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A Detailed Summary of Every Single Reason Why I am Bullish on Ethereum

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself on the DeFi Pulse website.

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA player Spencer Dinwiddie tokenized his own NBA contract.)

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (Jitsi for the zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to CryptoCurrency [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethtrader [link] [comments]

A detailed summary of every reason why I am bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethfinance [link] [comments]

NightOwl Halloween Drop: Descriptions, Info, FAQ and Tips

This will be the last I'll post in-regards to NightOwl drops.From now on drop info will be posted in the NightOwlseeds subreddit
We can only pin 2 posts at a time, and it can get confusing for new and existing users.
I will be updating this thread throughout the day, check last edited.- NightOwl subreddit linked,

THE NIGHTOWL STORE IS CLOSED.

Link to The Seed Bazaar

F.A.Q

"My pack has a blank label, how do I know what I have?"

Those are the "Secret Owl Society" packs, they come labeled with UV ink. Daz almost always provides a small blacklight keychain, use it to reveal the pack name.

"Can I make multiple orders and get the tester pack?"

As long as the combined total is $250, and hasn't been shipped yet, then you get 1 tester pack ($500 for 2 tester packs).
A new bit of info, you get another tester pack per $250 spent, dealer's choice.

"Do I need to purchase on TSB Premium?

No, go to the regular store page

"Do I need TSB Premium to make a purchase?"

No, you don't need TSB Premium to make a purchase. This was an option for paying members to get a chance to access the drop early. Nothing was exclusive to premium, everyone has access to all the strains.

"I got a confirmation email, it still says "processing", should I be worried?"

As long as you have a confirmation email (maybe a paid email), then there's nothing to worry about your order has been received.

"How do I register for a free account?"

There should be a sign-in button at the bottom of the page, or the NightOwl Store page. Look at this image to help.

"Is there any freebies?"

Like Mephisto, Nightowl will give you 2 extra seeds on 3 seed pack orders. Same cultivar. No freebie tiers like Mephisto.

Order related issue?

Email [[email protected]](mailto:[email protected])
I will update with more FAQs as the day goes.

DROP DAY INFO NOW PAST

When purchasing NightOwl seeds from The Seed Bazaar on 10/10 at 12 AM, WHATEVER IS IN YOUR CART, ISN'T RESERVED.
NEW TIPS
ITEMS ARE ADDED/UPDATED ONE BY ONE.
THERE ARE TWO PAGES OF SEEDS.
IF YOU HAVE AN ISSUE WITH YOUR ORDER EMAIL [[email protected]](mailto:[email protected])
PREMIUM ISN'T NECESSARY.
It's best to purchase what you want FAST, everything is and always has been limited in quantity. Don't leave the item(s) in your cart and go check your plants and start some LST or a res change, don't go start cleaning your tent, CHECK YOUR ITEMS OUT FAST.
Orders usually are combined to help with shipping, this should help with ordering fast, and comments have been enabled at checkout too 👍.
Last tip, make an account ahead of time, and login. Should help speed up the checkout process.
Price per pack is $50 USD. Website and packaging say 3 seeds but typically get 5 no option for other pack sizes, plus free international shipping.
This is the LAST SCHEDULED DROP from NightOwl till Valentine's day, which is expected to have the new F4 photo to auto cultivars. This is if there aren't any delays or setbacks in the timeline.
The new NightOwl Sweater doesn't have a set date yet, could be some time in November.
Chocolates are for the US only, food and customs don't go together. I THINK Daz said put it in the comments if you'd like the chocolate and he'd get back to you to figure out how to ship it (might have to pay for packaging and postage).
Only If there are chocolates or ashtrays left, Daz will offer them up as an item on the seed bazaar for the cost of shipping which is usually around $15.
Seedopoly boards are being sent out, pieces won't go out till the New Year, and the prizes are US only.

Promotion:

Tester packs are labeled, but unknown till you receive it.

Scratch Card Game

Match the Mummies, scratch card game *WHILE SUPPLIES LAST, 1st COME 1st SERVED\*

Descriptions (Quick Description from Daz)

Limited Edition:

Galaxy Brain 1:30:00

Zamaldelica Express x Cosmic Queen
75/25 Sativa/Indica
75-80 days from sprout
A long time coming, the Galaxy Brain is finally here! These large, branchy plants are covered with frost from the stems up! Piercingly sweet fruit scents and mouth coating flavors accompany a soaring euphoric head high, along with a relaxing body effect that doesn’t hamper your daily activities. I’m expecting this one to become a staple in the autoflower connoisseur’s garden. The reversal used was selected from over 40 Cosmic Queens and was extremely sativa dominant. I used this same expression for an unreleased seed run a few years back and she produced some of the most exquisitely beautiful and flavorful flowers. The female used was extremely pungent, with sappy and bulbous resin heads that stink up the whole room when burst. She also had extremely fat calyxes, providing massive amounts of surface area for the resin heads to call home.

Spotless Mind 1:39:00

Fugue State x Cosmic Queen
True F1 Hybrid Limited Edition
75/25 Sativa/Indica
75-85 days from sprout
2-4 ounces average
3 Feminized Seeds
Large, easy growing sativa dominant plants with heavy branching and intense crystal production. Super sweet, peppery, and buttery flavors accompany an intensely uplifting head high and an electrically charged body feel. The Spotless Mind name gives a tip of the cap to the Amnesia Haze in her heritage, which carries through to this cross. Overindulge and you will find yourself becoming forgetful and may experience recollection difficulties, but in a fun way. She has also been known to encourage bedroom activities, making for a nice nightstand stash. If you are looking for an anytime sativa that won’t make your mind race aimlessly, look no further. The same reversal that was used for Galaxy Brain and Cosmic Apprentice was also used for this Limited Edition.

Secret Owl Society:

Electric Qoolaid 1:32:18

Blue Microverse F4 x Cosmic Queen F4 *Quick Finish*
50/50 Sativa/Indica
65-75 days from sprout
1.5-3 ounce average
3 Feminized Seeds
Expect medium to large plants with creamy blue raspberry lemonade golf ball buds running along the side branches, leading up to chunky top colas all wrapped in gooey, long-stemmed trichomes. Another beautiful true F1 hybrid with a 50/50 blend for a balanced, comforting mind and body experience. Great for relaxing after work when you’re ready to start winding down. For the reversal I used a stocky, faster finishing Cosmic Queen as the pollen donor which will help add vigor and potency while keeping the stretch down.
**Be sure to keep airflow and humidity in check during the final few weeks, as the flower density can lead to bud rot in the wrong conditions. **

Judy Gemstone 1:32:44

Strawberry Nuggets F4 x Cosmic Queen F4 *Quick Finish*
40/60 Sativa/Indica
65-75 days from sprout
1.5-3 ounce average
3 Feminized Seeds
Expect medium-sized bushes with very sturdy branches that reach up and fill the canopy alongside the main cola. Rock hard nugs of pinks, purples, emerald, and blue hues will create all the bag appeal you could ask for, with a sweet cheesy strawberry funk that will have you smelling the bag again and again. Another true F1 and the heaviest indica hybrid of the lot, ranging from therapeutic to narcotic depending on your intake. Perfect for a dessert smoke or nightcap to relax your body before sailing off into the dream world. For the reversal I used a stocky, faster finishing Cosmic Queen as the pollen donor which will help add vigor and potency while keeping the stretch down.
***Be sure to keep an eye on these during early as the Strawberry Nuggets line can throw a ball or two during sexing, right where the side branches meet the main stem. It is rare, but can be brought about by stress or too strong an application of nutes during the sexing stage and seems to be most common when using humic acid. If you do see a ball pop up it can be removed and the plant will continue on fully female to finish her life. Also, keep airflow and humidity in check during the final few weeks, as the flower density can lead to bud rot in the wrong conditions. **\*

Karmic Connection 1:33:03

(Chem City Blues x Chemdogging) X Cosmic Queen F4 *Super Sativa*
60/40 Sativa/Indica
75-85 days from sprout
2-4 ounce average
3 Feminized Seeds
Expect large, easy growing plants with satellite branches that reach up to the shoulders of the canopy, but be sure to stake her before she goes too far into flower or she will buckle under the weight of her blooms. The piercing old school perfumes she puts off range from skunky blueberries to creamy chems, and her soda can cola structure is sure to impress! This F1 polyhybrid is recommended for heavier smokers and those looking for help with pain management, and can be a bit too much too fast for the uninitiated. Carbon filters are always a must indoors, and best to make sure they’re in proper working order before running these. The Cosmic Queen reversal used for this cross was what I consider the super sativa expression of CQ. Tall, stretchy, thinner leaves, incredibly sweet resin, bag appeal, pest, and pm resistant with an elongated bud structure that is excellent for outdoors and in. Don’t miss out!

Mango Sunrise 1:34:28

Mango Smile x Cosmic Queen F4 *Super Sativa*
70/30 Sativa/Indica
75-85 days from sprout
2-4 ounce average
3 Feminized Seeds
Expect large, easy growing plants with sturdy branching and individual bud sites running their length, met with a small cola cluster at their end. This true F1 hybrid has beautiful tropical citrus flavors that will send you off on an island vacation, while the effects will leave you physically and mentally heightened and ready for anything the day throws your way! Extremely pleasant all day/everyday smoke, sure to be a crowd-pleaser. The Cosmic Queen reversal used for this cross was what I consider the super sativa expression of CQ. Tall, stretchy, thinner leaves, incredibly sweet resin, bag appeal, pest, and pm resistant with an elongated bud structure that is excellent for outdoors and in. Don’t miss out!

Milk and Qookies 1:35:15

Forum Stomper x Cosmic Queen F4 *Quick Finish*
60/40 Sativa/Indica
65-75 days from sprout
1.5-3 ounce average
3 Feminized Seeds
Expect medium-sized bushes with stout branches that reach up and form a canopy surrounding the main cola. Incredibly resinous chunky white nugs and dark forest green foliage fade to the deepest purples and blacks under cooler temperatures. She will have true F1 hybrid vigor and produce a delicious mix of forum cookies and cosmic cream flavors along with an abundance of “fall off the stalk” gland heads that will put everything else around your trimbin to shame. Effects are stoney, both physically and mentally, without the couchlock. She could easily fill the role of all day/everyday smoke if you have a decent tolerance already. For the reversal I used a stocky, faster finishing Cosmic Queen as the pollen donor which will help add vigor and potency while keeping the stretch down.

Space Station Orange v.2 1:36:50

Super Orange Haze F4 X Cosmic Queen F4 *Super Sativa*
70/30 Sativa/Indica
70-80 days from sprout
1.5-3 ounce average
3 Feminized Seeds
Expect medium-sized, easy growing plants with shorter side branches that reach about half the height of the main cola. Floral and sour citrus flavors with an uplifting effect that is great for early morning and afternoon indulgences. Bag appeal is also of no concern, as this true F1 hybrid has it in spades! The Cosmic Queen reversal used for this cross was what I consider the super sativa expression of CQ. Tall, stretchy, thinner leaves, incredibly sweet resin, bag appeal, pest, and pm resistant with an elongated bud structure that is excellent for outdoors and in. Don’t miss out!

Star Krunch 1:37:18

Toof Decay x Cosmic Queen F4 *Quick Finish*
50/50 Sativa/Indica
65-75 days from sprout
1.5-3 ounce average
3 Feminized Seeds
Expect medium-sized bushes with stout branches that almost reach the height of the main cola. Extremely dense buds covered in sweet bakery and candy-flavored resin that will leave you wanting more. Cooler temperatures can bring out some beautiful fall colors that only add to her visual appeal. Stoney without the narcotic effect, great for an afternoon delight or as a post-meal treat. For the reversal I used a stocky, faster finishing Cosmic Queen as the pollen donor which will help add vigor and potency to this true F1, while keeping the stretch down.
***Be sure to keep an eye on these during early as the Toof Decay line can throw a ball or two during sexing, right where the side branches meet the main stem. It is rare, but can be brought about by stress or too strong an application of nutes during the sexing stage and seems to be most common when using humic acid. If you do see a ball pop up it can be removed and the plant will continue on fully female to finish her life. Also, keep airflow and humidity in check during the final few weeks, as the flower density can lead to bud rot in the wrong conditions. **\*

Creme De La Cosmos 1:38:23

Creme de la Soul F1 x Cosmic Queen F4 Quick Finish
50/50 Sativa/Indica
65-75 days from sprout
1.5-3 ounce average
3 Feminized Seeds
Expect medium plants with stout satellite branches reaching up to the shoulders of the main colas. Dense nugs covered in oily resin ranging in smells from red berries and sneakers to creamy grapes, this F1 polyhybrid has a lot to offer! Cooler temperatures can bring on fades of reds and purples, making her an absolute beauty in her final days. She has a balanced physical and mental high, leaning towards the stoney end of the spectrum, and will make for a great evening smoke. For the reversal I used a stocky, faster finishing Cosmic Queen as the pollen donor which will help add vigor and potency while keeping the stretch down.
Be sure to keep airflow and humidity in check during the final few weeks, as the flower density can lead to bud rot.

Shekinah 1:40:55

Supernatural OG x Cosmic Queen F4 Super Sativa
70/30 Sativa/Indica
75-85 days from sprout
2-4 ounce average
3 Feminized Seeds
Expect large, easy growing plants with sturdy branching and individual bud sites running their length, met with a medium cola cluster at their ends, with a large main cola. This F1 poly hybrid is chock full of hazey goodness! Flavors range from effervescent lemon-lime, to heavy juniper laced gin and tonic. The juniper flavors are my personal favorite and tend to kick my ass and get me super stoney, while the citrusy ones are more motivational. There’s a variety of outstanding expressions to be found in these, all on the sativa end of the spectrum. The Cosmic Queen reversal used for this cross was what I consider the super sativa expression of CQ. Tall, stretchy, thinner leaves, incredibly sweet resin, bag appeal, pest and pm resistant with an elongated bud structure that is excellent for outdoors and in. Don’t miss out!
Blessed by Hoodoo Moses I

Restock

Cosmic Apprentice (No Video)

Wizard’s Apprentice F4 x Cosmic Queen F4
Sativa
75 days from sprout
"Ready to get heady? Crossing a big-bodied sativa dominant Wizard’s Apprentice to the rush inducing Cosmic Queen resulted in a whole new variety that will keep your head in the clouds! Large plants with denser buds than Cosmic Queen, an overload of frost, and nostril piercing neon sweet and hazey scents finishing right around 75 days. If you’re into uplifting sativa effects with chunkier buds then she is definitely worth checking out."

Cheech Biggums 1:40:42

Wizard’s Apprentice F4 x Tyrone Stomper F6
Indica
70 days from sprout
A long time coming, the Cheech Biggums is sure to impress! Using a heavy Cheech Wizard dominant Wizard’s Apprentice mated to the ever-impressive Tyrone Stomper will produce medium to large, extra vigorous true F1 hybrids with fruity OG gas flavors and an occasional piney/floral expression in a quick 70ish days from sprout.
Picture of Post

February Drop Info

Copied from Daz's IG post.
Thank you all for your patience with me these past few weeks. I've been handling a lot of business behind the scenes in preparation for big things next year. 2020 was the year of staying off the radar with most of my big projects and not drawing any unnecessary attention. 2021 is the year of getting licensed and really showing you what it's all about! Thank you for your trust and faith in me during my overly cautious past few months/years. I won't let you down.🙏🌱🦉🌱🙏New photo to autos scheduled for the first half of 2021:
Pre '98 Bubba Kush x Auto Skywalker F4
Dosidos x Forum Stomper F4
Purple Punch x Forum Stomper F4
Sunset Sherbet x Forum Stomper F4
*Latest Update*The next scheduled drop Daz is aiming for is Valentine's day. This drop should include the new F4 photo to auto cultivars listed above, again as long as nothing delays this.

Originals and Regular seeds Restock

They are a work in progress
, Originals and Regular seeds shouldn't be expected till February earliest, and will MOST LIKELY be mid-2021 If there are no setbacks.

Seedbanks that carry NightOwl, and the Seedbank Drop

Not always up to date, post a comment if something has changed.
SeedBank Squanch Queen Foot Cheese Head Cheese Payment International Carry Mephisto Freebies
Neptune Seedbank Yes Yes Yes Credit Card (US Only), Bitcoin, PMC Gold, Cash Yes Yes *Need User Input
Supreme Seedbank Yes Yes Yes Money Gram/ Venmo/ Cash App/ Zelle, Money Order, Debit/ Credit (US ONLY 3.5% fee), Custom payment, Bitcoin, eGiftCertificate Yes Yes *Need User Input
Treestar Seedbank Yes Yes Yes Credit Card, Bitcoin, Money Order, Cash, Western Union, Cash App, Zelle Yes Yes Yes In-house freebies
Harvest Mutual Yes Yes Yes Cash, Money Order, Credit Card, Paypal Yes Yes Yes Masonic Freebies
Insane Seeds Yes Yes Yes Bitcoin, Cash, Credit Card Yes Yes No SALE ON HEAD CHEESE %25 OFF
DC Seed Exchange Yes Yes Yes Debit Card, Cash, Money Order, eCheck, Cryptocurrencies No Yes Sometimes / Use "5%DCSEEDS" for 5% off
Oregon Elite Seedbank Yes Yes Yes Cash, Money Order, Cryptocurrencies Yes No *Need User Input
Hembra Genetics No Yes Yes Cash, Cash App *need user input No No No / $45/pack
RMH719 SOLD OUT No No No Cash, Bitcoin *need user input No No Sometimes In-house Freebie
RMHCA SOLD OUT No No No Cash, Bitcoin, E-transfer No No Sometimes In-house Freebie

submitted by BlueJayin to MephHeads [link] [comments]

Name a 2017 / 2018 moonshot IEO that was initially popular and is now either dead or ghosting away - I'll start, SVD

SVD is Savedroid. Savedroid was an ICO in 2018 right at the peak of the mania, not quite at the top price wise, but still when greed was insanely high.
Now SVD raised an incredible $50 million, for an app that simply automates your saving. That's it. In today's environment I can see that going for maybe $500k or so, IF that. Maybe they could call themselves a Defi food coin instead and get some money in via uniswap.
Demand was very high, with all tokens sold in a week. So all it would do is you would set some criteria - say, if I do 10 push ups a day I want to save $1 into BTC, you'll input that and the app would buy the bitcoin with $1. (I have no idea why you couldn't do that manually, but anyway).
Things got off to a bad start when on day 1 the CEO, Yassin Hankir decided to pull a "fake exit scam", with a twitter message "thanks guys, over and out" with the website replaced with the message "...and its gone". He then back pedalled and said actually it was a joke and meant to show case other scammy projects. Investors weren't particularly amused, especially as this coincided with the coin listing, causing the price to plunge into the eternal depths of hell faster than Grin Coin or an FTX listing.
Well that doesn't really matter because the project seems to have died, with the founder moving onto another project, leaving behind an app that is apparently barely functional, and doesn't even allow ICO investors to use their SVD on the platform.
The ICO price was 1 cent - pretty cheap right? Well no, apparently the token price is now $0.0000541 with a daily volume of zero. Market cap it $158k, but no idea how that is calculated. Not exactly a great way to save if you were an investor!
Naturally they have been delisted from all but a couple of obscure DEXes and even there volume is dead (this is despite various promises of top exchanges).
And the cherry on top - last week the project rebranded as "Trumpbit", a new app that does the same thing (converts your money into BTC) by a certain amount each time Trump tweets. Only problem is people are having trouble moving their funds across from one platform to another, lost email addresses etc. I have no idea what happens if Trump loses the election, maybe it will be come Bidenbit or something. This is of course leaving aside the fact that your $50M ICO has rebranded to a coin named after Trump (not a political comment but a bit of a head scratcher).
You can even pop by their reddit sub, where there have been around 4 comments in 1 year, or if you are bold, visit their telegram group to see various howls of outrage and people wondering where their investment has gone.
Name and shame your preferred coin of death!
submitted by Cryptodragonnz to CryptoCurrency [link] [comments]

A single global economy of FAIL

I had a lot of fun with Jo_Bones insane vomit yesterday, that retarded chimp is a special one for sure. He inspired me to write some satire of his delusional CSWesque rant. I list some hilarious quotes from him at the end as well from the comment chain.
The original delusional rant

If all governments could agree on any single thing at any point in time, it would be an unprecedented moment in history. A "unicorn moonshot" so to speak. If the unicorn moonshot were to manifest as every government suddenly desiring to throw their already digital currencies into complete disarray and chose a technically inferior and non-compliant product in the process, then you can bet your ass they would use BSV for their fiscal policies. At the moment, here is what came up when I googled Central Banks for the first time today. Here's what came up when I googled fractional reserves. I then googled what reconciled means, and after my eyes rolled back in to my head out of sheer inability to digest the information I was reading, I decided BSV was the blockchain to solve all of this because I personally think this thing is an awesome high-school comp sci project.

If every central bank suddenly decided to relinquish state control of their monetary policy, and instead decided that the security model of 7 amateur software developers paid by an ex-felon hiding in Antigua who controls the #11 cryptocurrency on coinmarketcap was the answer, we could have the opportunity to use a strictly worse version of our current banking software and IT infrastructure. Instant transactions between bank accounts you own? Screw that, welcome to 10 minute block times! Did you fat finger that bill payment to the wrong sender? Too bad, it's gone forever! Welcome to immutability! It's a feature not a bug!

If you extrapolate how bad this is, suddenly taxes would be lower because digital monetary transactions would come to a screeching halt. Can't pay taxes on money you don't have, right? Suck that statists! The world would benefit from one giant economy of scale even though that phrase makes no sense in this context, and in reality is another buzzword I just simply don't have the time to try to understand. I forgot to Google that one I guess. This means prices around the globe would be out of control because we'd have to revert to a primal barter system! My chicken for your box of peaches! The possibilities to fuck over literally the entire world are endless!

Additionally, there would now be a high degree of transparency to how poorly BSV scales, since blocks take hours to propagate at 1GB sizes and that would only represent the hourly transactions of a town of 10,000 people, which would inevitably lead everyone to understand what 99.99% (AKA the non-mentally retarded "subset" of the population) already know.


In the comments I decided to change potential use cases from the utter nonsense I listed above to a couple different things.
https://www.reddit.com/bsv/comments/j9u2jt/a_single_global_economy_of_scale/g8ppeq7/?utm_source=share&utm_medium=web2x&context=3
Here I am demonstrating that I know currency lives in a database today:
The point is that they centrally issue and control their own tokens on the bitcoin network. I don’t see what’s so hard to understand about this. They already issue tokens on their own network. It’s just a different database.
Here I am 7 comments later saying those databases don't allow for digital cash when I just stated they did.
Your SQL databases don’t really allow for digital cash.
Shit maybe token issuance on BSV won't work time to pivot to:
But bank transfers still take days between Europe and Asia and have high fees precisely because all the banks maintain their own networks.
Think of the possibilities guys. You totally can't do this today, right?
so they can (for example) sell a YouTube video directly to the whole world, for their native national token... on the bitcoin network.
Crap, maybe there are some good points there. At least Bitcoin can push transactions out in seconds despite having a 10 minute block time! And wait until you see the block times if anyone ever does try to send a billion tx in a second!
These hashes cost bitcoin, but you can sell billions of them per second.
What do you mean risks of minority hash rate on BSV? Nobody has ever done a 51% attack and not been arrested! THEY'LL LOSE THEIR MINING EQUIPMENT!
Except that it’s illegal to attack another chain, and it’s public, and traceable and the punishment would be your company loses all its mining equipment.
I'm running out of use cases since they're getting shot down so fast. Here's a good one. Why pay $80 a month for internet in 1 transaction, when you can pay for internet 1.7trillion times every month for every data packet you get?
And the advantage of sending 0.0011p to someone might be that they’re providing a service to you, like a data packet.
But think of all the UnIqUe AnD gReAt FeAtUrEs on BSV. Really cutting edge stuff that SQL Server doesn't have due to being obsolete in the 90s, like the ability to append only instead of modify data elements! Also, watch the blockchain desync if you ever tried 1billion tx/sec!
The network scales to handle billions of TX/sec and the ledger is append only so it matches the criteria for keeping accurate records and/or updating them as needs be.
Time to pivot again since I'm being dismantled at every turn. What haven't I mentioned yet?
you haven’t solved the issue of the US dollar being the worlds default currency on which global trade relies.
Here is me doing my best Craig Wright technobabble nonsense impression. I know this is technically English but the words being strung together make no sense!
Once again you’ve really missed the point of all this. A data commodity that comes about through consensus of the network on ‘what value is’ contains a fraction of every part of the global economy.
Time to revert to some Craig Wright technobabble bullshit again:
Those in charge of producing dollars ultimately have an unfair advantage over those who don’t and they can game the system.
That’s a peer to peer internet model where producers get paid directly by consumers for the data they consume and miners get paid according to how fast and how efficiently and how accurately they can deliver the data.

Have I mentioned the fact I don't understand that blockchains are literally distributed databases?
Finally, you can send any kind of data in a bitcoin transaction. Not just fiat currencies issued by a government but audio, video, text, a webpage, etc.
And finally:
It’s very smart. Unlike you.
My transformation is complete.
submitted by pointedpointything to bsv [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

🔥Not your keys, not your coins : Why you should not use Paypal for Bitcoin

Today, PayPal announced that they will be launching a cryptocurrency digital wallet for buying, selling and storing Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
This confirms rumors which circulated earlier this year, and it is seen as a significant milestone by many in the community.
A milestone it may be, but it will impact millions of daily users who have, until now, never considered getting into cryptocurrency. For them, PayPal will be the leading authority in a space that it has long sought to discredit.
Over 221 Billion dollars were transacted in Q2 of 2020 using Paypal. That represents a rise of 10% in volume in just six months. PayPal is growing and dominating online payments as well as other services such as credit and insurance.
It has a long-established reputation of occasionally freezing user funds and censoring payments that conflict with its outlook but the payments giant continues to hold relevance where Bitcoin should have long overtaken it. Perhaps this news marks the beginning of a transition?
Is PayPal’s announcement good news for Bitcoin? Until very recently, PayPal was anti-crypto. Writing in 2018, ex-CEO Bill Harris called Bitcoin “the greatest scam ever”, so what’s changed?
This sudden turnaround is encouraging, especially as private companies like Microstrategy and Square make grandiose announcements about their own crypto diversification.
Should the community embrace them with open arms? After all, this is the start of mass adoption we’ve all been waiting for, right?
When a household brand like PayPal starts selling Bitcoin, it’s probably not because they want to spur healthy adoption. In the press release announcing their new cryptocurrency service, PayPal sends out mixed messages.
On one hand, the service will be entirely custodial, meaning users will not have the key to their own coins, while on the other they intend to “provide account holders with educational content to help them understand the cryptocurrency ecosystem”. The idea that anyone informed about bitcoin would agree to not holding their private keys might indicate that this educational content will overlook the fundamental rule of “Not your keys; not your coins”.
If millions of newcomers are onboarded to Bitcoin by PayPal, there could be a very serious information gap that jeopardizes their experience and undermines key principles of cryptocurrency.
This statement from their FAQ is, in practical terms, false: “You own the Cryptocurrency you buy on PayPal but will not be provided with a private key.” No-one should consider money held entirely by a third party as owned by them.
Time after time, exchanges have lost user funds, often leaving them with no recourse. A benefit for some will be a promise of greater regulation, where funds can be insured and new users may feel more comfortable than dealing with cryptocurrency exchanges directly, but they will be restricted from actually utilizing their coins. The only reasons to own Bitcoin which cannot be used, would be to invest for the long term, which is incredibly reckless to do when your funds are held by a third party, or speculate on its price, which again, would be introducing the masses to financial mechanisms they do not understand.
Is PayPal positioned to be a cryptocurrency leader? As it steps into the forefront, PayPal will be closely watched by companies, institutions, and consumers. While they can boast of “digital payments expertise”, they have historically taken an aggressive stance against users who bought cryptocurrency on exchanges, citing their acceptable use policy, forbidding transactions which “involve currency exchanges or check cashing businesses”.
The fact that this clause remains in their policy suggests that they intend to limit users to use only their platform for cryptocurrency, stifling competition and preventing users from ever withdrawing their cryptocurrency to the safety of a wallet they control the keys to. That said, there is something to be said for PayPal’s statement that they will “enable cryptocurrency as a funding source for digital commerce at its 26 million merchants”. Currently, the options for cryptocurrency funding are in their infancy, and Bitcoin loans could see future growth. There is only one thing about PayPal’s announcement that long-term hodlers will be celebrating today: the pump in price. Long-term, if PayPal proceeds without consulting the community and letting their users control their own keys, it offers no value to the space.
The greatest risk is that the clout they carry in traditional electronic payments will be interpreted as expertise in crypto. This would threaten the expert advice so carefully crafted by our community, which could be drowned out by the misinformed masses that PayPal brings to the space. For now, no-one can tell how it will turn out, but there are big concerns to address before informed users will turn to PayPal.
Welcome PayPal’s initiative with open arms, but by no means look to them for leadership. At best, this announcement indicates that they may fear sinking into irrelevance.
*Do not use PayPal for Bitcoin; there are many other places to buy crypto which will let you keep ownership of your coins. *
PayPal is conceding to Bitcoin, and the many other aspirational, educational projects within the community should be highlighted to prevent newcomers from falling into a trap of trusting one of Bitcoin’s greatest long-term adversaries.
Source : https://blog.trezor.io/why-you-should-not-use-paypal-for-bitcoin-f6e2d436ca96
submitted by mohiemen to CryptoCurrency [link] [comments]

What we can learn from Litecoin falling out of Top10

So as LTC is dropping out of Top10 coins on cmc for the first time (currently sitting at 12) I think it is time to get some insights out of its demise.
Many people in crypto community (especially here in btc) know that LTC is, while not being an outright shitcoin, basically a useless coin. The advantages it had over BTC were really small for most of its lifetime (except for BTC high fee times), and compared to most other alts it was inferior. It had no roadmap other than being a testing ground for BTC and backporting their changes. But what it had, was a clever marketing or "story to tell". Litecoin is silver to BTC's gold. With this simple marketing trick it managed to closely align it to Cryptos biggest Community (BTC) and also paved the way for the greatest dogma in crypto that developed over the years: that Bitcoin is not meant to be spend BTC rather hoarded like gold and if you need to make actual crypto payment you do it with Litecoin.
This marketing ensured that LTC could stay in Top10 for almost a decade, whereas other coins out of the 2011-2013 copycat altcoin era, even some that provided actual advantage (think of Peercoin for example) have long been forgotton.
So what can we learn from this? In crypto community there is a lot of joking about the market being irrational, shitcoins like IOTA which do not even work having the same price development as legit projects, useless projects pumping like mad because they spend all their ICO money on marketing, sentiments like "the market can stay longer irrational than you can solvent" and so and so on. In the case of LTC it is now possible to quantify how long the market can stay irrational in extreme cases: Almost a decade. Measured in crypto time frames almost an eternity, but not a lifespan.
Also important to note is that Litecoin compared to BCH has (even before their current artificial increase) better onchain stats regarding transaction count, active adresses etc. Nevertheless the gap between the coins continues to widen. The market DOES price in tech, future outlook, roadmap and things alike.
So in conclusion: 1. Marketing is extremely important and can outweigh actual tech and roadmap in the short and mid-term (up to 8 years in extreme cases), but not in the long term. 2. Community sentiment can have tremendous impact, just because LTC aligned closely with BTC community they managed to survive much longer than similiar projects from the era. 3. Over time the market does take into account future perspective and outlook.
BCH should take steps accordingly, continue to invest in solid and novel tech, but also increase its reputation in the wider crypto community (pro tip: not constantly shitting on other projects help). In a few years we can earn the fruit of it.
Another thing that came to my mind is that crypto market actually works the direct opposite of current stock market. In crypto, everything changes super fast but the actual market elements to work (valuing fundamental value, expectation trading) takes ages. In stock market (if you look at Tesla for example) things go way slower but basic market functions are comparably quicker (as seen in Tesla having better stock than other car manufacturers, despite being arguably profitable and delivering much less cars, but what matters is actual tech and future expectations).
What do you think of the analysis?
submitted by GeorgAnarchist to btc [link] [comments]

Do you think cryptocurrency is 'ripe' for adoption by developing countries? - Civil discussion

Do you think cryptocurrency is 'ripe' for developing countries?

Hi everyone, I am u/Mierenknager and I struggle with this question a lot. Because I am not sure if it is good to push developing countries to use Bitcoin/Alt-coins.

Why this question is important:

You can't deny cryptocurrency will change the future, of course. But right now we are still in the speculating and developing phase. While we research and test different coins or algoritms, we are already pushing developing countries to use Bitcoin/alt-coins.

Why crypto can be good and bad for developing countries:


The good points about crypto:

Bad points about crypto at the moment:

And now?

I really hope to hear your opinions about this ethical problem. Do you support crypto-currency for developing countries or not, and why?
Thanks for reading!
View Poll
submitted by MierenKnager to CryptoCurrency [link] [comments]

Unilend Finance - Listing Soon, Moonshot Expected

Hi friends, i want to tell you about UniLend project which will be listed soon.
First of all i want to tell you, Unilend team announced that CertiK has audited UFT smart contract.
The blockchain security pioneer is one of the most advanced auditors in whole-chain, smart contracts, and VAPT verification in the scene.
Certik's best-in-class cybersecurity experts have delivered end-to-end security audits for over 220 clients, including over 118k lines of code, and now UFT smart contracts as well.
Here is the announcement by the CertiK:
UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts.
UniLend Features
*Permissionless listing: Any ERC20 token will be able to list without any entity controlling the listing process, making UniLend’s features accessible to every token.
*Lending & borrowing: Users have the capability to unlock their token’s functionality for lending to receive an interest rate and for borrowing by paying an interest rate.
*Trading: A corresponding trading pair will also operate on UniLend's platform to include decentralized spot trading functionality for platform users.
*Governance: The protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus.
*Liquidity: By providing liquidity for asset trading and loans on Unilend's platform, users are able to receive fees in proportion to their liquidity pool stake.
*Native Utility Token: The native utility token of UniLend will be UFT, Unilend Finance Token. The token will have multiple use cases for governance, platform utility, and much more.
How is UniLend different to existing DeFi protocols?
Existing DeFi solutions have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap. However, the current platforms such as Compound, Aave, Maker DAO, and many more, support less than 30 assets.Some protocols offer lending and borrowing with a limited set of tokens while others offer the freedom to trade any ERC20 assets but neglect the lending and borrowing aspect.
UniLend is bridging that gap by combining the decentralization aspect of enabling any ERC20 to be utilized as collateral for lending & borrowing whilst providing the flexibility for users to also trade their assets in-platform. Ultimately, UniLend aims to unlock the full potential of digital assets for their owners.
Investors
UniLend Successfully Raises $3.1M in Seed and Private Sale Rounds Amid Overwhelming Strategic Investor Support
Unilend funding rounds attracted the attention of some of the industry’s heaviest hitters, including Woodstock Fund, Signal Ventures, 3Commas, Danish Chaudhry (Head of Bitcoin Exchange), Jay Putera (Partner at CryptoBriefing ), TRG Capital, BTC12 Capital, AU21 Capital, Youbi Capital, TomoChain, Bidesk, Bibox, Tenzor Capital, and Sandeep Nailwal (Co-founder of Matic Network).
Tokenomics
*Platform: ERC20
*Total Supply: 100,000,000 UFT
*Initial Circulating Supply: 7,777,778 (7,78%)
*Seed Round Price: $0,07 (25% released after 6 months, 25% after 12 months, 25% after 15 months and 25% after 18 months)
*Seed Round Hardcap: $700,000 (reached)
*Private Round Price: $0,12 (25% release at TGE, 25% after 3 months, 25% after 6 months and 25% after 9 months)
*Private Round Hardcap: $2,400,000 (reached)
*Public Sale: Interest form is cloesed,lottery done with partneeship Chainlink VFR, KYC process ongoing. (Hardcap: $150,000, oversubscription)
There will be a voting for Bithumb Global Listing on October 15th - 12:00 to 16:59 (UTC+8)
Conclusion
UniLend protocol is working to create a new niche in the market which has been neglected and untapped by current solutions in the DeFi space. I believe team efforts will create a level playing field in the market by enabling every token to be a part of the growing DeFi ecosystem.
submitted by walklineua to CryptoMoonShots [link] [comments]

My take on the current state of Project Catalyst

We are investing in the future of Cardano. And we have to manage our money wisely and that includes saving it. We need to attract established influencers and businesses to get involved with Project Catalyst. I want to see prototypes, working products and presentations. I would rather see the treasury grow for a year and hire Codeacademy, than giving my vote to five Cardano-only influencers.
Don't get me wrong. There are some good proposals out there. But lets expect proposal quality and price to increase with time.
My favorite proposals so far:
  1. ADA in 3055+ Bitcoin ATMS Globally!
  2. Spanish speaking content creators
submitted by euble_m to cardano [link] [comments]

Unilend Finance - Public Sale Form is Open

Hi friends, i want to tell you about UniLend project which will be listed on October 15th.
UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts.

UniLend Features
*Permissionless listing: Any ERC20 token will be able to list without any entity controlling the listing process, making UniLend’s features accessible to every token.
*Lending & borrowing: Users have the capability to unlock their token’s functionality for lending to receive an interest rate and for borrowing by paying an interest rate.
*Trading: A corresponding trading pair will also operate on UniLend's platform to include decentralized spot trading functionality for platform users.
*Governance: The protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus.
*Liquidity: By providing liquidity for asset trading and loans on Unilend's platform, users are able to receive fees in proportion to their liquidity pool stake.
*Native Utility Token: The native utility token of UniLend will be UFT, Unilend Finance Token. The token will have multiple use cases for governance, platform utility, and much more.

How is UniLend different to existing DeFi protocols?
Existing DeFi solutions have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap. However, the current platforms such as Compound, Aave, Maker DAO, and many more, support less than 30 assets.Some protocols offer lending and borrowing with a limited set of tokens while others offer the freedom to trade any ERC20 assets but neglect the lending and borrowing aspect.
UniLend is bridging that gap by combining the decentralization aspect of enabling any ERC20 to be utilized as collateral for lending & borrowing whilst providing the flexibility for users to also trade their assets in-platform. Ultimately, UniLend aims to unlock the full potential of digital assets for their owners.

Investors
UniLend Successfully Raises $3.1M in Seed and Private Sale Rounds Amid Overwhelming Strategic Investor Support

Unilend funding rounds attracted the attention of some of the industry’s heaviest hitters, including Woodstock Fund, Signal Ventures, 3Commas, Danish Chaudhry (Head of Bitcoin.com Exchange), Jay Putera (Partner at CryptoBriefing.com), TRG Capital, BTC12 Capital, AU21 Capital, Youbi Capital, TomoChain, Bidesk, Bibox, Tenzor Capital, and Sandeep Nailwal (Co-founder of Matic Network).

Tokenomics
*Platform: ERC20
*Total Supply: 100,000,000 UFT
*Initial Circulating Supply: 7,777,778 (7,78%)
*Seed Round Price: $0,07 (25% released after 6 months, 25% after 12 months, 25% after 15 months and 25% after 18 months)
*Seed Round Hardcap: $700,000 (reached)
*Private Round Price: $0,12 (25% release at TGE, 25% after 3 months, 25% after 6 months and 25% after 9 months)
*Private Round Hardcap: $2,400,000 (reached)
*Public Sale: Will be done early next week, Hardcap $150,000, interest form (open for 24 hours) + whitelist (lottery) + sale FCFS - Fixed Personal Cap: 3 ETH (Public Sale form is open now)


UFT token will be listed on October 15th on Uniswap.

**Conclusion*\*
UniLend protocol is working to create a new niche in the market which has been neglected and untapped by current solutions in the DeFi space. I believe team efforts will create a level playing field in the market by enabling every token to be a part of the growing DeFi ecosystem.

Website Twitter Telegram Linkedin Medium Reddit
submitted by waterbottles4 to ICOAnalysis [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Bitcoin Price Pumping! Get Ready for Infinite Money Printing! [Unbelievable] What is Bitcoin? Bitcoin Explained Simply for Dummies ... It's Over! Bitcoin Is Finished! Panic Now! Price Explained ... Magic Money: The Bitcoin Revolution  Full Documentary ... The most realistic Bitcoin Price and Time Forecast!

The price of bitcoin touched new highs in 2020 and a number of supporters are optimistic that the crypto asset’s value will drive higher. In addition to this year’s bitcoin price high, around ... The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.. Bitcoin is no stranger to extreme fluctuations. For each of the last four years, the cryptocurrency has either been the best or the worst performing currency – with nothing to be found in between. Bitcoin price has promptly corrected back below the elusive $12,000 mark today, as price corrected back to last week’s levels. Top-20 altcoins have not responded well, with Ethereum falling 3%, XRP dropping 4%, and Chainlink the only gainer with a 5% recovery. Top Stories for August 19, 2020 🔥 👉 DeFi Project “Spaghetti Money ... Based Money Price: $0.719441: Market Cap: $9,602,204: Market Cap Dominance: 0.00% Trading Volume: $178,164: Volume / Market Cap: 0.0186 24h Low / 24h High: $0.545379 / $0.857504: 7d Low / 7d High: $0.430976 / $0.699043: Market Cap Rank #374 All-Time High: $1,393.40-99.9% Aug 12, 2020 (2 months) All-Time Low: $0.362550 93.6% Oct 22, 2020 (4 days ... Macro strategist Raoul Pal says the price of bitcoin will reach $1 million in five years. He attributes the price increase to adoption by large pools of investors and the "enormous wall of money ...

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Bitcoin Price Pumping! Get Ready for Infinite Money Printing! [Unbelievable]

It's over, the bitcoin and crypto markets are finished, panic has taken control of the markets, today's price explained! 👨‍🎓 CRYPTOCURRENCY EXPLAINED BEGINNE... Exploring the revolutionary Bitcoin digital currency. It doesn't need banks or to be printed. It can be transferred in a second to anywhere in the world. Wit... Bitcoin's price has crashed today, is this bad? Big money still buying crypto. 💥 BEST DEBIT CARD - $50 FREE https://cryptolark.co/DEBITCARD 👨‍🎓 CRYPTO BEG... MORE MONEY WITH UNISWAP + BTC PRICE – $1000 BITCOIN CHALLENGE – WITH COINRULE Coinrule and I are taking on a challenge using their easy trading bot, starting... Bitcoin price is pumping on news of infinite money printing! Unbelievable economic insanity calls safety of economic system into question. 👨‍🎓 CRYPTOCURRENCY...

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