Will quantum computers be a Kryptonite for Bitcoin

Cryptocurrency NEO-review and analysis of prospects

Cryptocurrency NEO-review and analysis of prospects

https://preview.redd.it/92i8bo3tm1v31.png?width=800&format=png&auto=webp&s=392f964144975e5e2e11a6ea784f6f03923017b3
The NEO digital asset platform was previously called Antshares. But in recent times, a complete rebranding has been made. In addition to the name change, the startup updated blockchain nodes and technical documentation, as well as the stock Ticker. In addition, the official website and social media were redesigned. The transition to a new version of the smart contract system, called NEO-2.0, was carried out.
The NEO cryptocurrency has been showing stable and non-stopping growth for a long time. Very quickly, the Chinese creation took seventh place in the top of Coinmarketcap. This, without a doubt, is a serious bid for prospects, given the high competition in the cryptocurrency market. And Ether confidently holds the second line after the famous Bitcoin. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
At the moment, the price fluctuates around $45. The cost for three months has increased 20 times.
The volumes of neo cryptocurrency reserves are clearly defined and limited to 100 million tokens. So far, only half of the available potential — 50 million tokens-is available on the market. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
The project is actively developing. OnChain cooperates with other players in the field of cryptocurrency and blockchain technologies. At the moment, there are connections with blockchain startups Coindash, Bancor, Agrello and others. The Chinese project Red Pulse has announced the creation of a financial research platform based on the NEO-2.0 smart contract system. Also, in cooperation with NEO, there is an intensive development of The Elastos operating system based on blockchain technologies.

THE history of the emergence and development of neo cryptocurrency

https://preview.redd.it/2f7c6ryop1v31.png?width=1280&format=png&auto=webp&s=300b03be2a471d857d7d22d5659f2a4ef74c5e8b
The date of origin of the project can be considered 2014. NEO Creator Da Hongfei is a Director of Shanghai-based OnChain. In 2014, onchain, according to Da Hongfei's idea, launches the AntShares blockchain project. On the basis of this platform, a cryptocurrency of the same name was also created.
Yes Junpei put to the company is simple, but a global problem. His goal was to build a fundamentally new system of financial interaction. This system should unite the sectors of the real and virtual economy into a single whole with the help of high-tech contracts. And cryptocurrency from OnChain should become a unit of payment for these contracts.
Soon OnChain enters into a contract for cooperation with the Wings blockchain project, as well as contracts with economic giants Microsoft and Alibaba.
In August 2017 begins the story of NEO already in its current form with the current name. Da Hongfei carried out a complete rebranding and technical modernization of the project. The rebranding was a huge success, and the price of cryptocurrency from OnChain soared 40 times.
But not without problems. On the fourth of September, the Chinese authorities adopt a package of sanctions laws against cryptocurrencies and ICO. It was a heavy blow, which at the time almost 2 times brought down the course of the brainchild of Hongfei. However, soon the NEO cryptocurrency moved away from the blow and began to confidently win back the lost positions. At the moment, OnChain is actively upgrading the product and simultaneously trying to find a compromise with the Chinese authorities for the legalization and quiet operation of its offspring.

Features and principle of operation NEO

https://preview.redd.it/tj1goppoq1v31.png?width=800&format=png&auto=webp&s=0c39d14754ba9dd99e2c6bfb692f0f7bdd6c1838
From a technical point of view, the Chinese cryptocurrency is very similar to Ethereum. The basis of the platform is the construction of smart contracts and their subsequent payment with tokens. Also an important part of the project is the ability to create new technologies based on the platform, as well as easy integration with other services.
Despite the fact that NEO is often called "Chinese Ether" and the fact that the Ether still occupies a higher position in the ratings, the product from OnChain has advantages that the Ether lacks. NEO is much more practical and functional. This, no doubt, opens up the potential to move the Airwaves in the ratings in the near future.
Let's see in detail how everything works. Transactions within the system are possible when paying a Commission. The Commission is paid in-system currency. That is, for the transaction you have to throw in the system additional "fuel". The developers of OnChain decided to create an additional in-system currency, called GAS, as a fuel (a means of paying commissions).
NEO mining is impossible. There is a final coin value of 100 million. 50 million thrown on the market during the ICO. The second half of the developers keep at home. However, GAS mining is possible. However, it occurs when holding coins in a purse. That is, the more tokens you have, the more GAS coins you can get to pay commissions. Today, 2000 coins in the wallet accumulate 1 coin GAS every twenty-four hours. Such mining is associated with the work of the network on the Proof-Of-Stake algorithm. Coins generate themselves. Without the use of farms of video cards and megawatts of electricity.

Like any cryptocurrency, NEO has advantages and disadvantages.
The benefits of NEO:
  • the publicity of the company and experienced team;
  • contracts and cooperation with corporate giants;
  • a wide functionality, much superior to the functionality of Ether (it is difficult for a simple person to understand what the salt is, but for a specialist NEO opens the widest horizons for development and operations);
  • activity in meetings and seminars;
  • active struggle of OnChain for legalization (although there are some problems with this now in China, however, there is a high probability that soon all issues with the government will be settled, which will attract large investors and significantly increase the already considerable capitalization of NEO).
The shortcomings of NEO:
  • all gas storage nodes belong to OnChain, that is, NEO is a centralized structure, although it is served as decentralized, this means that blockchains are in the hands of a narrow circle;
  • OnChain has the technical ability to monitor the transactions of coin owners, transmit information to the authorities, as well as personally block funds in users ' accounts and regulate the rate.
However, there are great economic and technical prospects for the development and increase in the price of the coin.

Difference between NEO and Bitcoin

https://preview.redd.it/qm9q0kmft1v31.png?width=1024&format=png&auto=webp&s=81bc03a4521b12f6e517b9ef8f905d8271041355
The main points that distinguish NEO from Bitcoin:

  • Direct mining of NEO is not feasible, you can only mine GAS to pay commissions.
  • Bitcoin mining depends on the power of the technical base of the miner. The larger the pool of farms from video cards, the more active is the production. In the NEO system, gas mining occurs exclusively due to the presence of coins in the wallet.
  • To organize a large Bitcoin mining requires large purchases of iron and organization of production (supply of high-power power supply line, cooling system, etc.). A direct injection of investment is sufficient for the development of GAS. Each purchased 2000 coins of "Chinese ether" will steadily accumulate exactly 1 coin of GAS per day.
  • Bitcoin has the most decentralized system of blockchains, as opposed to pseudo-centralization of NEO.
  • The processing speed of one NEO block is only 15 seconds. For bitcoin-as much as ten minutes. In the future, it is predicted to accelerate the processing of blocks for NEO to 1 second.
Despite the risks associated with the organization of blockchains, NEO remains a very promising platform in the cryptocurrency market.

NEO storage wallets

On the official NEO website you can find links to the following wallets.
  1. Wallet NEON-Wallet from the group of independent developers City of Zion. Quite good, but the factor of third-party development and the presence of bugs impose their risks.
  2. NEO-CLI. This wallet is recommended only for programmers and people who are good at command line.
  3. NEO-GUI. The best option for the average user. To use it, you need to download the application, synchronize the blockchains and make a backup of the wallet. All. Now you can safely carry out financial transactions using Chinese kryptonite.
There is also the option of storing directly on the exchanges, however it is risky. Also, holding coins on an exchange rather than in a personal NEO wallet will not generate GAS.

NEO: buying and sharing

https://preview.redd.it/5ovlowr3v1v31.png?width=750&format=png&auto=webp&s=ea4c20d0be463cbaaf14846db2355b77975cd296
NEO can be bought and sold on exchanges or exchanged in multi-currency wallets. The most famous exchanges:

  • Bittrex;
  • Binance;
  • CoinSpot;
  • YONBI;
  • JUBI;
  • Yuanbao;
  • 51szzc;
  • Yobtc.
As the value and popularity of NEO increases, a massive increase in trading platforms where you can buy or sell "Chinese Ether" is predicted.

Ways to get NEO

Unfortunately, at the moment there is no way FOR direct NEO mining in the manner of Bitcoins and Ether.
However, there is a way out. NEO cranes can be used. Cranes are resources where the user receives a cryptocurrency reward for performing certain tasks or participating in lotteries.
There is a high probability that if successful in the legalization negotiations, OneChain will provide additional ways to get their tokens.
As you can see, NEO is a very promising and rapidly developing cryptocurrency. And although the Chinese government has created some difficulties, on the example of Bitcoin, we see how high the rate of the crypto currency can rise if the factors interfering with the development disappear. So, the prospects of NEO are optimistic and you can risk investing in them.
submitted by AVAY11 to u/AVAY11 [link] [comments]

The Forbidden Truth: Nodes can loosen their consensus rulesets (e.g., increase their block size limits) without asking for permission or waiting for "consensus." [More censorship on the bitcoin-dev list]

Tom Zander began an interesting discussion on the Bitcoin-Dev mailing list when he announced the release of Bitcoin Classic 1.2.0. There was debate that such an announcement was inappropriate, arguing that because new Classic nodes would immediately begin accepting blocks larger than 1 MB, that Classic was incompatible with Bitcoin [which is untrue].
Although discussion is still taking place on that email thread, as usual my email was rejected. Here is what I wrote:
What many people forget is that common nodes can enforce a (strictly) looser rule set than mining nodes, and still be guaranteed to track consensus. We use this often-overlooked fact to our advantage when rolling out soft forks: after the miners begin enforcing a new rule, non-upgraded common nodes will be enforcing a looser rule set until they upgrade. We know from experience that this situation—where some nodes enforce less rules than the mining majority—is both safe and a practical way to reduce the coordination required to implement protocol upgrades.
Classic (and Unlimited) are using this fact that common nodes can enforce a looser rule set to reduce the coordination required for a future increase in MAX_BLOCK_SIZE. It is a commitment strategy that allows node operators to signal their preferences to the network. As more and more node operators stop enforcing the 1 MB limit, it will gradually become much less risky for miners to try mining a block larger than 1 MB to see if it is accepted into the Blockchain.
For the market for consensus to function properly and allow Bitcoin to grow, node operators are encouraged to stop enforcing any rule they believe is hindering Bitcoin. They don’t need to ask for permission or wait for “consensus." If enough node operators feel the same way, then that rule will no longer be a rule.
Best regards, Peter
Incidentally, I've tried to post on this topic twice before and both emails were also rejected. See here and here.
Blockstream/Core knows that their control over the network relies on perpetuating the false notion that it is "unsafe" for node operators to take matters into their own hands when it comes to consensus parameters. The fact that node operators can independently elect to stop enforcing any rule is kryptonite to the small-block narrative, and so they need to fool us into believing that Bitcoin is fragile and that nodes cannot deviate from their "consensus." They ostracize community members who express their individual preferences (unless of course they happen to align with those of Blockstream/Core) even though it is critical for members of a decentralized network like Bitcoin to communicate their genuine preferences in order to evolve.
What is so frightening to Blockstream/Core is their knowledge that Coinbase/BitPay/BitStamp/Xapo/etc could announce tomorrow that "EFFECTIVE IMMEDIATELY: OUR NODES NOW ACCEPT UP TO 8MB BLOCKS" without any significant risk. In fact, this would be a great act of leadership, precipitating other nodes to fall inline and increase their block size limits as well. Eventually, it would be clear as day that the 1 MB restriction on the size of blocks is no longer important. Miners would be free to produce bigger blocks, allowing Bitcoin to break free from its three-transactions-per-second shackles.
Here is a great article on this topic that deserved more attention: https://medium.com/@Mengerian/the-market-for-consensus-203de92ed844#.u3nq04k5e
submitted by Peter__R to btc [link] [comments]

Rebuttal to Roger Ver's points made on Mad Bitcoins interview (And partial transcript)

Here are some of the items Roger said that I found interesting and/or worthy of debate and also some quick responses. All in all I think this was a much better presentation of his argument (though still flawed IMO). I took the time to transcribe some of his statements (There may be errors, memorydealers I would be happy to correct anything I quoted that is wrong)
I left my responses purposefully brief. I am hoping others can add details or extend them to further prove or disprove any statement (including stuff I wrote that's wrong or that you disagree with). I am hoping that someone from core goes on with Mad Bitcoins tomorrow night.
https://www.youtube.com/watch?v=XpOnolf1tS8
@3:00 "So anybody that thinks that high fees, and slow confirmations and full blocks are a good thing for bitcoin, they are plain and simple wrong and they don't understand the things that make bitcoin useful as money."
@3:14 "And people talk about, well bitcoin is a store of value. Well the only reason people want to save money is so they can spend it later and if bitcoin becomes not usable as a means of exchange so people won't want to save their wealth in it either...If bitcoin can't be used a medium of exchange, it won't be used as a store of value"
@6:30 "Either they can mine an empty block during that time period while the block is being propagated and validated or they don't mine at all so as a miner its very very clear it would be better to mine an empty block and get the 12.5 coins from that than to not mine at all during that period and have no chance of getting a block..."
[continued] "...Its actually a nice way of slowing the network down from getting ahead of itself, if the blocks are too big and they are propagating around and its taking too long for people to get a whole copy of them the fact that a pool is mining an empty block, it lets rest of the network catch back up because the empty block propagates very quickly and it can be validated very quickly so it lets the whole bitcoin network catch back up to where things are supposed to be. So its actually kind of a nice safety valve for slowing the down the speed of the transaction rate on the bitcoin network if needed."
"@8:30 So right now the block size is set by a couple dozen core dev who decided who have decided the maximum size is 1MB"
@9:30 "Also, all the mining pool operators are running nodes as well and those are the ones that actually secure the network and validate the blocks and do that"
@9:47 "That's probably why this whole debate hasn't been settled already because there is not any one specific place you can point too and say this is who is in charge of solving this issue."
@10:40 "as were seeing from this current scaling debate there is this huge huge huge motivation for everybody to stay on the same chain and be part of the same bitcoin network, so even once the users are able to configure this themselves, I think 99% are still gonna stay on the same chain"
@12:55 "The developers at bu come up with an amazing technology called extreme thin blocks"
@15:20 "I think bitcoin mining is more decentralized than ever"
@18:02 "The things segwit solves/the issues it addresses aren't things that need to be fixed urgently"
@20:02 "If you're hard forking for a good reason, it's not contentious"
@20:58 "Lets say it somehow splits at 50/50 .... blocks will take 20 minutes to confirm. The transaction capacity will be half."
@23:14 "And if you have an opinion like i do on this as to which version of bitcoin is the better one. I will sell my coins on the slow expensive core chain...bitcoin unlimited coins will be so much more useful because you actually be able to send and receive them with people unlike the bitcoin core coins on this congested network that cost a fortune and take for ever to move the bitcoins"
@30:52 "And the miners, the majority if their income is from the block reward and not from the fees on the network and the will continue to be the case for like the next 100 years."
@31:02 "And its worth pointing out that the bitcoin unlimited guys they are not opposed to layer 2 technologies at all, we're excited about layer 2 tech...but our point is don't strangle bitcoins layer that brought us from nothing to where are today"
@32:12 "Whereas a lot of the core developers today are actively saying that they want to damage the bitcoin that brought to where we are today"
@33:16 "People that are part of bitcoin core are part of bitcoin core are openly and intentionally advocating for high fees and full blocks, thats kryptonite for bitcoin"
@38:12 "So for me I think its time to switch to BU, A dev team that understands why bitcoin is useful as money"
@40:23 "the bitcoin core camp seem to think that bitcoin will only be used as a store of value, so they are undermining its usefulness in commerce"
-huh?
@44:40 [Regarding BU Bug Fix removed from /bitcoin] "I think everyone involved with bitcoin should condemn that sort of activity"
@49:06 Right now you can run bitcoin on a raspi for $25
@49:12 "My understanding of their side is...I guess they have 2 [concerns]...One concern they have is that they think that bitcoin network is going to become centralized."
(paraphrased) Bigger blocks = more people = more decentralization
"As soon as the user experiences started to decline (slow confirmation, high fees), adoption has started to decline"
@51:50 "bu will have bitcoin.com"
submitted by onthefrynge to Bitcoin [link] [comments]

www.GoldMin.es Multi Coin Mining Pool now open!

www.GoldMin.es
We host new coin launches and your favorite coins too! No registration needed, and upon found block, payouts go directly to miners wallet! We keep no coins in the register Cool
Currently hosting:
Come chat in our IRC channel on freenode! https://kiwiirc.com/client/irc.freenode.net/goldmin.es
We plan on adding features to the site over the next few days, but we think you'll enjoy it...
Coin devs, drop us a line if you are looking for a pool to host your coin!
submitted by GoldMin_es to CryptoCurrency [link] [comments]

Kryptonite - YouTube Bitfundza: Bitcoin & Alt Coin Education System. Kryptonite ... AEON Kryptonite Cryptocurrency Under The Radar Gaining Crypto Currency Reporters - YouTube Litecoin Rally For Mining Reward Halving

In Bitcoin and other altcoins where the full blockchain is required to synchronize with the network, small value transactions and transaction messages tend to be discouraged because they cause “blockchain bloat”. The scalable nature of the mini-blockchain scheme relieves us from the concern of blockchain bloat and we can have full support for transaction messages and micro-transactions ... The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. Bitcoin Mining ist das neue Goldschürfen: Als Miner, also Schürfer, verdienen Sie virtuelles Geld dafür, dass Sie Ihre Rechnerleistung zur Verfügung stellen. Allerdings ist hierfür so einiges ... Bitcoin Miner bei eBay. Wer bereits seit den Anfängen der Bitcoins dabei ist, hat noch die größte Chance, als Gewinner aus dem Bitcoin-Goldrausch hervorzugehen. Wie ein Bericht der Business ... Die besten ASIC Bitcoin Miner (beispielsweise der Antminer S9) berechnen aktuell 14 Tera-Hashes pro Sekunde (14.000.000.0000 H/s). Diese Mining-Maschine würde mit der aktuellen Difficulty 13.285.714 Sekunden, also ungefähr 154 Tage (ca. 5 Monte) benötigen, um eine gültige Prüfsumme, und damit einen Block mit einer Belohnung von 12,5 Bitcoins zu finden. Das bedeutet, dass man ungefähr ...

[index] [3326] [49799] [3196] [32317] [8053] [25272] [11569] [50497] [36669] [13175]

Kryptonite - YouTube

👍👩‍🏫WEBINAR gratuitooo ONLINE 19 Enero 2018 junto con mi mentor Santi Liceras Calderon. ¡¡¡ Minería de BITCOIN y Criptomonedas!!! 😍Filosofía del cambio del s... I have mine at an average 150 AEON a day with progress moving to triple once the new upgrades of GPU scrypt mining are in place. What is AEON launched mid-2014 AEON uses the Crypto-Night algorithm ... www.kryptonbit.info What is Bitcoin? If you already know what Bitcoin is, now you can be part of the most lucrative business opportunity worldwide. Welcome to Kryptonbit. Skip navigation Sign in. Search This video is unavailable. Watch Queue Queue. Watch Queue Queue Queue

#