The Death of Paper :: Blockchain Letter, October 2015 by ...

What a legend. Some dude calls out the author of Forbes article and offers him a 100 BTC wager on Bitcoin hitting $1,000 before it hits $100.

This piece, is nothing more than rubbish written from ignorance. The author’s statement, “Look no further than the major exchanges, which have either gone bankrupt (Mt. Gox) or suffered major security lapses (Bitstamp). Both of which cost investors millions of dollars in unrecoverable losses.” (No losses were realized by any depositors using Bitstamp). Moreover the author fails to see past the price of a Bitcoin and seems to measure the future success of the Bitcoin/Blockchain protocol in the valuation of one Bitcoin. For those who seek profits trading Bitcoins, there is money to be made buying (long positions) or selling (selling short) and as with any commodity/currency/stock, professional traders who seek short term gains are able to take advantage of market conditions an a day to basis. However the long term future of Bitcoin and the blockchain remain unaffected by the price. To think that is short sighted to say the least. Only time will tell where this nascent technology will take us, but be assured the the final chapter is no where near being written. Long term prospects for both the price of a single Bitcoin and the future of the underlying technology are looking brighter than ever. I would be happy to offer the writer of this article a friendly wager. And I am so confident in so much as I am willing to put my Bitcoins where my mouth is. I’ll wager 100 Bitcoins, that the price of one Bitcoin will reach $1,000 USD before it trades below $100 USD. Show me how confident you are. I’m on linkedin if you want to take my Bitcoins. Meet you in Las Vegas to settle, wouldn’t want to break any law prohibiting gambling now would we?
submitted by LeeWallis to Bitcoin [link] [comments]

Agreement with Satoshi – On the Formalization of Nakamoto Consensus

Cryptology ePrint Archive: Report 2018/400
Date: 2018-05-01
Author(s): Nicholas Stifter, Aljosha Judmayer, Philipp Schindler, Alexei Zamyatin, Edgar Weippl

Link to Paper

The term Nakamoto consensus is generally used to refer to Bitcoin's novel consensus mechanism, by which agreement on its underlying transaction ledger is reached. It is argued that this agreement protocol represents the core innovation behind Bitcoin, because it promises to facilitate the decentralization of trusted third parties. Specifically, Nakamoto consensus seeks to enable mutually distrusting entities with weak pseudonymous identities to reach eventual agreement while the set of participants may change over time. When the Bitcoin white paper was published in late 2008, it lacked a formal analysis of the protocol and the guarantees it claimed to provide. It would take the scientific community several years before first steps towards such a formalization of the Bitcoin protocol and Nakamoto consensus were presented. However, since then the number of works addressing this topic has grown substantially, providing many new and valuable insights. Herein, we present a coherent picture of advancements towards the formalization of Nakamoto consensus, as well as a contextualization in respect to previous research on the agreement problem and fault tolerant distributed computing. Thereby, we outline how Bitcoin's consensus mechanism sets itself apart from previous approaches and where it can provide new impulses and directions to the scientific community. Understanding the core properties and characteristics of Nakamoto consensus is of key importance, not only for assessing the security and reliability of various blockchain systems that are based on the fundamentals of this scheme, but also for designing future systems that aim to fulfill comparable goals.

[AAC+05] Amitanand S Aiyer, Lorenzo Alvisi, Allen Clement, Mike Dahlin, Jean-Philippe Martin, and Carl Porth. Bar fault tolerance for cooperative services. In ACM SIGOPS operating systems review, volume 39, pages 45–58. ACM, 2005.
[ABSFG08] Eduardo A Alchieri, Alysson Neves Bessani, Joni Silva Fraga, and Fab´ıola Greve. Byzantine consensus with unknown participants. In Proceedings of the 12th International Conference on Principles of Distributed Systems, pages 22–40. SpringerVerlag, 2008.
[AFJ06] Dana Angluin, Michael J Fischer, and Hong Jiang. Stabilizing consensus in mobile networks. In Distributed Computing in Sensor Systems, pages 37–50. Springer, 2006.
[AJK05] James Aspnes, Collin Jackson, and Arvind Krishnamurthy. Exposing computationally-challenged byzantine impostors. Department of Computer Science, Yale University, New Haven, CT, Tech. Rep, 2005.
[AMN+16] Ittai Abraham, Dahlia Malkhi, Kartik Nayak, Ling Ren, and Alexander Spiegelman. Solidus: An incentive-compatible cryptocurrency based on permissionless byzantine consensus., Dec 2016. Accessed: 2017-02-06.
[AS98] Yair Amir and Jonathan Stanton. The spread wide area group communication system. Technical report, TR CNDS-98-4, The Center for Networking and Distributed Systems, The Johns Hopkins University, 1998.
[Bag00] Walter Bagehot. The english constitution, volume 3. Kegan Paul, Trench, Trubner, 1900. ¨
[Ban98] Bela Ban. Design and implementation of a reliable group communication toolkit for java, 1998.
[BBRTP07] Roberto Baldoni, Marin Bertier, Michel Raynal, and Sara Tucci-Piergiovanni. Looking for a definition of dynamic distributed systems. In International Conference on Parallel Computing Technologies, pages 1–14. Springer, 2007.
[Bit] Bitcoin community. Bitcoin-core source code. Accessed: 2015-06-30.
[BJ87] Ken Birman and Thomas Joseph. Exploiting virtual synchrony in distributed systems. volume 21. ACM, 1987.
[BMC+15] Joseph Bonneau, Andrew Miller, Jeremy Clark, Arvind Narayanan, Joshua A Kroll, and Edward W Felten. Sok: Research perspectives and challenges for bitcoin and cryptocurrencies. In IEEE Symposium on Security and Privacy, 2015.
[BO83] Michael Ben-Or. Another advantage of free choice (extended abstract): Completely asynchronous agreement protocols. In Proceedings of the second annual ACM symposium on Principles of distributed computing, pages 27–30. ACM, 1983.
[BPS16a] Iddo Bentov, Rafael Pass, and Elaine Shi. The sleepy model of consensus., 2016. Accessed: 2016-11-08.
[BPS16b] Iddo Bentov, Rafael Pass, and Elaine Shi. Snow white: Provably secure proofs of stake., 2016. Accessed: 2016-11-08.
[BR09] Franc¸ois Bonnet and Michel Raynal. The price of anonymity: Optimal consensus despite asynchrony, crash and anonymity. In Proceedings of the 23rd international conference on Distributed computing, pages 341–355. Springer-Verlag, 2009.
[Bre00] EA Brewer. Towards robust distributed systems. abstract. In Proceedings of the Nineteenth Annual ACM Symposium on Principles of Distributed Computing, page 7, 2000.
[BSAB+17] Shehar Bano, Alberto Sonnino, Mustafa Al-Bassam, Sarah Azouvi, Patrick McCorry, Sarah Meiklejohn, and George Danezis. Consensus in the age of blockchains. arXiv:1711.03936, 2017. Accessed:2017-12-11.
[BT16] Zohir Bouzid and Corentin Travers. Anonymity-preserving failure detectors. In International Symposium on Distributed Computing, pages 173–186. Springer, 2016.
[Can00] Ran Canetti. Security and composition of multiparty cryptographic protocols. Journal of CRYPTOLOGY, 13(1):143–202, 2000.
[Can01] Ran Canetti. Universally composable security: A new paradigm for cryptographic protocols. In Foundations of Computer Science, 2001. Proceedings. 42nd IEEE Symposium on, pages 136–145. IEEE, 2001.
[CFN90] David Chaum, Amos Fiat, and Moni Naor. Untraceable electronic cash. In Proceedings on Advances in cryptology, pages 319–327. Springer-Verlag New York, Inc., 1990.
[CGR07] Tushar D Chandra, Robert Griesemer, and Joshua Redstone. Paxos made live: an engineering perspective. In Proceedings of the twenty-sixth annual ACM symposium on Principles of distributed computing, pages 398–407. ACM, 2007.
[CGR11] Christian Cachin, Rachid Guerraoui, and Luis Rodrigues. Introduction to reliable and secure distributed programming. Springer Science & Business Media, 2011.
[CKS00] Christian Cachin, Klaus Kursawe, and Victor Shoup. Random oracles in constantinople: Practical asynchronous byzantine agreement using cryptography. In Proceedings of the nineteenth annual ACM symposium on Principles of distributed computing, pages 123–132. ACM, 2000.
[CL+99] Miguel Castro, Barbara Liskov, et al. Practical byzantine fault tolerance. In OSDI, volume 99, pages 173–186, 1999.
[CL02] Miguel Castro and Barbara Liskov. Practical byzantine fault tolerance and proactive recovery. ACM Transactions on Computer Systems (TOCS), 20(4):398–461, 2002.
[CNV04] Miguel Correia, Nuno Ferreira Neves, and Paulo Verissimo. How to tolerate half less one byzantine nodes in practical distributed systems. In Reliable Distributed Systems, 2004. Proceedings of the 23rd IEEE International Symposium on, pages 174–183. IEEE, 2004.
[Coo09] J. L. Coolidge. The gambler’s ruin. Annals of Mathematics, 10(4):181–192, 1909.
[Cri91] Flaviu Cristian. Reaching agreement on processor-group membrship in synchronous distributed systems. Distributed Computing, 4(4):175–187, 1991.
[CT96] Tushar Deepak Chandra and Sam Toueg. Unreliable failure detectors for reliable distributed systems. volume 43, pages 225–267. ACM, 1996.
[CV17] Christian Cachin and Marko Vukolic. Blockchain con- ´sensus protocols in the wild. arXiv:1707.01873, 2017. Accessed:2017-09-26.
[CVL10] Miguel Correia, Giuliana S Veronese, and Lau Cheuk Lung. Asynchronous byzantine consensus with 2f+ 1 processes. In Proceedings of the 2010 ACM symposium on applied computing, pages 475–480. ACM, 2010.
[CVNV11] Miguel Correia, Giuliana Santos Veronese, Nuno Ferreira Neves, and Paulo Verissimo. Byzantine consensus in asynchronous message-passing systems: a survey. volume 2, pages 141–161. Inderscience Publishers, 2011.
[CWA+09] Allen Clement, Edmund L Wong, Lorenzo Alvisi, Michael Dahlin, and Mirco Marchetti. Making byzantine fault tolerant systems tolerate byzantine faults. In NSDI, volume 9, pages 153–168, 2009.
[DDS87] Danny Dolev, Cynthia Dwork, and Larry Stockmeyer. On the minimal synchronism needed for distributed consensus. volume 34, pages 77–97. ACM, 1987.
[Dei] Wei Dei. b-money. Accessed on 03/03/2017.
[DGFGK10] Carole Delporte-Gallet, Hugues Fauconnier, Rachid Guerraoui, and Anne-Marie Kermarrec. Brief announcement: Byzantine agreement with homonyms. In Proceedings of the twentysecond annual ACM symposium on Parallelism in algorithms and architectures, pages 74–75. ACM, 2010.
[DGG02] Assia Doudou, Benoˆıt Garbinato, and Rachid Guerraoui. Encapsulating failure detection: From crash to byzantine failures. In International Conference on Reliable Software Technologies, pages 24–50. Springer, 2002.
[DGKR17] Bernardo David, Peter Gazi, Aggelos Kiayias, and Alexan- ˇder Russell. Ouroboros praos: An adaptively-secure, semisynchronous proof-of-stake protocol. Cryptology ePrint Archive, Report 2017/573, 2017. Accessed: 2017-06-29.
[DLP+86] Danny Dolev, Nancy A Lynch, Shlomit S Pinter, Eugene W Stark, and William E Weihl. Reaching approximate agreement in the presence of faults. volume 33, pages 499–516. ACM, 1986.
[DLS88] Cynthia Dwork, Nancy Lynch, and Larry Stockmeyer. Consensus in the presence of partial synchrony. volume 35, pages 288–323. ACM, 1988.
[DN92] Cynthia Dwork and Moni Naor. Pricing via processing or combatting junk mail. In Annual International Cryptology Conference, pages 139–147. Springer, 1992.
[Dol81] Danny Dolev. Unanimity in an unknown and unreliable environment. In Foundations of Computer Science, 1981. SFCS’81. 22nd Annual Symposium on, pages 159–168. IEEE, 1981.
[Dou02] John R Douceur. The sybil attack. In International Workshop on Peer-to-Peer Systems, pages 251–260. Springer, 2002.
[DSU04] Xavier Defago, Andr ´ e Schiper, and P ´ eter Urb ´ an. Total order ´ broadcast and multicast algorithms: Taxonomy and survey. ACM Computing Surveys (CSUR), 36(4):372–421, 2004.
[DW13] Christian Decker and Roger Wattenhofer. Information propagation in the bitcoin network. In Peer-to-Peer Computing (P2P), 2013 IEEE Thirteenth International Conference on, pages 1–10. IEEE, 2013.
[EGSvR16] Ittay Eyal, Adem Efe Gencer, Emin Gun Sirer, and Robbert van Renesse. Bitcoin-ng: A scalable blockchain protocol. In 13th USENIX Security Symposium on Networked Systems Design and Implementation (NSDI’16). USENIX Association, Mar 2016.
[ES14] Ittay Eyal and Emin Gun Sirer. Majority is not enough: Bitcoin ¨ mining is vulnerable. In Financial Cryptography and Data Security, pages 436–454. Springer, 2014.
[Fin04] Hal Finney. Reusable proofs of work (rpow)., 2004. Accessed: 2016-04-31.
[Fis83] Michael J Fischer. The consensus problem in unreliable distributed systems (a brief survey). In International Conference on Fundamentals of Computation Theory, pages 127–140. Springer, 1983.
[FL82] Michael J FISCHER and Nancy A LYNCH. A lower bound for the time to assure interactive consistency. volume 14, Jun 1982.
[FLP85] Michael J Fischer, Nancy A Lynch, and Michael S Paterson. Impossibility of distributed consensus with one faulty process. volume 32, pages 374–382. ACM, 1985.
[Fuz08] Rachele Fuzzati. A formal approach to fault tolerant distributed consensus. PhD thesis, EPFL, 2008.
[GHM+17] Yossi Gilad, Rotem Hemo, Silvio Micali, Georgios Vlachos, and Nickolai Zeldovich. Algorand: Scaling byzantine agreements for cryptocurrencies. Cryptology ePrint Archive, Report 2017/454, 2017. Accessed: 2017-06-29.
[GKL15] Juan Garay, Aggelos Kiayias, and Nikos Leonardos. The bitcoin backbone protocol: Analysis and applications. In Advances in Cryptology-EUROCRYPT 2015, pages 281–310. Springer, 2015.
[GKL16] Juan A. Garay, Aggelos Kiayias, and Nikos Leonardos. The bitcoin backbone protocol with chains of variable difficulty., 2016. Accessed: 2017-02-06.
[GKP17] Juan A. Garay, Aggelos Kiayias, and Giorgos Panagiotakos. Proofs of work for blockchain protocols. Cryptology ePrint Archive, Report 2017/775, 2017.
[GKQV10] Rachid Guerraoui, Nikola Knezevi ˇ c, Vivien Qu ´ ema, and Marko ´ Vukolic. The next 700 bft protocols. In ´ Proceedings of the 5th European conference on Computer systems, pages 363–376. ACM, 2010.
[GKTZ12] Adam Groce, Jonathan Katz, Aishwarya Thiruvengadam, and Vassilis Zikas. Byzantine agreement with a rational adversary. pages 561–572. Springer, 2012.
[GKW+16] Arthur Gervais, Ghassan O Karame, Karl Wust, Vasileios ¨ Glykantzis, Hubert Ritzdorf, and Srdjan Capkun. On the security and performance of proof of work blockchains., 2016. Accessed: 2016-08-10.
[GL02] Seth Gilbert and Nancy Lynch. Brewer’s conjecture and the feasibility of consistent, available, partition-tolerant web services. volume 33, pages 51–59. ACM, 2002.
[GRKC15] Arthur Gervais, Hubert Ritzdorf, Ghassan O Karame, and Srdjan Capkun. Tampering with the delivery of blocks and transactions in bitcoin. In Proceedings of the 22nd ACM SIGSAC Conference on Computer and Communications Security, pages 692–705. ACM, 2015.
[Her88] Maurice P Herlihy. Impossibility and universality results for wait-free synchronization. In Proceedings of the seventh annual ACM Symposium on Principles of distributed computing, pages 276–290. ACM, 1988.
[Her91] Maurice Herlihy. Wait-free synchronization. ACM Transactions on Programming Languages and Systems (TOPLAS), 13(1):124–149, 1991.
[HKZG15] Ethan Heilman, Alison Kendler, Aviv Zohar, and Sharon Goldberg. Eclipse attacks on bitcoin’s peer-to-peer network. In 24th USENIX Security Symposium (USENIX Security 15), pages 129–144, 2015.
[Hoe07] Jaap-Henk Hoepman. Distributed double spending prevention. In Security Protocols Workshop, pages 152–165. Springer, 2007.
[HT94] Vassos Hadzilacos and Sam Toueg. A modular approach to fault-tolerant broadcasts and related problems. Cornell University Technical Report 94-1425, 1994.
[IT08] Hideaki Ishii and Roberto Tempo. Las vegas randomized algorithms in distributed consensus problems. In 2008 American Control Conference, pages 2579–2584. IEEE, 2008.
[JB99] Ari Juels and John G Brainard. Client puzzles: A cryptographic countermeasure against connection depletion attacks. In NDSS, volume 99, pages 151–165, 1999.
[KMMS01] Kim Potter Kihlstrom, Louise E Moser, and P Michael MelliarSmith. The securering group communication system. ACM Transactions on Information and System Security (TISSEC), 4(4):371–406, 2001.
[KMMS03] Kim Potter Kihlstrom, Louise E Moser, and P Michael MelliarSmith. Byzantine fault detectors for solving consensus. volume 46, pages 16–35. Br Computer Soc, 2003.
[KMTZ13] Jonathan Katz, Ueli Maurer, Bjorn Tackmann, and Vassilis ¨ Zikas. Universally composable synchronous computation. In TCC, volume 7785, pages 477–498. Springer, 2013.
[KP15] Aggelos Kiayias and Giorgos Panagiotakos. Speed-security tradeoff s in blockchain protocols., Oct 2015. Accessed: 2016-10-17.
[KP16] Aggelos Kiayias and Giorgos Panagiotakos. On trees, chains and fast transactions in the blockchain., 2016. Accessed: 2017-02-06.
[KRDO16] Aggelos Kiayias, Alexander Russell, Bernardo David, and Roman Oliynykov. Ouroboros: A provably secure proof-of-stake blockchain protocol., 2016. Accessed: 2017-02-20.
[Lam84] Leslie Lamport. Using time instead of timeout for fault-tolerant distributed systems. volume 6, pages 254–280. ACM, 1984.
[Lam98] Leslie Lamport. The part-time parliament. volume 16, pages 133–169. ACM, 1998.
[LCW+06] Harry C Li, Allen Clement, Edmund L Wong, Jeff Napper, Indrajit Roy, Lorenzo Alvisi, and Michael Dahlin. Bar gossip. In Proceedings of the 7th symposium on Operating systems design and implementation, pages 191–204. USENIX Association, 2006.
[LSM06] Brian Neil Levine, Clay Shields, and N Boris Margolin. A survey of solutions to the sybil attack. University of Massachusetts Amherst, Amherst, MA, 7, 2006.
[LSP82] Leslie Lamport, Robert Shostak, and Marshall Pease. The byzantine generals problem. volume 4, pages 382–401. ACM, 1982.
[LSZ15] Yoad Lewenberg, Yonatan Sompolinsky, and Aviv Zohar. Inclusive block chain protocols. In Financial Cryptography and Data Security, pages 528–547. Springer, 2015.
[LTKS15] Loi Luu, Jason Teutsch, Raghav Kulkarni, and Prateek Saxena. Demystifying incentives in the consensus computer. In Proceedings of the 22nd ACM SIGSAC Conference on Computer and Communications Security, pages 706–719. ACM, 2015.
[Lyn96] Nancy A Lynch. Distributed algorithms. Morgan Kaufmann, 1996.
[Mic16] Silvio Micali. Algorand: The efficient and democratic ledger., 2016. Accessed: 2017-02-09.
[Mic17] Silvio Micali. Byzantine agreement, made trivial. 2017. Accessed:2018-02-21.
[MJ14] A Miller and LaViola JJ. Anonymous byzantine consensus from moderately-hard puzzles: A model for bitcoin., 2014. Accessed: 2016-03-09.
[MMRT03] Dahlia Malkhi, Michael Merritt, Michael K Reiter, and Gadi Taubenfeld. Objects shared by byzantine processes. volume 16, pages 37–48. Springer, 2003.
[MPR01] Hugo Miranda, Alexandre Pinto, and Luıs Rodrigues. Appia, a flexible protocol kernel supporting multiple coordinated channels. In Distributed Computing Systems, 2001. 21st International Conference on., pages 707–710. IEEE, 2001.
[MR97] Dahlia Malkhi and Michael Reiter. Unreliable intrusion detection in distributed computations. In Computer Security Foundations Workshop, 1997. Proceedings., 10th, pages 116–124. IEEE, 1997.
[MRT00] Achour Mostefaoui, Michel Raynal, and Fred´ eric Tronel. From ´ binary consensus to multivalued consensus in asynchronous message-passing systems. Information Processing Letters, 73(5-6):207–212, 2000.
[MXC+16] Andrew Miller, Yu Xia, Kyle Croman, Elaine Shi, and Dawn Song. The honey badger of bft protocols., 2016. Accessed: 2017-01-10.
[Nak08a] Satoshi Nakamoto. Bitcoin: A peer-to-peer electronic cash system., Dec 2008. Accessed: 2015-07-01.
[Nak08b] Satoshi Nakamoto. Bitcoin p2p e-cash paper, 2008.
[Nar16] Narayanan, Arvind and Bonneau, Joseph and Felten, Edward and Miller, Andrew and Goldfeder, Steven. Bitcoin and cryptocurrency technologies. bitcoin book.pdf?a=1, 2016. Accessed: 2016-03-29.
[Nei94] Gil Neiger. Distributed consensus revisited. Information processing letters, 49(4):195–201, 1994.
[NG16] Christopher Natoli and Vincent Gramoli. The blockchain anomaly. In Network Computing and Applications (NCA), 2016 IEEE 15th International Symposium on, pages 310–317. IEEE, 2016.
[NKMS16] Kartik Nayak, Srijan Kumar, Andrew Miller, and Elaine Shi. Stubborn mining: Generalizing selfish mining and combining with an eclipse attack. In 1st IEEE European Symposium on Security and Privacy, 2016. IEEE, 2016.
[PS16a] Rafael Pass and Elaine Shi. Fruitchains: A fair blockchain., 2016. Accessed: 2016-11-08.
[PS16b] Rafael Pass and Elaine Shi. Hybrid consensus: Scalable permissionless consensus., Sep 2016. Accessed: 2016-10-17.
[PS17] Rafael Pass and Elaine Shi. Thunderella: Blockchains with optimistic instant confirmation. Cryptology ePrint Archive, Report 2017/913, 2017. Accessed:2017-09-26.
[PSL80] Marshall Pease, Robert Shostak, and Leslie Lamport. Reaching agreement in the presence of faults. volume 27, pages 228–234. ACM, 1980.
[PSs16] Rafael Pass, Lior Seeman, and abhi shelat. Analysis of the blockchain protocol in asynchronous networks., 2016. Accessed: 2016-08-01.
[Rab83] Michael O Rabin. Randomized byzantine generals. In Foundations of Computer Science, 1983., 24th Annual Symposium on, pages 403–409. IEEE, 1983.
[Rei96] Michael K Reiter. A secure group membership protocol. volume 22, page 31, 1996.
[Ric93] Aleta M Ricciardi. The group membership problem in asynchronous systems. PhD thesis, Cornell University, 1993.
[Ros14] M. Rosenfeld. Analysis of hashrate-based double spending., 2014. Accessed: 2016-03-09.
[RSW96] Ronald L Rivest, Adi Shamir, and David A Wagner. Time-lock puzzles and timed-release crypto. 1996.
[Sch90] Fred B Schneider. Implementing fault-tolerant services using the state machine approach: A tutorial. volume 22, pages 299–319. ACM, 1990.
[SLZ16] Yonatan Sompolinsky, Yoad Lewenberg, and Aviv Zohar. Spectre: A fast and scalable cryptocurrency protocol. Cryptology ePrint Archive, Report 2016/1159, 2016. Accessed: 2017-02-20.
[SSZ15] Ayelet Sapirshtein, Yonatan Sompolinsky, and Aviv Zohar. Optimal selfish mining strategies in bitcoin., 2015. Accessed: 2016-08-22.
[SW16] David Stolz and Roger Wattenhofer. Byzantine agreement with median validity. In LIPIcs-Leibniz International Proceedings in Informatics, volume 46. Schloss Dagstuhl-Leibniz-Zentrum fuer Informatik, 2016.
[Swa15] Tim Swanson. Consensus-as-a-service: a brief report on the emergence of permissioned, distributed ledger systems., Apr 2015. Accessed: 2017-10-03.
[SZ13] Yonatan Sompolinsky and Aviv Zohar. Accelerating bitcoin’s transaction processing. fast money grows on trees, not chains, 2013.
[SZ16] Yonatan Sompolinsky and Aviv Zohar. Bitcoin’s security model revisited., 2016. Accessed: 2016-07-04.
[Sza14] Nick Szabo. The dawn of trustworthy computing., 2014. Accessed: 2017-12-01.
[TS16] Florian Tschorsch and Bjorn Scheuermann. Bitcoin and ¨ beyond: A technical survey on decentralized digital currencies. In IEEE Communications Surveys Tutorials, volume PP, pages 1–1, 2016.
[VCB+13] Giuliana Santos Veronese, Miguel Correia, Alysson Neves Bessani, Lau Cheuk Lung, and Paulo Verissimo. Efficient byzantine fault-tolerance. volume 62, pages 16–30. IEEE, 2013.
[Ver03] Paulo Ver´ıssimo. Uncertainty and predictability: Can they be reconciled? In Future Directions in Distributed Computing, pages 108–113. Springer, 2003.
[Vuk15] Marko Vukolic. The quest for scalable blockchain fabric: ´ Proof-of-work vs. bft replication. In International Workshop on Open Problems in Network Security, pages 112–125. Springer, 2015.
[Vuk16] Marko Vukolic. Eventually returning to strong consistency., 2016. Accessed: 2016-08-10.
[XWS+17] Xiwei Xu, Ingo Weber, Mark Staples, Liming Zhu, Jan Bosch, Len Bass, Cesare Pautasso, and Paul Rimba. A taxonomy of blockchain-based systems for architecture design. In Software Architecture (ICSA), 2017 IEEE International Conference on , pages 243–252. IEEE, 2017.
[YHKC+16] Jesse Yli-Huumo, Deokyoon Ko, Sujin Choi, Sooyong Park, and Kari Smolander. Where is current research on blockchain technology? – a systematic review. volume 11, page e0163477. Public Library of Science, 2016.
[ZP17] Ren Zhang and Bart Preneel. On the necessity of a prescribed block validity consensus: Analyzing bitcoin unlimited mining protocol., 2017. Accessed: 2017-07-20.
submitted by dj-gutz to myrXiv [link] [comments]

Welcome to the FLO subreddit! Here you can learn about FLO and its use as a worldwide public record in many blockchain-based applications

FLO: a worldwide public record

What is FLO?
FLO is a cryptocurrency that introduces a worldwide public record for storing information. FLO coins are needed to pay for storage capacity, and coins are issued to reward participants for their work to secure and distribute information.
FLO is used to send payments and store data. This encourages building applications because anyone has the ability to write data into FLO.
How does FLO work?
FLO is a network similar to bitcoin where the open ledger is secured by miners competing to find proof-of-work. FLO has its own ledger, called the FLO blockchain, that can be thought of as a digital public space for storing information.

Release files


Technical Specifications

Block target spacing: 40 seconds
Difficulty retargets every blocks
Block reward: 100 FLO, halving every 800,000 blocks (about 1 year)
Maximum coins: 160 million FLONetwork port: 7312RPC port: 7313

Mining Information

See our mining guide here:

Block explorers


Indacoin Exchange
Coin swap services


Alexandria Rocket Chat
Medium Blog
IRC channel Join #florincoin on
FLO Slack


Notable Partnerships:

California Institute of Technology-
Overstock's tZERO -
Open Index Protocol Working Group- /
Medici Ventures-

Apps running on top of the FLO blockchain:
OIP apps
Open Index Protocol -
Alexandria -
California Institute of Technology -
Medici Ventures -
Block Header -
FLO native apps
Overstock's tZERO -
Shared Secret -
Notarize with Flotorizer -
World Mood -
Aterna Love - -


Official web site
Github links for Alexandria, OIP, Ranchi, and FLO
FLO Foundation
Florincoin and Alexandria presentation @ BitDevs NYC 5/24/17
Florincoin @ CryptoCurrency Convention NYC 4/9/14
Florin article @ bitcoinist
Blockchain bootstrap from!u15HSADT!nstJ67-mKnWZbMPwddeRJoxEnNneS_94yTfLHoeNQyg
FLO market data read from FLO blockchain visualised
The Decentralized Library of Alexandria - San Diego Bitcoin Meetup 08/15
Blocktech Project Alexandria v0.4 alpha Intro and Walkthrough
Alexandria v0.5.1 alpha demo
FLO History
Launched June 17th 2013, the first coin with a metadata field on the blockchain for the purpose of building blockchain applications.
2013 * Jun 17th: FLO released with no pre-mine and no ICO * Jul 9th: Florincoin is the 61st coin added to Cryptsy, the first major altcoin exchange * Sep 9th: Created the first block explorer,, an open source explorer which is later replaced with * Nov 27th: Coordinated with Skyangel on a hard-fork (required update) to increase the transaction comment size to 528 bytes * Dec 10th: Started work on new website * Dec 16th: Songs of Love, a charity for children based in NYC, beings accepting FLO donations to make customized songs for children in need
2014 * Feb 1st: Created the FLO twitter account (Originally @Official_Florin) * Feb 1st: Created a website, Aterna Love, to store valentine's day messages in the blockchain. Those messages still exist today * Feb 12th: Promoted FLO at the bitcoin center in NYC, with interview by Naomi Brockwell * Mar 2nd: Launched new website * Mar 20th: Florincoin subreddit created (originally /florincoin) * Apr 9th: Presentation about Florincoin at the 1st Cryptocurrency Convention at the scholastic auditorium in NYC * Apr 12th: skyangel releases Florin v0.6.5.13, a hard fork at block 426000, causing FLO to start adjusting difficulty every block * Jun 21st: skyangel releases Florin v0.8.7.2, up to date with the latest Litecoin codebase * Jun 22nd: article: exclusive Q&A with Joseph Fiscella * Sep 20th: Alexandria team meets in San Diego to work on the project as a team for the first time * Oct 4th: Inside Bitcoins Las Vegas conference with the Alexandria Booth
2015 * Jan 1st: FLO and Alexandria mentioned in a chapter about blockchain applications in Melanie Swan's book Blockchain: A Blueprint for a New Economy * Mar 3rd: Released the first golang SDK for Florincoin, foundation, on github: - - * Mar 11th: FLO is open for trading on Bittrex * Mar 11th: FLO is open for trading on Poloniex * Apr 17th: Alexandria 0.4 walkthrough video: * Jun 10th: interview with Alexandria * Jun 25th: Alexandria historian is born and begins recording historic data on the blockchain * Jun 29th: VICE article about Alexandria released: Could Cyberwar Cause a Library of Alexandria Event? * Aug 5th: LA times article about Blockchain Technology Group / Alexandria * Sep 24th: CoinTelegraph article about Alexandria * Dec 9th: Alexandria v0.5.1 alpha demo * Dec 16th: Alexandria booth at Inside Bitcoins San Diego
2016 * Mar 25th: FLO released by Bitspill and the Alexandria team, as well as a pool mining historian blocks * Apr 8th: FLO used to store Libertarian Party votes in blockchain * May 3rd: Alexandria meetup in NYC (video URL missing) * Jun 19th: FLO recommended update to latest Litecoin codebase * Nov 27: Alexandria presentation at DAppHack Berlin 2016
2017 * May 15th: FLO meetup in NYC, Telegram channel created * May 25th: FLO/Alexandria presentation lived streamed from BitDevs NYC: * July 12th: Introducing Alexandria and the Open Index Protocol * July 28th: Amy's blog post about the Alexandria team's visit to San Diego * Aug 20th: Valentin Jesse creates a FLO touchbar app for the 2017 MacBookPro * Nov 29th: New logo and new website concept released and revealed to community in the rebranding initiative * Dec 22nd: New website launched: * Dec 22nd: Flotorizer launched at, Medium article written by Davi Ortega describing the creation of a FLO blockchain application as a non-programmer * Dec 24th: FLO Community Update * Dec 31st:, the first blockchain-based implementation of Shamir's Secret Sharing algorithm, is live (again created by Davi Ortega)
2018 * Jan 13th: Live-streaming FLO dev on * Jan 18th: FLO python SDK released * Jan 18th: FLO added to brainwalletX * Jan 18th: FLO C# SDK released * Feb 23th: FLO partners with YBF Ventures * Mar 20th: FLO releases version 0.15 with segwit support, up-to-date with current Bitcoin and Litecoin codebases: * May 1st: SPV wallet floj is open-sourced by Alexandria and Medici teams * July 17th: FLO summit 2018 held in San Diego * July 26th: Website updated with dapps dashboard
submitted by metacoin to floblockchain [link] [comments]

Entrepreneur Bruce Fenton Declared That Security Tokens Don’t Need Extra Regulation

Entrepreneur Bruce Fenton Declared That Security Tokens Don’t Need Extra Regulation
In the world of cryptocurrency, one of the most pressing questions for executives and investors is how regulatory authorities will treat digital assets. The lack of regulations does not bring anything good for consumers and entrepreneurs, so the goal is to provide the best laws for both sides.
Security tokens already work under regulatory frameworks such as Regulation D, Regulation S, Regulation A+, and Regulation Crowdfunding. But is it really necessary to make additional regulation?
CoinAgenda Global Bitcoin and Digital Currency Investors Conference were held in Las Vegas on October 24 this year and gathered crypto investors and entrepreneurs such as Bruce Fenton.
Mr. Bruce Fenton is an experienced economic advisor and the founder of Atlantic Financial, the former Executive Director and a current board member of the Bitcoin Foundation. At this conference, he stated that security tokens don’t need extra regulation from the SEC, because they have always been legal.

No Need for Extra Regulation

CoinAgenda event focused on initial coin offerings (ICOs), digital currency funds, family offices, startups, and security tokens. SEC has created a distinction between security and utility tokens, so entrepreneurs have enough space to figure out how to comply with the extra regulation involved in launching a security token.
Fenton said that these types of regulations such as KYC/AML are simply made up by “jackasses” to make people jump through hoops. He added that there is no reason for any other regulation because, since their launching, security tokens have been operating legally. They have always been legal because they’re no different from any other kind of security. He told the audience that there is no such thing as illegal security because people used to trade securities under a tree in the 1930s.
Bruce also stated that the system of trading securities dates back to 1602, without all extra rules and laws. As long as companies follow the rules on how securities should be issued, they should be able to freely issue security tokens, Fenton said.

Blockchain has a bright future

Bruce Fenton believes that blockchain technology can improve many industries and predicts a bright future despite regulation problems. Referring to the platforms as Youtube have created for content, Fenton told the audience at CoinAgenda conference that security tokens can create long-tails for capital markets. He compared that process to the way Youtube allows smaller creators to gain audiences that generate over time, with the hope that blockchain can help local businesses gain funding.
Fenton also added that with security tokens people can buy equity in their local sandwich shop and because of that, a small business can have a better chance at securing longer-term income.
submitted by TokenDashboard to u/TokenDashboard [link] [comments]

Entrepreneur Bruce Fenton Declared That Security Tokens Don’t Need Extra Regulation

Entrepreneur Bruce Fenton Declared That Security Tokens Don’t Need Extra Regulation
In the world of cryptocurrency, one of the most pressing questions for executives and investors is how regulatory authorities will treat digital assets. The lack of regulations does not bring anything good for consumers and entrepreneurs, so the goal is to provide the best laws for both sides.
Security tokens already work under regulatory frameworks such as Regulation D, Regulation S, Regulation A+, and Regulation Crowdfunding. But is it really necessary to make additional regulation?
CoinAgenda Global Bitcoin and Digital Currency Investors Conference were held in Las Vegas on October 24 this year and gathered crypto investors and entrepreneurs such as Bruce Fenton.
Mr. Bruce Fenton is an experienced economic advisor and the founder of Atlantic Financial, the former Executive Director and a current board member of the Bitcoin Foundation. At this conference, he stated that security tokens don’t need extra regulation from the SEC, because they have always been legal.

No Need for Extra Regulation

CoinAgenda event focused on initial coin offerings (ICOs), digital currency funds, family offices, startups, and security tokens. SEC has created a distinction between security and utility tokens, so entrepreneurs have enough space to figure out how to comply with the extra regulation involved in launching a security token.
Fenton said that these types of regulations such as KYC/AML are simply made up by “jackasses” to make people jump through hoops. He added that there is no reason for any other regulation because, since their launching, security tokens have been operating legally. They have always been legal because they’re no different from any other kind of security. He told the audience that there is no such thing as illegal security because people used to trade securities under a tree in the 1930s.
Bruce also stated that the system of trading securities dates back to 1602, without all extra rules and laws. As long as companies follow the rules on how securities should be issued, they should be able to freely issue security tokens, Fenton said.

Blockchain has a bright future

Bruce Fenton believes that blockchain technology can improve many industries and predicts a bright future despite regulation problems. Referring to the platforms as Youtube have created for content, Fenton told the audience at CoinAgenda conference that security tokens can create long-tails for capital markets. He compared that process to the way Youtube allows smaller creators to gain audiences that generate over time, with the hope that blockchain can help local businesses gain funding.
Fenton also added that with security tokens people can buy equity in their local sandwich shop and because of that, a small business can have a better chance at securing longer-term income.
submitted by TokenDashboard to u/TokenDashboard [link] [comments]

TheLedger.Today 1Q&A - Interview with Liza Horowitz, Chief Information Officer, FA Enterprise System Inc.

TheLedger.Today 1Q&A - Interview with Liza Horowitz, Chief Information Officer, FA Enterprise System Inc.
The Ledger Today 1Q&A is a regular series that will be showcasing professionals from all walks of the cryptocurrency and blockchain space.

Our next spotlight comes from Liza Horowitz, Chief Information Officer, FA Enterprise System Inc. You can get in touch with her personally through LinkedIn,

What did you do before blockchain?
I was employed in the Marketing Communications area for a bank.

What brought you into the space?
My client invited me to Las Vegas for an ATM banking conference in Jan 2015. I attended a few sessions on Bitcoin mining and Bitcoin ATMs. I remained curious and the conversation changed to blockchain.

What's keeping you in the space?
I love the fast moving pace, vast opportunities and enthusiastic community. I saw a different way of how people earned a living, educated themselves, did business and realized I lived in a bubble.

What lies ahead for you?
In addition to marketing, shifting rapidly to more of technical role. I am also raising money for new projects and interested in further education and partnership opportunities.

What project, other than yours are you following?
  • Decentralized exchanges
  • Protocols that claim to be close to scaling
  • Commercialized use cases for Blockchain
  • Blockchain Education

Who's your top influencer inside the blockchain space?
I have many depending on what I am looking for.
Frederick Munawa - great podcasts on specific companies
  • Nick Szabo - General
  • Ari Paul - Investments
  • Medium - so many good writers
  • Bloomberg
Who's your top influencer outside of it?
It would definitely be my husband, Mel Robbins - a motivational speaker.

Where do you see yourself in 5-10 years?
Ideally, involved in high level consulting for emerging technologies.

How do you market FABCOIN in a bear market?
With crypto at an all time low in 2018 from 2017, investors are angry, yet we continue to build community share weekly technology updates, build partnerships, expand the reach of FAB community with ambassador program.

Where can we find out more about FABCOIN?
We're very active online including social channels, please visit;
Thank you for your time Liza and all the best in your endevors within cryptocurrency and blockchain.
If you would like to be featured on TheLedger.Today 1Q&A, we'd love to hear from you. Please send me a message.
submitted by theledgertoday to TheLedgerToday [link] [comments]

Bitcoin Trading Intelligence [09.01.15]

Hope all is well guys. Our third Intelligence report is out. Again, thank you all very much for the feedback on our last Bitcoin Trading Intelligence newsletter. We hope we were able to address some of the issues from last time. Feedback and any other comments are welcome.
If you like this and want more, you can now reserve your spot in our Bitcoin Trading Intelligence platform. We haven't figured out pricing for the course yet. I would appreciate if you guys took a look at the Bitcoin Trading Intelligence platform and let me know what you think is a fair price for this. BTCVIX is our trader and with his real time alerts subscribers have a chance of making some serious money
Bitcoin in August
August has witnessed the rapid devaluation of Bitcoin, accelerated by fundamental data and augmented by technical glitches. The possible forking on the minds of the Bitcoin community, the repeated blows following the Mt Gox disaster and the effects of the BitLicense have cast a bearish shadow over the market which resulted in a month that managed to breach significant lows.
“After the stunning price action of the last couple weeks we have seen BTCUSD grind up the traders seeing patterns that aren’t there, complete chopfest. Rather than whittling away hard earned profits remember NO position IS a position — just need to know when them time is. Just like me, many other traders in the Whaleclub believe that sometimes not trading is a right decision and people should appreciate that.” BTCVIX, Professional Bitcoin Trader
Post the flash crash last week, the market has tested 200 and has been on a correction curve ever since. With many countries calling for increased regulation, let’s see how market emotions fared last week.
Nigeria’s central bank has called for Bitcoin regulation in order to stop money laundering and avoid international penalties. Dr. Okwu Nnanna the governor of the financial system at Nigeria’s Central Bank has cited that cryptocurrencies have no borders and hence are an easy channel for money laundering and thus there is a need to monitor them. AB 1236, a proposed California law to regulate virtual currencies has faced lot of opposition from industry lawyers.
It has now been amended saying companies that take ‘full custody’ of the currency are to be licensed and the bill is being backed by other major companies who are mostly made up of software developers. Another important country to look out for whose ecommerce demographic can play a pivotal role in the development of bitcoin system would be India.
With major companies like Microsoft and IBM backing bitcoin based startups, the Governor of RBI has made it clear that cryptocurrencies are being observed for now and would be regulated in the future.
The collapse of Mt Gox has racked up many controversies and the latest one, the arrest of Mark Karpeles, is over the issue of a fresh warrant for allegations that he has pocketed over $2.6 million from the company funds of Mt Gox. While Japan’s cryptocurrency scenario is restructuring for the best after the impact of Mt Gox, the Japanese Government has decided to regulate cryptocurrencies so as to avoid the risk of money laundering and terrorist funding.
How these coordinated regulations among different countries would affect/aid the growth and development of bitcoin is to be seen. While the ‘one-off’ depreciation of the Chinese Yuan has beaten the stock markets down in the USA and China, BTC China’s Greg Wolfson has remarked that the corresponding dip in prices in bitcoin is not devastating and in the times of uncertainty just like Gold, people are turning towards bitcoin as their safe haven.
The immediate correction after the dip is being seen as people hedge their positions in bitcoin.
Meanwhile on the Korean front, things are looking bright with a new exchange traded fund (ETF) tracking the value of bitcoin planned for launch on Korea Exchange next year.
This news coupled with Korean Bitcoin Exchange ‘Korbit’ announcing the launch of Bitwire, which allows people to send money using Bitcoin to any Korean bank account in less than two hours, the bitcoin ecosystem in Korea is trending towards a positive position.
On the European continent, the sentiment is consolidating with the launch of Mycelium Gear with Cashila’s API being integrated, this enables merchants to accept bitcoins that are automatically converted to Euros.
The financial crisis in Greece is here to stay for some time and bitcoin services providers like Cubit are trying to do what they can to help. Cubit in coordination with BTC-Greece is helping Greek citizens move their money out of the country to business partners and suppliers.
The aim is to try and work around the various capital controls that have been enforced in Greece in the hope that some private businesses can get back up and running once more. They have plans to install 1000 ATMS in order to make the this work. Even in the Black Sea Basin there are more than 13,600 locations where you can access bitcoin related stores, ATM and service providers.
On a corporate front, things have been picking up pace with Intel expressing its intention to unify the Internet of Things with bitcoin transactions. World Wide Web creator Tim-Berners-Lee leads the W3C to establish online payment standards, including Bitcoin, another sign of positive acceptance.
UBS’s Alex Batlin’s statements about Blockchain, saying that the technology will be an opportunity or threat to companies like UBS basing on how quick they act on it, has once again clarified that the technology is here to stay and is slowly gaining traction.
Patrick Byrne, the founder of, has acquired a broker-dealer firm built deep into the DNA of Wall Street. When the technology at the center of the acquisition is switched on, Byrne said, it will mark the first time the decentralized ledger behind bitcoin is plugged directly into Wall Street. This way it will be possible to bridge the gap between bitcoin technology and the blockchain.
With Coinbase reaching a valuation of $1 billion, it is listed as one of the top 50 tech startups in the USA. Fortifying their market share, they have launched services to purchase bitcoins through debit cards and credit cards and most recently launched in Canada.
While the service providing companies are doing well, the exchanges have taken a back step last week. The Bitfinex trade engine was blamed for the flash crash and many people experienced problems with exiting their positions during the crash, Australian Exchange, iGot, halted their trading activity and this has led to angst among its traders and customers.
So in conclusion, it is fair to say this past week of has seen lots turmoil in bitcoin trading with loads of negative factors contributing to the market sentiment bearish.
Long Term Technical Analysis
On a weekly scale, the market has tested its long term support level at 200 and retraced quickly to 227. The bearish arc of this swing was a strong move ranging over a month, driven by fundamental factors. The Bollinger bands in the weekly chart still remain parallel showing that the market is in bounds and judging by the regression lines, is setting up for a bull trend after consolidation.
On a long term scale, RSI is approaching oversold region while MACD just took a bearish turn crossing the signal line. Since the market is yet to consolidate, taking a long term position right as of now wouldn’t be feasible. Short term trades around 224 region with stop loss around the lows of previous week’s candle, targeting 5 SMA would be feasible. Long term trades can be planned on basis of consolidation. As soon as both Bollinger and 5 SMA become trending in the upward direction after significant consolidation, entering into trades with a long term plan would be profitable. Proper entry points for such trades would be around 220 region with stops below 217. With Market trending, possible exit points could be 266, 300 and 317.
If the market breaks out on the downside, breaking the support zone at 200, possible targets can be 157 and further drop in prices would seem likely.
Midterm Technical Analysis
In the daily chart, the support encountered around 217 region was breached and market has now found long term support at 200. With the Bollinger bands and SMA’s pointing downwards, the setup is going to remain bearish for some time until a base of consolidation is formed. The descending triangle as shown in the daily chart between the downward trend line and support line at 200 might possibly see good number of volumes being traded in the coming days. In which direction the break out would be or the setup would change will depend on how the market approaches the vertex of the triangle.
If the Bollinger bands and short term SMA’s don’t straighten out or change direction, the break out might as well be in the downward direction, continuing the set trend. The MACD is about to cross the signal line and turn bullish, RSI has crossed 30 from the downside indicating impending bullishness in the market but when the bull run takes off is to be seen.
In the medium term, it appears that it is going to be bearish/sideways for some time. Shorting opportunities at the trend line and retracement trades with 5 SMA as support hold good potential.
Short term Technical Analysis
On a short term scale, the market has retraced over 220 levels and is expected to trade in this range for some time before either consolidating and going for a reversal or crashing down further more.
We can observe that 100 SMA is offering good support and market has not been able to go beyond 34 SMA. Picking longs over 100 SMA with 34 SMA as target would be a good short term trade. With the Bollinger bands and SMA’s still pointing downwards and higher time frame charts supporting, shorting around 34 SMA would be a good option.
The possible targets for such trades would be 100 SMA and if the market gets further trendy, a crash down back to 200 levels can also be expected, although these trades have to be done with tight stop loss. The MACD and RSI don’t give much indication as the market is sideways in the short term and retracing.
Sentiment Analysis
This week saw a lot of action with countries announcing regulation moves and unveiling of technologies which ease bitcoin and blockchain adoption. While the sentiment was bearish majorly, let’s take a look at what happened in the market:
The Bank of England has announced that Bitcoin is ‘harder money’ than Gold because of Deflation. During a presentation on digital currencies, Andy Haldane, Chief Economist and the Executive Director of Monetary Analysis and Statistics of the Bank of England stated the above statement explaining that sustained adoption would see ongoing deflation.
An article from ibtimes has given a thorough analysis of how adopting blockchain technology to the existing banking system would be difficult and how Deutsche bank’s economist sees blockchain as a threat because of the lack of the IT infrastructure to support the technology involved. On educational front, Stanford has joined NYU and Duke University in offering bitcoin course, Princeton has launched its own bitcoin course on Coursera, strengthening the sentiment that cryptocurrencies are here to stay and further studies and research in these fields embedded into the course work is a strong possibility.
On the technological front, with e-coin launching Bitcoin Debit card affiliate program, which aims at bridging the gap between traditional financial services and bitcoin, it’s now possible to load bitcoins into debit cards and make payments for the transactions. With Coinbase also enabling purchase of bitcoin through debit-card/credit-card, we are now in a transformative phase where the traditional financial services are being used to develop and adopt systems that would be framework for the future bitcoin usage.
How the technology will evolve to accommodate or change the traditional banking system is to be seen.
Developments in Blockchain
On August 20th, Nasdaq revealed its plans with the underlying technology of Bitcoin and Blockchain. In an interview with efinancialnews Fredrik Voss, Vice President and head of Blockchain strategy at Nasdaq answered questions about how the program is progressing and what other applications Nasdaq is thinking of.
Nasdaq is planning to launch the private market initiative later this year and is clearly looking at commercial uses for the Blockchain now. The application of distributed ledgers in financial markets for things like settlement and custody, to create efficiency in back-office processes is the primary aim.
Another application of Blockchain this week would be the launch of John McAfee SwiftMail which is a new free peer-to-peer, proof-of-work, encrypted mail system that uses the technology underlying Bitcoin to replace email. The system is said to have very high encryption as privacy is one of the key aspects of SwiftMail.
On the techspace, what has been hogging all the limelight is the new chip for Antminer S7 by Bitmain that is believed to be more powerful than its predecessor. Bitmain, the bitcoin mining ASIC provider, announced on August 20th it is launching its fourth-generation ASIC, the BM1385. This chip is claimed to generate a 45 percent increase in hashrate while needing 50 percent less electricity than its former chip, the BM1384.
Another interesting development would be Netcoins which can supposedly turn any device (iPad, Android devices) into a bitcoin ATM. It is ideally designed for retailers to enable transactions in bitcoin and attract tech savvy customers.
News that’s also been doing rounds is about the Mike Tyson ATM. While initially the prospect was heralded to be a scam, the ATM was launched in Las Vegas with Bitcoin Direct backing the launch.
While security threats in Windows 10 has put the wallet developers in a tight situation, the iOS space is now crowded with launch of new wallets everyday making it hard for the users to choose from the many apps. Most people believe that the advanced bitcoin demographic belongs to iOS users and this is the primary reason for the competition while some say that the lack of a secure wallet in Android and security issues with Windows has led to this development.
For the same report with the Technical Graphs please see the original post: Bitcoin Trading Intelligence: September 1st, 2015
submitted by blockstreet_ceo to BitcoinMarkets [link] [comments]

Shades Of Grey Markets: How Government Overregulation Creates Counter-Economic Opportunities

"The basic law of Counter-Economics is to trade risk for profit. Having done so, one naturally (acting to remove felt unease) attempts to reduce the risks. If you reduce your risks while others continue to face the higher risks, you naturally out-compete and survive longer. And you profit." Samuel Edward Konkin III, An Agorist Primer.
In 2008, I took a software development gig at a startup in Santa Monica, CA called LP33 ( The company had originally been named MyAWOL (My Artists WithOut Labels). The “My” prefix was a not-so-subtle nod to MySpace, the giant (at that time) of the social media industry. Facebook had opened to the public in 2006, but was still an outlier in the space. Venture capitalists around the world, at that time, were dumping money on startups promising to create “The MySpace of X.” MyAWOL had been founded by music industry veterans and sought to become the premier social network for independent musicians - “The MySpace of Indie Artists.”
For the past several years, the most exciting label for a startup is “The Uber of X.” Unlike MySpace, Uber is seeing its market share continue to grow and is expanding into other areas. UberEats, for instance, is Uber’s own entry into the already established (and crowded) “Uber of Food Delivery.” The ubiquity of smartphones and mobile broadband connections has given birth to such startups as “The Uber Of Stylists” (, “The Uber of Dog Walking” (, “The Uber Of Car Rental” (, and even “The Uber Of Car Rental For Uber Drivers Who Need To Rent A Car To Use To Drive For Uber” ( It is remarkable how quickly the outlaw antics of Uber are swept aside when such antics generate profits.
It was (over-) regulation on the part of government that, ostensibly, led to Uber’s creation. It was overreaction on the part of regulatory agencies that clearly led to the creation of “The Uber Mystique.” Uber has achieved victory in the vast majority of battles it has fought with governments determined to keep the service out of certain jurisdictions. In the cases where Uber has retreated, new “Grey Market” opportunities have arisen in the space left by Uber’s absence. Uber’s brief history serves as a case study which proves that Agorist theories - put forward by Samuel Konkin in the late ‘70s and early ‘80s - give a powerful framework for a peaceful supplanting of government coercion by non-violent, market means.
Although Uber was created in San Francisco, its first significant battle was fought in New York City, the Mecca of the taxicab industry in the United States. Overregulation created the space for driver demand. Overreaction on the part of Las Vegas authorities, in their dealings with Uber, created a public relations scenario that allowed Uber to finally gain a foothold in my lucrative hometown.
In Austin, TX, overreaction by government eventually ended with Uber (and competitor, Lyft) deciding to pull up stakes and remove themselves from the municipality. The market demand created by the ensuing vacuum incubated what may turn out to be the Facebook to Uber’s Myspace. The tale of these three cities is a harbinger of the new economic paradigm that lies just on the horizon. Those who understand the paradigm will have great economic opportunity in the coming years.
The Counter-Economy is vast. Our brief study of economics tells us that this should be no surprise. The more controls and taxation a State imposes on its people, the more they will evade and defy them. Since the United States is one of the less (officially) controlled countries, and the CounterEconomy here is fairly large, the global Counter-Economy should be expected to be even larger — and it is. Samuel Edward Konkin III, An Agorist Primer
Uber launched in New York City in May of 2011, a year after the app first went live (in San Francisco). Uber arrived on the scene in the middle of the latest battle in a taxicab civil war that had already been raging for a century. Their arrival tipped the scales in favor of the Counter-Economy.
The metered cab industry first began in New York City in 1907. Immediately, grey market “illegal” cabs began plying their trade on the streets. The grey market grew alongside the white market. In Los Angeles, these illegal cabs were known as “jitneys” (a slang term for a nickel, which was their fare in the early days). By the 1930s, the grey market cabs of New York had acquired the moniker “wildcat taxis.” The wildcats were known for providing drastically reduced fares, and the licensed drivers complained that they were losing business to these illegal competitors. This claim was demonstrably unfounded, however, because by the 1960s licensed drivers (medallion holders) had a lucrative enough business that they began restricting their activities to the hub of Manhattan - refusing rides to certain “types” of people and to certain destinations. The wildcats (now known as “gypsy” cabs - a name still used today) became the primary operators in the outer boroughs - mainly Brooklyn and Queens.
In 1967, as a reaction to lobbying by medallion holders, the city ordered that medallion cabs paint their taxis yellow (gypsy cabs must paint their cars some other color) so that riders could immediately distinguish between the two. The reaction was swift. Gypsy drivers turned over or burned no less than 14 licensedmtaxis in Brooklyn. The mayor, John Lindsay, offered full police protection to medallion holders but simultaneously voiced his opposition to the law that gave birth to New York’s famous Yellow Cab.
In 1971, the city created the Taxi and Limousine Commission (TLC). In a moment of foreshadowing that would echo through the decades, the new TLC Chairman, Michael Lazar, suggested that the gypsies could become legal by simply no longer taking “street hails” and only picking up fares who had called ahead and scheduled rides. The gypsies in The Bronx organized protests of the initiative. The protests turned violent when firefighters, responding to a blaze set by the protesters, were attacked with bottles and bricks. The initiative eventually went through - creating the livery, or Black Car, industry - but the gypsies never fully left the streets.
In 2011, New York was in the middle of the implementation of the Green Cab system. A green cab is a cab licensed only to operate in the outer boroughs where the yellow cabs do not. In other words, the green cabs (or “borough cabs”) were the city’s attempt to “license the unlicensed.” Yet another battle between the state and the grey market was in full swing. The TLC began doing undercover enforcement in the boroughs, pulling over and citing gypsy drivers. The gypsies, in turn, began forming “crews” to hold onto turf and as protection against the TLC. Puncturing the tires of TLC vehicles and chasing off green cabs became necessary crew activities. Enter Uber.
In 1987, Michael Lazar, the former TLC chairman who established the livery laws, was indicted on federal racketeering charges, fined $200,000, and sentenced to 3 years in prison. Lazar’s weapon in New York’s taxi wars, regardless of its impact in 1971, has turned out to be the “sword pulled from the stone,” that has enabled Uber to triumph. Uber’s model – pre-arranged rides – falls squarely within the boundaries of the livery system. Lazar’s weak attempt at stifling the gypsies gave Uber the foothold it needed.
The 2011 green cab program, one of Michael Bloomberg’s final acts as mayor, pushed the gypsy drivers - now in fear of losing their livelihood – right into Uber’s arms. The city tried for 5 years, unsuccessfully to oust Uber. Uber stuck to its guns and “hacked” the livery system. Now there are millions of weekly Uber rides in New York City (not to mention deliveries from UberEats and UberRush). Uber’s fleet is more than 3 times the size of the entire licensed taxi fleet. Uber drivers, many of them former gypsy drivers, are averaging between $30,000 and $60,000 per month.
Had the city simply left the outer boroughs alone, the story might have been different. A yellow cab medallion, in 2011, could only be purchased at auction (the city didn’t issue new medallions). Medallions were going, at auction in 2011, for a million dollars a piece. Had the gypsies been allowed to keep their turf unmolested, Uber would have had to fight battles on 2 fronts against the yellow cabs and the TLC in Manhattan and against the gypsies in the outer boroughs. As it happened, however, the city’s overregulation united the grey market and shifted the balance of power in a Hundred-Year War.
Everyone is a resister to the extent that he survives in a society where laws control everything and give contradictory orders. All (non-coercive) human action committed in defiance of the State constitutes the Counter-Economy. (For ease of analysis, we exclude murder and theft, which are done with the disapproval of the State. Since taxation and war encompass nearly all cases of theft and murder, the few independent acts really should be classified as other forms of statism.) Since anything the State does not license or approve of is forbidden or prohibited, there are no third possibilities. Samuel Edward Konkin III, An Agorist Primer
In October of 2014, two representatives from Uber had a meeting with Bruce Breslow, the Director of Nevada’s Department of Business and Industry. Up until that time, Uber had stayed out of Vegas, a market dominated by a cartel of politically powerful taxicab companies that some call the last vestiges of “Old Las Vegas” (aka The Mob). The taxicab lobby effectively neutered the Las Vegas Monorail (the largest, privately owned, public transportation system in the US) by preventing expansion to McCarran Airport. Instead, the end of the futuristic train’s line is across the street from the airport, at MGM Grand Hotel - ample distance to prevent it’s use by air travelers. The taxi cartel is also well known in Vegas for shaking down strip clubs – charging a per-head fee for every patron brought, by taxi, to a club. The shakedown is so noxious that clubs find it more profitable to maintain fleets of complimentary limousines and party buses than to pay off the cab drivers. The Uber representatives were meeting with Breslow to see where the state itself stood on the company’s planned entry into Sin City.
Breslow told the representatives that they could either apply with the Nevada Transportation Authority as a common carrier (like a limousine company) or they could register with the aforementioned Taxicab Authority as a taxicab company. The representatives thanked Breslow for his time and walked out of the office. Two days later, Breslow, a registered Uber user himself, received an email – sent to all registered Uber users in Nevada – with the subject line “Your Uber is arriving now, Las Vegas!”
Uber’s legal department, after reviewing Nevada’s laws, had ascertained that Uber, as a ride-sharing company, was not required to be regulated as either a limousine or taxicab company. They turned on their app and drivers hit the Las Vegas Strip. The Taxicab Authority hit back. Masked Authority agents in unmarked SUVs, armed with assault rifles, used Uber’s app to tail suspected drivers. When the drivers stopped at the passenger’s destination, the agents swarmed from their cars, like movie terrorists with a neon backdrop. Drivers were arrested. Cars were impounded. A Nevada judge issued a preliminary injunction banning Uber from Nevada.
Instead of fighting a protracted battle in the courts, Uber sent a battle-tested team of lobbyists into Southern Nevada and began to fight in the court of public opinion. Suddenly there were political fundraisers for Nevada politicians, hosted by Uber, being thrown in hip Downtown Las Vegas. Twitter and Facebook ads filled Nevadans’ news feeds. By the summer of 2015, just months after that meeting in Breslow’s office, Uber had secured enough legislative votes to begin service again in Las Vegas. Their only concession, a new 3% excise tax levied against all cars for hire – including taxis. Not only did the taxicab cartel lose market share to Uber’s grey market tactics, but Uber convinced the state to punish the cartel for fighting by stealing 3% more of its revenue. The goonish tactics of the corrupt state agencies swayed public opinion toward Uber and the grey market.
The other business is Information. The Internet explosion has led the American State — for now, at any rate — to throw up its tentacles at regulation of the Information industry. Every legislative session, however, brings new attempts to tax and control the [Internet]. But consider this well: should the Counter-Economy lick the information problem, it would virtually eliminate the risk it incurs under the State's threat. That is, if you can advertise your products, reach your consumers and accept payment (a form of information), all outside the detection capabilities of the State, what enforcement of control would be left. Samuel Edward Konkin III, An Agorist Primer
Uber arrived in Austin, Texas in 2014. Unlike Las Vegas and New York City, Austin didn’t have a highly established taxi industry. However, the growing tourist base (mainly attendees of the SXSW and Austin City Limits music festivals) created a demand for more readily accessible transportation. Uber filled the void perfectly. Austin is a young, tech-savvy town that took to Uber like a duck to water. The Uber drivers I have had in Austin have been some of the most pleasant of any with whom I’ve ridden. But…statists gonna state.
Allegations of sexual assault by drivers and (of course) lobbying by cab companies became the impetus for the city fathers to demand that Uber fingerprint all their drivers (just like the taxi drivers). Uber balked at this suggestion and raised the stakes in the gunfight. Uber funded a referendum. Were Uber to win the vote, the company would be forever exempt from fingerprinting requirements. Uber played the state’s game…and Uber lost. Austin voters did not grant the exemption. As a result, Uber (and competitor Lyft) pulled up stakes and left Austin for good. In their wake, they left 10,000 unemployed drivers and even more riders without wheels.
The vacuum created by the Uber departure, combined with Austin’s peculiar culture, gave birth to a fateful experiment. In a Facebook group called Arcade City, individual drivers and riders began arranging rides privately. Riders would make a request in a post, drivers would reply with a specially formatted driver bio (called a “collage”), and the rider would pick the driver they wanted by sending a private message. Soon, thousands of rides – and quite a bit of press – were being generated.
This grey market activity attracted the curiosity of a team of software developers working in the cryptocurrency Blockchain space. The developers saw an opportunity to combine Uber with Bitcoin, creating a completely “unregulatable” platform for ride-sharing (or house sharing, or “anything-sharing”) where the Blockchain handled both payment and reputation management. Stark differences in vision between the original Austin community and the developers saw a fracturing of the project. The Austin ride-share group has kept the Arcade City name and has launched an app that moves the functionality off of Facebook and onto their own platform. The developers started Swarm City (named after the term for the nodes on their network – “the swarm”) and have been slowly rolling out their platform. Both projects embrace the grey market ethos and provide virtually no handhold for regulatory authorities. By trying to overregulate Uber, Austin created a hydra-like, unregulatable replacement. Konkin’s vision of Agorism is not a prescription for ideological action. It is, instead, a description of the world in which we live.
The Counter-Economy is growing stronger every day as technology makes the State obsolete. Every attempt by the State to overregulate creates a niche for creative entrepreneurs to avoid that regulation. Soon, a point of critical mass will be reached. A free society is the goal of many people, not all of them agorists or even libertarians. Agorists can see nothing but a free market in a free society; after all, who or what will prevent it? Samuel Edward Konkin III, An Agorist Primer.
submitted by FinnagainsAwake to CommunismAnarchy [link] [comments]

08-03 13:12 - 'One of the leading cryptocurrency mining hardware manufacturers, USOMiners ([link]) has introduced four powerful miners for Bitcoin and Litecoin Mining. The hardware - Usominer S9, Usominer S10, Usominer L3 and Usominer L3+ - are...' by /u/opllik removed from /r/Bitcoin within 8-18min

One of the leading cryptocurrency mining hardware manufacturers, USOMiners ([link]1 ) has introduced four powerful miners for Bitcoin and Litecoin Mining. The hardware - Usominer S9, Usominer S10, Usominer L3 and Usominer L3+ - are now available for ordering at a price range of $1500 and $2200.
Both Usominer S9 and Usominer S10 offer a hashing speed of 17 TH/s and 20 TH/s respectively and are by far the best mining hardware for Bitcoin mining. Usominer S9 is a special edition of well-known Antminer S9 and is Special offer for $1500, while its more powerful miners, Usominer S10 sells for $2200 a piece. Similarly, Usominer L3 and Usominer L3+ are designed for Litecoin mining with a hashing speed of 500 MH/s and 550 MH/s. They sell for $1580 and $2000 respectively.
USOMiners has been in business for almost two years now. The company started in 2015 and consists of top-level specialists with many years of experience in handling the design and development of equipment, engineering, and management. The expertise of its employees allows USOMiners to develop all the key components for the hardware in-house without having to rely on third-party solutions. The use of alternative, new methods of manufacturing also helps the company keep its prices low while offering highest performance possible.
Customers can readily buy any of the USOMiners products directly from the company's website. USOMiners accept Bitcoin and Litecoin. The crypto hardware units sold by UFOMiners are shipped only sent to Australia, Canada, China, Hong Kong, Japan, Russia, Singapore, Taiwan, United Kingdom and the United States by EMS, in addition to the United States are required to pay $100 shipping fee. All USOMiners equipment are put through a 2 stage test procedure during and after the manufacturing process to minimize the chances of defects. In addition, all the four USOMiners hardware come with a 5-year warranty against manufacturing defects to ensure its customers' peace of mind.
About USOMiners
USOMiners is a Las Vegas, Nevada-based firm specializing in cryptocurrency mining hardware, blockchain based technologies, and remote hardware access services. USOMiners employs a highly qualified team of specialists who ensure that the company is always one step ahead of the market.
USOMiners better than Antminer.
Learn more about USOMiners at - [link]2
Context Link
Go1dfish undelete link
unreddit undelete link
Author: opllik
1: 2: ww*.*somin*rs.*om
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Of Wolves and Weasels - Day 627 - Weekly Wrapup #83

Hey all, GoodShibe here!
This was your week in Dogecoin:
This Week’s oWaWs
Top Images/Memes of the Week
Other Dogecoin Communities
Dogecoin Twitch Streamers (Who went live this week)
  • Did you stream this week? Link me to your page in the comments and let's get you some subscribers!
Dogecoin Attractions – Neat or interesting things to check out/ Take part in this Week
Other Interesting Stuff
Did I miss anything? Do you have a Dogecoin community you want featured? Let me know!
All of these places are seeds. Their potential is infinite. You do not have to ‘Leave’ Reddit in order to help build up these other communities.
But take part in them. Take part in one of them. Make it your own.
Each of these different communities offer Shibes different options, different speeds, different conversations.
What will you do there? What will you build there?
It’s 8:21AM EST and Sunday is FunDay, right? Right? Our Global Hashrate is holding at ~1530 Gigahashes per second and our Difficulty is holding at ~15538.
As always, I appreciate your support!
submitted by GoodShibe to dogecoin [link] [comments]

Crypto Nights - Bitcoin Accepted - Las Vegas Money 20/20 Las Vegas Report  Cointelegraph - YouTube Blockchain Nation Las Vegas Promo What can Blockchain do for you? It’s Not About The Technology, It’s About The Money – Daniel Krawisz

Though somewhat overshadowed by more pressing trends in the payments industry, bitcoin and blockchain were a frequent topic at the annual Money20/20 conference held in Las Vegas last week. In July 2015, a Chinese mining pool, F2Pool, mined the biggest Bitcoin transaction that ever hit the blockchain. At 999 kilobytes, it took up an entire block. The now defunct had ... Bitcoin had a stand at the CES exhibition in Las Vegas last week. Photograph: Ethan Miller/Getty Images The price of one bitcoin has plunged by more than a quarter in just two days, prompting ... The Death of Paper :: Blockchain Letter, October 2015. Pantera Capital. Oct 26, 2015 · 19 min read (If you would like to receive our periodic research, weekly industry digests, or special updates ... 2015 ended with big news on the Bitcoin front. The Bitcoin company Chain used the Nasdaq Linq platform to “ ... Nasdaq also unveiled its first-ever demonstration of blockchain technology at the Money 20/20 event in Las Vegas. “The first platform of its kind, Nasdaq Linq is a digital ledger technology that leverages a blockchain to facilitate the issuance, cataloging and recording of ...

[index] [42318] [27806] [6056] [23156] [15011] [50837] [35599] [9485] [27174] [38116]

Crypto Nights - Bitcoin Accepted - Las Vegas

Presented at Bitcoin Investor Conference - Oct. 29 - 30, 2015, Las Vegas, NV More videos at: Voici un quick débrief des projets Blockchain & Crypto présents au CES 2020 à Las Vegas. J’espère que cette vidéo vous aura plus. La liste des projets présen... Aprende cómo entrar en el mundo de las criptomonedas y descubre el potencial de este nuevo ecosistema en el mundo empresarial. Entra al curso en: @bitcoin/ L... 🔴 Bill Gates Microsoft, Bitcoin Crash, Anti-Bearish Coalition, Taxes and Strategy Microsoft Global 21,223 watching Live now Skycoin ChainXchange Conference Las Vegas 2018 - Duration: 1:37. Cambridge Blockchain introductory video, featured at Money20/20 Las Vegas.