bitcoin news: Bitcoin Evangelist Li Xiaolai Resigns from ...

White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e
Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.


This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.


On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.


In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
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Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li

Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li
A few days ago, the IFIC International Financial Technology Innovation Summit, hosted by People’s Daily People’s Digital, Sanya City Bureau of Commerce, FINWEX, and Guoyin Jinkong, was held in Sanya. At the meeting, Bottos Chain CEO Li Xiang made the theme “The Hope of Machine Civilization”. The speech shows the basic positioning of the Bottos chain “the infrastructure that focuses on artificial intelligence, the application platform that serves data, algorithms and computing power”, and outlines the evolutionary framework of machine civilization to replace industrial civilization. During the meeting, Golden Finance interviewed the Bottos chain CEO Li Xiang.


Bottos CEO Li Xiang

Golden Finance: Please introduce the development track of the Bottos chain?

Li Xiang: According to different development periods, we divide the Bottos chain into 1.0, 2.0 and 3.0.
From 2017 to 2019, Bottos Chain 1.0 — positioned as an artificial intelligence infrastructure. Our entire team spent a year and a half developing BottosChain from 0 to 1, and open source at the end of May 2018, and officially handed over the community to decentralization in December of the same year. As a self-originating public chain, the Bottos chain BottosChain has its own independent property rights in many key technologies. At present, we have applied for 3 key technology patents, which are very flexible in the whole architecture design. We reserve the interface for the AI ​​empowering blockchain, and at the same time have great advantages in commercial performance, and do everything possible to lower the threshold. From 2019 to 2021, it will be Bottos Chain 2.0 — positioned in the artificial intelligence industry. Our goal is to help 10,000 smart DApps to land, securing massive amounts of user data assets, and letting data, computing power, algorithms and other production materials Fast exchange, spiraling out higher AI wisdom, allowing the industry to achieve a higher premium. From 2022 to 2025, the Bottos chain 3.0 is positioned as a revolution in the AI ​​back-feeding blockchain. Based on the accumulated industrial data and machine intelligence of the Bottos chain 2.0, the Bottos chain will pass the underlying code to the robot to optimize and rewrite. The ultimate goal of the first public chain of artificial intelligence. I believe that by 2025, humans no longer need to work. The machine is not only fully qualified for labor, but also the underlying code of the blockchain. In the future, the Bottos chain platform will be used to divide the value of machines and people. At that time, human intelligence will be You can explore the stars and explore the bigger unknowns.

Golden Finance: What do you think is the biggest value of the blockchain?

Li Xiang: Rather than saying that the blockchain creates new value, it is better to say that the blockchain will not be released from the statistical stock value. For example, each of us is generating massive amounts of data every day. When these data are securitized by the blockchain, everyone is Xiaolai Li. The digital economics of Bottos chain cognition is the use of blockchain technology to redistribute the productivity of the digital economy through data, algorithms, and computational power. The Bottos chain is positioned to carry the evolution of artificial intelligence using blockchain technology, and we must share Data asset securitization will bring huge value dividends.
In the era of the Internet, data is centralized, and data obtained from users at no cost has created giant companies such as BAT. In the blockchain era, personal data will truly belong to individuals. Due to the popularity of 5G-promoted ubiquitous Internet of Things, the silent data of tera-sensors will be activated to generate new artificial intelligence, between individuals and individuals outside the BAT client. Obtaining the possibility of peer-to-peer direct sharing of data, we do not need to snatch data from Internet packets, but exchange data directly from the bottom of the sensor through the Internet of Everything. The exchange and superposition of data and data has spawned the spiral evolution of algorithms and computational forces, and then returns the generated value to the individuals of the data source. We can see that the platform built by the Bottos chain carries the closed-loop value of data, algorithms and computing power in the machine civilization. Artificial intelligence is one of the few blockchain fields that can construct an all-digital closed loop. Artificial intelligence is also the only way to bypass Taobao WeChat. This is the value chain of the centralized application, which is the original intention of the Bottos chain to locate artificial intelligence. In the field of artificial intelligence, the main source of value of Keda Xunfei and Shangtang Technology is the free data source provided by millions of users. We can imagine that the market value of the two companies will be divided into millions of users, and the per capita capital will be renewed. Assigning the scene, this is the mission of the Bottos chain.

Golden Finance: How do you see the relationship between artificial intelligence and blockchain now?

Li Xiang: Artificial intelligence is productivity, blockchain is production relations, productivity is that I can destroy you, production relationship is that I can’t directly destroy you, but I can offer the best person to destroy. Productivity creates value, and production relations drive productivity, so they are complementary and can be understood as the poles of Tai Chi. So how many blockchains in the future will have a lot of blockchains to help him achieve value, otherwise he can’t live alone because he didn’t make money. Suppose a developer researches an algorithm, including Bitcoin, which is an algorithm that requires a set of value chains to collaborate and a set of cross-organizational value exchange systems to support. Without a value chain and value mitigation, this algorithm cannot be separated. survive. We have restored this form of bitcoin to countless entrepreneurs, technology workers, man-machine warriors, and data providers, so that they can make new money. Intelligent hardware far exceeds the commercial value of traditional hardware. It comes from its semi-soft and semi-hard features. The soft part can not only capture hard information, perform edge calculation, but also self-purify to rewrite the working mode of hardware. We can simply Understood as a line upgrade on Apple phones. But traditional hardware, it is only hard and not soft, his data is wasted, and he can’t self-evolve. So, the combination of soft and hard is a new life state of the new life, which is the basic unit of machine civilization. Everything in the future is soft and hard, it generates data, and the hardware becomes a living body. This kind of living body will evolve from industrial civilization to machine civilization if it evolves from industrial civilization to machine civilization if it evolves into machines that build machines and machines that write programs (we are writing artificial contracts directly with artificial intelligence).

Golden Finance: What difficulties and challenges did Bottos encounter from its inception to the present, and which pits have been crossed?

Li Xiang: From 2017 to 2019, we have experienced some minor storms. In general, it is a challenge all the way, but in the end, it will turn into a growing nectar. The first is the cognitive challenge. We are a revolutionary platform. Therefore, we advocate the spirit of geeks. Only by breaking through the cognition can we change the world. We believe that the artificial intelligence + blockchain can rewrite human civilization. The future is the age of machine civilization. Everyone is worth the money. It can support countless robots. At the same time, everyone is very profitable because he participates in and shares the feast of machine civilization. This is a huge bonus that the Bottos chain hopes to excavate. Secondly, the technical challenge, blockchain + AI is extremely brain-burning, when black technology encounters black technology, if there is no deep understanding of the two industries, there is no great courage and determination, this double track It is very difficult to do it. Finally, there are challenges in the quality of the team. In the process of project development, there will always be a low point. When there are pressures from all sides, there are new people joining the old people on the road, how the core team keeps the initial heart and the front, I think it is the project. The core factor that can ultimately achieve the goal.

Golden Finance: What is the possible type or industry of DAPP in the future Bottos chain?

Li Xiang: Focusing on data and sensor algorithms, there are many application scenarios, such as travel scenarios, smart home scenarios, car networking scenarios, and then there are a large number of scenarios on the mobile side, or reversed according to value, as long as it can correspond to a billion-dollar The centralized enterprise, we all have the possibility to create a mechanism to take back. At present, artificial intelligence has begun to erupt from visual hearing, such as Keda Xunfei and Shangtang Technology, which have begun to gain a lot of application value. The reason is that the standard of the Turing test is to let the machine have the ability to talk with people. This ability comes first from simulating human perception. The meaning of the sensor is to digitally simulate the five senses of people and generate massive data. So now we see that artificial intelligence breaks through from hearing and vision first, because human sensors and radios are the crystallization of human sensors that are close to a hundred years of development, and the sensors of touch, smell and taste need to evolve gradually. . With five senses, we also need to think about thinking. Google’s man-machine war is the application of thinking. With thinking and driving feedback, Google’s Boston Power Robot is the application that drives feedback. Google is a monument to artificial intelligence, its valuation is more than 800 billion US dollars, and countless Keda Xunfei in the world are catching up with speed. It is conceivable that the Bottos chain stands at a dawn moment when a great era is about to open. We not only hope to remind the birth of countless Google, but also hope that these “new Google” will repay the millions of wealth of Xiaolai Li.

If you aren’t already in our group, please join now! https://t.me/bottosofficial
Bottos Website | Twitter |Facebook | Telegram
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Translation of Jihuan Wu's interview with Huobi

Huobi has started organizing some public lectures, and for this particular one they interviewed Jihan Wu. Not sure if anyone else is interested but I enjoyed the article and decided to translate it - questions are roughly translated, and his answers are written in full!
This is about 30% because the article is really long - if anyone's interested I will sit down and do the rest. Original article
Q: How did you get into the bitcoin industry?
A: When I was studying, I was very interested in the origins of currency for a while. Apart from textbooks, borrow and read other books to learn. I'm more familiar with some of the interesting history about currency, such as how we used various types of currency before gold (as a precious metal) and fiat became widely adopted.
When I first came into contact with Bitcoin, it still had a very small market cap. In 2010, I read an analysis about Bitcoin's security written by a famous hacker. He thought Bitcoin's structure was very simple and the technology had no problems. Coming back to the principles about currency that I'm familiar with - I think that since the Internet is a unique community type, it's obvious that many hope that Bitcoin can be circulated as a universal equivalent within a certain niche community. Hence, I was determined and invested a lot of money to purchase Bitcoin. Within a short period of time, Bitcoin's value rose from 10USD to 30 USD, then fell to 2USD, so I lost 80% of my investment. This was my exciting, somewhat discouraging introduction into the bitcoin industry.
After purchasing Bitcoin, I translated Satoshi's white paper to gain a deeper understanding of the technology behind it. In the process of analyzing it, I developed an interest in and understanding of mining, leading me to stay in this industry to this day.
Q: What do you think about people saying you hold the most bitcoins?
A: I don't think so, because the process of forming Bitcoin's history is such that those who enter early gain huge benefits. Initially Satoshi held the most bitcoin; later on some famous investors such as Facebook's Winklevoss and Li Xiaolai surely hold a lot of bitcoin. After the bitcoin community suffered a series of profoundly impactful misfortunes, there was even less chance of me holding the most bitcoins since I gradually began selling my holdings from when bitcoin was about 24000 yuan (edited, thanks BitcoinPrepper!) and bought other digital currencies that seemed more promising. One of those is BCC.
Q: When did you find out about and join bitcoin's discussion about increasing block size?
A: I found out about it and joined the discussion at about the same time but I was pretty late to the discussion. The dispute about increasing block size can be traced back to 2010, when Satoshi was still around. A recent large dispute started in 2013, but by the time I began to follow it, it was already late 2015. At that point, the entire developer community had reached a stage where no one was willing to back down. Before we began to follow the discussion in earnest, we really believed in the moral character of the developers and thought this was just a technology issue. We believed they would come to a compromise and work out a better solution to the issue of increasing block size on their own.
Towards the end of 2015, both sides began to lose patience and some developers had begun to liaise with Chinese miners. October 2015 is a milestone in Bitcoin's history, because they began to coordinate working with mining pools to implement a hard fork to increase block size.
In January 2016, splits appeared in the developer community that produced Bitcoin Unlimited (BU), Classic and other small groups. Among them, Classic flew to china and met many mining pools to begin promoting a hard fork upgrade. At that time our company also met Classic's team, and we were the first in the world to signal our support for Classic. Afterwards, platforms began to show their support one by one - this was the backdrop to our consensus negotiations in Hong Kong.
After we signaled support for classic, an overwhelming majority of people wished that Core would compromise so that there wouldn't be a need to change the lead developer team. Hence, we held meetings in HK, holding the Hong Kong Consensus Negotiations (??). Core developers promised to work towards a hard fork and miners would no longer use clients not compatible with Core.
However, the Hong Kong Consensus was later on executed very poorly. Being a compromise, both sides understood the agreement very differently. Miners and exchanges held negotiations with Core developers, supporters and fans. We kept a hopeful attitude that bitcoin could follow the blueprint originally delimited by Satoshi and promptly upgrade, or else the issue of increasing block size would affect the growth of Bitcoin.
Q: Till May this year Bitcoin's fork was widely discussed, and Litecoin also gave it a go. At that time there were the proposals put forth by BU and Classic that you just mentioned - can you discuss the relationship between BU's proposal and BCC?
A: Former core developers have played a large part in forming the multiple developer teams such as BU, ABC, Classic, XT which are all now compatible with the BCC/BCH chain, and these teams are independent from the core team that are still in charge of the BTC chain (edited, thanks alfonumeric!). Some of BCC's main developers were leading BU developers and some of BCC's main anonymous developers previously made significant contributions to BU. These developers had their own ideals and ideas regarding how the quality of software development should be managed and how to coordinate the circulation of open-source software. Hence, BCC eventually broke off and formed a development team separate from BU.
Q: What value do you think BCC brings to the Bitcoin ecosystem?
A: Before discussing that, we need to be clear about what on-chain assets are. We feel that on-chain assets are essentially a type of willingly formed social contract dependent on technology to be realized.
Firstly, it is a social thing because it has achieved huge scale - there are many participants, about 20-30 million worldwide. These communities can be divided into Bitcoin, Litecoin, Dash etc. Within each asset, the communities' participants have an initial consensus and have drafted a set of rules for the asset. At the same time consensus is reached willingly. This is the essence of on-chain assets: they can be realized through technology, based on the foundations of an agreement that was willingly entered into.
What happened during Bitcoin's block size upgrade? Firstly, Satoshi made clear since he first began writing the software that blocks would have to grow eventually and that hard forks were an important method to increase block size.
This was already apparent in Satoshi's white paper and emails, and his discussions on Bitcoin forums expressed similar views. Before Blockstream and their allies strangled opinions on certain important channels and media platforms, the entire Bitcoin community was largely aligned on the plan for and route towards Bitcoin's block size upgrade. Actually, this is a part of Bitcoin's entire community protocol, but after Blockstream gained control of important community and developer forums they began shutting down opinions starting in 2016, brainwashing newcomers to the bitcoin community. In my opinion, this is a violation of the community's social contract and the tradition of liberalism.
The Bitcoin community stresses freedom of speech, developing ideas and not controlling opinions or thinking. When these things appear, the community begins to violate its early promises. BCC appeared under these circumstances and helped the Bitcoin community to return to its earlier roots of liberalism. Previously, Bitcoin's community was open and everyone was free to voice opinions regarding what its future should look like. We formed an agreement based on resources, so we could freely organize ourselves (not sure what he means). This proved that any party who attempted to prohibit or exercise autocratic supervision over blockchain assets was doomed to fail, since the community was free to think and people could group up through communities to form consensus. With this consensus, we could produce the relevant software and guarantee the consensus on the blockchain. With regards to Bitcoin's ecosystem, I feel that BCC's greatest value lies in how it welcomes back the old tradition of liberalism.
Q: What left a deep impression on you during BCC's development?
A: Firstly the rise and fall of BCC's price is very interesting. After BCC commenced trading it hit a high of 0.5 BTC, then fell sharply. In the following days BCC's price fluctuated violently and would triple in a few days then fall, because everyone was in the process of getting to know and accept it. This left the deepest impression on me.
Next its difficulty adjustment mechanism is also interesting. Being a fork with less computing power, BCC could release blocks at a steady rate and the adjustment mechanism played an invaluable role. When BCC's block creation rate is slow, the difficulty decreases so that at some points of time BCC mining is more profitable than mining Bitcoin, attracting large amounts of computing power to mine BCC. After this critical point has passed, BTC transactions will be very congested. When the difficulty adjusts upwards again, computing power will shift back to BTC and alleviate the congestion. These events are fascinating and have never occurred before in Bitcoin's history. When we first saw this phenomenon with our own eyes we felt it was really fascinating - it has many implications for the switching over of computing power and how the value of assets are determined, and is worth researching.
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Bitcoin Tycoon Li Xiaolai: Investment, Please Start from Learning!

Bitcoin Tycoon Li Xiaolai: Investment, Please Start from Learning!

Li Xiaolai, former Chinese crypto investor
For Li Xiaolai, I believe that everyone is no stranger, and recently he is back! If you are concerned, you will find this controversial figure, some people regard him as a life mentor, and some people regard him as a swindler. In today’s era of information, it is difficult to judge a person impartially and objectively.
Regarding Li Xiaolai, I spent a lot of time researching this person. From the beginning, he taught us a lot of things, The first pot of gold that Li Xiaolai earned was a few test books he wrote during his teaching in New Oriental, and the famous “Take Time as a Friend”, which brought him nearly a million years of income as early as ten years ago. . In 2011, Li Xiaolai first learned about Bitcoin from the Internet. I thought I found the right way to know a person and his knowledge.

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Li Xiaolai and his book “The Self- Cultivation of Chives” give the greatest revelation: no matter what you are doing, whether it is investing, attention, time, learning, growth, is always the most important thing. In life, it doesn’t matter what you do, as long as you do it well you will succeed. It is cultivating that skillset that where ever you do, you will succeed.
While learning and growing are important for investment, he gave advice in “ The Self- Cultivation of Chives “,In his opinion, it is difficult to have a place in the world that needs more learning ability than the trading market. The success of the trade can ultimately be traced back to learning ability. Almost all-powerful traders are masters of learning and research.
Regarding the criteria for distinguishing between investors and speculators, he believes that “speculators refuse to learn, investors are good at learning. Before placing the trade, study carefully and study in depth; after the transaction, whether you win or lose, you must summarize your ideas and thoughts in order to improve your next decision-making. The person who does this is investing in his knowledge. Even if they are “fast forward and fast out.” What is the “ Chives”? They don’t study, they are blind, they blame everyone… Such people, in his eyes, whether they have money or not, regardless of IQ, are “failed speculators”.
In Li Xiaolai’s view, the wrong timing and blind “buy and buy” led the novice to become a professional. To get out of the long-term trade, it is necessary to continue to learn to improve investment literacy, rather than waiting for lady luck.
Of course, choosing the right time to enter is not easy, because even the Wall Street traders admit that “it is more difficult to get into the market accurately in the market than to catch a dropping knife.” Not to mention ordinary investors and novices. However, blind investment can be avoided by everyone, on the grounds that learning and summing up experience can be done before and after the investment.

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It is worth noting that the difference in the direction and order of investment learning will also make a difference in results, such as value investing, “determining whether to buy or sell after the value of the value is available,” and “discovering it after three or seventy-one. There is a world of difference in not being able to study value again. Therefore, the importance of learning direction and order also requires deep thinking.
Regardless of traditional investment methods or digital currency investments, learning can discover value, as conveyed in the self-cultivation of amaranth: whether you are on or off the field, if you want to invest, start with learning.

https://preview.redd.it/r6kyw5gfxp031.jpg?width=640&format=pjpg&auto=webp&s=43319e1e6b2984cb791203814be4244777e93540
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The Mixin Network Review

As the challenge of Blockchain scalability continues to handicap cryptocurrencies ascension to mainstream adoption, an industry wide arms race has been launched to produce a distributed ledger capable of achieving faster transaction speeds without compromising security or decentralization. Although solutions like the Lightening Network, Raiden and Plasma currently lead the way, they still haven’t been proven to be the definitive solution for achieving true scalability.

In response to this, the Mixin Network brings to market a multilayered platform built to enhance the speed, privacy and security of transactions between digital assets across multiple distributed ledgers.

Mixin provides a messenger app — ‘Mixin Messenger’, where users can store cryptocurrencies in their wallet, and perform lightening fast peer-to-peer transactions between contacts. Developers can also build new Dapps on top of the Mixin Networks infrastructure.

With bold claims of over a billion transactions per second, 0% transaction fees, and an infrastructure for cross chain Dapp development; Mixin is positioning itself to be the dominant solution to the blockchain scalability problem.

How it works

The Mixin Network is composed of different high performance distributed ledgers, with the core ledger called the ‘Kernel’, and the supporting ledgers called ‘domains’ and ‘domain extensions’.


Domains are gateways that feed assets from Bitcoin, Ethereum, other Blockchains, and even central banks into the kernel. The kernel is responsible for verifying and governing the assets and their transactions.

Domain extensions are the distributed ledgers that store Ethereum, EOS and other blockchain smart contracts and trusted applications.

Mixin Kernel

The Kernel is a core component of the Mixin network. It uses a directed acyclic graph design to scale digital asset transactions.

A directed acyclic graph (or DAG) is a structure consisting of nodes that are connected to each other in a non-linear pattern. With DAG’s, information is dispersed using a ‘gossip protocol’ across multiple nodes simultaneously, allowing consensus on transactions to be achieved faster.


Consensus Protocol

The Mixin Kernel distributed ledger uses a proof of stake consensus protocol. Kernel Nodes stake at least 10,000 XIN as collateral in exchange for the ability to validate transactions on the Kernel distributed ledger.

Each Mixin Kernel Node represents 10,000 XIN, which is approximate 2% of the network stake. The Kernel can only operate with at least 7 nodes joined, which is about 15% of the whole networks stake.

Privacy

For privacy, Mixin kernel uses a 1-time key generation algorithm, which allows the system to generate a ‘ghost address’ that can be discarded after each transaction a user makes.

Mixin Domain

The Mixin domain communicates with the kernel via system calls.

In order for an external asset (from the Bitcoin blockchain for example) to become associated with the Mixin kernel, a Mixin public key is first produced to connect with the domain, and then an asset specific public key (i.e a Bitcoin public key) is produced to connect the asset to the Mixin Kernel. If someone wants to send funds from their Bitcoin wallet to the Mixin network, the domain will create a transaction to the Mixin public key, and the Mixin kernel will verify the transaction.

Mixin Domain Extension

The Mixin domain extensions enable users to setup ‘smart contracts’ from a single computational unit (i.e your laptop or iPhone). These smart contracts are higher performing and more robust than those currently offered on the Ethereum blockchain.

XIN Token

XIN tokens are the main token used in the network. Like Bitcoin and Ethereum, the token is paid to those who support the network by validating transactions. XIN tokens are also staked in the proof of stake consensus protocol (at least 10,000 XIN tokens must be staked to join the network as a full node).

The Mixin Network also connects to different Dapps using API calls. These Dapps pay the network in XIN tokens based on the amount of resources the Dapp consumes.

Total Supply: 1,000,000

Circulating Supply: 438,154

Token Sale Date: Nov 25 ~ Dec 25 2017

Market Cap: $231million (rank #45)

Current price: $529


Mixin Messenger

Mixin provides a messaging application called ‘Mixin Messenger, which allows users to take advantage of the secure and efficient distributed ledger infrastructure they’ve built.

The app is available on the Google or Apple store, and can be used to transfer cryptocurrencies to anyone with their phone number, even if they are not a Mixin user. The app also features a digital wallet, and is capable of performing lightening fast peer-to-peer transactions between Mixin contacts.


Mixin Messenger also provides a series of Bots created by a community of developers to automate certain functionally for users:

For Transactions:

· Red Envelop (Red Pocket): Gamification bot for winning tokens in a group chat.

· Assistant (Group Chat Admin): A group owner can invite this bot to join their group chat, and decide the conditions for all members. For example; the group member should have 20 XIN on their account.

· Exin (OTC, Exchange): Users buy cryptocurrencies OTC (over the counter) and the bot provides several trading pairs, for example: BTC/USDT, ETH/USDT, XIN/BTC, etc.

· Coin Exchange: Comes in 2 parts: paid question and coin exchange. Paid question section shows several valued questions, and people have to pay to check the answers. The exchange section is a small and simple crypto exchange on the Mixin network.

For News and Information:

· Mixin Log: This is the official channel to post development log or news about Mixin, etc.

· Hacker News: Hacker News is a news channel belongs to Y-Combinator. Delivers interesting news automatically.

· IMEOS (fresh updates): The bot connects IMEOS, the first media portal about EOS, and it also reports worldwide blockchain news, EOS marketing data, etc.

· Bot (Bishijie News Fresh Update): The bot links a famous blockchain media named Bi Shi Jie. It sends the news from the official site to Mixin.

Gaming:

· Virtual American Roulette: Decides what kind of token, how much you bet and which color or number you choose. Players send these orders to the bot, pay the bot, and then you receive the results immediately.

AI/Chat Bot:

· MX (Virtual Friend): A virtual girl named Xiaobing who you can communicate with users like a real human.

Team

The Mixin Network team consists of experienced developers who have worked in the blockchain and tech space for many years and produced a variety of unique multimedia apps. Overall the team has 20 members who are based in China and Japan.

Cedric Fung — CEO — Blockchain Architect of Asia’s top emerging exchange BigONE, Co-Founder of Yixia.com, China’s video ecosystem leader with products including Miaopai short video app, Xiaokaxiu dubsmash app and Yizhibo live stream app

Danna Li — COO — Earliest blockchain adopter, former 8BTC Columnist, Bitmain Investment Lead, INBlockchain core team member and BigONE Operation Lead

Crossle Song — CTO — Former Yixia.com Technology Lead, Vitamio SDK Architecture Lead, seasoned Android and iOS developer

Oven Tang — Product Lead — Developer of Miaopai, China’s leading video app with 300M users

Investors

Xiaolai (IN Blockchain Partner)

Lao Mao (IN Blockchain Partner)

Yonghao Lou (CEO of Smartisan)

Roadmap

2018 mid July — Debut of Mixin Exchange

2018 September — Mainnet beta launch

2019 February — Mainnet launch

Community Development Plan

2018 early July — Mixin Developer Hackathon

2018 July 7–9 Hack Summit

Pros:

Byzantine fault tolerant security
Trusted Execution Environment (TEE) is used to reenforce security and boost transaction times by eliminating network latency
Ghost address generation enhances user privacy when transferring funds
Messenger application enables lightening fast peer-to-peer transactions between contacts
Provides an infrastructure for cross chain Dapp development.
Strong technical team
40,000 daily active users who store assets valued at over $100 million
Challenges

Mixin faces stiff competition from other blockchain protocols like EOS, ICON, NEO, etc. These protocols are all trying to achieve the most scalable solution. However, Mixin has the advantage of offering a network that enhances the transaction speed, security and privacy of all digital assets belonging to these Blockchains.
Conclusion

In a highly competitive space where hundreds of protocols are fighting for market dominance, Mixin stands out by providing a multilayered infrastructure that enhances scalability, security, privacy, and cross chain functionality.

At the base layer, Mixin aims to solve blockchain scalability by creating a network of distributed ledgers that function under a highly secure directed acyclic graph design. On top of this high functioning network sits a simple mobile messaging application, which enables users to seamlessly store and transfer a variety of cryptocurrencies between contacts. Lastly, Mixin is aspiring to become a platform for cross-chain Dapp development.

Overall, Mixin still has a ways to go before it becomes a household name like EOS or Ethereum. However, their unique value proposition, current user adoption and highly advanced technical infrastructure make it a very promising project to keep watching.
for more details; https://mixin.one/

submitted by 67vader to ICOAnalysis [link] [comments]

Siacoin fluctuation, use and publicity

Sia is an excellent product and has great potential. However the problem is "Siacoin" & publicity. The premise behind it is sound, but whether Nebulous like it or not, it's a fluctuating currency. Even if it stays "steady", there is still fluctuation. The value is likely to go up, and where it settles is up for debate as sia increases in take up/popularity. Even if Sia stays stable the means to buy it is often via bitcoin which in itself is variable in price. The other issue is around awareness of product and getting a good buzz going. This might seem a bit fluffy, but investment will drive future development. This isn't such an issue perhaps now, but is something I hope is on the horizon.
Who holds Siacoin and what are they actually for? Investment or used to store stuff??. Lets put it this way - there are a lot of siacoins out there, and even more coming over the next few years. But currently only 2% of the Sia Network capacity is being used, so there are a lot of coins just sitting in peoples wallets. OK it's obvious that sia take-up will increase significantly as the technology matures, but for the next 6-12 months is the ponderment. So who and why do people have or hold in Sia, they certainly aren't held by companies thinking this will save us a packet in 10 years. Lots HODLing, Devs have 1%, and other parties like Li Xiaolai probably have a stake, but there is a lot held by independent investors/miners. As the value continues to dribble downwards it generates... uncertainty, which in my opinion is a shame. I really cant stress enough how good i think Nebulous/Sia is, with really good beliefs and values as well as an excellent product. So many coins these days seem to be worth millions all from a white paper and not much else.
The Dev guys approach, along side investment from INBlockchain of $400,000 and their direction towards the core technology (road-map) is cool, as is employing a UI dev. I just wonder at what point Nebulous are considering to drum up interest and begin to really market the product, I'm assuming after more work in UI and making a stable product. The longer question is how effective Siacoin will be as payment method given that storage is often about long term and consistency and forward planning.
There was an event that David Vorick was a guest speaker & seemed very pleased that sia got positive publicity and the price was 800+. I think Sia will inevitably increase in coming months / year. I just hope those intending to HODL can stay the distance and that publicity will increase equally - Having said that 42billion siacoins by 2020 is a frigging lot :) I wish i had a siaFund instead !
submitted by spearmint_man to siacoin [link] [comments]

Bitcoins Come to China

By Chen Huijing (陈慧晶) Issue 618, May 6, 2013 Market, page 17 Translated by Zhu Na Original article: [Chinese] http://www.eeo.com.cn/ens/2013/0509/243777.shtml
Within just one month, the value Cheng Hua’s (程华) Bitcoin holdings had increased nearly sixfold.
Bitcoin, an unofficial virtual currency that’s transferred digitally without an intermediate financial institution, saw its value soar from $46 to $230 between Mar 10 and April 10.
Cheng Hua was one of the first Chinese to trade the currency. In China, Bitcoin lovers like him call themselves “BTCers.”
Li Xiaolai (李笑来), who claims to have the largest collection of Bitcoins in China, describes his obsession saying, “Bitcoin is the most stunning and most subversive social experiment in history.”
Will Bitcoin start to challenge traditional currency? Or is this just a speculative bubble that will become the digital world’s “Tulip Mania”?
A Crisis and an Opportunity
If it weren’t for the banking crisis that hit Cyprus, Cheng Hua may have totally forgotten about the 2,000 Bitcoins that he and his friends bought two years ago.
On Mar 16, the Mediterranean island nation of about 1 million signed on for a 10 billion euro bailout from the EU and IMF. As part of the deal, Cyprus would raise 5.8 billion euro by levying a one-off 6.7 percent tax on bank deposits under 100,000 euro and 9.9 percent on higher deposits. Once the news circulated, people in Cyprus rushed to withdraw their money from banks.
During this time, downloads of online software for trading Bitcoin started to boom. Cypriots were very interested in a virtual currency with no central government control.
Jeff Berwick, founder of StockHouse.com and CEO of TDV Media, announced that he planned to open a Bitcoin ATM in Cyprus. He said that within just a few days, he received many orders for these special ATMs.
With the surge in demand, the price of Bitcoin against the U.S. dollar soared. On Mar 16, it was worth $47. By Apr 9, it broke through $200 and reached its highest point of $230. But it soon fell back to around $100.
“During this month of watching Bitcoin, I hardly got any sleep,” said a “BTCer” who just recently got interested in the field. “Between the time I closed my eyes and opened them again, the price had risen or dropped more than $10. It was very exciting.”
He’s considering selling his house so he can invest all his money in Bitcoin.
Cheng Hua was also shocked by the recent events. He found that the 5,000 yuan he invested in Bitcoin two years ago was now worth 40 times that amount.
Investment
Bitcoin was started in 2008 by an anonymous creator as an alternative to government controlled currency - much like gold. And like gold, Bitcoin is “mined” virtually. According to Wall Street Journal, people can mine Bitcoins with computers and special software by solving complicated mathematical problems. But since the process is so difficult, most just opt to buy it. New Bitcoins are made available to be mined when the network is updated, and the amount of new coins distributed will be halved every year until 2140 when the total number will be capped at 21 million.
In May 2011, Cheng Hua and his colleagues at a software company started to mine Bitcoin online. “At that time there weren’t many people mining, so it was easy,” he said. “In the beginning, we could dig up two or three Bitcoins per day. There were different mines as well as rankings. We joined one of them, and coins were allocated based on the contribution of miners’ calculation ability.”
Like many Bitcoin lovers, Cheng Hua and his team’s mining experience wasn’t very successful. The money they generated from selling Bitcoins was less than what they’d invested in the electronic infrastructure to mine. After half a year, they gave up. Luckily for Cheng, he held on to many of the coins.
Li Xiaolai (李笑来), founder of a major website, invested hundreds of thousands of yuan and suffered major losses, but persisted in the Bitcoin market. He continued to gain more by buying low and selling high. “In the end, I gained 2,100 Bitcoins using this method, which was far beyond my expectations,” Li said.
He says that Bitcoin is valuable because it ensures inviolability of private property through its decentralized peer-to-peer structure. To him, it provides a guarantee of freedom.
The Future Economy?
Bitcoin has come a long way in its short history. As of Mar 30, all Bitcoins that have been issued so far were together worth over $1 billion. And a series of Bitcoin-related industries have developed including Bitcoin exchanges, information websites and third-party payment services.
In the U.S., Bitcoin is already being used in daily life. According to an October 2012 report by BitPay, a company providing payment mediums for Bitcoin, over 1,000 merchants accepted payment with the currency through their system.
Though Bitcoin just started to take off in China this year, there are already more than 10 online stores on Taobao that accept the currency. And after the Ya’an earthquake hit, Bitcoin donations were accepted.
American economist Paul Krugman has come down hard on Bitcoins, saying they “derive their value, if any, purely from self-fulfilling prophecy, the belief that other people will accept them as payment.”
“BTCers” have a different view. Li says that Bitcoin does indeed have some shortcomings currently, but that’s because people dealing with the young currency have a mindset that’s accumulated after thousands of years of using traditional money. Volatility, he says, is natural in the beginning.
“I don’t see Bitcoin as speculation or an investment,” Li said. “For me, it’s a social practice. Gold doesn’t support currency. People’s trust supports currency. Bitcoin is the same. It has no intrinsic value. It’s gained trust from people on the internet voluntarily. This trust is more valuable than the forced trust traditional currency relies on.”
Cheng Hua holds the same view “Bitcoin is based on the principle of trust,” he says. “Maybe it will have bubble stages, but currency must go through these stages during development. The traditional legal currency also went through these stages in its emergence. The future economy in the virtual world is built on the basis of virtual currency. This is the value of Bitcoin.”
submitted by aisen to Bitcoin [link] [comments]

Bitcoin, Ethereum, Gold und Silber - 28. Oktober ... BITCOIN BULLISH BREAKOUT NOW!!! - YouTube Chinese Bitcoin Billionare Li Xiaolai Secrectly recorded ... Initial Fork Offerings (IFOs) The New and Trendy Way to Fund Crypto Projects - Bitcoin News Crypto news: Li Xiaolai Condemns NEO, Binance, Qtum, Big.One

Li Xiaolai, was a speaker at the event I attended at Cheku Café. He is perhaps the most famous figure in the Chinese bitcoin world. Li admitted on one occasion that his bitcoin holdings are a six ... bitcoin news: Bitcoin Evangelist Li Xiaolai Resigns from $1B Government-Backed Blockchain Fund Like Wechat, Bitcoin is a network, but there is the big big difference between traditional network of information like Wechat and the new network of value like Bitcoin. Bitcoin for first time in history enables people to pass something on Internet to another person, and before that you can only share sth with others, which means you still hold a copy. Keeping a copy for ourselves won’t harm ... BitFund founder and well-known Bitcoin holder Li Xiaolai said that he is going to stop personally investing into blockchain projects. Instead, he’s focusing on a career change. Bitcoin Tycoon Li Xiaolai Says He’s Done Investing In Blockchain Projects Li Xiaolai also created a significant buzz in the Chinese cryptocurrency ecosystem in July when he deemed Binance as a scam and NEO as a worthless project with an inflated value. Now, the Chinese Bitcoin (BTC) tycoon decided to quit investing in crypto- and blockchain-related projects, a decision that started some controversial discussions ...

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Bitcoin, Ethereum, Gold und Silber - 28. Oktober ...

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