Latest news: 241
Ethereum Forum / Re: What do you like from Ethereum?
« on: August 30, 2018, 10:01:13 AM »
I hope a lot from Ethereum because it is a currency of the corruption world and all transactions are there. So I hope so much about it.
Bitcoin & Crypto Forum
. 
. 
. 
. 
.
. 
. 
Shop
This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here
Bidding Open
Show Posts
This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.
242
Monero Forum / What Is Monero? Introduction To XMR
« on: August 30, 2018, 09:37:26 AM »
Monero is the best-known of the "privacy coins" that guarantee complete anonymity.
Monero (XMR) is a cryptocurrency which focuses on being untraceable and private. Its design differs from Bitcoin’s in a few key ways, but it should be understood as a cryptocurrency similar to Bitcoin – it can be used to buy and sell things, and can be exchanged for other coins or tokens.
Monero manages to privilege the details of transactions in such a way that only the actors in the transactions can accurately verify their sending and receipt, while publicly this information is difficult to trace. This is not the case with Bitcoin and other cryptocurrencies, and therefore the difference in the privacy of transacting on the two chains should be understood as the primary value offering of Monero.
Monero uses ring signature cryptography to hide a great deal of information about transactions from the public while still ensuring that coins on the network are not counterfeit. This fact makes it perceived as a more privacy-centric cryptocurrency than Bitcoin or others with blockchains that are easier to scan.
Monero does not have a maximum supply (whereas, for instance, Bitcoin has a maximum supply of 21 million and Litecoin has one of 84 million). Instead it has a dis-inflationary emission rate, where after roughly 18.4 million XMR have been generated through mining, a stable inflation rate of .3 XMR per minute will go into effect. This will take place near the end of May, 2022. The reason for the continued emission and lack of maximum supply is to incentivize, in an ongoing way, the proof-of-work security of the Monero blockchain.
Thus, the design differences of Monero can be summarized as following:
It continues rewarding miners securing the blockchain long after the regular supply target is achieved, meaning a continued increase in supply into the future.
It is very difficult to trace and therefore more private.
Its increased privacy has given it utility on darknet markets.
As a cryptocurrency, Monero’s main application lies is in its privacy features.
Monero Offers Increased Privacy
With Bitcoin, it’s possible to look up an address and determine the source of all funds received there. With Monero, the same process requires a great deal more information about every transaction. Monero’s obvious advantages in privacy create a valuable use case in transactions which have an inherent need to be untraceable, be they legitimate or illegal.
Bitcoin has occasionally been wrongly called “anonymous.” At best, Bitcoin is pseudononymous. If there is a successful cryptocurrency which is aiming at anonymity, it would be Monero. While some cryptocurrencies like Ripple and various Ethereum tokens aim to be “regulator friendly,” Monero specifically works to make tracking and other forms of privacy invasion difficult or impossible.
Darknet Markets
One of the first arguable use cases of Bitcoin, which gave it utility and therefore value, was the Silk Road and later darknet markets. Monero has seen demand on modern darknet markets. While many factors go into the value of a cryptocurrency, having demand and utility for darknet markets generates value beyond that brought on by mere speculators. It is commonly understood that its first major jump in market capitalization and speculative trading value was a result of its being added to then-major darknet market AlphaBay.
Darknet Markets are frequently taken offline, but the market they serve is resilient, and new ones continue to rise, often adding Monero as well as other alternatives to Bitcoin. The need for convenient and private ways to transmit value online will continue to drive demand. While firms have been able to make a business of tracing transactions on the Bitcoin blockchain, the difficulty to consolidate the same level of data on Bitcoin transactions is much higher.
CryptoNote
The hashing algorithm chosen by a cryptocurrency’s designers plays an important role in its functionality. Monero uses the CryptoNote algorithm and is the first cryptocurrency of any consequence to do so. CryptoNote is seen as a CPU-friendly algorithm in that it requires a good deal of memory, a fact which makes it more expensive to produce ASIC hardware to mine the blockchain.
ASIC Resistance
An important episode took place at the end of 2017 in which Bitmain, the main producer of ASIC hardware for Bitcoin, announced that it would be producing similar hardware to mine the CryptoNight algorithm. The only coin using CryptoNight with any real market value is Monero, the rest being far down the list on both market capitalization and price. In response, the Monero team decided to make minor changes to the algorithm used by Monero, therefore making any such hardware essentially useless; and committed to doing so at regular intervals moving forward.
ASIC resistance is at the heart of decentralization. As Monero noted in their blog post on the subject, centralization is created when ASICs are introduced because only a few companies actually produce the hardware. These companies can be compelled to make changes to the hardware and they create a single point of weakness if they are relied on. Monero’s developers and community have decided to make it difficult for such a pain point to ever be created, by actively modifying code so as to maintain the ASIC-resistant nature of Monero.
Monero XMR Summary
Where Bitcoin is pseudonoymous, Monero provides the possibility of full anonymity in digital transactions. For this reason, it gets a lot of use on darknet markets, or marketplaces where the online sale of illicit substances is possible.
Monero makes it possible to hold coins of any number in relative privacy.
It does not have a limited supply, but will continue to have a very small rate of coin emission long-term.
It uses a different hashing algorithm than Bitcoin. The developers have committed to keeping the CryptoNote used by Monero ASIC-resistant, meaning it will always have a more decentralized network than other cryptocurrencies where this is not true.
Monero (XMR) is a cryptocurrency which focuses on being untraceable and private. Its design differs from Bitcoin’s in a few key ways, but it should be understood as a cryptocurrency similar to Bitcoin – it can be used to buy and sell things, and can be exchanged for other coins or tokens.
Monero manages to privilege the details of transactions in such a way that only the actors in the transactions can accurately verify their sending and receipt, while publicly this information is difficult to trace. This is not the case with Bitcoin and other cryptocurrencies, and therefore the difference in the privacy of transacting on the two chains should be understood as the primary value offering of Monero.
Monero uses ring signature cryptography to hide a great deal of information about transactions from the public while still ensuring that coins on the network are not counterfeit. This fact makes it perceived as a more privacy-centric cryptocurrency than Bitcoin or others with blockchains that are easier to scan.
Monero does not have a maximum supply (whereas, for instance, Bitcoin has a maximum supply of 21 million and Litecoin has one of 84 million). Instead it has a dis-inflationary emission rate, where after roughly 18.4 million XMR have been generated through mining, a stable inflation rate of .3 XMR per minute will go into effect. This will take place near the end of May, 2022. The reason for the continued emission and lack of maximum supply is to incentivize, in an ongoing way, the proof-of-work security of the Monero blockchain.
Thus, the design differences of Monero can be summarized as following:
It continues rewarding miners securing the blockchain long after the regular supply target is achieved, meaning a continued increase in supply into the future.
It is very difficult to trace and therefore more private.
Its increased privacy has given it utility on darknet markets.
As a cryptocurrency, Monero’s main application lies is in its privacy features.
Monero Offers Increased Privacy
With Bitcoin, it’s possible to look up an address and determine the source of all funds received there. With Monero, the same process requires a great deal more information about every transaction. Monero’s obvious advantages in privacy create a valuable use case in transactions which have an inherent need to be untraceable, be they legitimate or illegal.
Bitcoin has occasionally been wrongly called “anonymous.” At best, Bitcoin is pseudononymous. If there is a successful cryptocurrency which is aiming at anonymity, it would be Monero. While some cryptocurrencies like Ripple and various Ethereum tokens aim to be “regulator friendly,” Monero specifically works to make tracking and other forms of privacy invasion difficult or impossible.
Darknet Markets
One of the first arguable use cases of Bitcoin, which gave it utility and therefore value, was the Silk Road and later darknet markets. Monero has seen demand on modern darknet markets. While many factors go into the value of a cryptocurrency, having demand and utility for darknet markets generates value beyond that brought on by mere speculators. It is commonly understood that its first major jump in market capitalization and speculative trading value was a result of its being added to then-major darknet market AlphaBay.
Darknet Markets are frequently taken offline, but the market they serve is resilient, and new ones continue to rise, often adding Monero as well as other alternatives to Bitcoin. The need for convenient and private ways to transmit value online will continue to drive demand. While firms have been able to make a business of tracing transactions on the Bitcoin blockchain, the difficulty to consolidate the same level of data on Bitcoin transactions is much higher.
CryptoNote
The hashing algorithm chosen by a cryptocurrency’s designers plays an important role in its functionality. Monero uses the CryptoNote algorithm and is the first cryptocurrency of any consequence to do so. CryptoNote is seen as a CPU-friendly algorithm in that it requires a good deal of memory, a fact which makes it more expensive to produce ASIC hardware to mine the blockchain.
ASIC Resistance
An important episode took place at the end of 2017 in which Bitmain, the main producer of ASIC hardware for Bitcoin, announced that it would be producing similar hardware to mine the CryptoNight algorithm. The only coin using CryptoNight with any real market value is Monero, the rest being far down the list on both market capitalization and price. In response, the Monero team decided to make minor changes to the algorithm used by Monero, therefore making any such hardware essentially useless; and committed to doing so at regular intervals moving forward.
ASIC resistance is at the heart of decentralization. As Monero noted in their blog post on the subject, centralization is created when ASICs are introduced because only a few companies actually produce the hardware. These companies can be compelled to make changes to the hardware and they create a single point of weakness if they are relied on. Monero’s developers and community have decided to make it difficult for such a pain point to ever be created, by actively modifying code so as to maintain the ASIC-resistant nature of Monero.
Monero XMR Summary
Where Bitcoin is pseudonoymous, Monero provides the possibility of full anonymity in digital transactions. For this reason, it gets a lot of use on darknet markets, or marketplaces where the online sale of illicit substances is possible.
Monero makes it possible to hold coins of any number in relative privacy.
It does not have a limited supply, but will continue to have a very small rate of coin emission long-term.
It uses a different hashing algorithm than Bitcoin. The developers have committed to keeping the CryptoNote used by Monero ASIC-resistant, meaning it will always have a more decentralized network than other cryptocurrencies where this is not true.
243
XRP - Ripple Forum / What is Ripple?
« on: August 30, 2018, 09:26:51 AM »
Understanding the XRP Token and Ripple Protocol
Ripple (XRP) is a popular cryptocurrency token native to the Ripple network (RippleNet). The token has been around since 2012 and has one of the top market caps in crypto.
Ripple can be understood like this:
Ripple (XRP) is the “cryptocurrency token” native to “the Ripple Network. ” It’s the cryptocurrency that trades on the market under the symbol XRP (and its what most people mean when they say “Ripple”). To avoid confusion, one can call the native cryptocurrency token of Ripple by its proper name, XRP.
The Ripple network (also called “RippleNet”), AKA the Ripple Payment protocol, is a open source, peer-to-peer, real-time payment system (like Bitcoin’s blockchain or Ethereum’s network) that can be used to transfer both fiat currencies and the Ripple cryptocurrency XRP. A few different “products” exist on this network, each of which has a different function.
Ripple is also a company. The company develops and maintains the ripple protocol.
Ripple’s underlying system can also be described as a “realtime gross settlement system” (meaning it can be used to transfer funds and settle them in real time) that allows for currency exchange and remittance (the transfer of money); i.e. its a system for transferring money online in real time.
Its based around a shared, public database (AKA ledger) which uses a consensus process (much like Bitcoin’s blockchain).
Essentially, it’s like other cryptocurrencies and their blockchain based protocols, but uses a unique technologies and processes.
Ripple is marketed by its team to both individuals and banks and touts the fact that it can be integrated into other systems (such as into traditional banking systems).
Ripple sometimes catches flack for being marketed to big banks, however Ripple should be given credit for innovating in the cryptocurrency space and helping to bring cryptocurrency into the banking world.
FACT: Rippling is a term that helps describe the way Ripple works. Consider this passage from Wikipedia: When a non-XRP payment is made between two users that trust each other, the balance of the mutual credit line is adjusted, subject to limits set by each user. In order to send assets between users that have not directly established a trust relationship, the system tries to find a path between the two users such that each link of the path is between two users that do have a trust relationship. All balances along the path are then adjusted simultaneously and atomically. This mechanism of making payments through a network of trusted associates is named ‘rippling’. It has similarities to the age-old hawala system.
Ripple (XRP) is a popular cryptocurrency token native to the Ripple network (RippleNet). The token has been around since 2012 and has one of the top market caps in crypto.
Ripple can be understood like this:
Ripple (XRP) is the “cryptocurrency token” native to “the Ripple Network. ” It’s the cryptocurrency that trades on the market under the symbol XRP (and its what most people mean when they say “Ripple”). To avoid confusion, one can call the native cryptocurrency token of Ripple by its proper name, XRP.
The Ripple network (also called “RippleNet”), AKA the Ripple Payment protocol, is a open source, peer-to-peer, real-time payment system (like Bitcoin’s blockchain or Ethereum’s network) that can be used to transfer both fiat currencies and the Ripple cryptocurrency XRP. A few different “products” exist on this network, each of which has a different function.
Ripple is also a company. The company develops and maintains the ripple protocol.
Ripple’s underlying system can also be described as a “realtime gross settlement system” (meaning it can be used to transfer funds and settle them in real time) that allows for currency exchange and remittance (the transfer of money); i.e. its a system for transferring money online in real time.
Its based around a shared, public database (AKA ledger) which uses a consensus process (much like Bitcoin’s blockchain).
Essentially, it’s like other cryptocurrencies and their blockchain based protocols, but uses a unique technologies and processes.
Ripple is marketed by its team to both individuals and banks and touts the fact that it can be integrated into other systems (such as into traditional banking systems).
Ripple sometimes catches flack for being marketed to big banks, however Ripple should be given credit for innovating in the cryptocurrency space and helping to bring cryptocurrency into the banking world.
FACT: Rippling is a term that helps describe the way Ripple works. Consider this passage from Wikipedia: When a non-XRP payment is made between two users that trust each other, the balance of the mutual credit line is adjusted, subject to limits set by each user. In order to send assets between users that have not directly established a trust relationship, the system tries to find a path between the two users such that each link of the path is between two users that do have a trust relationship. All balances along the path are then adjusted simultaneously and atomically. This mechanism of making payments through a network of trusted associates is named ‘rippling’. It has similarities to the age-old hawala system.
244
বাংলা (Bengali) / Re: বাংলাদেশ থেকে Bitcoin (BTC) ভাঙ্গানোর কোন পদ্ধতি আছে কী?
« on: July 28, 2018, 07:18:55 PM »
আপনি এই সাইটটির মাধ্যমে আপনার বিটকয়েন সেল করতে পারেন এটি একটি বিশ্বস্ত সাইট এটি 10 মিনিটের মধ্যে প্রেমেন্ট দিয়ে থাকে https://ipdbse.com
245
বাংলা (Bengali) / Re: আয় করে নিন ২-৩টি LPC - একেকটির মূল্য বর্তমানে ৩.৫$ (CrytoBridge Listed)
« on: July 28, 2018, 07:15:03 PM »
কাজটা ঠিকমতো করতে পারলাম না সার্বারটা কাজ করতেছেনা দয়া করে একটু দেখবেন ?
246
Dash Forum / DasCoin – the currency of the future?
« on: July 27, 2018, 01:34:56 PM »
Have you missed your chance, too? Don’t worry, here comes another one! Since the creation of BitCoin, several hundred cryprocurrencies have emerged, but only some of them became more or less successful. I would like to show you a project which is very likely to become a real revolution in the world of cryptocurrencies. This project is called DasCoin which is a new, hybrid cryptocurrency. It has a great potential, mainly because it has a chance of becoming the first commonly used cryptocurrency, which means you would be able to pay with DasCoins wherever proximity cards are accepted. Let me present to you the key points.
247
Ethereum Forum / What Makes Ethereum Special?
« on: July 27, 2018, 01:29:55 PM »
As you have likely gathered at this point, Ethereum was built to be more than just a blockchain to hold the Ether cryptocurrency token and confirm transactions, Ethereum was built to be an open source and decentralized blockchain-based software creation platform that any developer can use.
At the core of this platform/network is a “blockchain-based smart contract system,” to which one contract type is the native cryptocurrency Ether (which trades under the symbol ETH). However, unlike with Bitcoin and its blockchain, Ethereum’s platform is designed to run code rather than just account for coins.
With that in mind, Ethereum can be used to do a range of things. It can be used make multiple unique cryptocurrencies, to do any type of contract, and even be used to create/store blockchain-based apps.
This can result in unique tokens/cryptocurrencies that aren’t Ether (but use the Ethereum network) like Augur, Golem, Aragon, etc, traditional contracts like insurance contracts (“contract” is a term that encompasses many things here; it goes beyond just basic contracts), and even software (like a Minecraft like game that is now hardcoded into Ethereum’s blockchain; a DApp).
With all that said, let’s go over some more Ethereum facts to move beyond what we have covered already:
FACT: Ethereum-based tokens can be traded for Ether on the EtherDelta token exchange. This is useful for trading new tokens from ICOs as soon as they launch.
Stoked on Ether yet? If not, check out this list of reasons to buy Ether.
TIP: Ethereum is the system, ether is the token, despite this… most people refer to all of this as ethereum and use the terms ether and ethereum interchangeably.
DID YOU KNOW? You can actually create your own token right now (via tokenfactory).
FACT: Ethereum initially launched as an ICO. Meanwhile, many ICOs use the Ethereum network.
FACT: Ethereum currently uses a Proof of work model of mining, but they are switching over to Poof of Stake. Learn more.
FACT: Another name for a cryptocurrency is “token.” Ethereum’s native token is called “ether.” Ethereum’s “ether” token trades under the symbol ETH and it is what most people think of when they think of Ethereum. Learn more about ether from ethereum.org.
TIP: Developers can “fork” off the Ethereum blockchain and create their own tokens (these may have different names in practice, for example KIN). Meanwhile “ethereum classic” is the original ethereum cryptocurrency. Ethereum classic still trades on cryptocurrency exchanges and can be used as cryptocurrency. A new investor probably just wants ETH (Ethereum’s ether) and a digital wallet like MyEtherWallet (or a coinbase account with a built in Ethereum wallet).[8]
FACT: Ethereum is a popular choice for ICOs due to its capabilities. About 1/2 of ICOs use ether-based coins.
At the core of this platform/network is a “blockchain-based smart contract system,” to which one contract type is the native cryptocurrency Ether (which trades under the symbol ETH). However, unlike with Bitcoin and its blockchain, Ethereum’s platform is designed to run code rather than just account for coins.
With that in mind, Ethereum can be used to do a range of things. It can be used make multiple unique cryptocurrencies, to do any type of contract, and even be used to create/store blockchain-based apps.
This can result in unique tokens/cryptocurrencies that aren’t Ether (but use the Ethereum network) like Augur, Golem, Aragon, etc, traditional contracts like insurance contracts (“contract” is a term that encompasses many things here; it goes beyond just basic contracts), and even software (like a Minecraft like game that is now hardcoded into Ethereum’s blockchain; a DApp).
With all that said, let’s go over some more Ethereum facts to move beyond what we have covered already:
FACT: Ethereum-based tokens can be traded for Ether on the EtherDelta token exchange. This is useful for trading new tokens from ICOs as soon as they launch.
Stoked on Ether yet? If not, check out this list of reasons to buy Ether.
TIP: Ethereum is the system, ether is the token, despite this… most people refer to all of this as ethereum and use the terms ether and ethereum interchangeably.
DID YOU KNOW? You can actually create your own token right now (via tokenfactory).
FACT: Ethereum initially launched as an ICO. Meanwhile, many ICOs use the Ethereum network.
FACT: Ethereum currently uses a Proof of work model of mining, but they are switching over to Poof of Stake. Learn more.
FACT: Another name for a cryptocurrency is “token.” Ethereum’s native token is called “ether.” Ethereum’s “ether” token trades under the symbol ETH and it is what most people think of when they think of Ethereum. Learn more about ether from ethereum.org.
TIP: Developers can “fork” off the Ethereum blockchain and create their own tokens (these may have different names in practice, for example KIN). Meanwhile “ethereum classic” is the original ethereum cryptocurrency. Ethereum classic still trades on cryptocurrency exchanges and can be used as cryptocurrency. A new investor probably just wants ETH (Ethereum’s ether) and a digital wallet like MyEtherWallet (or a coinbase account with a built in Ethereum wallet).[8]
FACT: Ethereum is a popular choice for ICOs due to its capabilities. About 1/2 of ICOs use ether-based coins.
248
Litecoin Forum / What is Litecoin? The Complete Litecoin Review
« on: July 27, 2018, 01:19:33 PM »
Hey, everyone! Welcome to our “What is Litecoin?” guide!
Since the birth of Bitcoin in 2009, many other coins have entered the blockchain market. Each coin believes they offer something better, which is usually related to speed, fees or scalability.
One of these coins is Litecoin, which was created in 2011. Its aim? To be a lighter version of Bitcoin. Did you know that Litecoin’s transaction times are 4 times faster than Bitcoin’s!? That’s right, and not only that, they’re cheaper too!
If you’re reading this guide, then you must still be wondering “What is Litecoin?”. Well, hold on because I’m going to tell you everything you need to know!
First, we will give you some background information about the Litecoin blockchain, and why it was created. After that, we will explain its purpose.
You are also going to learn how the technology supporting Litecoin works and some information on its security – both the good and the bad.
So, by the end of this guide on “What is Litecoin?” you will almost be an expert! What are you waiting for? Let’s find out how the Litecoin blockchain began!
Since the birth of Bitcoin in 2009, many other coins have entered the blockchain market. Each coin believes they offer something better, which is usually related to speed, fees or scalability.
One of these coins is Litecoin, which was created in 2011. Its aim? To be a lighter version of Bitcoin. Did you know that Litecoin’s transaction times are 4 times faster than Bitcoin’s!? That’s right, and not only that, they’re cheaper too!
If you’re reading this guide, then you must still be wondering “What is Litecoin?”. Well, hold on because I’m going to tell you everything you need to know!
First, we will give you some background information about the Litecoin blockchain, and why it was created. After that, we will explain its purpose.
You are also going to learn how the technology supporting Litecoin works and some information on its security – both the good and the bad.
So, by the end of this guide on “What is Litecoin?” you will almost be an expert! What are you waiting for? Let’s find out how the Litecoin blockchain began!
249
Bitcoin Gold / What is Bitcoin Gold? Everything You Need to Know About the Hard Fork.
« on: July 27, 2018, 01:15:32 PM »
Bitcoin Gold hopes to change the paradigm around mining on the Bitcoin blockchain. According to the founders, the Bitcoin blockchain has become too centralized. Large companies with huge banks of mining computers now mine the vast majority of Bitcoin. For the founders of Bitcoin Gold, having large companies control the Bitcoin network defeats the purpose of a decentralized ledger and peer-to-peer currencies.
In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.
In this guide, we cover all things Bitcoin Gold such as:
Decentralizing the Bitcoin Blockchain
SHA-256 vs Equihash
Who Received Bitcoin Gold?
How to Mine Bitcoin Gold
When Did It Go Live?
Is Bitcoin Gold a Competitor to Bitcoin?
Bitcoin Gold vs Bitcoin, Bitcoin Cash, & SegWit2x
Replay Protection After a Fork
What People are Saying About Bitcoin Gold
Decentralizing the Bitcoin Blockchain
In the very early days of Bitcoin, ordinary computers verified and completed the proof of work needed to power the Bitcoin blockchain. However, the past several years have seen rapid development in the hardware used to mine Bitcoin.
What started as normal computers on the original Bitcoin network soon graduated to specialized rigs with graphics processing units (GPUs) installed to hash the proof of work faster.
Today, the hardware has advanced even further. Application-specific integrated circuits (ASICs) now perform nearly all of the mining on the Bitcoin blockchain. These are devices built specifically for Bitcoin mining that are 1,000,000 times better at mining than your home computer. Buying, installing, and running ASICs has a high startup cost, making it difficult for the average user to get involved.
[Editor’s note: The more expensive mining becomes, the fewer people can actually do it. This means that the mining network becomes that much more centralized. The argument Bitcoin Gold wants to make is to make mining Bitcoin something everyone can do, therefore keeping the mining as decentralized as possible.]
In addition, most successful Bitcoin mining operations today involve entire rooms or warehouses full of ASICs running 24/7. Small time miners simply can’t compete.
Bitcoin Gold’s motto, “Make Bitcoin Decentralized Again,” is a tongue-in-cheek reference to Donald Trump’s election campaign slogan. However, it also references Satoshi’s original vision for Bitcoin of a peer-to-peer network where anyone could take part in the mining process. In order to change Bitcoin mining into something more equitable, Bitcoin Gold proposes changing the blockchain to eliminate ASIC mining.
SHA-256 vs Equihash
The fundamental change in Bitcoin Gold is choosing a different hashing algorithm that makes proof of work more difficult for ASICs. This is accomplished when a hashing algorithm requires more memory (RAM) to complete. Since ASICs are about pure processing power, requiring more memory bottlenecks their processing ability. This makes small-time mining on GPUs competitive once again.
The current, ASIC-driven Bitcoin blockchain uses a hashing algorithm known as SHA-256 for its proof of work. The founders of Bitcoin Gold instead use another algorithm known as Equihash. Alex Biryukov and Dmitry Khovratovich developed Equihash as an ASIC-resistant algorithm, and it has already seen success powering other cryptocurrencies, the most famous of which is Zcash.
Ultimately, changing to Equihash would make Bitcoin mining more distributed, and that’s really the only change that Bitcoin Gold proposes for the network. While mining centralization is an issue on the Bitcoin blockchain, with miners blacklisting some users or giving preference to certain transactions, there’s a limit to how much power these central miners can wield. It’s not clear that mining centralization has had an overly negative impact on Bitcoin.
If it ever did, the Bitcoin core developers could implement Equihash themselves, essentially firing all the current ASIC miners on the Bitcoin blockchain. The prospect of losing the hundreds of thousands of dollars they invested in their mining hardware with an algorithm change is enough to keep most miners on the network honest.
Who Received Bitcoin Gold?
Since Bitcoin Gold is a fork of the original Bitcoin blockchain, everyone who owned BTC before the fork received the same amount of BTG, at a 1:1 ratio. You didn’t need to do anything special to receive the BTG, but claiming it may have gotten tricky depending on how you had your wallet set up.
You’re able to trade BTG on nearly 20 exchanges. The most popular options are HitBTC, OKEx, Bitfinex, and Binance.
How to Mine Bitcoin Gold
If you’re interested in how to mine Bitcoin Gold, we’ve got good news. The set-up process is relatively simple, and you mine with just a GPU – no ASICs required.
First, you need to join a mining pool. You’ve got over ten to choose from with pool.gold as one of the most popular options. Next, download the mining software from the pool that you joined. Pool.gold has mining software available for NVIDIA and Radeon.
If you don’t have a BTG wallet, set one up. Your options include BTGWallet.online, the Bitcoin Gold Core Wallet, or any exchange that supports BTG.
Continuing with pool.gold as the example, you have separate instructions based on your GPU:
NVIDIA: Edit the start.bat file to include your Bitcoin Gold wallet address followed by the worker name.
Radeon: Edit the config.txt file to include your Bitcoin Gold wallet address followed by the worker name.
Finally, double-click “start.bat” and begin mining.
When Did It Go Live?
The Bitcoin Gold hard fork occurred on October 24, 2017, with block 491,407 on the Bitcoin blockchain. When that happened, Bitcoin Gold took a snapshot of all the balances and transactions on Bitcoin up to that point. The new blockchain began from there.
Is Bitcoin Gold a Competitor to Bitcoin?
Although Bitcoin Gold is a hard fork of the original Bitcoin blockchain, it’s not really a competitor to Bitcoin. While other hard forks, like Bitcoin Cash, cannibalized some miners from the Bitcoin network to work on the new blockchain, Bitcoin Gold’s anti-ASIC algorithm means virtually none of Bitcoin’s current miners will want to switch to mining BTG.
Instead, Bitcoin Gold competes with other anti-ASIC cryptocurrencies like Ethereum for mining power. Mining on such networks comes in the form of smaller-scale GPU mining. The problem for Bitcoin Gold is those other anti-ASIC cryptocurrencies have a longer history and are more predictable for miners. It’s not clear why a miner would want to switch to BTG, unless the price per BTG surges.
The one advantage that Bitcoin Gold has is wide dispersal. Everyone on the Bitcoin network received will receive BTG, so there’s potential for widespread adoption.
Bitcoin Gold vs Bitcoin, Bitcoin Cash, & SegWit2x
With so many forks on the Bitcoin blockchain in such quick succession, it can be confusing to keep track of the differences. Here’s a table to help you out:
Bitcoin Bitcoin Gold Bitcoin Cash SegWit2x (cancelled)
PoW Type ASIC ASIC-resistant (GPU) ASIC ASIC
Block Time ~10 mins ~10 mins ~10 mins ~10 mins
Difficulty adjustment ~2 weeks Each block ~2 weeks ~2 weeks
SegWit Yes Yes No Yes
Replay Protection – Yes Yes No
Total Coin Supply 21 million 21 million 21 million 21 million
Bitcoin Gold is the only Bitcoin fork to date to implement a new ASIC-resistant proof of work algorithm. Along with that new hashing algorithm, Bitcoin Gold implements a new difficulty adjustment with every block, gradually increasing the difficulty based on past block times. Finally, Bitcoin Gold is one of the only Bitcoin forks to support both Segregated Witness (SegWit) technology and replay protection. SegWit increases the number of transactions possible per block and replay protection prevents fraudulent parallel transactions on two forks.
Replay Protection After a Fork
A hard fork.
Replay protection is critical when implementing a fork of an existing blockchain. The shared code and wallet addresses between BTC and BTG make it possible to implement a replay attack. Basically, if you want to conduct a transaction on both BTC and BTG at the same time, you’re fine. However, if you want to pay someone in BTC and keep your BTG, you’re open to an attack. An attacker could send a false signal between the forks that causes you to lose both currencies when you only meant to send one.
Bitcoin Gold offers full replay protection on BTG to prevent such attacks. The solution involves a SIGHASH_FORK_ID mechanism that rehashes transactions, meaning they can’t be transferred across from BTC to BTG.
What People are Saying About Bitcoin Gold
Most new cryptocurrencies involve ASIC-resistant hashing algorithms, and it’s becoming something of an industry standard to promote decentralization. In that respect, Bitcoin Gold holds a lot to be excited about. At its core, it’s about transitioning the Bitcoin network to more decentralized mining.
However, as we saw above, there’s not much evidence that the current Bitcoin mining system is broken. There have been some small complaints, and it’s not ideal that the network is so centralized. Nevertheless, miners on Bitcoin have a lot to lose if they wield their power too aggressively. There are also new entrants to the Bitcoin mining community that are decentralizing control from a few key ASIC farms.
The general consensus from Bitcoin experts is there’s not enough new in Bitcoin Gold to warrant an independent investment. While it certainly doesn’t hurt to hold onto your free BTG that you receive as a result of the fork (if you owned Bitcoin before Oct 24), wait until the dust settles before deciding whether to buy more.
In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.
In this guide, we cover all things Bitcoin Gold such as:
Decentralizing the Bitcoin Blockchain
SHA-256 vs Equihash
Who Received Bitcoin Gold?
How to Mine Bitcoin Gold
When Did It Go Live?
Is Bitcoin Gold a Competitor to Bitcoin?
Bitcoin Gold vs Bitcoin, Bitcoin Cash, & SegWit2x
Replay Protection After a Fork
What People are Saying About Bitcoin Gold
Decentralizing the Bitcoin Blockchain
In the very early days of Bitcoin, ordinary computers verified and completed the proof of work needed to power the Bitcoin blockchain. However, the past several years have seen rapid development in the hardware used to mine Bitcoin.
What started as normal computers on the original Bitcoin network soon graduated to specialized rigs with graphics processing units (GPUs) installed to hash the proof of work faster.
Today, the hardware has advanced even further. Application-specific integrated circuits (ASICs) now perform nearly all of the mining on the Bitcoin blockchain. These are devices built specifically for Bitcoin mining that are 1,000,000 times better at mining than your home computer. Buying, installing, and running ASICs has a high startup cost, making it difficult for the average user to get involved.
[Editor’s note: The more expensive mining becomes, the fewer people can actually do it. This means that the mining network becomes that much more centralized. The argument Bitcoin Gold wants to make is to make mining Bitcoin something everyone can do, therefore keeping the mining as decentralized as possible.]
In addition, most successful Bitcoin mining operations today involve entire rooms or warehouses full of ASICs running 24/7. Small time miners simply can’t compete.
Bitcoin Gold’s motto, “Make Bitcoin Decentralized Again,” is a tongue-in-cheek reference to Donald Trump’s election campaign slogan. However, it also references Satoshi’s original vision for Bitcoin of a peer-to-peer network where anyone could take part in the mining process. In order to change Bitcoin mining into something more equitable, Bitcoin Gold proposes changing the blockchain to eliminate ASIC mining.
SHA-256 vs Equihash
The fundamental change in Bitcoin Gold is choosing a different hashing algorithm that makes proof of work more difficult for ASICs. This is accomplished when a hashing algorithm requires more memory (RAM) to complete. Since ASICs are about pure processing power, requiring more memory bottlenecks their processing ability. This makes small-time mining on GPUs competitive once again.
The current, ASIC-driven Bitcoin blockchain uses a hashing algorithm known as SHA-256 for its proof of work. The founders of Bitcoin Gold instead use another algorithm known as Equihash. Alex Biryukov and Dmitry Khovratovich developed Equihash as an ASIC-resistant algorithm, and it has already seen success powering other cryptocurrencies, the most famous of which is Zcash.
Ultimately, changing to Equihash would make Bitcoin mining more distributed, and that’s really the only change that Bitcoin Gold proposes for the network. While mining centralization is an issue on the Bitcoin blockchain, with miners blacklisting some users or giving preference to certain transactions, there’s a limit to how much power these central miners can wield. It’s not clear that mining centralization has had an overly negative impact on Bitcoin.
If it ever did, the Bitcoin core developers could implement Equihash themselves, essentially firing all the current ASIC miners on the Bitcoin blockchain. The prospect of losing the hundreds of thousands of dollars they invested in their mining hardware with an algorithm change is enough to keep most miners on the network honest.
Who Received Bitcoin Gold?
Since Bitcoin Gold is a fork of the original Bitcoin blockchain, everyone who owned BTC before the fork received the same amount of BTG, at a 1:1 ratio. You didn’t need to do anything special to receive the BTG, but claiming it may have gotten tricky depending on how you had your wallet set up.
You’re able to trade BTG on nearly 20 exchanges. The most popular options are HitBTC, OKEx, Bitfinex, and Binance.
How to Mine Bitcoin Gold
If you’re interested in how to mine Bitcoin Gold, we’ve got good news. The set-up process is relatively simple, and you mine with just a GPU – no ASICs required.
First, you need to join a mining pool. You’ve got over ten to choose from with pool.gold as one of the most popular options. Next, download the mining software from the pool that you joined. Pool.gold has mining software available for NVIDIA and Radeon.
If you don’t have a BTG wallet, set one up. Your options include BTGWallet.online, the Bitcoin Gold Core Wallet, or any exchange that supports BTG.
Continuing with pool.gold as the example, you have separate instructions based on your GPU:
NVIDIA: Edit the start.bat file to include your Bitcoin Gold wallet address followed by the worker name.
Radeon: Edit the config.txt file to include your Bitcoin Gold wallet address followed by the worker name.
Finally, double-click “start.bat” and begin mining.
When Did It Go Live?
The Bitcoin Gold hard fork occurred on October 24, 2017, with block 491,407 on the Bitcoin blockchain. When that happened, Bitcoin Gold took a snapshot of all the balances and transactions on Bitcoin up to that point. The new blockchain began from there.
Is Bitcoin Gold a Competitor to Bitcoin?
Although Bitcoin Gold is a hard fork of the original Bitcoin blockchain, it’s not really a competitor to Bitcoin. While other hard forks, like Bitcoin Cash, cannibalized some miners from the Bitcoin network to work on the new blockchain, Bitcoin Gold’s anti-ASIC algorithm means virtually none of Bitcoin’s current miners will want to switch to mining BTG.
Instead, Bitcoin Gold competes with other anti-ASIC cryptocurrencies like Ethereum for mining power. Mining on such networks comes in the form of smaller-scale GPU mining. The problem for Bitcoin Gold is those other anti-ASIC cryptocurrencies have a longer history and are more predictable for miners. It’s not clear why a miner would want to switch to BTG, unless the price per BTG surges.
The one advantage that Bitcoin Gold has is wide dispersal. Everyone on the Bitcoin network received will receive BTG, so there’s potential for widespread adoption.
Bitcoin Gold vs Bitcoin, Bitcoin Cash, & SegWit2x
With so many forks on the Bitcoin blockchain in such quick succession, it can be confusing to keep track of the differences. Here’s a table to help you out:
Bitcoin Bitcoin Gold Bitcoin Cash SegWit2x (cancelled)
PoW Type ASIC ASIC-resistant (GPU) ASIC ASIC
Block Time ~10 mins ~10 mins ~10 mins ~10 mins
Difficulty adjustment ~2 weeks Each block ~2 weeks ~2 weeks
SegWit Yes Yes No Yes
Replay Protection – Yes Yes No
Total Coin Supply 21 million 21 million 21 million 21 million
Bitcoin Gold is the only Bitcoin fork to date to implement a new ASIC-resistant proof of work algorithm. Along with that new hashing algorithm, Bitcoin Gold implements a new difficulty adjustment with every block, gradually increasing the difficulty based on past block times. Finally, Bitcoin Gold is one of the only Bitcoin forks to support both Segregated Witness (SegWit) technology and replay protection. SegWit increases the number of transactions possible per block and replay protection prevents fraudulent parallel transactions on two forks.
Replay Protection After a Fork
A hard fork.
Replay protection is critical when implementing a fork of an existing blockchain. The shared code and wallet addresses between BTC and BTG make it possible to implement a replay attack. Basically, if you want to conduct a transaction on both BTC and BTG at the same time, you’re fine. However, if you want to pay someone in BTC and keep your BTG, you’re open to an attack. An attacker could send a false signal between the forks that causes you to lose both currencies when you only meant to send one.
Bitcoin Gold offers full replay protection on BTG to prevent such attacks. The solution involves a SIGHASH_FORK_ID mechanism that rehashes transactions, meaning they can’t be transferred across from BTC to BTG.
What People are Saying About Bitcoin Gold
Most new cryptocurrencies involve ASIC-resistant hashing algorithms, and it’s becoming something of an industry standard to promote decentralization. In that respect, Bitcoin Gold holds a lot to be excited about. At its core, it’s about transitioning the Bitcoin network to more decentralized mining.
However, as we saw above, there’s not much evidence that the current Bitcoin mining system is broken. There have been some small complaints, and it’s not ideal that the network is so centralized. Nevertheless, miners on Bitcoin have a lot to lose if they wield their power too aggressively. There are also new entrants to the Bitcoin mining community that are decentralizing control from a few key ASIC farms.
The general consensus from Bitcoin experts is there’s not enough new in Bitcoin Gold to warrant an independent investment. While it certainly doesn’t hurt to hold onto your free BTG that you receive as a result of the fork (if you owned Bitcoin before Oct 24), wait until the dust settles before deciding whether to buy more.
250
Dogecoin Forum / Beginner’s Guide to Dogecoin?
« on: July 27, 2018, 01:05:10 PM »
What would you think if someone today created a new cryptocurrency, and it was very obvious from the start that it was intended to be satirical? A lot of people probably wouldn’t even give it a second thought. That was certainly the case when Bitcoin Clashic hit the scene last year. But when it comes to Dogecoin, the Internet embraced it.
Even today it’s still a widely used, traded, and community supported cryptocurrency. It’s available on almost every exchange, and is supported by a number of popular multi-asset wallets like Jaxx. So read on as we go over more about the history, present, and future of this silly yet highly effective cryptocurrency.
Even today it’s still a widely used, traded, and community supported cryptocurrency. It’s available on almost every exchange, and is supported by a number of popular multi-asset wallets like Jaxx. So read on as we go over more about the history, present, and future of this silly yet highly effective cryptocurrency.
251
General Discussion / Good Things Take Time
« on: July 27, 2018, 12:58:18 PM »
Good things take time. Stay patient and stay positive. Everything is going to come together; maybe not today, but eventually.
252
Zcash Forum / Best Masternodes To Hold In 2018?
« on: July 27, 2018, 12:50:08 PM »
Hey!
So guys which masternodes are you running right now or planning to?
I'm thinking of buying enough zencash for a masternode, do you think it is worth it?
So guys which masternodes are you running right now or planning to?
I'm thinking of buying enough zencash for a masternode, do you think it is worth it?
253
বাংলা (Bengali) / Re: নিয়ে নিন ২৫$+ প্রতিদিন কোনো রেফার ছাড়াই - IOST এয়ারড্রপ বিস্তারিত
« on: July 27, 2018, 12:41:55 PM »
ধন্যবাদ আপনাকে ভালো একটি এয়ারড্রপ দেওয়ার জন্য
254
Bounties & Rewards [BOUNTY] / Re: THE LIST OF ACTIVE SPEEDCASH BOUNTY CAMPAIGNS
« on: July 27, 2018, 12:35:42 PM »
Good Project SPEEDCASH
255
Blockchain Technology / What Is A Blockchain
« on: May 08, 2018, 06:11:23 AM »
Hey guyz
I am complete noob in crypto. I need to know what is a blockchain? How to use it and what if it goes offline? What affects it will occur on bitcoin.
I have tried understanding it but it looks very complex There may be a simpler way to understand it guys
Thanks for the help
I am complete noob in crypto. I need to know what is a blockchain? How to use it and what if it goes offline? What affects it will occur on bitcoin.
I have tried understanding it but it looks very complex There may be a simpler way to understand it guys
Thanks for the help
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG