Chainium is a project coming from Liechtenstein, a small country in the European Union. They aim at improving the today’s equity market, and given the new technological advancements, the time seems right to build it anew.

You can read more about Chainium, on the internet, on their website Chainium.io. Make sure you check their whitepaper business documentation, but also the technical part and the part related to security.

The motto of this company is:

The Equity Market is Broken

Let’s Start Again

The intent of this company is to open the equity market to the public. They want to create a new platform that will offer companies a secure ecosystem for raising capital. Blockchain technology with its smart contract mechanism will provide the best possible support, and all transactions will be based on their native token.

The advantage of using blockchain is that there’s no centralized authority validating the ledger, because the trust mechanism is inherent in the blockchain. This creates a direct link between investors and businesses. By removing the middle layers off the market, the fees are substantially lower.

Chainium already completed one round of pre-sale in December last year. This month, Chainium is ready to advance to the next step, which is their main sale. The hard cap of this sale, which is 8 million dollars is due in March. The price of one token, CHX, is related to Ethereum as one CHX=0.00017 ETH. There will be 200 million CHX, and half of the supply will be sold in March.

Any company in need of capital for rapid growth will be able to use CHX as utility token on the Chainium platform. Business owners will have to lock their tokens in a Smart Contract, which will provide a share offer on Chainium. This way, businesses and investors are linked, and at the same time protected from fraud.

From the start of the campaign up to date, the Chainium team has managed to raise as much as $5 million in closed sales. They have a lot of experience in this area, so the risk is well managed. If you are looking for a project with low risks and good prospects, Chainium might be the right choice for your.

Chainium will release an app, based on the blockchain platform, by the end of this year for investors and businesses to buy and sell shares. We were able to find their prototype app already on google play and app store.

Let us recapitulate why you would be interested in Chainium: there’s no middle layer and the fees are greatly reduced, if you are an investor you can buy shares directly from business, business can sell shares directly to investors, and do that for free, without any bank or IPO.

 

Useful Links

Website: chainium.io

Whitepapper: business whitepaper

Disclaimer

Butka.me doesn’t provide predictions, recommendations or consulting advice with respect to investment decisions. None of the posts and content on Butka.me is investment advice. No information given on Butka.me should be considered a replacement for advice from a certified financial planner. The visitors are encouraged to turn to independent professional services before making any investment decision. The reviews given on this website are based on publicly available documents, such as whitepapers, reports, roadmaps, and project websites. Please do your own due diligence before making any decision regarding ICO or Cryptocurrency investing.

This is a question that was asked in a public talk by one of the most widely known bitcoin proponents and popularizer, Andreas M. Antonopoulos. His books are bestsellers and true gems in this area. I very much like and recommend two of his most famous works: The Internet of Money and Mastering Bitcoin: Programming the Open Blockchain

Back to the subject of this post. The question was basically this:

“Right now we know that bitcoin has the largest network effect. So, in the event of a contagious hard fork, how likely is that the bitcoin becomes obsolete as the main currency and other currencies take over by far?”

You can watch his answer on youtube, or simply read what he said below (all the emphasis are ours).

Here’s the answer:

“That’s a very good question. How likely is it that bitcoin becomes obsolete? I don’t think it will become obsolete. I think if it faces a contagious hard fork, this is an example of things to come.

Bitcoin will be attacked. It will be attacked through its mining, it will be attacked through the network, it will be attacked legally, it will be attacked in every possible way. If you don’t think bitcoin is going to be attacked, you misunderstood what this is about.

You don’t go and poke 20 trillion dollar industry and go ‘Hey, we are gonna disrupt you.’ And then wait for it to roll over. This is offensive to a lot of governments and a lot of very very rich institutions, and there are a lot of people who don’t want to see bitcoin succeed because it is decentralized and they are going to attack every aspect of it. Every aspect of bitcoin will be attacked.

So, if a fork happens we get to learn what happens when a fork attack occurs and we learn how to defend against attacks. Make no mistake. Anybody who walks into this thinking that a fork will be unopposed is going to very quickly discover that this will be a battle on all fronts.

Day 1: ‘We’ve achieved 51 percent. We are now going to fork bitcoin.’ Kind of seems like ‘Hey, shipping date is here. Our works is done.’

Your problems are just about to begin my friend. You launch a 51 percent attack? That means you are seven blocks ahead every 24-hour period. If you can sustain it. But inevitably the two sides are going to attack each other. They are going to attack each other on the network, they are going to attack each other with denial of service attack (DDOS), they are going to attack each other with hashrate, are they going to attack each other publicly, privately, anonymously, in every possible way and immediately.

Every bug in the software will get poked and then poked again. And if you try to fix it, you’d better write that code well because if you put another bug in, that’s gonna get poked too. And then it becomes a battle about who has the best software development team and how quickly they can maintain that code and keep uptime because that race is only 7 block wide.

I don’t think some of the people who are threatening to do hard fork of 51% have thought clearly about the implications of what happens immediately afterwards. This is not going to be an easy game. It’s going to actually allow bitcoin to test all the possible attack scenarios, on nodes, on networks, on relay networks, on hashing, transaction malleability, replay transactions and everything else.

What would come out of that? Probably a bitcoin that’s worth a lot less. Or, in my view, a technology that’s worth a lot more because it’s battled hard, and when it has come out of that it will have survived its first fork attack and we will know a lot more about what happens in highly contagious fork environments.

Etherium taught us a lot. But it didn’t teach us much about  highly contagious forks. The fork was initiated by the main development team which had more than 80% of their hashrate on their side.

The other thing to remember, and I think this is important, there is a lot of people who say if bitcoin stumbles, it’s going to be overtaken by one of these other currencies. It’s very important to not mistake smooth sailing for good sailors. Right? In order to have scaling problems, you first need to have scale. In order to have governance problems, you need to have a controversy to govern over. Right? And everything is hunky-dory kumbaya until you have 20 billion dollars on the table and then the long knives start getting sharpened…

…And you can then say, ‘Oh, it’s not what it looked like. Don’t pay attention to the stubbing, pay attention to the fact that we all came together to stab together’…

…The point here is that what’s happening in bitcoin now, isn’t unique to bitcoin. If one of the other currencies gets to this scale and has to handle this many transactions, they have a scaling problem which they are going to have to resolve. There will be differences of opinion as to how to resolve that. Some approaches will lead to massive centralization and a takeover by miners.

Some approaches will lead to failures in architecture and software. These problems will repeat for every other currency. These are the rites of passage. You first have to grow up to face them, right?

And so, the big advantage that many of the other block-chain based currencies have is that they can look at bitcoin, watch what happens, and learn these mistakes cheaply, so that they don’t have to repeat them expensively. Now, how many of the block-chains are actually doing that?

Not many. Because for the most part they are too busy going: ‘We are the best. We are going to win next.’ Right? And not paying attention to the fact that these exact same problems are going to exist in their own blockchain. There are no easy answers.”

To my mind, his answer was very encouraging, in the sense that attacking bitcoin at the current phase of development is not an easy task. On the other hand, it is obvious that there will be some kind of confrontation in the future with more or less uncertain outcome. But from current perspective, bitcoin’s fundamentals are pretty strong to me. What are your thoughts and dilemmas? Please share them in the comment section below.

Stipend is a relatively new decentralized platform for hiring people online based on blockchain technology. Their cryptocurrency is Stipend coin (SPD), which can be mined, and if you have a good GPU, the profit can be quite OK. This coin drew my attention as I was looking for a profitable coin for my NVidia GTX 1080 Ti graphic card.

Stipend uses instant payments, low payout fees, staking capabilities of their wallet, master nodes, and other goodies.

My internal mining calculator gave me an approximate estimate which fitted well in what I would expect for a daily return in BTC, so I decided to give it a try.

At this moment, if you go to whattomine.com and crypto-coinz.net you won’t find SPD listed there, simply because it uses an algo called C11. I wasn’t able to find any C11 algorithms over there. But NVidia graphic cards are capable of working very well with this algo, meaning it can be profitable.

So, Stipend is certainly among the coins that are currently very profitable, especially if you are searching for C11 coins to mine.

We all know that these days solo mining is not feasible. You have to mine in a pool unless your hashing power is huge. There are some really good mining pools you can plug your GPU card into and earn come coins almost immediately.

Now if you own an AMD Gpu you would like to choose sgminer, for Nvidia, the best choice is ccminer. C11 resistant to both ASIC and Nicehash, well, at least currently.

Other coins include CHAINCOIN, INTERZONE, FLAXSCRIPT, DIXICOIN, BITHOLD and others.

Read about the other properties of Stipend on their website. According to their roadmap, the team members will reveal their identities Q3, 2018. Before mining, check also bitcointalk. That’s always a great source of information.

How to Mine Stipend

This guide will be for Nvidia GPU’s. You can probably do something similar with AMD cards and sgminer.

  1. If you want to mine SPD, first thing is to get the official Stipend wallet. For Windows Users you would have to get this wallet from here. Choose the right wallet for the OS you have from their official website. Once the wallet is downloaded, you just run the file called “stipend-qt.exe”). It may ask for some network permissions, and after you allow them, it should start up and connect to the network. In case you have problems connecting the wallet with its nodes on the internet (just like I had) then try this wallet no sync guide.
  2. Let the Stipend wallet load. Then go to Receive in the menu on the left, and make note of your address. That’s all you need need from your wallet at a present time. You would use your address in the steps below to set up your miner. You will also receive the coins you have mined on that address.
  3. Now you have to download the Nvidia miner. For Nvidia GPUs, one of the best miners is ccminer. You can get it from here: Alexis78 build.
  4. Next you need to create a bat file in the same directory where ccminer is located. This is a simple document. You can name it, for example, “my-stipend-start.bat”. Now write a single line of code into this file. The following is a template: ccminer.exe -a c11 -o pool-url:port -u username -p password For example, here I will use as an example the protopool mining pool, and the file should look like this: ccminer.exe -a c11 -o stratum+tcp://eu1.protopool.net:3583 -u SkaiH76hiXTCWuXAA9CftGke3AHU1niEDy -p c=SPDThe part -a c11 tells the software that you intend to mind the C11 algorithm. The part -o pool-url:port is about the mining pool you are going to use and the port number to connect. The port number will be different from pool to pool. Here I selected protopool.net:3583, I mined there something like less than one day. Feel free to choose any of the SPD pools listed below. They should all give you the same results over time. Select larger pools for greater consistency in payouts. Check the detailed instructions for each pool separately. For example, protopool doesn’t have a login and password. In the password field you are supposed to give the currency you will mine: -p c=SPD. Don’t forget to change the above username to the wallet address you copied in step 2.
  5. Once you have put all important switches in the bat file, save it. You are now ready to start your job. Just double click it and the miner will connect to the pool stratum and start mining.

List of Stipend pools

Here is a list of Stipend pools you may find convenient to start mining. There are many more, but this is enough to get you started:

hashfaster.com – 1% fee

protopool.net – 1% fee

bsod.pw – 0.9% fee

lycheebit.com – 1% fee

What Graphic Card Should You Use?

C11 coins like Stipend are good for the newest Nvidia Graphic Cards. As for the AMD, you should check the profitability rates, I haven’t tried that myself. In any case, be aware that profitability varies from day to day, even from one hour to the next.

If you currently don’t have a GPU, our recommendation is this GTX 1080 Ti, Nvidia Graphic card.

Exchanges

Once you have your coins in your wallet, you will have to make a decision, whether you are going to stack them or go to an exchange with them. Currently SPD is supported on the following exchanges.

CryptoBridge

Masternodes.online

If this post was useful to you, consider tipping some SPD coins to my address, SkaiH76hiXTCWuXAA9CftGke3AHU1niEDy  Happy mining!

There are more than 1500 known coins available at the moment of writing this post. Bitcoin is the most widely known, and something about 10-20 of them are relatively well known.

Some of the popular coins used by individuals as well as companies and institutions are Monero, Zcash, and DASH. They all belong to the category of privacy cryptocurrencies. Even thought they are far away from widespread usage, they have found a larger scale acceptance than the others.

To these three, we can add two more, PVIX and Cloack coin, both of which are also private coins. In the Zcash category, there are several very similar crypto-currencies, like ZCoin, Zclassic, and Zencash. As of recently, Zclassic has been forked into BitcoinPrivate, which may in the future become one of the most important Privacy coins.

DASH is a popular crypto-currency offering real life solutions to owners of Dash coins, like payments and credit cards. When you own Dash coins it makes sense to use the to load these specialized credit and debit cards.

All this brings these coins closer to mainstream applications, but even if you don’t use them for that, some basic understanding as to how they work can always be very helpful.

Let’s inspect each of these privacy coins sloser.

Monero Coin

Monero belongs to the new generation of currencies with enhanced privacy properties. While the algorithm of Bitcoin is SHA-256 hash, Monero uses CryptoNote Proof-of-Work algorithm. CryptoNote is designed having ordinary PC CPUs in mind, so that to prevent GPUs or other expensive hardware to take over the mining process. The technology that Monero is called CryptoNote. It offers different encryption techniques.

Monero could be considered a secure and quite a bit more private coin than Bitcoin. Here we have both higher privacy features and higher security. For example, in Monero you would find stealth addresses and ring signatures. If you really need to hide your identity, Monero is designed for that.

Privacy is optional in Monero, though. You can choose to reveal your identity or to keep it hidden. They have solved this by having separate addresses for the transactions.

As it is the case with most of the Altcoins, Monero cannot be bought directly. You first have to get some Bitcoins and use them to buy Monero coins. Some of the major exchanges, like Coinbase don’t support Monero, so you would have to go to Kraken, and other medium sized exchanges that list this coin. In any case, you won’t have much problem converting your bitcoins once you have them in your wallet.

If you don’t want to use your fiat money (dollars or euros) to buy Monero, there is an alternative. You could go to Genesis Mining, or other similar systems, open a mining account, and mine your own Monero. Or some other currency of your choice.

At this moment (March 2018) Monero is worth BTC 0.0272 or $ 252.6. This may change of course.

The market cap is currently around $3.9B.

Zcash

Zcash, Zero Cash, is another famous privacy altcoin. It is usually abbreviated as ZEC. It offers high levels of privacy and security. It also has two types of addresses, transparent and private. The difference is that Zcash is created by a company. The name of the company is Zerocoin Electric Coin Company. While this might seem to bring security at first, especially given the expertise of some of the founders, the Altcoin community was very skeptical about having a company in charge of a coin. They also take 20% of all mining fees into a developers fund, which can be viewed as both a good and a bad thing.

However, the security and privacy of ZEC is not questionable. It uses a state of the art zk-SNARKs technology. You can check this post for a more technical explanation.

The acceptance of ZCash is not over the top. You can buy it easily though on a number of well established exchanges, but first you have to purchase some BTC for fiat money. Or if you don’t want to to that, you can always mine some ZEC coins, even if you don’t have your own mining hardware. You can use a company like HashFlare to mine your own crypto currency.

At this moment (March 2018) ZEC is worth 0.0312 BTC or $ 288.6. This may change of course.

The market cap is currently around $800M.

DASH

DASH is a cryptocurrency that changed its name from Darkcoin. The reputation of this coin was questionable as it was associated with the DarkWeb. However, today DASH tries to improve its image and to be seen as a crypto ready for mass audiences. It tries to be adopted as digital cash by legitimate merchants. On the DASH’s webiste you can find a list of merchants, web stores and visa and debit card providers. This would indicate that this coin is approaching the mainstream faster than some other altcoins. For example, by using Shakepay as a credit card, you can convert DASH, BTC, and a couple of other currencies into Euros or US dollars.

DASH has a potential, but it remains to be seen whether or not it will be accepted even further. As far as investing is concerned, DASH seems to be well positioned.

At this moment (March 2018) DASH is worth 0.053 BTC or $ 486.9. This may change of course. Check out this post for more detail.

The market cap is currently around $3.9B.

PIVX

PIVX is Private Instant Verified Transaction coin launched two years ago. Much like the other private crypto-currencies, the focus is on creating secure and private money. It also used to be associated with Darknet under the name DNET, but it managed to create a distance from its past.

PIVX is attempting to create a global payment network. It is an open source project with strong ideological touch. In the long run, PIVX is attempting to incorporate messaging along with transactions and mutual compatibility with the other coins. There are some practical applications with this coin, like buying apps on GitHub.

At this moment (March 2018) PIVX is worth 0.00049405 BTC or $ 4.5. This may change of course.

The market cap is currently around $250M.

CloakCoin

CLOAK is a coin designed from the beginning to be totally private. It has many layers of security, including offline coin mixing, extra encoding, and a system for transactions called Enigma. Tracking is further prevented by adding an additional layer of fungibility.

At this moment (March 2018) PIVX is worth 0.00097 BTC or $ 8.9. This may change of course.

The market cap is currently around $45M.

Which One?

This is a question you will have to answer for yourself. It depends on what you are going to use them, whether you plan to invest in them, etc. Judging from market cap alone, you can see where the potential for growth lies. You should also take into account the possibility of widespread use. For example DASH is integrated with MasterCard and Visa, which is a huge plus.

What About Privacy?

It is hard to talk objectively about the levels of privacy in these coins. Without a doubt, the most private currency seems to be Monero. It is no wonder it is being used on the Darknet for true anonymity.

ZEC is very fast and cheap, but it doesn’t have privacy as a default option. By default, all addresses a tranpsarent. In contrast, with Monero, you have no other option but to go private. However, the transaction is expensive in terms of resources, like cpu, memory, bandwidth, which translates into larger fees. DASH is less secure than the two, but it is very mainstream. Cloakcoin has a good potential to take over Monero’s current position. Its transaction system ENIGMA is open source which promises great future for this crypto. PIVX, as a fork of DASH, is very much like DASH, but it has a PoS (Proof of Stake) and a protocol level governance. Adoption is a big problem of PIVX, though.

There are other promising privacy coins outhere, like Komodo, Verge, ZClassic, Zoin, Zcoin, and BitcoinPrivate. For one, BitcoinPrivate is an interesting and promising cryptocurrency.

The Bottom Line

The problem of mainstream adoption is huge with all of these private coins. If that could be solved Monero, DASH, Zcash, CloakCoin, and PIVX could all be used in apps and everyday usage. Until that time, you can consider them interesting and promising investments.

Bulwark is a privacy oriented cryptocurrency that utilizes a combination of proof of work (PoW) and proof of stake (PoS). If you are like me trying to find new, potentially profitable coins to mine, then you know about sites like whattomine.com and crypto-coinz.net. Bulwark is certainly one of the coins that will appear on those sites as the most profitable ones, especially if you are searching for NIST5 coins.

Of course, when you mine these days, you almost always mine in a pool, as solo mining is not so feasible, that is, unless you have tremendous hashing power. So, you would have to plug you hardware into a mining pool to see rewards pretty immediately.

NIST5 is a crypto algorithm, and Bulwark is one of the nist5 algorithm coins. Other coins include ELECTRA, DENARIUS, FALCON, NAMECOIN and others. This algo tries to be better than the other mining algorithms out there by its low power consumption and low temperature of the graphic card. It also provides good security and performance.

In addition to mining, if you decide to be a coin holder, you may choose to operate a Masternode. It is not easy to do that, but if you manage to run a masternode, you will get a combination of PoW and PoS block rewards. Bulwark is projected to have about 14 million coins by the end of its first year of operation. Block time is 90 seconds and miners are rewarded with 50 coins per block for the first quarter of year one. A total of roughly 3.5 percent of the PoW generated coins were premined to pay for development, marketing and exchange listing.

Read about the other features of this coin on the corresponding website. Make sure to check the team, whitepaper, and github.

How to Mine Bulwark

This is a guide for Nvidia based graphic cards.

  1. If you decide to mine this coin, first thing you would have to do is to download the official Bulwark wallet. Depending on your operating systems you would have to choose different wallets. For example, if you have a Windows 64-bit operating system you would have to download this wallet. You can even find a paper wallet, which is the most secure, but somewhat trickier to work with. Choose the right type of wallet for your OS from the official website. Once downloaded, extract the wallet and run it (on my computer I had to run the file called “bulwark-qt.exe”). It may ask for network permission, which you should normally allow.
  2. Let the wallet load and then go to “File–>Receiving Addresses”, and copy your address. That’s more or less all you need to get from the wallet. You would have to use it later when you set your miner up. After the mining you will also receive your coins on that address.
  3. Now download your miner. For Nvidia GPUs, I have found that one of the best mining option is to use ccminer. That being said, there are many ccminer versions, not all of them suitable for mining NIST5 coins. You could choose any newer ccminer version. One of the best would be the tpruvot ccminer in the Alexis78 build.
  4. Next you should create your start file in the directory where ccminer is. It is a simple text document with the extension “bat”, for example “mystartfile.bat”. All you should do is write a line of code into it, like this: ccminer.exe -a nist5 -o pool-url:port -u username -p password For example, if I were to use bsod.pw mining pool, the file would look like this: ccminer.exe -a nist5 -o stratum+tcp://pool.bsod.pw:3833 -u bbghHkBZrWAgDGz1RRCq5PjDCdYPpbhvau -p c=BWK
    The part –a nist5 tells the miner what algo you are going to mine. The part -o pool-url:port tells the miner about the mining pool you have chosen. Here I selected bsod.pw for no particular reason. Feel free to choose any of the BWK pools indicated below. They should all give you more or less the same results in the long run. If the pool is larger in terms of hashing power, you will see more consistency in the payouts. Make sure you check the fine details too. For example, this particular pool doesn’t have a password, instead you can choose your currency in the password field, like in the example above: -p c=BWK. Don’t forget to change the username to your wallet address, -u wallet-address as well.
  5. Once you have put in all relevant info in this bat file, save it, and you are ready for mining. Just double click this file and ccminer will connect to the pool and start mining.

List of Bulwark pools

Here is a list of pools  you may choose to start your mining adventure along with their current fee structure. There are many more, but this list should be enough to get you started

bsod.pw – 0.9% fee
bulwarkpool.com – 0.5% fee
hashrefinery.com – 1.25% fee
yiimp.masterhash.us – 1% fee
yiimp.poolofd32th.club  – 0.5% fee
umine.org – 0.5% fee

What Graphic Card Should I Use?

NIST5 coins like Bulwark are supposed to be very good for the Nvidia 9xx series. As for the AMD graphic cards, they should give way less hashing power with cards of corresponding price, but I haven’t checked this personally. You should go to whattomine.com enter your graphic card and check the NIST5 Hash rate in Mh/s. Then you may check your profitability with that hash rate for mining Bulwark here. Please note that profitability is a variable that depends on the current difficulty for mining, exchange rate, and other factors. It may change rapidly throughout the day.

If you want currently the best of the best Nvidia mining cards, our suggestion is EVGA GeForce GTX 1080 Ti, K|NGP|N edition.

Exchanges

Once you have your coins mined, you might want to exchange them, so the question is where to go. Currently there are four exchanges supporting it. The number will certainly increase in the future.

CryptoBridge

Cryptopia

Stocks.Exchange

Coinsmarkets

If you found this guide useful, you may consider donating some BWK coins to my address, bbghHkBZrWAgDGz1RRCq5PjDCdYPpbhvau Happy mining!

As a newcomer to bitcoin and blockchain technology, I was interested in learning a bit about the announced lightning network that is to be Incorporated in the future bitcoin network. You too may be wondering what’s the impact of lightning is, what’s segwit has to do with it, how will it affect transactions, etc. So let’s dive in.

The Lightning Network has been introduced as a key feature that will help scale the Bitcoin network. It would enable for many more new users in the years to come. The fundamental concept is to put a caching layer on top of the block-chain. This caching layer would allow users to send end receive transactions with each other, avoiding each and every transaction to be broadcast for miners to confirm and everyone to see.

This was a great news for the development community of bitcoin. This solution, which introduces another layer on top of bitcoin’s, is not so great for the miner community, as they view this idea as a threat in the long term. They may lose money for transaction fees, as the transactions are going to be processed within the Lightning Network and not within the blockchain.

Lightning Network in More Detail

The following is an excerpt from several talks given by one of the most famous bitcoin expert and promoter, Andreas M. Antonopoulos. You can watch the entire video on Youtube. (I’ve transcribed a part of it for your convenience, for example if you don’t have time to go through the video and you just want to skim and catch a glimpse of the meaning. I apologize up front if there are any typing or other mistakes!)

“Lightning network involves local validation of the same consensus rules as bitcoin. It has to be the same consensus rules.

But you get to earn fees by committing funds into a channel. That sounds very much like proof of stake to me.

I think it represents a tremendous opportunity for users who want to run a bitcoin full node. If you want to run a bitcoin full node it takes quite a lot of commitment and data storage and CPU and RAM and band-width.

Not many people do that, probably about 5-15,000 users….”

“It takes a big commitment in resources and you don’t get paid to do this…”

“Clearly incentive matters. Lightning is one way we can incentivize running full nodes, validating nodes, and also for archive nodes potentially. That’s going to be a really important development in bitcoin and I am very much in favor.

Now, you would think that a group of miners that run nodes that already collect all transactions, already have to be fully validating nodes, would look at lightning network and go:

Hey, we can earn more fee using the same infrastructure by running lightning nodes. We should be hubs for payments. We could extend into this space.

Why are they not doing that?

Because lightning network and running full nodes is software and it requires maintenance, system administrators, and security professionals, and configuration, and upgrades, and all of the kinds of things that you can’t simply get someone to rack and mount hardware to do. It’s an alien world. It’s not better, it’s not worse, it’s just on the other side of that culture divide.

That’s goes a long way to explain why miners aren’t jumping up and down and saying:

Hey, yeah, I want to run lightning. We are going to be best positioned to be running these hubs.

Because it’s not the same as racking mining hardware.”

Question: Is it actually possible for me right now to have my first experience with making a lightning network transaction?

“Without a segregated witness which is an architecture change in which the transactions are organized, lightning can work but it removes some very usable features.

When you are using bitcoin you don’t have to be online in order to receive bitcoin. With lightning you do have to be online in order to initiate, and then you also have to remain online and monitor the channel to prevent the other party from unilaterally closing the channel in a way that cheats you out of your balance.

And lightning has this fascinating market-based game theory where your software is watching the channel and if the other party tries to close it unilaterally to steal the balance, you have a certain time, about 8 hours to transmit a competing transaction that actually takes everything.

So the punishment for trying to cheat in lightning is you lose everything.

But in order to apply that punishment so that the other party doesn’t try to cheat you have be online. Now, if segwit is passed, there’s another way to do this which is really fascinating where you can outsource for a fee the monitoring of the payment channel to a third party who knows absolutely nothing about the channel.

They don’t know how much money you have in the channel, they don’t know who the channel is with and they can monitor for you. And you don’t have to be online anymore.

And if someone tries to steel from your channel, they get a cut of your penalty, make a bit of money on that and you don’t have to remain online anymore. But the only way do that is if segwit is running.

So lightning with segwit is much better for privacy and for security than lightning without segwit, even though we can do it. It’s much more usable, it’s much more straightforward, it’s much more easy for the users, because then than can be handled transparently.

But if you want to try it out, you can try it out on test net, on test net. I’ve already been running lightning for now 5 months. What happened in the 2 years since it was first discussed, was they built it and they built it with full entwined multi-hub onion routed encryption that will increase bitcoin’s privacy substantially and make bitcoin a much more anonymous network, much more difficult to analyze, which is fantastic.”

How to Run a Full Bitcoin Node?

Now, as indicated above running a full node is an interesting possibility. I haven’t considered it as of now, but maybe I will in the future. So what does it take to do so?

These are the requirements to run a full node, as stated on the bitcoin.org website:

First of all, you need to have certain hardware, a weak computer won’t do it. You can try but you would have to spend some time dealing with possible issues.

Here are the minimal requirements:

  • Desktop or laptop computer running a modern Windows, Linux, or Mac OS X operating system.
  • 125GB disk space (which is for the size of the blockchain itself and some room to grow)
  • 2GB of RAM
  • Your internet connection should have a minimum of at least 400 kilobits or 50 kilobytes per second of upload speeds.
  • The download is not that crucial, and you will download about 20 GB per month, and the first time you download the full node about 100GB.
  • 6 hours/day that your full node can be left running. (You can do other things with your computer while running a full node.) More hours would be better, and best of all would be if you can run your node continuously.
  • Full node would likely have the amount of 200 GB or more in uploads every month.

At the beginning of bitcoin’s existence, there were no transaction fees. In fact, donations to the miners in a form of transaction fees were optional. If the person sending bitcoins wanted to pay some transaction fees, they were able to do so. As a result of their payment, the transactions were processed faster.

When it comes to wallets, each wallet had its own fee for each transaction, the one that the developers believed was right.

For example, in the early phase of development, Bitcoin Core Wallet changed its default fee several times per year as the exchange value of bitcoin increased. From the initial 0.01 BTC, it soon went to 0.0001 BTC.

All good wallets use a dynamic fee system with algos designed to define a default fee considering that the transaction will get confirmed within a decent time window.

You may check the current time expressed in block given for various transaction fees on the following website.

The assumption, when it comes to fees, is that transactions with higher rates will be included within blocks prior to transactions with lower rates.

The wallet developers have to adjust the algorithm for fee estimation to be able to correctly predict the state of the fees, or otherwise transactions may be stuck. If your transaction has a reasonable fee, but other transactions from other users are broadcast with higher fees, you are pushed toward the bottom of priority queue of the miners.

One not so simple solution would be to update your fee as time passes, which is not easy to do. This is for example implemented in the Electrum wallet.

Or one could implement a method called Child Pays For Parent, where new transactions with larger fees are added that use the output of your low fee transactions. This essentially prioritizes the confirmation of the entire set of transactions.

The volatility of the fee market can be a problem that makes it difficult to set minimum and maximum fee levels.

If you have low priority sends, you should try to find a minimal viable fee. But this is not an easy task, especially for wallets that get a lot of low value transactions.

All providers of software for creation of transactions are competing with each other with their algorithms for fee estimates.

When considering the space on Bitcon’s blockchain, this will for sure be a scarce resource in the future.

The transaction fees are usually shown in satoshis per byte.

One satoshi is exactly 0.00000001 BTC

As an average transaction size is about 200 bytes, if one knows the current average fee in satoshis, it is not difficult to calculate your fee. Below is the current average fee as of writing this post calculated in dollars for easier comparison:

  • Next Block Fee: if you need to realize your transaction in the next block (which is 10 minutes by default). $2.58
  • 3 Blocks Fee: if you need to realize it in 3 blocks time (30 minutes). $2.37
  • 6 Blocks Fee: within 6 blocks (1 hour). $0.43

The fees in Electrum wallet can be further customized by going to “Tools — Preferences –Fees — Edit fees manually”.

You can choose what exactly you want to pay based on the urgency of your transaction. There is a helpful online resource you can use. Go to this page and choose an estimate of how many blocks your transaction may take to be confirmed versus different transaction fees.

At the moment, you would have to pay at least something like 21 satoshi per byte for a decent time.

References:

https://bitcoinfees.info/

http://bitcoinfees.21.co/

X11 is a mining algorithm which appeared in the mining community in 2014. The name originates from the fact that it takes 11 rounds of hashes to discover new blocks.

It is a relatively energy efficient way of mining, which at first allowed for both CPU and GPU to be used. When it first appeared, it enabled smaller miners to enter the race, preventing hard core ASICS hardware to take over.

However, X11 wasn’t ASICS resistant too long and when the DASH crypto-currency entered the scene,  X11 was ASICSed.

DASH

Website: dash.org

More info

PURA

Website: pura.one

More info

EQUITRADER (EQT)

Website: equitrader.co

More info

STARTCOIN (START)

Website: startcoin.org

Резултат слика за start coin

More info

Pioneer Coin (PCOIN)

Website: pioneercoin.com


Bitcointalk

More info

Bolivarcoin (BOLI)

Website: bolicoin.com

More info

ZSEcoin (ZSE)

Website:zsecoin.com

More info

SmartCoin (SMC)

Website: smartcoin.cc

More info

MonetaryUnit (MUE)

Website: monetaryunit.org

More info

Monkey Project (MONK)

Website: monkey.vision

More info

PizzaCoin (PIZZA)

Bitcointalk

More info

Digitalcoin (DGC)

Website: digitalcoin.org

More info

HomeBlockCoin (HBC)

Website: homeblockcoin.com

More info

Unitus (UIS)

Website: unitus.online

More info

Eryllium (ERY)

Website: eryllium.com

More info

Boolberry (BBR)

Website: boolberry.org

More info

Attention token of media (ATM)

Website: atmcoin.com

More info

I/O Coin (IOC)

Website: www.iocoin.io

More info

E-Dinar Coin

Website: edinarcoin.com

More info

BitSend (BSD)

Website: bitsend.info

More info

Syndicate (SYNX)

Website: syndicatehodlers.com

More info

PinkCoin (PINK)

Website: getstarted.with.pink

More info

HyperStake (HYP)

Website: hyperstake.io

More info

Memetic / PepeCoin (MEME)

Website: memetic.ai

More info

 

Ninjacoin (NJA)

Bitcointalk

EuropeCoin (ERC)

Website: europecoin.au.org

More info

When I was considering what would be a good cryptocurrency for my NVIDIA Pascal-based card, LUX popped out as one good possibility. In this post I am going to give you a short step-by-step guide into mining Luxcoin (LUX).

Luxcoin (LUX) is a promising new cryptocurrency with interesting features and from what I can tell a good team of developers. This is usually a good indication for me to step into it and try to mine it. Among the other features, LUX offers decentralization, Parallel Masternodes, and a “Static” model for staking (PoS).  Their PoS is referred to as “Proof of Stake 2”, which means that it allows rewards for staking no matter how many coins you have.

The algo is PHI1612 (combined PoW and PoS). This algorithm is arguably one of the most effective GPU algos for mining. It means that the GPU hash rates are high enough without too much power consumption. So your electricity bills won’t be too high. Moreover, PHI1612 is ASIC resistant.

LuxcoreThe Parallel Masternodes are built on SAM Protocol and i2pd Technology. This means that Lux’s security is substantially improved.

Luxcore also aims at releasing future updates with Segwit, LuxGate, and  smart contracts implemented.

Luxcoin Mining Guide For Nvidia GPUs

Let’s get right to it:

          1. Go download the wallet. This is the current release, 4.2.0. This will certainly change in the future, so check their website for a newer release. There are also Linux, and Mac wallets, as well as source code that you can compile yourself. Next, you should install the wallet and open it. Go to “File->Receiving Address”. A window like this will show up:Copy the address, you will have to paste it in your mining program configuration file. If the wallet wouldn’t connect to the network, you should update the wallet configuration file with active nodes you can find online.
          2. Now go and download a mining program. I’am using the ccminer-phi-anxmod release, which gives me a decent hashrate. You can also use ccminer 2.2.2 with PHI support, as people also suggest this is a fast mining software. Download ccminer and extract it into a directory of your choice.
          3. Edit the configuration file like this: 
            ccminer.exe -a phi -o stratum+tcp://eu2.bsod.pw:6667 -u LRzWdmsJ67sbXHeU1Shi64Pmk8ygFrRZqF -i 22 -p c=LUX -d 0 --cpu-priority=3
            pause
          4. Change “LRzWdmsJ67sbXHeU1Shi64Pmk8ygFrRZqF” into YOUR own receiving address that you copied in step 2.
          5. Change -i 22 into whatever intensity for your GPU you would like to have. More means faster, but at certain point your Graphic card will stop functioning. Leave it at auto if you are not sure.
          6. If you have several GUPs, the “-d” switch will help you choose what is the GPU you would like to use for LUX mining. Otherwise, if you have only one, you shouldn’t use this option.
          7. You can test whether or not “–cpu-priority=3” will give you more hashrate. If not, delete it from the configuration file.
          8. From the above you can see that I am using the bsod.pw mining pool. You can choose from several other mining pools (make sure to change the URL accordingly):
            https://www.unimining.net/
            https://pool.coin-miners.info/
            http://antminepool.com/
            https://altminer.net/
          9. If you are doing everything right you should see something like this: 
          10. Now, go to the mining pool website  and enter your wallet address to follow the statistics of what you earn. Happy mining!

 

What is the Roadmap of LUXcoin?

It remains to be see what the future of LUX is. At the moment, we can check the LUXCoin Github, to follow their progress in updates and development. If you check on Cryptomiso website, they are currently holding place number 69, with over 500 commits, which is promising. As for their roadmap, here it is:

LUXCoin Trading

LUXCoin didn’t do any ICO. Rather they did premining where they pre-mined 5% of the total supply. At the moment the only exchange LUXCoin is listed on is Cryptopia. This is good to know if you decide to trade your mined coins rather than HODL-ling them.

The Bottom Line

Before you spend time mining this coin, check out this coin calculator. Enter your hash rate and see, at least an estimate of what you are going to earn. The estimate is not very accurate, but you will get a good sense of what you can or can’t expect.

LUXCoin appears to be an ambitious project. Decide for yourself if it pays out for you to enter with your hardware power and support it and in the process earn some coins.

Additional info you can find in their whitepaper or you can learn more on their website, sub-Reddit, Github, Explorer, or Discord channel.

Disclaimer

Butka.me authors may or may not have a vested interest in any of the businesses and projects reviewed on this website. None of the posts and content on Butka.me is investment advice. No information given on Butka.me should be considered a replacement for advice from a certified financial planner.

Is it possible to use a decentralized platform to eliminate fraud in the Home Repair Industry?

Bob’s Repair company believes so.

Bob’s Repair is a company with the ultimate goal to eliminate fraudulent review in the home repair industry. This will be done via a decentralized website, where users can search the previous transactions of any worker or service and customers.

The campaign for raising funds is currently underway and if you hurry up you can join it right now on their website. Bob’s Repair is issuing special type of ERC-20 tokens, called BOB tokens. The company intends to share as much as 50 percent of their profit to token holders. To make sure that the value of the tokens increases over time, they will purchase BOB Tokens on the open market and burn them.

This concept will be a real-life application and use-case for the STEEM blockchain, which is a decentralized blockchain without any transaction costs and with ultra fast block times of merely 3 seconds!

How Does Using Blockchain Eliminate Review Fraud?

Bob’s Repair founders, Prandecki brothers, have extensive experience connecting consumers with contractors. Their company has served more than 55,000 consumers, generating more than $ 1,000,000 in revenues for their contractors.

Realizing that one of the most important problems of the nowadays home improvement industry is eliminating fraud and cheating as well as intermediaries, the founders of Bob’s Repair decided to use Blockchain technology.

This state of the art technology, as a decentralized platform, can be used to solve these problems, promoting transparency and a peace of mind to the customers when searching for contractors.

Smart Contracts

Smart contracts are a hot topics in the crypto industry right now. It is a computer logic that controls the transfer of digital currency directly, from one party to the other, only if certain terms are met. This enables fair play and ensure that guidelines are respected and punishments ensued if needed. Smart contracts also authorize commitment. They are super easy to use and require no brokers, thereby bringing confidence and transparency.

Without brokers, smart contracts help withhold payment on escrow automatically. These limitations are removed as stages of the project are completed. Moreover, the reviews of both the contractors and the customer are linked to the actual transaction via the future Bob’s Repair platform. This ensures that other people interested in similar services can trust that the reviews are genuine and unchanged.

Furthermore, this platform has no possibility of advertising by the contractors, thereby ensuring that no advertising costs are transferred back to the consumers. On the other hand, the decentralized blockchain with its function of upvoting, enables in a natural way for the contractors with the most positive reviews by real customers to have a more significant presence on the platform.

This is a win-win solution for both parties in this industry.

Video

Check the below video for more information on this project:

 

The Team

One of the most important component of a successful crypto-currency is the development team. Bob’s Repair seems to have a great team and a number of trusted advisors, including the support of John McAfee who believes in their vision of disruptive crypto-currency that will shake the world of Home Repairs.

Useful Links

Website: http://bobsrepair.com/

Whitepapper: http://bobsrepair.com/Whitepaper-summary.pdf

Bitcointalk profile link of contributor: https://bitcointalk.org/index.php?action=profile;u=1938519

Disclaimer

Butka.me authors may or may not have a vested interest in any of the businesses and projects reviewed on this website. None of the posts and content on Butka.me is investment advice. No information given on Butka.me should be considered a replacement for advice from a certified financial planner.

The original chain (Bitcoin) is created by Satoshi Nakamoto. Satoshi Nakamoto created Bitcoin in an attempt to help people get independent of the banking system and send and receive money without an intermediary. Bitcoin is fully decentralized in that respect.

Bitcoin cash is a hard fork of Bitcoin.

Yes, one can say bitcoin has a number of children, which in the lingo of cryptocurrencies are called forks. One of them is Bitcoin Cash. The others are for example, bitcoin gold, bitcoin diamond, super bitcoin, etc. Some Bitcoin hard forks use the term “Bitcoin” to their name (for marketing or ideological purposes), but there are other coins that don’t use the term “Bitcoin”, like litecoin (LTC).

So BitcoinCash(BCH) is just one of a number of breaks from the original bitcoin(BTC). Bitcoin cash was born on August 1, 2017. What BCH did is change only one parameter with respect to the original: the block size.

The creator of Bitcoin cash was Roger Ver. Since the inception, BCH has achieved a huge marketcap, right next to bitcoin. Had that not happen, it would likely have been left unnoticed.

The maximum block size limit in BTC is eight time larger than that of BTC. BTC uses 1 MB block size, while BCH uses 8 MB block size limit.

This type of irreversible change is what’s known as “Hard Fork” in contrast to a “Soft Fork”.

From that moment on, the original nodes of the bitcoin client don’t support the newly created BCH.

BCH is faster than BTC and some BCH lovers want to call it real Bitcoin. We believe this is not true, as hardly anything can replace the original BTC.

The increased maximum block size required people who wanted to run the so called “full node” on their computers to have specialized hardware. This would essentially mean that only miners and businesses with specialized hardware would be able to keep the full node locally.

The original bitcoin stuck with the original vision to enable all users who are willing to run a full node on their computers to do so.

This insisting on the full node capabilities is important because it is what validates all transactions and the whole chain. It is in line with the original idea of decentralization. As a consequence, most of BCH is in the hands of miners.

Eventually, you would have to judge for yourself. Learn the facts, investigate and don’t listen to people who would like you to believe in their stories. Some cryptocurrencies have strong marketing teams, which is great, but marketing alone is not enough for success.

Bitcoin Cash is being marketed as having fast transactions that cost much less than those of bitcoin. But then again, the number of transactions of BCH hasn’t reached the number of transactions of bitcoin.

What did bitcoin do to speed up their transactions? They introduced a soft fork called “Segwit”, and an off-chain solution called the “lighting network(LN)”.

You should also check the development side of the coins. It seems that the core developers of BCH would have problems keeping up with the huge base that bitcoin development team has.

All things considered, bcash is just another coin in the vast sea of altcoins. That said, I see nothing wrong keeping your bcash if you have some. As long as you know that bitcoin is the original.

At the end of the day, if I could choose, I would always go for bitcoin over bcash. Unless there is some chance to do a fast pump and dump scheme, in which case BCH is equally as valuable as any other altcoin. As a long term strategy I would always choose BTC.

Summary

As far as technology is concerned, BCH is equal to BTC minus Segwit minus LN.

As far as the speed of transactions is concerned, BCH is faster than BTC.

As far as the number of transactions are concerned BCH is better equipped than BTC. Bitcoin with its one megabyte chain size limit can allow only about 250,00 transactions in one day. Bitcoin cash with its eight megabyte chain size can manage as many as 2,000,000 transactions per day.

As far as community is concerned, BCH has smaller community than BTC.

If you own both BTC and BCH, be careful not to send bitcoin cash to bitcoin addresses and the other way around. They are now different systems with different wallets, and you may lose your money if you do so. Always double-check what wallet you are using, and to what address you are sending your cash!

If you are wondering how much bandwidth your network need for mining cryptocurrency, here’s the answer:

NOT MUCH!

The speed of the network won’t affect the mining rate. If you have a modern computer you can forget about this issue. Regardless of what protocol mining bandwidth you use, stratum, GBT or another one.You will need only a minimal bandwidth for mining bitcoin and similar coins.

Of course, the above is primarily true for POOL mining. If you solo mine, you will have to run the full node. For example, on my Windows 7 I use something like 30 Mb per day of download, and 10 Mb per day of upload. Solo mining would be more intense in terms of traffic.

The Octothorpe (#, number) symbol in Python represents comments. They are an important part of your programs. In principle, you can quickly disable parts of your programs that you don’t want to delete just yet. The other useful thing is you can use commenting to describe the functioning of the program in easily understandable English words.

# I could describe the purpose of my program here. It would be easier for me to know 
# what it does at a later time.
# Things that follow the # sign are ignored by the python interpreter.

print "Hello World!" # anything before the # sign will run, anything after won't.

# If I wanted to disable a python print command it would be like this:
# print "This is a disabled print command and it wont run."

print "Another command that will run."

Let’s see what the result of the above program will be. You may try it in your Python IDE, or even online, like here. The result will be:

Hello World!
Another command that will run. 

I hope you now know what the Octothorpe (#, number) symbol is being used in Python for. Don’t be lazy, use it often throughout your code, so you will have easier time navigating through your code later.

The question is how you can bypass your phone’s WiFi and connect your phone to the Internet via your PC, that is using the USB cable.

It is possible, and it is called reverse Tethering, as opposed to using your phone’s WiFi internet to obtain internet connection for you PC (which is then called normal tethering).

This instruction should work for any phone with Android operating system, but specifically I managed to do it for my Xiaomi Redmi 4X phone.

The reason why this was important in my case is the fact that their official MiPCSuite, which should be used for connecting to the Internet among other things, wouldn’t work with their new Redmi Phones and with my Redmi 4X as well. Their last update is dated 03.07.2015. That means that all newer phones with newer operating systems won’t be able to use Mi PC Suite.

So here we go:

  1. If you haven’t done so, you have to switch on USB debugging. Navigate to Settings —> About Home. Find MIUI version field. Touch it 7 times in a row. This will enable Developer Options.
  2. Go to Settings —> Additional Settings —> Developer Options —> USB debugging and enable it.
  3. Install Reverse Tethering Server from this page by downloading the Windows Zip file. (Note that your computer should have at least Java Runtime Environment 1.7 installed, which on my Windows 7 was already there.) In fact, when you download the Server, there is nothing to install, just unzip the file and start the exe file called in the current version ReverseTetheringServer_1.1.2.exe. When you start the server nothing will happen, no visual confirmation, except the fact that the server is active and will accept connections from your phone.
  4. On your phone, install the ReverseTethering NoRoot app. One usually uses Google Play to do that.
  5. Plug your phone with the USB cable. Start the app and connect to the server.
  6. That’s it. You can now use the newly established internet connection.

If you have a mirrorless camera, and you want to shoot professionally with it, there is a way to do that. At least if you one of the own the perfect palm-sized full-frame SLR Sony cameras (Sony A7). Combining this exciting compact 24.3 MP, 35 mm sensor with a powerful lens? Why not!

The solution is to use the Sony LA-EA4 mount FF Lens Adapter.

If you have used the Sony Alpha 7 before, you know that it can exceed your expectation. But their lens system is not nearly that good. And, more often than not, the lens holds the key to great photography. Bodies come and go, but great lenses remain.

And Sony should learn the lesson and produce some good lenses. In the meantime, to bridge the gap, there is the

LA-EA4 A-Mount to E-Mount Adapter

The adapter is not perfect, but it will do the job. Here are its features:

  • 15-point AF system (3 cross sensors). 
  • Continuous and Single-shot AF Modes
  • With this Adapter you can attach Alpha A-mount lenses to the E-mount full frame or the camera body. You can enjoy continuous full-time Phase Detection AF.
  • It comes with a TTL phase detection system. 
  • It weighs 0.66 pounds.

All in all

If you need a handy adapter that enables you to plug in a huge number of quality Sony A mount and Minolta lenses, LA EA 4 is worth considering. The pros are its lightweight construction and nice look. Suitable for cameras with E or FE mount, like Sony A7 and Sony A 6000. And you don’t have to give up using automatic focus.

The downsides are you won’t have eye focus and AF assist light with it. It can be a little bit slow for the standard of today’s photography. Also, it seems that the built in translucent mirror cuts down light (the manufacturer claims about one third of an f stop). This is not a problem if the day is bright, but if you shoot inside it might be.

This adapter is not very cheap, but for what it offers, it is worth the price. You will be fully compatible with your A mount lenses.