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ghosTTy
Sep 22, 2008

"Altcoin" is a combination of two words: "alt" and "coin"; alt signifying 'alternative' and coin signifying (in essence) 'cryptocurrency.' Thus together they imply a category of cryptocurrency that is alternative to the digital currency Bitcoin.

Some examples of good altcoins:


https://www.iota.org/
https://qubic.iota.org/



Please no unnecessary fud, trolling, etc. That's what got this thread shut down last time. I will be moderating this thread with a heavy hand

ghosTTy fucked around with this message at 10:38 on Aug 6, 2018

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ghosTTy
Sep 22, 2008

Some terms you should familiarize yourself with

FUD - fear, uncertainty, and doubt
Bankster - a person working for or supporting the traditional banking system
Fudster - a person who spreads fud for no reason
Nocoiner - someone who doesn't own any cryptocurrency, not all bad people, usually just naive people

ghosTTy
Sep 22, 2008

GoGoGadgetChris posted:

I bought $1,000 of Bitcoin, Ethereum, and Litecoin in January 2018 and it's only worth $420 now!

A lot of my peers are laughing at me and don't think I'm actually going to the moon.

Advice on what to do?

I'm very sentimental about the crypto market, if you don't need the money I would advise you just hold onto it and forget about it for a few years. Also, litecoin is pretty bad and will never be worth anything. The creator is a market manipulator and an all around scumbag. Trade it for a good altcoin like IOTA

ghosTTy
Sep 22, 2008

This is the website everyone uses to trade altcoins

https://www.binance.com/

If it's not on there it's probably on

https://www.cryptopia.co.nz/Exchange

ghosTTy
Sep 22, 2008

Right now is a really good time to buy. In the industry we call this "buying the dip" because the market has bottomed out and likely won't go anywhere but up. There's a chance it could fall further but at this point it's negligible.

ghosTTy
Sep 22, 2008

quote:

Tangle qubics (once qubic goes live) will rely on a single quorum, or a group of quorums to perform a computation.

Ethereum smart contracts rely on every machine processing every transaction.

The ethereum network has a hidden flaw. Blocksize. The ethereum network has a gas limit rather than a block size. The ethereum network is composed of light nodes and full nodes. However with an unbounded blocksize, the network latency requirements to actually run a full node go up. And network latency does not obey moore's law. What this means is that as the number of people who run full nodes goes down the ethereum network becomes more centralized.

Ethereum could fix this issue by implementing a maximum blocksize much like bitcoin has. However if Eth were to implement a blocksize, that would cause the cost of getting your data into the next block to skyrocket and dapps like cryptokitties would die. Eth is then forced into one of two boxes as they approach the limit of network latency: Sacrifice decentralization OR give up on the ethereum dream of dapps.

The ideal way contracts are trusted on ETH is for every machine to run every transaction. Now, it's not ideal because in ETH's case, there are a vast host of light clients that TRUST the full nodes. In essence, the full nodes on ETH are acting in unison as a single massive qubic quorum, while the light nodes are acting as the ones who benefit from that quorum. The results of that massive eth quorum are being stored on the ETH blockchain.

If iota were to perform computation like eth does it would be the equivalent of inserting code execution into the bundling stage of making an iota transaction. That would be crazy. It would make validating the transactions take forever, and it would be slow or expensive. (gas costs begin to ring a bell here)

What iota could do with qubic is to have the smart contract source code and current state be stored on the tangle, and then when somebody wants to execute the smart contract, a randomized large quorum is formed for that one instance of executing the smart contract. The state is loaded from the tangle to the quorum (as well as the source code) and the quorum executes the smart contract and writes the state back to the tangle.

In essence the person who wants the smart contract executed is paying the quorum to execute the smart contract with their data on behalf of the network.

This neatly sidesteps the blocksize problem that is plaguing ETH.

an interesting point, something to consider

ghosTTy
Sep 22, 2008



smdh greedsters


Old Story posted:

I'm a rube with more cash than smarts and was thinking about buying say $1000 of various crypto whatever and then not looking at it for like 5 years.

I fully expect that I will lose all my money but it's not that much to me and it would be sort of a fun hail-mary. What should I buy and uhhh how, because I have never paid attention to any of this poo poo. Sorry for asking basic advice in what appears to be some sort of speculation thread.

iota, eth, or btc

ghosTTy
Sep 22, 2008

IOTAs collaboration with Diary cooperative TINE featured in one Norway’s largest neswpaper. Headline: Cows will be earning cryptocurrency from selling their data

https://www.dn.no/avisen/DN%202018-06-16/24

ghosTTy
Sep 22, 2008

Old Story posted:

One of the founders has a blog where he claims he built the pyramids using a time machine, I can't tell if it's a joke.

ghosTTy
Sep 22, 2008

don't come into my altcoin thread and fud iota :fuckoff:

ghosTTy
Sep 22, 2008

ghosTTy
Sep 22, 2008

https://www.coindesk.com/factom-blockchain-project-wins-grant-to-protect-us-border-patrol-data/

ghosTTy
Sep 22, 2008

lets focus on the tech please, thank you

ghosTTy
Sep 22, 2008

ghosTTy
Sep 22, 2008

Weatherman posted:

FUD = Facts U Dislike

Has anyone said "craptocurrency" yet?

few people post facts about IOTA, there are legit criticisms out there but DCI MIT scandal, founders having a sense of humour, etc. are not them.

CFB posted:

The longest chain wins — this is the rule used by blockchain-based cryptocurrencies to achieve consensus. “Longest chain” is an oversimplified term, strictly speaking it should be “Chain with the highest cumulative difficulty” but this nuance is not important now, we just tell that in theory a consensus on the state of a cryptocurrency ledger is supposed to be achieved by following math rules. 9 years of the history of the current generation of cryptocurrencies showed that in practice it’s other rules which ultimately determine the outcome and these rules are based on economic laws.

Value overflow incident (https://en.bitcoin.it/wiki/Value_overflow_incident) and Fork 2013 (https://freedom-to-tinker.com/2015/07/28/analyzing-the-2013-bitcoin-fork-centralized-decision-making-saved-the-day/) in Bitcoin, DAO fork (https://www.coindesk.com/ethereum-executes-blockchain-hard-fork-return-dao-investor-funds/) in Ethereum and other incidents showed that whenever math rules and economic laws conflict to each other the latter always win. And if so, we should stop pretending that “Longest chain wins” rule is enough for the real (and imperfect) world. We should analyze the history (of cryptocurrencies and not only of them), derive the rules not conflicting with economic laws and start using these rules. Or accept that decentralized cryptocurrencies can’t be used on a large scale.

Economic clustering (EC) is the name of a hypothesis created by me in 2013 during the development of Nxt (https://en.wikipedia.org/wiki/Nxt), the hypothesis creation was triggered by Economic majority post of Meni Rosenfeld (https://bitcoin.stackexchange.com/questions/3945/how-could-the-bitcoin-protocol-be-changed-has-this-ever-occurred#comment4983_3948). EC hypothesis states that the ledger state of a cryptocurrency is determined by the participants of the economic cluster who try to maximize their wealth even if breaking “Longest chain wins” rule is required.

Now, 5 years later, it’s even more apparent that EC is true and important for every cryptocurrency which aims for the world-wide adoption. IOTA relies on EC to enable infinite scalability, the Tangle allows doing that in a seamless manner, a blockchain-based solution would require a band-aid.

So how IOTA may look in a few years when EC is deployed to the mainnet? I envision the following picture.

There is Cluster 0. It consists of nodes interacting via the Internet, main economic cluster actors - big companies - run special software playing the role of a distributed Coordinator. This software does only one thing — it signals that a particular actor has seen certain transactions and will accept them as legitimate ones with some probability. There are thousands of other clusters formed by nodes interacting via the Internet-of-Things. Some of them are connected to Cluster 0 directly. A single cluster can be a group of devices in a building, in a park, in a town, or even on a stretch of road. The structure depends on economic activity in an area. A single cluster is connected to several other clusters, mainly adjacent ones (in spatial meaning). Each cluster processes its own transactions and transactions of the neighbor clusters, all the other transactions are ignored because they simply don’t reach the cluster.

This picture leads to the following consequences (not applicable to Cluster 0).

It’s impossible to send iotas to someone in a distant cluster unless someone else offers a special exchange service between the clusters (and charges fees), the payment must do several hops from cluster to cluster. It’s the price to pay for the scalability.

Your iotas must repeat your itinerary during a long trip. While your car goes from one cluster to another you need to spend the iotas back to yourself periodically.

Iotas can be created out of thin air. A cluster may emerge and offer some services, the nodes of this cluster can “print” iotas and implicitly/explicitly promise to accept them later in exchange for their services. The “counterfeit” iotas will likely not be accepted by the other clusters unless the new cluster is very significant from economic point of view. Anyway, in this case it could just create its own cryptocurrency.

Iotas can disappear. If you haven’t been touching your wallet for a long time then there may be very few nodes remembering your balance left. This is not a serious problem if inflow rate of new nodes is low or if you refresh the balance often (by spending the iotas back to yourself).

As was said, this is for IoT-based IOTA, keep your iotas in Cluster 0 if the mentioned consequences make you feel uncomfortable.

The picture drawn by me may actually be different when EC comes to the mainnet. Keep this in mind.

Cluster 1, the Swedish E-krona...

ghosTTy fucked around with this message at 12:28 on Jun 19, 2018

ghosTTy
Sep 22, 2008

ghosTTy
Sep 22, 2008

uncle jim on fox http://video.foxbusiness.com/v/5799677012001/?playlist_id=3166411554001#sp=show-clips



SATELLITE NETWORK In partnership with Vector Space Systems (Vector), Nexus will provide global access to its digital currency and autonomous Internet infrastructure using Vector’s Galactic Sky software-defined platform in a Low Earth Orbit (LEO) satellite network. Nexus intends to build both ground and space-based mesh networks to host a variety of distributed applications and services. This advanced technology will bring affordable access to a global information network for all. DISTRIBUTED HARDWARE Nexus will be launching blockchain into orbit, bringing the dream of total decentralization closer to reality. A Nexus satellite network will complement existing infrastructure, extending Nexus’s reach around the globe and will reduce reliance on centralized networks. With each satellite acting as a full node, it will incentivize individuals and organizations to participate and ultimately enabling a true decentralized infrastructure. APPLICATION PLATFORM Satellites will operate as nodes of the Nexus blockchain, forming part of the smart contract platform. A space-based platform offers greater redundancy and security for decentralized applications since satellites are resistant to regulation or control by government and corporate entities. Eventually, third-party applications can be hosted on satellites directly and take advantage of the Nexus network. This business model will support the sustainability of the network and provide satellite owners with additional revenue potential. OPEN INTERNET ACCESS The Nexus satellite network will aim to bridge the gap between existing networks and areas lacking infrastructure, by working to provide reliable and affordable Internet access around the world. Revenue generated by the network’s commercial applications and blockchain model will pay for the maintenance and operation of the network, lowering costs for the end user. Specialized ground stations will allow uncensored access to the satellite network and will be publicly available for purchase. VECTOR SPACE SYSTEMS Vector Space Systems is an innovative leader in the nanosatellite sector and was established to develop affordable launch capabilities and in-orbit platforms. Vector co-founder and CEO Jim Cantrell was part of the founding team of Elon Musk’s SpaceX as well as Moon Express, the first private company to attempt a moon landing. Larger companies like SpaceX focus on launching mid to large-size satellites into geosynchronous orbit (GEO), but Vector is providing affordable launches by engineering smaller reusable rockets. Nexus will purchase rockets and use the spare capacity of other launches when possible. Our partnership with Vector allows their clients to pay for launches using NXS. ORBITAL MESH NETWORK Nexus will lease satellites from Galactic Sky starting in 2018 at a discounted rate in return for testing the platform. These satellites will store blockchain signature data and will operate as full staking nodes, greatly enhancing the reliability and performance of the network. Over 2019, Nexus aims to deploy community-owned cubesats to create its own constellation. Once our hardware designs are finalized and open source, individuals will be able to add their own satellites to the network pool and profit from their space capacity. The constellation will also be available to other developers to host their own software applications and provide data storage. The Nexus orbital mesh network will consist of a range of cubesats from the sub-1U to the larger 3U satellites in LEO, each orbiting the Earth approximately every 90 minutes. Phillip Swazey who worked with Iridium, a satellite communication company that has a constellation of 72 satellites in GEO, is currently designing the preliminary 1U satellite for Phase 1 deployment. The orbital mesh network will be designed in two layers: a relay layer and an outer processing and storage layer. Initially, relay cubesats will symbiotically communicate with ground mesh hardware by hand radio frequencies UHF and VHF, which are much easier to obtain FCC licenses for, supplying adequate bandwidth to support transactions and other services. In the future Nexus cubesats will communicate on S-band, a wifi range that is capable of transferring much more data. GROUND MESH NETWORK By building a supporting ground mesh network, Nexus will create global coverage without having the latency issues experienced by most satellite providers. We estimate that a constellation of 300 cubesats will be required to provide full ground coverage. Nexus envisions thousands of cubesats in LEO by 2025. The ground-based mesh network will help scale and balance data transmission between ground and orbital nodes so that satellite access is not necessary at all times. Individually-owned client devices like cell phones and computers will connect to receiving devices such as satellite dishes which will communicate with the cubesats. This connectivity will increase speed and efficiency and create ad hoc networks that do not rely on gatekeeping hardware or a central access point such as a router, serving to make the Nexus network even more distributed. We are currently designing hardware and software for ground devices and once the designs are finalized, they will be open source.




ghosTTy fucked around with this message at 16:00 on Jun 20, 2018

ghosTTy
Sep 22, 2008

thinking of trading my Monero stack for NXS :hchatter:

ghosTTy
Sep 22, 2008

omg this is so boring, my portfolio has been at the same value for weeks. Is crypto no longer volatile? I guess it's good for adoption

ghosTTy fucked around with this message at 16:23 on Jun 21, 2018

ghosTTy
Sep 22, 2008

https://www.youtube.com/watch?v=CK1s3FTU03Y

not much going on these days, feeling pretty depressed. this is the most exciting crypto news story i could find today :smithfrog:

ghosTTy
Sep 22, 2008

:unsmith:

ghosTTy
Sep 22, 2008

ghosTTy
Sep 22, 2008

i'm done gently caress all of tihs. just sold everything. waiting for the real dip now

ghosTTy
Sep 22, 2008

iota at 97 cents, just untethered, increased stack by 20%. might go down a bit further but idc, fools game to try to time the perfect bottom. successful trading week :clint: :cool:

ghosTTy
Sep 22, 2008



https://toshitimes.com/nobel-prize-winning-economist-robert-shiller-calls-bitcoin-a-social-movement/

ghosTTy
Sep 22, 2008

https://ethereumworldnews.com/volkswagen-iota-employees-2018/ :blastu: nocoiners

ghosTTy
Sep 22, 2008

Mainstream sites rarely report on altcoins because they have a bad rep, and they're mostly east coasters (where the fed is, coincidence??) so they're adamant nocoiners.

ghosTTy
Sep 22, 2008

UCS Hellmaker posted:

https://twitter.com/ButtCoin/status/1013101265474252800

So Iota is taking money from peoples wallets and making you reclaim them somehow and lmfao I cant say this with a straight face.

Ghostty so tell me IS THIS GOOD FOR IOTA?

:pwn:

ghosTTy
Sep 22, 2008

it's not a big deal, they just brute forced some wallets with weak seeds to save the contents from any malicious actors. seems like a nice thing to do considering they weren't obligated to do this. not like they had a backdoor into wallets or anything like that stupid bitch would lead you to believe (she's working on a competing project, typical iota fud)

ghosTTy
Sep 22, 2008

it's funny seeing the way nocoiners think, it's very obvious you're technologically illiterate

ghosTTy
Sep 22, 2008



10 yrs from now - why didn't i listen to ghostte

ghosTTy
Sep 22, 2008

NEO去中心化时代的开启

https://neo.org/blog/details/4089

ghosTTy fucked around with this message at 04:02 on Jul 5, 2018

ghosTTy
Sep 22, 2008



made this phone background if anyone wants

ghosTTy
Sep 22, 2008

Ok, bro

ghosTTy
Sep 22, 2008

not sure if i'm supposed to be insulted being called a gimmick? people here seem to use the word in place of personality, or something. gimmick implies to me some kind of deceit is taking place, am i not to be trusted because i enjoy having fun with my investments and making memes?

ghosTTy
Sep 22, 2008

If you're serious about making big money, you'd take me seriously.

Crypto market going to hit one more low and then bull

ghosTTy
Sep 22, 2008



I think I'm going to trade my Factom for something else, it's become clear they're building a SaaS platform and there won't be an incentive for the use of FCT and energy credits other than as a test platform, which explains why EC usage has remained so low despite all the rumours of fortune 100 clients. Might be something worth looking into if Factom inc. go public, though? :hmmm:

Maybe trade for more NEO? I think it should be a higher % of my port. The gas income is nice for long term hodlers :hchatter:

Currently

ghosTTy fucked around with this message at 01:02 on Jul 8, 2018

ghosTTy
Sep 22, 2008

https://blog.iota.org/green-light-from-the-eu-commission-for-iota-and-the-european-smart-city-consortium-cityxchange-f7928aef33ac

ghosTTy
Sep 22, 2008

UCS Hellmaker posted:

Do you speak any real language or just stupid?

Also those are dicks

turn on your monitor

AARO posted:

I bought iota before it was even listed on the exchanges. It was 15 cents then. Sold it at 60 cents. No regrets.

selling iota LOL



this guy much?

ghosTTy fucked around with this message at 12:37 on Jul 8, 2018

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ghosTTy
Sep 22, 2008



lol just imaging there being a crypto bull run two years in a row and all the nocoiners sitting on the sidelines booing, while actually paying closer attention to it than most coiners, not making any money from their effort, missing out on our generations dot com boom / real estate bubble / everything financial revolution, and looking like technophobe charlatan fools :cawg: :black101: :xd:

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