYC burden.

Hedging Bitcoin price

You may believe the price of Bitcoin will go down in the short term, but you still want to hold Bitcoin in the long term. Normally you have two options: short the Bitcoin price (very risky!) or sell your Bitcoin and receive Canadian dollars in your bank account (inconvenient!). By selling your Bitcoin for Liquid CAD, you can lock in the value of Bitcoin right now and buy them back later without needing to use your bank account or taking risks with leverage.

Accepting payments

As a merchant, you want to receive the settlement of payments in Bitcoin. But this imposes a burden on your customers, which have to deal with the Bitcoin price volatility when they are paying you. Ask your clients to pay you with Liquid CAD, and you can get the settlement with Bitcoin on your own terms.

Payroll and suppliers

What if your staff or suppliers want to get paid in Bitcoin? It can be very difficult, because this means you are effectively buying Bitcoin on their behalf. Instead, you can pay them in Liquid CAD and let them deal with the process of choosing the exchange rate and using their own wallet. Let them deal with the tax burden, exchange rates and Bitcoin wallet security.

List of Bull Bitcoin Liquid Network features

Withdraw account balance as L-CAD

This is conceptually the same as “buying” Liquid CAD with your account balance. We call it “Withdrawing L-CAD” because on the Bull Bitcoin platform, we consider L-CAD and CAD to be interchangeable and fungible.

Fund account balance with L-CAD

To redeem Liquid CAD for Bitcoin, users need to first fund their account by selecting the “Deposit L-CAD” payment method. Bull Bitcoin users must always fund their account first before buying Bitcoin, and then purchase Bitcoin with their account balances. Reminder: account balances cannot be withdraw as fiat payments, but can later be withdrawn again as L-CAD.

Sell Bitcoin for L-CAD

You can sell Bitcoin and receive Liquid CAD payments instead of a bill payment, personal payee payment or bank payment. As soon as the Bitcoin transaction is confirmed, the Liquid CAD transaction is sent to the address you provided.

Liquid Bitcoin (L-BTC) and Bitcoin interchangeability

For every service which involves a Bitcoin payment, the user can substitute traditional Bitcoin payments for Liquid Bitcoin payments. This includes:
***********************************
Original medium post: https://medium.com/@francispouliot/liquid-cad-canadian-dollar-payments-on-the-liquid-sidechain-f7e3309f8a5f
Official landing page: lcad.bullbitcoin.com
Application page: bullbitcoin.com/l-cad
submitted by FrancisPouliot to BitcoinCA [link] [comments]

Staking in Ethereum 2.0: when will it appear and how much can you earn on it?

Staking in Ethereum 2.0: when will it appear and how much can you earn on it?

Staking in Ethereum 2.0: when will it appear and how much can you earn on it?

Why coin staking will be added in Ethereum 2.0

A brief educational program for those who do not follow the update of the project of Vitalik Buterin. Ethereum has long been in need of updating, and the main problem of the network is scalability: the blockchain is overloaded, transactions are slowing down, and the cost of “gas” (transaction fees) is growing. If you do not update the consensus algorithm, then the network will someday cease to be operational. To avoid this, developers have been working for several years on moving the network from the PoW algorithm to state 2.0, running on PoS. This should make the network more scalable, faster and cheaper. In December last year, the first upgrade phase, Istanbul, was implemented in the network, and in April of this year, the Topaz test network with the possibility of staking was launched - the first users already earned 1%. In the PoS algorithm that Ethereum switches to, there is no mining, and validation occurs due to the delegation of user network coins to the masternodes. For the duration of the delegation, these coins are frozen, and for providing their funds for block validation, users receive a portion of the reward. This is staking - such a crypto-analogue of a bank deposit. There are several types of staking: with income from dividends or masternodes, but not the device’s power, as in PoW algorithms, but the number of miner coins is important in all of them. The more coins, the higher the income. For crypto investors, staking is an opportunity to receive passive income from blocked coins. It is assumed that the launch of staking:
  • Will make ETH mining more affordable, but less resource intensive;
  • Will make the network more secure and secure - attacks will become too expensive;
  • Will create an entirely new sector of steak infrastructure around the platform;
  • Provides increased scalability, which will create the opportunity for wider implementation of DeFi protocols;
  • And, most importantly, it will show that Ethereum is a developing project.

The first payments to stakeholders will be one to two years after the launch of the update

The minimum validator steak will be 32 ETN (≈$6092 for today). This is the minimum number of coins that an ETH holder must freeze in order to qualify for payments. Another prerequisite is not to disconnect your wallet from the network. If the user disconnects and goes into automatic mode, he loses his daily income. If at some point the steak drops below 16 ETH, the user will be deprived of the right to be a validator. The Ethereum network has to go through many more important stages before coin holders can make money on its storage. Collin Myers, the leader of the product strategy at the startup of the Ethereum developer ConsenSys, said that the genesis block of the new network will not be mined until the total amount of frozen funds reaches 524,000 ETN ($99.76 million at the time of publication). So many coins should be kept by 16,375 validators with a minimum deposit of 32 ETN. Until this moment, none of them will receive a percentage profit. Myers noted that this event is not tied to a clear time and depends on the activity of the community. All validators will have to freeze a rather significant amount for an indefinite period in the new network without confidence in the growth of the coin rate. It’s hard to say how many people there are. The developers believe that it will take 12−18 or even 24 months. According to the latest ConsenSys Codefi report, more than 65% of the 300 ETH owners surveyed plan to use the staking opportunity. This sample, of course, is not representative, but it can be assumed that most major coin holders will still be willing to take a chance.

How much can you earn on Ethereum staking

Developers have been arguing for a long time about what profitability should be among the validators of the Ethereum 2.0 network. The economic model of the network maintains an inflation rate below 1% and dynamically adjusts the reward scale for validators. The difficulty is not to overpay, but not to pay too little. Profitability will be variable, as it depends on the number and size of steaks, as well as other parameters. The fewer frozen coins and validators, the higher the yield, and vice versa. This is an easy way to motivate users to freeze ETN. According to the October calculations of Collin Myers, after the launch of Ethereum 2.0, validators will be able to receive from 4.6% to 10.3% per annum as a reward for their steak. At the summit, he clarified that the first time after the launch of the Genesis block, it can even reach 20.3%. But as the number of steaks grows, profitability will decline. So, with five million steaks, it drops to about 6.6%. The above numbers are not net returns. They do not include equipment and electricity costs. According to Myers, after the Genesis block, the costs of maintaining the validator node will be about 4.75% of the remuneration. They will continue to increase as the number of blocked coins increases, and with a five millionth steak, they will grow to about 14.7%. Myers emphasized that profitability will be higher for those who will work on their own equipment, rather than relying on cloud services. The latter, according to his calculations, at current prices can bring a loss of up to minus 15% per year. This, he believes, promotes true decentralization. At the end of April, Vitalik Buterin said that validators will be able to earn 5% per annum with a minimum stake of 32 ETH - 1.6 ETH per year, or $ 304 at the time of publication. However, given the cost of freezing funds, the real return will be at 0.8%.

How to calculate profitability from ETN staking

The easiest way to calculate the estimated return for Ethereum staking is to use a special calculator. For example, from the online services EthereumPrice or Stakingrewards. The service takes into account the latest indicators of network profitability, as well as additional characteristics: the time of operation of a node in the network, the price of a coin, the share of blocked ETNs and so on. Depending on these values, the profit of the validator can vary greatly. For example, you block 32 ETNs at today's coin price - $190, 1% of the coins are blocked, and the node works 99% of the time. According to the EthereumPrice calculator, in this case your yield will be 14.25% per annum, or 4.56 ETH.
Validator earnings from the example above for 10 years according to EthereumPrice.
If to change the data, you have the same steak, but the proportion of blocked coins is 10%. Now your annual yield is only 4.51%, or 1.44 ETH.
Validator earnings from the second example over 10 years according to EthereumPrice.
It is important that this is profitability excluding expenses. Real returns will be significantly lower and in the second case may be negative. In addition, you must consider the fluctuation of the course. Even with a yield of 14% per annum in ETN, dollar-denominated returns may be negative in a bear market.

When will the transition to Ethereum 2.0 start

Ben Edgington from Teku, the operator of Ethereum 2.0, at the last summit said that the transition to PoS could be launched in July this year. These deadlines, if there are no new delays, were also mentioned by experts of the BitMEX crypto exchange in their recent report on the transition of the Ethereum ecosystem to stage 2.0. However, on May 12, Vitalik Buterin denied the possibility of launching Ethereum 2.0 in July. The network is not yet ready and is unlikely to be launched before the end of the year. July 30 marks the 5th anniversary of the launch of Ethereum. Unfortunately, it seems that it will not be possible to start the update for the anniversary again. Full deployment of updates will consist of several stages. Phase 0. Beacon chain. The "zero" phase, which can be launched in July this year. In fact, it will only be a network test and PoS testing without economic activity, but it will use new ETN coins and the possibility of staking will appear. The "zero" phase will test the first layer of Ethereum 2.0 architecture - Lighthouse. This is the Ethereum 2.0 client in Rust, developed back in 2018. Phase 1. Sharding - rejection of full nodes in favor of load balancing between all network nodes (shards). This should increase network bandwidth and solve the scalability problem. This is the first full phase of Ethereum 2.0. It will initially be deployed with 64 shards. It is because of sharding that the transition of a network to a new state is so complicated - existing smart contracts cannot be transferred to a new network. Therefore, at first, perhaps several years, both networks will exist simultaneously. Phase 2. State execution. In this phase, various applications will work, and it will be possible to conclude smart contracts. This is a full-fledged working Ethereum 2.0 network. After the second phase, two networks will work in parallel - Ethereum and Ethereum 2.0. Coin holders will be able to transfer ETN from the first to the second without the ability to transfer them back. To stimulate network support, coin emissions in both networks will increase until they merge. Read more about the phases of transition to state 2.0 in the aforementioned BitMEX report.

How the upgrade to Ethereum 2.0 will affect the staking market and coin price

The transition of the second largest coin to PoS will dramatically increase the stake in the market. The deposit in 32 ETH is too large for most users. Therefore, we should expect an increase in offers for staking from the exchanges. So, the launch of such a service in November was announced by the largest Swiss crypto exchange Bitcoin Suisse. She will not have a minimum deposit, and the commission will be 15%. According to October estimates by Binance Research analysts, the transition of Ethereum to stage 2.0 can double the price of a coin and the stake of staking in the market, and it will also make ETH the most popular currency on the PoS algorithm. Adam Cochran, partner at MetaCartel Ventures DAO and developer of DuckDuckGo, argued in his blog that Ethereum's transition to state 2.0 would be the “biggest event” of the cryptocurrency market. He believes that a 3–5% return will attract the capital of large investors, and fear of lost profit (FOMO) among retail investors will push them to actively buy coins. The planned coin burning mechanism for each transaction will reduce the potential oversupply. However, BitMEX experts in the report mentioned above believe that updating the network will not be as important an event as it seems to many, and will not have a significant impact on the coin rate and the staking market. Initially, this will be more likely to test the PoS system, rather than a full-fledged network. There will be no economic activity and smart contracts, and interest for a steak will not be paid immediately. Therefore, most of the economic activity will continue to be concluded in the original Ethereum network, which will work in parallel with the new one. Analysts of the exchange emphasized that due to the addition of staking, the first time (short, in their opinion) a large number of ETNs will be blocked on the network. Most likely, this will limit the supply of coins and lead to higher prices. However, this can also release some of the ETNs blocked in smart contracts, and then the price will not rise. Moreover, the authors of the document are not sure that the demand for coins will be long-term and stable. For this to happen, PoS and sharding must prove that they work stably and provide the benefits for which the update was started. But, if this happens, the network is waiting for a wave of coins from the developers of smart contracts and DeFi protocols. In any case, quick changes should not be expected. A full transition to Ethereum 2.0 will take years and won’t be smooth - network failures are inevitable. We also believe that we should not rely on Ethereum staking as another panacea for all the problems of the coin and the market. Most likely, the transition of the network to PoS will not have a significant impact on the staking market, but may positively affect the price of the coin. However, relying on the ETN rally in anticipation of this is too optimistic.
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[Weekly Report] BSV transaction fee is lower

[Weekly Report] BSV transaction fee is lower
Dear friends of LivesOne,

As block sizes get bigger and technology improves, BSV community hopes that more people can use the BSV public data ledger to reduce transaction fee.
On May 13, TAAL, the transaction processor, processed a block of 309MB in size, which contains 1178322 transactions, with a total transaction fee of up to 0.788BSV. If denominated in legal tender, the average fee per transaction is about 0.0009 Yuan RMB.

https://preview.redd.it/l5as5227fuz41.png?width=1240&format=png&auto=webp&s=4abcb3767200719104ccdc54167eb74021666587

  • Current rate of BSV transaction fee
In the Bitcoin market, miners participate in blockchain mining with an aim to make profits. However, as the Bitcoin network recently experienced its halving, transaction fees gradually become more important. The future competition will focus on those transaction processors who can handle more network transactions.
At the beginning of this year, MemPool, the leader of BSV mining pool, announced that they would work with Tall and Coingeek mining, bitcoin mining giants,to support enterprise blockchain applications and reduce the transaction fees. The statement marks the birth of a new trend in which mining companies seek more sustainable profit models to ensure their long-term development.
Transaction processor is expected to adjust its BSV transaction fee rates as relevant to respond to market forces. It will be implementing the following changes to transaction fees charged by its cloud computing operations on the BSV network:
  1. A reduction in the transaction acceptance fee (-blockmintxfee) from 1 satoshi/byte to 0.5 satoshis/byte.
  2. A reduction in the relay fee (-minrelaytxfee which is the minimum fee required for double spend protection and for relaying of a transaction) from 1 satoshi/byte to 0.25 satoshis/byte.
  3. In an additional, but unrelated, change the restrictive limit of 25 unconfirmed ancestors will be immediately raised from 25 to 50.

  • Expectation of BSV transaction fee
Many enterprises are exploring blockchain applications to improve their business. These projects are becoming more and more common, but there are some challenges in the application of the public chain. Bitcoin transaction fees are not expressed in legal tender, but in "sat / byte". Therefore, transaction fees in legal tender price will fluctuate with the fluctuation of the price of bitcoin.
TAAL promises to regularly check the lower BSV transaction fees to maintain stable transaction fees in legal tender. Large enterprises usually want to be able to predict their costs, so stable transaction fees are expected to attract more enterprises to use BSV for data applications.
In addition, due to the difficulty in corporate policy and accounting treatment, enterprises do not or cannot show holding digital assets on their balance sheets. Business participants in the BSV ecosystem have recently begun to explore alternate transaction fee models that provide, in fiat currency terms, greater reliability for BSV business applications – including business deals for miners to directly handle a particular application’s set of transactions for negotiated fee rates or development of tools that enable greater fee customization to be offered by miners to applications.
This evolving fee marketplace is new to bitcoin; it was not possible on the Bitcoin Core network due to its smaller block size and significantly higher transaction fees. This new fee marketplace is only recently enabled by BSV’s greater data and microtransaction capabilities. It is expected that this will bring more users to BSV and attract more partners to strengthen its ecosystem.
With the increasing of BSV trading volume, we can also see the further reduction of transaction fee rate. BSV promises an exciting blockchain future. LivesOne's vision is to enable more ordinary people to use better blockchain applications, and lower fee will help LivesOne realize its vision. LivesOne is eager to participate in the future construction of blockchain with you.

Symbiosism Economy Foundation
May 20, 2020
submitted by LivesoneToken to LivesOne [link] [comments]

The Post-Coronavirus Economy

THE POST-CORONAVIRUS ECONOMY 02/04/2020
I like to approach looking at economics like a physicist. There are very few maybes in physics. They mention and value going back to first principles when things go wrong. So does architecture, if you find the central idea of your design is lost. That's my background.
If you understand game theory, it's quite apparent that so much of social structure is based on the Prisoner's Dilemma. This mindset seems prevalent also in many philosophical discussions, ancient and modern, such as Nietzsche and Diogenes, framing the human condition / human nature (HN) as being a weakness to overcome. I presume this comes from a mindset to overcome scarcity through dominion and therefore, cultures that reinforce our familiarity with that. However, despite our capacity for creativity and imagination and the absolute evidence that we have been able to overcome nature itself, we still create artificial, synthetic systems that are based on this old framework. We have stepped beyond overcoming natural systems and now play the game of overcoming systems themselves. The trouble is those systems are inherently disempowering because they are still built on fear based game theory that waste the most resources: war, politics, and finance are the most wasteful of all.
Ideas for solutions and the present day, magic bullet or not, are still built on those same fear-based frameworks: to overcome HN. Despite so many people wanting empowered change, we think this is the exception, not the hope of the norm. Such a framework is also familiar to us so it's easy to find solutions within a comfort zone that doesn't really change very much and we may be waiting for a personality to lead us to that change without losing that comfort. Experience from previous and even current political and religious leaders has not led to empowered change. But it is not just large-scale problems. It's also small-scale where businesses are in perpetual debt. These dichotomies make great stories to trickle down for people to tell and write books about, but that doesn't resolve the problems. Many don't want those problems to be solved because there's no money in it.
If we are to be leaders for the world to be a better place, then we must look at practical empowered systems that all people can use with little need for hierarchical goverance or fear. One of the best engineering companies, Arup, are renowned for their 2-level company structure and are renowned for some of the greatest engineering feats globally.
We need to find trust-based systems built on the abundance of our creativity and imagination that includes all things.
If you listen to people discussing authenticity and trust, there is a strong dividing line between someone is being sponsored or the product was bought with their own money. This already shows how powerful exchange really is in driving trust between people, or not. Look at how many YouTubers with their promotions stipulate where the product was given by a company or they bought it from their own money to preempt whether they are being honest or not.
It's interesting to find that in so many solutions put forward for empowered change, the design frameworks of currency are seldom looked into. People may offer new processes for currency and exchange but they are still built on the same usury frameworks that incentivizes people to quantify wealth in terms of money with little regard of what created that money.
My objective here is to offer you a model that incentivises and empowers all people to look at profit and wealth on qualitative frameworks that build trust, in both competitive and collaborative relationships, to value sustainable synergy in creating experiences to empower the most people for all.
During this time with the coronavirus, with this mass devolution of economic empowerment, timed or opportunistic, it's essential to find solutions that don't revolve around panics like this again and be left to still more messengers wanting your sacrifice, confinement and/or self immolation to support the rest.
So, let's get back to first principles. Let's look at the physics of humanity's identity and its relationship with nature, and discover the exchange model framework that supports the sustainable synergy of that to the greatest empowerment possible.
. . . . .
THE FUNDAMENTALS
The objective here is to present a logic and the framework which empowers all people and has no need to compromise. This must be on qualitative terms where there is a dynamic empowered synergy that is adaptable and diverse dependent on location and capacity.
I would find it hard to argue that the most self-actualised empowered people measure their highest wealth is ultimately how we create to empower the most people in the most sustainable way possible, to redundancy. Anything we do, has to support this absolute. It must be structured on the strongest people that possess and act in distributing empowerment to the rest of their community.
From this central idea, we must build a adaptive social framework that incentivises such empowerment in the most constructive way possible.
Let's look at the basic fundamentals to work with:
Human Nature (HN):
Adapts to it's environment. This is the beginning of how we build culture.
In scarcity or abundance, we are valued by the excellence of what we create.
Highest excellence empowers the most people to survive.
Loves something to strive for.
Is the only species that has overcome natures limitations.
Thrives on creative capacity and imagination.
Wants to be remembered.
We want to trust more than fear others. Children are an excellent example of presenting this. Even as adults, we want to trust if we can, particularly government and authority. It's easier.
Wants to be as lazy as it can possibly be to achieve the greatest gain. we always pick the easiest path to get something if it is possible. Whether that is through taking advantage of people, taking the past of least resistance, or being able to create something to make things easier for others, is dependent on the framework that creates the most status and wealth.
When we govern such capacity with frameworks of disempowerment, it divides creative capacity, regardless of whether resources are scarce or abundant. This dissuades logic to empower cohesively and devolved to weakness being prioritised in decision making. We have built a model of exchange and social structures that promote weakness.
Fundamentally, however, all people want to achieve excellence. How we design the framework defines whether that's against other people or with other people.
If you define something about human nature on a negative framework, then it is more important to look at yourself and ask what is lacking in yourself to think such a thing.
Environment (E):
Resources are always scarce, but our creative capacity is limitless.
Resources only those that are useful to the central idea.
For resources to be their most plentiful, natural symbioses between them must be maintained and regenerative. Any adaptive social framework must support this.
Social Frameworks (SF)
How we value wealth define status.
How we govern defines status.
It doesn't matter whether it's from a disempowered or empowered framework, all that matters is how well we do that to achieve status with our greatest self-security in mind. If a framework is built around scarcity, then mainstream status will always be based on the success of overcoming this. If it is based on abundance, then mainstream status will be based on the best to cultivate that.
Fear drives separation. Joy drives integration.
We are also more likely to trust someone who offers an opportunity to overcome fear. This is most apparent in times of desperation. This usually doesn't end well.
if social frameworks are built around fear, then it only establishes the fear. It does not overcome it.
Money/Currency/Exchange (M)
Money doesn't exist unless we create something and somebody wants it. If there is nothing to buy, money is meaningless.
People's capacity to create is the real money. If we do nothing, there is no economy. Therefore, money must be directly based on the work people do. Basing money on something outside of that disconnects that basic fundamental.
Wealth is not money if there is nothing to buy. Therefore, money is always servant to peoples' capacities to create.
There are only three money structures to define and work with: usury (positive cost), demarrage (negative cost) and neutral (no cost). What defines which are empowering or not are dependent on how much is available, how it's distributed, I know if it is based on the work of people or something else.
Usury does not mean exorbitant cost. If this was the case, then there is an undefined band of money which is little cost. This seems to be conveniently swept under the carpet. It also implies that it cost on currency is fundamental. It isn't. Anyone that promotes such a definition of exorbitant cost and/or interest is not interested in sustainable synergy solutions.
Basing currency on something outside of work incentivises using it as a commodity of its own value. Basing it on work makes this impossible with the right parameters.
Cryptocurrencies are not different to any other mainstream currency if it follows the same frameworks as usury currency. it is just the same thing delivered a different way. Bitcoin is quite different to every other alternate currency due to specific parameters that made it difficult to continue as an exchange mechanism versus a store of value that many people have tried to overcome. This brought on ICO commodity boom that was purely fictitious, totally missing the larger picture that Bitcoin wanted to present. That again shows how powerful changing currency can be for sustainable empowered change.
Here are the parameters to scrutinise:
What is it based on?
Is the volume infinite or finite?
How is that volume distributed?
Is there a cost?
There are also only three frameworks of currency cost:
Usury (any interest or fee)
Demurrage
No cost (neutral).
Unfortunately, we have been dealing with usury currency as a commodity for as long as humanity can remember and built our understanding of human nature from that. It is built on the framework of disempowering social structures that Prisoner's Dilemma game theory succinctly presents. It defines HN as a prisoner by default. Why? Money has almost always been created from violence and disempowerment to gain dominion to combat scarcity. David Graeber's book Debt: The First 5000 Years, establishes this. Usury currency has always been connected to political power disempowering people, regardless of whether it's capitalist or communist or anything in between. The only difference has been from the people who choose to have status to empower or disempower. As most democracies separate currency from governance, politics will not change anything unless you change fundamental frameworks to incentivize leadership to support people by default.
What usury currency and the Prisoner's Dilemma really demonstrate is that we trust what people tell us to overcome our fears and we try and trust what they say because we're told we cannot trust ourselves. So we choose to accept fighting disempowerment rather than leveraging empowerment because we are led to believe it's easier to follow then be an independent peer competing and collaborating for the greater good.
It seems the human condition is that a gravitates to fear and not trust itself instead of the opposite. That's quite different to defining human nature that objectifies humanity to be perpetually bad and need to be saved from itself.
This is beyond ethics and virtue to be prevalent in creating empowering frameworks. It is more relevant to incentivise the ethics of excellence in empowering frameworks. It seems some people mistake the word excellence to mean self against others. No one achieves excellence without the help of others and so in-kind excellence supports excellence. That is the highest ethic.
. . . . .
BUXB
It is here that I will present the parameters of the buxbi model and how it languages and incentivises people to want to be sustainable in the creativity regardless of their personality. It takes out the argument of whether humanity needs to be saved or not. It takes out objectifying people being good or bad, true or not. What they create and why will define whether they are worth your time. If they're not doing their best to create experience is to empower the most people, including yourself, in the most sustainable way possible to redundancy, then they are not going to be efficient with your time to warrant it.
BUXB means Be yoU eXchange Bank. The denomination of currency is 'bux'. The parameters of bux are as such:
It is created by the exchange of work between at least two people. If nothing is done there are no bux.
As a result, no money is created independently of work done. BUXB is not able to be bought by other currencies.
Total exchanges balance to zero, except in regards to education. In such a case, all people participating in an education platform are paid by the bank.
The bank's deficit is the positive of education that is happening in the community. The volume and type of transactions recorded by the bank, irrespective of the amount, will show what interests the community or communities involved. This is transparent for everyone to see to know where to best use their energy, to the individual's greatest interest.
No one is forced to exchange with another person if they choose not to.
What people choose to create to exchange is transparent to everyone else in the community. again, this is to inform not just the community what has the greatest benefit to create but also the interest of the person in wanting to create it. It will also establish how good day are at it which only promotes them more.
People are free to give what they wish and record it in the bank if they want to.
If someone chooses to keep a transaction a secret, for whatever reason, they are welcome.
the bank exists simply as a ledger of exchange and amount of what people choose to create. It cannot create any currency whatsoever. Anyone working for the bank is paid by the bank. There are no taxes taxes from the community to run it.
Community projects are mandated by direct democracy which people at BUXB manage. The only advantage 4 people both at the bank and the community Ark pick the projects that best support empowering the most people in the most sustainable way possible to redundancy. Since this is the case, there is no compromise between self interest and the community. On a project being decided on, the best people who can do that most efficiently will be the people that will be paid. Such civil or community costs will be covered by the bank.
the bank is not a separate entity or corporation or business that requires profit. It is simply a quantitative record of exchange between people in the community and communities that use the same currency.
To overcome any misconceptions that charging more would mean more wealth, no one can be paid more than 60bux an hour. As prices of products are based on the amount of work that people do, there is a natural incentive of the price mechanism to fall for everything while quality increases. This establishes that products and services of higher quality cost less.
There is no loss of a free-market. The natural consequence of presenting ideas to the community to use their time in the most efficient way possible to effectively empower others in the most sustainable possible to no longer at needing to be required is the incentive for people to give their time to such ideas. Competing ideas will be based on those parameters. If there is a conflict of which idea is better, the natural consequence of this is either consensus to follow one project or for both projects to work concurrently to find out which is best. This is still the most efficient means of using resources instead of conflict in resolving who is better without actually have any experience to know and learn from doing what the idea of say they were going to.
Resources that people own using BUXB are not taking away from them. they only become available as they see fit while they become more comfortable and empowered using a model that has more options. It will become plain to realise that trying to find ways to look after properties you own when people are more independent is more difficult but you gain more connecting with people with what they make and don't lose your comfort for your security a,d experience; you gain it a different way
Any business built by many people will have a part of the business in some way to attain part of that future profit. But as the price mechanism is quite different in BUXB, participants would game or by selling products at the price that it took to make it. Ask the price will be quite different to what it would be in usery currency, the real value is that quality increases ice prices fall.
The true currency really is people's status in creating quality. The price is simply a transition mechanism as people become more comfortable to qualitative framework to value status.
Controversially, an example of how BUXB would work in the community is the intentional community mentioned and discussed in the end of Ayn Rand's book Atlas Shrugged. Entrepreneurs in her book get a bad rap but, as usual, we trust the messenger that delivers fear instead of logic. To say that entrepreneurs are bad because they are self-interested egoists is saying to love and improve yourself is bad.there should be no difference between an entrepreneur and a person. I must stipulate that saying an entrepreneur is an opportunist is incorrect. Whether we are people alone or together creating, the objectives of creating experience it's to empower the most people in the most stainboy possible to redundancy is the absolute objective to warrant any idea, and the work to do it, to be valued in its highest esteem.
It is plainly clear that her hero entrepreneurs create the best for the least price. all value the quality of their work, and the people that do it not just for but with them. They are not just the entrepreneurs but the politicians we would like to see. They respect everyone who respects themselves in being their best. This is priceless. It is only in that intentional community where they can negate the disempowerment of compromised social structures and usury currency for the greater good. In this intentional community, we can focus purely on what her hero entrepreneur is a truly like. They are mindful empowered selfish creators self aware enough to create their best for the greater good. Any bastardisation of that interpretation has been made rampant by the wannabes. Alan Greenspan, a frequent guest at Ayn Rand's social events, is the epitome of the second-handers she despises.
All her heroes are interested in education first, to offer the opportunity for everyone to be their best at what interests them. Hank Reardon makes the best alloy at the cheapest price than his competitors. Dagny runs the best railroad. Hiring a vehicle for $0.05 for the day. Who has the car is not important. All her hero entrepreneurs value creating the highest quality for the best price they can. All got their hands dirty being on the ground to experience the knowledge to be their best for those that will know better. In a commodity-driven world of wealth, there will always be the compromise between what to pay oneself vs the people under you doing the work. And the absolute genius to present how different this is in Ayn Rand's intentional community is the bank.
Midas turned everything into gold. In business, everyone he backed succeeded. When he leaves to join the intentional community, he balanced his books to zero. Rand's subjective in pointing this out is Midas left without owing or being owed anything. That in itself is an extraordinary feat in a usury world. Arguably, if that were truly possible, this could only happen in a currency with no cost. It would be interesting to analyse that. But in the microcosm of the intentional community, Midas is picking the best in a barrel. They're all good. They all want to be better. Interestingly, the means of exchange is in gold. This can bring up whether people a mining for gold for currency or as a resource. What's more important is that the main purpose of Midas in the intentional community is simply being the creator of the means of exchange. There is no possible need or means or requirement to add any cost to the currency in such a community. It would be absolutely pointless. His objective is to create enough velocity of exchange as required. It is just he would, but he can only, only, give money to those who are the best at perpetuating empowerment. No one else is living there. Further, it is not required to compete with whom may have a car to lend or not as there is no need to create more cars if none are really required. There will be enough business for everyone until more cars required; then the best most sustainable people will make it, customised on demand. No one in the community would be bothered to make them if they are not needed. The ultimate empowerment in such an intentional community is no one is owned by anybody else and doesn't do anything for anybody unless they want to. Consequently they all do their very best for self and all because there's no better option. That is what selfish really means.
Many say these ideas of economies will not work at scale but understand we are in economic models that create so much for nothing. There is so much waste that is not sold. That's not efficient or useful or sustainable or empowering for anybody. So what is created is dependent on the creativity also of the means of production but not for the sake of the economy, but the community. It is easy to create a Tesla production line that can be powered on demand if another vehicle is required and then turn it off again. Cars need not be bought but rented as needed. Any alternative to sharing resources is far more efficient than the waste usury currency economies create.
People will assume and say that such ideas can only work in small communities. but the whole global market is a series of small communities connected together. What matters more are how sustainably they connect for the greatest benefit of all that lived there. I'm not just talking about humanity. Any human would know that if they want to at least survive, they must respect the environment.
When a person says human nature or the human condition is inherently bad; when they say it cannot work at scale, they are only presenting the weakness in themselves.
And this brings up the alignment of ethics and excellence. If we go back to first principles, this sphere of .ethics is very much built around the game theory of the prisoner's dilemma: people are not to be trusted and there will always be compromise. There will always be compromise if solution is not possible but to mitigate that is not built on rights or privilege or social standing in themselves. It is built on excellence. That is the highest ethic. What do we create to empower people and the environment without compromise for the greater good without self-immolation? You do want to live, right? The idea of self immolation as many religions value as a way to relinquish the weakness of human capacity is the largest most init oxymoron of human identity I could possibly imagine.
The final book to establish the ultimate empowerment of excellence is Zen and the Art of Motorcycle Maintenance. This is, incredibly, a seriously underrated book. it overcomes the duality and weakness we are presented with over and over again in being human and presents a simple monoism without making it a religion or a deity to follow. What Robert Pirsig makes abundantly clear with his first hand experience teaching his classes in Bozeman, Montana, is quantifying results disempowers people to create excellence and leverage empowerment. It is only when he conceals the marks that he must give because of the system he lives in that the students do their best independent work. Quality may be compared but it has no price. When quality is based on creating empowerment, there is no price-to-value such status. There is no greater wealth. We tell stories about people who have overcome the system. But why do we enforce a disempowering system to overcome? Do you think we will have no story to tell past the point of fear?
Look at the work you are doing an ask yourself if it can attain the absolute of empowering the most people in the most sustainable way possible to redundancy. Ask yourself if you are attached to the object of the work you were doing as the status in itself, or it is truly a trajectory to reach that ultimate goal of self and community empowerment.
If your work is based on the mindset of believes that the bigger picture is full of bad people to overcome, if it is based on absolute scarcity, if it is based on the character for people to follow and not the idea itself that can be given freely to empower, then you're not being honest and it won't work and it isn't worth doing. Who is it that said doing the same thing the same way leads the same results? While you argue for empowerment and freedom on frameworks of weakness, this reinforces itself. If you really want to do something different, you must change the way you value yourself. It's got nothing to do with commodity currencies.
BUXB itself would become redundant in the same way that currency almost is in Ayn Rand's intentional community (ARIC?). Other pioneers believe completely moving forward past quantified exchange would be impossible. But it is certainly achievable. Look at Trekonomics. No one buys the Replicator. It replicates for free, on demand. Wealth is in the discovery of empowering all people to do the same.
We are not all heroes, but in BUXB, you are fully supported to be the creator you want to explore. A master does not hide his evolution of being. He welcomes your interest, but what you do with it is your opportunity to be your own master. Not in ritual, not in obedience, but in creating to empower the most people the best way you can. And if you prefer to follow the master, that's fine, too. However, the fear of fearing people for their objective in connecting with you is allayed in every transaction. There is no need to swindle anyone participating in the BUXB. that would be the equivalent of shooting yourself in the foot. Instead that could alienate you. more likely, he would would look at you strangely saying 'You can be paid to be educated. What on earth are you thinking?'
If you are absolutely dogmatic to want resolution to the object of renewable eenegy, climate change, overpopulation, modern monetary theory, steady state economies, degrowth, sustainability/regeneration, environmental/ecological/resource-based economics, discrimination, crime, slavery, famine, without looking at revaluing wealth on qualitative frameworks, then you are playing the object of being a changemaker, an activist, an icon for something better without actually changing anything. There's a long list of that. Another story to tell doing the same thing the same way and not getting any results. If you feel I have an attachment to 'BUXB', then you're looking at me, not the model. Wrong target. It is a tool for you, not against you. And it's free.
It has the means to achieve whatever empowered endgame you want. All I have done is change the currency model framework and revalue wealth for what it really is.
Not that complicated.
In this short time during the coronavirus, it's clear we can act fast globally if we want to. Let's try to do it with something empowering instead of disempowering as a means towards identity.
Frederick Malouf
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EWMCI Periodic Update 2020-05-01 [Full Version]

Dear EWMCI Followers,
Hope everyone is doing well and staying healthy!
Lots of exciting stuff in the crypto space, with probably the most important upcoming development being the halving of the Bitcoin reward. This event alone is likely to send ripples across the entire crypto community and most crypto markets (except perhaps the stablecoins). Basically, the supply of new Bitcoins will be cut in half, resulting in an instant negative supply shock. In addition to likely increases in Bitcoin price, the reduced reward amount may force some of the less profitable miners to cease mining, contributing to re-distribution of hashing power across other projects.
Here is some of the latest scoop on our three indices - Gold (large caps); Silver (mid caps); and Bronze (small caps):
Gold Index - This week set a new record of sorts. More specifically, we saw the 7th consecutive increase in weekly index value (that's over 2.5 months of continued weekly gains). There are probably many different factors responsible for this, but most likely the Bitcoin halving and the severely oversold crypto market (due to COVID-19) are likely the principal determinants of the current bullish trend. I would say that a correction at this point is probably, but primary (e.g., bullish) trend reversal is unlikely in the short term.
Silver Index - Similar to Gold Index, only better! Last week's performance (nearly 12% increase) was quite impressive and put the Silver Index within the striking distance of the all-time-high set back in February, 2020. Similar to the Gold Index, I do expect that there will be a bit of a pull-back in the near future, but the longer-term trend seems to be bullish at the moment.
Bronze Index - With a slight increase (1.6% this week) the Bronze Index inched a bit closer toward all-time high and is currently resting comfortable at a very strong support level around $83-85. From here, the most likely scenario will be a bit more consolidation and then a strong upward movement, especially with Bitcoin halving about to take place. Many of the smaller cap cryptocurrencies are denominated in Bitcoin, so they will naturally follow the corresponding trend.
New Developments - Big thanks to MCMpool.eu for facilitating two dedicated EWMCI pools - One for XVC and another for ZET. We encourage all EWMCI miners to embrace this great pool. In addition to providing a wonderful facility for mining, the custometechnical services are truly outstanding.
Our allied exchanges are doing a great job as well. Zapple.com is working on adding DGC and ZET to their current coin offering. Fides-ex.com continues to add new EWMCI core prijects, with NVC being the most recent addition - Thank you!
Magnum wallet is working great! With the addition of this first-class multi-wallet we are now able to focus on expanding use cases for the "Core 11" EWMCI projects!
Till next week!
S / EWMCI.info
Embrace DIY Crypto Index Investing - Your wallet, your keys, your funds, your decision, your control!
submitted by z-forum-guy to EWMCI [link] [comments]

WaykiChain CEO Gordon Gao: What is WaykiChain doing now?

WaykiChain CEO Gordon Gao: What is WaykiChain doing now?
https://preview.redd.it/i6sd5ax60ow41.jpg?width=1200&format=pjpg&auto=webp&s=8d4171bd4831ce2cfd6fa0bd9b598888d3a100cb
Recently, there have been many thoughts on the development direction of blockchain and WaykiChain. I have found some certainty in the world of uncertainty. How does WaykiChain understand the development of the public chain? What is WaykiChain development direction based on these understandings? What should the community expect and pay attention to? I will share with you the answers to these questions.
How does WICC increase prices?
WICC is the basic digital currency on the WaykiChain public chain. According to its white paper, when this coin was issued in the early period, more than 70% of the chips were in circulation in the secondary market This is a relatively high proportion, comparing to most of blockchain projects. This high circulation ratio is like a double-edged sword. The disadvantage is that foundation has relatively weak control over its value in the secondary market. It is also difficult to manipulate the price to create some false market value to deceive the public. The advantage is that WICC can have a wide range of coin holders and community members. Meanwhile, more coin holders mean that when WICC is found to have price increase expectations, such expectations will be spread by the population, which can result in a large-scale network effect. In 2018, WaykiChain relied on this network effect to make a big hit in the market. At that time, the number of WICC holders was about 100,000 (WICC holders in exchange).
However, the communities merely brought by price increase expectations are not sustainable. Those people came because of profit, and they will leave because of no profit. Those who made money or lost money on WaykiChain will scold after the currency price fell. In the bear market, it is almost difficult for people to have confidence in altcoins. It is difficult for people to invest in your long-term future with real money no matter what expectations they receive. Then, how to make WICC valuable in this bear market? We can conclude by the nature of price increases, which is fewer people selling and more people buying.
Staking economy is an effective way to achieve“few people selling”. This kind of gameplay is not widely used in the traditional field as it is in the crypto circle.
Most of Staking’s gameplay is to give you a dollar profit to make you unwilling to sell your 100 dollar coins. This approach may have a positive effect in the short term, but in the long term, it is no different from the Ponzi scheme. The other method is the DeFi. In DeFi, people need to collateralize their coins and get something that can bring value to them. For example, mortgage lending. When you are unwilling to sell your coins and lack money, the CDP mortgage lending system can meet your needs. At this time, the WICC in your hand becomes a “ticket” to participate in the CDP mortgage lending system. The collateralization generated by this real demand is often solid because such users are less likely to quit fast. Because they benefit from WaykiChain and believe this kind of service will generate value, so it is not a zero-sum game. In the end, most of the people here are winners, so they cherish their chips.
Once there are more users, there should be more reasons for them to buy more continuously. The reason for most people who buy token is nothing more than to see some good news which can be predicted. Halving is predicted, so there was a decent run at the start of the year. The World Cup was also a prediction and it is a piece of good news for betting-related blockchain. This prediction of a high degree of certainty in time can prompt a frenzied influx. But other than this quadrennial prediction(Halving or World Cup) of events, what expectations do you have for the community?
The first is the technical aspect. A good technical public chain can attract more developers, and more developers can build more business models and have more imagination.
To realize the expectation of the business model, users should value the future business growth of your current track and the most direct promotion of the economic model after the growth. For example, the growth of the mortgage lending business. The total collateral of WICC gets bigger ->Less liquidated WICC ->WICC’ s unit price raises with the demand stays the same. Or growth in mortgage lending->WGRT destruction becomes more numerous->WGRT’s unit price raises. This business model creates a rigid value in a currency.
Finally, there comes the marketing ability, the user toned to trust that you are able to attract more investors at some point in the future. All financial activities generate bubbles, and how big an asset you end up with depends both on how much beer you have and how much bubble you can pour. If building business value is about brewing, marketing, and storytelling, it’s about pouring beer out of the bubble.
About liquidity
When it comes to liquidity, some people’s understanding of liquidity of a coin is to be listed on more exchanges, some people know a bit about some financial markets, so they say liquidity is the depth of the order book. I recently get some inspirations from David in Coinbase. Liquidity can be measured by the time you spend to convert an asset to purchase power.
Cash is with the best liquidity, as it is almost equal to purchasing power. Property is less liquid because there are very few situations where you buy something directly from the house. Usually, you will have to turn it into cash and buy something else. So there’s a long period between when you decide to sell the house and when you get the money, and the longer that period is, the less liquid it is. USDT is relatively liquid because OTC transactions, which is a mature market in the current situation, allow people to convert the USDT into fiat money in minutes.
Note that the above mentioned is to turn assets into purchasing power, rather than cash out. These two are essentially different. For example, if I want to purchase some service from a crypto media, I often use Eth, BTC, USDT, not cash. So I don’t need to sell off my digital currency to exchange cash, but directly pay it, which becomes purchasing power. From this perspective, any merchant accepting digital currency payments is enhancing the liquidity of the digital currency. Because he shortens the time it takes for assets to become purchasing power.
As I said before, the keyword of the Internet fights is traffic, and the keyword of digital currency is liquidity. Much of what WICC does is to increase liquidity. Listing on Exchange shortens the time for WICC to transform into the purchasing power of other digital currencies. In real application scenarios, many people are reluctant to undertake the risk of digital currency fluctuations. They only like to denominate in fiat currency, so WUSD (stablecoin) that is generated by collateralizing WICC has better potential than WICC to become purchasing power. Huatong Security accepts WUSD as a payment method to buy HK/US Pre-IPO stocks shortens the time when some people want to convert WUSD into the purchasing power of Hong Kong and US stocks (In the normal process, this user must first sell, exchange fiat currency, and then open an account to buy Hong Kong and US stocks). The new project WaykiX shortens the time required to transform WICC into the purchasing power of investing in various assets around the world.
Bitcoin’s technology has not been greatly updated since its inception, but its value remains the leader because of its liquidity. Similarly, in my opinion, the market value of USDT has soared because liquidity is becoming more and more mature. WaykiChain’s future development is also inseparable from liquidity.
About Defi
As mentioned above, liquidity is important. If you want to improve liquidity, you can cash out first and use cash to purchase most of things you want. However cash out itself is not what a project expects, because it will dump the price when a lot of people doing that. Therefore, collateralizing assets, generating stablecoins, and then enabling stablecoins to generate purchasing power has become a perfect model, which is the essence of WaykiChain 3-Token Economy Model.
Regarding purchasing power, first we need to know what users want to buy. Many public chain projects, including WaykiChain, have begun to explore what kind of products and services that users want to buy. For example, betting products, value-added game services, or even e-commerce. All of these end up with nearly no results. As speculators’ paradise, the cryptocurrency circle usually care about borrowing money to make money. So, there is nothing more interesting for them than lending and making money. These people may not have the need to play games or buy things, but they must have the demand to make money. Therefore, finance must be the right direction for blockchain projects. WaykiChain will all in DeFi for at least the next two years.
Many people say that WUSD is a stablecoin, so it needs to be compared with USDT. Rather than emphasize WUSD itself, I would rather like to say that WaykiChain ’s CDP is a lending system and service, and WUSD is just a stable value certificate. I am more concerned about the capacity of the CDP lending business itself, and whether it can provide users with the value of lending. As for when WUSD can become a freely circulating currency, it will take a long time to see how much purchasing power is endowed. Maybe at first, WUSD could buy WICC, WGRT, then the index of various global assets, then other digital currencies, then some Hong Kong stocks and US stocks, and finally maybe you can buy two packs of snacks with WUSD downstairs.
Simple preview of the new product WaykiX, users can trade all kinds of global assets, including digital currencies, indices, stocks, commodity futures, and even contracts. We have high expectations for this product because we feel it can meet the “purchase” needs of most existing community users. This product learns from the Synthetix project and adds some local elements of WaykiChain, including the technical security reinforcement, as well as the improvement of the economic model and the risk resistance level.
Someone asked, Ethereum has a complete DeFi ecosystem, and there are countless projects to start a business together. Why does WaykiChain have the power to fight with Ether? I would like to share a few points. The DeFi of Ethereum is aimed at users of Ethereum. We are currently targeting WaykiChain users. There is no conflict at present. In addition, DeFi seems to have a variety of patterns. It is nothing more than the four major categories of deposits, loans, liquidity, and derivatives. Our current developer community is not as prosperous as Ethereum, so WaykiChain uses a point-to-face model to first construct the core and head of DeFi to ensure quality and safety. When it can form a minimum closed-loop, and then let developers support those long-tail applications. Although it is a bit contrary to the concept of decentralization, we believe that this is an indispensable process for the implementation of the blockchain public chain。
About community
I mentioned three directions in the first chapter on how to create the value of WaykiChain, the first is technology, the second is business model and applications, and the third is the marketing model and bubble.
In fact, a healthy blockchain community is also attracted by these three parts of value, a core developer community, some coin holders with business needs, and a group of speculation or investors. To achieve the top five public chains in the world, these three groups must be huge.
WaykiChain attracts the core developer community through the leading technology mechanism and the friendliness of public chain development. This is the reason why WaykiChain has invested a lot of resources in the technical level of the public chain.
WaykiChain continues to create value for currency holders to meet their needs through the DeFi business.
And eye-catching marketing methods to attract investors and speculators when market conditions improve and new market capital are sufficient.
The bull market is short while the bear market is long. In the bear market, WaykiChain needs to continue to play at the table in a way with a high winning rate. These are my personal opinions. Welcome to discuss more with me.
submitted by Waykichain to WICCProject [link] [comments]

Introducing COINQVEST, Enterprise Cryptocurrency Payment Processing on Stellar. Accept Digital Currencies, Settle in USD, EUR, NGN.

COINQVEST provides digital currency checkouts that automatically go from Bitcoin to your bank account, in minutes. It helps you programmatically accept and settle payments in new digital currencies while staying compliant, keeping your accountants and tax authorities happy. With COINQVEST, sales can be denominated and settled in your local fiat currency (e.g. EUR, USD or NGN) regardless of whether your customers pay in Bitcoin, Ether or Stellar Lumens.
COINQVEST’s mission is to lower the payment barrier for the world’s merchants to join the global economy through simple digital payment processing. We process sales safely and efficiently for online merchants of all sizes and origins. Think of it as Stripe for crypto.

The COINQVEST platform provides the following key features:

Benefits of COINQVEST for the Stellar Network

How COINQVEST uses Stellar:

Links:

Feedback:

For more details, team members, API docs, please visit www.coinqvest.com
And, of course, we’d love to hear your feedback! Leave a comment below and connect with us on our public Keybase channel @coinqvest.public or chat directly with @marcinx or @xiaohu

Stellar Community Fund:

If you like this product, please consider voting for us in the Stellar Community Fund.
submitted by enqvistx to Stellar [link] [comments]

Bylls — the Canadian Bitcoin bill payment service by Bull Bitcoin — celebrates its 6th birthday

I sometimes find it hard to believe that it has already been 6 years since the public launch of Bylls on January 13 2014. What started out as a simple and humble “garage startup”, the world’s first Bitcoin bill payment service, evolved into so much more.
Bylls eventually became the company that people know today as Bull Bitcoin, and it is from Bylls’ UASF advocacy that sprouted the Cyphernode open-source project. I also like to think of Bylls as a “bitcoin culture” institution that served as the vanguard of the Bitcoin Maximalist and Cypherpunk movements within the Bitcoin exchange and payments industry.
Happy Birthday Bylls! 🎂

What is Bylls?

For those of you who don’t know about Bylls, here’s a short summary:

Short history of world’s first Bitcoin bill payment service

Bylls was founded in 2013 by Eric Spano, a Montreal entrepreneur part of the original Bitcoin Embassy team. Eric, one of my earliest and most influential mentors, is a true Bitcoin OG. Check out his 2014 Bitcoin Ted Talk or his 2019 Podcast on Tales From the Crypt which describes in great detail the inception of Bylls.
When Bylls was launched, I was Public Affairs Director at the Bitcoin Embassy, the world’s first physical Bitcoin hub (a 14,000 square feet building downtown Montreal). Bylls was effectively a one-man operation, with Eric doing pretty much everything himself. I wasn’t directly involved with the company, but Bylls was one of the startups in the Embassy’s incubator program, so I was helping out in various ways. My first “public appearance” in the Bitcoin industry was actually to man the Bylls booth at the Toronto Bitcoin Expo in 2014!
In 2015, Eric was offered a huge career opportunity that he couldn’t accept without stepping down from running Bylls. It was to me an inconceivable tragedy for Bitcoin to let Bylls quitely close down. For the past 2 years, whenever somebody asked me “what can you do with Bitcoin?”, I would always reply “well, for starters, you can pay all your bills in Canada, even your taxes and your credit card”. What was I going to say now?
I had just founded my company Satoshi Portal Inc. with the aim of developing a non-custodial Bitcoin exchange (which eventually became Bull Bitcoin). And so, I acquired Bylls from Eric and it immediately became the focus of all my energy. For the first year, our team consisted of only 2 people including our lead developer Arthur which is still working on Bylls features to this day. From the beginning until today, we are still 100% self-funded. We grew organically and slowly. My philosophy on entrepreneurship and startup scaling is articulated in this medium post.It has been an incredibly intense journey. I cannot think of a more challenging professional experience than being a startup founder and entrepreneur in the Bitcoin industry. The number of Bitcoin startups that have perished since is a stark reminder. Some of them sank quietly, but many went down in flames taking down their users with them. The fact that Bylls is still standing — without VC funding and with its reputation intact — is my proudest achievement.
Over the past 4 years. we completely redesigned the software, continuously adding new features, but the core of the service remained the same. Most importantly, we added the ability for users to pay any individual or business in Canada by creating a personal biller from their bank details. Previously, they were limited to Bylls’ biller list of around 9000 billers.
One of the defining moments in the history of Bylls was UASF. Bylls was one of the first Bitcoin companies to support BIP-148 for the activation of Segwit (second after Bitconic). Not only that, but we were the first to run a public BIP-148 block explorer and public UASF electrum server. We had done a “seppuku pledge” regarding BIP-148, meaning that we would only accept coins from the UASF segwit chain and would pay the Bitcoin market price for them. If UASF had failed, we would not have survived. This cemented our ideology of “skin-in-the-game”. We would never compromise on our values, no matter the cost. Our policy on forks (2017) was described here. But the jist of it is:
Satoshi Portal is a Bitcoin-only company and does not conduct any transaction in any altcoin, including altcoins that are the result of a fork of the Bitcoin blockchain and which can be spent with Bitcoin private keys. This includes, but is not limited to, the coins commonly referred to as BCash, Segwit2X, BGold, Clams and Lumens.We strongly oppose the “New York Agreement” and will under no circumstance ever recognize the Segwit2X blockchain (and BTC1 client) as Bitcoin, regardless of market response or hashing power. In the unlikely event that an overwhelming majority of the Bitcoin ecosystem migrates to the Segwit2X blockchain, Satoshi Portal will continue nevertheless to support the Bitcoin blockchain.
Following the UASF/NO2X “war” in 2017, we devoted a large prortion of ressources to building Cyphernode, an open-source project that makes it very easy for startups to build and deploy Bitcoin applies without any third-parties, using exclusively their own full nodes. We are still developing this project today and plan on actively maintaining it in the future.
It is also worth noting that Bylls has never accepted any altcoins and was one of the first company to pledge never to accept altcoins in the future, leading to what became the “Bitcoin-Only” movement. We were also the first Bitcoin exchange and payment processing company, to our knowledge, that has integrated coinjoin as part of its processes.

Unbanking yourself with Bylls

The coolest feature of Bylls is that you can pay pretty much all your expenses with Bitcoin without needing to go through a bank account. In Canada, you can obtain a credit card without having it linked to a bank account. In 2016, the last of my personal bank accounts was closed due to my activities in the Bitcoin industry. I decided not apply at another bank and try the experiment of living completely unbanked. I’m happy to report it was a success, and serves as a powerful testament for the use-cases provided by Bylls.
I really like the idea of not owning any fiat. You can pay pretty much all daily expenses with a credit card, and pay back the debt with Bitcoin. Of course you have fiat-denominated debts which conveniently tends to diminish in price over time.
You can withdraw cash from a credit card and pay it off instantly with Bylls, so you can get access to cash at any time, in any country across the world, without having a bank account. The only inconvenience is the cash advance fee.
When you have to pay larger amounts such as rent or whatever services don’t accept cash or credit card, you can find the biller in the Bylls list or ask the recipient for his banking details, the same as you would for a wire transfer.

The future of Bylls

Many people ask us if we intend to expand outside of Canada. The answer is, unequivocally, no. We will always be a Canada-only, Bitcoin-only company. That doesn’t mean that we stop working hard to improve our services. We will continue to be the first to integrate the cutting-edge Bitcoin technologies that
Here is are some of the features you can expect in 2020:
Thanks for reading! 🎂
Yours truly,
Francis
Original post here: https://medium.com/bull-bitcoin/bylls-the-canadian-bitcoin-bill-payment-service-by-bull-bitcoin-celebrates-its-6th-birthday-ef6d22acdf2a
submitted by FrancisPouliot to BitcoinCA [link] [comments]

BITCOIN going down? Where is the support? Bitcoin Breakdown, mBTC, uBTC, Satoshi & bit denominations  Ep 6 - BitcoinNe.ws BITCOIN HAS TRIGGERED TWO OF THREE BULL MARKET SIGNALS! - HUGE MOVE INCOMING ON BITCOIN?? Redenomination All About Ethereum - Denomination Names

Bitcoin trades at a value of multiple thousands of dollars per bitcoin. As most transactions are far smaller, a handful of metric-based bitcoin denominations are commonly used when referencing fractional amounts of the cryptocurrency. The denominations most commonly used are listed below with their value in bitcoin (BTC). Abbreviated as BATM, a Bitcoin ATM is an automatic teller machine which allows an individual to buy bitcoins. Bitcoin ATM kiosks are exchange platforms which provide a medium for converting cash bills into electronic form. Bitcoin ATM kiosks are connected to the internet and allow people to insert cash or credit cards in exchange for Bitcoins. The site accepts Bitcoin, Bitcoin Cash, Ethereum, and Litecoin as payment for a 4Chan pass. Mega.nz A cloud storage and file hosting service launched on January 19, 2013, by Kim Dotcom , who had previously founded Megaupload. Contents1 Bitcoin is a bubble or new technology? 2 bitcoin denominations today. 3 Do you believe in Bitcoin? It is unequivocal that bitcoin denominations is gaining popularity. And this popularity is changing with varying success. Bitcoin is a bubble or new technology? The world has split into two camps. Some consider bitcoin – a new […] Titan Bitcoin is going after the premium market with the priciest Titan One Gold coin priced at $2,279, but then again it contains 1 troy ounce of 24-karat gold and one bitcoin.The Titan One

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BITCOIN going down? Where is the support?

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. In this video we talk about how bitcoin breaks down and what the sub denominations are called. Bitcoin Breakdown, mBits, uBits, bits denominations Ep 6 - BitcoinNe.ws. Category In this episode, we will look into the downwards movement of bitcoin that we were expecting from the previous week and analyse different scenarios where the price can find the support level for ... Get an additional $10 in Bitcoins from Coinbase when purchasing through my referral link http://fredyen.com/get/Bitcoins Here is a quick beginner's guide on ... Wei, Shannon, Finney, etc. Today I am talking about the names for Ether denominations. Support me via the links below. If you liked this video please help support the creation of more. Bitcoin ...

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