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How to purchase and exchange your litecoin! (longer read)

This post will show you the best ways to buy litecoins using many different payment methods and exchanges for each method.
Before you start, make sure you have a good litecoin wallet to store your LTC. NEVER store your litecoins on a crypto exchange.

Popular Exchanges

eToro
Coinbase
Coinmama

Buy Litecoin with Credit Card or Debit Card

Let’s dive into some of the exchanges supporting Litecoin credit card purchases.
These exchanges are our favorite ways to buy.

Coinbase

Coinbase is the easiest way to buy litecoins with a credit card.
Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia.
The fees will come out to 3.99% per purchase.
Here is a good video that can help walk you through the process of buying on Coinbase, although it’s fairly easy.

Coinmama

Coinmama recently added the ability to buy litecoin directly on the platform. Users from nearly any country in the world can use Coinmama to buy litecoins.
Coinmama has some of the highest limits among credit card exchanges.

BitPanda

BitPanda is based in Austria and is a crypto brokerage service. You can buy using a credit card from most European countries.

CEX.io

CEX.io is based in the UK and is one of the oldest crypto exchanges online.
CEX.io supports litecoin and its users from nearly anywhere in the world can buy litecoin with credit card on the platform.

Buy Litecoin with Bank Account or Bank Transfer

Coinbase

Coinbase is the easiest way to buy litecoins with a bank account or transfer.
Coinbase, like is is for credit cards, is available in the United States, Canada, Europe, UK, Singapore, and Australia.
Coinbase is one of primary exchanges used to buy Litecoins.
Americans can use ACH transfer (5–7 days wait), and Europeans can use SEPA transfer (1–3 days wait).
The fees will come out to 1.49% per purchase.

BitPanda

BitPanda is based in Austria and is a crypto brokerage service. You can buy using SEPA transfer from most European countries. You can also use SOFORT, NETELLER, or GiroPay.

CEX.io

CEX.io also supports litecoin buys via bank account. This is via wire transfer for US citizens, SEPA for Europe, and SWIFT for the rest of the globe.

Binance

Binance is now one of the largest if not the largest cryptocurrency exchange in the world. It supports bank and card purchases of Litecoin as well as Litecoin trading pairs with Bitcoin and Etehreum.

Get a Litecoin Wallet

Before we move onto other options:
Never store your litecoins on an exchange!
Always withdrawal your litecoin to an offline cryptocurrency wallet like the Ledger Nano S or any other wallet that you control.
The Ledger Nano S and TREZOR are the best options for secure storage.

Other Methods to Buy Litecoin

If you don’t have a card or want to avoid the high fees, you can use the following methods to buy Litecoin as well.
Find out which one works best for you.

Buy Litecoin with PayPal

Unfortunately, there is no easy way to buy Litecoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case.
You can, however, now use eToro to buy Litecoin, unless you live in the United States.
If you live in the US, the only way to buy Litecoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litecoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Litecoin.

Buy Litecoin with Cash

There is no good way to buy litecoins with cash. LocalBitcoins is the most popular way to buy bitcoins with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC. So you will have to first buy bitcoins with cash then exchange them for LTC using the method described below.
The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for litecoins.

Buy Litecoin with Bitcoin

If you already have Bitcoins then it is VERY simple to convert some of your BTC to litecoins.
You just need to find an exchange with the LTC/BTC pair, which is most exchanges since LTC/BTC is a very popular pair to trade.

Buy Litecoin with Skrill

BitPanda, mentioned above, also accepts Skrill payments for LTC. The fees will vary and are simply included in your buy price.

Cryptmixer

Cryptmixer is probably the fastest way to convert BTC to Litecoin. You just enter the amount of LTC you want to buy, and give them a LTC address. Then they will tell you how much BTC to send to their address. Once your BTC is sent, you will have LTC delivered to your wallet very shortly after.

Buy Litecoin with Ethereum

Ethereum has experienced a massive price rise. Nearly a year ago it was $10, and now at over $500, many want to move some of their ETH gains into other coins like Litecoin.
Litecoin has very good liquidity, and is very popular among traders especially in China.
So this guide is going to show you how to buy litecoins with Ethereum. We will show some of the best exchanges you can use, and the pros and cons of using different types of exchanges over the other.

Cryptmixer

Cryptmixer is one of the most unique exchanges, and also one of the fastest ways to convert your ETH to LTC.
With Cryptmixer you do not even need to store your money with the exchange, meaning you are at very little risk of getting your funds stolen.
With Cryptmixer you simply specify the amount of LTC you want to buy, and specific the address to where your litecoins should be sent and within 30 minutes you will have LTC delivered to your wallet.

Poloniex

Poloniex is the world’s largest altcoin exchange. However, there is a huge downside to using Poloniex to convert your ETH to LTC:
Poloniex does not have a LTC/ETH market, meaning you have to first trade your ETH to BTC, and then trade your BTC for LTC.
While this method works, you will have to make multiple trades and also pay fees twice.

ShapeShift

Shapeshift is basically the same as Cryptmixer, and was actually the first company to come up with the concept of an exchange that does not hold your own funds.

Frequently Asked Questions About Buying Litecoin

Many of you may still have lots of questions about how to buy Litecoin.
Odds are we have answered almost any question you could think of below.
We will aim to answer many of the most common questions relating to buying Litecoin.

Why are there limited options to buying Litecoin using other altcoins?

The issue in all crypto markets is liquidity. As the space gets bigger, the liquidity also gets better. But as of now, the only VERY liquid cryptocurrency is Bitcoin. So exchanging two altcoins between each other is often harder than if BTC was involved on one side of the trade.

How much is a Litecoin worth?

Like all currencies, the value of Litecoin changes every second. The value of Litecoin also depends on the country you are in and the exchange you are trading on. You can find the most up to date price on Coinbase.

How do I buy Ripple (XRP) with Litecoin?

The best way to buy Ripple using Litecoin is to either use a non KYC exchange like Cryptmixer or start an account on Binance or Coinbase Pro and sell your Litecoin for Ripple. Look for LTC/XRP trading pairs, and make your trade.

How long does Litecoin take to confirm?

Litecoin blocks are added ever 2 and a half minutes. That means you should get one confirmation every two and a half minutes. This can vary if it takes miners longer to discover a block, but the difficulty of the finding a block should change proportionate to the hashing power on the network so that a block gets added approximately every 2.5 minutes.
If you are trying to send money to a merchant, they may require more than one confirmation before they send you products. If you are depositing on an exchange, they may also require three or more confirmations before they credit your account.

How many Litoshis make one Litecoin?

one hundred million (100,000,000) Litoshis make one (1) Litecoin.

Where do I store Litecoin?

The best place to store litecoin is on a hardware wallet. You can find the best one for you on our page dedicated to hardware wallets.

When is the Litecoin halving?

The expected date of the next Litecoin block reward halving is August 7th, 2023.

Why can litecoin take so long to buy?

Litecoin can take long to buy because the legacy banking system is very slow. If you are buying with another cryptocurrency, you will see how fast it is to buy!
Bank transfer in the USA, for example, take about 5 days to complete. So any purchase of Litecoin made with a US bank transfer will take a minimum of 5 days.

How do I buy Litecoin with Paypal?

Unfortunately, there is no easy way to buy Litcoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case.
You can, however, now use eToro to buy Litcoineum, unless you live in the United States.
If you live in the US, the only way to buy Litcoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litcoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Cryptmixer to swap the Bitcoin for Litcoin.

Can you buy partial litecoins?

Yes, litecoin, like Bitcoin, is divisible to many decimal places so you can buy 0.1 LTC, 0.001 LTC, etc.

Can you sell litecoin?

Yes, you can sell LTC on most of the exchanges mentioned above. The fees, speed, and privacy is the same in most cases.

Can anyone buy litecoins?

Anyone is free to buy litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in litecoin, too.

Which payment method is best to use?

For speed, credit card will likely be fastest. For larger amounts, bank transfer is best. For privacy, it’s best to buy bitcoins with cash and then trade for litecoins using Cryptmixer or Shapeshift.

Is it better to mine or buy litecoins?

If you have cheap electricity, it might be worth it to mine litecoins. If you have solar power or just want to mine for fun then it could be worth it. Otherwise, it’s probably better just to buy.
Mining is constantly changing and small changes in Litecoin price or electricity can greatly affect your profitability.

What should I do with my litecoins once I buy?

You should immediately move your litecoins into a secure wallet. You should never leave your litecoins on an exchange. There have been countless hacks in cryptocurrency since Bitcoin was created in 2009. Hundreds of thousands of people have lost money. So buy your litecoins, and then instantly send them into a wallet you control so you are not at risk of losing money to a hack or scam.
submitted by MonishaNuij to MonMonCrypto [link] [comments]

Top-5 Ways To Buy Bitcoin Instantly

The choice of the optimal ways to buy Bitcoin depends on three factors: how much information you want to disclose, what is the amount of the transaction and what level of security you require. However, it is almost impossible to comply with all 3 factors. So, what is the best way to buy Bitcoin?

1. Stock exchange

The best way to buy crypto is to use an exchange (Binance, Coinbase Pro, Huobi Global), where one can sell and buy digital currency from other investors. The price is set manually. In this case, the commission charged by the intermediary will not exceed 1%. The exchange provides anonymity since you don’t need to provide your ID in most exchanges. There are several options for transactions:
If you want to know how to begin investing in Bitcoin, start studying stock exchanges.

Pros:

Cons:

2. Exchanger

A crypto exchanger (Localbitcoins, Lykke, F-change) allows exchanging fiat or other tokens for BTC according to a fixed rate. It is probably the easiest way to buy crypto. The service adds a commission higher than that on the stock exchange.

Pros:

Cons:

3. ATMs for BTC

ATMs for Bitcoins only enter the market. It is enough to have the necessary amount of cash to be able to exchange it for the equivalent in BTC. Such a transaction is instant and does not require registration or other formalities. There are now over 8500 BTC ATMs around the world.

4. For cash with individuals

A hand-to-hand sale is the most private and most insecure way to buy cryptocurrency. It is lucky if you know reliable miners or crypto businessmen. Rent, salary, taxes – all this requires ordinary money, so they constantly have a need to sell mined or earned cryptocurrency. Pros – maximum anonymity of transactions. Cons – risks from dishonest partners.

5. Telegram bots

Telegram bot is an automatic script based on the search for offers and counteroffers. If someone wants to sell BTC, they send a request to the bot and it looks for a counter offer. As soon as someone sends a request for the purchase of Bitcoin, the bot will complete a transaction between these two users.

Pros:

Cons:

Disclaimer

While talking about the ways to buy Bitcoin, it is important to mention that this article doesn’t provide any advice and directions regarding the investments in particular cryptocurrencies and pursues only informative purposes.
submitted by CoinjoyAssistant to btc [link] [comments]

51% attacks are morally justifiable

In this short post I want to set out my case for the moral justifiability of 51% attacks against proof of work cryptocurrencies. In the past, a 51% attack was a theoretical construct that most people didn´t seem to think would be practically achievable or lucrative. This has now changed, as hashpower can be rented on sites like Nicehash and Mining Rig Rentals for a few hours at a time. The attack delivers the attacker two prominent opportunities:
-You can orphan blocks of ¨legitimate¨ miners. This essentially means that whatever work was produced by legitimate miners during your attack became worthless. Mine a secret chain of two hours worth of blocks, release it and you orphaned 2 hours worth of blocks by your competitors. By the time most of the miners have noticed their blocks were orphaned in an attack, their nodes will have been automatically mining on your own chain for a while and it will be too late for them to do anything about it. The amount of money they lost would be equivalent to the amount you had to spend to produce your chain. Because mining is an industry with tight margins, the economic impact on these miners can be very big. The cost may be sufficient in case of a very long attack, to persuade them to quit their endeavor and get a real job.
-The more important opportunity is that you´re able to double spend your coins. This is potentially, incredibly lucrative. How lucrative it is tends to depend primarily on the inflation rate of a cryptocurrency. A low inflation rate means relatively little ¨work¨ is done to maintain the security of the system. A high inflation rate on the other hand, turns the cryptocurrency into a very poor long-term investment. As a consequence, most cryptocurrencies face declining inflation rates, that delay the problem of their ultimately unsustainability into the future. The bank of international settlements explains this issue here.
When it comes to the moral justification of a 51% attack, we first have to ask ourselves why proof of work is morally unjustifiable. There are two main reasons for this:
-Proof of work has an enormous environmental impact, that ensures future generations will have to deal with the dramatic consequences of climate change. There is no proper justification for this environmental impact, as it delivers no clear benefits over existing payment systems other than the ability to carry out morally unjustifiable actions like blackmail.
-Proof of work is fundamentally unsustainable, because of the economic burden it places on participants in cryptocurrency schemes. Cryptocurrencies can´t produce wealth out of thin air. The people who get rich from a cryptocurrency becomes rich, due to the fact that other people step in later. In this sense we´re dealing with a pyramid scheme, but the difference from regular pyramid schemes lies in the fact that huge sums of wealth are not merely redistributed, but destroyed, to sustain the scheme. The cost of the work to sustain the scheme is bigger than you might expect, because the reality is that relatively little money has entered bitcoin. JP Morgan claims that for the crypto assets at large, a fiat amplifier of 117.5 is present, as a purported $2 billion in net inflow pushed Bitcoin’s market capitalization from $15 billion to $250 billion. You have to consider that the Digiconomist estimates that $2.6 billion dollar leaves the Bitcoin scheme on an annual basis, in the form of mining costs to sustain Bitcoin. The vast majority of retail customers who entered this scheme ended up losing money from it. In some cases this lead to suicides.
The fact that proof of work is morally unjustifiable doesn´t directly lead to a moral justification for a 51% attack. After all a sane society would use government intervention to eliminate the decentralized ponzi schemes that are cryptocurrencies. There are a few things that need to be considered however:
-Governments have so far failed in their responsibility to address the cryptocurrency schemes. Instead you tend to see officials insist that proof of work might suck and most cryptocurrency is a scam, but ¨blockchain technology¨ will somehow change the world for the better. Most libertarians who saw these schemes emerge insisted that it´s stupid to participate in them because the government would eventually ban them and round up the people who participated in them. This didn´t happen because of the logistical difficulty of suppressing these schemes (anyone with an internet connection can set one up) as well as the fact that suppressing them would lend credence to the anti-government anarcho-capitalist ideology on which these schemes are based. Goverments might say ¨these schemes facilitate crime, ruin the environment and redistribute wealth from naive individuals to scammers¨, but anarcho-capitalists would insist that governments have grown so tyrannical that they want to ban you from exchanging numbers on computers.
-Because cryptocurrency is fundamentally an online social arrangement, governments have very limited influence over the phenomenon. Binance seeks to become a stateless organization, not subject to the jurisdiction of any particular government. Just as with regular money laundering and tax evasion that hides in small nations that can earn huge sums of money by facilitating these practises, governments are dependent on the actions of individuals to address these practices. Whistleblowers released the panama papers and the tax evasion by German individuals through Swiss bank accounts. Through such individuals, the phenomenon could be properly addressed. In a similar manner, cryptocurrency schemes will need to be addressed through the actions of individuals who recognize the damage these schemes cause to the fabric of society.
-The very nature of a 51% attack means that it primarily punishes those who set up and facilitate the cryptocurrency scheme in the first place. The miners who pollute our environment to satiate their own greed are bankrupted by the fact that their blocks are orphaned. The exchange operators are bankrupted due to double-spend attacks against the scams that they facilitate. When this happens, the cryptocurrency in question should lose value, which then destroys the incentive to devote huge sums of electricity to it.
Finally, there´s the question of whether 51% attacks are viable as a response to cryptocurrency. There´s the obvious problem you run into, that the biggest and oldest scams are the most difficult to shut down. In addition, cryptocurrencies that fell victim to an attack tend to move towards a checkpoint system. However, there are a few things that need to be considered here:
-51% attacks against small cryptocurrencies might not have a huge impact, but their benefit is nonetheless apparent. Most of the new scams don´t require participants to mine, instead the new schemes generally depend on ¨staking¨. If people had not engage in 51% attacks, the environmental impact would have been even bigger now.
-51% attacks against currencies that implement checkpointing are not impossible, if the checkpoints are decentrally produced. What happens in that case is a chain split, as long as the hostile chain is released at the right time. This would mean that different exchanges may get stuck on different forks, which would still allow people to double spend their cryptocurrency.
-There are other attacks that can be used against proof of work cryptocurrencies. The most important one is the block withholding attack. It´s possible for people who dislike a cryptocurrency to join a pool and to start mining. However, whenever the miner finds a valid solution that would produce a block, he fails to share the solution with the pool. This costs money for the pool operator, but it can be lucrative for the actor if he also operates a competing pool himself. In the best case it leads to miners moving to his pool, which then potentially allows him to execute a 51% attack against the cryptocurrency.
-It´s possible to put up a 51% attack bounty, allowing others to do the work for you. This works as following. You make transaction A : 100 bitcoin to exchange X, for a fee of 0.001 BTC. Once this transaction has been included in a block, you immediately broadcast a conflicting transaction with another node: You´ŕe sending those 100 bitcoin to your own wallet, but you´re also including a 50 bitcoin fee for the miners. The miners now have a strong incentive to disregard the valid chain and to start mining a new chain on an older block that can still include your conflicting transaction. Provided that pool operators are rational economic agents, they should grab the opportunity.
-Selfish mining in combination with a Sybil attack allows someone to eclipse the rest of the network, while controlling less than 51% of the hashrate. Your malicious nodes will simply refuse to propagante blocks of your competitors, thereby giving you more time to release your own block. Selfish mining will always be possible with 33% of the hashrate and as far as I can tell there are no pathways known currently to make the scheme impossible for people with 25% of the hashrate. This potentially makes a 51% attacks lucrative without having to carry out double-spend attacks against exchanges. Although double spending is a form of theft, it´s not clear to me whether a selfish mining attack would get you into legal trouble or not.

Conclusion:

The dreaded 51% attack is a morally justifiable and potentially lucrative solution to the Nakamoto scheme.
submitted by milkversussoy to Buttcoin [link] [comments]

r/Bitcoin recap - March 2018

Hi Bitcoiners!
I’m back with the fifteenth monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
And a lot has happened. It's easy to forget with so much focus on the price. Take a moment and scroll through the list below. You'll find an incredibly eventful month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in March 2018
submitted by SamWouters to Bitcoin [link] [comments]

What coin is your "sleeper" coin that has a promising future?

Thank you all for sharing! A summary of results and findings to be posted here within 24 hours!
Update 9/2/17 (Not organized):
Mentions:
2 Tierion, 7 Vertcoin, 2 Pied Piper, 9 ARK, Binance Coin, 2 LoMoCoin, OMG, 17 District0x, 7 Monero, 8 IOTA, DeepOnion, 5 Agrello, 10 Factom, 1 Metal, *3 Nexus, NoLimitCoin (NLC2), Ember, 4 signatum, 4 Funfair, 3 Rise, groestlcoin (grs), bitquark, 2 bitquence (BQX), bitsend, 5 nav, datum, 2 0x exchange (zrx), 3 BAT, 2 Peercoin, 1 bytom, sys coin, 2 sia, 1 stox, 2 tenx, 2 decred, 3 ripple XRP, oxycoin, 4 OMG, 2 IOC, 3 ASCH, Oxycoin, 2 Lisk, 3 *Zcoin, 2 BLOCKNET, komodo, 2 pivx, game, mgo, linx, viacoin, xspec, qrl, voise, *bitbean, bitbay, 3 ubiq, 3 iconomi, 2 taas, bet, shift, crown, *singulardtv (sngls), myst, maidsafe, synereo, particl, 2 *cat, nem, lykke, *adex (adx), 2 verge (xvg), *raiblocks (XRB), suncontract (SNC), *diamond (DMD), mooncoin, *cloak, walton (WTC), counterparty (XCP), sickcoin, MEMETIC, wild beast block (WBB), civic, ponzi, biblepay, gene-chain, aragon, gulden, byteball, patientory, 2 stellar lumens (XLM), qtum, EOS, WBC, 23 skidoo, stealthcoin, digibyte, coss ico, dobbscoin, opus (OPT)
Tierion: FCT competitor Vertcoin: lightning network & Atomic swaps, longterm mining drama solution via asic resistance useful 3-5 years from now, ltc fork. "If I understood LN + atomic swaps correctly, I can see BTC users atomic swapping to the ridiculously cheap VTC chain to transfer their coins to the intended party, then that party swaps back to BTC later. I mean, this is what I would do if the fees made sense. While this might take away some utility from LTC, few people know about VTC, and the total of both coins (2 x 84 million) will never be enough for the world if you take future growth and adoption into consideration." - corpski Pied Piper: those guys fuck ark: easy way to build blockchain apps, no good marketing yet, so will be big after that Binance Coin: Binanc exchange's coin LomoCoin: Chinese pokemon go geocaching app with new v2.0 coming out OMG: Best way to spend your crypto, will be around despite success of any crypto *Agrello: Legal stuff Factom: Adopted and funded by bill gates, DHS, used in the real world, few other competitors with this much current use. probably slow but steady growth though with better utilization of blockchains. Metal: consistenly doubled ~every month, new signatum: "About to get PoS, a roadmap that is being quickly ticked through and constant development. Dedicated and fair. It's a literal steal right now and once people realise staking will just make money for them, the more holders and the less sellers, unlike now with many miners selling. It's reliable and honest, a fresh reality in the ICO scam filled marketplace. " -skeetskeet172 Nexus: "former spacex founders launching cube-sats around the world to decentralize the dectranlization" -Raynre + soon to boom after conference ~mid september Rise: lisk copy warnings district: "once the masses adopt and wrap their heads around the idea of ethereum and other app based platforms, they'll need a way to implement into real world applications. E-commerce, social platforms, blogs that pay directly for views, etc. DNT is paving a way for everyone (without programming knowledge) to take part in the decentralization world. In my opinion this is huge for the long run." - sdot123 *Bitquence: bring investments to the masses Nav: Polymorph and staking, risky but ambitious 61,000,000 limited supply, ~flavor of month in december. zrx: can't find a good reason why this decentralized exchange will succeed and purpose of the token? BAT: founder of javascript despite the sour ICO Peercoin: long long history of failures and innovation but not giving up bytom syscoin: merge mining with bitcoin tenx: omg partnership, few credit cards, backed by vitalik decred: open structure, governance, only vote for a hard fork ripple: $5+ trillion transferred using SWIFT, $50 mil FEDWIRE, 1.5 bil on CHIPS ASCH: any coding language side chain creation, very active big team, pending big exchange approval bitbean: due for name change soon, staking, funny/moniker name (bean) zcoin: better than zcash/monero once roadmap is done: better POW, incentivizd nodes, trustless setup, permanent anonymous addresses, faster times, currently only $35mil market cap, used bitcoin code, asic resistant bitbay: valued <5x sys coin competitor, novel rolling peg, pos, dedicated underdog dev who was screwed over by his own team shift: decentralize the web crown: digital commodities, and more, neither POS or POW but ATOMIC in 1 month CAT: Creating ethereum smart contracts visually raiblocks: is like IOTA, close to coming to bittrex, 0 transaction fees suncontract: buyign and selling electricity. Will eb used for solar market.. Really good cause! mooncoin: in one year cloak: closed source, said to be better than monero/dash when goes open source *walton: NEW, chinese site but patents and samsung vp on board, patents for integration of iot and rfid and blockchain, only one binance right now and will balloon afterwards, https://twitter.com/Waltonchain counterparty: extends bitcoin to create assets *MEME: blockchain secured images. but how do they afford image hosting costs? wild beast block PonziCoin: definitely not a ponzi scheme of sorts... biblepay: religion ftw gene chain: sleepiest sleeper of sleepers. a very very specific sue case in bioinformatics, made first node sale to a genomics lab and about to publish a paper soon. gulden: send money but every new user causes gulden value to go up. can buy with cash on website right now. ubiq: said to be throttled by bittrex/killed. *OPUS: NEW
submitted by mannanj to CryptoCurrency [link] [comments]

r/Bitcoin recap - May 2019

Hi Bitcoiners!
I’m back with the 29th monthly Bitcoin news recap. (sorry a bit late this month)
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in May 2019
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

[PLEASE READ] ZClassic > BitcoinPrivate Snapshot/Fork Frequently Asked Questions (FAQ) MEGATHREAD 2.0

I’ve been seeing a lot of repeated questions being asked every day so an updated FAQ/Megathread to address all of those questions will be detailed here. If we are missing something, please feel free to let us know and we will add it. We will try to edit this posting as more information becomes available.
Keep in mind the official Bitcoin Private Support portal has now been launched. We have a live chat feature to chat with support, as well as a knowledge base. Please visit the portal at support.btcprivate.org and use the knowledge base’s search function before asking other users.
Snapshot/Fork FAQ
Claiming BTCP Coins
BTCP/ZCL Exchange and Wallet Support
Donations and Contributions program
BTCP Mining
Wallet Troubleshooting
Miscellaneous/BTCP Project Questions
Donate towards the BTCP contribution team, Your donations are 100% voluntary but they are much appreciated!
ZCL: t1gsePJZ6ojJYygj3PWMGJfojPUoMd5AVfU
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BTCP Related Important Links
For the official list of links from the BTCP Github, refer to the repo.
Just a re-iteration, the BTCP team has launched the support portal offering resources ranging from live support from our teams, as well as a knowledge base that is constantly being updated. https://support.btcprivate.org Again, please feel free to let me know any questions that’s not currently listed above and we will do our best to answer and include it in the megathread.
submitted by BestServerNA to ZClassic [link] [comments]

Membrana for me is a.... OR the story of how I got involved in a crypto world BY VOLTRON

Probably, today there is no person in the world who at least once in his life has not heard about Bitcoin.
I also heard about it before, and more than once. But at the same time, I never thought about the fact that ever in my life I will have at least some direct or even indirect relation to him.
The maximum that I could say or think when I heard the next news about the rise in the price of bitcoin - "Oh, I would have at least one bitcoin now."
At the moment, I would not refuse to have bitcoin, and not one, but many. And such phrases fly out from me no less than 2-3 years ago. But unlike that period, now I have a direct relationship to all kinds of manipulations related to both bitcoin itself and crypto in general. - How did I get to this? - you would ask - Quite easy.
Mostly, it seems to me that about making money in the crypto may think a person who either really needs money or who has an overabundance of them, although here I admit that I could be wrong. Nevertheless, I consider myself to be the first group of people who climbed into the crypto world due to a lack of money.
Everyone struggles with a lack of finance in their own way, depending on what they can and what they can’t Someone works at once in three jobs, someone steals, someone works and steals at the same time (but this is a completely different story about politics). Someone, like me, is looking for any other alternative, since working on several jobs is not an option, and education does not allow us to steal.
All in all, one day I decided to knock on the world of crypto. Since I Knocked, the first thing I realized is that there are three ways to get some crypto: - mining; - trading on exchanges; - And, perhaps, the most suitable option for the “newbie” is airdrop.
Exactly with airdrops, I got started my crypto way. Almost during whole first half a year of communication with the world of the crypto industry, I completely devoted to the indiscriminate absorption of everything that came across in my way: airdrops, cranes, spinner, cloud miners, etc.
It would be superfluous to say that 95% of everything that I downloaded, launched and used was outright swindle and fraud. But, those remaining 5% still turned out to be worthy of attention and projects spent on them. One of these airdrops was Membrana.
I stumbled upon it quite by accident, on one of the aggregator sites. I didn’t have any particular hope that this was not just another scam, but I decided to try it all the same.Registered, launched the corresponding bot in Telegram. Fulfilled all the requirements specified in the instructions. I even invited a referral. And with a calm soul, I continued my wanderings in search of other "profitable drops"
Honestly, I even forgot that I used to register there, but by chance, I saw an announcement on the Telegram channel about the following contents: $ 100 for trading on Binance to those who sign up and go through KYC. I had to go through verification. Out of inexperience, I "messed up" something there. I contacted support for help. They reacted promptly. Helped. As a result, verification passed and was among the participants in the tournament called Global Traders Competition.
The essence of the competition was that traders had to trade real money on the platform itself and earn (depending on their success) tournament points. At the same time, the entire profit that the trader earned in one round (1 week) was divided in half by the platform and returned to the trader's account 50% of the amount. That is, from the philistine point of view - an excellent "freebie."But 50% of the profit per week is only part of what the platform offered in the tournament.
The main goal and the tidbit, of course, are the prizes in the ranking of traders.It was announced that after the end of the tournament, all tournament points will be converted to MBN tokens and sent to the addresses of the participants. And besides this, the top 20 traders, according to the results of the tournament, will divide between themselves $ 100,000 also in the form of MBN.
With varying success, I wandered up the tournament ladder now and then. There were periods when I occupied a leading position right up to the first place. Profit for some rounds reached (crazy by my standards) 40 +%. Toward the end of the tournament, as is usually the case in my life, by all the laws of meanness and Murphy, I went into a big minus. This entailed suspension from participation for the whole round. There was another similar nuisance, and as a result, at the end of the Global Traders Competition, I took an offensive 22nd place, not reaching the top 20 only two steps.
This fact did not upset me slightly. I even thought of quitting this business and completely switching to something else. But, suddenly, sometime after the end of the tournament, a member of the Membrana team wrote to me and offered to take part in a trial run of their first round of Community Operated Fund. That is, almost the same as in the tournament, but with the money of real people and the platform itself, too.
Of course, I agreed. And so, at the moment I am engaged in the fact that I trade on a cryptocurrency exchange using investor funds. This is an amazing opportunity for those people who themselves do not have enough resources to at least somehow heavily invest in the exchange. But as a member of the Membrana platform, each person (interested in crypto) has the opportunity to establish cooperation with investors willing to invest in your skills and abilities and earn another penny on this.
Joining Membrana is a best way to join crypto world wether you are an investor, newbie that’s just starts it way or you are a trader willing to get new opportunities and Trust management contracts of crypto assets
Original text link ( Russian): https://teletype.in/@voltron/SylQwvHcB
submitted by Membrana_Platform to u/Membrana_Platform [link] [comments]

BitMax.io & Lambda Joint AMA

BitMax.io & Lambda Joint AMA
George Cao :Let’s welcome lambda team . Xiaoyang and Lucy
Lambda: Hello friends from BitMax ~~ I am Lucy Wang, Co-founder and CMO of Lambda. I am very happy to e-meet with you here and thx for George's invitation. I on behalf of Lambda wish all of you a merry Christmas and prosperous new year in 2019
George Cao: Great. I am a bit surprised to see a big volume day yesterday Christmas. Seems our users didn’t take a break even on holidays :)
Lambda: I'd like to take this opportunity to introduce myself first, I have over 14 years of progressive career development with global leading enterprise software / service organizations as well as VC-backed start-up ventures, including HP, Oracle, and SAP. Before Lambda I was CMO/GM at two enterprise SaaS start ups in China backed by top VCs.
And my partner Mr. He Xiaoyang, who is the founder of Lambda, he is a well-known expert in infrastructure and open source software in China. Prior to Lambda, he was the co-founder of OneAPM, a fast-growing infrastructure software focusing on ITOM (IT operation management) in China. OneAPM is known as the “New Relic or AppDynamics of China” and the company has received strong VC backing from Matrix Partners, Chengwei Capital, and Qiming Venture. Prior to his entrepreneur experiences, Mr. HE worked at BEA as a R&D software engineer. In addition, Mr. HE is also a blogger with strong following in China and some of his articles have been published by major media such as Forbes China, 36Kr, Sina, etc.
Lambda idea was born at the end of year 2017 and the product development started from the beginning of 2018. Now let me talk about Lambda idea and what we do
Lambda, is the leading decentralized infrastructure project providing secure, reliable, and infinitely scalable decentralized storage network that enables data storage, data integrity check, security verification, and marketplace for storage-related services on the Lambda Chain Consensus Network.
In recent years, there have been frequent data leakage problems in major Internet platforms at home and abroad, and even business giants such as Facebook and Marriott have not been spared. Returning the value of data to data owners is an inevitable trend in line with human pursuit of freedom. The block-chain technology with P2P features provides an opportunity for this, and this area will be highly valued by the industry in the next few years. Lambda is the only provider of block-chain storage infrastructure projects in China. It is sometimes referred as “File-coin of China”or “File-coin 2.0”.our vision is to return the value of data to the data owner, with this vision in mind, our mission is to promote the decentralization of the Internet, with the goal of creating a storage infrastructure for the next generation of block-chain.
After the Lambda project launch in early 2018, it has received strong support by well-known strategic and financial investors including Bitmain, Viking Capital, FBG Capital, Bluehills, Zhen Fund, FunCity Capital, Ceyuan Digital Fund, BlockVC, INBlockChain, DATA Foundation, Bitcoin World, Reflextion Capital, etc. To date, Lambda has received investment funding in excess of $10M.

https://preview.redd.it/ynaos7rps2721.png?width=1267&format=png&auto=webp&s=77360b7cdf06c288e8c25675f94f5fb9d3d02137
n all the existing decentralized storage projects that are aiming to give a solution to this problem worldwide, Lambda is the first ever to announce its LPDP ( Lambda Provable Data Possession )
George Cao: I see we share several investors in common, So 2019 q1-q2 will be a big milestone for lambda
Lambda: Provable Data Possession (PDP) and Proofs of Retrievability (POR) are critical to efficient decentralized data storage and its implementation, which is the essential difference between centralized network projects and real decentralized storage. Prior to Inter-planetary
File System (IPFS), Lambda launched its minimum viable product (MVP) of core functions in the third quarter of 2018, and has been continuously upgrading and optimizing this in block-chains in a multi-role environment.
File-coin is our main competitor, here is a chart shows the progress comparison FYI

https://preview.redd.it/ewmyh9tqs2721.png?width=1267&format=png&auto=webp&s=cddc52a6d613196f6c0cbf870da42a5b82a8aaa6
For those who have interest to know more about Lambda's technical innovations, they can be find in our keep updating FAQ document posted on Medium, and I copied her FYI
1.Innovatively designed the Validator role which provides verification service for storage proof and the Validator replaces storage miner as the full-time storage proof result verifier, this greatly improves the performance of the storage and retrieval system.
2.In response to the limitations of the PDP algorithm, Lambda innovatively created a consensus network on the block-chain and used the validators role to replace the "TPA" in the PDP algorithm.
3.Innovatively modified the PDP algorithm from synchronous to asynchronous communication, which greatly reduces the communication traffic for Challenge in the system. Use of chain data as a random seed for storage miners to issue Challenge themselves addresses the randomness of TPA challenges.
4.Innovatively upgraded the PDP algorithm from periodic verification to a verification set generated by the miners to submit the verification result at one time, and fully realize the Proof-Of-Space-Time verification.
on top of all the technical, Lambda creates a consensus network where data can be stored, storage space can be rented on the basis of a marketplace built on block-chain.
In the Marketplace, the transaction process is: storage miners pledge hard disk sectors to the consensus network, and place orders and sell their own storage space in the Marketplace; storage users initiate purchase requests, complete the matching of storage requests through the Marketplace, and store data in the space of the storage miners.
Different from other block-chain applications, Lambda is a storage mining project, we have miners mine on Lambda network. Earn LAMB tokens by contributing on the network, and users who have data storing requirements pay Lamb tokens to purchase services accordingly.
The price of Lamb token not only rely on the exchanges but also supported by our miners who are doing works on the network.
There are four roles in the Lambda mining network: storage miners (providers of storage space), verification miners (ensuring the integrity and security of data and packaging transactions), retrieval miners (providing download bandwidth), and users (storage buyers). 1024 verification miners promoted from storage miners constitute the Lambda-chain consensus network. So you will see three types of miners serve our users from all over the world.
The key milestones we are looking at is the launch of test-net, where miners can start mining and earn testing Lamb tokens, the date will be around end of Jan. 2019 and main network will go live in Q2, 2019, most likely in Apr.
Regarding our partnership, In the academic field, we have established a strategic partnership with Beijing Institute of Technology (BIT), which is well known in China for its engineering and computer science research programs, to conduct research into centralized storage.
In the commercial field, Lambda has established a strategic collaboration with IOST, a well-known public blockchain project, and Perlin, a super computing platform, and started to conduct pilot projects for decentralized application (DAPP) companies such as DATA and BCV. Lambda also has close ties to many leading Internet data centers (IDCs) in China. They join the Lambda network as miners and take advantage of their surplus server capacity to engage in the Lambda network ecology.
Q: Will the rest of the code be open sourced? If so when ?
Lambda: we have released the codes of core function module, the test net codes will be released gradually in Jan. pls stay tuned with our official github
Q: What can Lamb tokens be used for?
Lambda: Lambs are tokens in the Lambda ecosystem, which are mainly used in the following scenarios:
A. Users of services in the Lambda ecosystem have to pay with Lambda tokens.
B. Providers of storage services in the system have to pledge a certain number of tokens.
C. Verification nodes in the system have to pledge a certain number of tokens.
D. Verification nodes can obtain a certain number of tokens as accounting rewards.
E. Storage nodes get a certain number of tokens based on their storage capacity and their service level agreements (SLAs).
F. Other roles in the Lambda ecosystem can also obtain a certain number of tokens based on their contributions.
Q: What more incentives does miner gets to mine or rent storage on Lambda?
Lambda: every miner stars from storage miner on Lambda network, they get paid by providing storage space, when their business getting bigger, system will select the top 1024 storage miners and promote them to validator, who will get block generation rewards from system.
Q: how are the 1024 miners selected? Doesn't this become more centralised?
Lambda: we did a survey to the Chinese miners, they mainly fall into two groups, either are waiting FileCoin to go live with purchased mining machine idle at home or they are doing hard drive or graphic cards mining, which has a high requirement to the hardware standard. To mine on Lambda, you need a mining machine ( computer ) that has big storage space ( because the bigger the higher probability you'll be promoted to be a validator ) and the connection to the internet
Q: How much is initial supply?
Lambda: Lambda did two rounds of fund raising, private investors have a lock up terms of 2+4+4 meaning the first 20% of tokens will only be released 2 months listing on exchange. so on the day one listing till 2 months there will be only around 0.5% initial circulation, and after 2 months, 5% in total. in addition to that, as we are recruiting miners to join our network, actually ppl have been in a situation where they can't wait to mine on our testnet. with the mining mechanism we have, miners need to buy Lamb token to get their mining work started, because a certain amount of pledge need to be made
Q: What partnership will lambda and bitmax have in the future?
Lambda: We value the way BitMax doing things and care about projects, we feel like we found the right exchange to be listed, in particular an initial listing. we will work with BitMax and do some joint campaigns to boost the community
George: We have great chemistry with lambda team.
Q: And are you still primary list in there, I heard the list was delay? Is it related to Huobi?
Lambda: you are right, it is related to Huobi, but one thing you can be assured of is that our initial listing on BitMax wont change, but most likely a joint listing with Huobi.
Q: what about the time of primary list?
Lambda: we will primarily list very soon, we are targeting end of this week, now we are in the middle of some technical integration with Huobi
George: We can assure everyone that our team will do our best to protect our investors and serve our listing projects. The promise does not change whether or not if we co-list with huobi.
Q: We get reward to mine ? Any incentive? For testnet
Lambda: Yes, you have two ways obtain Lamb tokens, buy from exchange and earn more from mining, but firstly you have to buy Lamb on BitMax haha. Are you asking the reward from testnet by mining on it? yes, you will get test Lamb token, and they can be redeemed to Lamb token with a ratio that will be specified shortly. on Lambda official website www.lambda.im, we have whitepaper, besides that we also have economic whitepaper to explain how the lambda economic system runs, on Dec. 28 we will launch our yellow paper where we will demonstrate the detailed technical realization and all the parameter setting for mining on Lambda
Q: What are the implications if a miners rig goes offline or they decide to stop?
Lambda: If miners rig goes off, they will not get the reward from the corresponding generated block, if they do cheating there will be punishment from the system, and if they decide to quit, the pledge will be returned
Q: Lambda planning to have own FS?
Lambda: Yes, FS and consensus network is separate. validators and marketplace are on the consensus network, while Files are in the File System.
Q: Is Lambda GDPR friendly?
Lambda: yes, we are
Q: Hi can u explain what’s the requirements of decentralized data . Do You think big companies will like to use lambda services .... or it’s for medium level enterprises as big companies will go for their in house system with their reliable nodes ...
Lambda: this is a good question, from I seeing it, ppl call out the protection of privacy, it is a trend and it takes steps. Lambda has two big groups of prospects users, one is DAPPs, another is the general industries such as big data, AI, IoT, Games, Financial, etc, as long as they need massive data storage demand, Lambda has the opportunity, data storage is expensive, especially when we are talking about big data, a lot of companies will value the cost in this area very much. currently we have lighthouse customer like DATA, BCV, VVshare, in the very near future, a game that is developed by Lambda team will also go live on Lambda network. from the BD perspective, Lambda will create a satellite network ( you can take it as channel network ) to bring us customers, we have a few reaching out to us already
Q: Why suddenly launched on Huobi
George Cao: I believe lambda team has its own consideration. Projects esp in bear market are facing pressures from different parties. Investors users exchanges. Not everything is under projects control. What we can do as an exchange is to stand by our partners and fully support them down the road
Lambda: thx for the answer
Q: I think you have made a great choice working with bitmax. Bitmax have really helped push new
coins and their site in general with good PR, marketing and reward/airdrop promotions
Lambda: strongly agree with you
Q: GDPR has taken over the EU and the UK so that is very important
Lambda: you are right, so we see to be GDPR friendly, which is one of our differentiator from FileCoin
Q: Being GDPR friendly , European market is a go for lambda
Lambda: I have this plan to develop European market by having a Raspberry program, it is still in planning.
George Cao: Let’s take a last question and move to lambda community:) And as usual we will pick 3 best questions. We will send out 1000 800 and 500 btmx. @lambda do you want to pick 3 questions ?
Q: Recent partnerships are interesting , can you tell us about coming q1 2019 both in terms of technical and marketing developments ?
Lambda: from Marketing side, we are focusing on Chinese miners community and potential European market ( like I said still in construction ) Korean market is another, and US market to go along our compliance path, Lambda has been strictly abide by the regulations. from technical side, the most important task we are targeting is the main network launch as planned
George Cao: Thanks everyone for your time. It’s a great ama as usual. We do have the best community. We will pick 3 winners and we will announce here after we finish ama in lambda community
Lambda: thank you all for your time to participate the AMA, I had a great time with you, see you friends and have a nice day.
George Cao: Hello everyone, Merry Christmas:)
Lambda: Hello Lambdos. Today we have George, the founder of BitMax to join us for the AMA. Let's give him a warm welcome to do a introduction of BitMax
George Cao: I am George Cao, founder of bitmax. I am happy to take the opportunity to talk to everyone here. Thanks to the lambda team. Let me start with a brief introduction about us.
Bitmax.io (btmx.io) is an exchange founded by a group of Wall Street veterans. Unlike most projects, we are kinda of old :) core team are in their 30ish - 50ish. The 10 founding member have combined of 150 years of Wall st experience. I have 10+ yrs of high frequency trading experience therefore I know the trading system well. That’s why our match engine can handle 400k tps per second vs huobi 1000 tps. We want to build an exchange that is transparent, robust, and efficient. While our system is the best in class, we offer the lowest trading fees. We believe the current high commission will not sustain and we will see consolidating of the exchanges with better depth and liquidity and lower commission. We are happy to partner with lambda, one of the best projects in 2018. We are committed to serve the project and the community. Alright, I am ready to take questions. Anything you can ask, as tough as you want :)
Q: Haha nice platform.
George Cao: Thanks. We are young as a platform but we are working to deliver the best
Q: I see reverse mining is new , I used many other mining exchange but all have normal mining . How does reverse mining works?
George Cao: Reverse mining is an innovative approach that helps the exchange and the project in several ways. 1) the concept of reverse mining is by providing liquidity to the exchange, you get a rebate and deduct out tokens from your account of the same valued. You can think of a otc sell our. 2) the benefit is it removes lots of sell pressure from the secondary market. And provides a strong support for the token price. 3) it introduces lots of liquidity to the exchange and benefits all traders
Q: The BTMX used in reverse mining are locked forever?
George Cao: Yes so the total number of tokens are always reducing your
Q: I've really been enjoying using the bitmax exchange so far especially with the low fees and data usage rewards. Does the exchange plan to bring in a shorting function in the near future?
George Cao: Yes we will have margin and futures trading
Q: It was supposed to December right ?
George Cao: We postponed our margin to Jan. The reason is we want to be more careful on protecting margin call protections.
Q: Margin trading and futures is important for BTMX price to drive up
George Cao: Totally agree
Q: Does BitMax have any activities on New Year's Day?
George: We do have multiple promotional events. Including but not limited to airdrops. Please visit our website and stay tuned
Q: I saw the whitepaper of bitmax, can you talk more about your dividends the formula is really hard for me ?
George Cao: Sure 80% of our commission goes to our fee pool. 1/180 of the total pool will be distributed daily. As long as you are a token holder, the current rate we pay is over 100% annually
Q: Oh I see, so the dividends will be smooth, great idea.
George Cao: Yes unlike other mining exchanges have huge volatility on div we smooth our curve
Q: I've also heard there is a mobile app in the works, is this likely to be released in the near future?
George Cao: Almost done. Beta version is in testing
Q: What about the north American, will it be available in the future?
George Cao: We more cleared our legal path for fiat trading in us. Q1 2019 we will launch in the us
Q: Great news I think this will bring a big volume.
George Cao: Yes agree. Our team is excited as well
Q: With promotional Airdrops that require a certain amount of the BTMX token to be held such as The lamb one that has taken place on the exchange this week. Are tokens that are locked for data usage or in cards taken into account when balance screenshots are taken?
George Cao: Yes we will take that into account
Q: When will be the private sale tokens be released ?
George Cao: As soon as we mined 90m we will start to release
Q: So let me get this right .. you give us FREE BTC and ltc and even Lambda EVERYDAY if we hold BTMX and agree to share our data
George Cao: Free usdt btc eth
Q: Wow. In a bear market, Free btc is the best thing ever
George Cao: We share revenue with our users, 90% is usdt. Not sure if you like it:)
Q: also consider adding coins like ADA and few from top 30. People need more coins
George Cao: We are adding stellar and zcash soon
Q: I heard they are insured Unless we give password to someone hehe
George Cao: Yes we are using custodian service
Q: George are our funds SAFU with you? Exchange insurance? I would say it is With the industry giants backing this exchange
George Cao: Sequoia matrix bitmain fbg dhvc are our equity investors
Q: What’s to stop People dumping BTMX token after free btc Or stop capital investor dumping on retailer
George Cao: They get it every day. Why would they dump? All equity investors can not sell on secondary market. They can only to reverse mining
Q: Will margin allow reverse mining instead of normal mining?
George Cao: Not initially
Q: People do irrational things when btc moves Or whales dumping, I heard there was a lock up token or something. To stop this
George Cao: We required lock our tokens to get rewards. You can request to unlock at anytime but it takes 24 hours to process
Q: Binance is developing DEX any plans for BitMax ?
George Cao: Not anytime soon we have a looong to do:)
Q: It's good you have dex in mind , with improved scalability in future maybe bitmax can build good dex
George Cao: Agree
Q: Retail investors are important , George knows it haha
George Cao: We care most of retails
Q: It would help if they also burned or locked tokens up
George Cao: Yes we permanently locked
Q: Seems you have everything thought of.. but how about moving to Malta?
George Cao: We priority US. Once us is clear pretty much everywhere is clear
Q: Doesn’t any exchange cover US right now?
George Cao: Coinbase but they have 0 international coverage and 0 client service
Q: What sort of systems are in place for abnormal/suspicious activity on the exchange?
George Cao: We prohibit self trading. For unusual trading behavior we ban the account and as for explain in the first violation. For continued violations we permanently ban the account
Q: can we get a glimpse of mobile application ?
George Cao: There is a beta version you can use but we are keep improving
Q: What are the precautions taken to prevent wash trading ?
George Cao: We have pre trade and post trade checksums. E.g we don’t just scan one account. We check or related account
Q: Will market orders and stop-loss orders be available in the future?
George Cao: Yes we are working on it
Q: what do you think of lambda project and community
George Cao: Lambda is definitely one of the best projects this year. We have been working with lambda for months and have lots of respect ion for the team. Community is also great very well organized. I didn’t talk much but I joined lambda tele group for a while. Great interaction
Q: So the trading starts at 8 pm ETC?
George Cao: It’s postponed. Please stay tuned for announcements
Lambda: We will make announcement giving out time and new date.
Q: when please? It's also more professional to be able to give dates and respect them
Lambda Cao: we are working hard and aiming the date of Dec. 29, pls stay tuned, thank you
George: Unfortunately bitmax and lambda don’t have 100% control of the date and time. Huobi is holding the ball
Lambda: The listing dates have been postponed and we don't want to give out a random date. I request you to have patience and wait for official announcement
Lambda: we will try everything to protect retails interest
Q: Can’t let houbi just arrive late to the party?
Lambda: in the long run we may need Huobi to help us better protect us all
George Cao: We trust lambda team can make the best decision for all investors
Q: Have you been busy with listing recently? Anything else?
George Cao: We have been working 24 hours a day including Chris eve :) Listing and app and margin and lots of new improvements
Q: Why would we need huobi with bitmax on our side.
George Cao: Trust me we are as upset. However as an exchange our mission is to serve projects and investors. Please join us in fully supporting any decision lambda team made. We have 100% confidence in lambda
Q: Are you familiar with the REKTbot and SYSTEM OVERLOAD problems at bitmex
George Cao: Yes but still bitmex is the best place to trade future compare with okex
Q: Slap that Hayes fool when bitmax start margin and futures..
George Cao: Haha i don’t want to declare war with them. Let’s be a bit patient :)
Q: Could bitmax handle That volume and not system overload
George Cao: We are 100% confident
George Cao: Alright i have to run for another meeting. It’s been a great ama. Thanks everyone. For any trading related questions please contact our client support. We promise to get in touch in 5 mins 7/24. Thank you all!
Lambda: thank you for participation, have a nice day!
submitted by BitMax_Support to BitMax [link] [comments]

r/Bitcoin recap - November 2018

Hi Bitcoiners!
I’m back with the 23rd monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in November 2018
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
Congratulations Bitcoin on about to be 1 Million subscribers! See you next month!
submitted by SamWouters to Bitcoin [link] [comments]

[PLEASE READ] ZClassic > BitcoinPrivate Snapshot/Fork Frequently Asked Questions (FAQ) MEGATHREAD 2.0

I’ve been seeing a lot of repeated questions being asked every day so an updated FAQ/Megathread to address all of those questions will be detailed here. If we are missing something, please feel free to let us know and we will add it. We will try to edit this posting as more information becomes available.
Keep in mind the official Bitcoin Private Support portal has now been launched. We have a live chat feature to chat with support, as well as a knowledge base. Please visit the portal at support.btcprivate.org and use the knowledge base’s search function before asking other users.
Snapshot/Fork FAQ
Claiming BTCP Coins
BTCP/ZCL Exchange and Wallet Support
Donations and Contributions program
BTCP Mining
Wallet Troubleshooting
Miscellaneous/BTCP Project Questions
Donate towards the BTCP contribution team, Your donations are 100% voluntary but they are much appreciated!
ZCL: t1gsePJZ6ojJYygj3PWMGJfojPUoMd5AVfU
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BTCP Related Important Links
For the official list of links from the BTCP Github, refer to the repo.
Just a re-iteration, the BTCP team has launched the support portal offering resources ranging from live support from our teams, as well as a knowledge base that is constantly being updated. https://support.btcprivate.org Again, please feel free to let me know any questions that’s not currently listed above and we will do our best to answer and include it in the megathread.
submitted by BestServerNA to BitcoinPrivate [link] [comments]

batching in Bitcoin

On May 6th, 2017, Bitcoin hit an all-time high in transactions processed on the network in a single day: it moved 375,000 transactions which accounted for a nominal output of about $2.5b. Average fees on the Bitcoin network had climbed over a dollar for the first time a couple days prior. And they kept climbing: by early June average fees hit an eye-watering $5.66. This was quite unprecedented. In the three-year period from Jan. 1 2014 to Jan. 1 2017, per-transaction fees had never exceeded 31 cents on a weekly average. And the hits kept coming. Before 2017 was over, average fees would top out at $48 on a weekly basis. When the crypto-recession set in, transaction count collapsed and fees crept back below $1.
During the most feverish days of the Bitcoin run-up, when normal users found themselves with balances that would cost more to send than they were worth, cries for batching — the aggregation of many outputs into a single transaction — grew louder than ever. David Harding had written a blog post on the cost-savings of batching at the end of August and it was reposted to the Bitcoin subreddit on a daily basis.
The idea was simple: for entities sending many transactions at once, clustering outputs into a single transaction was more space- (and cost-) efficient, because each transaction has a fixed data overhead. David found that if you combined 10 payments into one transaction, rather than sending them individually, you could save 75% of the block space. Essentially, batching is one way to pack as many transactions as possible into the finite block space available on Bitcoin.
When fees started climbing in mid-2017, users began to scrutinize the behavior of heavy users of the Bitcoin blockchain, to determine whether they were using block space efficiently. By and large, they were not — and an informal lobbying campaign began, in which these major users — principally exchanges — were asked to start batching transactions and be good stewards of the scarce block space at their disposal. Some exchanges had been batching for years, others relented and implemented it. The question faded from view after Bitcoin’s price collapsed in Q1 2018 from roughly $19,000 to $6000, and transaction load — and hence average fee — dropped off.
But we remained curious. A common refrain, during the collapse in on-chain usage, was that transaction count was an obfuscated method of apprehending actual usage. The idea was that transactions could encode an arbitrarily large (within reason) number of payments, and so if batching had become more and more prevalent, those payments were still occurring, just under a regime of fewer transactions.

“hmmm”
Some sites popped up to report outputs and payments per day rather than transactions, seemingly bristling at the coverage of declining transaction count. However, no one conducted an analysis of the changing relationship between transaction count and outputs or payments. We took it upon ourselves to find out.
Table Of Contents:
Introduction to batching
A timeline
Analysis
Conclusion
Bonus content: UTXO consolidation
  1. Introduction to batching
Bitcoin uses a UTXO model, which stands for Unspent Transaction Output. In comparison, Ripple and Ethereum use an account/balance model. In bitcoin, a user has no balances, only UTXOs that they control. If they want to transfer money to someone else, their wallet selects one or more UTXOs as inputs that in sum need to add up to the amount they want to transfer. The desired amount then goes to the recipient, which is called the output, and the difference goes back to the sender, which is called change output. Each output can carry a virtually unlimited amount of value in the form of satoshis. A satoshi is a unit representing a one-hundred-millionth of a Bitcoin. This is very similar to a physical wallet full of different denominations of bills. If you’re buying a snack for $2.50 and only have a $5, you don’t hand the cashier half of your 5 dollar bill — you give him the 5 and receive some change instead.
Unknown to some, there is no hardcoded limit to the number of transactions that can fit in a block. Instead, each transaction has a certain size in megabytes and constitutes an economic incentive for miners to include it in their block. Because miners have limited space of 2 MB to sell to transactors, larger transactions (in size, not bitcoin!) will need to pay higher fees to be included. Additionally, each transaction can have a virtually unlimited number of inputs or outputs — the record stands at transactions with 20,000 inputs and 13,107 outputs.
So each transaction has at least one input and at one output, but often more, as well as some additional boilerplate stuff. Most of that space is taken up by the input (often 60% or more, because of the signature that proves they really belong to the sender), while the output(s) account for 15–30%. In order to keep transactions as small as possible and save fees, Bitcoin users have two major choices:
Use as few inputs as possible. In order to minimize inputs, you can periodically send your smaller UTXOs to yourself in times when fees are very low, getting one large UTXO back. That is called UTXO consolidation or consolidating your inputs.
Users who frequently make transfers (especially within the same block) can include an almost unlimited amount of outputs (to different people!) in the same transaction. That is called transaction batching. A typical single output transaction takes up 230 bytes, while a two output transaction only takes up 260 bytes, instead of 460 if you were to send them individually.
This is something that many casual commentators overlook when comparing Bitcoin with other payment systems — a Bitcoin transaction can aggregate thousands of individual economic transfers! It’s important to recognize this, as it is the source of a great deal of misunderstanding and mistaken analysis.
We’ve never encountered a common definition of a batched transaction — so for the purposes of this study we define it in the loosest possible sense: a transaction with three or more outputs. Commonly, batching is understood as an activity undertaken primarily by mining pools or exchanges who can trade off immediacy for efficiency. It is rare that a normal bitcoin user would have cause to batch, and indeed most wallets make it difficult to impossible to construct batched transactions. For everyday purposes, normal bitcoiners will likely not go to the additional effort of batching transactions.
We set the threshold at three for simplicity’s sake — a normal unbatched transaction will have one transactional output and one change output — but the typical major batched transaction from an exchange will have dozens if not hundreds of outputs. For this reason we are careful to provide data on various different batch sizes, so we could determine the prevalence of three-output transactions and colossal, 100-output ones.
We find it helpful to think of a Bitcoin transaction as a mail truck full of boxes. Each truck (transaction) contains boxes (outputs), each of contains some number of letters (satoshis). So when you’re looking at transaction count as a measure of the performance and economic throughput of the Bitcoin network, it’s a bit like counting mail trucks to discern how many letters are being sent on a given day, even though the number of letters can vary wildly. The truck analogy also makes it clear why many see Bitcoin as a settlement layer in the future — just as mail trucks aren’t dispatched until they’re full, some envision that the same will ultimately be the case for Bitcoin.

Batching
  1. A timeline
So what actually happened in the last six months? Let’s look at some data. Daily transactions on the Bitcoin network rose steadily until about May 2017, when average fees hit about $4. This precipitated the first collapse in usage. Then began a series of feedback loops over the next six months in which transaction load grew, fees grew to match, and transactions dropped off. This cycle repeated itself five times over the latter half of 2017.

more like this on coinmetrics.io
The solid red line in the above chart is fees in BTC terms (not USD) and the shaded red area is daily transaction count. You can see the cycle of transaction load precipitating higher fees which in turn cause a reduction in usage. It repeats itself five or six times before the detente in spring 2018. The most notable period was the December-January fee crisis, but fees were actually fairly typical in BTC terms — the rising BTC price in USD however meant that USD fees hit extreme figures.
In mid-November when fees hit double digits in USD terms, users began a concerted campaign to convince exchanges to be better stewards of block space. Both Segwit and batching were held up as meaningful approaches to maximize the compression of Bitcoin transactions into the finite block space available. Data on when exchanges began batching is sparse, but we collected information where it was available into a chart summarizing when exchanges began batching.

Batching adoption at selected exchanges
We’re ignoring Segwit adoption by exchanges in this analysis; as far as batching is concerned, the campaign to get exchanges to batch appears to have persuaded Bitfinex, Binance, and Shapeshift to batch. Coinbase/GDAX have stated their intention to begin batching, although they haven’t managed to integrate it yet. As far as we can tell, Gemini hasn’t mentioned batching, although we have some mixed evidence that they may have begun recently. If you know about the status of batching on Gemini or other major exchanges please get in touch.
So some exchanges have been batching all along, and some have never bothered at all. Did the subset of exchanges who flipped the switch materially affect the prevalence of batched transactions? Let’s find out.
  1. Analysis
3.1 How common is batching?
We measured the prevalence of batching in three different ways, by transaction count, by output value and by output count.

The tl;dr.
Batching accounts for roughly 12% of all transactions, 40% of all outputs, and 30–60% of all raw BTC output value. Not bad.
3.2 Have batched transactions become more common over time?
From the chart in 3.1, we can already see a small, but steady uptrend in all three metrics, but we want to dig a little deeper. So we first looked at the relationship of payments (all outputs that actually pay someone, so total outputs minus change outputs) and transactions.

More at transactionfee.info/charts
The first thing that becomes obvious is that the popular narrative — that the drop in transactions was caused by an increase in batching — is not the case; payments dropped by roughly the same proportion as well.
Dividing payment count by transaction count gives us some insight into the relationship between the two.

In our analysis we want to zoom into the time frame between November 2017 and today, and we can see that payments per transactions have actually been rallying, from 1.5 payments per transaction in early 2017 to almost two today.
3.3 What are popular batch sizes?
In this next part, we will look at batch sizes to see which are most popular. To determine which transactions were batched, we downloaded a dataset of all transactions on the Bitcoin network between November 2017 and May 2018from Blockchair.
We picked that period because the fee crisis really got started in mid-November, and with it, the demands for exchanges to batch. So we wanted to capture the effect of exchanges starting to batch. Naturally a bigger sample would have been more instructive, but we were constrained in our resources, so we began with the six month sample.
We grouped transactions into “batched” and “unbatched” groups with batched transactions being those with three or more outputs.

We then divided batched transactions into roughly equal groups on the basis of how much total output in BTC they had accounted for in the six-month period. We didn’t select the batch sizes manually — we picked batch sizes that would split the sample into equal parts on the basis of transaction value. Here’s what we ended up with:

All of the batch buckets have just about the same fraction of total BTC output over the period, but they account for radically different transaction and output counts over the period. Notice that there were only 183,108 “extra large” batches (with 41 or more outputs) in the six-month period, but between them there were 23m outputs and 30m BTC worth of value transmitted.
Note that output value in this context refers to the raw or unadjusted figure — it would have been prohibitively difficult for us to adjust output for change or mixers, so we’re using the “naive” estimate.
Let’s look at how many transactions various batch sizes accounted for in the sample period:


Batched transactions steadily increased relative to unbatched ones, although the biggest fraction is the small batch with between 3 and 5 outputs. The story for output counts is a bit more illuminating. Even though batched transactions are a relatively small fraction of overall transaction count, they contain a meaningful number of overall outputs. Let’s see how it breaks down:


Lastly, let’s look at output value. Here we see that batched transactions represent a significant fraction of value transmitted on Bitcoin.


As we can see, even though batched transactions make up an average of only 12% of all transactions, they move between 30%-60% of all Bitcoins, at peak times even 70%. We think this is quite remarkable. Keep in mind, however that the ‘total output’ figure has not been altered to account for change outputs, mixers, or self-churn; that is, it is the raw and unadjusted figure. The total output value is therefore not an ideal approximation of economic volume on the Bitcoin network.
3.4 Has transaction count become an unreliable measure of Bitcoin’s usage because of batching?
Yes. We strongly encourage any analysts, investors, journalists, and developers to look past mere transaction count from now on. The default measure of Bitcoin’s performance should be “payments per day” rather than transaction count. This also makes Bitcoin more comparable with other UTXO chains. They generally have significantly variable payments-per-transaction ratios, so just using payments standardizes that. (Stay tuned: Coinmetrics will be rolling out tools to facilitate this very soon.)
More generally, we think that the economic value transmitted on the network is its most fundamental characteristic. Both the naive and the adjusted figures deserve to be considered. Adjusting raw output value is still more art than science, and best practices are still being developed. Again, Coinmetrics is actively developing open-source tools to make these adjustments available.
  1. Conclusion
We started by revisiting the past year in Bitcoin and showed that while the mempool was congested, the community started looking for ways to use the blockspace more efficiently. Attention quickly fell on batching, the practice of combining multiple outputs into a single transaction, for heavy users. We showed how batching works on a technical level and when different exchanges started implementing the technique.
Today, around 12% of all transactions on the Bitcoin network are batched, and these account for about 40% of all outputs and between 30–60% of all transactional value. The fact such that a small set of transactions carries so much economic weight makes us hopeful that Bitcoin still has a lot of room to scale on the base layer, especially if usage trends continue.
Lastly, it’s worth noting that the increase in batching on the Bitcoin network may not be entirely due to deliberate action by exchanges, but rather a function of its recessionary behavior in the last few months. Since batching is generally done by large industrial players like exchanges, mixers, payment processors, and mining pools, and unbatched transactions are generally made by normal individuals, the batched/unbatched ratio is also a strong proxy for how much average users are using Bitcoin. Since the collapse in price, it is quite possible that individual usage of Bitcoin decreased while “industrial” usage remained strong. This is speculation, but one explanation for what happened.
Alternatively, the industrial players appear to be taking their role as stewards of the scarce block space more seriously. This is a significant boon to the network, and a nontrivial development in its history. If a culture of parsimony can be encouraged, Bitcoin will be able to compress more data into its block space and everyday users will continue to be able to run nodes for the foreseeable future. We view this as a very positive development. Members of the Bitcoin community that lobbied exchanges to add support for Segwit and batching should be proud of themselves.
  1. Bonus content: UTXO consolidation
Remember that we said that a second way to systematically save transaction fees in the Bitcoin network was to consolidate your UTXOs when fees were low? Looking at the relationship between input count and output count allows us to spot such consolidation phases quite well.

Typically, inputs and outputs move together. When the network is stressed, they decouple. If you look at the above chart carefully, you’ll notice that when transactions are elevated (and block space is at a premium), outputs outpace inputs — look at the gaps in May and December 2017. However, prolonged activity always results in fragmented UTXO sets and wallets full of dust, which need to be consolidated. For this, users often wait until pressure on the network has decreased and fees are lower. Thus, after transactions decrease, inputs become more common than outputs. You can see this clearly in February/March 2017.

Here we’ve taken the ratio of inputs to outputs (which have been smoothed on a trailing 7 day basis). When the ratio is higher, there are more inputs than outputs on that day, and vice versa. You can clearly see the spam attack in summer 2015 in which thousands (possibly millions) of outputs were created and then consolidated. Once the ratio spikes upwards, that’s consolidation. The spike in February 2018 after the six weeks of high fees in December 2017 was the most pronounced sigh of relief in Bitcoin’s history; the largest ever departure from the in/out ratio norm. There were a huge number of UTXOs to be consolidated.
It’s also interesting to note where inputs and outputs cluster. Here we have histograms of transactions with large numbers of inputs or outputs. Unsurprisingly, round numbers are common which shows that exchanges don’t publish a transaction every, say, two minutes, but instead wait for 100 or 200 outputs to queue up and then publish their transaction. Curiously, 200-input transactions were more popular than 100-input transactions in the period.


We ran into more curiosities when researching this piece, but we’ll leave those for another time.
Future work on batching might focus on:
Determining batched transactions as a portion of (adjusted) economic rather than raw volume
Looking at the behavior of specific exchanges with regards to batching
Investigating how much space and fees could be saved if major exchanges were batching transactions
Lastly, we encourage everyone to run their transactions through the service at transactionfee.info to assess the efficiency of their transactions and determine whether exchanges are being good stewards of the block space.
Update 31.05.2018
Antoine Le Calvez has created a series of live-updated charts to track batching and batch sizes, which you can find here.
We’d like to thank 0xB10C for their generous assistance with datasets and advice, the people at Blockchair for providing the core datasets, and David A. Harding for writing the initial piece and answering our questions.
submitted by miguelfranco1412 to 800cc [link] [comments]

PortBitX.COM White Paper

White Paper


We are a free society united by the basic idea of ​​freedom and justice, separated from geographical, religious, ethnic and gender prejudices, we reaffirm this document, and we promise to protect freedom and benefit people always and everywhere.

PortBitX Project

The PORTBITX project team creates a service whose main idea is to provide a mobile and convenient system where users and cryptocurrency owners can receive a wide range of services.

1 The essence of the project

The project team asks you to support the creation of a high-tech, simple, convenient and honest ecosystem for people who need to protect their rights and freedoms and use the right to be anonymous and financially independent.
The mission of the project is to create a service for storing and exchanging cryptocurrency assets, and also to become a tool allowing to conduct trading operations regardless of geographic location or language skills.
Advantages of the project:

2 State of affairs

Owing to ignorance or low awareness of people about the nature of cryptocurrency assets, cryptoindustry is mythologized in modern society. This applies to both ordinary people and officials in authority.
As a rule, in the minds of people there is more confidence in traditional financial instruments than in technology during their development, for example blockchain (the inability to change the information block / blockchain chain).History knows many examples when the governments of different countries, guided by the interests of their citizens, inadvertently led to the decline of advanced civil initiatives. This time is a period of complex formation of crypto-economics and state relations, which is still in the making.
The project that we present to your attention has no borders between countries and peoples. And we, a group of enthusiasts, would very much like to cooperate with large government organizations. But, to our deep regret, the states currently at the stage of formation of their cryptocurrency policies make mistakes that negatively affect the crypto community.
The market of cryptocurrency assets, which has a ten-year history of development, is very sensitive to various statements by officials. However, unqualified criticism cannot withstand the global trend. And no one can stop the future.
With all the desire, time does not stand still, technologies themselves continue to evolve, new technologies, new projects, new views that can be upgraded in the distant future, as well as processes of government and regulation themselves, to introduce innovative elements into them. We do not expect the distant future, and many tools are available now. And we have something to offer you.
This is especially relevant against the backdrop of the upcoming global financial crisis, with the inevitable decline in trust in state financial institutions; cryptocurrency have high chances of becoming more popular in the absence of other technological alternatives.
As we noted earlier, there is a lack of awareness among people about Blockchain technology and cryptocurrencies. These technologies are extremely undervalued, since there is much more benefit in them than one can imagine.
In the cryptocurrency assets industry itself, there are fraudsters at this time who are trying to steal or fraudulently get your money.
At the same time, there are many honest crypto projects that can not be realized due to stereotypes of perception of them as fraudulent. Objectively, they could be judged by their work and projects that have been successfully implemented. In principle, it is necessary to be cautious in terms of investing in any projects, even if they are guaranteed by reputable people or companies. No reputable person or company can match the level of guarantee and security of your assets, as in the Bitcoin blockchain.In any case, the decision to invest is yours, not imposed by restrictions, and the responsibility lies with you.
According to Road Map, we intend to fulfill all the terms of the agreement with our participants.
We do not promise you a high yield of our tokens, we put all our experience into the overall welfare of the project and each user. There will be no delisting on the service until the community votes for the opposite.
Our risk is collective. We urge you to make an adequate and balanced choice, instead of imposing any other opinion on you. We are not supporters of aggressive marketing.
There are many cryptocurrency assets and it’s difficult for a regular user to store and exchange them, as well as use them in everyday life.

3 Disadvantages:

These are problems that affect users and cryptocurrency in general.

4 Solution

The PORTBITX project guarantees compliance with all of its obligations and user rights.
We integrate community communications into our PORTBITX service.
Users are offered the following functions:

5 Competitors

Direct market competitors are all decentralized and centralized services related to the purchase or sale of cryptoactive assets, as well as services that provide storage services on a cold or hot crypto wallet.
More than 16 thousand services and more than 2 thousand types of cryptocurrency assets.
We have the opportunity to offer our clients a reliable and open service for the storage and exchange of cryptocurrency assets.
The main competitors are such large cryptocurrency exchanges like Binance, Bitfinix, Bitrix, etc. These multibillion-dollar projects that can affect the entire market and regulate pricing also have millions of crypto communities.
This position is deserved by their work. There are, of course, disadvantages associated with the opacity of their activities, unlike us, but in general they play an important role in the cryptoindustry. Their trading volumes are impressive and inspiring, their mistakes lead to sharp price fluctuations in the crypto market.
There are still crypto exchange. In comparison with the leaders, they are significantly inferior in the volume and number of users. These exchanges include the bulk of all crypto exchanges on the market.
There are also exchange services on the market that allow you to exchange fiat money for cryptocurrency assets. Most often the commission is quite expensive. For example, they can range from 1% to 20%. Such a high commission can be explained by the fact that the locations where buyers and sellers are located have government restrictions or are prohibited.
In addition to all of the above, there are closed groups in social networks or instant messengers. There, people discuss and agree on the price and method of payment. Commissions are often not high from 0% to 5%, but one should not hope that such operations can be safe, since personal meetings are always accompanied by a risk to life or health.
Exchange transactions in the onion network may have no guarantees at all that the transaction will be successful. In deep web, everything works on credibility / reputation, and the higher the seller’s rating, the higher the likelihood of a successful outcome of the transaction. In the same place, you can sell tagged or stolen cryptocurrency assets. For this, there are special mixing sites to hide the criminal trail. These types of exchange operations are the most unreliable.
For this reason, one of the safest types of exchange operations is large centralized cryptocurrency exchanges. Such centralized services, sometimes using their position, impose their own rules, which leads to a loss of users’ material values.
PORTBITX is designed to empower cryptographic protection for maximum convenience and simplicity, as well as to protect the funds and personal data of users.
PORTBITX connects all cryptocurrency assets into one transport hub and creates highly efficient curvilinear isolation of the currency to make cryptocurrency as safe and close to people as possible.

6 Segment

A registered user of the PORTBITX portal can be any person supporting the general idea of ​​a free society. Our users are anonymous and financially independent, with the right to vote and the right to receive common incomes obtained by the operation of the portal and the activity of the crypto community PORTBITX.
For whom we create a service:
It can be ordinary housewives, entrepreneurs, unemployed, self-employed, freelancers, people who invest in the future, wealthy investors, etc.
One of the advantages of the service is anonymity, which gives anyone the right to save and earn around the world online, without fear that tomorrow they will be forced to pay some strange fees or licenses.
Service users are interested in the distribution and real use of cryptocurrency.
Self-regulating community PORTBITX, respecting the rights of all project participants.
Service users are:
For trust in the trade service there will be a seller rating for all types of goods and services presented. There will be a book of reviews about each seller, where each buyer has the right to leave a review about the product or service. This scheme is actively used in Darknet. The basic principle: the more positive reviews, the more trust. Each seller values ​​his authority and thus provides the best possible product or service. The expression “customer is always right,” works because no one wants to lose their customers.Currently, according to blockchain.com, there are used 34 million people who hold their funds in Bitcoin. The remaining number of users is difficult to calculate, but according to our modest calculations, there are at least 2 times more other users in any other currency.
This suggests that there is still a great demand on the market for services of safe storage and exchange of cryptocurrency assets.

7 Bounty

Bounty is a reward of users for PR-activity: subscriptions on forums, maintenance of topics in local language versions, translation of documents into a local language, publications in social networks, blogs and so on.
The terms of the bounty are published in the user profile of the section Terms and conditions of the bounty campaign.
To participate in the bounty campaign, bounty hunter, you need to register on the site PORTBITX.
You agree to the terms and conditions of the Bounty campaign if you register and do Bounty Hunt.
Tasks and their description are listed in the special section “Bounty Hunt”.
Each task is individual and has its own characteristics, so bounty hunters are invited to carefully study the conditions of each task.
Rewards are described in each task separately. The results of remuneration depend on the correct execution of the task.The remuneration is charged to the user’s personal account in the personal account.
There is also a payment history for completed tasks.
After the last fundraising stage, all information will be deleted in favor of the anonymity of users. We will also delete information about site visits and personal information that was required to specify to receive a reward. In the case of a request by third parties for data, we did not have information that could harm bounty hunters.
The bounty budget is 14,325,893 PORTBITX.
The distribution of tokens in stages is as follows:
Stage 1 – 6,325,000 PORTBITX;
Stage 2 – 4 000 000 PORTBITX;
Stage 3 – 4 000 893 PORTBITX.
Distribution of PORTBITX tokens:
If the ICO is not successful, the invested funds will be returned to investors, and the reward for bounty hunters will be canceled.
For this reason, we regulate and monitor the social activity of the bounty hunters so that the conduct of all ICO stages is successful.
For bounty campaigns, an application to the technical department is provided in order to correct them immediately in case of errors, as well as to assist the bounty hunters in carrying out their tasks.
We are building a healthy community, so we ask that the personal opinion and evaluation of the project PORTBITX of each participant be objective and adequate.
Each participant in the campaign bounty is our representative, and for us it is important to have a clear understanding of the face of responsibility and benefit that the community carries out.

8 Market

On the market there are many companies involved in the exchange and storage of cryptocurrency assets.
The number of such services is more than 16,000 and this is not the limit, but it is precisely in the face of fierce competition that truly unique and competitive projects are born.
This market situation motivates us to create a truly useful and necessary service in order to make the range of our service available to a wide range of people.
Recently, according to Google Trends, interest in cryptocurrency has fallen significantly. Now interest has rolled back to the area of ​​2016-17.
Cryptocurrency industry continues to function and develop. Now on the blockchain, you can create your own e-government, your own elections and currency, everything is limited only by the imagination of all industry participants.
The ecosystem is actively developing for the use of cryptocurrency in trading operations. Governments and regulators in different countries are seeking greater transparency in the cryptocurrency industry.
Some, such as the Japanese government, license and regulate crypto exchange and services. In Japan, cryptocurrency has long been accepted as a means of payment in many outlets. In states with despotic regimes and an unstable economy, one of the few tools for the preservation and enhancement of assets is Bitcoin, for this reason in these countries the rate can differ greatly from the average market rate.
The financial crisis and the instability of markets around the world continues to cause fear among people. In some countries want to ban circulation of dollars. Gold cannot be bought in the usual way and owners may experience some difficulties in working with it. Gold has long ceased to be a means of payment.
The priority for us is the safe storage of cryptocurrency assets, maximum user convenience and integration, the popularization of the cryptoindustry in everyday life.
In order for cryptocurrency assets to be used and an integral part of human activity, we want to form a stable market. At the moment, the capitalization of the entire market for a number of years fluctuates in the range of $ 100– $ 300 billion. The range of exchange operations ranges from $ 13-16 billion per day. The number of cryptocurrency assets represented on the markets is more than 2000 types.
The dominance of the main cryptocurrency Bitcoin is in the range of 49-52% of the entire market.
The tendency to reduce the main quotes scares potential investors, but this is not a reason for surrendering positions to a multi-million dollar audience of crypto enthusiasts. The reason why people continue to create new projects and new systems for exchange and transactional systems is the benefits they bring to humanity. In the market, as well as around the world, there are many unscrupulous developers who need to fight.
We are engaged in creating and securing the credibility of the cryptoindustry so that the user can choose a reliable service or network, and not imposed by anyone. This is one of the fundamental aspects of a free community. The right of choice for the user, “the client is always right” is an integral part of the philosophy of the PORTBITX project. By the level of their responsibility, transparency, advanced thought, innovation, in the future, the work of PORTBITX will judge all cryptomir. The better we, PORTBITX work for the good of society, the more trust we have and the more users use the PORTBITX service.
PORTBITX is part of a new culture, part of an ecosystem where the core value is reputation based on trust. This is a project where reputation is more important than money, and utility and service to people is more important than ostentatious hospitality and external gloss, and the safety of the assets of our project participants is more important than our profit indicators.
Capitalization is growing steadily from year to year.
At the beginning of 2017, the capacity of the crypto market was around $ 19 billion. Now capitalization has grown to $ 200 billion. The growth is colossal, but the market is still young and there will be many more challenges on the way to which all market participants will have to respond. And our participants will be the most prepared.
The number of new blockchains and new projects is growing, and the number of participants in the crypto market is also growing. As a result, the attitude of people to the cryptoindustry is changing for the better, just like the cryptoindustry itself.
In 2017, the known cryptocurrency assets were less than 800 species, but now their number has grown. Now on the market represented more than 2,000 species.
Not all assets are honest, there are those whose purpose is to obtain short-term profits, which badly affects the reputation and trust in the cryptoindustry. But, if we recall the story of the beginning of our amazing world, then the price for one Bitcoin was $ 0.00000003. Since then, the situation in the cryptoindustry has changed dramatically.In the future, the cryptoindustry market is waiting for great popularity and that is why reliable and honest services for the storage and exchange of cryptocurrency assets like our project will be needed.
Sharp volatility is such because the market is relatively young and has not reached even a tenth of its potential and capitalization. Therefore, the time in which we live is just a starting point. The world has already passed the Rubicon and there is a long and interesting road ahead.
The potential market we can serve in the future is more than one billion users. Now this market is slightly less than 50 million users.
Experts expect that in the future cryptocurrencies will replace the official fiat money.

9 Product

PORTBITX is a digital portal for storing, exchanging and trading cryptocurrency assets, as well as a platform for selling goods and services for cryptocurrency.
The service is managed by the community by voting. Voting topics are offered through a special application in the voting section.
Service has three main areas.
Secure storage of cryptocurrency.
Secure storage of over 1500 different cryptoactive assets. Safety is ensured by safe cold the repository.
The service itself is not directly connected to the repository to prevent the penetration of potentially dangerous programs. The security of user data in the service itself is protected by a local block chain. The entire database and operations are recorded on the principle of a distributed registry. Hacking one server should do this with hundreds of others located in different places. Mining in this block chain is not performed because all the costs of maintaining such security are borne by the service itself.
The PORTBITX development team is fully responsible for the security of cryptocurrency assets and for the operation of the service. One of the most vulnerable links in the safety chain is the human factor (concerns not only users, but also developers). For this reason, it is necessary to double-check scenarios, conduct stress testing and carefully select personnel.
Exchange
This is a portal for exchanging all available cryptocurrency assets for any other. The number of assets available on the portal will be recorded in the blockchain for a reliable display of the volume, the number of wallets, users and information on all the operations performed since the launch of the main network will also be indicated in the blockchain.
Any cryptocurrency asset can be exchanged for any other if it is in demand. The market decides for itself how and in what to trade. All exchange orders will be visible in online charts. Potentially, we will add more than 2,500,000 pairs to the portal, but not immediately, but in parts and as each cryptocurrency asset is checked. Also the choice for coins or tokens will always be behind the PORTBITX community. After each vote, all results will be published in the section “Voting” and on the official website of the service.
The portal has a convenient interface and an open registry, i.e. users will be able to monitor and control the network with developers. Also, with certain voting results, there may be additions to the network.In the future, we want to release the service in free navigation and stop controlling the network. If we succeed, we will open source code and create jobs for miners.
Marketplace
Marketplace is valid for the sale of services and products for cryptocurrency. High-quality and convenient service. All transactions on the Marketplace are recorded in the main register of the local blockchain. A wide range of products available advertising products and services, two types of payment (with a guarantee and with a reputation) to choose from.
The following portal functionality:
Voting / referendum
An important component of the PORTBITX portal is voting / referendum.
A variety of topics and surveys can be submitted to a vote, directly related to the PORTBITX community and the portal itself. For example, changes in tariff rates, adding new tokens, adding new services and additions to the service.
The right to vote is the right to decide the fate of the community, the right to find the best solution to the problems, the right to be free, honest and fair.
One voice is 5000 PORTBITX. (this limit can be lowered if the community decides on a general vote).
Since tokens can be sold on third-party services, they cannot automatically take part in voting. Also, all available tokens on the portal should be frozen for a period of voting that lasts no more than 24 hours, starting at 00:00 Central European Time.
Tokens are frozen through the user’s personal account in the voting section.Persons who do not have enough tokens for voting, but having the right to profit PORTBITX have the opportunity to see the voting results, as well as to make their proposals for the next vote.
Persons who do not have enough tokens for the right to vote and the right to profit will have the opportunity to group together for collective voting.
Results and coverage of all voting results will be immediately published after the end on the portal’s main page.
A vote is considered legitimate if a quorum gains 65% of the total number of votes. The decision on the outcome of the vote can be made if the number of those who agreed to 100% of those who participated in the vote is 60%. Voting can be repeated if uncrowded by a majority. In this case, the proposal will be revised. The deadline for a deferred vote may pass unplanned within two weeks after the end of the first vote. If, in the second ballot, the majority of votes will also not reach the bulk of 60%, then this issue will be postponed or canceled and will not be considered within the next 6 months.
The right to vote is not just an opportunity to influence the portal, it is the will of the community that developers must obey.
The right to profit
The right to profit is obtained by freezing tokens through the user’s personal account for a period of at least one month. The number of tokens needed to make a profit of at least 1000 PORTBITX.
The calculation of the distribution of profits are as follows.
All profits from all services provided by the service for a certain period of time in the tokens in which the activity was performed are distributed in relation to all community members who have frozen the tokens directly on the service portal. The profit is distributed in the same currencies in which it was received on the service.
In the event that the frozen asset of the PORTBITX tokens is defrosted ahead of time, then the profit it receives during this period will be distributed among the other participants whose tokens remain frozen.
Participation in the project is proved by deed and rewarded, in all fairness.
All profits, namely the estimated profits of users during and at the end of the period can be tracked and seen in the registry on the main page accessible to all interested parties.
PORTBITX developers do not hide revenues and honestly share them with the community.
Each user has the opportunity to check the registry and find their own account.Maximum openness and transparency is the key to trust and success of the service.

10 Road Map

11 Economy and Demand

All information on the movement of funds and their spending will be published on the official website of the company in a special reporting form.
All actions performed by PORTBITX will be covered in the news section of the company’s website.The voting results and the timing of their holding, as well as the topics discussed for voting will be in the user’s personal account in the “voting” section.To date, only about 80 million people have a cryptocurrency, store it or use it in payments.
Now there’s practically no way to find a person who hasn’t heard about bitcoin or blockchain at least once. The cause of mistrust is people who undermine the true face and good intentions of the founding pioneers of the cryptoindustry.
The market is too small and hypervolatil, but this trend will continue only for some time, until the total market capitalization reaches 1 trillion. USD This milestone will further open the way to even more people who want to be part of the crypto world. A larger number of participants will make this market more stable and less prone to hypervolatility.Unfortunately, there are many scammers and individuals who undermine the basis of the industry, and its usefulness. Therefore, the PORTBITX development team creates a service safe for the safety of users’ funds.
According to statistics provided by Blockchain.com from March 2018 to February 2019, the number of new users who registered new cryptocurrency wallets increased from 23 million to 33 million. Based on the data obtained, it can be concluded that there is a need for reliable storage of their cryptocurrency assets.
The year 2019 is a preparatory platform for an even larger number of users, so we decided to create a portal for the ecosystem of the cryptocurrency industry.

12 Project Team

One of the important factors in the decision making for an investor is the transparency and fame of the team that works on the project. An investor can check team members, evaluate and decide on investments. The knowledge and experience of the team is a kind of guarantee that the project will be implemented, but as is often the case in real life, this may be far from reality.
In the cryptoindustry, nothing can be 100% sure. Any ICO defaults to scam.
If you have doubts about our decency, we suggest investing a small amount.
By collecting the minimum amount, we will demonstrate in practice that we are credible, because our goal is to benefit the community.
Founders of PORTBITX
Co-founder and Technical Director Steve Man
Co-founder and CEO of CharleySJ
Director of Marketing and Public Relations MAD Phoenix
Director of Methodology and Legal Support at PenA

13 Investments

The minimum capitalization of the project at the first stage is 1,450 ETH.
The minimum total capitalization of the project will be 56,000 ETH.
The maximum capitalization of the project can reach more than 160,450 ETH.
Tokens will be issued in the amount of 143,258,928.57142.
Share will be up to 8 decimal places. ICO is calculated in three stages.
We create a product that meets modern requirements and market challenges. Additional issue is not provided. After the last stage of the ICO, all assets not sold will be destroyed.
We initially limit the emission of tokens in order to avoid a large amount of excess asset. Being part of the PORTBITX community means having the privilege of voting and profit of the service. And that means – to understand the idea and share the philosophy of the cryptoindustry and with full responsibility to approach the decisions that will affect the community.
The opportunity to receive a bonus will be among the participants of the Bounty campaign and among ICO investors, but by decision of the crypto community.
Return of investment will be carried out in several ways.
By obtaining distributed service profit
Due to the possibility of selling a token at the market price, which can be ten times higher than the initial cost.
The token will be based on the ERC20.
The predicted price of a token at the end of an ICO can be about $ 3.7.
The projected service revenue for the first year may be more than $ 500 million.
Pricing can be changed if there is an ETH price manipulation before release.
The news about the name and the release of tokens will be announced in the official news, so you should not give in to manipulation.

14 ICO Features

Jurisdiction: Blockchain
The number of tokens is 143 million.
On ICO 80.225 million
On a bounty campaign of 14.3 million
The developers and founders of 34.382 million, and the maintenance of the service 14.3 million.
Distribution will be carried out automatically.
The following fundraising is provided:
Stage 1 – 1,450 ETH
Stage 2 – 10,000 ETH
Stage 3 – 149,000 ETH
Pricing and limits
1st stage ICO
1 PBX = 0.002 ETH
1 ETH / 0.002 = 500 PBX
5 ETH / 0.0015 = 3 333.33333333 PBX
10 ETH / 0.001 = 10,000 PBX
Rules of the first stage:
The minimum amount to raise funds 1,450
Price is limited to pricing policy.
Bounty company 6 million
Refund in case of not reaching the minimum amount to raise funds
2nd stage ICO
1 PBX / 0.003 ETH
1 ETH / 0.003 = 333.33333333 PBX
5 ETH / 0.0025 = 2,000 PBX
10 ETH / 0.002 = 5,000 PBX
3rd stage ICO
1 PBX / 0.004 ETH
0.5 ETH / 0.004 = 125 PBX
1 ETH / 0.0035 = 285.71428571 PBX
5 ETH / 0.003 = 1 666.66666666 PBX
10 ETH / 0.0025 = 4,000 PBX

15 Legal aspects

Placement of the company – Blockchain. This is due to the fact that we approach the project with full responsibility and are aware of the consequences of our actions, as well as due to pressure from some states and their unfriendly policy to the cryptoindustry.
Also, the service will not be present fiatnye currency, as their existence is not combined with the philosophy of our company. We will temporarily not specify the location of the company, as well as disclose the names of developers for the safety of their rights to life, health and freedom.
Since we consider ourselves a free community, some data for the sake of security for the sake of this freedom will be hidden from outsiders.
We guarantee a refund in case of unsuccessful first stage at 100% minus the miners commission.
This is important because the tools incorporated in the first stage are necessary for creating the kernel and the subsequent imposition of software modules.
We considered options for direct investment in the project from private investors, but since these investors could influence our strategy and policies, and since they could take some of the functions from the community, we decided to invest in our project as a community by Ico.
The risk of investing in our project, of course, is great, but we want to build a really useful service for the industry as a whole and for each user of the service separately. Therefore, we enable the community to judge us by our work.
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