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Litecoin Forum / Why the special relation between BTC and LTC ?
« on: November 19, 2017, 11:57:01 AM »
I feel like there is a kind of a special relation that exist between LTC and BTC, why that ?
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17
Litecoin Forum / How will the LTC-BTC atomic swap affect the LTC price?
« on: November 19, 2017, 11:55:16 AM »
How do you think the price will move, as both these coins become interconnected ?
http://www.altcoinstalks.com/index.php?topic=1286.0
http://www.altcoinstalks.com/index.php?topic=1286.0
18
Crypto Wallets / Is there wallets to store multiple Alt coins (cryptocurrencies) in one place?
« on: October 22, 2017, 02:37:58 PM »
The best wallets options are always paper, hardware, and core wallets in terms of security and control.
However there are no core wallets that store multiple coins, instead there are exchanges and platforms.
Following are some of the best exchanges/ platforms / wallets IMO :
Bittrex
Bitstamp
Holytransaction
Bitpay
Poloniex
Kraken
Exodus
Coinomi
Electrum
Jaxx
However there are no core wallets that store multiple coins, instead there are exchanges and platforms.
Following are some of the best exchanges/ platforms / wallets IMO :
Bittrex
Bitstamp
Holytransaction
Bitpay
Poloniex
Kraken
Exodus
Coinomi
Electrum
Jaxx
19
IOTA Forum / What projects was built with IOTA?
« on: October 22, 2017, 02:30:09 PM »
I am not aware of any current IOTA projects other than a few niche developments.
However from their road map and official blog it seems their might be some very interesting projects underway.
Any projects you know of ?
However from their road map and official blog it seems their might be some very interesting projects underway.
Any projects you know of ?
20
Cryptocurrency discussions / Do Altcoins put downward pressure on Bitcoin like they do on Ethereum ?
« on: October 22, 2017, 02:05:19 PM »
As you may notice when the price of Bitcoin decrease, every altcoins follow the same pattern.
But Ethereum collected by ICOs is putting the offer on table as ICOs want to convert to fiat.
Bitcoin doesn't seem much affected by ETH price though...
But Ethereum collected by ICOs is putting the offer on table as ICOs want to convert to fiat.
Bitcoin doesn't seem much affected by ETH price though...
21
NEO Forum / Advantages of NEO
« on: October 22, 2017, 01:37:04 PM »
Functionality of NEO & GAS.
Neo is just a share of the Company. It generates revenue of about 7% per year.
Gas powers the network. You will get payed in Gas if you own Neo.
There are special perks if you own a certain amount of Gas/Neo. (Bookkeeper)
Transaction speed. Neo can support up to 10 000 transactions/second. Ethereum can do 20/second.
Languages. Neo supports Java, #C, Python (AI here we go) and many more. They are planning to integrate JavaScript as well (bye bye lisk). Ethereum can do Solidity.
Neo is just a share of the Company. It generates revenue of about 7% per year.
Gas powers the network. You will get payed in Gas if you own Neo.
There are special perks if you own a certain amount of Gas/Neo. (Bookkeeper)
Transaction speed. Neo can support up to 10 000 transactions/second. Ethereum can do 20/second.
Languages. Neo supports Java, #C, Python (AI here we go) and many more. They are planning to integrate JavaScript as well (bye bye lisk). Ethereum can do Solidity.
22
Cryptocurrency discussions / Many Ethereum competitors like NEO, EOS, NEM, etc. Are they a threat ?
« on: October 22, 2017, 01:29:34 PM »
Ethereum have a network of developers and projects supporting the Ethereum platform.
While other platforms have different and, arguably, better ways of handling certain parts of the stack, the truth is that 90% of developers and businesses building new blockchain applications are going to do it on the Ethereum platform.
This is a building effect. More developers means more projects, which leads to people making better Dev tools and learning materials, which creates better opportunities to create applications, which creates more developers and projects….
This platform effect is the most powerful thing going for Ethereum today. Even a killer platform that objectively is better than Ethereum on all fronts will have to overcome this network effect… which is no easy task.
While other platforms have different and, arguably, better ways of handling certain parts of the stack, the truth is that 90% of developers and businesses building new blockchain applications are going to do it on the Ethereum platform.
This is a building effect. More developers means more projects, which leads to people making better Dev tools and learning materials, which creates better opportunities to create applications, which creates more developers and projects….
This platform effect is the most powerful thing going for Ethereum today. Even a killer platform that objectively is better than Ethereum on all fronts will have to overcome this network effect… which is no easy task.
23
Cryptocurrency discussions / Ethereum advantages and disadvantages over Bitcoin
« on: October 22, 2017, 01:10:18 PM »
In simple terms, Bitcoin acts as a blockchain for a single decentralized application: a ledger. It is very effective at this application, but cannot expand beyond this without significant changes. Bitcoin can allow simple scripting and a weak version of smart contracts. The scripting that you can do has these limitations.
Ethereum is a platform for decentralized applications of all kinds. It works as a decentralized ledger, but new projects are being created for decentralized storage, decentralized exchanges, decentralized markets and decentralized social networks. The possibilities are endless.
Some more important factors:
Lack of Turing-completeness - that is to say, while there is a large subset of computation that the Bitcoin scripting language supports, it does not nearly support everything. The main category that is missing is loops. This is done to avoid infinite loops during transaction verification; theoretically it is a surmountable obstacle for script programmers, since any loop can be simulated by simply repeating the underlying code many times with an if statement, but it does lead to scripts that are very space-inefficient. For example, implementing an alternative elliptic curve signature algorithm would likely require 256 repeated multiplication rounds all individually included in the code.
Value-blindness - there is no way for a UTXO script to provide fine-grained control over the amount that can be withdrawn. For example, one powerful use case of an oracle contract would be a hedging contract, where A and B put in $1000 worth of BTC and after 30 days the script sends $1000 worth of BTC to A and the rest to B. This would require an oracle to determine the value of 1 BTC in USD, but even then it is a massive improvement in terms of trust and infrastructure requirement over the fully centralized solutions that are available now. However, because UTXO are all-or-nothing, the only way to achieve this is through the very inefficient hack of having many UTXO of varying denominations (eg. one UTXO of 2k for every k up to 30) and having O pick which UTXO to send to A and which to B.
Lack of state - UTXO can either be spent or unspent; there is no opportunity for multi-stage contracts or scripts which keep any other internal state beyond that. This makes it hard to make multi-stage options contracts, decentralized exchange offers or two-stage cryptographic commitment protocols (necessary for secure computational bounties). It also means that UTXO can only be used to build simple, one-off contracts and not more complex "stateful" contracts such as decentralized organizations, and makes meta-protocols difficult to implement. Binary state combined with value-blindness also mean that another important application, withdrawal limits, is impossible.
Blockchain-blindness - UTXO are blind to blockchain data such as the nonce, the timestamp and previous block hash. This severely limits applications in gambling, and several other categories, by depriving the scripting language of a potentially valuable source of randomness.
Ethereum is designed for contracts and in fact implements a Turing-complete virtual machine on the blockchain.
Ethereum is a platform for decentralized applications of all kinds. It works as a decentralized ledger, but new projects are being created for decentralized storage, decentralized exchanges, decentralized markets and decentralized social networks. The possibilities are endless.
Some more important factors:
Lack of Turing-completeness - that is to say, while there is a large subset of computation that the Bitcoin scripting language supports, it does not nearly support everything. The main category that is missing is loops. This is done to avoid infinite loops during transaction verification; theoretically it is a surmountable obstacle for script programmers, since any loop can be simulated by simply repeating the underlying code many times with an if statement, but it does lead to scripts that are very space-inefficient. For example, implementing an alternative elliptic curve signature algorithm would likely require 256 repeated multiplication rounds all individually included in the code.
Value-blindness - there is no way for a UTXO script to provide fine-grained control over the amount that can be withdrawn. For example, one powerful use case of an oracle contract would be a hedging contract, where A and B put in $1000 worth of BTC and after 30 days the script sends $1000 worth of BTC to A and the rest to B. This would require an oracle to determine the value of 1 BTC in USD, but even then it is a massive improvement in terms of trust and infrastructure requirement over the fully centralized solutions that are available now. However, because UTXO are all-or-nothing, the only way to achieve this is through the very inefficient hack of having many UTXO of varying denominations (eg. one UTXO of 2k for every k up to 30) and having O pick which UTXO to send to A and which to B.
Lack of state - UTXO can either be spent or unspent; there is no opportunity for multi-stage contracts or scripts which keep any other internal state beyond that. This makes it hard to make multi-stage options contracts, decentralized exchange offers or two-stage cryptographic commitment protocols (necessary for secure computational bounties). It also means that UTXO can only be used to build simple, one-off contracts and not more complex "stateful" contracts such as decentralized organizations, and makes meta-protocols difficult to implement. Binary state combined with value-blindness also mean that another important application, withdrawal limits, is impossible.
Blockchain-blindness - UTXO are blind to blockchain data such as the nonce, the timestamp and previous block hash. This severely limits applications in gambling, and several other categories, by depriving the scripting language of a potentially valuable source of randomness.
Ethereum is designed for contracts and in fact implements a Turing-complete virtual machine on the blockchain.
24
Cryptocurrency discussions / Altcoins that can be mined on laptop
« on: October 22, 2017, 01:05:59 PM »
Would like to make a list of these easy to mine altcoins ....
Here's some important info you need to know first:
It is possible to mine any of the Proof-of-Work coins with a laptop. That covers most of the alt-coins in existence. Proof-of-work Hashing algorithms are what make mining possible.
The problem is that millions of people are trying to do the exact same thing as you, so your chances of actually making money from mining it are slim to none.
For mining to be profitable, a person either needs a huge amount of resources and access to extremely cheap electricity or they need to start mining the coin long before it becomes popular.
Some people mine coins that are no longer popular or perhaps even considered dead coins, in the hopes that one day they will become popular again. This strategy is completely hit and miss.
The reason why mining is no longer profitable is because of specialized hardware called ASICs
ASICs : short for Application-specific integrated circuit
ASIC are specialized chips that can do the work 100s - 1000s of times faster and more efficiently than any CPU or GPU.
Therefore any coin that can be mined with an ASIC is completely unprofitable for anyone who does not use ASICs.
Because ASICs are so lucrative they are being developed for most of the Proof-of-work Algorithms.
In response to the rise of ASICs some developers have tried to make Proof-of-work algorithms that are ASIC-Resistant. Altcoins using these ASIC resistant algorithms were initially quite successful. So successful in fact, that other smart people figured out how to make ASICs for them. And so it is has become a vicious cycle.
Here is an tiny incomplete list of Cryptocurrencies and their Proof-Of-Work (Hash Algorythms).
Litecoin was initially designed to be Bitcoin ASIC resitant, until someone developed a Scrypt ASIC.
Dash (aka Dark Coin) was designed to be ASIC resistant, until someone developed an X11 ASIC.
Vertcoin was initially designed to be memory intensive and thus ASIC resistant. until someone developed a Scrypt-N ASIC, so then they changed their Proof-of-Work to use something called Lyra2RE
Monero was another coin designed to be ASIC resistant by implementing CryptoNight. I see that some people have developed a Cryptonight FPGA (FPGA is an early stage before ASIC)
Etherium as far as I know does not have ASICs developed for it yet although it is only a matter of time before either ASICs become prevalent OR they drop Proof of work completely.
ZCash is another coin that was designed to be ASIC resistant. It is unknown whether people are working on ASICs for this coin.
The bottom line is that mining with standard hardware (PCs, laptops etc) is generally considered not profitable and should only be done for educational or entertainment purposes.
Caveat: This is of course unless you are willing to put in the huge amount of time and effort required to research the thousands of alt coins in development and mine the promising ones well before they become popular.
Here's some important info you need to know first:
It is possible to mine any of the Proof-of-Work coins with a laptop. That covers most of the alt-coins in existence. Proof-of-work Hashing algorithms are what make mining possible.
The problem is that millions of people are trying to do the exact same thing as you, so your chances of actually making money from mining it are slim to none.
For mining to be profitable, a person either needs a huge amount of resources and access to extremely cheap electricity or they need to start mining the coin long before it becomes popular.
Some people mine coins that are no longer popular or perhaps even considered dead coins, in the hopes that one day they will become popular again. This strategy is completely hit and miss.
The reason why mining is no longer profitable is because of specialized hardware called ASICs
ASICs : short for Application-specific integrated circuit
ASIC are specialized chips that can do the work 100s - 1000s of times faster and more efficiently than any CPU or GPU.
Therefore any coin that can be mined with an ASIC is completely unprofitable for anyone who does not use ASICs.
Because ASICs are so lucrative they are being developed for most of the Proof-of-work Algorithms.
In response to the rise of ASICs some developers have tried to make Proof-of-work algorithms that are ASIC-Resistant. Altcoins using these ASIC resistant algorithms were initially quite successful. So successful in fact, that other smart people figured out how to make ASICs for them. And so it is has become a vicious cycle.
Here is an tiny incomplete list of Cryptocurrencies and their Proof-Of-Work (Hash Algorythms).
Litecoin was initially designed to be Bitcoin ASIC resitant, until someone developed a Scrypt ASIC.
Dash (aka Dark Coin) was designed to be ASIC resistant, until someone developed an X11 ASIC.
Vertcoin was initially designed to be memory intensive and thus ASIC resistant. until someone developed a Scrypt-N ASIC, so then they changed their Proof-of-Work to use something called Lyra2RE
Monero was another coin designed to be ASIC resistant by implementing CryptoNight. I see that some people have developed a Cryptonight FPGA (FPGA is an early stage before ASIC)
Etherium as far as I know does not have ASICs developed for it yet although it is only a matter of time before either ASICs become prevalent OR they drop Proof of work completely.
ZCash is another coin that was designed to be ASIC resistant. It is unknown whether people are working on ASICs for this coin.
The bottom line is that mining with standard hardware (PCs, laptops etc) is generally considered not profitable and should only be done for educational or entertainment purposes.
Caveat: This is of course unless you are willing to put in the huge amount of time and effort required to research the thousands of alt coins in development and mine the promising ones well before they become popular.
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