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You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
Transcript of Open Developer Meeting In Discord - 5/10/2019
[Dev-Happy] Blondfrogs05/10/2019 Channel should be open now Chill05/10/2019 you all rock! just getting that out of the way :wink: Tron05/10/2019 Cheers everyone. theking05/10/2019 Hi fabulous dev team! Hans_Schmidt05/10/2019 Howdy! Tron05/10/2019 No specific agenda today. Questions? Has everyone seen Zelcore wallet, and Spend app? theDopeMedic05/10/2019 Any major development status updates that haven't been listed in #news? Synicide05/10/2019 How was the meetup yesterday? I heard it would be recorded, it is uploaded anywhere yet? Tron05/10/2019 And Trezor support on Mango Farm assets? @Synicide Yes it was recorded. The Bitcoin meetup organizer has the video. I talked about Ravencoin, but mostly about the stuff that was being built on/with/for Ravencoin. There was about 70% overlap with folks who were at the Ravencoin meetup in March. Synicide05/10/2019 awesome, looking forward to watching it when it's available Tron05/10/2019 I'll hit up James and see if he's posting the video. S1LVA | GetRavencoin.org05/10/2019 @theDopeMedic I'd follow github if youre interested in development status Synicide05/10/2019 zelcore looks super slick. Been meaning to research its security more with the username/pw being stored on device Chill05/10/2019 How is the progress on the restricted assets and testnet coming along? A secondary question would be about the approximate fork timeframe. S1LVA | GetRavencoin.org05/10/2019 Has anyone heard from the community dev (BW) working on Dividends? Rikki RATTOE Sr. SEC Impresantor05/10/2019 Any word on BW and his progress w dividends? @S1LVA | GetRavencoin.org LOL Tron05/10/2019 @S1LVA | GetRavencoin.org Great question. I haven't heard. Synicide05/10/2019 last meeting BlondFrogs said he would try to connect with BW as he was sick with the flu at the time. Maybe he has an update S1LVA | GetRavencoin.org05/10/2019 I've tried to get in contact, but with no success. Rikki RATTOE Sr. SEC Impresantor05/10/2019 Got a funny feeling... Jeroz05/10/2019 Last time we left off with someone mentioning a foundation and Tron saying let’s discuss that next time iirc kryptoshi05/10/2019 Has anyone taken a look at the merits for this proposal? Thoughts? https://medium.com/systems-nexus/modified-x16r-algorithm-proposal-for-constant-hash-rate-in-short-time-164711dd9044 Medium Modified X16R algorithm proposal for constant hash rate in short time Interpretation Lens V. a0.01 Tron05/10/2019 I did see it. Does anyone think this is a problem? Synicide05/10/2019 It looks interesting... but I'm not sure what it is trying to solve. Looking at netstats, our 1 hour average block time is perfectly 1 minute S1LVA | GetRavencoin.org05/10/2019 Last I heard from him he expressed how important finishing the code was. I wouldnt jump to conclusions on his absence within the community. Synicide05/10/2019 x16r by nature will fluctuate, but DGW seems to be doing a good job keeping consistent block times Tron05/10/2019 Because of relatively broad distribution across the algorithms, the block times are fairly consistent. It is possible, but very, very unlikely to get a sequence that takes up to 4x longer, but that's super rare, and only 4 minutes. We did some timing analysis of the algorithms early on. A few are 1/2 as long as SHA-256 and some are up to 4x longer. But when you randomly select 16 it usually comes out about even. Synicide05/10/2019 1hr avg: 1.02min - 24hr avg: 1min I think we should focus on building, and not trying to fix what isnt necessarily broken Tron05/10/2019 Agreed. Rikki RATTOE Sr. SEC Impresantor05/10/2019 Agreed Tron05/10/2019 Is everyone ok with the frequency (every other week) of this discussion? Jeroz05/10/2019 (Added thumbs down to measure) Tron05/10/2019 @Jeroz Did you do thumbs-up and thumbs down? S1LVA | GetRavencoin.org05/10/2019 Seems appropriate. Its not like the devs dont poke around here and chat anyways. Tron05/10/2019 Anything critical that we should be aware of? Jeroz05/10/2019 When I need a dev, I poke a dev. When that dev is unavailable. I poke another one :smiley: Hans_Schmidt05/10/2019 BlondFrogs was testing some github code last month to create a dividends snapshot database of asset holders at a given blockheight. Is that planned for inclusion? That's the only thing needed for dividends. Jeroz05/10/2019 I hope I didn’t offend any devs With poking around Rikki RATTOE Sr. SEC Impresantor05/10/2019 Was thinking voting would be an excellent use case for restricted assets. Local communities, nations, etc... could kyc their residents radiodub05/10/2019 Is x16r will remain fpga mineable Tron05/10/2019 @Jeroz We're hard to offend. Chill05/10/2019 Is the general dev feeling that the next fork should and will include everything needed for the next 6-9 months (barring something completely unforeseen)? Jeroz05/10/2019 I know :smile: Tron05/10/2019 @radiodub Nearly impossible to stop FPGAs and still keep GPUs Jeroz05/10/2019 About that: voting is another hard fork right? Not too soon? Tron05/10/2019 FPGAs can be reprogrammed as fast. It is silicon (true ASIC) that we can obsolete with a tiny change. @Jeroz Messaging, voting, Tags, Restricted Assets would require a hard fork (upgrade). We could do them each individually, but folks get weary of upgrades, so current plan is to roll them together into one. MrFanelli™05/10/2019 Good idea Jeroz05/10/2019 Oh voting too? MrFanelli™05/10/2019 People will like that Jeroz05/10/2019 I thought that was coming later Tron05/10/2019 Voting is the one that isn't being worked on now. Tags and Restricted assets have taken precedence. Jeroz05/10/2019 I know. But you plan on waiting to fork until voting is also done? That would have my preference tbh But I can see an issue with too many things at the same time Tron05/10/2019 If someone wants to step in, we've had one of our devs sidelined and he was working on BlockBook support so more light wallets can connect to Ravencoin. Mostly test cases needed at this point. S1LVA | GetRavencoin.org05/10/2019 Thats a pretty large upgrade.. Bigger surface for unknowns Rikki RATTOE Sr. SEC Impresantor05/10/2019 At what point would RVN community consider moving to ASICs because having a Bitcoin level of security would eventually be needed? MrFanelli™05/10/2019 Never rikki Tron05/10/2019 @S1LVA | GetRavencoin.org 100% Lots of testing on testnet and bounties. [Dev-Happy] Blondfrogs05/10/2019 I am here :smiley: Tron05/10/2019 @Rikki RATTOE Sr. SEC Impresantor There's nothing inherently wrong with ASICs but it tends to centralize to data centers and less opportunity for anyone to just run their gaming rig overnight and collect RVN. Welcome Blondfrogs MrFanelli™05/10/2019 Asics are too expensive. If we want normal people to mine, then we cant be an asic network Rikki RATTOE Sr. SEC Impresantor05/10/2019 @Tron True but what happens when the chain needs a Bitcoin level of protection? Tron05/10/2019 More GPUs, more FPGAs MrFanelli™05/10/2019 Nvidia loves ravencoin :stuck_out_tongue: Chill05/10/2019 ok, so we are pro FPGAs 𝕿𝖍𝖊 𝕯𝖔𝖓 𝕳𝖆𝖗𝖎𝖘𝖙𝖔 CEO ∞05/10/2019 Build it and they will come Tron05/10/2019 It's all relative. It is cost to attack. If an ASIC isn't available for rent, then only option is rental of non-allocated GPUs Rikki RATTOE Sr. SEC Impresantor05/10/2019 @Chill Eventually everyone will need FPGAs to be profitable on RVN, at that point I don't see why we just don't make the switch to ASICs Tron05/10/2019 Also, as much as we don't focus on price, the price does matter because it determines the amount of electricity and hardware will be deployed to get the block reward. Price increase means more security, more mining means more security means higher price. It's a circle. Chill05/10/2019 someone tell that to the twitter handler HailKira05/10/2019 you guys adding seedphrase to desktop wallet? [Dev-Happy] Blondfrogs05/10/2019 @HailKira We will, just is not a high priority right now. MrFanelli™05/10/2019 Twitter handle wants rvn ded Rikki RATTOE Sr. SEC Impresantor05/10/2019 I just don't see much difference between ASIC and FPGA and I'd rather have the added nethash an ASIC will provide once GPUs are virtually kicked off the network kryptoshi05/10/2019 I'm at 11 GB future proof Tron05/10/2019 That also limits miners to big money, not gaming rigs. Synicide05/10/2019 @Rikki RATTOE Sr. SEC Impresantor you have to keep in mind the 'added nethash' is all relative Rikki RATTOE Sr. SEC Impresantor05/10/2019 FPGAs will limit miners to big $$$ too IMO Tron05/10/2019 @kryptoshi New algo x16r-12G requires 12GB :frowning: Seal <:cricat:> Clubber05/10/2019 But sperating smaller gb cards would lead to less adoption if we ever become a mainstream coin. Adpotion of mining that is Chill05/10/2019 but we are a mainstream coin Seal <:cricat:> Clubber05/10/2019 Mains stream as in what eth did Tron05/10/2019 @Rikki RATTOE Sr. SEC Impresantor I agree. Not a perfect solution. Steelers05/10/2019 Is this a Dev meeting or Algo meeting :smiley: Seal <:cricat:> Clubber05/10/2019 But if we ever go mem lane. We should aim for 6 or 8gb. Tron05/10/2019 Open to other questions. Rikki RATTOE Sr. SEC Impresantor05/10/2019 @Tron Probably not the time and the place to have this discussion as we stand currently but IMO we're gonna have this conversation for real eventually Seal <:cricat:> Clubber05/10/2019 Most cards have 6gb now. kryptoshi05/10/2019 Why 12 gb ? Such a massive jump Seal <:cricat:> Clubber05/10/2019 ^ Would also like to know Tron05/10/2019 @kryptoshi I was joking. You said you had 11GB card. Seal <:cricat:> Clubber05/10/2019 Haha You got em good I cant imaghine the face he had when he was 1gb short Lel Rikki RATTOE Sr. SEC Impresantor05/10/2019 That's what she said kryptoshi05/10/2019 Hahaha MrFanelli™05/10/2019 need a 2080ti Seal <:cricat:> Clubber05/10/2019 How much does the VII have? 16? [Dev-Happy] Blondfrogs05/10/2019 Any other questions you have for us? Hans_Schmidt05/10/2019 @[Dev-Happy] Blondfrogs You were testing some github code last month to create a dividends snapshot database of asset holders at a given blockheight. Is that planned for inclusion? That's the only thing needed for dividends. Chill05/10/2019 a dev might want to contact Crypto Chico for some 'splaining [Dev-Happy] Blondfrogs05/10/2019 I still haven't contacted the developer that was working on dividends. Was pretty busy with some other stuff. I will contact him this next week, and see where we are at for that. Rikki RATTOE Sr. SEC Impresantor05/10/2019 Chico doesn't do interviews, shame. Tron would be a much needed interview for his community [Dev-Happy] Blondfrogs05/10/2019 As far as releasing dividends, I can be released at anytime the code is finished and doesn't require any voting or hardfork to occur kryptoshi05/10/2019 Android asset aware wallet? Seal <:cricat:> Clubber05/10/2019 Is in beta right Tron05/10/2019 Testing went well today on Android. Nearing release. [Dev-Happy] Blondfrogs05/10/2019 as it is a mechanism that is wallet specific liqdmetal05/10/2019 no protocol level dividends you guys are saying? [Dev-Happy] Blondfrogs05/10/2019 correct Tron05/10/2019 DM me if you want to test Android with Asset support. I'll send you the .APK. Rikki RATTOE Sr. SEC Impresantor05/10/2019 RVN gonna be on tZero wallet? :yum: liqdmetal05/10/2019 why not? what is the logic on non-protocol dividends assets + protocol dividends is nirvana [Dev-Happy] Blondfrogs05/10/2019 dividends is pretty much sending payments to addresses. Right now, you would have to do this manually. The dividends code, will allow this to be done quicker and easier. No consensus changes are required. Tron05/10/2019 New Android wallet is BIP44 and original Android wallet is BIP32/BIP39 so the words will not find the funds. You'll need to send them to another wallet, and then send them to new BIP44 derived address. liqdmetal05/10/2019 we already have payments to addresses so dividends is not a feature so much as simple wallet script Hans_Schmidt05/10/2019 @[Dev-Happy] Blondfrogs The dividend code changes look risky'er to me than messaging. Would you consider "tags" branch test-ready? [Dev-Happy] Blondfrogs05/10/2019 Not yet @Hans_Schmidt Dividends is easier then you would think if coded correctly. I still haven't seen the code from the community developer. Excited to view it though. Hans_Schmidt05/10/2019 @[Dev-Happy] Blondfrogs Sorry- I meant restricted, not dividend kryptoshi05/10/2019 @Tron on the Android wallet, anyone successfully added their own node and got it to sync faster? Always have issues. I have a supped up node and cannot get it to work with the Android wallet... [Dev-Happy] Blondfrogs05/10/2019 @Hans_Schmidt Oh, that makes more sense. Yes, they are very risky! That is why we are going to create a new bug bounty program for restricted assets testing. Rikki RATTOE Sr. SEC Impresantor05/10/2019 Once the network does get flooded w FPGAs, should we even consider changing the algo a couple times a year? That would only give bitstream developers added time to hoard their creations for themselves Kind of like they're already doing with their x16r bitstreams :yum: kryptoshi05/10/2019 Flooded... lol... like that hardware has mass production scale like gpus...come on dude MrFanelli™05/10/2019 Bip44 wallet? :smiley: Rikki RATTOE Sr. SEC Impresantor05/10/2019 @kryptoshi Eventually yes, where there's $$$ to be made, people make things happen MrFanelli™05/10/2019 So can we trade from that in the new Binance Dex when RVN get listed? kryptoshi05/10/2019 @Rikki RATTOE Sr. SEC Impresantor Yes Soon TM lol. :soontm: Tron05/10/2019 @kryptoshi There are some things we can do to speed it up. For a new wallet, it shouldn't need to sync. For recovered wallet, it needs to sync from beginning of BIP44 wallet support on iOS so words can be moved between the two. Other options include grabbing the first derived address and looking it up on an explorer to see when it was first used and sync from there. Another option is to add an optional number with the 12 words so it knows when to start syncing. There isn't a good reason on an SPV wallet to sync before the seed was created. kryptoshi05/10/2019 Cool. Glad you are looking at speedup options.. :right_facing_fist: :left_facing_fist: [Dev-Happy] Blondfrogs05/10/2019 @MrFanelli™ If the binance dex support RVN deposits. I am sure you would be able to send from it MrFanelli™05/10/2019 Has binance reached out for any info or anything? I seen that we ranked in some voting competition they had on twitter for an ama Rikki RATTOE Sr. SEC Impresantor05/10/2019 I believe we'll need to create a fund of approximately $300,000 in order to get a BNB-RVN asset created and listed on the Binance FDEX [Dev-Happy] Blondfrogs05/10/2019 In order to work with binance we need Ravencoin integrated into Blockbook. Tron05/10/2019 @MrFanelli™ I've reached back out to Binance on the AMA. MrFanelli™05/10/2019 Awesome :smile: kryptoshi05/10/2019 @Tron you are a natural on the interviews... cool as a cucumber. :sunglasses: Tron05/10/2019 Thanks @kryptoshi [Dev-Happy] Blondfrogs05/10/2019 Cool. We are done for today. Please don't ask us any more questions :smiley: Tron05/10/2019 Thanks everyone!!!! [Dev-Happy] Blondfrogs05/10/2019 Cya everyone!! S1LVA | GetRavencoin.org05/10/2019 Cya happy feet, Thanks Thanks Tron Seal <:cricat:> Clubber05/10/2019 :bepbep:
The biggest announcement of the month was the new kind of decentralized exchange proposed by @jy-p of Company 0. The Community Discussions section considers the stakeholders' response. dcrd: Peer management and connectivity improvements. Some work for improved sighash algo. A new optimization that gives 3-4x faster serving of headers, which is great for SPV. This was another step towards multipeer parallel downloads – check this issue for a clear overview of progress and planned work for next months (and some engineering delight). As usual, codebase cleanup, improvements to error handling, test infrastructure and test coverage. Decrediton: work towards watching only wallets, lots of bugfixes and visual design improvements. Preliminary work to integrate SPV has begun. Politeia is live on testnet! Useful links: announcement, introduction, command line voting example, example proposal with some votes, mini-guide how to compose a proposal. Trezor: Decred appeared in the firmware update and on Trezor website, currently for testnet only. Next steps are mainnet support and integration in wallets. For the progress of Decrediton support you can track this meta issue. dcrdata: Continued work on Insight API support, see this meta issue for progress overview. It is important for integrations due to its popularity. Ongoing work to add charts. A big database change to improve sorting on the Address page was merged and bumped version to 3.0. Work to visualize agenda voting continues. Ticket splitting: 11-way ticket split from last month has voted (transaction). Ethereum support in atomicswap is progressing and welcomes more eyeballs. decred.org: revamped Press page with dozens of added articles, and a shiny new Roadmap page. decredinfo.com: a new Decred dashboard by lte13. Reddit announcement here. Dev activity stats for June: 245 active PRs, 184 master commits, 25,973 added and 13,575 deleted lines spread across 8 repositories. Contributions came from 2 to 10 developers per repository. (chart)
Hashrate: growth continues, the month started at 15 and ended at 44 PH/s with some wild 30% swings on the way. The peak was 53.9 PH/s. F2Pool was the leader varying between 36% and 59% hashrate, followed by coinmine.pl holding between 18% and 29%. In response to concerns about its hashrate share, F2Pool made a statement that they will consider measures like rising the fees to prevent growing to 51%. Staking: 30-day average ticket price is 94.7 DCR (+3.4). The price was steadily rising from 90.7 to 95.8 peaking at 98.1. Locked DCR grew from 3.68 to 3.81 million DCR, the highest value was 3.83 million corresponding to 47.87% of supply (+0.7% from previous peak). Nodes: there are 240 public listening and 115 normal nodes per dcred.eu. Version distribution: 57% on v1.2.0 (+12%), 25% on v1.1.2 (-13%), 14% on v1.1.0 (-1%). Note: the reported count of non-listening nodes has dropped significantly due to data reset at decred.eu. It will take some time before the crawler collects more data. On top of that, there is no way to exactly count non-listening nodes. To illustrate, an alternative data source, charts.dcr.farm showed 690 reachable nodes on Jul 1. Extraordinary event: 247361 and 247362 were two nearly full blocks. Normally blocks are 10-20 KiB, but these blocks were 374 KiB (max is 384 KiB).
Update from Obelisk: shipping is expected in first half of July and there is non-zero chance to meet hashrate target. Another Chinese ASIC spotted on the web: Flying Fish D18 with 340 GH/s at 180 W costing 2,200 CNY (~340 USD). (asicok.com – translated, also on asicminervalue) dcrASIC team posted a farewell letter. Despite having an awesome 16 nm chip design, they decided to stop the project citing the saturated mining ecosystem and low profitability for their potential customers.
Changenow announced the option to buy DCR with fiat.
TokenPride: "We are seeking feedback on the general setup of our payment processor. We have tried to make it simple and user friendly. 10% of all purchases made in Decred will be donated to the Decred Development fund - and we will be releasing original Decred designs in the future".
BlueYard Capital announced investment in Decred and the intent to be long term supporters and to actively participate in the network's governance. In an overview post they stressed core values of the project:
There are a few other remarkable characteristics that are a testament to the DNA of the team behind Decred: there was no sale of DCR to investors, no venture funding, and no payment to exchanges to be listed – underscoring that the Decred team and contributors are all about doing the right thing for long term (as manifested in their constitution for the project). The most encouraging thing we can see is both the quality and quantity of high calibre developers flocking to the project, in addition to a vibrant community attaching their identity to the project.
The company will be hosting an event in Berlin, see Events below. Arbitrade is now mining Decred.
Campus Party in Brasilia, Brazil. @girino, @Rhama and @matheusd talked about Decred. Matheus was interviewed by a TV channel. Check this quick report about the event, click "Show newer" to continue reading. (photos: 123)
Blockchain Summit in London, UK. This was not a full blown presence with stand but rather investigation of opportunities by @kyle and @Ani. The resulting detailed report is a good example of a document advising to stakeholders whether it is worth spending project funds.
Meetup in Berlin, Germany on July 18. @jz will give a talk and Q&A about Decred and chat with Ele from @oscoin about incentivizing developers. Hosted by BlueYard Capital.
Hey guys! I'd like to share with you my latest adventure: Stakey Club, hosted at stakey.club, is a website dedicated to Decred. I posted a few articles in Brazilian Portuguese and in English. I also translated to Portuguese some posts from the Decred Blog. I hope you like it! (slack)
Decred Assembly - Ep20 - Governance: Driving the Future (youtube) @cburniske and @traceagain discuss the importance of governance protocols being foundational and problems with delegated proof of stake
"I think that developers in the future are going to base their decision on where to build on the basis of governance and community. And so I look for good governance mechanisms and strong communities in blockchains." (@decredproject)
What is on-chain cryptocurrency governance? Is it plutocratic? by Richard Red (medium)
Apples to apples, Decred is 20x more expensive to attack than Bitcoin by Zubair Zia (medium)
What makes Decred different and better from other cryptocurrencies? (cxihub.com)
Community stats: Twitter followers 40,209 (+1,091), Reddit subscribers 8,410 (+243), Slack users 5,830 (+172), GitHub 392 stars and 918 forks of dcrd repository. An update on our communication systems:
Matrix chat logs are nowviewable on the web with the exception of some channels that are not bridged. The new web logs means our chats are now fully public and indexed by search engines.
Slack had an outage on Jun 27 that disturbed communications for a few hours, discussions continued on Decred's bridged platforms.
Jake Yocom-Piatt did an AMA on CryptoTechnology, a forum for serious crypto tech discussion. Some topics covered were Decred attack cost and resistance, voting policies, smart contracts, SPV security, DAO and DPoS. A new kind of DEX was the subject of an extensive discussion in #general, #random, #trading channels as well as Reddit. New channel #thedex was created and attracted more than 100 people. A frequent and fair question is how the DEX would benefit Decred. @lukebp has put it well:
Projects like these help Decred attract talent. Typically, the people that are the best at what they do aren’t driven solely by money. They want to work on interesting projects that they believe in with other talented individuals. Launching a DEX that has no trading fees, no requirement to buy a 3rd party token (including Decred), and that cuts out all middlemen is a clear demonstration of the ethos that Decred was founded on. It helps us get our name out there and attract the type of people that believe in the same mission that we do. (slack)
Another concern that it will slow down other projects was addressed by @davecgh:
The intent is for an external team to take up the mantle and build it, so it won't have any bearing on the current c0 roadmap. The important thing to keep in mind is that the goal of Decred is to have a bunch of independent teams on working on different things. (slack)
A chat about Decred fork resistance started on Twitter and continued in #trading. Community members continue to discuss the finer points of Decred's hybrid system, bringing new users up to speed and answering their questions. The key takeaway from this chat is that the Decred chain is impossible to advance without votes, and to get around that the forker needs to change the protocol in a way that would make it clearly not Decred. "Against community governance" article was discussed on Reddit and #governance. "The Downside of Democracy (and What it Means for Blockchain Governance)" was another article arguing against on-chain governance, discussed here. Reddit recap: mining rig shops discussion; how centralized is Politeia; controversial debate on photos of models that yielded useful discussion on our marketing approach; analysis of a drop in number of transactions; concerns regarding project bus factor, removing central authorities, advertising and full node count – received detailed responses; an argument by insette for maximizing aggregate tx fees; coordinating network upgrades; a new "Why Decred?" thread; a question about quantum resistance with a detailed answer and a recap of current status of quantum resistant algorithms. Chats recap: Programmatic Proof-of-Work (ProgPoW) discussion; possible hashrate of Blake-256 miners is at least ~30% higher than SHA-256d; how Decred is not vulnerable to SPV leaf/node attack.
DCR opened the month at ~$93, reached monthly high of $110, gradually dropped to the low of $58 and closed at $67. In BTC terms it was 0.0125 -> 0.0150 -> 0.0098 -> 0.0105. The downturn coincided with a global decline across the whole crypto market. In the middle of the month Decred was noticed to be #1 in onchainfx "% down from ATH" chart and on this chart by @CoinzTrader. Towards the end of the month it dropped to #3.
Please note: we will not accept any kind of payment to list an asset.
Bithumb got hacked with a $30 m loss. Zcash organized Zcon0, an event in Canada that focused on privacy tech and governance. An interesting insight from Keynote Panel on governance: "There is no such thing as on-chain governance". Microsoft acquired GitHub. There was some debate about whether it is a reason to look into alternative solutions like GitLab right now. It is always a good idea to have a local copy of Decred source code, just in case. Status update from @sumiflow on correcting DCR supply on various sites:
To begin with, none of the below sites were showing the correct supply or market cap for Decred but we've made some progress. coingecko.com, coinlib.io, cryptocompare.com, livecoinwatch.com, worldcoinindex.com - corrected! cryptoindex.co, onchainfx.com - awaiting fix coinmarketcap.com - refused to fix because devs have coins too? (slack)
About This Issue
This is the third issue of Decred Journal after April and May. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. The new public Matrix logs look promising and we hope to transition from Slack links to Matrix links. In the meantime, the way to read Slack links is explained in the previous issue. As usual, any feedback is appreciated: please comment on Reddit, GitHub or #writers_room. Contributions are welcome too, anything from initial collection to final review to translations. Credits (Slack names, alphabetical order): bee and Richard-Red. Special thanks to @Haon for bringing May 2018 issue to medium.
Cryptocurrency Terms And Definitions - Common Crypto Words To Know
The blockchain community is not left out when it comes to the use of jargon and phrases. The use of words that look strange to those who are not involved in crypto is totally inevitable. It’s definitely going to be difficult for anyone not in this space to understand words like “ERC20, ICO or gas. So in order to help such people out, we have made a list of the most common cryptocurrency terms and definitions. Please sit back and enjoy your ride. Cryptocurrency Terms And Definitions One can categorize these terms into various parts. First of all, we will deal with general cryptocurrency terms and definitions. Blockchain Blockchains are distributed ledgers which are secured by cryptography. Everyone has access to read the information on every blockchain which means they are essentially public databases but the data update can only be done by the data owners. In the case of blockchains, data doesn’t remain on a single centralized server, they are copied across hundreds of thousands of computers worldwide. Projects such as Ethereum, Vechain, EOS etc. fall under this class of technology. Mining: The means of trying to ‘solve’ the next available block. One needs huge amounts of computer processing power to carry this out effectively. There is always a reward for doing this. Mining rig: A specially designed computer that processes proof-of-work blockchains such as Ethereum. They consist of multiple high-end graphic processors (GPUs) so as to maximize their processing power. Node: This is a computer that has a copy of the blockchain and is working to keep it in a good shape. PoW: The full meaning of this is Proof-of-work. The Ethereum network currently makes use of this algorithm. PoS: Its full meaning is Proof-of-stake. It is the proposed future algorithm for Ethereum. Those that own ETH will be able to lock up all or a portion of their ether for a given amount of time in order to ‘vote’ and generate network consensus instead of mining in its current form. Stakeholders will get rewards in form of ETH by doing so. Fork: This takes places when a certain blockchain splits into two different chains. This usually happens in the crypto space when new ‘governance rules’ are infused into the blockchain’s code. Software wallet: A crypto-currency storage that exists purely on a computer as software files. You can generate these kinds of wallets for free from diverse sources. MyEtherWallet (MEW) is one of the most popular sources around. Hardware wallet: A device that one can securely keep cryptocurrency. People often say that these wallets are the most secure way to store cryptocurrency. Examples of the most common hardware wallet models around are Ledger Nano S and Trezor. Cold storage: This is a way of moving your cryptocurrency from an online wallet to an offline one, as a means of safekeeping them from hack. There are a lot of ways to carry this out. Some methods that are commonly used include: · Using a hardware wallet to store your cryptocurrency. · By printing out the QR code of a software wallet and keeping it somewhere which is safe. · You can also move the files of a software wallet onto an external storage device such as USB drive and keeping it somewhere safe. Trading Related Cryptocurrency Terms And Definitions Exchange: These are websites where people trade (buy and sell) their cryptocurrencies. Some of the popular crypto exchanges we have around include Binance, Poloniex, Bittrex etc. Market order / market buy / market sell: A sale or purchase which is made on an exchange at the current price. A market buy acquires the cheapest Bitcoin available on the order book while a market sell fills up the most high-priced buy order on the books. Limit order / limit buy / limit sell: These are orders which are placed by traders to buy or sell a cryptocurrency when the price reaches a certain amount. They are pretty much like ‘for-sale’ signs you see on goods. Sell wall / buy wall: Cryptocurrency traders are able to see the current limit buy and sell points using a depth chart. The chart’s graphical representation is very much like a wall. FIAT: Refer to a government-issued currency. An example is the US dollar. Whale: A person who owns huge amounts of cryptocurrency. Margin trading: This is an act of increasing the intensity of a trade by using your existing coins. It is very risky for an inexperienced trader to partake in this. Stay safe!! Going long: This is a margin trade that gives profit if the price goes up. Going short: It is a margin trade that gives profit if the price goes down. Bullish: Being optimistic that the price of cryptocurrency is going to increase. Bearish: This is an expectation that the price of cryptocurrency is going to decrease. ATH: This simply means All-Time-High. This is the highest point that has been reached by a particular coin or token. Take for instance, Bitcoin’s ATH is about $20,000 and this was achieved around December 2017 and January 2018. Altcoin: A word used to qualify other cryptocurrencies which is not Bitcoin. Examples of altcoins are Ripple, NEO, EOS, Vechain, Electroneum etc. Tokens: These are ‘currency’ of projects which are hosted on the ethereum network. They raise money by issuing their own tokens to the general public. Tokens have a significant use in the project's ecosystem. Examples of tokens are Enjin Coin (ENJ), Zilliqa (ZIL), OmiseGO (OMG), Augur (REP) etc. ICO: The full meaning is Initial Coin Offering. This is synonymous to an IPO in the non-crypto world. Startups give out their own token in exchange for Bitcoin or ether. Shilling / pumping: An act of advertising another cryptocurrency. It is mostly done in a way that tricks as many people as possible into believing that a coin or token will get to a higher price in the future. Market Cap: This is the total value of a cryptocurrency. To calculate this, one has to multiply the total supply of coins by the current market price. You can get a run-down of several cryptocurrency projects on Coinmarketcap. Stable coin: This is a cryptocurrency which has an extremely low volatility. You can use a stable coin to trade against the overall crypto market. Arbitrage: A situation where a trader takes advantage of a difference in the price of the same coin / token on two different exchanges. FOMO: Simply means Fear Of Missing Out. That overwhelming feeling that one needs to get on board when there is a massive rise in the price of a commodity. This is also applicable in the crypto space. FUD: Fear, Uncertainty, and Doubt. It is a baseless negativity which is spread intentionally by someone or a group of people who want the price of cryptocurrency to decrease. FUDster: A person who spreads FUD. Pump And Dump: This happens when an altcoin gets a ton of attention, leading to a massive increase in price, and likewise followed by a big price crash of that altcoin. ROI: Return on Investment. The percentage profit a trader makes on an initial investment (i.e. A 100% ROI simply indicates that a trader doubled his money). TA: Trend Analysis or Technical Analysis. A way of examining current coin charts so as to make predictions for the next market movement. Next, we will be moving on to crytocurrency terms and definitions that are ethereum related. Dapp: Decentralized Application. It is an application that uses a decentralized peer-to-peer network like Ethereum smart contract as its back-end code. Bagholder: A person who still holds on to a particular altcoin despite having a pump and dump crash. Smart contract: This is a code that is deployed onto the Ethereum blockchain, it often helps with the direct interaction of how money flows from one point to another. The Flippening: A future event showing the capacity of Ethereum’s market cap (or some other cryptocurrency) surpassing Bitcoin’s market cap, making Ethereum the most ‘valuable’ crypto-currency. Gas: It is a measurement of the amount of processing needed by the ethereum network to execute a transaction. More complex transactions like deploying a smart contract onto the network requires more gas than sending ether from one wallet to another which is obviously a simpler operation. Gas price: This is the amount of ether an initiator of a transaction is willing to spend for each gas unit on a transaction. The higher the gas price, then the faster the processing of the transaction. Wei: It is the smallest denomination of ether. Gwei: This is a denomination of ether (ETH). Gwei is the unit for measuring gas prices. 1 Ether = 1,000,000,000 Gwei (109). MEW: MyEtherWallet is a site where users can generate ethereum wallets for free. We also have a handful of cryptocurrency terms and definitions that are memes. See some of them below; Hodl: People use this word when signifying that a person is keeping his coins / tokens for a long period of time. A couple of years back, someone on a Bitcoin forum made a post with a typo HODL in place of HOLD. Ever since then, this term has become one of the most popularly used term in crypto. Mooning: In crypto, this term comes to play when the price of cryptocurrencies move up astronomically. Lambo: This is highly synonymous with crypto. You can't leave out this word when discussing about cryptocurrency terms and definitions. This is the car we’re all goona buy when crypto makes us rich. This is gentlemen: People use this phrase when pointing out positive things that are currently taking place in the cryptosphere. Now that you are conversant with some of the commonly used cryptocurrency terms and definitions, you can now go out there and showcase your new crypto vocabulary to the world.
Critical to all mining operations is the “break even” factor, which the mining estimator seeks to determine. This is the value of cryptocurrency that must be produced for the cost of the rig to be paid for. For example, one featured Bitcoin mining rig costs USD $1,767 to build and operate and generates $4.56 in profit per day at current prices. In a time of global crisis, a pandemic, and a generally unstable political and social environment, cryptocurrencies have shown remarkable stability. Moreover, the pandemic-induced economic downturn played into the hands of the industry by not only attracting professional cryptocurrency traders but also reviving mining as a way of generating passive income. Digital currency mining has become a popular way for tech-savvy individuals to generate a return in the digital currency markets. However, as mining difficulties increase and the market becomes more and more competitive, miners need to ensure that they have the best crypto mining rigs to maximize revenues. Mining Rigs Still Profitable at Current Bitcoin Price. Alex Kern, a research analyst at Fundstrat Global Advisors, said that at the current BTC price level of $10,000, older generation mining rigs such as the Antminer S9 and WhatsMiner M10 continue to be profitable. He added that it would cost miners using these machines approximately $8,528 and $7,351 respectively to mine a single BTC. Lee ... Cryptocurrency mining is not trendy anymore. Wrong! It still makes a lot of fuss in the blockchain community. As long as the first and the leading cryptocurrency, Bitcoin (BTC), will require mining rigs, cryptocurrency mining will be trending. Building a mining rig in 2020 is much easier than it was, say, two years ago. While it is still possible to mine altcoins with a GPU (or even a CPU) these days, bitcoin and most others have gone beyond accessibility for home miners. In 2018, most mining is done using powerful ASIC (application-specific integrated circuit) rigs that have been created specifically for mining. While ASIC mining rigs are great for the miners who have plenty of space and access to cheap ...
Mining Rig Cleaning - Very Important Cryptocurrency Market Crashing
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